“They produce a good quality bearing, they are the number one bearing manufacturer in this country”.
Advertisement
We begin with president-elect Donald Trump.
In “Trump’s Carrier Shakedown”, the traditionally conservative Wall Street Journal tells us that, “Workers don’t prosper when politicians force companies to make noneconomic decisions”.
“I just hope that this isn’t a dog-and-pony show based off of a campaign promise”. “They can leave from state to state, and negotiate deals with different states, but leaving the country will be very, very hard”, Trump added.
Carrier, a unit of United Technologies Corp UTX.N , said on Thursday that state officials had pledged $7 million in tax breaks to encourage the firm to keep around 1,100 jobs in Indianapolis after Trump stepped in to protect USA workers.
United Technologies utx chief executive Gregory Hayes said at an event that the company will invest more than $16 million over two years to keep its Indianapolis plant in the state. In some instances, that was because the incentive deals were specific to a particular plant, allowing the company to shift production overseas from other IN plants.
The fact that Carrier’s parent, United Technologies, is a defense contractor that does $6 billion a year in business with the federal government may also have been a factor.
His speaking style, while calmer than on the campaign trail, was similar to the seemingly stream-of-conscious efforts of the past year. Until he saw the man on television.
But Sen. Bernard Sanders, the Vermont independent who ran for the Democratic presidential nomination this year, said Carrier bamboozled Mr. Trump by extracting major concessions while pledging to keep in place only some of the jobs. “I mean, he has not even had a press conference now”, Mr. Wyden told reporters on Capitol Hill. Just a short few months ago, Trump was pledging to force United Technologies to “pay a damn tax”. And though he hadn’t yet had a chance to meet the President-elect, he knows what he’ll say if he does. “I don’t like ’em much, I’ll be honest”, he said in Indiana. How does the government make a decision about when to intervene in such issues? It was, he explained: “A euphemism”. “I was talking about Carrier like all other companies from here on in”. We’re not going to let our jobs be taken away. Mohan Tatikonda says if companies focus more on cutting manufacturing costs than sparking innovation, it could become a “race to the bottom”.
“Today’s announcement is great news for the Hoosier families and workers who will get to keep their jobs – though we are disappointed the company will still ship a good portion of jobs overseas”. “Companies are not going to leave the United States any more without consequences”.
Some analysts criticized Trump for the Indianapolis speech.
“I doubt we can fix global corporations’ exploitation of other labor forces through pushing money at them – they’ll want more and more”, she said.
The speaker says Trump believes President Barack Obama “stripped a lot of power away” from Congress, and wants to “reset the balance of power, so that people and the Constitution are rightfully restored”. “‘We got to sit down”. “I never heard one thing about the Huntington plant”.
Carrier had planned to outsource 2,000 jobs from the U.S. but changed its mind after receiving $7 million aid from the state.
Trump was due to hold a rally in Cincinnati, Ohio, later on Thursday and address supporters who helped him win that swing state in his stunning victory over Democrat Hillary Clinton. The company still plans to shift manufacturing to Mexico from a different IN plant that employs about 700 people.
Advertisement
More than five million manufacturing jobs have been wiped out across the United States since 2000, with IN alone losing about 150,000 factory roles.
