As the U.S. dollar weakens, American commodities are cheaper to buy. This is good for American exporters but not so good for the American importers. In view of the shrinking dollar, many U.S. critical assets are being purchased by other countries. For example, yesterday we posted about the potential sale of Anheuser-Busch Inc. to Belgian brewer InBev for $52 billion.
It was also recently in the news
, that an Arab investment group is bidding for the the iconic landmark, the Chrysler Building,
which could become the latest New York icon snapped up by oil-rich foreigners. The cash-happy Abu Dhabi Investment Council
is in talks to buy a 75 per cent stake in the Art Deco treasure for some $800 million.
Just last month, the GM Building
and three other properties were sold for nearly $4 billion to a group of investors, including the wealth funds of Kuwait and Qater and Boston Properties.
Below are some other American icons and their current owners:
- Citgo – Venezuela
- Good Humor – British/Dutch (Unilever)
- Ben and Jerry’s – British/Dutch (Unilever)
- French’s Mustard – British
- Frigidaire – Sweden
- Caribou Coffee – Bahrain
- Church’s Chicken – Bahrain
- Trader Joes – German
- 7-Eleven – Japan
- Holiday Inn – British
- Dial Soap – Germany
- T-Mobile – Germany
- Firestone – Japan
- Sunglass Hut – Italy
- Indiana Toll Road – Spain/Australia
- Chicago Skyway – Spain/Australia
Now the trend is selling American real-estate (major buildings in large cities) which are being purchased by foreign capitalists with deep pockets.
Something similar is happening in Panama, We have also sold much of our largest assets to foreign investors (e.g., toll roads, banks, cement factories, breweries, dams, electric companies, telephone companies, hotels, etc.). Soon we will only have the Panama Canal to sell to the highest bidder.
Source: America For Sale ???
Tags: Inventment, American Icons, Panama, Real Estate, Weak Dollar