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November 05, 2008

Missouri money, foreign cars

Am I the only one who noticed that director M. Steve Yoakum and other executives of the Missouri’s Public School and Education Employee Retirement Systems board chose not to support the employees and many retirees of the American auto industry who live in Missouri? (10/19, A-1, “Apple for the teacher, but luxury for execs”) By purchasing Toyota Camrys, they instead sent the profit out of the country.

W.C. Ruckman
Kansas City

Comments

Marctnts

I've got it. We should all buy cars from domestically based manufacturers, and so should the rest of the world.

Oh wait, if Ford can't sell in Europe, their only profitable division is gone. Never mind, isolationist practices never actually work, but boy, they sure sound good.

Marctnts

Beans is right. The Camry is produced in the US. What exactly is Ruckman complaining about?

Casady

By purchasing Toyota Camrys, they instead sent the profit out of the country....

And in turn, the manufacturer located in that other country invests their profits in T-Bills which funds our nation debt. W.C. Ruckman really needs to see the scenario all the way through.

Pub 17

Hey genius, buy a thousand shares of Toyota stock. Now the profit stays in the country, as well as the wages and the taxes.

bigalsbeans

Hey genius, the Camry is built in Kentucky! Last time I checked, that was in the United States!

Perhaps as stewards of taxpayer money, they were more worried about value than cronyism?

stone

and they also ensured they would get a car that would last a long time and work well, while getting good gas mileage. Sure we need to produce more goods in the US and import less, but frankly, when the quality of foreign (owned) cars (built in America) trumps those of American (owned) cars built in america, I would go with the foreign.

 
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