Author Topic: where is your money going  (Read 321 times)

Offline space otter

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where is your money going
« on: December 07, 2017, 04:30:41 PM »
i have not fact checked these lists but i would think it a safe bet they are correct..for the moment

a few surprised me but most just make me sad

It may come as news to you, but an increasing number of quintessentially American firm are no longer U.S.-owned.

Famed the nation over for its Slurpees and Big Gulp drinks, 7-Eleven is all-American. Except it's actually Japanese. The chain of convenience stores, which was founded in Texas in 1927, was bought by Tokyo-based firm Seven & I Holdings in 1991 for a supersized $1 billion.

The American tire company was established in 1901 by Harvey Firestone and pioneered the mass production of car tires. Firestone was a close friend of Henry Ford and ended up supplying tires for Ford's vehicles. Now Japanese-owned, the firm was sold to Tokyo's Bridgestone Corp. in 1988.

Ingram Micro is the planet's largest technology products wholesaler and a major player in the global IT industry. Founded in 1978 in Nashville, Tennessee, the firm was U.S.-owned until last year when it was sold to a subsidiary of China's HNA Group for $6 billion.

Trailblazing IBM revolutionized the home computer market in the U.S. following the launch of its first model in 1981, but by the 2000s the firm's PC operation was faltering. Enter China's Lenovo. The Beijing company bought IBM's PC Division for a cool $1.25 billion in 2005.

American Apparel might want to consider a name-change given its current ownership. The hip Californian clothing company that used to produce its wares in American factories went bankrupt in 2015 and is now owned by Gildan, a Canadian manufacturing firm, which has outsourced much of the production to Honduras.

Synonymous with Big Apple glitz and glamor, the landmark Waldorf Astoria hotel in New York City was acquired by Chinese insurance giant Angbang Insurance Group in 2014 for $1.95 billion. The group is planning to convert some of the hotel's rooms into luxury condos.

Angbang increased its U.S. presence two years later by acquiring Strategic Hotels & Resorts for $6 billion. The American firm, which was sold by investment company Blackstone, has a number of Ritz-Carlton and Four Seasons hotels in its portfolio.

Smithfield, America's premier pork producer, boasts brands like Smithfield and Cook's in its portfolio and is now Chinese-owned. Shuanghui Group, the world's leading pork producer, bought the company for $4.7 billion in 2013.

One of America's most recognized manufacturers of refrigerators, dishwashers and other electricals, General Electric's appliance division was snapped up in 2016 for $5.4 billion by Chinese white goods company Haier.

Hoover is as American as apple pie but not many people are aware that the U.S. division of the vacuum cleaner company was sold by Whirlpool to Hong Kong-based investment company Techtronic Industries in 2007 for $108 million.

Motorola has a proud history dating all the way back to 1928, when brothers Paul and Joseph Galvin brought the world the first car radio. The company, which went on to pioneer the walkie talkie and mobile phone, was split into two divisions in 2011, and its Mobility arm was sold to China's Lenovo three years later for $2.9 billion (£2.2bn).

Dalian Wanda, the Chinese conglomerate run by the country's richest man Wang Jianlin, acquired North American cinema behemoth AMC Theaters for $2.6 billion in 2012. The Chinese group now controls 5,048 cinema screens in 347 movie theaters across the U.S. and Canada.

Continuing the shopping spree, Dalian Wanda added an American movie studio to its bulging portfolio last year. The Chinese conglomerate parted with $3.5 billion to take over Legendary Entertainment Group, the firm that co-financed movies from "Jurassic World" to "Warcraft."

This U.S. manufacturer of vacuum cleaners originated in 1905 and is American as they come, but parent company Royal Appliances Manufacturing Co. was actually bought by Hong Kong's Techtronic Industries in 2002 for $105.5 million.

You may think the company that publishes Forbes Magazine is wholly American-owned but you'd be wrong. The U.S. business publisher was sold to Hong Kong's Integrated Whale Media Investments in 2014 for an undisclosed sum.

This well-known pet food firm started out in the late 19th century making feed for livestock. The firm was founded by social campaigner William H. Danforth and was American-owned until 1986 when it was sold to British Petroleum. The firm was subsequently bought by Swiss giant Nestlé.

Gerber is the prototypical American baby food firm, despite the fact it's now owned by the Swiss. Founded in 1927 by Daniel Frank Gerber in Fremont, Michigan, the company merged with Sandoz Laboratories in 1994 and, like Purina, was later acquired by Switzerland's Nestlé.


Citgo was founded in the early 20th century by Ohio oilman Henry Latham Doherty, who turned it into one of America's leading oil companies. The firm was sold to the Venezuelan state oil and gas corporation in 1990 and may soon be Russian. Last year, crisis-hit Venezuela put up Citgo as collateral for its mounting Russian debt.

Founded in 1918, Frigidaire developed the world's first self-contained refrigerator in its factory in Fort Wayne, Indiana, and was a big player in the burgeoning air conditioning market. Owned for years by General Motors, the company ended up in the hands of Sweden's Electrolux in 1986.

The oldest firm in our round-up, the John Hancock Life Insurance Co. was established by its namesake in 1862 and remained wholly American-controlled until 2004, when it was bought by Canadian insurer Manulife Financial Corp.

The budget U.S. hotel chain dates back to 1952 and was named after the classic Christmas movie "Holiday Inn." The chain was American-owned until 1988 when it was acquired by the hotels division of British brewery Bass, which is now called the InterContinental Hotels Group.

Perhaps Good Humor should now be spelled "Good Humour"? The American ice cream company was founded in Ohio in 1923 but acquired in 1961 by the UK's Lipton and is now a subsidiary of British-Dutch company Unilever.

Unilever also owns Popsicle, which was bought by Good Humor in 1989. Now a generic trademark for an ice pop, Popsicle began life in 1924 when California native Francis Epperson patented his "frozen confectionery" on a stick.

The chain of eco-conscious supermarkets is named after its founder Joe Coulombe, who established the business in Pasadena, California, back in 1967, but Trader Joe's has in fact been German-owned for decades. The firm was acquired by Aldi's Theo Albrecht in 1979 and is now owned by his heirs.

Founded in Florida in 1953, Burger King was American-owned until parent Pillsbury was acquired by British firm Grand Metropolitan (now Diageo) in 1989. The fast food chain has changed hands several times since and is now owned by Canada's Restaurant Brands International.

Sunglass Hut was founded in 1971 by optometrist Sanford L. Ziff, who opened the firm's first store in Miami. By the 1980s, the chain had established itself as one of America's leading sunglasses stores. Now Italian, it was bought in 2001 by the Milan-headquartered Luxottica Group in a $653 million deal.

The brainchild of Ben Cohen and Jerry Greenfield, the much-loved ice cream company started life in Vermont back in 1978 and has become a household name thanks to flavors like Phish Food and Cherry Garcia. Less well known is the fact Ben & Jerry's is owned by a British-Dutch company – it was sold to multinational Unilever in 2000 for $326 million.

In 2015, Dalian Wanda raided the company coffers yet again to buy the World Triathlon Corp from America's Providence Equity Partners LLC for a cool $900 million. The corporation owns the world-famous Ironman brand and organizes triathlon events worldwide.

The company that makes Budweiser came about in 1879 in St. Louis and is named after its founders, Eberhard Anheuser and his son-in-law Adolphus Busch. The firm remained American until 2008 when it merged with Belgium brewing giant InBev in a deal worth almost $52 billion.

While there remain a number of U.S.-based flag manufacturers, the Census Bureau says we imported $5.4 million worth of stars and bars last year, 98% of which came from China. As a side note, the Census Bureau also notes $27.8 million worth of flags were exported in 2016, with 94% of them going to Mexico.

Sears Holdings (SHLD), owner of the self-named chain of mall anchor stores, sold the Craftsman tool line to Stanley Black & Decker (SWK) earlier this year for $900 million. While these tools were long touted as being made in America, Craftsman tools are now made by One World Technologies, a China-based subsidiary of Techtronic Industries (TTNDY), which Sears had to sue to make it keep producing the tools. Stanley, however, says it will move more of its Craftsman manufacturing back to the U.S.

While Stanley Black & Decker does have several dozen U.S. manufacturing facilities, and the company notes it has "continuously manufactured in the U.S. since 1843," most of its tools are made in China. Black and Decker did recently announce it would be opening a new manufacturing plant in Texas as part of a broader plan to move more production back to the U.S.

Michael Dell may have started off making his namesake computers in his garage, but today Dell Technologies (DVMT) produces them in China. The company closed its last U.S.-based factory in North Carolina in 2010 before shipping production overseas.

Although denim was originally made in Italy, Levi Strauss & Co.'s mass production of them in the late 1800s caused the cotton fabric -- and the Levi's name -- to become closely associated with the U.S. But in 2003, Levi Strauss closed down its U.S. manufacturing plants and moved production to China, Vietnam, Turkey and other countries.

The official ball manufacturer for Major League Baseball is Rawlings, one of the sporting goods brands owned by Newell Brands (NWL). Early on, it was an American-made product, but today Rawlings baseballs are shipped in from Costa Rica. At least the Louisville Slugger is still made in Kentucky.

Barbie is about as iconic of an American doll as you can find, and American Girl dolls, as their name suggests, focus on telling the stories of girls throughout American history. But owner Mattel (MAT) hasn't had a U.S. manufacturing facility since 2002, and today both dolls are made in China (prior to being sold to Mattel, American Girl dolls were manufactured in Germany).

Just as quintessentially American as Barbie, Hasbro's (HAS) G.I. Joe was the world's first action figure, and it originally represented the four branches of the U.S. military. Its name came from the movie about U.S. war correspondent Ernie Pyle, "The Story of G.I. Joe." But like Mattel, the toymaker relies on manufacturing facilities in China, as well as India, for many of its toys -- including G.I. Joe.

The epitome of capitalist games, Monopoly has a rich history dating back to the early 1900s, though the version we play, with its Atlantic City-themed properties, is popularly credited to Charles Darrow. Parker Brothers bought the rights to it, but the company was subsequently acquired by Hasbro, and it manufactures the houses and hotels -- you know, the pieces that make your opponents go bankrupt and flip the board over in rage -- in Ireland.

The red wagon that went on to become the iconic Radio Flyer we know today was originally made in Chicago from wood, and it was called the Liberty Coaster in honor of the Statue of Liberty. Following the example of the auto industry, the company began making the wagons out of steel, and after the world's first transatlantic telegraph message was sent, and Charles Lindbergh flew nonstop to Paris, the wagons were rechristened Radio Flyers. Today, the little red wagons are made in China.


« Last Edit: December 07, 2017, 04:34:50 PM by space otter »

Offline ArMaP

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Re: where is your money going
« Reply #1 on: December 07, 2017, 05:08:39 PM »
Why is American Apparel included in the Chinese companies if it's owned by a Canadian company?

Offline space otter

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Re: where is your money going
« Reply #2 on: December 07, 2017, 07:55:25 PM »
oh Armap must have been an editor in your past

it's there cause when i checked it over i missed that..if you look at the links you will see that i was going back and forth to do the lists and i mis-placed it..
so there.... :P

it's too late now for me to move it (modify button is long gone...sigh).. so since you saw it you can move it and toss this conversation..or not hahahahahahaha are such a's what i have always liked about you

« Last Edit: December 07, 2017, 08:02:03 PM by space otter »

Offline ArMaP

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Re: where is your money going
« Reply #3 on: December 08, 2017, 06:28:26 AM »
oh Armap must have been an editor in your past
No in a past life, some years ago I was doing proofreading for Project Gutenberg. :)

Offline space otter

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Re: where is your money going
« Reply #4 on: December 08, 2017, 08:40:11 AM »

  8)   figures..   ;D

you say potAto and i say potato
Editing versus Proofreading
The greatest debate in the world
(for writers, anyway!)

i do count on your skills though - so thanks

Offline ArMaP

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Re: where is your money going
« Reply #5 on: December 08, 2017, 09:04:43 AM »
you say potAto and i say potato
No, I say "batata". ;)

Offline space otter

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Re: where is your money going
« Reply #6 on: December 08, 2017, 09:12:07 AM »

well hell while you are multi-lingual I am stuck with just english...sigh

Offline SerpUkhovian

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Re: where is your money going
« Reply #7 on: December 08, 2017, 04:43:05 PM »
BFGoodrich tire company (you know, the guys that don't have a blimp) is owned by Michelin, a French company.
Have you noticed since everyone has a cell phone these days no one talks about seeing UFOs like they used to?

Offline zorgon

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Re: where is your money going
« Reply #8 on: December 09, 2017, 01:27:57 PM »
Won't be any American owned land for much longer :P

All our jobs are going to China, all our manufacturing going to China and now you can't afford to keep your home so the Chines will buy it cheap when you have to go into foreclosure...

Velcome to Amellica :P

Chinese Foreclosure Tourists Shopping In U.S.

Chinese Investors Snap Up Property in Bankrupt Detroit

JPMorgan sells New York building to Chinese firm for $725 million

The Chinese Are Buying Large Chunks Of Land Across America (And Zillow Is Now Enabling It)

Chinese To Spend Billions On American Real Estate

New York's Plaza Hotel Up for Sale in Foreclosure Auction
By Hui-yong Yu

Billionaire brothers David and Simon Reuben hold the mortgage on the five-star hotel and have scheduled a foreclosure auction for April 26, according to a person with knowledge of the matter, who asked not to be named because the sale hasn’t been made public yet. The Reubens bought the loan from Bank of China Ltd. after a default by the property’s current majority owner, Sahara India Pariwar, last year. Sahara is controlled by Subrata Roy, who was imprisoned in India in early 2014 for defrauding investors.

Donald Trump bought the Plaza in 1988 and married his second wife, Marla Maples, there. Trump sold it to a group including Prince Alwaleed bin-Talal of Saudi Arabia, who then sold it to Israel’s Elad Group, which converted some of the hotel rooms to condominiums. Bin-Talal retains a minority stake in the Plaza, as does an entity tied to hotelier Sant Singh Chatwal.

The sale of the Plaza -- the site of the 1985 signing of the historic Plaza Accord to devalue the U.S. dollar -- comes at a time of strong investor interest in trophy real estate. China’s Anbang Insurance Group Co. last year paid $1.95 billion for Manhattan’s landmark Waldorf Astoria hotel, and this month agreed to buy Strategic Hotels & Resorts Inc., an owner of luxury properties, for about $6.5 billion, according to people with knowledge of the matter. It also has made a surprise $12.9 billion bid for Starwood Hotels & Resorts Worldwide Inc.
« Last Edit: December 09, 2017, 01:29:48 PM by zorgon » USA, LLC
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