commissioner.org
| Source | News for Social Justice Action |
| Date | 05/12/30/20:31 |
| $1.3 Trillion of American Companies Sold to Foreign Corps
www.economyincrisis.org 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 Pennzoil-Quaker State Co Shell Oil Co Netherlands $2.909 Billion Texaco Inc-Refining Operations Saudi Refining Inc Saudi Arabia $1.280 Billion Amerada Hess-St Croix Refinery PDVSA Venezuela $0.932 Billion Chevron Corp-Port Arthur,TX Clark Refining & Marketing Inc Canada $0.825 Billion Monsanto Oil Co(Monsanto Co) BHP Petroleum(Americas)Inc Australia $0.745 Billion CITGO Petroleum Corp Propernyn BV Netherlands $0.662 Billion Other $29.603 Billion Total $116.317 Billion Telecommunications AirTouch Communications Inc Vodafone Group PLC United Kingdom $60.287 Billion VoiceStream Wireless Corp Deutsche Telekom AG Germany $29.404 Billion AT&T-Worldwide Assets,Ops British Telecomm-Worldwide United Kingdom $5.038 Billion GE Americom Communications SES Global SA Luxembourg $4.326 Billion Cellular Communications Intl Kensington Acquisition Sub Inc Italy $1.688 Billion Loral Space-Satellites(6) Intelsat Ltd Bermuda $1.100 Billion QUALCOMM-Land-Based Wireless Kyocera Corp Japan $1.000 Billion GE Capital Spacenet Services Gilat Satellite Networks Ltd Israel $0.228 Billion Lockheed Martin Corp-World Intelsat Ltd Bermuda $0.120 Billion Other $43.239 Billion Total $146.429 Billion Transportation Equipment Chrysler Corp Daimler-Benz AG Germany $40.466 Billion ITT Inds-Automotive Electrical Valeo SA France $1.700 Billion AlliedSignal Auto-Braking Busn Robert Bosch GmbH Germany $1.500 Billion Blue Bird Corp Henlys Group PLC United Kingdom $0.665 Billion Motor Coach Industries Intl Consorcio G Grupo Dina'l'ads Mexico $0.335 Billion Dana Corp-Driveline Business GKN PLC-Driveline Assembly United Kingdom $0.108 Billion Mack Trucks Inc Renault Vehicules Industriels France $0.104 Billion Delphi Automotive Sys-Magnaque San Huan Group Inc China $0.070 Billion General Motors-Assembly Line China-General Engine Factory China $0.017 Billion Dana Corp-Kirkstall Forging Bharat Forge Ltd India $0.006 Billion Other $9.247 Billion Total $54.217 Billion Printing, Publishing, and Allied Services Harcourt General Inc Reed Elsevier Group PLC United Kingdom $5.603 Billion Simon & Schuster-Educ,Prof Pearson PLC United Kingdom $4.600 Billion West Publishing Co Thomson Corp Canada $3.425 Billion Macmillan Inc Maxwell Communication Corp United Kingdom $2.522 Billion Houghton Mifflin Co Vivendi Universal SA France $2.272 Billion Ziff Davis Media Inc Softbank Corp Japan $2.100 Billion CBS Records Group(CBS Inc) Sony Corp Japan $2.000 Billion Random House Inc Bertelsmann AG Germany $1.300 Billion Doubleday-Publishing&Printing Bertelsmann AG Germany $0.500 Billion Harper & Row Publishers Inc News America Holdings Inc Australia $0.293 Billion Addison-Wesley Publishing Co Pearson Inc(Pearson PLC) United Kingdom $0.273 Billion Other $31.483 Billion Total $56.371 Billion Mining Magma Copper Co BHP Australia $2.432 Billion NERCO Inc Kennecott Corp(RTZ Corp PLC) United Kingdom $1.162 Billion Cyprus Amax-US Coal Mining Ops RAG International Mining Gmbh Germany $1.100 Billion Getchell Gold Corp Placer Dome Inc Canada $1.079 Billion ASARCO Inc Nueva Grupo Mexico SA de CV Mexico $1.073 Billion Other $12.281 Billion Total $19.126 Billion Insurance John Hancock Finl Svcs Inc Manulife Financial Corp Canada $11.063 Billion TransAmerica Corp Aegon NV Netherlands $9.691 Billion Farmers Group Inc BATUS Inc(BAT Industries PLC) United Kingdom $5.200 Billion CIGNA Corp-US & International ACE Ltd Bermuda $3.450 Billion American Bankers Ins Group Inc Fortis AG Belgium $2.630 Billion Providian Corp-Insurance Aegon NV Netherlands $2.624 Billion Other $51.261 Billion Total $85.917 Billion Electronic and Electrical Equipment AMP Inc Tyco International Ltd Bermuda $10.736 Billion DII Group Flextronics International Ltd Singapore $2.591 Billion Silicon Valley Group Inc ASM Lithography Holding NV Netherlands $1.561 Billion ChipPAC Inc ST Assembly Test Services Ltd Singapore $1.459 Billion VLSI Technology Inc Koninklijke Philips Electronic Netherlands $1.163 Billion GTE Electrical Prods-Sylvania Osram GmbH Germany $1.000 Billion Artisan Components Inc ARM Holdings PLC United Kingdom $0.933 Billion Exide Electronics Group Inc BTR PLC United Kingdom $0.583 Billion Westinghouse Elec-Power Equip Asea Brown Boveri(ABillion Asea) Sweden $0.370 Billion Zenith Electronics Corp LG Electronics Inc South Korea $0.186 Billion Natl Semiconductor Corp-Bus VIA Technologies Inc Taiwan $0.167 Billion Natl Semiconductor-Chip Plant Matsushita Electric Industrial Japan $0.100 Billion Other $40.773 Billion Total $61.622 Billion Drugs SmithKline Beckman Corp Beecham Group PLC United Kingdom $7.922 Billion Marion Merrell Dow Inc Hoechst AG Germany $7.265 Billion Syntex Corp Roche Holding AG Switzerland $5.307 Billion Rorer Group Inc Rhone-Poulenc SA France $3.476 Billion SICOR Inc Teva Pharma Inds Ltd Israel $3.401 Billion Genentech Inc Roche Holding AG Switzerland $1.530 Billion Chiron Diagnostics Corp Bayer AG Germany $1.100 Billion Other $30.301 Billion Total $60.302 Billion Computer and Office Equipment IBM Corp-Hard Disk Drive Hitachi Ltd Japan $2.050 Billion Kingston Technology Corp Softbank Corp Japan $1.071 Billion Amdahl Corp Fujitsu Ltd Japan $0.925 Billion Maxtor Corp Hyundai Electn Industries Co South Korea $0.228 Billion Quantum-Recording-Head Bus Matsushita Kotobuki Electn Ind Japan $0.200 Billion Proxima Corp ASK AS Norway $0.083 Billion Other $28.337 Billion Total $32.894 Billion Machinery United States Filter Corp Vivendi SA France $6.318 Billion Westinghouse-Conven Power Gen Siemens AG Germany $1.525 Billion Rexnord Corp BTR Dunlop Holdings(BTR PLC) United Kingdom $0.815 Billion Progressive Tool & Industry Co Fiat SpA Italy $0.630 Billion Detroit Diesel DaimlerChrysler AG Germany $0.581 Billion Pinnacle Automation Inc FKI PLC United Kingdom $0.425 Billion Ingersoll-Rand-Drilling Bus Atlas Copco AB Sweden $0.225 Billion Other $13.588 Billion Total $24.106 Billion Metal and Metal Products Triangle Industries Inc Pechiney SA France $3.658 Billion Lucent Tech-Optical Fibre Unit Furukawa Electric Co Ltd Japan $2.127 Billion Inland Steel Co Ispat International NV Netherlands $1.427 Billion AlliedSignal Laminate Systems Rutgers AG Germany $0.815 Billion Cargill Inc-Cert Steel Asts Gerdau Ameristeel US Inc Canada $0.266 Billion Other $14.722 Billion Total $23.015 Billion Investment & Commodity Firms,Dealers,Exchanges PaineWebber Group Inc UBS AG Switzerland $12.243 Billion Aetna-Fin'l Svcs & Int'l Bus ING Groep NV Netherlands $4.933 Billion PIMCO Advisors Holdings LP Allianz AG Germany $1.930 Billion Scudder Stevens & Clark Inc Zurich Versicherungs GmbH Switzerland $1.667 Billion AIM Management Group Inc Invesco PLC United Kingdom $1.599 Billion Dain Rauscher Corp Royal Bank of Canada Canada $1.354 Billion First Boston Inc Credit Suisse First Boston Switzerland $1.100 Billion Brinson Partners Inc Schweizerischer Bankverein Switzerland $0.750 Billion Warburg Pincus Asset Mgmt Credit Suisse Asset Management Switzerland $0.650 Billion Dillon Read & Co(UBS AG) SBC Warburg(Swiss Bank Corp) Switzerland $0.600 Billion Other $39.379 Billion Total $66.205 Billion Commercial Banks, Bank Holding Companies Bankers Trust New York Corp Deutsche Bank AG Germany $9.082 Billion Republic New York Corp,NY,NY HSBC Holdings PLC{HSBC} United Kingdom $7.703 Billion Banknorth Group Inc,ME Toronto-Dominion Bank Canada $3.813 Billion Centura Bank Inc,NC Royal Bank of Canada Canada $2.320 Billion Mellon Fin-Retail Banking Bus Citizens Financial Group,RI United Kingdom $2.100 Billion Other $18.572 Billion Total $43.590 Billion Motion Picture Production and Distribution MCA Inc Matsushita Electric Industrial Japan $7.406 Billion Columbia Pictures Entmnt Sony USA Inc(Sony Corp) Japan $4.792 Billion MGM/UA Communications Co Pathe Communications Corp Luxembourg $1.709 Billion All American Communications Pearson PLC United Kingdom $0.500 Billion RCA Columbia Home Video Columbia Pictures Entmnt Japan $0.350 Billion Other $3.546 Billion Total $18.303 Billion Chemicals and Allied Products Nalco Chemical Co Suez Lyonnaise des Eaux SA France $4.063 Billion American Cyanamid Agri Product BASF AG Germany $3.900 Billion Quantum Chemical Corp Hanson PLC United Kingdom $3.220 Billion Loctite Corp Henkel KGaA Germany $1.289 Billion Merck-Crop Protection Business Novartis AG Switzerland $0.910 Billion Other $37.249 Bil. Total $50.630 Billion Rubber and Miscellaneous Plastic Products Firestone Tire & Rubber Co Bridgestone Corp Japan $2.533 Billion Uniroyal Goodrich Tire Co Michelin SA France $1.500 Billion Gates Corp Tomkins PLC United Kingdom $1.400 Billion Johnson Controls-Plastic Div Schmalbach-Lubeca AG(Viag AG) Germany $0.650 Billion General Tire Inc(GenCorp) Continental AG Germany $0.625 Billion Other $9.716 Billion Total $16.424 Billion Food and Kindred Products Bestfoods Unilever PLC United Kingdom $25.065 Bil. Ralston Purina Co Nestle SA Switzerland $10.479 Bil. Miller Brewing(Philip Morris) South African Breweries PLC United Kingdom $5.574 Billion Pfizer Inc-Adams Cadbury Schweppes PLC United Kingdom $4.200 Billion Gerber Products Co Sandoz AG Switzerland $3.686 Billion Dr Pepper/Seven-Up Cos Inc Cadbury Schweppes PLC United Kingdom $2.367 Billion Slim-Fast Foods Co Unilever NV Netherlands $2.300 Billion Snapple Beverage Group Inc Cadbury Schweppes PLC United Kingdom $1.450 Billion Beringer Wine Estates Holdings Fosters Brewing Group Ltd Australia $1.447 Billion Tropicana Products Inc Joseph E Seagram & Sons Inc Canada $1.200 Billion Other $26.150 Billion Total $83.917 Billion Credit Institutions Household International Inc HSBC Holdings PLC{HSBC} United Kingdom $15.294 Billion CIT Group Inc Tyco International Ltd Bermuda $9.341 Billion AT&T Capital Corp(AT&T Corp) Investor Group United Kingdom $2.129 Billion Genstar Corp Imasco Enterprises(Imasco) Canada $1.842 Billion Peoples Bank-Credit Card Bus Royal Bank of Scotland Group United Kingdom $0.518 Billion HealthCare Financial Partners Heller Financial Inc Japan $0.485 Billion Other $2.584 Billion Total $32.193 Billion Electric, Gas, and Water Distribution PacifiCorp Scottish Power PLC United Kingdom $12.600 Billion Niagara Mohawk Holdings Inc National Grid Group PLC United Kingdom $8.048 Billion American Water Works Co Inc RWE AG Germany $7.726 Billion LG&E Energy Corp PowerGen PLC United Kingdom $5.426 Billion New England Electric System National Grid Group PLC United Kingdom $4.217 Billion Tejas Gas Corp Shell Oil Co Netherlands $2.166 Billion United Water Resources Inc Suez Lyonnaise des Eaux SA France $1.845 Billion Gas Transmission NW Corp TransCanada Corp Canada $1.703 Billion Other $11.892 Billion Total $55.622 Billion Business Services Ernst & Young-Consulting Bus Cap Gemini SA France $11.774 Billion LHS Group Inc Sema Group PLC United Kingdom $4.338 Billion Nielsen Media Research Inc VNU NV Netherlands $2.788 Billion ACNielsen Corp VNU NV Netherlands $2.341 Billion Sensormatic Electronics Corp Tyco International Ltd Bermuda $2.203 Billion Shared Medical Systems Corp Siemens Corp Germany $2.058 Billion Safety-Kleen Corp Laidlaw Environmental Services Canada $1.804 Billion Combustion Engineering Inc Asea Brown Boveri(ABillion Asea) Sweden $1.795 Billion MCI Communications Corp-Whl Cable & Wireless PLC United Kingdom $1.750 Billion Experian Corp Great Universal Stores PLC United Kingdom $1.700 Billion Manpower Inc Blue Arrow PLC United Kingdom $1.328 Billion Primark Corp Thomson Corp Canada $1.081 Billion Island ECN Inc Instinet Corp(Reuters Group) United Kingdom $0.543 Billion Zenith Computer Group(Zenith) Cie des Machines Bull France $0.496 Billion Knight-Ridder Information Inc MAID PLC United Kingdom $0.420 Billion Pinkerton's Inc Securitas AB Sweden $0.383 Billion Other $72.510 Billion Total $109.312 Billion |
Copyright (c) 1998, Joongpil Cho