Foxconn: no Wisconsin manufacturing plant.

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gozer
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Re: Foxconn: no Wisconsin manufacturing plant.

Postby gozer » Wed Jan 30, 2019 12:15 pm

maybe the name should have been a tip-off? fox = crazy like a fox, not necessarily over-concerned with things like transparency, honour, chivalry, and generally accepted accounting principles . . . con(n) = con artist. confidence man. confidence woman. confidence trickster. "i am a damsel in distress in lagos, and the right-born queen of biafra . . . i have $40 million in the canadian imperial bank of commerce and $100m in the hypovereinsbank . . . wire me $500k within 24 hours of receiving this e-mail and i will give u half of it and u can have the ambassadorship or cabinet post of your choosing . . . "
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Last edited by gozer on Wed Jan 30, 2019 7:49 pm, edited 1 time in total.

Shorty
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Re: Foxconn: no Wisconsin manufacturing plant.

Postby Shorty » Wed Jan 30, 2019 12:53 pm

Foxconn still says they plan on 13,000 jobs and bldng a plant, just a smaller one. 13,000 scientists and engineers? Baloney.

Foxconn drops manufacturing as part of drastic rethinking of Racine campus
https://www.jsonline.com/story/money/bu ... 719132002/

Rep. Gordon Hintz, D-Oshkosh, also sits on the WEDC board and has been critical of the deal struck with Foxconn by mostly Republican lawmakers. He said the changes are "the consequence of rushed policy making and politically driven legislation."

"This news is devastating for the taxpayers of Wisconsin. We were promised manufacturing jobs. We were promised state of the art LCD production. We were promised a game changing economic opportunity for our state," Hintz said...

"In July 2017, a report by a Foxconn consultant using company data projected that about 75 percent of the 13,000 Wisconsin jobs would be held by “hourly operators and techs.” About 18 percent of the employees would be engineers, the report said.

But by late March 2018, Woo said in an interview with the Milwaukee Journal Sentinel that plans had shifted and he expected that about a third of employees “would be more like assembly line workers, but two-thirds would be the knowledge workers.”

Five months later, the workforce ratio shifted still further toward the high-skill end. Speaking to The Journal Times, of Racine, in late August, Woo said that “now it looks like about 10 percent assembly line workers, 90 percent knowledge workers.” That same day, Woo told the Milwaukee Business Journal that “at least 80 percent would be engineers or R&D scientists.”

7/2017 - 75% assembly workers 18% engineers
3/2018 - 33% assembly workers 67% knowledge workers
8/2018 - 10% assembly workers 90% knowledge workers
1/2019 - 0% assembly workers 100% knowledge workers

Henry Vilas
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Re: Foxconn: no Wisconsin manufacturing plant.

Postby Henry Vilas » Wed Jan 30, 2019 1:22 pm

Besides the promise of huge tax incentives, the Walker administration diverted money from state highway funds to build roads for a plant that won't be hiring many workers. That loss of money could have been used to repair the many state roads that are terrible condition.

gozer
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Re: Foxconn: no Wisconsin manufacturing plant.

Postby gozer » Wed Jan 30, 2019 1:31 pm

they need all those researchers to figure out how to scam the state and counties &c

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Re: Foxconn: no Wisconsin manufacturing plant.

Postby Bwis53 » Wed Jan 30, 2019 1:34 pm

Henry Vilas wrote:Besides the promise of huge tax incentives, the Walker administration diverted money from state highway funds to build roads for a plant that won't be hiring many workers. That loss of money could have been used to repair the many state roads that are terrible condition.
Or put the rail project through...

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Re: Foxconn: no Wisconsin manufacturing plant.

Postby HawkHead » Wed Jan 30, 2019 2:00 pm

Funny story, I have a client who bought land down there when they were proposing a casino years ago. They held the land and then no casino was built. Client bitched for years about having to put money in to just pay the mortgage on the property. Then Foxconn hit and they have a developer and my client tells me what a wonderful deal it was.

I wonder what is going to happen to the property now and the development that has already happened.

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Re: Foxconn: no Wisconsin manufacturing plant.

Postby Shorty » Wed Jan 30, 2019 4:48 pm


snoqueen
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Re: Foxconn: no Wisconsin manufacturing plant.

Postby snoqueen » Wed Jan 30, 2019 5:05 pm

Foxconn/Wisconsin is on the first screen of tonight's New York Times, with some analysis of the rationale and consequences.

Megan Randall, a research associate at the Urban Institute in Washington, noted that Foxconn had failed to follow through on other plans in the past. In 2013, for example, the company announced that it would invest $30 million in a high-tech factory in Pennsylvania that would create 500 jobs. The factory never materialized.

The company laid out ambitious plans in Brazil, too — for 100,000 jobs — that were mostly left on the table.


We knew that going in, if you recall. And went in anyway.

The agreement with the Wisconsin Economic Development Corporation “does protect the state to some extent if Foxconn falls short of promised job creation,” said Timothy Bartik, an economist for the Upjohn Institute in Kalamazoo, Mich. “But the capital investment tax credit, in particular, does not seem to fully adjust for this if Foxconn ends up doing a much less job-intensive and more capital-intensive project.”


This one ends up in court, inevitably, which will cost the state even more.

Henry Vilas
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Re: Foxconn: no Wisconsin manufacturing plant.

Postby Henry Vilas » Wed Jan 30, 2019 5:06 pm

So how do the Republican leaders in the legislature respond? It's Tony Evers' fault.

Wisconsin Assembly Speaker Robin Vos and Senate Majority Leader Scott Fitzgerald said in a statement that Foxconn is reacting to a "wave of economic uncertainty that the new governor has brought with his administration."


Vos and Fitzgerald took that move right out of Trump's playbook.

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Re: Foxconn: no Wisconsin manufacturing plant.

Postby gargantua » Wed Jan 30, 2019 5:29 pm

^^What a load of shit. They truly have no shame.

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Re: Foxconn: no Wisconsin manufacturing plant.

Postby snoqueen » Wed Jan 30, 2019 6:45 pm

Bloomberg is even more clear about the way the plan was garbage from the start:

https://www.bloomberg.com/opinion/artic ... nn-s-plans

Foxconn is now publicly conceding that manufacturing panels in Wisconsin isn’t viable, but still thinks it can hire just as many as originally promised. Instead of factory workers, Woo said they’ll hire for research positions as well as back-end packaging and assembly employees. Frankly, that’s wishful thinking because the U.S. doesn’t have much of a talent pool to dabble in these areas.


Scott Walker fell for this when even you or I would have known better. He did it out of political greed. What was in it for Foxconn, though? If they knew they would never realize their benchmarks and goals to which the tax credits are tied, and would never build the factory no matter how much infrastructure Wisconsin paid for, why did they do this? They're serial scammers, I guess, and can skim off and put in their own pockets enough to make it worth the effort.

And no, of course this isn't Tony Evers' fault. Here's a line of reasoning that makes the same amount of sense: the people of Wisconsin were smart enough to know what was up, so it's the people's fault.

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Re: Foxconn: no Wisconsin manufacturing plant.

Postby Wino » Wed Jan 30, 2019 7:48 pm

Wasn't the deal originally inked on a napkin?

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Re: Foxconn: no Wisconsin manufacturing plant.

Postby gozer » Wed Jan 30, 2019 8:13 pm

it was spelled out a hooker's chest with c-jam

gozer
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Re: Foxconn: no Wisconsin manufacturing plant.

Postby gozer » Wed Jan 30, 2019 8:55 pm

7/2017 - 75% assembly workers 18% engineers


. . . and seven per cent to go to intersections with a sign "will work for food or diapers" to make some extra scratch . . .
Last edited by gozer on Thu Jan 31, 2019 7:16 am, edited 1 time in total.

pjbogart
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Re: Foxconn: no Wisconsin manufacturing plant.

Postby pjbogart » Thu Jan 31, 2019 12:01 am

Surely there are some "roads to nowhere" and dead ends to name. Scott Walker and his cohorts deserve some credit.


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