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Selling Out - $1.3 Trillion of American Companies Sold to Foreign Corporations
Economy in Crisis

The following staggering amount of our wealth producing companies has been sold to foreign owners in the 10 years from 1995 through 2005. Below is a partial list of the 8,600 U.S. companies sold.

It is critical to understand that even if these are not all familiar corporate names, they are all very valuable strategic companies with vast amounts of technology, assets, production facilities, tax base, and employment attached to each one. In fact, many of the smallest, most unfamiliar acquisitions represent some of the most significant strategic and proprietary technology losses to this country. Many of these companies took decades, and in some cases generations, to build to their size and scope prior to acquisition.

Not only does the US lose control of the assets and technologies of these companies as of the date they were acquired, the US also loses all future profit and title to all future advancements of these companies.

These companies were the means through which America created much of its present wealth. With the loss of these companies and having no comparable replacement, it's easy to see that our future will not be as good as our past, especially since the countries that acquired these companies are now able to compete with us in almost all industries. Why are we doing this? Don't we have alternatives? Who is responsible, demand answers from your congressperson.

The following table lists only a few of the 8,600 foreign acquisitions during this period. The $1.3 Trillion figure and complete list can be verified at the US Bureau of Economic Analysis.


Oil and Gas; Petroleum Refining
Former American Corp New Foreign Owner Purchasing Country Amount Paid
Amoco Corp British Petroleum Co PLC United Kingdom $48.174 Billion
ARCO BP Amoco PLC United Kingdom $27.224 Billion
Texaco-US Refining & Marketing Shell Oil-Western US Business Netherlands $3.964 Billion
Pennzoil-Quaker State Co Shell Oil Co Netherlands $2.909 Billion
Texaco Inc-Refining Operations Saudi Refining Inc Saudi Arabia $1.280 Billion
Amerada Hess-St Croix Refinery PDVSA Venezuela $0.932 Billion
Chevron Corp-Port Arthur,TX Clark Refining & Marketing Inc Canada $0.825 Billion
Monsanto Oil Co(Monsanto Co) BHP Petroleum(Americas)Inc Australia $0.745 Billion
CITGO Petroleum Corp Propernyn BV Netherlands $0.662 Billion
Other

$29.603 Billion
Total

$116.317 Billion





Telecommunications
Former American Corp New Foreign Owner Purchasing Country Amount Paid
AirTouch Communications Inc Vodafone Group PLC United Kingdom $60.287 Billion
VoiceStream Wireless Corp Deutsche Telekom AG Germany $29.404 Billion
AT&T-Worldwide Assets,Ops British Telecomm-Worldwide United Kingdom $5.038 Billion
GE Americom Communications SES Global SA Luxembourg $4.326 Billion
Cellular Communications Intl Kensington Acquisition Sub Inc Italy $1.688 Billion
Loral Space-Satellites(6) Intelsat Ltd Bermuda $1.100 Billion
QUALCOMM-Land-Based Wireless Kyocera Corp Japan $1.000 Billion
GE Capital Spacenet Services Gilat Satellite Networks Ltd Israel $0.228 Billion
Lockheed Martin Corp-World Intelsat Ltd Bermuda $0.120 Billion
Other

$43.239 Billion
Total

$146.429 Billion









Transportation Equipment
Former American Corp New Foreign Owner Purchasing Country Amount Paid
Chrysler Corp Daimler-Benz AG Germany $40.466 Billion
ITT Inds-Automotive Electrical Valeo SA France $1.700 Billion
AlliedSignal Auto-Braking Busn Robert Bosch GmbH Germany $1.500 Billion
Blue Bird Corp Henlys Group PLC United Kingdom $0.665 Billion
Motor Coach Industries Intl Consorcio G Grupo Dina'l'ads Mexico $0.335 Billion
Dana Corp-Driveline Business GKN PLC-Driveline Assembly United Kingdom $0.108 Billion
Mack Trucks Inc Renault Vehicules Industriels France $0.104 Billion
Delphi Automotive Sys-Magnaque San Huan Group Inc China $0.070 Billion
General Motors-Assembly Line China-General Engine Factory China $0.017 Billion
Dana Corp-Kirkstall Forging Bharat Forge Ltd India $0.006 Billion
Other

$9.247 Billion
Total

$54.217 Billion





Printing, Publishing, and Allied Services
Former American Corp New Foreign Owner Purchasing Country Amount Paid
Harcourt General Inc Reed Elsevier Group PLC United Kingdom $5.603 Billion
Simon & Schuster-Educ,Prof Pearson PLC United Kingdom $4.600 Billion
West Publishing Co Thomson Corp Canada $3.425 Billion
Macmillan Inc Maxwell Communication Corp United Kingdom $2.522 Billion
Houghton Mifflin Co Vivendi Universal SA France $2.272 Billion
Ziff Davis Media Inc Softbank Corp Japan $2.100 Billion
CBS Records Group(CBS Inc) Sony Corp Japan $2.000 Billion
Random House Inc Bertelsmann AG Germany $1.300 Billion
Doubleday-Publishing&Printing Bertelsmann AG Germany $0.500 Billion
Harper & Row Publishers Inc News America Holdings Inc Australia $0.293 Billion
Addison-Wesley Publishing Co Pearson Inc(Pearson PLC) United Kingdom $0.273 Billion
Other

$31.483 Billion
Total

$56.371 Billion





Mining
Former American Corp New Foreign Owner Purchasing Country Amount Paid
Magma Copper Co BHP Australia $2.432 Billion
NERCO Inc Kennecott Corp(RTZ Corp PLC) United Kingdom $1.162 Billion
Cyprus Amax-US Coal Mining Ops RAG International Mining Gmbh Germany $1.100 Billion
Getchell Gold Corp Placer Dome Inc Canada $1.079 Billion
ASARCO Inc Nueva Grupo Mexico SA de CV Mexico $1.073 Billion
Other

$12.281 Billion
Total

$19.126 Billion





Insurance
Former American Corp New Foreign Owner Purchasing Country Amount Paid
John Hancock Finl Svcs Inc Manulife Financial Corp Canada $11.063 Billion
TransAmerica Corp Aegon NV Netherlands $9.691 Billion
Farmers Group Inc BATUS Inc(BAT Industries PLC) United Kingdom $5.200 Billion
CIGNA Corp-US & International ACE Ltd Bermuda $3.450 Billion
American Bankers Ins Group Inc Fortis AG Belgium $2.630 Billion
Providian Corp-Insurance Aegon NV Netherlands $2.624 Billion
Other

$51.261 Billion
Total

$85.917 Billion









Electronic and Electrical Equipment
Former American Corp New Foreign Owner Purchasing Country Amount Paid
AMP Inc Tyco International Ltd Bermuda $10.736 Billion
DII Group Flextronics International Ltd Singapore $2.591 Billion
Silicon Valley Group Inc ASM Lithography Holding NV Netherlands $1.561 Billion
ChipPAC Inc ST Assembly Test Services Ltd Singapore $1.459 Billion
VLSI Technology Inc Koninklijke Philips Electronic Netherlands $1.163 Billion
GTE Electrical Prods-Sylvania Osram GmbH Germany $1.000 Billion
Artisan Components Inc ARM Holdings PLC United Kingdom $0.933 Billion
Exide Electronics Group Inc BTR PLC United Kingdom $0.583 Billion
Westinghouse Elec-Power Equip Asea Brown Boveri(ABillion Asea) Sweden $0.370 Billion
Zenith Electronics Corp LG Electronics Inc South Korea $0.186 Billion
Natl Semiconductor Corp-Bus VIA Technologies Inc Taiwan $0.167 Billion
Natl Semiconductor-Chip Plant Matsushita Electric Industrial Japan $0.100 Billion
Other

$40.773 Billion
Total

$61.622 Billion





Drugs
Former American Corp New Foreign Owner Purchasing Country Amount Paid
SmithKline Beckman Corp Beecham Group PLC United Kingdom $7.922 Billion
Marion Merrell Dow Inc Hoechst AG Germany $7.265 Billion
Syntex Corp Roche Holding AG Switzerland $5.307 Billion
Rorer Group Inc Rhone-Poulenc SA France $3.476 Billion
SICOR Inc Teva Pharma Inds Ltd Israel $3.401 Billion
Genentech Inc Roche Holding AG Switzerland $1.530 Billion
Chiron Diagnostics Corp Bayer AG Germany $1.100 Billion
Other

$30.301 Billion
Total

$60.302 Billion





Computer and Office Equipment
Former American Corp New Foreign Owner Purchasing Country Amount Paid
IBM Corp-Hard Disk Drive Hitachi Ltd Japan $2.050 Billion
Kingston Technology Corp Softbank Corp Japan $1.071 Billion
Amdahl Corp Fujitsu Ltd Japan $0.925 Billion
Maxtor Corp Hyundai Electn Industries Co South Korea $0.228 Billion
Quantum-Recording-Head Bus Matsushita Kotobuki Electn Ind Japan $0.200 Billion
Proxima Corp ASK AS Norway $0.083 Billion
Other

$28.337 Billion
Total

$32.894 Billion





Machinery
Former American Corp New Foreign Owner Purchasing Country Amount Paid
United States Filter Corp Vivendi SA France $6.318 Billion
Westinghouse-Conven Power Gen Siemens AG Germany $1.525 Billion
Rexnord Corp BTR Dunlop Holdings(BTR PLC) United Kingdom $0.815 Billion
Progressive Tool & Industry Co Fiat SpA Italy $0.630 Billion
Detroit Diesel DaimlerChrysler AG Germany $0.581 Billion
Pinnacle Automation Inc FKI PLC United Kingdom $0.425 Billion
Ingersoll-Rand-Drilling Bus Atlas Copco AB Sweden $0.225 Billion
Other

$13.588 Billion
Total

$24.106 Billion





Metal and Metal Products
Former American Corp New Foreign Owner Purchasing Country Amount Paid
Triangle Industries Inc Pechiney SA France $3.658 Billion
Lucent Tech-Optical Fibre Unit Furukawa Electric Co Ltd Japan $2.127 Billion
Inland Steel Co Ispat International NV Netherlands $1.427 Billion
AlliedSignal Laminate Systems Rutgers AG Germany $0.815 Billion
Cargill Inc-Cert Steel Asts Gerdau Ameristeel US Inc Canada $0.266 Billion
Other

$14.722 Billion
Total

$23.015 Billion









Investment & Commodity Firms,Dealers,Exchanges
Former American Corp New Foreign Owner Purchasing Country Amount Paid
PaineWebber Group Inc UBS AG Switzerland $12.243 Billion
Aetna-Fin'l Svcs & Int'l Bus ING Groep NV Netherlands $4.933 Billion
PIMCO Advisors Holdings LP Allianz AG Germany $1.930 Billion
Scudder Stevens & Clark Inc Zurich Versicherungs GmbH Switzerland $1.667 Billion
AIM Management Group Inc Invesco PLC United Kingdom $1.599 Billion
Dain Rauscher Corp Royal Bank of Canada Canada $1.354 Billion
First Boston Inc Credit Suisse First Boston Switzerland $1.100 Billion
Brinson Partners Inc Schweizerischer Bankverein Switzerland $0.750 Billion
Warburg Pincus Asset Mgmt Credit Suisse Asset Management Switzerland $0.650 Billion
Dillon Read & Co(UBS AG) SBC Warburg(Swiss Bank Corp) Switzerland $0.600 Billion
Other

$39.379 Billion
Total

$66.205 Billion





Commercial Banks, Bank Holding Companies
Former American Corp New Foreign Owner Purchasing Country Amount Paid
Bankers Trust New York Corp Deutsche Bank AG Germany $9.082 Billion
Republic New York Corp,NY,NY HSBC Holdings PLC{HSBC} United Kingdom $7.703 Billion
Banknorth Group Inc,ME Toronto-Dominion Bank Canada $3.813 Billion
Centura Bank Inc,NC Royal Bank of Canada Canada $2.320 Billion
Mellon Fin-Retail Banking Bus Citizens Financial Group,RI United Kingdom $2.100 Billion
Other

$18.572 Billion
Total

$43.590 Billion





Motion Picture Production and Distribution
Former American Corp New Foreign Owner Purchasing Country Amount Paid
MCA Inc Matsushita Electric Industrial Japan $7.406 Billion
Columbia Pictures Entmnt Sony USA Inc(Sony Corp) Japan $4.792 Billion
MGM/UA Communications Co Pathe Communications Corp Luxembourg $1.709 Billion
All American Communications Pearson PLC United Kingdom $0.500 Billion
RCA Columbia Home Video Columbia Pictures Entmnt Japan $0.350 Billion
Other

$3.546 Billion
Total

$18.303 Billion





Chemicals and Allied Products
Former American Corp New Foreign Owner Purchasing Country Amount Paid
Nalco Chemical Co Suez Lyonnaise des Eaux SA France $4.063 Billion
American Cyanamid Agri Product BASF AG Germany $3.900 Billion
Quantum Chemical Corp Hanson PLC United Kingdom $3.220 Billion
Loctite Corp Henkel KGaA Germany $1.289 Billion
Merck-Crop Protection Business Novartis AG Switzerland $0.910 Billion
Other

$37.249 Bil.
Total

$50.630 Billion





Rubber and Miscellaneous Plastic Products
Former American Corp New Foreign Owner Purchasing Country Amount Paid
Firestone Tire & Rubber Co Bridgestone Corp Japan $2.533 Billion
Uniroyal Goodrich Tire Co Michelin SA France $1.500 Billion
Gates Corp Tomkins PLC United Kingdom $1.400 Billion
Johnson Controls-Plastic Div Schmalbach-Lubeca AG(Viag AG) Germany $0.650 Billion
General Tire Inc(GenCorp) Continental AG Germany $0.625 Billion
Other

$9.716 Billion
Total

$16.424 Billion





Food and Kindred Products
Former American Corp New Foreign Owner Purchasing Country Amount Paid
Bestfoods Unilever PLC United Kingdom $25.065 Bil.
Ralston Purina Co Nestle SA Switzerland $10.479 Bil.
Miller Brewing(Philip Morris) South African Breweries PLC United Kingdom $5.574 Billion
Pfizer Inc-Adams Cadbury Schweppes PLC United Kingdom $4.200 Billion
Gerber Products Co Sandoz AG Switzerland $3.686 Billion
Dr Pepper/Seven-Up Cos Inc Cadbury Schweppes PLC United Kingdom $2.367 Billion
Slim-Fast Foods Co Unilever NV Netherlands $2.300 Billion
Snapple Beverage Group Inc Cadbury Schweppes PLC United Kingdom $1.450 Billion
Beringer Wine Estates Holdings Fosters Brewing Group Ltd Australia $1.447 Billion
Tropicana Products Inc Joseph E Seagram & Sons Inc Canada $1.200 Billion
Other

$26.150 Billion
Total

$83.917 Billion





Credit Institutions
Former American Corp New Foreign Owner Purchasing Country Amount Paid
Household International Inc HSBC Holdings PLC{HSBC} United Kingdom $15.294 Billion
CIT Group Inc Tyco International Ltd Bermuda $9.341 Billion
AT&T Capital Corp(AT&T Corp) Investor Group United Kingdom $2.129 Billion
Genstar Corp Imasco Enterprises(Imasco) Canada $1.842 Billion
Peoples Bank-Credit Card Bus Royal Bank of Scotland Group United Kingdom $0.518 Billion
HealthCare Financial Partners Heller Financial Inc Japan $0.485 Billion
Other

$2.584 Billion
Total

$32.193 Billion





Electric, Gas, and Water Distribution
Former American Corp New Foreign Owner Purchasing Country Amount Paid
PacifiCorp Scottish Power PLC United Kingdom $12.600 Billion
Niagara Mohawk Holdings Inc National Grid Group PLC United Kingdom $8.048 Billion
American Water Works Co Inc RWE AG Germany $7.726 Billion
LG&E Energy Corp PowerGen PLC United Kingdom $5.426 Billion
New England Electric System National Grid Group PLC United Kingdom $4.217 Billion
Tejas Gas Corp Shell Oil Co Netherlands $2.166 Billion
United Water Resources Inc Suez Lyonnaise des Eaux SA France $1.845 Billion
Gas Transmission NW Corp TransCanada Corp Canada $1.703 Billion
Other

$11.892 Billion
Total

$55.622 Billion





Business Services
Former American Corp New Foreign Owner Purchasing Country Amount Paid
Ernst & Young-Consulting Bus Cap Gemini SA France $11.774 Billion
LHS Group Inc Sema Group PLC United Kingdom $4.338 Billion
Nielsen Media Research Inc VNU NV Netherlands $2.788 Billion
ACNielsen Corp VNU NV Netherlands $2.341 Billion
Sensormatic Electronics Corp Tyco International Ltd Bermuda $2.203 Billion
Shared Medical Systems Corp Siemens Corp Germany $2.058 Billion
Safety-Kleen Corp Laidlaw Environmental Services Canada $1.804 Billion
Combustion Engineering Inc Asea Brown Boveri(ABillion Asea) Sweden $1.795 Billion
MCI Communications Corp-Whl Cable & Wireless PLC United Kingdom $1.750 Billion
Experian Corp Great Universal Stores PLC United Kingdom $1.700 Billion
Manpower Inc Blue Arrow PLC United Kingdom $1.328 Billion
Primark Corp Thomson Corp Canada $1.081 Billion
Island ECN Inc Instinet Corp(Reuters Group) United Kingdom $0.543 Billion
Zenith Computer Group(Zenith) Cie des Machines Bull France $0.496 Billion
Knight-Ridder Information Inc MAID PLC United Kingdom $0.420 Billion
Pinkerton's Inc Securitas AB Sweden $0.383 Billion
Other

$72.510 Billion
Total

$109.312 Billion



Articles:
Reflections On General Electric's Global Strategy
America Now Extremely Vulnerable
Will the US Need an IMF Bail Out?
China Leads U.S. in High-Tech Goods
Who Killed General Motors?
Are We Blind?
Bad for the Country
Bite the Bullet on Free Trade?
Selling Out
American Dominated - and Now Dependent
Specialty Metals Industry is On Offense on Defense
Can Globalization Fail? Lessons from History
Bush and Congress Ignore Security Warnings
How Can America Restore Its Industrial Self-sufficiency?
Saving this Presidency. . .Why Bother?
Buying CAFTA
Manufacturing Matters More Than Ever
Does Engineering Matter and is Free Trade Really Free?
Aren't We Fooling Ourselves?
Response to Letter Signed by CEOs of Worlds Leading Corps.
The Collapse of Globalism
  Copyright 2006 | jack@jackdavis.org