A new kind of Mexican immigrant is making it big in the United States: huge Mexican corporations that are snapping up U.S. brand names, opening U.S. factories and investing millions of pesos north of the border.
From Thomas' English muffins to Borden milk, Saks Fifth Avenue department stores to the New York Times newspaper, Mexican investors have taken advantage of low interest rates and depressed prices during the economic crisis to quietly expand their holdings in "el norte."New investment in the United States by Mexican companies rose to
nearly $8 billion in 2008 from $3.6 billion in 2005, according to the latest statistics from the U.S. Department of Commerce.
Mexican companies employ about 59,000 people in the United States. "These companies show we're not just a bunch of uneducated migrants," said Jorge Smeke, a business professor at Iberoamerican University in Mexico City. "Clearly, there are Mexican investments (in the United States) that are creating jobs." READ FULL STORY