Posted on 02/23/2006 2:21:57 PM PST by new yorker 77
LONDON (AP) - Japan's Toshiba Corp. is buying nuclear plant builder Westinghouse Electric Co., the U.S.-based unit of the British government's British Nuclear Fuels PLC, for $5.4 billion US.
Toshiba said it will acquire 100 per cent of Westinghouse but it expects to have several minority investors who want to become involved.
"With Westinghouse, Toshiba will be a global nuclear power business organization committed to delivering world-class nuclear power generation systems and services, backed up by proven technology, reliability and superb efficiency," Atsutoshi Nishida, president and CEO of Toshiba, said in a statement.
The high-profile battle for control of Westinghouse underscores a view among global firms that energy is an industry that could grow in importance as the world confronts limited resources of oil and other fossil fuels.
Mike Parker, chief executive of BNFL, said the agreement will give Westinghouse new export opportunities that will enable it to compete more effectively for new U.S. customers.
Copyright © 2006 Canadian Press
Which scares you more?
Toshiba gaining control of Westinghouse or DPW gaining control of 6 U.S. Port Terminals.
Which foreigners actually already have the nukes?
Take the fake uninformed outrage from the Dubai deal and shift it to a real concern regarding U.S. Nuclear Power.
OMG! The Nips are gonna get even? /sarc off
Great, the sellers of ultra-advanced submarine propellers to the Evil Empire in the 1980's is now going to have access to nuke technology and materials. Just makes me feel so relaxed, so safe and secure....
Actually, this reinforces my desire to buy NOTHING with the name "Toshiba" attached to it.
Remember when Americans used to own American firms?
I'm not sure it's fake, so I'd rephrase your comment to read, "Take the uninformed outrage from the Dubai deal and shift it to an uninformed concern regarding U.S. Nuclear Power." That's the TRUE FR spirit! ;-)
Make a profit, keep your building.
Balance of payments mean something. If you spend dollars to overbuy things from foreign countrys.. Can't you expect them to redeem the dollars? Expecting them NOT to buy up the US assets.. must be a definition of pure Lunacy..
Remember, Toshiba America was penalized from competing on government contracts at one time...in response to Toshiba selling U.S. technological secrets to on quiet submarine blades.
You can talk about how its OK as a percent of the GDP (blah, blah, blah) but we are selling our assets to finance our overseas spending.
"Take the fake uninformed outrage from the Dubai deal and shift it to a real concern regarding U.S. Nuclear Power."
Nice try....
The APWR and PWR designs, which are Westinghouse's stock-in-trade, are a favorite of US DoD and other Gov't officials due to their long history and good safety record. It is therefore quite conceivable that Westinghouse would have a leg up on any new construction.
Sore losers.
Man, I'm glad I'm not the only one who remembers that. It was an incredibly damaging strike to our submarine force.
"Actually, this reinforces my desire to buy NOTHING with the name "Toshiba" attached to it."
You and me both. Toshiba = French in my mind.
Man, I'm glad I'm not the only one who remembers that. It was an incredibly damaging strike to our submarine force.
"Actually, this reinforces my desire to buy NOTHING with the name "Toshiba" attached to it."
You and me both. Toshiba = French in my mind.
I'm also glad to know that there's someone else that remembers that. Virtually every time I tell someone (other than my wife and parents, who know me and the story by now) why I refuse to by Toshiba, I just get this blank stare (though far less among long-time Cold Warriors like myself). The young folks (under about 30) haven't a clue, mainly becaue the pubik screwl system and the lamestream media like to ignore the Evil Empire and the Cold War in general, unless it is to bash McCarthy and Nixon (and, thereby, present-day Republicans).
The top Forune 100 corporations have been selling off the US small-to midsize technology and manufacturing companies for 15+ years (since the late 1980's), in exchange for short term gains. There is a reason why long-range thinkers from Japan and China are willing to buy them out.
Guys like Phil Condit of Boeing no longer consider themselves to be American. They claim to be a global corporation, not an American corporation.
These corporations are mopre powerful than our government and do not respect the nation, or the necessity of a nation.
Their destruction of US nationality must be stopped. We are losing, not gaining, our global trade profits by selling ourselves off.
"Experience has taught me that manufactures are now as necessary to our independence as to our comfort; and if... [we will purchase] nothing foreign where an equivalent of domestic fabric can be obtained without regard to a difference of price, it will not be our fault if we do not soon have a supply at home equal to our demand, and wrest that weapon of distress from the hand which has wielded it." --Thomas Jefferson to Benjamin Austin, 1816. ME 14:392
"The prohibiting duties we lay on all articles of foreign manufacture which prudence requires us to establish at home, with the patriotic determination of every good citizen to use no foreign article which can be made within ourselves without regard to difference of price, secures us against a relapse into foreign dependency." --Thomas Jefferson to Jean Baptiste Say, 1815.
"I have come to a resolution myself as I hope every good citizen will, never again to purchase any article of foreign manufacture which can be had of American make, be the difference of price what it may." --Thomas Jefferson to B. S. Barton, 1815. ME 19:223
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