On December 11, 2012, Don Lee and W.J. Hennigan write in the Los Angeles Times that Chinese companies have snapped up $6.5 billion in U.S. assets this year, and the buying spree is expected to continue.
Capping a record year of Chinese deal-making in the U.S., a consortium of state-owned and private investors is planning the biggest Chinese takeover of an American company: $4.2 billion for one of the world’s largest aircraft leasing firms.
The deal to buy 80.1 percent of International Lease Finance Corp., a Century City subsidiary of insurance giant American International Group Inc., followed a weekend auction in which another Chinese company bought three U.S. factories and other assets of electric-car battery maker A123 Systems Inc.
As I wrote previously on December 8 ( http://www.latimes.com/business/la-fi-ilfc-china-20121208,0,3454842.story) this story is the tale of yet another sell-off to the Chinese instead of to the American employees!
Our leadership should get their heads out of the sand and rally support for employee ownership of the profitable AIG unit.
Sign the Petition at http://signon.org/sign/reform-the-federal-reserve.fb23?source=c.fb&r_by=3904687
Sign the WhiteHouse.gov petition athttps://petitions.whitehouse.gov/petition/reform-federal-reserve/PhY3Jswk
AIG should initiate an Employee Stock Ownership Plan (ESOP) to extend ownership to ILFC employees.
The Just Third Way system is available under present Federal laws encouraging ESOPs, but it is limited to workers in the for-profit private sector. We now want to get the same changes to the tax, financing and inheritance systems for enabling every man, woman and child in America to become owners through capital credit for buying new capital growth shares in the private sector that would be repaid with the earnings of the new productive assets (“future savings”) represented by those shares. Today over 11 million workers have become owners without requiring them to reduce their consumption to buy the new shares. That helps grow the wealth-producing economy. We now want to do the same for 310 million citizens, including the disabled, to make the free enterprise economy grow faster without inflation, create millions of new growth jobs, and radically shrink the economic power of government and the need under the current system for government to redistribute incomes and wealth of current owners.
Support the Capital Homestead Act athttp://www.cesj.org/homestead/index.htm andhttp://www.cesj.org/homestead/summary-cha.htm
