Do you know who owns Thomas’ English Muffins, The New York Times newspaper, and Saks Fifth Avenue? – Mexican corporations. Mexican investors are taking advantage of low interest rates and diminished prices during the economic downturn in the United States. They are buying U.S. brand names, expanding their U.S. operations, and increasing their investments in U.S. firms.
Such companies are going to need good public relations to overcome the animosity that comes with foreigners owning U.S. businesses. There are also many stereotypes to defeat, such as the businesses being bought with drug money or by illegal immigrants (even though what they are doing is not illegal and they are not immigrants).
Some even think Mexican investment in the U.S. will benefit both countries. It could create more jobs in the U.S., while also helping to strengthen Mexico’s economy. Other products currently produced by Mexican owned corporations include: Entenmann’s pastries, Arnold Bread, Boboli Pizza Crust, Dairy Fresh Milk, Net10 cell phone service, Borden dairy products, Flav-O-Rich milk, and Straight Talk cell service.
Do you think Mexican corporations buying U.S. businesses is going to create ill feelings with the U.S. citizens and a need for good PR, or do you think this is merely another facet of globalization?
This guest blog was written by staff member Trish Wyatt.