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Another U.S. Corp. bought by Chinese

J

jwmfarms

Member
Smithfield Packing/Foods, the world's largest producer of pork products, has just announce it has agreed to be sold to a Chinese co. for 4.72 billion dollars. It's already hard enough to find something that isn't made in, or controlled by the Chinese. Where will it all end?

I don't think I will be buying any more Smithfield products, especially with their food safety record.
 
What's the difference? The Brazilians bought Swift didn't they? It's not like they'll be importing Chinese animals for slaughter or doing it under Chinese inspection instead of USDA.
 
All of our major beer manufacturers are foreign owned. I don't think your boycotting will help. (Shrug)
 
every time some one choose's to buy a product that is for foreign made (Walmart, harbor freight, etc ) it strengthens their buying power. make a choice!
 
You will most likely find more American companys in China than China companys in America. Chinese companys in America have to follow our federal safety and health rules. American companys in China only have to follow Chinese Safety and Health rules. American companys in China use Chinese labor. Chinese companys in America use American labor. Not sure how I would fall on this deal. To bring back more American jobs something would have to be done to change our highest in the world corporate tax rate.
My math seems to think that our High tax X 0 = 0 which is what you gt when a company moves off shore.
 
The problem with foreign ownership is wealth. Not "I'm richer than you" wealth, but the return to the US in dollar/capital investment by corporate ownership which does not happen in the US if the owners are in China (or Europe). They use the US business to make money and they spend it in their own country. Hopefully jobs will be maintained so the workers can go to Walmart and buy more Chinese junk.
 
And the meat will still be processed and packed in the US by illegal aliens,just as it has been the last 30 or so years
 
Si senior. Who cares where the profit margin goes if you turn a blind eye to where the paychecks go? If the whole idea is 'jobs for Americans'... let's start at the time clock... and the welfare office....
 
I think you will see more and more US companies selling out to large holders of US bonds. Why would the Chinese want to hold onto US bonds and have 1 trillion in dollars sitting around. They are buying things with the bonds, like businesses and other valuable assets. Think of it like this, if you had billions and billions of dollars would you not want to secure yourself and your family with assets/commodities and other useful things other than paper money.
 
Just hope the quality is better than most of the tools and other items they make over there. Wait, I mean everything they make there is pretty much junk. If I owned that company I would have scrapped it off one piece at a time before I would have sold it to a chinese company.
 
Short term that is good news for our grain farmers. they will import a lot of pork into China.

Long term it is a bad sign, our labor and taxes are too high to compete in the USA, and now our poor ecconomic policies of protecting banks has devalued our dollar to the point other countries hold enough leverage on us they can buy out the management.

This means we are too high priced on labor for the world, and we are too low priced on assets for the world, so we lose both ways.

Banks and govts will thrive in the USA, everyone else is cut for a loss.

Paul
 
I wouldn't have any fear of Chinese products made by real Chinese companies. They have pride in quality. It's the garbage made by American companies IN China that are junk.
 
Continental Grain is the second largest shareholder. They had been after the management to break it up into several entities. Seems as though the parts were worth more than the whole. Instead, management made a deal to sell it as a whole to the Chinese, but retain their own jobs for a period of time. True, they paid a 31 pct. premium for the stock, but what do you want to bet those same management folks exercised a bunch of stock options this morning. I'm all for making a profit. It just makes me mad to see another of our iconic American brands fall into foreign ownership. Doubly so, because this was and old Virginia company, and I'm an old Virginian! LOL!
 

I seem to recall the same level of "concern" when we thought the Japanese were going to own us. Turns out they can't take all those buildings and businesses back to Japan, the Chinese won't either. But they leave the dollars here with the seller.
 
"Our labor and taxes are too high" I have a grand-daughter, 2 years of school left, straight A student and she can't get a job, period. She and her sister ate breakfast this morning at a fast food place, it cost them $15. How does the disparity between wages and expenses add up?
 
I thought you posted an odd comment that there was American companies in China ,so I googled it. There are at least 339 major brand name American companies in China. These are names we all buy from. Now I know where all the jobs went! I'm signing up for Kung-Fu lessons right away! We are going to turn Chinese.
 
US companies have plants in China. Til the Chinese decide that they can make whatever it is that the factory is making and make more money, so they kick GM out of their own plant and start building Chery (yes, that"s "Chevy" with an "r" instead of a "v")cars there.
 
The US corporate tax rate is not the highest. Japan's is higher, and several other countries are higher.
 
I refuse to buy anything Chinese, on principle.
Does that make me a racist? I thought I was being patriotic.
 
They can't get a job at a fast food reastuarnt! Because where I live there all hiring but that stinks they can't get a real job I get what your saying.
 
That's based on thousands of years of Chinese knowledga of science and technology and their pride in themselves. We've LET ourselves be sold junk by AMERICAN compaines who tell us it's patriotic to buy their garbage that they build for next to nothing using cheap foreign labor and inferior design and materials. Made here by an American company? Fine. Made there by a Chinese company,also fine. Made there by an American company,bend over.
 
We're a debtor nation living beyond our means to the tune of 1 Trillion$$ a year,China is a lender nation living below their income level.Debtor nations always end up being owned by the lender nations.
 
Last I knew USA was 39 and Japan was 38. I have not heard of any country's over 39 or 38. Some states here add as much as 12% to the federal.
 
I don't trust chinese metallurgy. Ever bought a set of brake rotors off them? Between that and their overpopulation, they don't really care if the car crumbles around you in a crash or if it holds together and protects you.
 
I looked up the 2012 numbers. I had it wrong. See for your self.
---------------------------------------------------

Argentina 43.2 47.8 41.5 1
Chad 36.4 40.5 35.5 2
Uzbekistan 35.7 39.2 34.4 3
United States 35.6 33.9 37.2 4
France 35.1 36.8 34.8 5
India 33.5 28.1 34.9 6
Colombia 33.4 35.8 32.9 7
Brazil 31.6 34.0 30.8 8
Japan 30.4 30.6 30.4 9
Venezuela 30.2 30.8 30.0 10
Korea 29.9 32.2 28.9 11
Russia 29.5 32.0 28.9 12
Costa Rica 28.2 35.3 26.1 13
U.K. 26.7 25.3 26.9 14
Spain 26.3 25.4 26.4 15
Australia 26.2 27.9 25.9 16
Austria 26.0 25.9 26.0 17
Pakistan 25.8 29.1 24.7 18
Lesotho 24.8 13.2 28.2 19
Philippines 24.7 26.1 24.2 20
Germany 24.6 26.7 23.9 21
Norway 24.5 23.3 24.6 22
Sierra Leone 23.7 17.9 24.0 23
Italy 23.2 25.2 22.7 24
Portugal 23.0 20.9 23.4 25
Peru 23.0 29.8 21.3 26
Bolivia 22.2 29.8 20.3 27
Tunisia 21.8 24.1 21.3 28
New Zealand 21.7 22.5 21.5 29
Saudi Arabia 21.0 18.2 21.7 30
Iran 20.6 28.0 19.0 31
Indonesia 20.4 23.8 18.6 32
Sweden 19.9 18.5 20.2 33
Canada 19.9 13.8 22.4 34
Tanzania 19.4 15.1 20.1 35
Kazakhstan 19.0 24.1 18.1 36
Denmark 18.9 20.8 18.5 37
Georgia 18.9 21.3 18.4 38
Jamaica 18.6 15.9 18.9 39
Finland 18.5 20.4 17.9 40
China 18.5 21.5 15.8 41
Rwanda 18.2 27.0 17.1 42
Malaysia 17.8 19.5 16.8 43
Switzerland 17.8 17.0 17.9 44
Mexico 17.5 19.0 17.1 45
Netherlands 17.3 16.2 17.6 46
 
It is kinda like Romney's wife in on buying Delphi with Paul Singer's group. They shut all the plants down but one and moved them to China. Just recently they shut the last on down and moved it to Mexico. The HQ is now on a island off the coast of France with cheaper taxes. We are just pebbles on the beach. The moneyed people just pull or push our strings, yet they are only 5% and we are 95%. What could or should we do next?? I say let Jeff Foxworth's 5th graders take over Washington. Atleast they would work!!
 
I've seen the junk imported by so called American companies that are built there. That's what I said,bend over. I don't know how things work where you live,but at the auto parts store here for example,you can get American branded American made or American branded import crap. I'll pay the extra for the good stuff. I'd trust the imported stuff more if it had the foreign brand name and foreign writing on it so I knew it was made for their market,not ours.
 
My Border Collie likes a hamburger now and then.I buy 2 and share with him.Cost 2.14.He usually gets more than I do.I remember when you bought a 5.00 meal ticket at the diner and it fed you for a week.People didnt eat too high on the hog when I was growing up.They better find a job fast.
 
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