Haier raises bid to US2.25b for Maytag

China View (Xinhua) ^ | June 27, 2005

[monkeyshine]

What, you mean someone else in America can't come out and make washing machines?

[Caipirabob]

Know what's more interesting? Despite huge cash reserves in dollars, the Chinese haven't bought much (if any) real estate...

Very interesting. They're either waiting for "the bubble to burst" or the "fallout to disperse".

[durasell]

Exactly as opposed to the Japanese. And yes, companies are bought and sold all the time. Burger King is British, but it's owned by a British company and not the British government. Think what you want and try to decipher their motives. But rest assured the Chinese are not playing around.

[durasell]

What, you mean someone else in America can't come out and make washing machines?



Funny you should mention that. Just yesterday I was thinking that maybe I could cobble together a washing machine. I figure all I'd need is a drawer full of patents, international distribution and supply chains, a trained workforce, couple of factories filled with equipment, a few hundred million line of credit, name brand recognition (international, of course) and some skilled management who knew the industry inside and out.

[snowsislander]

a few hundred million line of credit

Why not try to raise equity money instead? You might do as well as "pets.com". ;-)

[durasell]

I suppose my point was that these guys aren't just buying a warehouse filled with washing machines. They're buying a complex machine that makes the machines that can't be replaced quickly or easily. It's a machine that took decades to assemble. Conversely, with IBM they bought a set of schematics.

[tm22721]

It's baaaaack !

That is, the inflation we are exporting through cheap foreign competition and the dollars we are exporting to buy cheap foreign goods.

In fact, they will be coming back to haunt us for years to come.

What goes around, comes around.

BUMP

[RichardW]

Take the money and run. Maytag has been going in the toilet for years.

[kaktuskid]

As opposed to the Japanese, who own 1/2 of Arizona

What part???AZ is over 80% gov't owned!

[The Red Zone]

New brand will be "Chinese Raundry"

[Eva]

According the WSJ, last Friday, the reason the Chinese want Maytage is because they can't compete on quality and are anxious to improve their reputation in that area.

[injin]

I mean 'everything is 'For Sale' here and it's not right...
Not only companies like this but real estate. Where I live land prices are through the roof , and often it is rich foreigners buying it up at prices that put it way out of reach or possibility for we locals . Ever try going to another country and buy land? Most countries , many at least , have laws against 'foreigners' buying or owning land in their country. PRC I bet has such laws. But over here it's 'come one come all , it's ALL for sale. We Americans will live to regret this ! Mark my words ...and sooner than we think. It's time to pull in and close a few doors to the world , and not be like a giant Walmart where every fricken thing is for sale , cheap.....