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American companies now on wholly or in part by Muslim countries

Reader comment on item: Islamic Economics: What Does It Mean?

Submitted by Rachel Garber, Philadelphia (United States), Sep 27, 2007 at 20:02

Regarding the recent article about "Islamic economics", a very disturbing phenomenon has come to my attention via a very depressing book, Price of Honor, Muslim Women Life The Veil Of Silence On The Islamic World, by Jan Goodman.

In one of the earliest chapters, Ms. Goodman details the numerous companies that are owned by Arabs, Saudis and Kuwaitis in particular. These companies include Saks Fifth Avenue (now there's irony for you, weren't they Jewish at one time), Tiffany's, Carvel Ice Cream, Gucci (controlling interest) and Color Tile. Also, AT&T, Chrysler, Dow Chemicals, Atlantic Richfield, Santa Fe International.

A Saudi prince owns 10% of the stock of Citibank. Saudis also purchased half-interest in Texaco refineries, gas stations in 33 states. They bought United Press International (and we thought the media in this country was already biased against Israel), AOL, Chase Manhattan (aren't they headquartered in the city where the World Trade Center was bombed) Compaq (I wish I had know this before my nephew bought my laptop) First Chicago Corp. JP Morgan, Transamerica (soon to be re-named Transarabia [I just made that up])

The really disturbing part of the information in her book, aside from the vicious treatment of women who dare to step out of line in their respective countries, is the unbelievable relationship that the Bush family has, and has had with the Arabs, up to and including Osama bin Ladin's brother. No wonder he is still at large, and our soldiers are dieing in Iraq. No wonder a CIA agent was outed, when her husband dared to disagree with the "yellow cake" issue.

George W. Bush loves to talk like a macho man, he doesn't mind expending American lives in Iraq, but instead of wrapping himself in the American flag, he seems to be wrapping himself in a green and white flag, as do the former owners of these "American" companies.


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Daniel Pipes replies:

Arabs certainly have interests in many American companies but it's an exaggeration to they "own" or "bought" all these companies, implying they are all wholly under Arab control.

To take one example, AT&T is majority owned by a wide range of institutional investors, starting with Vanguard & State Street Corp. See http://www.nasdaq.com/symbol/t/institutional-holdings

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