$1.3 Trillion of American Companies Sold to Foreign Corps

[katty]

cont'd at:

http://www.economyincrisis.org/article_15.html

Selling Out - $1.3 Trillion of American Companies Sold to Foreign Corps


The following staggering amount of our wealth producing companies has been sold to foreign owners in the 10 years from 1995 through 2005. Below is a partial list of the 8,600 U.S. companies sold.

It is critical to understand that even if these are not all familiar corporate names, they are all very valuable strategic companies with vast amounts of technology, assets, production facilities, tax base, and employment attached to each one. In fact, many of the smallest, most unfamiliar acquisitions represent some of the most significant strategic and proprietary technology losses to this country. Many of these companies took decades, and in some cases generations, to build to their size and scope prior to acquisition. Not only does the US lose control of the assets and technologies of these companies as of the date they were acquired, the US also loses all future profit and title to all future advancements of these companies.

These companies were the means through which America created much of its present wealth. With the loss of these companies and having no comparable replacement, it's easy to see that our future will not be as good as our past, especially since the countries that acquired these companies are now able to compete with us in almost all industries. Why are we doing this? Don't we have alternatives? Who is responsible, demand answers from your congressperson.

The following table lists only a few of the 8,600 foreign acquisitions during this period. The $1.3 Trillion figure and complete list can be verified at the US Bureau of Economic Analysis.

Oil and Gas; Petroleum Refining
Amoco Corp British Petroleum Co PLC United Kingdom $48.174 Billion
ARCO BP Amoco PLC United Kingdom $27.224 Billion
Texaco-US Refining & Marketing Shell Oil-Western US Business Netherlands $3.964 Billion

-list cont'd at: http://www.economyincrisis.org/article_15.html

[enigma000]

1. And the worth of foreign companies that Americans bought?

The global economy works both ways.

[Demeter]

2. You Mean the Ones America Trashed?

The greatest fear in the world these days must be getting bought up, chewed up, and spit out by American-trained managers.