Do Foreigners Care For The U.S. Economy?
Sunday, 07.01.2007, 02:39pm (GMT)
I've been working for an engineering firm for over 6 years. The
original company has been bought out and is now owned by a foreign firm
residing in Germany. I might add, it's owned by the Germans.
I came on board right when the whole transaction was taking place - 6
years ago. Since then, a very noticeable trend has been noticed by the
employees hired before the transition - or what was left of them. As
the American employees were leaving the company for one reason or
another, they were being replaced by German employees. Also, as new
positions were opened, most of the positions were filled with; who else
but German individuals. 6 years after the buy-out of the American firm,
the ratio of the American employees vs. German employees has increased
to around 50/50. The total amount of people in the company didn't
change much, but the ratio changed drastically.
Back in November of 2001 when the massive layoffs were happening around
the country, over 100 people lost their jobs in one day. They were let
go. The reason - bad economy. Well, the economy has picked up since
then, at least for this company, but the people were never called back.
Their positions were filled in with; yes you guessed it right - non
American people for the most part.
Toward the end of 2004, a major change occurred in our department. All
of the American "chiefs" were replaced by German "chiefs." And then, we
had a group meeting where the "biggest German chief" addressed us. At
the meeting we were told that, quote: "We have too many American
Suppliers." Their goal was to outsource the work to foreign companies
for cheaper labor. That meant getting rid of the "American Suppliers."
More American people loosing work and even their jobs. The term "We
have too many American Suppliers," was mentioned several times by the
biggest German "chief" at that meeting.
At the same meeting we were also notified that "they" were going to
close an assembly plant providing incomes to several hundred American
families. The work was going to be transferred to Mexico for cheaper
labor. Well, the plant in Mexico was already built, and by the end of
that year, around 400 people lost their jobs in one day.
The company is still experimenting with third world countries for
outsourcing even more work. The company's stock has been soaring for
the past 6 years. From what started out as $7 per share, it's now over
$100 per share. The company is raking in tremendous profits each year.
And where does that money go?
Well, the mother company outside the U.S. is accumulating all that wealth while boosting their economy.
And, what about the U.S. economy?
It has become a nationwide trend for foreign companies to come in and
buy out American companies. But then, the foreign company has to pay
the U.S. workers in U.S. dollars. That money converted to their native
monetary ends up costing them much more than what they would pay their
own people in their homeland. Or, the alternative would be to bring in
their own people in place of the American workers. And the rest, well,
ship the work to third world countries for cheaper labor.
The company now ends up generating an enormous profit since the
expenses are significantly lower than what they were with the American
Owned company. Low paid foreign employees working on U.S. soil and not
paying taxes, supported by cheap labor from the third world countries.
And what happens to the American families caught in the middle of this
economic shift?
America is known to be providing relief to disaster areas and providing
support to countries in trouble. But who is providing relief to the
American Families in great need? Who is providing relief to the
American families buried in financial debt? Who is providing relief to
the American people who have lost their jobs because their work was
shipped over to third world countries for cheaper labor?
Who is providing relief to the over-exhausted father that I bumped into
while doing my grocery shopping? He was so tired he could hardly keep
his eyes open. We attend the same church. I said "Hi" to him as he
tried to force a smile onto his face. He could hardly talk. I kept my
conversation short. He was let go from his job several weeks ago. Now
he works 14 hours a day at two odd jobs, while trying to bring in the
same income that he used to bring to support his wife and two children.
Who is going to provide relief to the overworked parents that had to
pull their 17 year-old daughter from school? They both worked at the
same job and they both lost their jobs after their shift was completely
eliminated. The work was transferred to Mexico. Now they both have to
work for a measly $7 an hour while having their 17 year-old daughter
watching her 2 younger siblings. The mom asked my sister to help her
find a better paying job.
Who is going to provide relief to the father who has to work in a
different state? He was let go from his job after it was bought out by
- gues who - a foreign company. He couldn't find another job for 8
months. His family ran out of money and they came to ask us for some
financial help. He finally did find another job, but in a different
state. On Sunday evening, he leaves his wife and two little daughters,
and drives away. On Friday, late in the evening, he comes back home to
spend only two days of the week with his loved ones.
Who is going to provide relief to the cashier at the local food market
that couldn't stop begging me to take his resume and pass it around? He
lost his job because his position was eliminated and outsourced. Now he
works as a cashier while passing his resume to as many customers as he
can at the check out.
Who is going to provide relief to my friend who lost his job because
the company that he worked for was bought out by - a foreign company?
The reorganization did not include him as well as many of his
coworkers. He never got his job back so now he has to work for half of
what he used to make while trying to provide for his wife, two little
girls and his elderly mother.
Who is going to provide relief to all the people who lost their jobs
because their positions were transferred over to a third world country
for cheaper labor? How are they going to feed their families? Can they
find other jobs that pay the same money or maybe more?
As I drive around town, I continue to see foreign flags popping out in
front of many local firms. What's the message? The firms have been
bought out by the foreign company that the flag represents.
I continue to talk to local people who are telling me the same stories.
They're losing their jobs because their positions are either being
transferred to a third world country such as Mexico, India and China
for cheaper labor, or they're being replaced with foreign workers on a
working visa.
American people are continuing to lose their jobs or being forced to
work for less money while getting deeper and deeper in debt. The
foreign companies are continuing to buy out American companies, while
doing anything to increase their profit - even if they have to get rid
of the American Employees from what was previously an American Owned
company on American soil.
The former American companies now owned by foreign companies are
continuing to generate enormous profits because of the lower expenses
(work force) combined with the profit from their sales. That money is
continuing to boost the economy of the country that the mother company
is from.
Meantime, the American economy is continuing to ride the roller coaster.
The cost of living is rising at a frightening rate, but the American
people aren't getting any major adjustments to their salaries. The
bankruptcies are at an all time high. The credit card debt is reaching
alarming heights. The foreign flags are continuing to wave proudly next
to the American flag; line-in-line; on American soil.
But how much do these foreigners really care for the American economy?
|