I do not go out of my way to watch Lou Dobbs on CNN. Last time I saw his show, I wrote Lou Sobs, oops Dobbs.
At the gym this evening I saw part of his show...could not hear it , but could read the captions and it was negative about the "Chinese bid" for the "All-American company, Maytag".
Lou, how about some unemotional, fact based reporting?
a) The bid for Maytag is by a consortium which includes 2 US private equity firms
b) Maytag owns brands like Hoover. Over half of Hoover revenues come from outside the US. It is one of the best known brands in the world - so well known, that in the UK the name is both a noun and a verb.
c) In 1996, Maytag entered in to a joint venture with the Chinese Hefei Rongshida Group (later divested). It has other JVs around the world.
Lou, as your bio states you made Moneyline "the most prestigious business news program in history". You must know global M&A, joint ventures are part of multi-national business. Is it realistic to just expect foreigners to keep buying Hoover, GE, Boeing and other US brands while we close our borders to their products and investments? Should not Maytag's board and investors be allowed to decide what is best for them?
One final point - now that you consider Maytag an "All American" company do you plan to take it off your list on CNN.com of "greedy" companies which "export US jobs"?
Author's Note - July 19, 2005 - The Haier consortium announced it is dropping its bid for Maytag. Hopefully, it was for good business reasons, not because of the "hostility" .
More Lou Dobbs sobs
I do not go out of my way to watch Lou Dobbs on CNN. Last time I saw his show, I wrote Lou Sobs, oops Dobbs.
At the gym this evening I saw part of his show...could not hear it , but could read the captions and it was negative about the "Chinese bid" for the "All-American company, Maytag".
Lou, how about some unemotional, fact based reporting?
a) The bid for Maytag is by a consortium which includes 2 US private equity firms
b) Maytag owns brands like Hoover. Over half of Hoover revenues come from outside the US. It is one of the best known brands in the world - so well known, that in the UK the name is both a noun and a verb.
c) In 1996, Maytag entered in to a joint venture with the Chinese Hefei Rongshida Group (later divested). It has other JVs around the world.
Lou, as your bio states you made Moneyline "the most prestigious business news program in history". You must know global M&A, joint ventures are part of multi-national business. Is it realistic to just expect foreigners to keep buying Hoover, GE, Boeing and other US brands while we close our borders to their products and investments? Should not Maytag's board and investors be allowed to decide what is best for them?
One final point - now that you consider Maytag an "All American" company do you plan to take it off your list on CNN.com of "greedy" companies which "export US jobs"?
Author's Note - July 19, 2005 - The Haier consortium announced it is dropping its bid for Maytag. Hopefully, it was for good business reasons, not because of the "hostility" .
July 18, 2005 in Globalization and Technology, Industry Commentary, Little to do with IT, but interesting!, Offshoring Negotiations/Best Practices | Permalink