Jobs are local and not the company you say.....I wish that this was true. We talk about car,computer and all the other comapnies that produces material things but what about schools, daycare centres and so on? These things are also important....a running factory...
People will always cry "foul" on one buyout or another, but I think the Chrysler deal is a good one–as long as they continue to be a "foot-forward" product. I recently owned a Chrysler and loved the product. I hope this new merger will allow Chrysler to continue to make quality goods.
Nationalism or patriotism or being excessively proud about the success of companies or complete heartbreak by their failures: all that is nothing but absolute rubbish. Well explained Mr. Quest.......Nationalism, patriotism, etc. are only considered as important in Sports where there is not much to lose (especially things like jobs, etc.)
I agree that jobs are local, while companies are global. The recent controversy over American Air Force tanker deal shows that even defense sector opened up to a certain degree. Well, American soldiers already used Italian pistols (Berretta M92) and many parts in the ultra-modern F-22 fighter jets are Japanese, British, or German products. So should we attach too much sentiment on the nationality of companies? Probably not. One must consider more about whether the companies can create stable jobs for local economy.
Regarding the US Air Force tanker deal, Airbus/Lockheed Martin consortium promised that they would build the factory in American soil as the relevant American law required so. So, would you consider that Airbus/Lockheed Martin tanker "European," or "American"? Perhaps lawyers may cite complicated system of rules of origin. However, in the end, it contributes American defense, not European defense...
Same applies to private sector. Remember DaimlerChrysler. Were they really "German" or "American"? Of course both. So one doesn't need to worry too much about the investor is from which country. However, politicians must do their best to keep the job there once the investment comes...
Nationalism? No worry Prof. Quest....banks will overflow with taxpayers flesh Pounds of Dollars.....credit crunch or lending/borrowing difficulties? Pay bribe to the bankers and finally rent or lease yourself...Social or Job security? Life time Jobs for Government officers....and for jobless guys like me...stand on the banks of streets and a car will pull to hire or else get trashing from the police....final destination..on the hospital mattress...and all this will come when Chrysler will not pay the taxpayer's money.
Hyundai, LG, Samsung are best examples of the idea "Jobs are local, Companies are global" . These Korean companies tapped emerging markets like India very well and are market leaders in one of the most populist countries. They started factories in India and people no longer think these corporates are selling foreign goods. US is falling into the trap of a vicious protectionism in various industries like IT and will only reduce competitiveness of America's global companies.
Hello Richard, love your show just quietly but what concerns me is that naked short selling has now become so pervasive that if the hedge funds were pressed to come in and cover their naked short positions, “they would actually trigger another financial crisis.
Why arent they pressed or have I answered my own question?
Give my regards to the fantastic team at CNN, especially Becky Anderson
It is best to resign when the stakes are high andd honor lost is treatening around the corner.i hope our leaders in Africa starts have same feeling like those in the house of commons in England.
NABANGA NJEMO ELEVIS
Quest Means Business airs Monday to Friday, 1600 New York and 2100 London, and is hosted by Richard Quest.