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Brazil's golden boy files for bankruptcy; an example of overblown expectations?

Sunday, November 3rd 2013 - 00:03 UTC
Full article 9 comments

Just a few year ago, flashy Brazilian billionaire Eike Batista was bragging that he would soon overpass Carlos Slim as the world's richest man. He even liked to show visitors his Mercedes-Benz McLaren parked right in the living room of his mansion. But his fall has been deep and fast. Read full article

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  • CabezaDura

    And how come Vaca Muerta where the real reserves are can’t get any investment... ?? I know The Devil is in the detail...
    If some Argentine golden boy friends of the government would have done this and bankrupted, the government would have nationalized the company covered its debt and overpaid his junk.

    Nov 03rd, 2013 - 01:30 am - Link - Report abuse 0
  • ChrisR

    This guy must be a relative of Mantega, The Liar in Chief for Dilma.

    Typical egotistical numbnut: very personable by the look of it and can talk-the-talk. Pity he is a cripple when it comes to walking-the-walk.

    Brazil, the future is behind it.

    1 CabezaDura

    Until Argentina has a new, honest, government that can be trusted NOT to thieve investor's money then why SHOULD investors put their money into the place?

    Can you EVER see that scenario coming about?

    Nov 03rd, 2013 - 12:30 pm - Link - Report abuse 0
  • yankeeboy

    Methinks this guy is indicative of the country as a whole.

    Nov 03rd, 2013 - 01:17 pm - Link - Report abuse 0
  • CabezaDura

    Well there are already indications and sings that investors are just waiting to see CFK gone, since the primaries in late August (PASO) the MERVAL had risen 40%, I think whoever comes to power will have to create conditions for people bringing money and investing in Argentina not because any ideological reason but simply because of practical necessity.
    There will be a massive adjustment and crisis somewhere in the near future, but I think a very rapid growth will be followed in and an influx of capital from abroad will get the country on track in no time after a year or two.
    What has to be worked a lot is on the local administrations that take bribes for small scale investments and the juditial systems horrendous times.
    What has to be worked a lot is on the local administrations that take bribes from small scale investments and business and the judicial system that is takes too much time in having anything done

    Nov 03rd, 2013 - 02:04 pm - Link - Report abuse 0
  • ChrisR

    @ 4 CabezaDura

    Excellent logic but not an answer to my question.

    Can you see anyone who is likely to be elected president who is honest it the true meaning of the word?

    This is not a trick question, I personally do not know the candidates at all and I am genuinely interested in your opinion, founded on fact and experience.

    Nov 03rd, 2013 - 04:11 pm - Link - Report abuse 0
  • CabezaDura

    I would say Macri and Julio Cobos but I would prefer much more the latter. He was an excellent governor of Mendoza, which is not a rich agricultural Province like Santa Fe or Cordoba, it’s a far more arid region, he was around at the time of the re emergence of Argentine and premium wineries (that lately have taken a hit) he didn’t touch any foreign investment of that kind, instead he championed the industry. As vice-president he was very brave in his negative vote that settled the 125 decree dispute in 2008 that would cost him his isolation solitude and hostility from the government for the next 4 years in government. Another plus is that he is not a lawyer like all the other politicians are; he is a civil engineer, so that makes him a far more pragmatically minded than his counterparts.

    I can quite forgive him for being Cristina’s vice for I can understand that the UCR didn’t have much to offer him in 2007. The problem is that the Radicals did not forgive him in 2011 and selected Ricardo Alfonsin as the official runner in that year only on the basis of his surname; he had no real merit and got the third place after Binner... I think that next time they will not make the same foolish error.

    Nov 03rd, 2013 - 05:44 pm - Link - Report abuse 0
  • ChrisR

    6 CabezaDura

    Thank you very much for that lucid review.

    Nov 03rd, 2013 - 06:14 pm - Link - Report abuse 0
  • CabezaDura

    To be honest nobody can be worst than these ones now in charge, not even Scioli or Massa...

    Nov 03rd, 2013 - 06:49 pm - Link - Report abuse 0
  • macsilvinho

    Brazil's most corrupt government this contry ever had made Brazilians and the world believe we were the Giant that was awakening: the biggest lie I ever heard in my life. Eike was also a lie created by the Corrpts using BNDES (government bank for national development) money. My mother always told that there is nothing stronger than the truth and I always remember a military president's words when he saw the “democrats” taking power in Brazil: “You will miss the days you were governed by the military.” I do. What can Brazilians and the world expect from an ex-communist terrorist like Dilma?

    Nov 04th, 2013 - 10:48 am - Link - Report abuse 0

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