The Selling of the American Economy How Foreign Companies Are Remaking the American Dream (Audible Audio Edition) Micheline Maynard Marguerite Gavin LLC Gildan Media Books
Download As PDF : The Selling of the American Economy How Foreign Companies Are Remaking the American Dream (Audible Audio Edition) Micheline Maynard Marguerite Gavin LLC Gildan Media Books
Today, many Americans regard globalization as a significant threat to our work force, and to our very way of life. As unemployment soars, the automotive and manufacturing industries crumble, countless jobs continue to ship overseas, and the retail sector faces the worst slump in decades, cries of "Buy American" have grown louder and louder. But at a time when an Italian company has bailed out one of our most iconic automakers; a French-German consortium is closing in on a multibillion dollar military contract; companies based around the world are stocking our grocery aisles; and the assets of some of our most venerable financial institutions have been stripped down and bought up by banks from Hong Kong and London, what does "Buy American" mean any more?
Is the influence that foreign companies are exerting on our economy making us more competitive in the global marketplace, or less? Creating jobs for Americans, or importing their own workforces? A threat to our national security, or are they bringing us technology that makes us safer? When they open factories here, are they siphoning money from our economy, or bolstering it? Are we selling our economy to the highest bidder?
Micheline Maynard, New York Times senior business correspondent, argues that foreign investments are actually an overwhelmingly positive force, creating thousands of jobs, pumping billions of dollars into national and local economies, reinvigorating communities, fostering innovation and diversity in the marketplace, and teaching Americans new ways to live and work. In this compelling narrative, Maynard paints a fascinating portrait of the paradigm shift that is transforming the American economy - and remaking the American dream.
The Selling of the American Economy How Foreign Companies Are Remaking the American Dream (Audible Audio Edition) Micheline Maynard Marguerite Gavin LLC Gildan Media Books
My purpose was to gauge how Japanese management ran their American enterprises. So, I was interested in the author's comments regarding Toyota. I would say that she confirmed that the American workplace at Toyota's American assembly plants is collegial and generally cooperative between management and the rank-and-file. This is good. In contrast, the Big 3 is beset with terrible labor relations, but one should never just limit this style to GM, Ford or Chrysler.Work in America is "employment at will." When your boss objects to your suggestions (and if you persist), then he can get rid of you. In my work life, working for a major bank in San Francisco, one would be highly impressed with its Human Resources policies, but the practice is to ferret out "team members" who have a different perspective on how best to accomplish work goals. And then make it disciplinary. So much of the workplace is dominated by martinets and bosses, not leaders (despite their MBAs). Thus, in this book, you can sense its anti-union pitch. Yet, in our current political discussion of right-to-work, the conservatives often overlook what collective bargaining has achieved. Think about the 40 hour work week, paid overtime, healthcare plans, pensions, educational benefits and training, grievance procedures, etc. The point is that unions have essentially been successful.
What is overlooked in the book is what happens when everything goes south. That is, a decent foreign employer turns over its operations to an tyrannical American manager who is tasked with achieving significant cost savings. Suddenly, the Toyota American employee no longer enjoys 3 or 4 weeks of paid vacation; it is reduced to the basic two weeks. He may be told that his pay raise is limited to zero or 1% but then he notices that the boss' favorite or pet "star performers" get really great raises. This kind of crap happens all the time in American offices and factories. Thus, there is a reluctance for the Deep South employees to join because currently they are shown the proper respect. The other side of the equation not discussed is how American unionists support their craft with apprentice programs and standards. How would conservatives react to their employers reducing the pay and benefits. Many employees experienced this in the Great Recession.
Who would you rather have work on your home for a major repair - the knowledgible and competent Mike Holmes team (HGTV "Holmes Inspection) or the people who caused the problems? This same scenario plays out with the tanker aircraft battle between EADS and Boeing. The Grumman Northrop partnership was backed by Sen McCain to do union busting. Boeing's move to build a new 787 factory in South Carolina follows suit. It might be that the A330 is a better aircraft because it was designed much later than the 767. However, how can the United States continue to add to its trade imbalance by supporting foreign defense contractors. I don't think we have a problem with buying Rolls Royce engines or BEA Systems because the UK buys our stuff. And, we can certainly should understand why the Germans are NOT participating in the F-35 Raptor program; they lost nearly 200 pilots in accidents with the F-104 Starfighter. The Eurofighter Typhoon makes more sense for Germany. She did not cite "Aviation Week" on Boeing's radical new thinking on the tanker, but seems to think that EADS proposal was just dandy and meritorious.
I was interested in the author's take on the NUMMI plant in Fremont. She really ignored it but Toyota has never explained successfully why they abandoned the plant. Well, it's simple. Despite being a 30 year old facility requiring little new investments other than the new robots, they didn't want to deal with unions. Toyota studied the American landscape and decided it was a wonderful inducement to locate in right-to-work states in the "Race to the Bottom." Now, why should a Californian have to pay extra taxes because of the giveways made by Alabama and Kentucky. The governments subsidized Toyota and others with property tax concessions, lower payroll deductions, land grants and infrastructure improvements (eg freeway ramps), etc. and gave them automatic influence in American politics. The people in Fremont were happy with Toyota and appreciated their high salaries, but are generally disgusted with their dismissal for new plants in the South. I can imagine why workers in Flint MI wonder why GM closes factories and then builds Buicks in CHina. At least,the Japanese get it right; build certain lines in Japan (eg Scion) and ship them to the US.
The real deficiency in this book is the total exclusion of discussing transborder pricing and taxes. How does Toyota manipulate their tax bill? I think it is significant how much they do not pay the American authorities despite their substantial investment in American operations. From what I have seen, they may be freeriders and should not automatically be accorded with the notion that they are "American". They are businesses and seized on the concept of building their plants in cheap cost-of-living areas. And then they can charge the Big 3 prices for their cars and make more profit.
One final note. I don't like American cars but, unlike the bailout debate, hardly anyone ever complimented GM, Ford or Chrysler for their yeoman service to the United States. These were car companies that ratched up production of tanks and aircraft during WW2 and they paid their fair share of corporate income taxes in our post-WW2 period.
This is book is essentially incomplete. I could pick apart almost every chapter because of its globalization and anti-union bias. Again, the reader should be aware that I have opposed union actions in certain cases, such as Eastern Airlines machinists. You can't demand economic gains when the other side is broke.
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The Selling of the American Economy How Foreign Companies Are Remaking the American Dream (Audible Audio Edition) Micheline Maynard Marguerite Gavin LLC Gildan Media Books Reviews
IF YOU WANT TO READ THE TRUTH, THIS IS A GOOD BOOK TO READ.
Foreign investment is everywhere in the American economy but nobody has told the story of the people involved until now. This book is sure to touch a nerve, but America has to be part of the global economy, and Maynard explains the reasons why. Read it with an open mind.
It's a pretty good book so far. I haven't gotten too deep into it yet.
It was just whatI was looking for at the time.Something to read about the economy.
In this rare and insightful look at the other side of globalization, Micheline Maynard shows how foreign companies such as Toyota have opened their plants in the US, provided attractive jobs and enriched communities. This is a beautifully written, concise and well-researched argument against knee-jerk protectionism and a long awaited recognition of the value added by international companies operating in the US. A vital addition to the bookshelf on globalization,you really can't say that you understand the full dimensions of globalization until you've read Maynard's book.
This is a well written unbiased approach to Multi-national corporate interests and holdings within the United States. It is a book that is quite relevant to how the world and U.S. economies are doing and where they are heading at the current time... If there are any flaws within the words of this text is that I wish the book could have been at least 50 more pages and included some insight or a compare/contrasts to how some U.S. multi-national corporations are doing in those very same nations that have their multi-national corporations within U.S. borders
My purpose was to gauge how Japanese management ran their American enterprises. So, I was interested in the author's comments regarding Toyota. I would say that she confirmed that the American workplace at Toyota's American assembly plants is collegial and generally cooperative between management and the rank-and-file. This is good. In contrast, the Big 3 is beset with terrible labor relations, but one should never just limit this style to GM, Ford or Chrysler.
Work in America is "employment at will." When your boss objects to your suggestions (and if you persist), then he can get rid of you. In my work life, working for a major bank in San Francisco, one would be highly impressed with its Human Resources policies, but the practice is to ferret out "team members" who have a different perspective on how best to accomplish work goals. And then make it disciplinary. So much of the workplace is dominated by martinets and bosses, not leaders (despite their MBAs). Thus, in this book, you can sense its anti-union pitch. Yet, in our current political discussion of right-to-work, the conservatives often overlook what collective bargaining has achieved. Think about the 40 hour work week, paid overtime, healthcare plans, pensions, educational benefits and training, grievance procedures, etc. The point is that unions have essentially been successful.
What is overlooked in the book is what happens when everything goes south. That is, a decent foreign employer turns over its operations to an tyrannical American manager who is tasked with achieving significant cost savings. Suddenly, the Toyota American employee no longer enjoys 3 or 4 weeks of paid vacation; it is reduced to the basic two weeks. He may be told that his pay raise is limited to zero or 1% but then he notices that the boss' favorite or pet "star performers" get really great raises. This kind of crap happens all the time in American offices and factories. Thus, there is a reluctance for the Deep South employees to join because currently they are shown the proper respect. The other side of the equation not discussed is how American unionists support their craft with apprentice programs and standards. How would conservatives react to their employers reducing the pay and benefits. Many employees experienced this in the Great Recession.
Who would you rather have work on your home for a major repair - the knowledgible and competent Mike Holmes team (HGTV "Holmes Inspection) or the people who caused the problems? This same scenario plays out with the tanker aircraft battle between EADS and Boeing. The Grumman Northrop partnership was backed by Sen McCain to do union busting. Boeing's move to build a new 787 factory in South Carolina follows suit. It might be that the A330 is a better aircraft because it was designed much later than the 767. However, how can the United States continue to add to its trade imbalance by supporting foreign defense contractors. I don't think we have a problem with buying Rolls Royce engines or BEA Systems because the UK buys our stuff. And, we can certainly should understand why the Germans are NOT participating in the F-35 Raptor program; they lost nearly 200 pilots in accidents with the F-104 Starfighter. The Eurofighter Typhoon makes more sense for Germany. She did not cite "Aviation Week" on Boeing's radical new thinking on the tanker, but seems to think that EADS proposal was just dandy and meritorious.
I was interested in the author's take on the NUMMI plant in Fremont. She really ignored it but Toyota has never explained successfully why they abandoned the plant. Well, it's simple. Despite being a 30 year old facility requiring little new investments other than the new robots, they didn't want to deal with unions. Toyota studied the American landscape and decided it was a wonderful inducement to locate in right-to-work states in the "Race to the Bottom." Now, why should a Californian have to pay extra taxes because of the giveways made by Alabama and Kentucky. The governments subsidized Toyota and others with property tax concessions, lower payroll deductions, land grants and infrastructure improvements (eg freeway ramps), etc. and gave them automatic influence in American politics. The people in Fremont were happy with Toyota and appreciated their high salaries, but are generally disgusted with their dismissal for new plants in the South. I can imagine why workers in Flint MI wonder why GM closes factories and then builds Buicks in CHina. At least,the Japanese get it right; build certain lines in Japan (eg Scion) and ship them to the US.
The real deficiency in this book is the total exclusion of discussing transborder pricing and taxes. How does Toyota manipulate their tax bill? I think it is significant how much they do not pay the American authorities despite their substantial investment in American operations. From what I have seen, they may be freeriders and should not automatically be accorded with the notion that they are "American". They are businesses and seized on the concept of building their plants in cheap cost-of-living areas. And then they can charge the Big 3 prices for their cars and make more profit.
One final note. I don't like American cars but, unlike the bailout debate, hardly anyone ever complimented GM, Ford or Chrysler for their yeoman service to the United States. These were car companies that ratched up production of tanks and aircraft during WW2 and they paid their fair share of corporate income taxes in our post-WW2 period.
This is book is essentially incomplete. I could pick apart almost every chapter because of its globalization and anti-union bias. Again, the reader should be aware that I have opposed union actions in certain cases, such as Eastern Airlines machinists. You can't demand economic gains when the other side is broke.
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