MercoPress. South Atlantic News Agency
World’s largest beef producer cuts losses in Argentina and prepares to leave
Brazil’s JBS, the world's biggest beef producer is on the verge of exiting Argentina due to a difficult business environment and because it is not prepared to tolerate further losses in the country. Read full article
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Disclaimer & comment rulesthere may be trouble ahead :-)))))
Mar 23rd, 2012 - 06:12 am - Link - Report abuse 0http://www.youtube.com/watch?v=TjJHnKw7YNA
Wise Wesley Batista is wise.
Mar 23rd, 2012 - 06:28 am - Link - Report abuse 0“It's not easy to close plants in Argentina but we've gone from six to one there,” Batista said. “If anyone in Argentina wants to help the system become easier to operate in, that would be very welcome.”
Mar 23rd, 2012 - 08:07 am - Link - Report abuse 0This polite justificatory statement says it all.
But will the government hear what is being said?
Will it even listen?
Trade? We don't need no stinking trade!
Mar 23rd, 2012 - 08:18 am - Link - Report abuse 0KFC and her government are a self destructive 'all or nothing' bunch of fruit loops. If you really do get the government that you deserve what the hell did poor ordinary Argentinians do to get landed with this shower of shite?
the first of many companies to leave I would suspect - and this is a bloody Brazilian company ie one of their so called friends!
Mar 23rd, 2012 - 08:24 am - Link - Report abuse 0Airlines too... Malaysian last month, Qantas tomorrow... Moving its base to Chile tomorrow.
Mar 23rd, 2012 - 09:02 am - Link - Report abuse 0So the mass exodus begins....
Mar 23rd, 2012 - 09:07 am - Link - Report abuse 0Considering Iberia is now a part of BA I'd be expecting them to be throttling back on the flights out of Argentina unless the people are paying in Soy oil.
Apparently they want to supply beef to the Falkland Islands when the oil bonanza starts.
Mar 23rd, 2012 - 10:25 am - Link - Report abuse 0Golly, looks like JBS has spooked the herd, now comes the stampede....
Mar 23rd, 2012 - 10:41 am - Link - Report abuse 0Lol, i had been saying for months, that companies will soon leave argentina as a result of economic issues, like inflation and depreciation of currency and government restrictions of imports and exports. Did the argentinians here listen? Nope they disagreed and i bet despite this, they will still disagree and pass it off as irrelevant.
Mar 23rd, 2012 - 10:53 am - Link - Report abuse 0Get out before the Peronists steal all of your money. Very smart.
Mar 23rd, 2012 - 11:04 am - Link - Report abuse 0And just what did you all expect from Argentina, a repeat performance of course.......for your viewing pleasure:
Mar 23rd, 2012 - 12:05 pm - Link - Report abuse 0www.youtube.com/watch?v=UyPC0SD0PGw
www.youtube.com/watch?v=zTBAjfgHLyk&feature=relmfu
www.youtube.com/watch?v=azwWSN2pukk
www.youtube.com/watch?v=iSvQw00SV-c
www.ripoffreport.com/government-worker/argentina-tourists-m/argentina-tourists-murdered-l-33f51.htm
www.ripoffreport.com/federal-government/cristina-kirchner/cristina-kirchner-cristina-kir-dc9b0.htm
Gracias Cristina y Nestor!!
You should see the headlines in the economic sections of Clarin and Lanacion today!
Mar 23rd, 2012 - 12:37 pm - Link - Report abuse 0Construction in BA down almost 70% yoy!
Parallel U$ 4.90!
Huge restrictions on imported books, you have to use a customs broker and pick it up in EZE! a U$ 10 becomes U$ 50 with all the problems!
USA cutting trade benefits
Gas stations getting 80% less diesel than then did last year
The only solution I see is a huge devaluation, it may keep things going for another year if they increase the peso to 10/1 but I bet if they do that it will go to 15/1 because they don't have any means to control it. Yikes can you image what that would do to inflation!
Ahh the Bolivarian revolution, which mean people get poorer, start starving and murder goes through the roof. RGs look at Caracas and know your future. You are using Chavez's playbook.
Replay...Chile 1969
Mar 23rd, 2012 - 12:49 pm - Link - Report abuse 0When will they ever learn?
One of these days that feckin’ bunny boiler is going to get on a plane to make an official 'state visit' somewhere and she won’t be coming back.
Mar 23rd, 2012 - 12:52 pm - Link - Report abuse 0...yes Argentina , reaping the bitter fruits of your government. More bitter fruit to come....
Mar 23rd, 2012 - 01:51 pm - Link - Report abuse 0I'm surprised they're not burning foreign books, rather than just restricting their import.
Mar 23rd, 2012 - 01:54 pm - Link - Report abuse 0@17
Mar 23rd, 2012 - 01:59 pm - Link - Report abuse 0..no foreign printed matter all.
http://www.lanacion.com.ar/1458927-restringen-el-ingreso-de-libros-y-revistas
“Every burned book enlightens the world”, Ralphy W. Emerson
Mar 23rd, 2012 - 02:35 pm - Link - Report abuse 0I wonder where they're going to have to have to go to for their government issue books? (Answer: Le Camping)
Argentina, one fucked up country run by a fucked up Turkey Necked Bunny Boiler from a dubious background supported by a bunch of Argy bloggers on this site without the brains to see what is happening right under their noses. Hears a thought why don't the Government of the Falkland's go over and show them how to run a profitable economical viable country. They could have Argentina back on its feet in just a few months. But there again miracles can be instant, the impossible could take a little bit longer.
Mar 23rd, 2012 - 02:55 pm - Link - Report abuse 0Well, some of us who predicted this were shot down by the Argies as Pirats and all the other nonsense. I notice Ogaga et al are missing, even 'I don't Think' himself is licking his wounds.
Mar 23rd, 2012 - 03:08 pm - Link - Report abuse 0Now it starts!
And, it's going to get even worse before very long. We can however look forward to Timmidman having his day in court!!
Great, what a shower of shite is coming onto this bunch.
Think loves to assume there is a direct correlation between The Falkland O/G stock prices and the insane whinings of a psychopathic Argentinian. Of course he doesn't post anything the next day or week when they are up again because...wait for it...the correlation is really from the price of o/g! Gasp what a surprise!
Mar 23rd, 2012 - 03:22 pm - Link - Report abuse 0I sometimes wonder if Think knows how stupid he has sounded over time as all of the fallacies he believed to be truths are now being shown . It must be sad for Think, OGara, Axel etc etc to KNOW they've been duped for the last 8 years. We should pity not mock them.
“JBS is therefore sitting tight with one slaughterhouse in hopes that it can still break even in Argentina and eventually become profitable again in “a year or two or three,”
Mar 23rd, 2012 - 05:28 pm - Link - Report abuse 0So how does this statement satisfy the article title ”JBS prepares to leave”
Or is it Mercopress again embellishing through unnecessary confabulation? Been happening oftener and oftener...
Tobias, you're a cunning one because I know you realise JBS is shutting down operations in Argentina.
Mar 23rd, 2012 - 06:08 pm - Link - Report abuse 0They have gone from 6 to 1 and if that isn't an indication of where they are heading I don't know what is....
Tobias, they have packed their camels and gone home.... they have left one plant open in the hope that things will improve.... they aren't preparing to leave...effectively they have left.... if nothing improves in the next three years ( pigs may fly) the rearguard will pack up and go as well.....
Mar 23rd, 2012 - 06:20 pm - Link - Report abuse 0Nice try though to bias. Nice bit of spin.
Mar 23rd, 2012 - 06:39 pm - Link - Report abuse 0With one plant left and still hoping to “break even” and eventually become profitable again in “a year or two or three”, they clearly haven’t left yet.
Mar 23rd, 2012 - 07:59 pm - Link - Report abuse 0However the warning is in the statement “We're not going to let ourselves lose money there any longer”.
Seems Brazil now thinks Argentina is in a lot of financial trouble as well.
Mar 23rd, 2012 - 09:33 pm - Link - Report abuse 0http://translate.googleusercontent.com/translate_c?hl=en&ie=UTF8&prev=_t&rurl=translate.google.com&sl=auto&tl=en&twu=1&u=http://www.ieco.clarin.com/economia/Brasil-Argentina-trabas-importaciones-problemas_0_668933323.html&usg=ALkJrhjPhr_E2ejmPy82PWWyJsq1vNQKiA
It was only a matter of time before the corporations decide to leave Argentina. Quite rightly so too. Plenty of opportunity in other countries!!
Mar 23rd, 2012 - 09:42 pm - Link - Report abuse 0@6 Qantas pulled the pin cos no RGs could afford to fly with them ( prefering to risk all with Aerolineas Belgranosinko) and the planes were running half empty.
Mar 23rd, 2012 - 09:50 pm - Link - Report abuse 0Meanwhile the LAN/QF codeshares into Santiago are absolutely chocka even with extra flights ...
Santiago...gateway to the southern cone...
Telecom Argentina will bend to government pressure to withhold 2011 dividend payments, Argentine newspaper Pagina 12 reported. The company had originally intended to distribute as dividends 70 percent of last year's net profits, which totaled 2.42 billion pesos (about $563 million). The proposal to halt the payment, which would have to be ratified by shareholders at an April 27 meeting, would affect Telecom Italia, which holds a 22.7 percent indirect stake in Telecom Argentina. Argentina's center-left government is urging companies to reinvest dividends to boost investment and stem capital flight.
Mar 23rd, 2012 - 09:54 pm - Link - Report abuse 0http://uk.reuters.com/article/2012/03/23/snippet-idUKL1E8EN2HM20120323
BUENOS AIRES, March 23 (Reuters) - Argentina's February industrial production fell short of market expectations, rising 2.7 percent year-on-year and declining 1.4 percent from January, underlining an economic slowdown, official data showed on Friday.
http://uk.reuters.com/article/2012/03/23/snippet-idUKL1E8EN2HM20120323
So first you annoy the americans, then you annoy the spanish, then you annoy the italians... who is next?
Mar 23rd, 2012 - 10:59 pm - Link - Report abuse 0@30 I think also that one of the factors was the connections to the real market in SA, Brazil. The protectionist locals could not handle that Qantas “stole” passengers off the Aerolineas services and then favoured the Brazilian carriers for flights up to Brazil. While it is sad that there will be no non-stop to Buenos Aires now, Santiago and Chile are much more open to foreigners and have a great airline for connections. In Australia right now, there are lots of promotions for the new service, the skiing close to the city, the wines, food etc.
Mar 23rd, 2012 - 11:26 pm - Link - Report abuse 0If you don't play on a level playing field and respect the rules, in the end you will come a cropper.
High quality global journalism requires investment. Please share this article with others using the link below, do not cut & paste the article. See our Ts&Cs and Copyright Policy for more detail. Email ftsales.support@ft.com to buy additional rights. http://blogs.ft.com/beyond-brics/2012/03/23/brazils-jbs-not-beefing-up-in-argentina/#ixzz1pzMNjc4l
Mar 24th, 2012 - 12:16 am - Link - Report abuse 0Even though Swift, the JBS brand, has been running adverts on television in ”Argentina lately, the company sees a bleak outlook: government policy would have to change significantly to get the company to reinvest.
Exiting Argentina would cost money too – rigid labour laws make severance expensive – so JBS is banking on being able to break even in two to three years. But, as Batista laments, “it’s not easy to work in Argentina”.
http://blogs.ft.com/beyond-brics/2012/03/23/brazils-jbs-not-beefing-up-in-argentina/#ixzz1pzMNjc4l
Argentina now closed for business in other words as the message is relayed around the world - RG Land is once more bankrupt.
This is another sign of an economy going down (fleeing investors, foreign currency black market) as in other areas like ailines where Qantas made a good move switching its operation to Santiago since next monday 26 ( with John Travolta in the maiden flight). And shows clearly that Mercosur protectionism doesn´t work since the APEC already is accounting 54% of GDP in the world and 44% of the world trade, numbers that Mercosur NEVER will even draw close.
Mar 24th, 2012 - 02:14 am - Link - Report abuse 0@35
Mar 24th, 2012 - 02:40 am - Link - Report abuse 0APEC also accounts for half of the world's population, so having 50% of GDP isn't exactly outperformance.
just let the Argentines be... if they think, this is the way o go and it will work out for them, that's their f*ck*ng business. Why do you all care so much about it?
Mar 24th, 2012 - 01:42 pm - Link - Report abuse 0Meanwhile I am lmao when they start crying about the consequences and the “world conspiracy” against them...
Just goes to say that Argentina is not a good place to do business. There are too many restrictive practices. It sounds as if it's a bit like the UK in the 70s.
Mar 24th, 2012 - 02:43 pm - Link - Report abuse 0Argentina is still a great country regardless of the complains outsiders make, lets never forget that the only people who aren't happy are those who benefited so much and will get less and less from now on. They can all go to hell if you ask an Argentine, the only trolls who make a big fuss about this are from Europe and USA. They can all kiss out Argentine arsess.
Mar 24th, 2012 - 08:50 pm - Link - Report abuse 0Oh Argentina, that you should come to this.
Mar 24th, 2012 - 10:01 pm - Link - Report abuse 0Remember the glory days of 1900.
Get rid of your crooks in government, out out out.
The people deserve better than this.
@39 kiss Rg asses??????????????
Mar 26th, 2012 - 06:22 am - Link - Report abuse 0you are sick.....no one in their right mind would go anywhere near an RG ass! Its all spotty and hairy, whether you be male or female, and i hear it smells so bad that flies vomit when they get close!
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