First the GM Building, Now New York's Chrysler Building Bought by Abu Dhabi

[PhishPhood]

Originally Posted by BGH

I don't see what so depressing. American companies are all over the world buying assets. Better have money coming into your country than no money at all. Would you like it better if they took the oil money and bought things in China?

Yes precisely......

I too don't see what all the hand-wringing is all about. Guys, this is what businesses do. They make things, or invest in things then they sell them for a profit to buyers. For the owners of these products/assets this is Christmas-in-July, literally. Good cheer all around, mega-bonuses to be paid at the end of the year.

C'mon wake up. This is what business is about.

[hunchman]

Originally Posted by Ming

Huh? I thought that purchasing the biggest SUV possible and guzzling as much gas as your Freedom allows was the way to "Keep America Rolling" / "Keep the Economy Growing", and was the true Patriotic thing to do? Get a big American flag magnet put on the tailgate of your mega pickup you drive to your desk job - that sort of thing?

Ah, but we should be happy that the Middle Easterners are "investing" in our properties, and not just building mega towers and artificial islands in Dubai. So we should buy more oil to thank them!

And to think that instead, the long-haired greenies in their old diesel Chevettes running on french fry oil are actually the ones protecting America as we know it....

Where do you get those big american flag magnets because I've been looking all over for one?

[civilzues]

what was the purpose of the GM Building in NYC? I looked it up and didn't find any real information.

[PhishPhood]

Originally Posted by civilzues

what was the purpose of the GM Building in NYC? I looked it up and didn't find any real information.

It was just an investment. It is/was located at one of the prime real estate points in the entire city at that time.

[wescoent]

Originally Posted by PhishPhood

It was just an investment. It is/was located at one of the prime real estate points in the entire city at that time.

I believe it was meant to be the headquarters of all GM's east coast operations at the time. Whether that panned out, I'm not sure.

[PhishPhood]

Originally Posted by wescoent

I believe it was meant to be the headquarters of all GM's east coast operations at the time. Whether that panned out, I'm not sure.

Yep finished in the late 60s boomtime. From Wikipedia
http://en.wikipedia.org/wiki/General...ding_(New_York)

It is opposite the Plaza Hotel diagonaly across the intersection from the 5th Ave and 59th St entrance to Central Park just below the uber wealthy apartments, condos and coops on 5th Ave in the 60's and just above Tiffany's on 57th St. The center of the world at the time so to speak.

In the final scene from 'The Way We Were' Robert Redford leaves from in front of GM building to cross to the other side where Barbra Streisand is in front of the Plaza.

[Uzzy]

Originally Posted by MCGARRETT

The REAL GM building is in Detroit, on West Grand Avenue, it was GM's world headquarters from 1921 until they moved to the Ren-Cen, it's know today as Cadillac Place.

The 60 story GM building in in NYC was built in 1968 and sold in the late 80's, though GM does or did keep offices in the building, it has been through several owners.

Yes, thank you. I've been in there, it's nice. That's what I thought at first when it said the GM Building, but it also said in Ney York, so I figured then it was another one. Not a tall building, but has a distinct shape on the outside.

[vcs2600]

Originally Posted by wescoent

I believe it was meant to be the headquarters of all GM's east coast operations at the time. Whether that panned out, I'm not sure.

It's also right off Madison Avenue, so I'd speculate that GM ran a lot of their advertising work out of there.

[tgagneguam]

Originally Posted by GMusa

why does the U.S. allow itself to contiue to be own by foreigners?! It makes me sick. This isnt even America anymore.

Because it should, as should other countries. It makes buying a condo in Rome cheap (ahem) when the dollar was strong against the euro earlier in this decade, and the reciprocity allows American citizens, like myself, to buy foreign equities in Russian, Brazilian, Chinese, Indian, UK, and German firms, the performances of which can stabilize a retirement portfolio when American equities are struggling.

[Ahmad]

I don't see a problem with this. The building will still look the same.

[member12]

Who cares?

They are not going to move the building to the middle east. The Chysler building was a tough sell to smarter investors because it is old, in need of renovations, and is not as marketable as other manhattan properties. Who knows? The real estate market could crash in manhattan and all the tenants can move out- but they wouldn't have invested in office space if they thought that would happen.

This is an invstement into America's real estate....(and since it's middle eastern owned, I wonder what that means as far as it being a target of terror?). I don't see why this is such a big deal.


Be more worried about the financial institutions going to the middle east.....be worried if General Motors goes to TaTa. The middle east going to have to re-invest in something since we are likely not be using as much oil in 30 years as what was projected a decade ago....and if the Chinese ever decide they'd like some mineral rights in the Persian Gulf,it's going to be tough to stop them since few others will have interest in the region...esp. America starts drilling it's own oil and is dependent on energy sources other than oil/gas- two very likely possibilities.

As unstable as our economy is now, we can still sell stability (government and economic) to foreign investors.

When we can't get a gun or vehicle (to essential industries for our national defense) made in this country by an American company, then be worried. If Exxon or Marathon gets bought out by the Chinese, then start to worry.

Telecom, air/space, Oil (and other energy industries), automotive, weapons, and textiles are very important if it hits the fan and we end up in WWIII.