Impact of global crisis on Mexican multinationals varies by industry, survey finds

The Institute for Economic Research (IIEc) of the National Autonomous University of Mexico (UNAM) and the Vale Columbia Center on Sustainable International Investment (VCC), a joint initiative of the Columbia Law School and the Earth Institute at Columbia University in New York, are releasing the results of their second annual survey of Mexican multinationals today.1 The survey is part of a long-term study of the rapid global expansion of the multinational enterprises of emerging markets. The present report focuses on data for the year 2009. Highlights In 2009, the 20 companies listed in table 1 below posted about USD 117 billion in foreign assets, 63 billion in foreign sales, and had 227,484 employees in their overseas operations. The top three companies on the list are CEMEX, America Movil, and Carso Global Telecom, which together controlled USD 86 billion in foreign assets, which was 73% of the total on the list. The leading sectors on the list are food and beverages (4 firms), non-metallic minerals (4 firms), and telecommunications (2 firms). In keeping with the tradition in Mexican outward foreign direct investment (FDI), most of the investments were undertaken in Latin America and the Caribbean and in North America −specifically the United States-. These regions were followed in importance by Western Europe. Mexican outward FDI has now also begun to appear in China, India, and Australia. The shares of all companies ranked in table 1 are publicly traded, with the exception of PEMEX, which is 100% state-owned, and Xignux, which is a privately held family-owned firm

Striving to overcome the economic crisis: Progress and diversification of Mexican multinationals’ export of capital

The Institute for Economic Research (IIEc) of the National Autonomous University of Mexico (UNAM) and the Vale Columbia Center on Sustainable International Investment (VCC), a joint initiative of the Columbia Law School and the Earth Institute at Columbia University in New York, are releasing the results of their third survey of Mexican multinationals today. The survey is part of a long-term study of the rapid global expansion of multinational enterprises (MNEs) from emerging markets. The present report focuses on data for the year 2010. Highlights In 2010, the top 20 Mexican MNEs had foreign assets of USDD 123 billion (table 1 below), foreign sales of USDD 71 billion, and employed 255,340 people abroad (see annex table 1 in annex I). The top two firms, America Movil and CEMEX, together controlled USDD 85 billion in foreign assets, accounting for nearly 70% of the assets on the list. The top four firms (including FEMSA and Grupo Mexico) jointly held USDD 104 billion, which represents almost 85% of the list’s foreign assets. Leading industries in this ranking, by numbers of MNEs, are non-metallic minerals (four companies) and food and beverages (another four companies). All but two of the 20 are firms whose shares are traded on a stock exchange. The exceptions are PEMEX, Mexico’s fully state-owned oil and gas firm, and Xignux, a diversified family-owned enterprise. The top 20 MNEs had 223 foreign affiliates (branches, subsidiaries, et al). As with their counterparts elsewhere in Latin America, Mexican MNEs show a very strong regional orientation. As annex table 2 makes clear, the top 20 overwhelmingly prefer to invest in Latin America. The next region of choice, with a substantial presence of Mexican affiliates, is North America. Europe (mainly the European Union) is a somewhat distant third. The presence of Mexican MNEs in Asia seems to be growing, if slow. In 2008, four of them had affiliates in Asia; in 2010, seven did

On Infravacua and the Localisation of Sectors

A certain class of superselection sectors of the free massless scalar field in 3 space dimensions is considered. It is shown that these sectors, which cannot be localised with respect to the vacuum, acquire a much better localisation, namely in spacelike cones, when viewed in front of suitable ``infravacuum'' backgrounds. These background states coincide, essentially, with a class of states introduced by Kraus, Polley and Reents as models for clouds of infrared radiation.Comment: LaTeX, 18 pages, minor corrections in order to conform with published versio

On Infravacua and Superselection Theory

In the DHR theory of superselection sectors, one usually considers states which are local excitations of some vacuum state. Here, we extend this analysis to local excitations of a class of "infravacuum" states appearing in models with massless particles. We show that the corresponding superselection structure, the statistics of superselection sectors and the energy-momentum spectrum are the same as with respect to the vacuum state. (The latter result is obtained with a novel method of expressing the shape of the spectrum in terms of properties of local charge transfer cocycles.) These findings provide evidence to the effect that infravacua are a natural starting point for the analysis of the superselection structure in theories with long-range forces.Comment: LaTeX, 18 pages, spelling errors correcte

Grupos empresariales: expansión y poder

La característica más importante que diferencia la expansión actual de los grupos industriales con la de los años setenta, radica en que hoy lo hacen con recursos propios en vez de fincarla en recursos crediticios externos. Una segunda característica radica en la evidencia de una relación económica y política distinta para con el Estado y favorable hacia el gran capital privado. La tercera singularidad está en el tipo de expansión actual que tiende a rebasar los límites nacionales debido a las nuevas condiciones de reestructuración de la economía en su conjunto

Cyclostratigraphy And Sedimentation Of The Cenomanian-Turonian Tuscaloosa Marine Shale

A cyclostratigraphic and geochemical analysis was conducted on the basal high resistivity zone of the Tuscaloosa Marine Shale to determine if orbital forcing is apparent in mineralogical data suites. Geochemical data suites obtained via x-ray diffraction from five cored wells located near the southern Mississippi/Louisiana border were used in the study. The results were used in concert with previously published insolation and biostratigraphic data and unpublished stable carbon isotope data to determine sedimentation rate, to identify and correlate the cretaceous oceanic anoxic event 2 (OAE 2) recovery period within the studied interval, and to determine the possible mechanisms of orbital forcing. Results from multitaper spectral analysis and average spectral misfit reveal multiple statistically significant stratigraphic frequencies in four of the five studied wells, as well as significant correlation to orbital cyclicity (p\u3c\u3c 0.05). Sedimentation rates range from 8.811 cm/ky to 12.321 cm/ky and average 10.332 cm/ky. Toc and resistivity values were used to correlate the oae 2 recovery interval between the studied wells. Calculated durations range from 212 ky in the most distal well location to 251 ky in more proximal locations. The published insolation and unpublished stable carbon isotope data were used to anchor the time scale based on the terminus of OAE 2 at approximately 94 ma. Based on geochemical proxies, it is proposed that variations in insolation and the hydrologic cycle drove cyclic sedimentation by varying primary productivity and continental weathering

A follow-up study of the business graduates of the classes of 1945, 1946, and 1947 of the Roger Ludlowe High School, Fairfield Connecticut

Thesis (Ed.M.)--Boston Universit

Analysis of static forces in end milling of Toolox® 44

With the development of the industrial sector, the constant necessity to improve manufacturing processes and reduce production time while delivering higher quality products calls for engineers and researchers to develop new materials and alloys. This new material with improved conditions requires testing, analysis and validation of their properties and characteristics, as well as their performance and machinability. The purpose of this paper is to analyze and evaluate the active and passive static forces in dry and flood lubrication-assisted end milling of Toolox® 44 with different cutting conditions. An experiment using 3-factor Box Behnken design with three controllable cutting parameters (cutting speed, axial depth of cut, feed per tooth) was used to evaluate their influence on the measured forces. The analysis of variance showed that ap was the most significant parameter. Multivariate regression analysis for parameter optimization suggests that for dry cutting, the lowest active and passive forces are obtain with vc = 90.70 m/min, fz = 0.05 mm/tooth and ap = 0.40 mm. The best results for flood-lubricated milling are obtained with vc= 91.51 m/min, fz = 0.05 mm/tooth and ap = 0.46 mm

Emerging Market Global Players 2017. The Uneven Trends of Mexican MNEs: Between sluggishness and strength in the international markets

The Institute for Economic Research (IIEc) of the National Autonomous University of Mexico (UNAM) and the Columbia Center on Sustainable Investment (CCSI), a joint center of Columbia Law School and the Earth Institute at Columbia University in New York, are releasing the results of their sixth survey of Mexican multinationals today.1 The survey, conducted during 2017, is part of a long-term study of the rapid global expansion of multinational enterprises (MNEs) from emerging markets.2 The present report focuses on data for year 2015

Es diferenciado el impacto de la crisis en las multinacionales mexicanas, según los resultados de una investigación internacional conjunta

El Instituto de Investigaciones Económicas (IIEc) de la Universidad Nacional Autónoma de México (UNAM) y el Vale Columbia Center on Sustainable International Investment (VCC), una iniciativa conjunta entre Columbia Law School y The Earth Institute, de la Universidad de Columbia en Nueva York, publican hoy los resultados de su segunda encuesta anual sobre las empresas multinacionales de México . La encuesta forma parte de un estudio de largo plazo acerca de la rápida expansión global de las empresas multinacionales de las economías emergentes. El presente informe se centra en los datos para el 2009. Aspectos destacados del informe Este año las 20 empresas del ranking listadas en el cuadro 1 suman USD 117 billones de activos foráneos, USD 63 billones de ventas foráneas y 227,484 empleados en el extranjero. Las tres empresas que encabezan la lista son CEMEX, América Móvil y Carso Global Telecom que controlan USD 86 billones de activos foráneos representando el 73% del total. Los sectores en los que se ubica el mayor número de empresas del ranking son: bebidas y alimentos (4 firmas), minerales no metálicos (4 firmas) y telecomunicaciones (2 firmas). Continuando con la tendencia tradicional de la inversión extranjera directa (IED) mexicana, la mayor parte de ésta fue realizada en Latinoamérica y el Caribe y en Norteamérica (específicamente en EU). Les sigue en importancia Europa Occidental y ha comenzado a aparecer en China, India y Australia. Las acciones de todas las empresas del ranking se negocian en la bolsa de valores con la excepción de PEMEX que es 100% de propiedad estatal y de Xignux