American Outlook

I am not worried about rich Arabs; it’s the French who worry me.” This was the response from a businessman in Clovis, California, reacting to my comment that the U.S. government was concerned about the influence of foreign-owned sovereign wealth funds.

“Why are you worried about the French?” I asked.

“They just bought the largest company here,” he replied. “Life will now change for all of us—that company has been an important part of this community for years.” He was referring to Pelco, a Clovis-based manufacturer of video security systems that was recently acquired by Schneider Electric, a French company.

A movement to fend off a proposed takeover of US beermaker Anheuser-Busch by Belgian-Brazilian InBev gained momentum Thursday as Missouri's governor voiced concern and opponents launched online petitions.

Governor Matt Blunt said in a statement late Wednesday that he found the news of the 46-billion-dollar bid "deeply troubling."

"Anheuser-Busch is a great Missouri company, a great employer, a great corporate citizen and the maker of great products that are enjoyed in Missouri and around the world," he said. "I am strongly opposed to the sale of Anheuser-Busch."

Blunt noted that "there is no immediate tool available at the state level" to block the sale.

But he ordered the state's Department of Economic Development "to explore every option and any opportunity we may have at the state level to help keep Anheuser-Busch where it belongs -- in St. Louis, Missouri."