Replies to post #12006 on The Rising Influence of Rising Affluence

[jbog]

I didn't mean to say that FX in Venezuela was the problem. FX is a worldwide problem for American Companies right now either in the rate conversions or being priced out of the market.

[DewDiligence]

MDLZ takes big writeoff on Venezuela:

http://www.wsj.com/articles/mondelez-posts-loss-on-venezuela-related-charge-1454506287

[Mondelez] said it posted a one-time accounting charge of $778 million, or 48 cents a share, to remove all assets and liabilities of its Venezuelan operations from its balance sheet and reclassify the business as an investment rather than an operating unit. The move is an attempt to shore up the drag on earnings as Venezuela continues to struggle.