Link to subject
- Cars.com
But this does not take into consideration of where the profits go too and did the profits generate revenue for this country or another one.
Where, exactly, do you think the profits go for "domestic" manufacturers? A large majority of it goes into the pockets of the CEO's that we all love to hate. The same guys that run a 100 year old company into bankruptcy, get bailed out by the US taxpayers, and then invest the bailout money into Mexican plants all while taking the profits they should be reinvesting into the company and instead paying themselves large bonuses and new private luxury jets to use to fly to Washington to beg the government for money.
You can say what you want about 'where the profits go,' but probably the biggest factor in auto manufacturers helping the economy - at least at the level you and I are most likely to see - is employing American workers, who in turn spend that money here, in our local and national economy. And couple that with the fact that when you're not making a profit at all - for consecutive reporting periods - there's no "profit" going anywhere.
Not exactly what I was trying to imply with my earlier post, but just because something has GM or Chrysler or Ford on it doesn't necessarily make it any more "American" than a Hyundai built in Montgomery, Alabama, or a Toyota built in Texas using 50%+ American supplied parts and American labor. I'm good with profits of Toyota and Honda going to Japan because they seem interested in reinvesting those profits here in the US whereas some other companies apparently don't.
So yeah - buy 'American' based on the logo and all....
I work for a foreign owned company, and if you don't think by the company being profitable that it doesn't help the economy in the US (even at a small localized level), you're wrong.
That is a good article though, especially the part that barely touched on globalization. I think as a nation/economy, we have a lot of adjusting to do in regard to figuring out how to compete on a global level for other-than-service type areas. Either that, or we face the risk of being a nation totally dependent on others for our manufacturing needs. So there is a fine line when it comes to buying stuff that's "made in America."