America for Sale
How the Foreign Pack Circled and Devoured Esmark
Craig T. Bouchard, James V. Koch
- 224 pages
- English
- PDF
- Available on iOS & Android
America for Sale
How the Foreign Pack Circled and Devoured Esmark
Craig T. Bouchard, James V. Koch
About This Book
Exploring the issue of foreign ownership of corporate America, a leading economist and the president of the steel producer, Esmark, revisit the sale of that company to a Russian firm. Is it a good idea to allow foreigners to purchase critical and strategic American assets? No, say authors James Koch and Craig Bouchard. In America for Sale: How the Foreign Pack Circled and Devoured Esmark, Koch and Bouchard use the sale of Esmarkâa transaction that put over 50 percent of American steel production into foreign handsâto make the case that this trend presents a clear and present danger to the economic future of United States of America. America for Sale recaps the amazing, sometimes incredible events leading up to the sale of Esmark, including intense pressure from the United Steelworkers and the company's major public shareholder to make a decision not in the best interest of all shareholders. It also analyzes the efforts by the Esmark board of directors to observe its fiduciary duty, details the company's "poison pill" effort to raise its sales price, and describes the actions of Leo Gerard and Ron Bloom of the United Steelworkers Unionâwhich led to some surprising alliances. The authorsâone Esmark's president and vice chairman of the board, the other an Esmark director, preeminent American economist, and former university presidentâthen provide their own assessment of the Esmark story. They offer legislative and policy prescriptions aimed at making sure U.S. business doesn't devolve into one big garage sale to foreigners seeking to take advantage of the coming decline of the U.S. dollar.