Showing posts with label Michel Temer. Show all posts
Showing posts with label Michel Temer. Show all posts

Thursday, June 30, 2016

Foreign Ownership of Air Companies on Hold

Interim president, Michel Temer, has decided to hold off on deciding whether or not foreigners can own 100% of air companies in the country.


Currently, foreign companies can only own up to 20% of air companies in Brazil. Examples of foreign companies with ownership of Brazilian air companies include Delta and Air France owning shares of Gol and HNA of China and United Airlines possessing shares of Azul.


China has already invested in a highway linking Guyana and Brazil. See our piece on that Chinese to Invest in Brazilian Roadways

Read more from Folha de Sao Paulo Interim President Temer Reconsiders Decision Regarding Air Companies and Foreign Ownership

Tuesday, June 28, 2016

Food and Housing Legal Ways for Politicians to Steal from Populace in Brazil

Can one really call themselves one of the people when they spend nearly US$18 thousand a month on food?

Well, that's exactly how much suspended president, Dilma Rousseff, spent from January to May 2016. Of course, Rousseff's use of populism should have been put into question earlier as her popularity hovered around 10% before her ouster.



It's bad enough that the president and her Worker's Party (PT) claim to fight for the downtrodden and weak, but to spend the equivalent of 77 minimum salaries on her own food budget is just ridiculous.

Ms. Rousseff's food budget was recently suspended by intern president, Michael Temer. 

Not surprisingly, Ms. Rousseff is not alone. Nor is this something new in Brazil, though, these are far from justifications for Ms. Rousseff's abuse of the taxpayer money. Judges, magistrates and politicians regularly receive thousands of reais per month for food and housing, even though, they are the members of society least in need of the money.

The issue of using taxpayer money when it is not needed is more than a moral issue. These "perks" cost taxpayers billions of reais per year meaning less and less money is spent on needed social services, such as health care and security. Moreover, the diversion of government monies for those least in the need of them means less money for investments in research and development and entreprenauership.

Read more about Dilma Rousseff's abuse of public money at InfoMoney (in Portuguese) Suspended President Has Big Appetite