Free Republic

Las Vegas, NV. On June 23, 2005, China’s largest state-owned company, China National Offshore Oil Corp. (CNOOC), made an announcement of an unsolicited bid for Unocal, a California-based United States oil company ranking ninth in U.S. oil production. That bid has been received with considerable reservations. It is that which is not known about the bid and its motivations which present a tremendous task ahead for the U.S. Congress and Wall Street. The ramifications of the buyout of a major U.S. energy company by the Chinese are a possible threat to national security and the U.S. This bid is unprecedented...

Keep Communists Out Of American Boardrooms Carlton Delfeld, 06.28.05 There are two principles that should guide America's policy towards foreign companies interested in acquiring ownership and control of U.S. companies. These principles are openness to private investment in areas not affecting our national security, and reciprocity in allowing American companies to invest in the potential buyer's home country. These principles should be applied consistently and should not be aimed at any specific country. Given the recent controversy regarding high profile Chinese bids for American companies, these principles should be applied to determine whether these bids are acceptable. First, we must...