The dismantling of American industry continues with today's announcement that Indian industrial giant, Tata, has purchased American soda ash producer General Chemical.
Financial Times link here.
Somewhere buried in the press release from General Chemical will be the standard boilerplate about maximizing shareholder value, I would imagine. For whatever the reason, we have proof, yet again, that the rest of the world remains willing to engage in heavy, primary industry while those here in North America busy ourselves hand wringing over the old economy being dead.
Then, we have Microsoft offering to buy Yahoo! for around $US44bn which is sure to excite nearly everyone in the 'new economy' entertainment industry CNN story here. which amounts to both of those giants of dubious world value selling each other hats.
But, does anyone really notice? Probably not.
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