Posted on 08/25/2012 2:09:15 PM PDT by JerseyanExile
Located at the northern tip of Mitkof Island, where the icy waters of the Frederick Sound meet the Wrangell Narrows, the Alaskan city of Petersburg is about as remote as they come.
However even this wilderness with its wolves, black bear, moose and humpback whales, is within range of an expansion of Mexican-owned business that is reaching the furthest corners of the US. At the supermarket in Petersburg you can pick up a telephone from TracFone, a virtual mobile operator controlled by billionaire Carlos Slim.
Over the past five years or so, Mexican companies have poured billions of dollars into the US as they ramp up the purchase of assets that range from banks to broadcasting companies and building-material suppliers. The push, which has gone largely unnoticed, has extended the reach of Mexican businesses that once looked exclusively to domestic customers.
The result is startling. Cemex, the Mexican cement and building materials manufacturer, is now the largest producer in its segment in the US – commanding 10.5 per cent of a highly fragmented market.
In 2010, Grupo Bimbo, the Mexican baker, announced the purchase of Sara Lee, the US baker, in a deal initially estimated at US$959m. The acquisition, which received approval from the US Department of Justice late last year on condition of some divestitures, consolidated Bimbo as America’s biggest breadmaker.
Even Alfa, the Mexican conglomerate with interests stretching from petrochemicals to food processing, has started to drill for natural gas – not in Mexico, where the country’s constitution restricts private investment, but in Texas in a partnership with Pioneer Natural Resources and Reliance.
(Excerpt) Read more at ft.com ...
If the Mexicans are so rich, why do we have to take their people?
Some of the mexicans are rich, most not.
They have been buying US mining and cement companies for more than 10 years. For the most part they run them well.
Besides they can not take them back with them, their investments stay here because the plants and raw materials are here.
Typical ADO bus.
Basic ADO bus interior
Typical ADO Bus station
US$24 for the 6 hour ride from Cancun to the Belize border. Restroom on the bus is larger than and as clean as or better than the ones on the airplane we flew down in.
Sounds like the profits Mexican nationals repatriate to Mexico do not exceed the +-20 billion worth of remittances that are sent to Mexico by their nationals.
Apples and oranges. Mex. company’s like Cemex profits are from their legit business, not taken from the nationals who receive money sent from family in USA.
True, they are apples and oranges but both result in capital (in profits and wages)going south of the border. When you add in that huge percentages of Mexicans work off the books—meaning they pay no taxes just like in Mexico—plus they are heavy users of government services—its easy to see why they play a big part (but by no means the only part) in the bankrupsy of california.
I think you have veered off subject of Mexican companies investing here. Need to not be like the other side that uses every opportunity to give talking points regardless of the subject or question.
But you are also right.
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