Chavez Loses Constitutional Vote tells us that Hugo chavez lost his president-for-life bid with his proposed constitutional changes going down by a 51-49 per cent tally. The changes would have scrapped Venezuela's term limits and allowed Chavez to run for president indefinately. Among other things.
He would be able to hand pick previously elected officials and redraw the political maps on a whim. Givne his track record the last couple of years, he needs to be watched.