Samsung Washington Monument

Posted by Arudam Alpha | 8:51 PM | | 0 comments »

With the slumping domestic demand, exports (from 15.5 percent in March) is to get the economy afloat. So big is the demand for American products, thanks to the weak dollar, shippers are complaining that there is a shortage of empty containers. The exports of a product, do not have to be packed into seagoing containers are also becoming more. Naming rights for universities, libraries and sports teams has always been an important source of income for the prestigious outfits. The status-hungry rich people and businesses will pay top U.S. dollars to connect their name with a prestigious location or organization. In March, Stephen Schwarzman of the Blackstone Group donated 100 million dollars on the New York Public Library, in exchange for the fact that Midtown Manhattan landmark renamed him. (Lion statues outside will retain their own name.)

As the geography of global prosperity quickly shift to a wealthy American institutions are suddenly poorer and impressive bulging pockets of wealth around the planet-naming rights have quickly developed into an important export. The trend is most evident in the sport. Last year, Barclays PLC, the large British bank, paid a reported $ 400 million, as part of an agreement with the New Jersey Nets, where the arena naming rights for the Frank Gehry is designing the team in downtown Brooklyn.

Other interesting expressions can be seen in the groves of academe, where industrialists, financiers and businesses each year swap billion in cash for prestige. While the American brand can be spotted in foreign policy (Iraq), economic management (subprime), and even basketball (2004 Olympics), "U.S. higher education still has a number of international brand," says Peter Frumkin, professor of public affairs at the University of Texas. "People love their names associated with leading research universities." This was the case for the 19-century steel magnates like Andrew Carnegie. And it is true of the 21-century steel magnates. The Brazilian firm Vale, the world's second largest iron ore mines, has a huge market capitalization of about $ 180 billion, but a low public profile in America. At the end of april, Vale announced it was establishing the Vale Columbia Centre for Sustainable international investments at Columbia University, "to promote learning, education, policy research and practical work in the field of foreign direct investment ( FDI). " In return for providing a foreign direct investment of $ 1.5 million, Vale will have his name on an Ivy League institution, and its leaders to rub shoulders with the bigwigs such as Jeffrey Sachs, director of Columbia's Earth Institute.