Germany top place in Europe to do business, say US firms
It is the first time Europe's powerhouse has topped the poll since it began in 2004.
Berlin -- American firms have ranked Germany as the top place in Europe to do business, according to a study.The study of 61 top American companies, including Microsoft, Nike and McDonalds, also placed Germany ahead of Eastern Europe, Britain, France and Spain. It is the first time Europe's powerhouse has topped the poll since it began in 2004. The Boston Consulting Group published the poll earlier this week. "Because clients are demanding more security in these troubled times, companies are placing particular emphasis on high quality products and processes,” said BCG's head in Germany, Christian Veith. “This is what you find in Germany." Fred B. Irwin, president of the American Chamber of Commerce in Germany, which commissioned the study, said Germany's strengths outweighed its perceived weaknesses -- high labor costs, tax burdens and low economic growth.The research also revealed that American companies are pinning their hopes on improved transatlantic relations in the wake of Barack Obama becoming president last month.A huge majority (86 percent) said American-German economic relations would improve, with only 14 percent believing they would stay the same. Not a single firm surveyed said economic ties would deteriorate under an Obama administration.Nevertheless, the financial crisis has undoubtedly affected the corporate mood. Nearly half (41 percent) said they would reduce their workforce in Germany in 2009, compared to 16 percent in 2008.However, one third of US firms said they intended to increase their investment in Germany in 2009, with 17 percent predicting a reduction. Around half (51 percent) said investment levels would not change.Businesses said they felt less buffeted by the financial crisis in Germany than in other locations."Our members have assured us that Germany is still an especially attractive market because of its relatively stable housing market, high purchasing power and low household debt," Irwin said.But the companies also said they would like to see a greater number of well-qualified graduates emerging from German schools and universities. Engineers are especially hard to find, the poll showed.The 61 firms surveyed have a combined turnover of 110 billion euros (143 billion dollars) and employ 250,000 people in Germany, the survey said.
Thursday, February 19, 2009
America
2007/2008 Top 50 Ranking of German Firms in the U.S
Resilient Growth despite Economic Gloom, Biggest Winners German Grocery Stores Aldi, Trader Joe's, A&P
New York, January 22, 2009 - - The latest Top 50 Ranking of German Firms in the U.S. conducted by the German American Chambers of Commerce based on the 2007/2008 annual sales figures shows resilient growth despite the worldwide economic downturn. 68% of companies reported increasing sales, 32% showed only modest losses. Top 50 total sales went up from 240 billion USD to 276 billion USD. The TOP 50 German firms in the U.S. create 327,000 jobs. Siemens USA ranks first for the second year in a row. Even amidst its corruption crisis, the German blue chip managed to increase U.S. sales from 23 billion USD to over 27 billion USD. Siemens is also the top German employer in the U.S. creating 66,000 jobs. George Nolen, CEO of Siemens USA stays optimistic: "We believe Siemens USA is uniquely positioned as a premier provider for some of this country’s most pressing infrastructure needs in energy, healthcare and industry."
In 2007, the German car makers still performed well: BMW, Mercedes and VW all gained, only Porsche presented a slight decline. The 2008 annual figures will present a different picture; the automotive industry is hit hardest by the ongoing recession. The big chemical and pharmaceutical companies fared well with BASF, Bayer, Boehringer and Fresenius among the Top 15.
However, the biggest winners of the TOP 50 Ranking are the German discount kings Aldi and Tengelmann. Tengelmann's U.S. subsidiary The Great Atlantic and Pacific Tea Company (A&P) reported increased sales of 9.4 billion USD up from 7.0 billion USD in last year's ranking. A&P operates 450 stores throughout the United States, employing over 62,000 people and operates under the banners A&P, Waldbaum's, A&P Super Foodmart, The Food Emporium, Super Fresh, Pathmark and Food Basics. Its recent acquisition of Pathmark dented profits only slightly.
Trader Joe’s (owned by Karl Albrecht's Aldi Nord) proves hugely popular in the United States, Consumer Reports ranked Trader Joe’s the second-best supermarket chain in the nation (after Wegman's). In comparison to last year's ranking, Trader Joe's more than doubled its sales to 6.5 billion USD and increased the number of stores from 223 to 315.
Aldi, Inc. (owned by Theo Albrecht's Aldi Süd) plans to open a record number of 75 new stores in 2009 in addition to the 1,000 stores throughout the United States. Karl and Theo Albrecht's mother has been reported to say: "The worse off the people are, the better off are we" - a universal statement, it seems.
Resilient Growth despite Economic Gloom, Biggest Winners German Grocery Stores Aldi, Trader Joe's, A&P
New York, January 22, 2009 - - The latest Top 50 Ranking of German Firms in the U.S. conducted by the German American Chambers of Commerce based on the 2007/2008 annual sales figures shows resilient growth despite the worldwide economic downturn. 68% of companies reported increasing sales, 32% showed only modest losses. Top 50 total sales went up from 240 billion USD to 276 billion USD. The TOP 50 German firms in the U.S. create 327,000 jobs. Siemens USA ranks first for the second year in a row. Even amidst its corruption crisis, the German blue chip managed to increase U.S. sales from 23 billion USD to over 27 billion USD. Siemens is also the top German employer in the U.S. creating 66,000 jobs. George Nolen, CEO of Siemens USA stays optimistic: "We believe Siemens USA is uniquely positioned as a premier provider for some of this country’s most pressing infrastructure needs in energy, healthcare and industry."
In 2007, the German car makers still performed well: BMW, Mercedes and VW all gained, only Porsche presented a slight decline. The 2008 annual figures will present a different picture; the automotive industry is hit hardest by the ongoing recession. The big chemical and pharmaceutical companies fared well with BASF, Bayer, Boehringer and Fresenius among the Top 15.
However, the biggest winners of the TOP 50 Ranking are the German discount kings Aldi and Tengelmann. Tengelmann's U.S. subsidiary The Great Atlantic and Pacific Tea Company (A&P) reported increased sales of 9.4 billion USD up from 7.0 billion USD in last year's ranking. A&P operates 450 stores throughout the United States, employing over 62,000 people and operates under the banners A&P, Waldbaum's, A&P Super Foodmart, The Food Emporium, Super Fresh, Pathmark and Food Basics. Its recent acquisition of Pathmark dented profits only slightly.
Trader Joe’s (owned by Karl Albrecht's Aldi Nord) proves hugely popular in the United States, Consumer Reports ranked Trader Joe’s the second-best supermarket chain in the nation (after Wegman's). In comparison to last year's ranking, Trader Joe's more than doubled its sales to 6.5 billion USD and increased the number of stores from 223 to 315.
Aldi, Inc. (owned by Theo Albrecht's Aldi Süd) plans to open a record number of 75 new stores in 2009 in addition to the 1,000 stores throughout the United States. Karl and Theo Albrecht's mother has been reported to say: "The worse off the people are, the better off are we" - a universal statement, it seems.
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