Tata Motor's Nano - the world's cheapest car
Posted on 06/12/2013 4:27:51 PM PDT by jjotto
Cooper tires is becoming another victim of President Obama’s much too cozy relationship with the union machine. Cooper Tires was bought by an Indian company.
After President Obama sent a thank you to the Steelworkers Union and slapped an absolutely brain-dead punitive tariff of tires coming from China, a few things happened:
Imports of low-cost tires did not stop. They came from other countries, at tariffs even lower than the old ones on Chinese tires. Not a single new job was created in America, but more than a few jobs at tire importers were destroyed. Americans paid more for tires. A trade war erupted. Retaliatory tariffs did hurt exports of big displacement cars made by Chrysler, Ford and General Motors. American companies that had tire production in China were hurt, most of all Cooper tires.
Today, “Indian tire manufacturer Apollo Tyres Ltd said it would buy Cooper Tire & Rubber Co for about $2.5 billion,” Reuters writes.
Currently, Apollo does not operate in the United States. “The acquisition of Cooper, the world’s 11th biggest tire company by sales, will give Apollo access to the U.S. market for replacement tires for cars and light and medium trucks,” Reuters writes.
Cheap Chinese tires are being replaced by cheap Indian tires. And another American company is being outsourced.
Ping
Is Cooper Tires going to pitching for the Indians? Minor leagues?
Automobile and light truck tire prices are up bigtime since the tariffs were started.
Tire size I bought for $100 two years ago are $140 now.
(probably not in the fedgov “cost of living” calculations, LOL)
And the union workers at Cooper are going to wake up one morning in the not too distant future and say “WTF? How did this happen?”
Tata Motor's Nano - the world's cheapest car
Guess they've progressed from firewater....oh wait, THOSE Indians.
Our fearless leader at his best!
Just as the unionized workers did at Eastern Airlines, the Los Angeles Herald Examiner and Hostess did after their intransigent unions drove their employers over the cliff.
They were locked out for 13 weeks last year so they have some experience of what is to come.
__________ GO TEAM! __________
None of this affects 0bumma’s core constituency, nor does it affect the core constituency of the overwhelming majority of the demonRAT party.
The tiny few demonRATs who will even hear about the destruction of our economy will say, “So what?”
How much in dollars?
Agreed.
More laid off moochers = more Democrats.
Tata Motors subsidiary is already working in Detroit - actually Farmington Hills, MI - Tata Engineering and Consulting - the consultants work with Ford, Chrysler and GM regarding automobiles. I know this for sure as I have passed by the building numerous times when I travel for medical appointments in Farmington Hills, now the physician is relocating to Novi, so the next time I will not be traveling that far into Detroit Metropolitan Area.
Here are the addresses for Tata Technologies
33533 West 12 Mile Rd Ste 131
Farmington Hills, MI 48331-5634
IT Services and Consultants
41050 W 11 Mile Rd
Novi, MI 48375
Professional Services
Tata technologies casts a wide global footprint, enabling us to help ambitious automotive, aerospace and industrial and consumer manufacturers around the world make better products for their customers.
Just thought you would like to know.
Bloomberg has more information regarding the purchase.
India’s Apollo Tyres to Buy Cooper Tire for 2.5 Billion.
The banks that will loan money for the purchase for Apollo Tyres are:
Standard Chartered Plc.
Morgan Stanley
Deutsche Bank AG
Goldman Sachs Group Inc
Since there has always been tariffs on our cars exported to China how is that possible? They tariff everything we export to them.
I always liked Cooper Cobra tires. I remember working for Firestone in the 90s when I found out they were owned by the Japanese.
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