Imagine for a second, going about your day with your colleagues and suddenly getting a call from the president and, surprise! You’re on national TV. It’s not just that the president calling, but he is doing do so to threaten you with expropriating your company. Sounds like the twilight zone right? Well, this is exactly what happened to Pedro Rodriguez, Banco Provincial’s CEO in Venezuela.

Yesterday, President Hugo Chavez abruptly called Mr. Rodriguez during one of his legendary, marathonic live television “rallies.”  Mr. Chavez’ justification for such a call was to complain about the bank’s supposed involvement in a housing development project that some resident’s claim has gone awry.   Rather than presenting the problem and seeking a solution, the President played the bully card, threatening a forceful takeover of yet another Spanish company. As the conversation escalated, Pedro Rodriguéz informed President Chávez that the company was “not for sale.” Inflamed by his perceived arrogance, President Chavez reaffirmed his threat to expropriate the bank.

Banco Provincial is largely owned by Spanish bank, Bilbao Vizcaya. This is but the latest Spanish company to be a target of expropriation in Venezuela. Other Spanish companies such as Banco Santander and Agroisleña have all fallen under the expropriating hands of the Venezuelan government.

Also this week, in his most recent use of executive powers, President Hugo Chavez signed into law, The Law for Dignified Refuge which allows the government to take anybody’s home, business or property for temporary use as a refuge.

Ironically, the more Presdient Chavez attaks private property, the less the Venezuelan people seem to support it.  Public opinion is increasingly antagonistic to the President’s scorn for private property. Just today, another poll shows that 80 percent of Venezuelans disagree with the takeovers of private property, and reject the ongoing expropriations binge conducted by the Chávez administration.

But if yesterday was any indication, it is likely a matter of time before another company president or property owner gets a call from “El Comandante.”