America For Sale?
Is the USA slowly on its way to becoming the United States of Arabia?
The weak U.S. dollar and sluggish stock market has made a number of American companies appealing to foreigners. In the span of ten short days, three of America's biggest companies became foreign-owned. On July 13, Belgian brewer InBev's purchased Anheuser-Busch (BUD) for $52 billion. On July 21, the Swiss company Roche Holdings purchased the California-based Genetech (DNA) for $43.7 billion. Two days later, Japan's Tokio Marine Holdings announced it would buy the Philadelphia Consolidated Holding (PHLY) company for $4.39 billion.
But the most visual representation of America's biggest blow out sale ever is the Chrysler Building, which was sold to the government of Dubai for $800 million. With oil revenues sky high, Middle East investors have the funds to buy huge swaths of American real estate. This year, investors from the Middle East have spent nearly $1.8 billion on commercial property in the U.S., according to Real Capital Analytics Inc..
With no sign of these trends letting up, Americans are starting to wonder what's next.
Join Hoofy and Boo as they ask the question: Is the USA slowly on its way to becoming the United States of Arabia?
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