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Trump Says Broadcom Is Moving Headquarters To US From Singapore (bloomberg.com)
An anonymous reader quotes a report from Bloomberg: President Donald Trump said semiconductor company Broadcom Ltd. is returning its headquarters to the U.S. from Singapore. Broadcom Chief Executive Officer Hock Tan joined Trump Thursday in the Oval Office for the announcement. Tan said the move to domicile the company in the U.S. would bring $20 billion in revenue into the country. The two men didn't specify the site of the new main location. Broadcom's website lists San Jose, California, as an existing corporate co-headquarters and has done so since the present company was created in 2016 in one of the semiconductor industry's largest acquisitions when Avago Technologies Ltd. acquired then-Broadcom Corp. The company's shares declined as much as 4 percent to $248.87 after the announcement. The stock had gained 47 percent this year through Wednesday's close.
Yeah, we should all know better by now.
The funniest part was the bit about the stock prices. Not just the hilarious and unclear description of the price gyrations, but the insane underlying assumption that the stock prices have any linkage to reality. Today's stock prices are only linked to the fantasy of selling the shares at a higher price, with NO relation to the underlying realities of the property that is supposedly owned by the shares. Actually, most of the shares these years are for fake entities that are just holding companies for random bags of other companies, with a few real companies somewhere at the bottom. Some of the real companies may be producing real products or real services, but most of them are producing illusions like the value of Apple's latest and greatest and most profitable iPhone.
Remember there is no gawd but profit, and Apple is gawd's chief prophet.
That's according to Forbes for 2016. The rest of the top 10 include Gilead, Alphabet (AKA the google), Exxon, and some huge gamblers (AKA financial speculators playing games with other people's money and having socialized loss insurance since they're now "too big to fail" (assuming the federal government is still big enough to bail them out when they do fail again)).
Me? I think we should have tax policies designed to increase freedom. Make companies smaller so we can have smaller government. Make companies smaller so we have more choice and freedom. Make companies smaller so they have smaller profits! Oh, wait. I forgot profit is gawd.
Freedom = (Meaningful - Coerced) Choice != (Speech | Beer^2), and sad sock puppets' bad mods avail them naught.
Twitler says a lot of things. 90% of what he's said has ended up being lies. But he called Cruz "Lying Ted." It it wasn't so sad it'd be funny.
But you Regressivetards will keep defending him no matter what. I know you'll stand by your principles and not buy health care for yourself under the ACA when you get cancer or something similarly serious.
More American job opportunities for engineers is great news.
That is not what this is about. This is just a legal change. Maybe a folder will move from one filing cabinet to another. The company is already "co-headquartered" in both Singapore and San Jose. The CEO is not likely to move, and it is possible no one else will either. Technical jobs are the least likely to move.
All that is changing is that the company will be registered in America instead of Singapore. They will pay higher taxes, but have an easier time with acquisitions. The CEO apparently thought that was a good tradeoff. The shareholders apparently thought otherwise, thus the sell off. CEOs tend to like acquisitions because it makes their companies bigger and activates the primitive "hunter" instincts in their brains as they seek out "prey". But they are usually bad deals for the shareholders of the acquiring company.