Hey Obama, what happened to "buying American"?

[Rocko1]

Summary:

Obama gives support, marketing a Canadian company RIMM.

link
http://finance.yahoo.com/tech-ticke...an"?tickers=RIMM,^IXIC,GOOG,AAPL,PALM,GM,^DJI

Posted Jan 09, 2009 05:29pm EST by Henry Blodget in Investing,

From Silicon Alley Insider, Jan. 9, 2009:

No risk of protectionism in the Obama Administration, apparently. The President Elect is happily providing an estimated $50 million of marketing support for...Canadian company Research in Motion (RIMM).

And thank goodness for that.

In today's global economy, a lurch toward protectionism would be a disaster. If an American company can't build a smartphone that Obama wants more than the Blackberry, then the heck with "buying American" (which doesn't mean anything anymore anyway).

In fact, it's a credit to the technology industry that Valley stars aren't bemoaning this "Benedict Arnold" move by the future chief executive. Can you imagine if the product Obama was telling his staff that they'd have to pry from his cold, dead hands was a Toyota or BMW?

That said, this is one hell of a product endorsement. So Apple (AAPL), Palm (PALM), and Google (GOOG) should be shipping some serious swag to the Oval Office to try to win over the world's most influential spokesperson.

 

[Renegen]

Quote from Rocko1:


In today's global economy, a lurch toward protectionism would be a disaster. If an American company can't build a smartphone that Obama wants more than the Blackberry, then the heck with "buying American" (which doesn't mean anything anymore anyway).

Who exactly would it be a "disaster" for? An american company even when outsourcing their manufacturing would still provide more jobs to americans than a foreign company. And yeah, buying american should still have a meaning. This "globalization" which served to weaken american workers is part of the problem for the terrible economy. Where is this guy coming from?
Of course you have to be careful so that you don't have a GM abusing their market share but countries should strive to have more local industries.

 

[Random.Capital]

No economy can run a perpetual trade deficit and survive. If acknowledging and acting on that basic fact is somehow "protectionism", so be it, survival trumps ideology.

 

[tmarket]

Quote from Rocko1:

From Silicon Alley Insider, Jan. 9, 2009:

No risk of protectionism in the Obama Administration, apparently. The President Elect is happily providing an estimated $50 million of marketing support for...Canadian company Research in Motion (RIMM).

Apparently they pull this 'news' and $50 million out of a hat or may be their as* :

President-elect Barack Obama has repeatedly said how much his BlackBerry means to him and how he is dreading the prospect of being forced to give it up, because of legal and security concerns, once he takes office.

“I’m still clinging to my BlackBerry,” Mr. Obama said Wednesday in an interview with CNBC and The New York Times. “They’re going to pry it out of my hands.”

What could the “BlackBerry president” charge for his plugs of the device if he were not a public servant? More than $25 million, marketing experts say, and maybe as much as $50 million.

I guessed George W Bush going to the Bejing Olympics is worth a couple of $$$ billion to the Chinese.

 

[Rocko1]

Quote from Rocko1:

Summary:

Obama gives support, marketing a Canadian company RIMM.

link
http://finance.yahoo.com/tech-ticke...an"?tickers=RIMM,^IXIC,GOOG,AAPL,PALM,GM,^DJI

Posted Jan 09, 2009 05:29pm EST by Henry Blodget in Investing,

From Silicon Alley Insider, Jan. 9, 2009:

No risk of protectionism in the Obama Administration, apparently. The President Elect is happily providing an estimated $50 million of marketing support for...Canadian company Research in Motion (RIMM).

I didn't bother reading the whole article the first time. Just realized that it's heavily biased toward Obama, either way the intentional or genuine ignorance sickens me.