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Friday, June 13, 2008

One-way patriotism or jingoism should make everyone "Hop"ping Mad

AP reports that "U.S. politicians are already protesting Belgian brewer InBev's unsolicited $46 billion bid to buy Anheuser-Busch Cos. Inc. and absorb the iconic brewery to create the world's fourth largest consumer products company....Missouri's Republican Gov. Matt Blunt said he opposes the deal and has directed the state Department of Economic Development to see if it can stop it. Blunt's former chief of staff co-founded a Web site called SaveAB.com that has passed an electronic petition opposing the deal to federal lawmakers. The site promises to hold anti-InBev rallies in the downtown St. Louis Busch Stadium.
Political repercussions from InBev's offer even touch the presidential race. Republican presumptive nominee John McCain's wife Cindy shares roughly $1 million worth of Anheuser-Busch stock with the McCain children. Cindy McCain's father founded Hensley & Co., a Phoenix beer distributor that describes itself as the third-largest Anheuser-Busch wholesaler in the United States."
Lou Dobbs of CNN has been railing for sometime about Exporting America and America being for sale and has criticized this Bud deal as well as Pennsylvania's move to lease the turnpike to a U.S. Spanish consortium.
Earlier this year the joint deal by Huawei and Bain Capital to buy 3Com was derailed by the U.S. Government on security concerns.

Now, where were all these critics when:

  • GM completed the purchase of Saab, the Swedish icon, in 2000 (GM had owned part of Saab for a few years)
  • GM bought Daewoo, a South Korean icon, in 2002
  • Ford bought Jaguar, the iconic British brand, in 1989
  • Coca-Cola bought Limca, Thums Up, and Maaza in 1992, all iconic drink brands of India
  • Wal-Mart Stores bought Trust-Mart, one of the biggest and well known retailers in China
  • IBM bought Daksh, the third largest outsourcing firm in India, in 2004
Looks like it is a big problem ONLY when a foreign company wants to buy a U.S. based company. When American companies acquire iconic assets of foreign countries, no voices are raised. Therefore it should come as no surprise that quite a few foreigners have an extremely low regard for the U.S. government and its citizens who elect the government.

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