Wednesday, May 28, 2008

The Chinese, or Koreans, or Swedes, or Mexicans, or Turks Are Coming!

According to Reuters, General Electric's CEO, Jeff Immelt, earlier today "named five non-U.S. appliance manufacturers, including China's Haier, South Korea's LG Electronics, Sweden's Electrolux, Mexico's Controladora Mabe and Turkey's Arcelik, as potential bidders for the company's century-old appliances business" in Louisville. Hopefully any international buyer will invest in retaining jobs in Kentucky instead of exporting them overseas. Query whether the local and state governments can do anything productive to influence that effort. Message to Mayor Jerry: Adding more languages to the "Welcome to Louisville" sign at the airport looks good, but will be little consolation to unemployed workers left behind if the new foreign owners move the business.

1 comment:

Jake said...

Jobs moving to China in 3, 2, ...