President Hugo Chávez warned the Venezuelan Confederation of Trade and Industry Chambers (Fedecámaras) that if they continued to challenge his government, he would confiscate their companies.

Chávez was replying to Fedecámaras' chair José Manuel González's recent remarks that the organization would do every possible effort to avoid Chávez's proposed constitutional reform. The Venezuelan ruler said that if the business sector intended to fight his reform, he would seize their companies.