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Foxconn Is Reconsidering Plan For Wisconsin Factory (cnn.com)
An anonymous reader quotes a report from The New York Times: Foxconn, the giant Taiwan-based company that announced plans for a $10 billion display-making factory in Wisconsin, now says it is rethinking the project's focus because of "new realities" in the global marketplace (Warning source may be paywalled; alternative source). The company said Wednesday that it remained committed to creating as many as 13,000 jobs in Wisconsin, and continued to "actively consider opportunities" involving flat-screen technology. But it said it was also "examining ways for Wisconsin's knowledge workers to promote research and development." "The global market environment that existed when the project was first announced has changed," Foxconn said in a statement. "As our plans are driven by those of our customers, this has necessitated the adjustment of plans for all projects, including Wisconsin." But the company said its presence in Wisconsin remained a priority, and said it was "broadening the base of our investment" there. The statement followed a Reuters report quoting Louis Woo, a special assistant to Foxconn's chairman, Terry Gou, as saying that the costs of manufacturing screens for televisions and other consumer products are too high in the United States. "In terms of TV, we have no place in the U.S.," Mr. Woo told Reuters. "We can't compete." Some Wisconsin Republicans blamed the company's change in plans on the election of Gov. Tony Evers, a Democrat, to succeed Mr. Walker, a Republican, in November. In a joint statement, Assembly Speaker Robin Vos and the Senate majority leader, Scott Fitzgerald, said it was "not surprising Foxconn would rethink building a manufacturing plant in Wisconsin under the Evers administration." The lawmakers added: "The company is reacting to the wave of economic uncertainty that the new governor has brought with his administration."
Except for 13,000 people paying taxes, I'm sure that doesn't bring any money in. Corporations are good at not paying any taxes out, regardless of any 'breaks' they get. Tax breaks are just PR stunts for politicians, what really makes a company stay or go is whether or not the government is good towards business, having a government hell bent on a takeover of private industry is not good for the trust of companies, you see that in places like Venezuela. Government hell bent on sucking dry corporations through legislation, overburdening regulation is likewise bad for business.
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How is that news? The "other guy" or the "other party" is always to blame for every unpleasant event. Politicians point fingers out of reflex.
Table-ized A.I.
Pro tip: If anyone tells you they 'might generate up to' something, it will never happen. Doesn't matter if it's a person or corporation, telling you this about jobs, cash in your pocket, pounds of cheese. It is not going to happen.
he got exactly what he wanted out of the deal: a political prop to use for winning the 2016 election. A fair trade for a bunch of tax dollars collected mostly from working class Americans.
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See title.
Yes, Trump got played like a baby by Foxconn. They roped him like a baby calf and he was more than happy to buy their ridiculous claims.
Despite the article saying specifically that it was the election of a Democrat that changed their mind?
Regarding the Trump thing, you're complaining about something that doesn't go our way in the middle of the situation. The right time to pass judgement is when it's all over, when the dust has settled, and when we can evaluate whether minor setbacks in the middle were worth the overall outcome.
Similar with the N. Korea peace negotiations. These things take time, there will be some back and forth, and possibly nothing will come of it... but now is not the time to make judgement. Let the situation play out, and *then* figure out whether we are better off. At the very least, the president talked us out of a nuclear war.
State governments giving away billions in tax benefits is arguably a bad idea. How long would it take for 13,000 additional labor-jobs to be worth the loss of $3 billion in tax credits? Even if you account for add-on benefits to the economy, it would take decades... and depending on inflation and other details, the deal might possibly never be revenue neutral.
We really don't know at this point whether this is good or bad for the US, and the tendency to blame Trump for every little thing that irks you in the country is tedious as hell.
Grow up, set your hatred aside, and post something insightful for a change.
No, the article did not say it was because a Democrat got elected. It said the REPUBLICANS said that was why.
"Republicans who control Wisconsin’s Legislature suggested that the arrival of Gov. Tony Evers, the Democrat who ousted Mr. Walker, was partly to blame."
The key thing is estimating how much more money the state was going to get if Foxconn had come than if they had not come. If that's larger than the incentive, it's a good investment. If not, perhaps the money should have gone elsewhere. By these criteria, these kinds of tax incentives are basically *never* worthwhile -- there has been a decent amount of research on this point. I haven't studied this particular deal in detail, but it would surprise me if it were the shining exception.
Similar with the N. Korea peace negotiations. These things take time, there will be some back and forth, and possibly nothing will come of it... but now is not the time to make judgement. Let the situation play out, and *then* figure out whether we are better off. At the very least, the president talked us out of a nuclear war.
HAHA, as if Trump talked you out of a nuclear war.
NK would never launch a nuclear weapon unless it was first attacked by the South and/or the US.
If they made the first strike the nuke card would be played and NK would be turned to ash by retaliatory attacks.
It's like the BS that Trump is pushing that NK is going to give up its nukes, why the hell would they? If they did then they will have lost their only bargaining chip and the rest of the world would just go back to ignoring NK.
NK doesn't want to attack anyone with their nukes, they just want to ensure the longevity of the regime, and nukes give them that power.
Trump was played yet again.
"We need both parties brought to heel, and perhaps a few more contenders in the mix"
Nope. Third party candidates have zero chance to get elected, and they just confuse the issue. Political parties were never mentioned in the Constitution because they were seen as a plague, but just giving up on regulating them was a total failure which should immediately and conclusively put paid to the rumors of the founders' genius. At this point the only way we'll get a credible third party is if there's sufficient schism within one of the major parties that it splits in two, but thanks to partisan dumbshits in voting booths, that would all but guarantee a win for the other side. Sadly, the only party that might actually split would be the Democrats. The Republicans have demonstrated time and again that they are united in screwing over the nation, and the Democrats have ultimately proven that they are disconnected and thus ineffectual. The Republicans hang together, and the rest of us twist in the wind.
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The GOP in Wisconsin did everything they could to undermine democracy and the will of the voters. However it was abundantly clear before the election that Walker's deal with Foxconn was all but dead regardless of how the election were to go; now that we see that reality coming to bear they are quick to lay blame at the feet of the opposition that has had no opportunity yet to do anything about it.
It's no surprise that the conservative voice here on drudgedot couldn't pass on including the GOP opinion on the matter.
Damn_registrars has no butt-hole. Damn_registrars has no use for a butt-hole.
It's also a deal that was never going to happen:
Day 1: We're pleased to announce the gazillion-dollar factory we're building.
Day 100: We're investigating the possibilities.
Day 200: We're still planning to go ahead, just on a smaller scale.
Day 300: We're looking at the long-term strategic position and may be deferring for a few years.
Day 400: We're reevaluating our plans, but still want to go ahead.
Day 500: We have a strong commitment to this factory, but perhaps on a smaller scale.
Day 600: We've carried out another study and think we can still proceed with a smaller factory.
Day 700: We're still considering the issue.
Day 800: We think we can make it happen, but perhaps as a facility to do final assembly on stuff we import from Taiwan or PRC.
Day 900: We're looking at having an assembly facility there.
Day 1000: OK, the Americans have finally forgotten about it, time to quietly bury it.
Foxconn played along because they were being strongarmed, not because they really wanted to build a gazillion-dollar factory there. So blaming the new governor is rather disingenous, it would have fizzled no matter who was in power.
I believe the real fear of NK is that these nuclear developments will be exported either purposefully or "accidentally" to radical groups.
Not that NK will launch a first strike itself, but will provide the means for other groups to initiate global carnage.
Foxconn Is Reconsidering Plan For Wisconsin Factory
Not to fall on a "No True Scotsman" fallacy, but c'mon, anyone with half a brain knew this deal was crap. Only gullible yokels would fall for this mendacious nincompoopery (who keep voting against their own interests in favor for oilsnake peddlers who sell them this shit.) OMG ME BUBBAH GUNNA GIT MAH JAWB, WINNING LUK HER UP! (But you know who actually had actual economic plans for Flyover Country? HR-fucking-C, but whatever, reap what you sow.)
LOW. VALUE. ADDED. MANUFACTURING. AIN'T. GONNA. FUCKING. COME. BACK. EVER.
A sucker is made every minute. I can sympathize with an illiterate peasant in a 3rd world country not having the means to discern the fallacious nature of such promises.
But people in the richest nation the world had ever seen, with public education available for free all the way to HS, and in the 21st century, with access to the damned Internet. Nah, you fall for this shit, you are systemically on par with the Dodos in "Ice Age."
As a German friend of mine once said about why he moved to the US. In Europe there is a left, a far left, and an even further left.
Doubtful. If the weapon traced back to North Korea, then it would be treated as a first strike by North Korea. And it's not feasible to export a nuclear weapon without someone else detecting it.
Kim wants nukes to keep himself alive. Exporting nukes does not accomplish this goal. Nor does shutting down his nuclear weapons facilities.