Weakened By Obama's Union Coddling, Cooper Tires Is Sold To The Indians
Cooper tires is becoming another victim of President Obama’s much too cozy relationship with the union machine. Cooper Tires was bought by an Indian company.
After President Obama sent a thank you to the Steelworkers Union and slapped an absolutely brain-dead punitive tariff of tires coming from China, a few things happened:
- Imports of low-cost tires did not stop. They came from other countries, at tariffs even lower than the old ones on Chinese tires.
- Not a single new job was created in America, but more than a few jobs at tire importers were destroyed.
- Americans paid more for tires.
- A trade war erupted. Retaliatory tariffs did hurt exports of big displacement cars made by Chrysler, Ford and General Motors.
- American companies that had tire production in China were hurt, most of all Cooper tires.
Today, “Indian tire manufacturer Apollo Tyres Ltd said it would buy Cooper Tire & Rubber Co for about $2.5 billion,” Reuters writes.
Currently, Apollo does not operate in the United States. “The acquisition of Cooper, the world’s 11th biggest tire company by sales, will give Apollo access to the U.S. market for replacement tires for cars and light and medium trucks,” Reuters writes.
Cheap Chinese tires are being replaced by cheap Indian tires. And another American company is being outsourced.
Bertel Schmitt comes back to journalism after taking a 35 year break in advertising and marketing. He ran and owned advertising agencies in Duesseldorf, Germany, and New York City. Volkswagen A.G. was Bertel's most important corporate account. Schmitt's advertising and marketing career touched many corners of the industry with a special focus on automotive products and services. Since 2004, he lives in Japan and China with his wife <a href="http://www.tomokoandbertel.com"> Tomoko </a>. Bertel Schmitt is a founding board member of the <a href="http://www.offshoresuperseries.com"> Offshore Super Series </a>, an American offshore powerboat racing organization. He is co-owner of the racing team Typhoon.
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I really don't care about the opinions , other than having your post deleted when it doesn't agree with whatever is going on here right now . And believe me I've had more than one comment deleted lately ! Your post only gets posted if it agrees with the collective lately . And that is no way to run a railroad .
Thanks Bertel! This site may or maybe not agree with some persons sensibilities...but it sure as hell isn't boring!! It would be refreshing to hear of ONE Obama administration policy that has NOT cost the taxpayers money..and jobs,no mater what their income level!
And what President's fault was it when Firestone got sold to the Japanese?
My second thought (after "thanks Obama!") was wondering how the headline would have been written if a German or Canadian firm had made the acquisition.