IS Chavez bad for business?

Hardly.

Articles abound with stories of ridiculous wealth in Venezuela. I can attest personally to excessive spending on flashy cell phones, cars, and whiskey in the East of Caracas. Plus, Caraquenos have a high cost of real estate to keep in mind - some families own homes in Florida, but can't afford apartments in Caracas.

So - Chavez is good for business, but what about the middle class? Chavez isn't good for the middle class, but instead of good - he's different. Under Chavez, the upper class has expanded, and the lower class has received vastly improved services. The middle class has largely disappeared, but that may relate more closely to the oil boom than the ascendant Chavez presidency.

The middle class that does exist are hustlers - successful buhoneros (street vendors), car salesmen,  teachers,  and shopkeepers, among others. Lots of these folks live in the informal economy, without taxes, reporting, etc. Is that a good thing? Depends on who you ask.