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Foxconn Says It Will Build Wisconsin Factory After All (cbsnews.com)
Citing a phone conversation with President Trump, Foxconn said it will proceed with plans to build a government-subsidized plant in Wisconsin to make liquid crystal display screens. The news capped a week of reversals about the Taiwanese company's plans in the state. CBS News reports: Foxconn drew headlines in 2017 when it said the company would invest $10 billion in Wisconsin and hire 13,000 people to build a factory to make screens for televisions and other devices. State leaders offered nearly $4 billion in tax incentives to help seal the deal. Last year Foxconn said it would reduce the scale of the factory from what is known as a "Gen 10" factory to "Gen 6". But this week, Foxconn executive Louis Woo seemed to move away from a factory altogether, saying the company couldn't compete in the TV screen market and would not be making LCD panels in Wisconsin.
On Friday, in yet another twist, Foxconn said that, after discussions with the White House and a personal conversation between Mr. Trump and Foxconn chairman Terry Gou, it will proceed with the smaller manufacturing facility. Woo told Reuters earlier this week that about three-quarters of workers in Wisconsin would be in research and development, not manufacturing, and that the facility would be more of a research hub. Foxconn, the world's largest electronics company, said Friday the campus would house both an advanced manufacturing facility and a center of "technology innovation for the region."
On Friday, in yet another twist, Foxconn said that, after discussions with the White House and a personal conversation between Mr. Trump and Foxconn chairman Terry Gou, it will proceed with the smaller manufacturing facility. Woo told Reuters earlier this week that about three-quarters of workers in Wisconsin would be in research and development, not manufacturing, and that the facility would be more of a research hub. Foxconn, the world's largest electronics company, said Friday the campus would house both an advanced manufacturing facility and a center of "technology innovation for the region."
This is nothing but expensive fluff for Wisconsin taxpayers. They should nix Foxconn and just give the money directly to those a factory would create jobs for... as the workers would each get a lot more money.
Wisconsin?
Some form of high tech booze? Perhaps an autonomous glass, that keeps pouring it down you, after you (pass out/puke/piss yourself)?
John McAfee 'It was like that time I hired that Bangkok prostitute; to do my taxes, while I fucked my accountant'
I-94 to be tolled in 202x?
13,000 more minimum wage jobs... Just what WI needs.
Unless you got that shit in writing, you honestly expect a corporation to actually do what they promise?
If you are stupid enough to give away $4 billion in incentives without a fairly detailed agreement, you're too stupid to be in the position of offering $4 billion in incentives in the first place.
Surely they have a written agreement with penalties spelled out, right?
Or have they just played everyone?
Oh look, it's mr "I haven't picked up a book since I barely graduated highschool" wanting a nice high-paying engineering job. #learn2code
You want to #MAGA, grind all those people up for dog food so they provide at least some meager benefit to society
reduce their tax credits by $500 Million.
All Hail Herr Trump!!!!
Celebrated a little too soon, huh? Your President Trump wins again. Of course, it's a little questionable how happy you anti-American scum gets whenever billion dollar business deals get cancelled and thousands of Americans lose their jobs.
Suddenly Foxconn has determined it will be profitable to staff an Asian sweatshop with Americans? I don't think so.
Suck it, libs.
So, Foxconn says "hey, we can't really afford to manufacture in the US, so we'll just make it an R&D center instead, with MUCH MORE HIGHLY PAYING JOBS for engineers, scientists, and we'll do some low-level assembly too for the blue collar folks."
Which was, in all honesty, a MUCH better deal for Wisconsin.
And of course, Trump, not to be outdone in his quest to destroy America, swoops in and convinces them to do those high-paying engineering jobs somewhere else, and go back to the plan of dead end manufacturing jobs that will disappear the moment the tax abatements do.
Nice job you fucking cheeto-faced piece of shit.
Look at Foxconn's track record in other countries to see how this will all shake out in the end. They promise the world to get tax breaks and incentives and invariably scale back during the actual build and startup.
Right now there's a media firestorm and even Trump got dragged into it again so of course Foxconn can say they'll do the full factory to calm everything down, even though last week they were saying there's no profit to building LCD panels in the US. Talk. Is. Cheap. Let's wait and see what they actually end up doing. I bet it won't be anything close to what the talk promised. Just like in Brazil and Indonesia.
13,000 minimum wage jobs is better than none at all.
I guess so, if you want to use Third World country standards.
There's nothing like working a crap low paying job with no health insurance, hours that change weekly and asking for any time off for any reason means you are replaced. Everyday is a struggle. Especially when you have to work two or more jobs.
And then you're told "At last it's a job!"
And then you have asshole billioniares rubbing it in our faces and telling people to "just work harder!" while they continue to eliminate opportunities. Even in tech, there are nowhere near the opportunities available when I started.
Billionaires send work overseas and tell us to be thankful we even have a job.
Leftists aren't born; they're created by asshole billionaires.
If you read the actual announcement is says.
Foxconn announced today the Trump is a gullible chump and will beleive anything that appeals to his vanity. So were just going to wait out his impeachment or the next election with some bullshit he'll glup down. Then back to plan A. Stupid trump! fool fool fool. #Trumptard
i wonder how much the American people will have to pay this time to cover up Trump's embarrassing failure at deal-making?
but you nailed it.
What part of foxy and con does il Cheeto not understand. Probably all of it.
Some drink at the fountain of knowledge. Others just gargle.
but you nailed it.
They're just running out the Trump clock here...
What if I do not like the deal maker,oh well.
4 billion, divided by 13,000 employees is $307,692 per employee.
At $15/hr, that's 20,513 hours of wages
At 2080 work hrs per year that's a smidge under 10 years
So we're giving them tax breaks to make products and the tax breaks are as much as the factory would pay local labor over a 10 year period?
As Rick Sanchez might day: "That sounds like welfare but with extra steps"
Warning: Teh poster of this messaeg is lysdexic
Har har har! You add no value or content and make no pint but NPC echo chamber likes!
Me like too because Orange Man Bad!!
It is based in Taiwan. Big difference.
They didn't say they'll build the factory after all, what they said was, "After Trump called us, we made a face-saving deal with him where we'll build a token R&D facility and we'll probably give his companies some kick-backs and he'll work to make us better able to exploit workers and the environment by curtailing regulations illegally." Trump is a criminal. The people should have his head on a pole before all is said and done. He is selling out America. You fools who support him are a bunch of cucks! Just like the cucks supporting the Dems and LGBTQFemi-Terrorists who are selling out YOUR country. You damn fools. Keep sucking his dick. Keep licking the assholes of power and your children and grandchildren will be sex-slaves to the Chinese, Middle Easterners, and Russians. You fucking worthless cowards. Keep on dick sucking. Faggots!
Orange man stupid!!!
"You say either and I say eyether
You say neither and I say nyther;
Either, eyether, neither, nyther
Let's call the whole thing off!
You like potato and I like potatoe
You like tomato and I like tomatoe;
Potato, potatoe, tomato, tomatoe!
Let's call the whole thing off!"
Apologies to George Gershwin, Ella Fitzgerald, Fred Astaire, and innumerable others.
Foxconn (con?) has a history of making grand job pronouncements only to later scale back of evaporate altogether. I'll believe that they'll build this LCD factory only when it is done and up and running. I feel bad for Wisconsin citizens, they were sold a bill of goods (jobs, prosperity) by corrupt politicians and greedy companies.
If Trump is involved, that's pretty much the Tell that this project is doomed. Trump announces victory and everything falls apart.
I mean, it might have been doomed all along; there have been questions about the size and appropriateness of the tax incentives right from the beginning. Trump is really just the icing on the cake.
Trump's Seal of Approval is more like the Gong of Doom.
"Bring out yer dead! Gong! Bring out yer dead! Gong!"
Speaking of investments, guys, can anyone help me to figure out a good p2p lending strategy? It's a new investment tool for me and it's always quite hard to figure things out at the very beginning?