German Giant Taking Over American Water Supply (French Co., Too)

The Associated Press ^ | Feb 7, 2003 | Michael Liedtke

[txhurl]

Supporters of the takeover say RWE's financial clout and expertise will help pay for much-needed improvements in local water systems and provide better protections against possible terrorist attacks on water supplies.

Say what?

[sheik yerbouty]

Nationalize their assets! We don't need jihadist sympathizers in charge of the basics of life.

[Eric in the Ozarks]

The fact is, German companies own 90 percent of America's coal in the ground. English and Mexican companies own much of our basic industries (clay mining and cement). French own a sizable stake in cement and lime, too...

[rimmont]

I'd rather have the Germans in charge of my water than the French. The Wine is good but the water is bad.

[txhurl]

You think the NIPC knows of this!?!

[sheik yerbouty]

In time of war, those facts can be changed.

[Paleo Conservative]

Vichy French water.

[Mister Magoo]

That's the free market. You live by the sword, you die by the sword. I have no problem with this.

[sheik yerbouty]

I'd hesitate to take a bet.

[expatpat]

That's the free market. You live by the sword, you die by the sword. I have no problem with this.

Unforunately, we have a monopoly situation in the supply of water, so talk of "the free market" is BS.

[txhurl]

Would you have a problem with Saudi Arabian ownership?

[Mister Magoo]

No, I would not. If we expect foreign countries to allow U.S. ownership of their industries, we must also allow ownership of ours.

[JudyB1938]

I can remember years ago reading that the Muslims were buying up farmland here in the States and that the Japanese were buying up prime metropolitan real estate. Do those people still hold title to those properties?

[Paul L. Hepperla]

did these people ever hear of Siemens? Daimler Chrysler? The same old folks bitching about RWE probably drive a Chrysler and get treated at the hospital by Siemens equipment.

It's a global economy people...

[Kay Soze]

We already have Saudi Control over water in the USA.

Do a google on the word CADIZ.

Read and weep.

[chimera]

AWK was based in NJ and as a good ex-Jersey boy I bought shares of AWK for years through their DRP (drip for a water company?). They paid a nice dividend and were a "safe-haven" kind of stock (everyone needs water). Then this buyout came along and I have to say it was a sweet deal for long-term shareholders, as it about tripled what I'd put into the stock over the years. Still, I wonder about foreign ownership of vital domestic assets and infrastructure. Yes, it is a global economy and free trade and commerce and all that, but, still, there's a nagging doubt about whether its the best thing to have happen, looking at the Big Picture...

[txhurl]

Yes, if we're to pay particular attention to our water and electricity assets during heightened terror alerts, seems it'd be easier if they weren't owned by foreigners with, as sheik yerbouty reminds us, jihadist sympathies.

[A Navy Vet]

Long time no see.

[Kenny Bunk]

An Irish Company owns the stone and gravel quarries!

[Eric in the Ozarks]

I think what we're seeing is European companies can't get a good return on their money in their own socialized countries.