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Venezuelans Reject Constitutional Change, Chavez Accepts CARACAS - Venezuelan President Hugo Chavez acknowledged Monday his first-ever election defeat after voters rejected reforms in a weekend referendum that would have strengthened his grip on power and turned his oil-rich country into a socialist state. "Don't feel sad," a chastened-looking Chavez told his supporters via a media conference. He stressed that he had lost by only a "minimal" margin and was encouraged by the support he did get. The National Electoral Council said "no" votes against the reforms had outweighed "yes" votes by a very narrow 51 to 49 percent.

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Venezuelans Reject Constitutional Change, Chavez Accepts

CARACAS - Venezuelan President Hugo Chavez acknowledged Monday his first-ever election defeat after voters rejected reforms in a weekend referendum that would have strengthened his grip on power and turned his oil-rich country into a socialist state.

"Don't feel sad," a chastened-looking Chavez told his supporters via a media conference. He stressed that he had lost by only a "minimal" margin and was encouraged by the support he did get.

The National Electoral Council said "no" votes against the reforms had outweighed "yes" votes by a very narrow 51 to 49 percent.