Foxconn---or should it be the Foxconn---con

I regret I cannot link to this story in the WSJ and the link I am going to post does not come close to the detail in the WSJ.


By Valerie Bauerlein
April 29, 2019 1:07 p.m. ET

MOUNT PLEASANT, Wis.—Six miles west of Lake Michigan lies a cleared building site half again as big as Central Park, ready for Foxconn Technology Group’s $10 billion liquid-crystal-display factory.

Contractors have bulldozed about 75 homes in Mount Pleasant and cleared hundreds of farmland acres. Crews are widening Interstate 94 from Milwaukee to the Illinois state line to accommodate driverless trucks and thousands of employees. Village and county taxpayers have borrowed around $350 million so far to buy land and make infrastructure improvements, from burying sewer pipes to laying storm drains.

One thing largely missing: Foxconn.

No worries Dave , Trump's got it covered..

From another source:

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In early 2019, Foxconn stated that it was no longer building a factory. Then, it claimed that the factory was back on track for completion, following a conversation with US President Donald Trump.

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You want to wait until trade negotiations with the Chinese reach a conclusion before the gloat starts.

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Originally Posted by wacojoe

You want to wait until trade negotiations with the Chinese reach a conclusion before the gloat starts.

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There is no gloating at all from me on this and how did China get involved?

Foxconn is Taiwanese.

Bet it will make jobs, do any of us not like jobs? There appears some grumbling but don't understand.

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Originally Posted by Dave Grubb

There is no gloating at all from me on this and how did China get involved?

Foxconn is Taiwanese.

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Close enough...they all look alike...

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Originally Posted by Billy_Rightwing

Bet it will make jobs, do any of us not like jobs? There appears some grumbling but don't understand.

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Simply put it sounds to me like Foxconn can't hold up their side of the deal.

They may look alike but that is were the similarity begins to unravel.

We recently touched on this issue in the Amazon/NYC thread. The point here, is the possible failure on the part of Foxconn to "preform". I often look at these kinds of deals and shake my head---I have never seen an actual audit of "performance" on any of these projects out 3 years, 5 years or more and my concern is that the majority fail to meet the promises made by the beneficiaries.

That has the making of fraud---but when have you ever heard that charge :dunno:

In fairness, I have seen some that have failed to preform and were required to make restitution of at least a portion of the funding.

Do you know if the voters approved the incentives? The article said the deal was with the taxpayers whatever that means. If the voters approved it i guess they deserve what they get. I think politicians giving tax gifts to shareholders of corporations stinks.:wary:

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Originally Posted by CactusCurt

Do you know if the voters approved the incentives? The article said the deal was with the taxpayers whatever that means. If the voters approved it i guess they deserve what they get. I think politicians giving tax gifts to shareholders of corporations stinks.:wary:

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I just reread the WSJ article and it does not specifically address that issue. What it does say is that the incentives are coming from every level of government---from the village to the state to the federal government.

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Originally Posted by Dave Grubb

What it does say is that the incentives are coming from every level of government---from the village to the state to the federal government.

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In other words, we all take an equal screwing at every level...:hump:...Ben

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Originally Posted by Truckman

In other words, we all take an equal screwing at every level...:hump:...Ben

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Yup :date::kiss: