| Show 0 cp Bustrmss The Salt Lake Tribune di V Sunday October 3 1993 i 'Thank Heavens for US Jobs — Made in Japan Germany By David E Kalsh THE ASSOCIATED PRESS - NEW YORK and labels once made US workers fear for their jobs Now the jobs themselves are made oversPas — and Americans are grrateful While scores of US corporations are slashing payrolls companies such as Merced es BMW and Toshiba are creating thousands of jobs in this country by opening new factories and expanding existing ones Foreign investment here has surged this year reversing a three-yea- r Made-in-Germa- Made-in-Japa- de-di- The trend some economists say coull give a small but timely boost to the fragile US recovery which has been undermined by widespread layoffs as companies struggle to pare costs It also suggests a brighter side to the rapid globalization of US business decried in the past for shipping jobs overseas in American industries ranging from textiles to electronics "However you cut this this is good for the United States" said Paul Boltz chief economist at T Rowe Price Associates Inc a Baltimore-based investment-manageme- nt If you ask most workers there once was a lot of concern about who was the mcmagement But a lot of that concern has dissipated A lot offoreign companies will maintain US management t year-to-ye- ar sis: For their part US companies plan to increase investment LYNN REASER spending on new plants and equipment by 71 percent this year according to the Commerce Department But economists say it's mostly for computers and other machines that improve productivity lower labor costs and enable these companies to better compete with foreign rivals Moreover a recent survey by the Conference Board shows that declining faith in the future strength of the US economy is leading many businesses to scale back glans to invest in new plants and equipment While the nation's unemployment rate edged down to a low of 67 percent in August weakness among manufacturers continued as businesses shed 39000 jobs from their payrolls Labor Department figures show For foreign companies however the cost of US labor has become attractively inexpensive Consider Germany where workers get an average six weeks' vaoff than anyone else in Western chief economist at First Interstate Bancorp in Los Angeles "If you ask most workers there To be cure American businesses also are hiring workers but :arge-scal- e layoffs have overshadowed any gains Even healthy once was a lot of concern about who was the management But a lot of that concern has dissipated" said Lynn Reaser chief economist at First Interstate Bancorp in Los Angeles "A lot of foreign companies will maintain US companies like Procter & Gamble Co and Anheuser-BuscCos are cutting payrolls is By contrast Mercedes-Benpreparing to announce it will construct a new $300 million plant in Alabama that will employ 1500 workers capping a fierce competition among several states to lure the automaker's first US factory Last year South Carolina won a multistate competition for a plant from BMW Mercedes' German rival in the luxury-ca- r market BMW expects to begin production in Spartanburg SC in 1995 Indeed any stigma patriotic workers used to attach to working for a foreign employer has been largely forgotten in today's ecenomy h z managemeat" The story of foreign company interest in the United States is told in the numbers Direct foreign investment here rose to $17 billion in the first half of 1993 up sharply from $24 billion for all of last year Commerce Department figures show A previous surge in foreign investment in the 1980s mostly went toward buying existing American firms not creating new jobs said Robert Z Aliber professor of international economics and finance at the University of Chicago's Graduate School of Business He said the latest influx of for hard-knoc- k firm eign money "will lead to a very modest increase in the demand for US labor We're talking tens of thousands not hundreds of bathousands on a I n cation a year — more paid time Europe US labor in contrast has given back many of the benefits won during the booming 1980s A low inflation rate in recent years in the United States also has helped control labor costs Foreign companies also are responding to a sharp fall this year in the dollar's value led by a 15 percent plunge against the Japanese yen That means their goods cost more here hurting their sales and profits Battered by the high yen Honda Motor Co said this summer it would cut costs by producing in the United States all the Accords and Civics it sells in North America But the move part of a plan to cut 3000 Japanese workers by 1996 is not certain to add jobs in the United States Other Japanese car manufacturers also are considering US production stepped-uOutside the car industry Toshiba Corp said it shifted production of computers using advanced screens to its Irvine Calif plant this month a move that will add 100 workers The computers had been made in Japan Electronics giant NEC Corp said it will shift production of laptop computers to its Seattle factory in early October But no immediate layoffs in Japan or new US jobs are planned two-ye- Foreign businesses step up investment in the United States decline icteign Revewg a three-yebksresses sharpfy riaeased teir presence i the US the first hat of ar trus year from 1997s weak level wteri a depressed Octal economy danipened new irvetTents The foreign oompenes American jobs at a time are mein when US firm are larng off thousands of workers US 60 I 50r'ifl I I - 40 t I 30 p ar jobs (in billions) foreign-mad- e 4 I 20 color-monit- II II 10 I 1 i 0 1988 1989 1990 1991 1992 1993g i Year first six months Associated Press Source: Commerce Dept 0 United Lufthansa Air Will Forge Alliance THE ASSOCIATED PRESS 1?------ — United Airlines LONDON and Lufthansa German Airlines are about to join the air travel industry's growing list of alliances that let carriers share passengers Lufthansa had been courting United and American Airlines but United will be the partner announced by the German carrier at a news conference Monday in Frankfurt The deal will involve a "code sharing" agreement that allows carriers to list connecting services under one flight number deals have become more popular in recent years as airlines try to expand their global reach without forming outright mergers with other Code-sharin- 44 L - img n- i 11 I m B F v r:: : NO SELLING REQUIRED WILL NOT INTERFERE WITH PRESENT EMPLOYMENT seeks local person to service accounts set up by Locating Co NABISCO Handling NESTLES products & SNICKERS Candy Route Must have $7750 CASH! 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"Local Bus 3 Available External 'Dos 3 HARD DRIVES Stale ol Utah Division of Facilities Construction and Management requests all persons interested in leasing office specs to the State to imam S ProPose 61 WO pm Wednesday October 61993 Specifications and tomb for submitting proposal are availabis upon request at the Division of Facilities Construction end Management Contact Stan Smart State Tax 1 to questions tinetthnli ComtMseion at NAM and functional needs of ths agencies PROPOSAL iolurrocicAnoso DPCM93004 PARKING' i 4 4 Awe 1 latilitiviiii t - 7 p The or Lima r ik 485SX-2- 5 - - STATE OF UTAH ADVERTISEMENT FOR SPACE LSNOTIS -- (expandable to 32 Meg) ! A IU 4) 4 Meg RAM '170 eDual Floppy 512k VIdeo Mouse meg HD 'DOS 60 Mindows 31 'SUPER VGA COLOR MONITOR skuno6122006473o OF FACILITES CONSTRUCTION AND RESERVES THE RIGHT TO REJECT ANY OR TO WAIVE ANY FORMALITY PI ANY PROPOSAL 24 BEST ItTEREST OF THE STATE DIVISION MANAGEMENT OR ALL PLIYWTSALS OR TECHNICALITY Neese submit proposals toe Alton D Vomon Division ot Foollitles Construction Management 4110 State Office Building Salt Lake CNY Uti 14114 Teisplionm 6384430 - ' 71' and Ilittrnal Fax Vodeml VGA Cc!cr Licetitcr ss LOG" VAN Option I II CO:'1POIEfil PACIIII0E SQUARE FEET 1465 WEST I ' '''''''' v "Dual Floppies 4 Meg Ram (1i'l 6DFJ1 STATION LOCATION' 01P1P RESIDENCE USED AS A FOR THE SUPERINTENDENT OF AT THE THE HATCHERY FISHERIES EXPERIMENT Ottion AMmotimalia '' ' ' ' 11:CIiiifil TsfaHilrflaILTVErifErCom HOME TYPS OP SPAM AMOUNT OP SPACES o02 Features: i 04 LJ------ FORSAERLY LOCATION: -- computer package Is fully loaded to handle any task 486DX2-6- 6 Processor 256K Cache 340 tries Hard Drlve 'Math t This ' 1 —1 am State of Utah through not Division of Facilities Construction and Management lannOWICOS thi silo of Irasidential Isom in Logan Utah The home may bs soe by contacting Ron Goode St the Utah Division of Wildlife Resources M Logan UNA Telephone (801) 7524066 The home must be moved from the sits by the succotash ProPoser Sealed Proposals must be submitted by 200 October 61883 At toast 10 of the proposal in the of a Cashiers of Codified Credit Union Check must accompany each proposal Maks checks payable to the State of Utah More Information and proposal forms ars aviEtabti uPon MINA at this office PROPOSAL IDENTIFICATION: DFCM9309--1 BUILDING DESCRIPTION A 1 STORY WOOD : i ' J - ' was ii: T''7::'i LZ--- i - - : J :--- DAYS I -- — - i ' 1 — 0 The SIZIL ' ''0tri Suptr - - :- -- --:- -- I Mfg I --- 1TP- ' ' i — — L DISTRIBUTORSHIP BUILDING - ' L NESTLES & NABISCO APPROXIMATELY i PAC111 GE tyliih LOCAL BUS VIDEO 1G od 3 L-7- with an American partner during talks between US and German regulators FRAME n i 0 6g1266 e 011riptiTEll 13 code-shar- e PUBLIC SALE OF STATE PROPERTY REQUEST FOR PROPOSALS DFCM9309-- 1 I -' greater access to the lucrative US market won the right to $3400mol 24 HRS 7 i a d1 ca tpi g earnings of j( Q1LIL '' ' 11: I 1 1 - leic i carriers Lufthansa seeking ME D 4-- It I h11r1) 11 I 1 I 1 United-Lufthans- a ' 4 - - Li u rl r j 4 I Oak Slide out reyboard SUM skansten-s4- ! -- 4:11771 WE CARRY OUR OWN CREDIT ACCOUNTS: c Tffilzzac cr:e otzp:r4 rti 1 4 r"a'a T' HOURS: ' STORE t ZIR : 9" cubs Cow ogoontioly payments tia matt Any limmiset 'Vol Iduall gwAbe'l Promos moo soy ocoot4tote to yew wool Wawa Ilt: s ii N 0 AyIt D Awl woomod j dome poosoot od ' '' et94410 i r- I akoftdade6 AM 400 |
