Eighth Wonder of the World
Please note Wisconsin Says Foxconn Doesn’t Qualify for Subsidies.
Wisconsin officials have denied a request by Foxconn Technology Group for the first payments in what had been envisioned as $3 billion in state subsidies for a major technology complex President Trump hailed as the “eighth wonder of the world.”
State officials said in a letter Monday that Foxconn had failed to create enough jobs to receive subsidies in 2019 and that the scope of the project had changed so much that it must draw up a new contract to qualify for future subsidies.
The company, which is a major supplier to Apple Inc., had initially said it expected to have created 2,080 jobs at the plant by the end of 2019 and to have invested $3.3 billion, according to the WEDC [Wisconsin Economic Development Corp] Instead, the company had hired fewer than the minimum 520 required for subsidies and invested $300 million, the WEDC said.
8th Wonder vs No Wonder
It’s no wonder Trump hasn’t mentioned Foxconn recently.
End is Near
Many readers are tired of me bashing Trump. Don’t worry.
I will soon be bashing Biden more often than not.
Mish
“Many readers are tired of me bashing Trump. Don’t worry.
I will soon be bashing Biden more often than not.”
Wouldn’t expect it any other way 😁
Foxcon mainly manufactures in China. Low-end manufacturing is leaving China to south-east Asia. China is now moving up-ladder to top-end manufacturing, which is not labor but engineering-intensive. China graduates maybe 10x more engineers per year than the US does. Here is how modern factories work nowadays in China, which requires a huge number of STEM engineers, not sweat labors.
ooooooh YEAH ! The US of A is gonna be one HELL of a great place again with Trump a goner, The American Dream a reality again….evwythin gonna be jus fine post Trump…..especially when you are gullible enough, or stupid rather, to believe similar nonsense….
It’s the same old story, scammers getting scammed.
Seems like idiots run this company. If I were running it and thought the market had changed I’d be in contact with Wisconsin attempting to salvage and renegotiate the deal. This one is hard to fathom
Reminds me of Kodak
the deal is off
Foxconn was supposed to spend $3.3 billion on the project by the end of 2019. Instead, Foxconn had only spent around $300 million by the end of the year.
Foxconn was supposed to build an LCD panel factory based on the industry’s new Generation 10.5 standard. This standard uses enormous sheets of “mother glass”—roughly 10 feet (3 meters) square—to provide LCD panels for large televisions. Each glass sheet is typically cut into several displays. The factory was expected to cost $10 billion to build and eventually employ 13,000 workers in Wisconsin. The state now says that Foxconn won’t come anywhere close to meeting those targets.
Donald Trump has made it a priority to bring high-tech manufacturing jobs to the US, but the results haven’t always lived up to the hype. Last year, for example, Trump claimed to have opened an Apple manufacturing plant in Texas to build Mac Pros. In reality, Apple has been building the Mac Pro at the same location since 2013.
Results not living up to the hype is the Trump legacy.
I hope everybody realizes, Fox-con is a Taiwanese company, so no Trumps tariffs apply to it. If Trump didn’t blunder himself into it, this would be touted as the end-the-graft virtuous outcome.
The Trump trade wars definitely did affect FoxConn’s decision to build in the US, in spite of the tariffs not affecting them directly.
Do you really think building a plant in Wisconsin is good for their bottom line? They would have never agreed to it if not for Trump….just like Apple would not be building a huge campus here if he hadn’t gone after Tim Cook.
FoxConn is very much in bed with the PRC. The majority of their workforce is in mainland China.
I know where FoxConn factories are. They are not only in China, but all over Eastern Europe, too.
You can say the same about all contract manufacturing, only FoxConn is linked with Apple.
Taiwanese company with Chinese factories. Definitely a factor. Chinese wages have been going up as well. Another factor. Clearly FOXCON is as shady as Donald Trump. Not even close to living up to the deal. Wisconsin is 100% right not to honor the deal. FOXCON didn’t
“Every revolution evaporates and leaves behind only the slime of a new bureaucracy.”
― Franz Kafka
Meet the new boss, same as the old boss. — The Who, 1971
“Many readers are tired of me bashing Trump. Don’t worry.
I will soon be bashing Biden more often than not.”
Tribalists little heads will explode.
There will not be near as much bashing him. He will not do anything that you can criticize or applaud. Biden is like Jok.
Trump is awful, but electing him is better than Biden. If Biden wins, the democrats will stack the supreme court, make DC and Puerto Rico states, and eliminate the filibuster. If they succeed in doing that, they’ll take dictatorship control of the federal government.
Imagine how citizens of red states will respond. They’ll decide the federal government represents nothing they want and will take measures to separate from the nation. If the democrats can ignore immigration laws and form sanctuary cities, what will prevent red states from deciding not to enforce IRS regulations and hence exempt their citizens from paying federal taxes? They’ll make abortion illegal in their state. Ignoring anything the supreme court rules on. What will stop them from splitting Wyoming into north and south Wyoming so they can get 2 more senators? the precedent that the democrats are trying to do will have potentially enormous consequences.
The Democrats stacking the Supreme Court is extremely unlikely. If FDR couldn’t get away with it, Biden sure can’t, and he’s already said he doesn’t like the idea….he won’t completely come down against it..because of the ongoing situation with the Barrett hearings….
If PR and DC become states and it influences election outcomes in a way that favors he Democrats…that happens to be the complete OPPOSITE of dictatorship….it’s democracy, in point of fact. Democracy might not always be the best system….but that’s how democracy works. Citizens get to vote.
Eliminating the filibuster is party neutral, in the long run. It’s a procedural rule, and I’m willing to let the Senate decide on what their parliamentary rules are.
No party will endorse any citizens not paying tax if they have substantial income. Tax money is what politicians are in politics for, for the most part….to dispense tax money to themselves and their donors, through various conduit schemes.
PR and DC becoming states will clearly favor the democrats. Otherwise they would never want them added. How is making changes to assure your party stays in power in perpetuity the opposite of dictatorship? It’s the definition of dictatorship.
“How is making changes to assure your party stays in power in perpetuity the opposite of dictatorship? ”
You don’t quite get it do you? Nobody is forcing anyone to vote Democrat….if you are afraid that additions of new states would tip the scales forever…..I hate to tell you that a brown majority in this country is a statistical certainty anyway. Just a matter of time.
It does gall me that the Democratic Party leadership has bet on that so heavily….at the expense of having a coherent platform that might help the working class.
Maybe you should convince some of the people in PR and DC to vote for your party. The Republican Party would have to do something to benefit them to get their vote, however.
My party is the democratic party and I’m appalled at what they intend to do. People who wish a 2nd civil war are morons. The red have the military, food and energy in their jurisdictions. They would win easily.
Anyone who thinks only conservatives have weapons is an idiot. I live in Texas and we are ALL armed to the teeth. Civil war starts – I plan on killing a lot of people. Biden even has an edge on the military vote by about 5 percent.
I get it.
I don’t think we’re headed for a real war…but lots of civil unrest is pretty much a given, I think.
Nobody can win a civil war, really. They are always lose/lose. Being from the south, and having gone to some length to learn my own family history from the the US Civil War (which was lost completely and not passed down) …I can tell you that for my family it was a devastating event that even influences people alive today…..most of whom have no clue that’s even the case.
We need to find common ground, make sensible compromises between all these groups who are hating on each other…and learn how to live together. All of us who work for a living and pay taxes are just pawns in a game now….the power brokers and influence peddlers only considers us as useful idiots who will re-elect them every four years.
If all you have is fear driving your vote, you probably are supporting shit.
Foxxconn is a Taiwanese company…
FoxConn is a multinational company with headquarters in Taiwan…but it has a dozen plants in mainland China and employs hundreds of thousands of mainland Chinese…..and therefore they are under the influence of the PRC.Most of their planned expansion AFAIK is intended to take place in mainland China.
China plays better 4D chess than Trump.
We can all be honest, this election isn’t about Biden, it’s addition by subtraction. Biden will do his best work by avoiding doing the real work. He should go full Reagan and hire the best and brightest SMEs and let them exhibit their mastery. He should limit himself to discussing appointments, foreign relations, and the occasional American pep talk. Like anyone would really want to elect a 78 yr old if they had more than two flavors of dung to choose from for their next meal.
China never wanted to build anything here. I look for the eighth wonder to become a ghost project. Especially since Biden will probably try to walk back a lot of Trump’s tariff bs.
It’s Wisconsin. They can always turn it into a bar.
Hey I once got my ass kicked in Wisconsin!
There will be plenty to complain about with Biden…I know that. In the long run, the Democrats are so deeply flawed as to present just as much of a threat to what I believe in as Trump has been….just not quite as much of a brush-fire at the moment.
I am some kind of libertarian….but not a big L Libertarian. Not a Chomsky Left Libertarian either….libertarianism is my philosophy, but not a political party I want to join, particularly.
We need a new party that can create a center in American politics……without that we’re just headed further off the rails. I don’t know how we get that…..it seems pretty impossible.
Frankly we need a genuine Labor Party that represents the interests of everyone left out of this Monetarist nightmare.
I think that idea has plenty of merit.
3 Billion? what’s 3 Billion, can’t they just add it to the stimulus package without anyone noticing? now a hundred billion just gets thrown around as a decimal point (2.2 trillion, 1.8 trillion).
If neither one wins will you bash Nancy?