(BloodyRubbish) Carlos Slim is a shady figure that has made his fortune by monopolizing the Telecom industry in Mexico. He hates the Mexican people, charging many a quarter of their total income just to have access to the internet.
The corrupt businessman has overcharged Mexicans by billions in the past, and has cost the Mexican economy billions as well. He doesn’t care about the Mexican people, just their money.
As reported by CNET,
“..Telephone service in Mexico is run by a monopoly that is overcharging customers billions of dollars, according to a new report by the Organization for Co-operation and Development(OECD).
“The lack of telecommunication competition in Mexico has led to inefficient telecommunications markets that impose significant costs on the Mexican economy and burden the welfare of its population,” say the report’s authors.”
Sources south of the border: Mexicans hate Carlos Slim
It is ironic that Carlos Slim has come out in support of unifying the Mexican people together — he has for years made the Mexican people nothing but victims of his disgusting corporate greed. In fact, when the Mexican government started to crack down on his company America Movil’s monopoly, investors were excited because it was a good excuse to sell of assets to reinvest outside of Mexico.
He ripped off Mexicans, Mexico, and then his company was excited to take that money and run. Mexican’s hate the guy, and rightfully so.
As reported by Forbes,
“Instead, Slim is making money off the news. His net worth is up nearly $3 billion as America Movil’s stock soared 7.5% on Wednesday. Why? Mexico’s attempt to increase competition in the telecom space gives the company an excuse to sell off lucrative assets.
Investors are applauding the decision because even if Slim gives up the 70-80% domination of the market he has held for decades, the outcome may actually be better for the company. America Movil can use the profits from the divestiture to reinvest in other markets, such as Europe.”
Carlos Slim is trying to insert himself into negotiations because a poor Mexico would cost him money. If NAFTA is thrown out, money won’t be following to Mr. Slim’s companies from the Mexican worker. through his conglomerate, Grupo Carso he owns countless businesses in Mexico. His accounts are said to make up 40% of the listings on the Mexican stock exchange. It makes sense why he is scared.
As reported by CNBC,
“Slim called Trump’s decision to move manufacturing irrational and costly, joking that the U.S. needs Mexicans to build the wall. The billionaire said Mexico’s workforce works harder and learns faster than the American workforce. Slim said he hopes Mexico can show the U.S. that they should produce more in his country.”
Mr. Slim is saying that Mexico has to come together to negotiate with strength, but it’s just a continuation of the bluff that the U.S. needs Mexico. He is worried about his own wallet.
Trump is too smart to buy into Carlos Slim’s ridiculous words. I’m sure Trump also isn’t happy with Slim’s jab at the American workforce.