Posted on 10/19/2016 8:27:01 AM PDT by Lorianne
In response to the “destabilization of the world.”
About 20 German industry chieftains, rattled by the hits German companies have recently taken, including Deutsche Bank and Volkswagen, spent Saturday and Sunday two weeks ago on the phone with each other. They were fretting about the future of Germany’s export-dependent industry and outlining solutions. Some of the participants have since talked to the German daily, Die Welt, which published its report on Sunday.
Participants included Siemens CEO Joe Kaeser, BASF CEO Kurt Bock, Deutsche Bank CEO John Cryan, BDI (Association of German Industry) president Ulrich Grillo, and BDI General Manager Markus Kerber.
How to protect key industries in Germany is also topic of a paper being worked on by the Economy Minister Sigmar Gabriel and his folks, the Welt reported. They’re searching for “protective walls,” and are working on a “list of options for actions to protect key German industries.” Finance Minister Wolfgang Schäuble and State Secretary at the Finance Ministry Thomas Steffen are in on it.
For months, top executives and politicians have been discussing the impact of foreign governments on the “pillars of the German economy.” The recent “re-nationalization” of economic policies in many countries, in parallel with the “destabilization of the world,” scares these managers.
“We are in a new phase in global politics, in which many countries are reverting to their national interests, where globalization is being turned back,” Kerber explained. Other executives have used similar words in their confidential conversations.
Everyone is looking for answers. Nothing has been decided. Solutions are being worked on “behind the scenes.” And it shows, the Welt said, that “protectionism is suddenly no longer a dirty word” in business and politics.
These four events shook up German industry leaders: 1.Deutsche Bank’s potential fine of $14 billion that the US Justice Department has proposed to settle allegations concerning mortgaged backed securities sold before the Financial Crisis by its US unit. The largest US banks have already settled, and Deutsche Bank’s fine won’t be the largest one. 2.Volkswagen’s nightmarish legal situation in the US, and to a lesser extent in other countries, after having gotten caught in a monster fraud case that has become known as dieselgate. 3.The acquisition of German robotics darling Kuka by the Chinese firm Midea. 4.The proposed acquisition of lighting specialist Osram by Chinese firm San’an Optoelectronics.
In the first two instances, the tycoons fear foreign governments’ reach into their home base, and suddenly they feel vulnerable, after their enterprises had committed those acts of deception and fraud for years overseas. They want to defend their enterprises and the economy against this.
And in the instances of acquisitions, the tycoons want reciprocity.
SNIP
And a fifth one they could add - though slightly dated is Siemens getting caught in multiple bribing scenarios.
Maybe they should spend a little time worrying about their country being invaded and taken over by 7th century throwbacks from the middle east as well.
” And it shows, the Welt said, that “protectionism is suddenly no longer a dirty word” in business and politics. “
It never WAS a dirty word as far as thinking people are concerned .
.
“They were fretting about the future of Germany’s export-dependent industry and outlining solutions”
Ha, those stupid blockhead krauts. THAT is their problem. They should send all their factories to Asia and Mexico. Only a moron has factories at home and exports products. They should talk to our republicans and learn how to drive every job out of the country, while simultaneously enriching themselves!
s/
protective wall
hahahahaha
hey fritzie
check out how many bimmers audies and benz’s are bought int he USSA
cheack out the precent of total global sales
now check how many krauts are employed in the auto industry
now build your wall and keep your friggin overpriced jalopies inside it
the german auto industry has created the illusion of a “quality” german product
this is one of the greatest pr campaigns / psyops ever perpetrated
MB used Studebaker to test and repair each and every car when they first sold in the USSA... creating the quality image and added the cost to every unit...
MB buried transmisison problems by just replacing defective units and shipped them by the containerloads back to the fatherland secretly without informing owners
the German lux auto is a great myth for people who have more money than sense... and buy prestige wheels for their egos.......
and check out the percentage of muzies in your beloved fahterland....
cheap labor eventually has a real cost usually high multiples of the alleged savings... of course the savings are for the corporations and the cost is for the taxpayer.... a double screwing
German luxury cars are fantastic in some ways. They are meant to be driven fast, on spectacular roads, and to be meticulously maintained according to schedule with factory parts.
They are not reliable like Japan’s products, and do not exceed Japanese fit and finish.
I tried to avoid posting on this thread, but I have to now...
We have an Infiniti sedan. Won’t buy another Beemer or Mercedes again.
Problems and maintenance are far less, and we paid $3k less than the E350 or the 5 series.
Just my humble opinion.
5.56mm
Infinity is amazing. Don’t know why they do it so much better, but they do.
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