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Brazil’s Chaos Shouldn’t Scare Investors Off, Says Peugeot Citroen

The attacks by a drug Mafia in São Paulo, Brazil, which have caused 91 deaths and the torching of dozens of buses and of 10 banks, led the Bovespa, the São Paulo stock market, to end earlier their activities, this Monday, May 15.

Bovespa usually has what it calls the after-market session, starting at 5:30 pm and going to 7 pm. That session, however, was cancelled. The whole downtown area where the stock market is located ended its activities earlier due to fear of new attacks by the PCC, the First Command of the Capital. 

Commenting on the state of chaos prevailing in São Paulo, Pierre Michel Fauconnier, the general director of the French group PSA Peugeot Citroen said that he does not believe that the wave of violence that’s shaking São Paulo and other Brazilian states should damage Brazil’s image overseas.

According to Fauconnier, investors wouldn’t be deterred by the crisis of authority: "This is a conjunctural episode," he said reminding that France recently experienced violent street protests which have not translated into less investment in that country. "We believe Brazil is able to control the current situation."

An anonymous phone call to the Congonhas airport, close to downtown São Paulo, led the police to close that airport for two hours while their Anti Bomb Squad swept the area. According to Infraero, the Brazilian airport authority, some flights were delayed, but no flight was canceled. The searches didn’t find any bomb, however.

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  • Show Comments (4)

  • Guest

    no shit!!!

    They’re ALL corrupt!!! Brazilians make such a miserable wage that it is NOT livable!!!

    So any and all do whatever they can, illegal, immoral, or otherwise, to make a couple extra bucks, it doesnt matter that it puts their own people, country, security, in jeapordy!!!

    THIS IS BRAZIL!

  • Guest

    it was all coming
    I was watching a newscast on UOL.com and the reporters were saying how the prison guards sell cell phones to the prisoners for about R$200-300 each and proceeded to show various prisoners talking on cell phones. That is the only way they could have coordinated such attacks all across the state. There is NO WAY Brazil is gonna go anywhere when the government officials and employees are the bad guys as well.

  • Guest

    this is hilarious, and a tribute and testimony to the corruption that exists in brazil!!!

    Any human, brazilian or otherwise, that attempts and equate brazil with the United States should be ashamed of themselves!!!

    This shit COULD NOT HAPPEN in the U.S. It would be met with swift and brute force!!! It would be crushed immediately!! And especially when the heads of this “terrorist group” are in custody!!!

    QUE VERGHONA!!!

  • Guest

    Great Fauconnier !
    Investors should not worry, but S.P. citizens should !
    Petrobras cancelled their investors meeting due tomorrow.
    Why dont you call Agnelli ?
    Why dont you call the buses companies ?
    Why dont you call the schools that closed early ?

    And in France, the streets protests where NOT done by KNOWN CRIMINALS, with guns who shot and killed so many policemen plus some innocents !

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