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Economy / For. Investments / Dollar Values #255455

CBS Evening News for Friday, Nov 10, 1978
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(Studio) Incr. in foreign investments in land and banks in United States over last few years noted. With dollar devaluation, foreign investors reported to be turning to other United States investments.
REPORTER: Walter Cronkite

(Atlanta, Georgia) Purchase of J.A. Jones Construction Company by West Germany's Philip Holtzman Company reported Decr. in dollar value noted to have decrease actual value of purchase price, offered last year [Ironworker Marvin MIZELL - thinks it's low blow to American people for Germans to buy company] [Supt. Tom BEECH - says more money that turns over in US, more profit American people will see.] Plans to continue company's projects in Saudi Arabia, Iran, WA, Idaho and Louisiana stated. Dutch company's offer to buy Life Ins. Company of Georgia, which insurance company refused, reported.
REPORTER: John Sheahan

(DC) Report on extent of foreign investments in American, according to Commerce Department figs. Exs. given are purchase by German company of American firm making Alka-Seltzer, British company's control of firm manufacturing Kool cigarettes and Japanese firm's purchase of half interest in New England Coca-Cola franchise. OPEC (Organization of Petroleum Exporting Countries) investments in American also outlined. Officials' prediction that foreign investments will slow down if recession hits US, due to President Carter's anti-inflation program mentioned. Concerns about amount of foreign investments and views that it is healthy trend reported.
REPORTER: Barry Serafin

(Studio) Dollar values against Japanese yen and European currency reported.
REPORTER: Walter Cronkite

Reporter(s):
Cronkite, Walter;
Serafin, Barry;
Sheahan, John
Duration:
00:03:40

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