America for Sale: How the Foreign Pack Circled and Devoured Esmark

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ABC-CLIO, 2009 - Business & Economics - 210 pages
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Is it a good idea to allow foreigners to purchase critical and strategic American assets? No, say authors James Koch and Craig Bouchard. In America for Sale: How the Foreign Pack Circled and Devoured Esmark, Koch and Bouchard use the sale of Esmark a transaction that put over 50 percent of American steel production into foreign hands to make the case that this trend presents a clear and present danger to the economic future of United States of America.

America for Sale recaps the amazing, sometimes incredible events leading up to the sale of Esmark, including intense pressure from the United Steelworkers and the company's major public shareholder to make a decision not in the best interest of all shareholders. It also analyzes the efforts by the Esmark board of directors to observe its fiduciary duty, details the company's "poison pill" effort to raise its sales price, and describes the actions of Leo Gerard and Ron Bloom of the United Steelworkers Union which led to some surprising alliances. The authors one Esmark's president and vice chairman of the board, the other an Esmark director, preeminent American economist, and former university president then provide their own assessment of the Esmark story. They offer legislative and policy prescriptions aimed at making sure U.S. business doesn't devolve into one big garage sale to foreigners seeking to take advantage of the coming decline of the U.S. dollar.

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Contents

Chapter 1 America for Sale?
1
Chapter 2 I Want EurosYou Can Keep Your Dollars
37
Chapter 3 Can It Will It Happen to Me?
69
Chapter 4 All That Is Made of Steel Is Not Unbreakable
89
Chapter 5 Esmark on the Attack
111
Chapter 6 Hunted by the Pack
135
Chapter 7 Winners and Losers
157
Chapter 8 If We Were Running This CountryWed
173
Notes
195
Index
199
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About the author (2009)

Craig T. Bouchard is the president of Esmark, Inc.

James V. Koch is board of visitors professor of economics and president emeritus at Old Dominion University, Norfolk, VA.

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