Two items from South America

First -- some good news from Chile. From the Financial Times:

Pi�era wins presidency as Chile returns to the right
Sebasti�n Pi�era, a billionaire businessman, has defeated Chile�s ruling leftist coalition to return the right to power for the first time since the return of democracy after General Augusto Pinochet�s dictatorship in 1990.

The silver-haired airline magnate, who has pledged to implement a change of style but is not expected to make big policy shifts, scored a clear victory over Eduardo Frei, a former president who had been seeking a fifth consecutive term for the ruling Concertaci�n coalition but failed to overcome the left�s image as stagnant and riven by infighting.

Time for a little housecleaning... Second, from the Wall Street Journal -- Chavez doing what Chavez does best:

UPDATE: Venezuela Nationalizes French-Colombian Retailer Exito
President Hugo Chavez ordered Sunday the seizure of a French-owned retail chain on accusations that it raised prices after Venezuela devalued the currency by half.

"Until when are we going to allow this to happen?" Chavez asked during his Sunday television program in reference to the alleged price hike by Almacenes Exito SA (EXITO.BO), headquartered in Colombia and controlled by French retailer Casino.

Generally, when you find yourself in a hole, the idea is to stop digging...