Mobil Corp., the largest U.S. holdout in South Africa, may have bowed to political and financial pressure to disinvest its holdings at fire-sale prices after 90 years of doing business in that country, published reports said Wednesday.
We know for certain that the U.S. did not disinvest, did not suffer declining productivity growth, did not become uncompetitive, did not create primarily dead-end, low-skilled jobs and did not experience declining real family income in the 1980s.
It was 25% of his business and, based on assurances from Ford that it wouldn't disinvest, he had just built a new factory.