Thursday, August 16, 2007
Britain's foreign owned industry
Is there something wrong with Britain's managers? Probably yes.
An investigation of 700 companies in Britain during 1990 by two economists, David Bosworth of the University of Manchester Institute of Science and Technology and Richard Wilson of the University of Warwick found that foreign-owned firms producing in Britain 'seem to outperform their UK-owned counterparts, both in terms of skills, R&D and the use of advanced technologies, and in terms of most of the performance measures, such as profit and turnover'. (Accountants should not run British industry - 20 March 1993 - New ...)
The British Airports Authority, which runs 'strategic pieces of infrastructure' as Heathrow, Stansted and Gatwick, is foreign owned.
Most of Britain's power industry is owned by Americans, Germans or French while the Dutch own half of Britain's steel industry.
P&O is owned by the state of Dubai.
Pilkington was taken over by the Japanese.
A string of British owned businesses have been sold to foreign companies. Among them are Hilton Hotels, Vodafone Japan, BAE's Airbus Stake, Amec's French operations, Allied Domecq, Pilkington, BPB, O2, Exel, P&O, BOC, The Body Shop, Abbey, BAA, Corus, Scottish Power...
Posted by Anon at 6:12 PM