Saturday, February 2, 2019

Wisconsin gave Foxconn a rich subsidy package. Did we overpay? Some experts say we did.

From JSOnline:

John Schmid, Milwaukee Journal Sentinel Published 12:38 p.m. CT Feb. 2, 2019 | Updated 1:40 p.m. CT Feb. 2, 2019

In November 2017, then-Gov. Scott Walker (left), Foxconn Chairman Terry Gou, and then-U.S. Congressman Paul Ryan applauded an agreement for the Taiwanese electronics manufacturer to build a massive manufacturing campus in Wisconsin. In the past week, uncertainties emerged over the feasibility of the project, which relies on $4 billion in state and local subsidies. (Photo: MICHAEL SEARS/MSEARS@JOURNALSENTINEL.COM)

When fiscal conservatives investigate government incentives to lure industries and create jobs, they often find that taxpayers end up paying large sums they never recapture.

“There are a lot of bad programs out there that should go away and we should be upfront about that,” said Greg LeRoy, director of Good Jobs First, a group based in Washington, D.C., that tracks corporate subsidies.

Was Wisconsin's record-shattering $4 billion package of tax breaks and subsidies for Foxconn Technology Group one of those bad programs?

That question flared anew in recent days as news outlets reported that Foxconn was planning to either scale back or suspend its plans for a massive liquid-crystal display manufacturing plant in Racine County. Foxconn on Friday said it still planned to move ahead with the plant.

Timothy Bartik would answer the question this way:

"It's unclear if the benefits would ever be as great as the incentive costs," said Bartik, senior economist at the Michigan-based Upjohn Institute for Employment Research who studies subsidies. "It was a very unusual deal."

At the heart of the subsidies debate is what sort of investments create jobs and whether those jobs will exist when the subsidies expire. The stakes are unprecedented with the Foxconn deal, which the Wisconsin Economic Development Corp. unveiled in 2017 as "the largest corporate attraction project in U.S. history as measured by jobs."

But the Foxconn project has evolved since then. Last year, the Taiwan-headquartered manufacturer of consumer electronics walked back its plans to construct a factory that would produce state-of-the-art panels, opting instead for a less-costly plant that would make screens for smaller devices such as phones and tablets.

The uncertainty makes it difficult to compute cost-per-job. On the low end, University of Georgia economics professor Jeffrey Dorfman calculates that state taxpayers will pay $230,000 per promised job — but that assumes all 13,000 jobs materialize, as promised under the original terms. And Dorfman's analysis only counts the $2.85 billion from state taxpayers and not the tens of millions committed by Racine County and local municipalities.

Counting all state and local subsidies, Wisconsin will pay Foxconn many times more than the average incentive offered in the U.S., according to Bartik's analysis.

The state's contract includes a job-creation payroll tax credit, which subsidizes 17 percent of wages. But when other investment tax credits, which are enshrined in the contract, are added in, Bartik calculates that the cost to Wisconsin taxpayers could be much higher. That includes state subsidies but not county and municipal aid.

It's a big deviation from past practice when Wisconsin and most other states on average subsidized only about 3 percent of wages, he said.

The national norm was even lower prior to the turn of the century when states paid as little as 1 percent of wages on average, said Bartik, who has studied subsidy-driven economic development since the mid-1980s. If states such as Wisconsin ever had rules and formulas to govern subsidy policy, those rules went out the window with Foxconn, Bartik said.

“If this sets a precedent for what other states do, it’s really going to be problematic,” Bartik said.

And when it comes to state subsidy policy, Bartik added:

"Rule No. 1 is to have rules" meant to ensure that tax breaks and subsidies can be replicated and sustained across the economy to include multiple industries and "without breaking the bank."

Wisconsin's contract with Foxconn stipulates that the state only pays subsidies when Foxconn meets job-creation objectives. Because Foxconn fell short in 2018, Wisconsin hasn't yet paid any state aid. It's a different story in Racine County, which already borrowed and spent $130 million for land acquisition, sewers, water and roadwork.

Mel Blanc The Man of a Thousand Voices

Video from the Past [31] - Building a Bomber (1941)

Trooper Beer! From Iron Maiden

Upgraded the digs and installed a new Commander's Chair!

Fun stuff! Great chair! Bonded Leather - swivels, tilts, goes up and 
down! Lots of comfortable padding and armrests. 
 
Note that I didn't install the roller wheels - I used furniture glides 
instead - so I don't tear up the carpet or need a plastic mat.

Foxconn Says 'Yes' To LCD Factory After Talking With Trump

From Mount Pleasant-Sturtevant Patch:

Foxconn says it talked with President Donald Trump, and has now reaffirmed that they're building an LCD factory in Racine County.

By Scott Anderson, Patch Staff | Feb 1, 2019 1:19 pm ET | Updated Feb 1, 2019 1:32 pm ET

Patch File Photo by Scott Anderson

RACINE COUNTY, WI -- After news reports surfaced this week saying that Foxconn was changing plans in Wisconsin - evolving from a liquid crystal display plant to more of a research-and-development facility, the company now says that they're going to build the original $10 billion LCD plant in Mount Pleasant after all.
Here is the full text of Foxconn's statement:

"After productive discussions between the White House and the company, and after a personal conversation between President Donald J. Trump and Chairman Terry Gou, Foxconn is moving forward with our planned construction of a Gen 6 fab facility, which will be at the heart of the Wisconn Valley Science and Technology Park.

This campus will serve both as an advanced manufacturing facility as well as a hub of high technology innovation for the region."

"Our decision is also based on a recent comprehensive and systematic evaluation to help determine the best fit for our Wisconsin project among TFT technologies. We have undertaken the evaluation while simultaneously seeking to broaden our investment across Wisconsin far beyond our original plans to ensure the company, our workforce, the local community, and the state of Wisconsin will be positioned for long-term success."

"We look forward to continuing to expand our investment in American talent in Wisconsin and the US."

Local Officials React Positively

The following joint statement was issued Friday afternoon by Village of Mount Pleasant President David DeGroot, City of Racine Mayor Cory Mason, Racine County Executive Jonathan Delagrave and Jenny Trick, Executive Director of the Racine County Economic Development Corporation:

We welcome today's announcement that Foxconn has determined the LCD/TFT technology it will build at its advanced manufacturing campus in the Village of Mount Pleasant. We look forward to working with Foxconn as it advances its Generation 6 manufacturing facility, including its ongoing construction of manufacturing, assembly and research facilities in 2019.

Foxconn has confirmed to us that it will host information sessions in April for the next round of construction. It will also commence work on the Gen6 Fab facility, along with completing work on the campus facilities it shared earlier this week, over the next 18 months.

We remain committed to ensuring that Foxconn's investment in our community will bring unparalleled economic development, job growth and enhanced quality of life for those in Racine County and throughout Wisconsin.

Report Stated Foxconn Suspending Racine County Work

One day after news broke that Foxconn said it would be changing plans for its $10 billion LCD screen manufacturing plant came a new report that the Taiwanese electronics manufacturer was going to be suspending work in Racine County.
According to the Nikkei Asian Review, "Foxconn's $10 billion investment in display production in the state of Wisconsin has been suspended and scaled back as a result of negotiations with new Gov. Tony Evers," according to documents Nikkei says they've obtained. Nikkei further reported that Foxconn plans to "only halt [the Wisconsin project] for further evaluation and discussion with the new governor."
It's no secret that Evers, a Democrat, had interest in approaching Foxconn to renegotiate aspects of the deal former Gov. Scott Walker, a Republican, helped to put in place before he left office.
According to a Thursday report in the Journal Times, the Evers camp denied both interest and intent to re-negotiate the rules on Foxconn. However, there have been multiple instances in which Evers took an aggressive posture when it came to looking at GOP-constructed deals with Foxconn while on the campaign trail.
According to a Milwaukee Biz Times article, Evers said that he would look at renegotiating parts of the contract with Foxconn with an eye on fortifying the state's position on wages, Milwaukee-area hiring, public transportation and the plant's energy efficiency. He said he would do so by using local transportation projects as negotiating leverage against Foxconn.
"I would really focus on compelling them to be good corporate citizens," he said. "I don't believe they want to be viewed as bad actors," he said. But shortly afterward, Evers ratcheted up his rhetoric in the Biz Times, indicating a much stronger stance than before.
"That's a lousy investment," Evers said in the Biz Times of Wisconsin's $2.85 billion incentive package that Walker's administration passed in November 2017. "Foxconn has already backtracked on several of its promises and is not being held accountable by Walker. When I'm governor, we'll hold Foxconn's feet to the fire and make sure that Wisconsin is getting the best return on investment possible."
Evers has also gone public with his intention to revise air pollution regulations around the plant. "I've had many scientists look at that approval process and they've found many flaws with that decision made by the Department of Natural Resources,"Evers told the Wisconsin State Journal during the campaign. "So I would take that information and the approval and say, 'How can we get from here to here?'"
Report said Foxconn Not Making LCD Screens in Racine County
A top Foxconn executive told reporters Wednesday that the Taiwanese electronics manufacturer may not end up making LCD screens in Mount Pleasant, throwing into question the $10 billion factory's future.
Louis Woo, special assistant to Foxconn Chief Executive Terry Gou, told Reuters that Foxconn is evaluating options for Wisconsin, but added that making advanced TV screens in the U.S. comes at a high cost to the company.
"In terms of TV, we have no place in the U.S.," he said in an interview with Reuters. "We can't compete. In Wisconsin we're not building a factory. You can't use a factory to view our Wisconsin investment," Woo said in the interview.
In the report, Woo told Reuters that the company's latest plan is to create a campus of research facilities along with packaging and assembly operations.
Racine County officials responded to the report later Wednesday, saying they've received reassurances from the company that Foxconn's commitment to generating 13,000 jobs is still on track
Village of Mount Pleasant President David DeGroot, Racine County Executive Jonathan Delagrave and Jenny Trick, Executive Director of the Racine County Economic Development Corporation issued the following statement, which says in part:

Contrary to what was reported by Reuters, Foxconn reiterated to us, today, its commitment to building an advanced manufacturing operation in Wisconsin, in addition to its commitment to create 13,000 jobs and invest $10 billion in Racine County. As Foxconn has previously shared, they are evaluating exactly which type of TFT technology will be manufactured in Wisconsin but are proceeding with construction on related manufacturing, assembly and research facilities on the site in 2019.

We understand that Foxconn must be nimble in responding to market changes to ensure the long-term success of their Wisconsin operations. We fully expect that Foxconn will meet its obligations to the State, County and Village.

Officials stated that both the local and state development agreements are legally binding, and include strong protections for taxpayers. The state agreement, they said Wednesday, was largely based on job creation, and ensures that Foxconn only receives state tax credits if it meets or exceeds its targeted hiring amounts in any given year.
The local development agreement stipulates that, if, for any reason, Foxconn's investment on the campus falls short, the company remains obligated to support a minimum valuation for the project of $1.4 billion, which will more than pay for all public improvements and development costs for the project.
Then the War of Words Happened
Wednesday morning, Wisconsin legislative Republicans made short work to blame incoming Democratic Gov. Tony Evers for the latest iteration of Foxconn's plans in Wisconsin. Democrats fired back, saying the deals former Gov. Walker made with Foxconn were not going to stand the test of time.
Assembly Speaker Robin Vos (R-Rochester) and Senate Majority Leader Scott Fitzgerald (R-Juneau) released the following statement on the Foxconn commitment to Wisconsin.

"We don't blame Foxconn for altering plans in an ever-changing technology business. It's also not surprising Foxconn would rethink building a manufacturing plant in Wisconsin under the Evers Administration. The company is reacting to the wave of economic uncertainty that the new governor has brought with his administration. Governor Evers has an anti-jobs agenda and pledged to do away with a successful business incentive for manufacturing and agriculture.

State Sen. Lena Taylor (D-Milwaukee) wasn't buying Vos' explanation for matters surrounding Foxconn's latest news: "To imply that a change in the Governor's office is justification for Foxconn's outright lies to the residents of this state, is ridiculous. It also doesn't fly, since again, Foxconn started reneging on aspects of the deal while Walker was still in office," she said in a statement Wednesday.
"Almost has soon as the ink dried on the Wisconsin deal, Foxconn started walking back their promises. Immediate reductions in screen sizes, hires, Chinese workers instead of Americans, plant operations, assembly workers, and on and on. The only thing that hasn't changed is that this has been a bad deal for Wisconsin since the start. At some point, Republican leadership needs to admit, plain and simple, they got played," Taylor added.

Largest Incentives in State History
It would take state taxpayers a minimum of 25 years to break even on a proposed $3 billion incentive package that is designed to lure electronics manufacturer Foxconn to Wisconsin.
According to an analysis by the nonpartisan Wisconsin Legislative Fiscal Bureau, the cost of the tax credits would exceed potential increased tax revenues by $1.04 billion at the end of the fiscal year 2032-33.
Speaker Paul Ryan delivers his remarks Friday.After that year, payments to Foxconn would end and increased tax collections are estimated at $115 million annually. Their analysis, which was released Tuesday, implies that the break-even point would come during the 2042-43 fiscal year.
But it might not.
The Legislative Fiscal Bureau in its analysis said that any cash-flow analysis that covers a period of nearly 30 years must be considered highly speculative, especially for a manufacturing facility and equipment that may have a limited useful life.
Technological advances and changes in Foxconn's market share, operating procedures, or product mix could significantly affect employment and wages at the proposed facility over time.
Also, state law changes could affect the estimated amount of tax collections received from the additional economic activity, and any future state assistance that may be provided to Foxconn would affect the analysis.
Local Incentives
Racine County officials revealed last month that Racine's incentive package to lure Foxconn was approximately $764 million - a figure as staggering as the overall size of the project.
According to Racine County figures, that breaks down to the following uses:
$168 million for property acquisition
$175 million to finance the package
$160 million for water and wastewater infrastructure upgrades
$116 million for public safety and police upgrades
$100 million in Tax Incremental District Financing
$28 million held in contingency
$12 million for road upgrades
$5 million for fiber optic lines
And for all that, Racine County Executive Jonathan Delagrave said there will be no tax increases for county residents by way of a tax increment district to fund the project. By establishing a TID, a City or Village is able to capture the property tax revenue from new development inside the TID to pay for public improvements in and around the TID.
The county estimates that once the Foxconn TID closes, there will be $31 million in new tax revenue per year for the village.

From: https://patch.com/wisconsin/mountpleasant/after-talking-trump-foxconn-says-yes-lcd-factory?fbclid=IwAR2ETMDMdiCKxZ5QMoGyPLTYB6RgX9WxE14NVQhU56ADnaQMoQ_gfTj3gaY

Ratcine

Dear City of Racine Alderpersons, 
 
Rats in LA City Hall... 
 
Kinds sounds like Ratcine.... 
 
 The epidemic of typhus in Los Angeles, California has spread from 
homeless encampments to City Hall. Local authorities say they are 
trying to address the problem, but critics point to mountains of trash 
lining the streets. 
 
Deputy City Attorney Liz Greenwood was diagnosed with typhus in 
November, after complaining about having headaches and high fever, she 
told KNBC on Friday. 
 
“It felt like somebody was driving railroad stakes through my eyes and 
out the back of my neck,” Greenwood said. “Who gets typhus? It's a 
medieval disease that's caused by trash.” 
 
https://www.rt.com/usa/450379-los-angeles-typhus-epidemic/ 
 
Imagine - a City Hall infested by Rats! and ... TRASH! 
 
Resign NOW! Mayor Mason. 
 
Eliminate 3 from the 5 installed and taxpayer financed in the Mayor's Office. 
 
*FREE SANDY* 
 
!FIRE! City Attorney Scott Letteney and his entire staff. 
 
Time to eliminate the Rats who infest Racine City Hall. Via the most 
humane way possible - aka elections, firings, and common sense. 
 
As to deluded Alderperson Terry "Krazee eyed" Mckarthy - It's not the 
City of Choice - it is the City of Vice. The only choice for those who 
are so well heeled - is to flee the never ending increasing taxes - 
expanding debt - lies - and confiscatory wealth distribution schemes 
which abound. 
 
As long as a criminal Judiciary and Government continues to Rule 
Racine County -  the Law of the Sheep and the Rule of what little 
remains of Law is dead. All the Sinners are Saints - and all the 
Saints Sinners. Enjoy the dichotomy. 
 
Sincerely, 
 
Tim & Cindy

Rats in LA City Hall...

Kinds sounds like Ratcine.... 
 
 The epidemic of typhus in Los Angeles, California has spread from 
homeless encampments to City Hall. Local authorities say they are 
trying to address the problem, but critics point to mountains of trash 
lining the streets. 
 
Deputy City Attorney Liz Greenwood was diagnosed with typhus in 
November, after complaining about having headaches and high fever, she 
told KNBC on Friday. 
 
“It felt like somebody was driving railroad stakes through my eyes and 
out the back of my neck,” Greenwood said. “Who gets typhus? It's a 
medieval disease that's caused by trash.” 
 
https://www.rt.com/usa/450379-los-angeles-typhus-epidemic/ 
 
Imagine - a City Hall infested by Rats!

Open Blog - Weekend

Have a great weekend.

Friday, February 1, 2019

Modern Money Magicians!

https://www.zerohedge.com/news/2019-02-01/mmt-court-astrologers-dream 
 
It’s not Modern; it’s not Monetary; and it’s really not much of a Theory 
 
If ever there was a prime example of a belief in the Fairy 
Gov-a-Mother being mixed with a bad case of warmed-over monetary 
crankdom, the suddenly, newly- fashionable doctrine which masquerades 
under the portentous-sounding name of ‘Modern Monetary Theory’ – 
‘MMT’, for short – must surely qualify.

EW... Still Stinks!

Guess it still stinks.....

To Jim Spodick:

Both you and Globo-Homo Ken Yorgan owe me an apology.

......

And so, bury the tomahawk, on Thursday, Warren called Bill John Baker,
chief of the Cherokee Nation, to apologize for the DNA test, said
Julie Hubbard, a spokeswoman for the tribe. She called it a "brief and
private" conversation.

“I understand that she apologized for causing confusion on tribal
sovereignty and tribal citizenship and the harm that has resulted,”
Ms. Hubbard said. “The chief and secretary of state appreciate that
she has reaffirmed that she is not a Cherokee Nation citizen or a
citizen of any tribal nation.”

The unexpected apology breaks from Warren’s previous public stance, in
which she refused to admit fault and as recently as December she
rebuffed calls for an apology; however that changed after Warren's
advisers said she has privately expressed concern that she may have
damaged her relationships to Native American groups "and her own
standing with activists, particularly those who are racial
minorities."

In other words, her sincere apology was the outcome of careful
strategy sessions about how her polling could be affected by the DNA
test.

“I put it out there. It’s on the internet for anybody to see,” Ms.
Warren said in an interview. “People can make of it what they will.
I’m going to continue fighting on the issues that brought me to
Washington.”

https://www.zerohedge.com/news/2019-02-01/elizabeth-warren-apologizes-cherokee-nation-dna-test

Ricky for the 3rd

From Racine Uncensored:

Announcements

Ricky S. Jarstad

AdminJanuary 3 at 8:00 AM

Passioned with a purpose to do the right thing at the right hour has brought me here. I usually don't allow for campaigning in this group, but I'll make an exception.
Today I am officially announcing that I am throwing my hat into local politics and seeking the 3rd Aldermanic District seat as the People's Representative for the spring 2019 election. After much soul-searching and consultation with friends and family, it is not a decision I take lightly, but our city is hurting. We need truth and honesty to take a stand and that's why I'm standing up.

Born and raised in and around the City of Racine, I've called this city home for 34 years. I even work and live-entirely within the 3rd district. I wouldn't trade home for anything in the world. We all want a safe and sound community to live.
A better tomorrow begins with us. United together for the purpose of making Racine shine bright. Many of my friends, family, loved ones, neighbors, brothers and sisters have been forgotten or their voices have been lost in a broken-system. It's time we change things for the better with real representation. A real voice for what's right.
Join our movement for an Honest, Open and Transparent Racine Government and a safe community for all. Thank you!
https://www.facebook.com/Ricky-for-the-3rd-2225822194405661/

Four for Fridays!

Good morning everyone I hope you had a good week. Here are your questions.

1) Did you survive the below 0 weather?

2) Did you venture out in the cold weather?

3) Did you car start with the below 0 weather?

4) Did you have to have your car jumped in the cold weather?

Have a great weekend!

Open Blog - Friday

It's a heat wave.

Thursday, January 31, 2019

Vos, Fitzgerald point finger at Evers for Foxconn changes

20 hrs ago

RACINE COUNTY — Republican leaders, including Assembly Speaker Robin Vos, R-Rochester, are pointing fingers at Democratic Gov. Tony Evers after news came out that Foxconn Technology Group is going to adjust plans for its Mount Pleasant manufacturing campus.

Democrats, in turn, blamed Republicans for what they consider a bad deal with Foxconn.

In a statement released Wednesday, Vos and state Senate Majority Leader Scott Fitzgerald, R-Juneau, wrote:

“We don’t blame Foxconn for altering plans in an ever-changing technology business. It’s also not surprising Foxconn would rethink building a manufacturing plant in Wisconsin under the Evers Administration. The company is reacting to the wave of economic uncertainty that the new governor has brought with his administration. Governor Evers has an anti-jobs agenda and pledged to do away with a successful business incentive for manufacturing and agriculture.”

“From the very beginning, we looked out for the best interest of the taxpayers of the state,” Vos and Fitzgerald stated. “Not a dollar would be paid out until jobs in the Foxconn development area were created. The incentive package is based on fulfilling the contract. We will continue to work with Foxconn to help the company meet its repeated goal of creating 13,000 jobs in Wisconsin. Again, the company has reiterated that this goal hasn’t changed.”

Vos and Fitzgerald say Republicans will work to “keep Wisconsin open for business and the Manufacturing and Agriculture Tax Credit in place. This news only strengthens our commitment to Wisconsin: We aren’t going to let our state move backward.”

The statement praises Foxconn for creating 1,000 jobs, both direct and indirect, and an investment of $200 million in the state.

Foxconn reported that it created 1,032 jobs last year, comprised of 178 full-time Foxconn employees and 854 people working to build the Wisconn Valley Science and Technology Park. However, the company was not able to receive tax credits because it did not create at least 260 eligible jobs.

Read more: https://journaltimes.com/news/local/vos-fitzgerald-point-finger-at-evers-for-foxconn-changes/article_61e3bc41-1c16-5fb5-a46a-52caca7908c7.html

The worst part of censorship

From Racine Uncensored:

From: https://www.facebook.com/groups/1783568838634123/permalink/2288313168159685/

"We can't compete."

Dear Village Board, 
 
Reuters Wire Service would seem to indicate that MTP Village President 
David DeGroot, Racine County EX Jonathan Delagrave, City of Racine 
Mayor Cory Mason, plus other associated collaborators - to include 
Robin Vos - lied to taxpaying Residents.... 
 
From Reuters: 
 
"Now, those plans may be scaled back or even shelved, Louis Woo, 
special assistant to Foxconn Chief Executive Terry Gou, told Reuters. 
He said the company was still evaluating options for Wisconsin, but 
cited the steep cost of making advanced TV screens in the United 
States, where labor expenses are comparatively high. 
 
“In terms of TV, we have no place in the U.S.,” he said in an 
interview. “We can’t compete.” 
 
We can't compete. 
 
Agreed. 
 
So it is time for local government to scale back - minimum 25% paycuts 
- minimum 25% contribution to benefits. 
 
No more early retirements, long vacations, sicktime, and those who 
retire to a tax haven foreign State need to pay an additional 25% 
penalty. 
 
Things to consider - from Rebel Yell - to "Ginamorous" MTP Village 
President (and local Tea-Tard) David DeGroot. 
 
More... from Reuters: 
 
Rather than manufacturing LCD panels in the United States, Woo said it 
would be more profitable to make them in greater China and Japan, ship 
them to Mexico for final assembly, and import the finished product to 
the United States. 
 
He said that would represent a supply chain that fits with Foxconn’s 
current “fluid, good business model.” 
 
Well, well - Tea-Tards are.... Tea Tards. Basking in the glow of a Low 
IQ is nothing to proud of - MTP President David DeGroot - even if your 
ego was of GINORMOUS proportions. Special Olympics are where your 
talents lie - certainly not in Village Government. 
 
Sincerely, 
 
Tim & Cindy

From Reuters

https://www.reuters.com/article/us-foxconn-wisconsin-exclusive/exclusive-foxconn-reconsidering-plans-to-make-lcd-panels-at-wisconsin-plant-idUSKCN1PO0FV

The Wool is Removed From the Eyes!

Dear City of Racine Alderpersons,

From Mish Talk - Global Economic Trend Analysis

Link: https://moneymaven.io/mishtalk/economics/conn-job-foxconn-wisconsin-manufacturing-cancellations-us-labor-costs-too-high-3FBnp-e820ukdlPPFU0wrA/

Conn Job: Foxconn Wisconsin Manufacturing Cancellations, US Labor Costs Too High

Foxconn already scaled back its Wisconsin plans and is about to do so
again. US labor costs are too high.

Reuters reports Foxconn Reconsidering Plans to Make LCD Panels at
Wisconsin Plant.

Foxconn Technology Group is reconsidering plans to make advanced
liquid crystal display panels at a $10 billion Wisconsin campus, and
said it intends to hire mostly engineers and researchers rather than
the manufacturing workforce the project originally promised.

Foxconn, which received controversial state and local incentives
for the project, initially planned to manufacture advanced large
screen displays for TVs and other consumer and professional products
at the facility, which is under construction. It later said it would
build smaller LCD screens instead.

Now, those plans may be scaled back or even shelved, Louis Woo,
special assistant to Foxconn Chief Executive Terry Gou, told Reuters.
He said the company was still evaluating options for Wisconsin, but
cited the steep cost of making advanced TV screens in the United
States, where labor expenses are comparatively high.

Earlier this month, Foxconn, a major supplier to Apple Inc.,
reiterated its intention to create 13,000 jobs in Wisconsin, but said
it had slowed its pace of hiring. The company initially said it
expected to employ about 5,200 people by the end of 2020; a company
source said that figure now looks likely to be closer to 1,000
workers.

Conn Job

Rather than manufacture LCD panels in the United States, Woo said it
would be more profitable to make them in greater China and Japan, ship
them to Mexico for final assembly, and import the finished product to
the United States.

“In terms of TV, we have no place in the U.S.,” he said in an
interview. “We can’t compete.”

This was a "Conn" job from the get go. Foxconn had to know US labor
costs would be too high. The company never intended to manufacture
here.

The clear intent was to gain access to US engineers and researchers.

Had Foxconn stated that upfront, there would have been no deal. So
Foxconn promised 13,000 jobs and got $4 billion in tax breaks.

Mission Accomplished

Foxconn will lose those tax breaks because it will not meet hiring
goals, except its own of course. The entire purpose of this con job
was to hire the brightest US engineers.

The manufacturing jobs will be in China with assembly in Mexico.
Foxconn gets US engineers.

Mission accomplished.

Mike "Mish" Shedlock

Cindy and I hope ya'all got that PLAN "B" ready!

We'd suggest cutting 3 positions from the Mayor's Office - firing City
Attorney Scott Letteney and his entire staff - and a 25% wage/salary
cutback for all employees while increasing employee contributions to
retirement and insurance plans by 25%. That would be a good start.

If this was the Wild West - and it ain't no more - tarring and
feathering Mayor Cory Mason would also be acceptable. It's not advised
or condoned in any manner - Mayor Mason simply needs to resign.

Sincerely,

Tim & Cindy

"US Labor Costs Too High"

Dear Village Board,

From Mish Talk - Global Economic Trend Analysis

Link: https://moneymaven.io/mishtalk/economics/conn-job-foxconn-wisconsin-manufacturing-cancellations-us-labor-costs-too-high-3FBnp-e820ukdlPPFU0wrA/

Conn Job: Foxconn Wisconsin Manufacturing Cancellations, US Labor Costs Too High

Foxconn already scaled back its Wisconsin plans and is about to do so
again. US labor costs are too high.

Reuters reports Foxconn Reconsidering Plans to Make LCD Panels at
Wisconsin Plant.

Conn Job

“In terms of TV, we have no place in the U.S.,” he said in an
interview. “We can’t compete.”

This was a "Conn" job from the get go. Foxconn had to know US labor
costs would be too high. The company never intended to manufacture
here.

The clear intent was to gain access to US engineers and researchers.

Had Foxconn stated that upfront, there would have been no deal. So
Foxconn promised 13,000 jobs and got $4 billion in tax breaks.

Mission Accomplished

Foxconn will lose those tax breaks because it will not meet hiring
goals, except its own of course. The entire purpose of this con job
was to hire the brightest US engineers.

The manufacturing jobs will be in China with assembly in Mexico.
Foxconn gets US engineers.

Mission accomplished.

Mike "Mish" Shedlock

Cindy and I hope ya'all got that PLAN "B" ready!

Enjoy the Rebel Yell - Tea-Tard Dave!

Sincerely,

Tim & Cindy

Foxconn Scales Back Again

Foxconn already scaled back its Wisconsin plans and is about to do so 
again. US labor costs are too high. 
 
Reuters reports Foxconn Reconsidering Plans to Make LCD Panels at 
Wisconsin Plant. 
 
    Foxconn Technology Group is reconsidering plans to make advanced 
liquid crystal display panels at a $10 billion Wisconsin campus, and 
said it intends to hire mostly engineers and researchers rather than 
the manufacturing workforce the project originally promised. 
 
https://moneymaven.io/mishtalk/economics/conn-job-foxconn-wisconsin-manufacturing-cancellations-us-labor-costs-too-high-3FBnp-e820ukdlPPFU0wrA

10 Hilarious Conspiracy Theories

Oprn Blog - Thursday

More More Brr.

Wednesday, January 30, 2019

Corruption Perceptions Index 2018 | Transparency International

https://www.transparency.org/cpi2018

From The Journal Times.com:

Study: Corruption levels linked to health of democracies

By DAVID RISING Associated Press

Jan 29, 2019 Updated Jan 29, 2019

BERLIN (AP) — Countries like Hungary and Turkey are growing more corrupt as they become more autocratic, and threats to the American system of checks and balances have knocked the United States out of the top 20 "cleanest" countries, according to a closely watched annual survey released Tuesday.
Watchdog group Transparency International said its Corruption Perceptions Index for 2018 showed more than two-thirds of countries scoring below 50, on its scale where 100 is very clean and zero is very corrupt.
With a score of 71, the U.S. lost four points over 2017 and dropped out of the top 20 nations for the first time since 2011.
"A four point drop in the CPI score is a red flag and comes at a time when the U.S. is experiencing threats to its system of checks and balance, as well as an erosion of ethical norms at the highest levels of power," the Berlin-based organization said.
"If this trend continues, it would indicate a serious corruption problem in a country that has taken a lead on the issue globally —this is a bipartisan issue that requires a bipartisan solution."
In a cross-analysis of its survey with global democracy data, Transparency said a link could be drawn between corruption and the health of a democracy.
Full democracies scored an average of 75 on the corruption index, flawed democracies averaged 49, and autocratic regimes averaged 30, the organization said.
It noted that Hungary dropped eight points and Turkey nine over the past five years, to scores of 46 and 41, respectively.
At the same time, the report cited Freedom House's annual democracy survey, noting Turkey was downgraded from "partly free" to "not free," while Hungary registered its lowest score for political rights since the fall of communism in 1989.
The ratings reflect the "deterioration of rule of law and democratic institutions, as well as a rapidly shrinking space for civil society and independent media," the organization said.
"Our research makes a clear link between having a healthy democracy and successfully fighting public sector corruption," said Delia Ferreira Rubio, the head of Transparency. "Corruption is much more likely to flourish where democratic foundations are weak and, as we have seen in many countries, where undemocratic and populist politicians can use it to their advantage."
Overall, Denmark led the survey as the least corrupt nation, with a score of 88, followed by New Zealand, Finland, Singapore, Sweden and Switzerland. Rounding out the top group were Norway, Netherlands, Canada, Luxembourg, Germany and Britain.
At the same time, 16 have declined significantly in that time, including Australia, which slipped from a score of 85 to 77, and Chile, which dropped from 72 to 67.
The index is calculated using 13 different data sources that provide perceptions of public sector corruption from business people and country experts. These include the African Development Bank Country Policy and Institutional Assessment, the World Bank Country Policy and Institutional Assessment, the World Economic Forum Executive Opinion Survey and the World Justice Project Rule of Law Index Expert Survey.
———

Corruption Perceptions Index: https://www.transparency.org/cpi2018

From: https://journaltimes.com/news/world/study-corruption-levels-linked-to-health-of-democracies/article_4176e8b2-48eb-51f7-90d6-37cf43523077.html

The Shivering Truth Pilot

The Shivering Truth Pilot from [adult swim] on Vimeo.

Frostbite

Click to enlarge.

Dear Madame Zoltar

Hello, Mr. and Mrs. Icicle! How are you? Frozen? Thawing out? In bed under the covers? That's where I'd like to be. It's supposed to be so cold today that your blood will freeze. If you have to go out, dress in layers and cover your head. I hope that your car starts. The same goes for your heart. We're supposed to set a record today for cold. Oh boy, a record.

The snow yesterday kept me at home. I had an eye doctor appointment, but the clinic was closed. Good. So were a lot of other places. All of a sudden, we're getting a real winter. The scientists blame this on the polar vortex breaking into three pieces, with one settling over North America. It got so warm in Antarctica that it broke up the polar vortex. Everything is messed up climate-wise. There's land being exposed in Antarctica that hasn't been seen in 120,000 years. What will archeologists find there?

When will the polar vortex retreat? Some say not for two months. Oh my. https://journaltimes.com/news/local/science-says-get-used-to-polar-vortex-outbreaks/article_ab8ff956-059c-5ba2-b212-6d9f595c539d.html

Junior and Señor Zanza shoveled us out yesterday. I have to keep reminding Señor Zanza that he's not as young as Junior and he should let Junior do the majority of the work. Junior is at that age when you're bulletproof. Señor Zanza shouldn't try to compete with Junior. Let the kid work.

The resignation of Judge Rebecca Mason came as a surprise. Many are saying that she did it because her husband, Mayor Butterball Mason, is mayor and there was a conflict of interest. I'm not so sure. I trust no one in local government. We'll see what develops.

And Lee Enterprises is buying Kenosha News. My crystal ball remains cloudy on this. Maybe it's the polar vortex. In any case, I'm not sure if this is good, bad, or irrelevant to the Racine and Kenosha populations. I don't know that much about the Kenosha News, but I pity its poor, dedicated readers. They're in for a shock as the "Lee Effect" takes hold.

Here's a good one from Kenosha News: "Security video from man's home captures him breaking into neighbor's house" I love it when idiot criminals unknowingly turn themselves in. Like all the clowns on Facebook who post the loot and guns from their last hit. RPD has someone checking local social media for evidence of crime. Apparently, a lot of criminals just can't help themselves. Yay. Keep it up. The police love it, too.

Here's a poem by Lawrence Hall
from Dec. 2018:

A Polar Vortex Nightmare

I saw a polar vortex in my dream
Drinking his coffee with sugar and cream
Then water skiing on the warm gulf stream –
He seemed to plan, he seemed to plot, to scheme

I tried to wake, I tried to warn, to scream
But wait – now just what is this wild dream’s theme?
Why was my sleep all night a mental steam?
My dream was confused, for this was the meme:

My gutter ball alienated my team

And so

I saw a bowler vortex in my dream

I don't know if I like it or not. Well, it's more than I could do. I think.

I love all of you "guys." I really do. Stay warm.

madamezoltar@jtirregulars.com

Be very careful in this subzero snap. Dress properly. Better yet, don't go out. I'm sure that exposed flesh would start to freeze almost instantly. Besides leading to amputation in extreme cases, frostbite makes the affected areas more susceptible to cold from there on. So avoid it. Take care of yourselves.
_________________________
Please donate: paypal.me/jgmazelis If you don't like PayPal, send me a note at madamezoltar@jtirregulars.com and I'll send you my street address so you can send a check or money order. Thank you.

Open Blog - Wednesday

More Brr.

Tuesday, January 29, 2019

Pitchmen and Sponsors Report

From The Shepherd Express:

by Art Kumbalek

Jan. 29, 2019

5:03 p.m.

I’m Art Kumbalek and man oh manischewitz what a world, ain’a? So listen, about these naming rights for the Brewers’ Miller Park going to some kind of insurance outfit, I’m calling a “what the fock” on that play. Maybe some fans don’t think it’s a big focking deal. But what will they say when the mascot gets changed from Bernie Brewer to Petey Policy—some fockstick in a suit and tie—and every time the Crew hits a home run, instead of Bernie taking a ride down the slide, Petey parks his sorry ass behind a desk, whips out a pen and files a claim? Hey, you tell me.

And then I’ll tell you that the naming rights to this here page of essays are always darn-tootin’ priced right to go to the highest bidder: “Old Crow at Art for Art’s Sake,” “Art for Art’s Sake with Pall Malls.” I don’t give a rat’s ass what you want to peddle as part of the Art Kumbalek franchise, just as long as you pony up the yearly $100 grand it’ll take to do the deal, what the fock.
Anyways, I was out and about just the other day and some knob says to me, “Hey Artie, writing those essays must be good therapy, ain’a?” And I was reminded of a little story:
This gal goes to her psychiatrist ’cause she’s having big problems with her sex life, wouldn’t you know. The psychiatrist asks her lots of questions but wasn’t getting a clear picture of her problems. So finally he asks, “Do you ever watch your husband’s face while you are having sex?” And she says, “Well, yes, I did once.” The psychiatrist asked her how he looked and she said, “Very angry.”
The psychiatrist felt he was finally getting somewhere: “That’s very interesting but we must look into this further. Now tell me, you say that you have only seen your husband’s face once during sex, which seems somewhat unusual. How did it occur that you saw his face that time?” And she says, “He was looking through the window.” Ba-ding!
Yeah yeah you betcha, Artie’s his own therapist, how ’bout that. By cutting out the middle man, I figure I’m saving myself maybe about $150-$200 bucks an hour; so the drinks are on me. And as a therapist, one thing I know is that we can all use an extra pat on the back. Actually, I got a better idea. More than an extra pat on the back, we could all use an extra twenty in the pocketbook, what the fock. Hold on, I got an even better idea. How ’bout, say, you go see one of these psychiatric guys for a little shrink rap, and at the end of the session he gives you a crisp $100 bill and change instead of the other way around—“Hey doc, gosh. Thanks for the dough. I'm feeling better about myself already.” And isn’t that the point?
Fock if I know, but I sometimes do wonder what things would be like these days if there had been an outbreak of the psychology racket in the olden days. Say, back in the year 0027 or something, they pull Jesus in for a psych session: “Well, Mr. Christ, to me it looks like we’re dealing with a pattern of self-destructive behavior here. I’d say you were clinically depressed but that hasn’t been invented yet. This savior thing. It’s a grand idea, but practically speaking, what about the future? Do you actually see yourself doing this at 40, 50? And you say one thing, but then do another. ‘Love thy neighbor,’ fine. But then you go bust up their money-changing temple. What I’d like to do is see you weekly for the long-term. Who is your health care provider, Mr. Christ?”
Okey-dokey, let’s wrap up with a nice ice fishing story, considering the weather we’ve had:
This drunk guy decides to go ice fishing, so he gathers his gear and goes walking around until he finds a big patch of ice. He heads into the center of the ice and begins to saw a hole. All of sudden, a loud booming voice comes out of the sky. “You will find no fish under that ice.”
The drunk looks around, but sees no one. He starts sawing again. Once more, the voice speaks, “As I said before, there are no fish under the ice.” The drunk looks all around, high and low, but can’t see a single soul. He picks up the saw and before he can continue cutting, the huge voice interrupts. “I have warned you three times now. There are no fish!”
The drunk is abso-focking-lutely flustered, so he asks the voice, “How do you know there’s no fish? Are you God?” “No, douchebag,” the voice says. “I am the manager of this hockey rink.”
Ba-ding! ’cause I’m Art Kumbalek and I told you so.

From: https://shepherdexpress.com/advice/art-kumbalek/pitchmen-and-sponsors-report/

Rebecca Mason Resigns

From Racine Uncensored:

Ricky S. Jarstad shared a post.

Admin12 hrs

Does this have to do with Rebecca being named in the unsealed Weidner documents?

Talking Racine

Community

Talking Racine

18 hrs

Municipal Judge Rebecca Mason is Stepping Down
It has been my privilege to serve as City of Racine Municipal Judge for the last 2 ½ years. I am honored to have been appointed by this Council and elected twice with overwhelming support of the voters from the city that I love so much.
I am tremendously proud of what I have been able to accomplish working along side extraordinary community leaders and an amazing court staff. We modernized the court by implementing online payments and transitioning from typewriters and carbon paper to a computer system. We established a truancy court that has helped many kids get back into the classroom and on track to graduate and get good jobs or go on to college. We provided opportunities for people to recover their driver’s licenses. We also expanded community service opportunities for those who appear before the court and have greatly reduced the use of jail time for residents who cannot afford to pay their forfeitures.
I have accomplished the goals I set out when I first sought this position. For several reasons – most importantly my dedication to my family and my clients – I am taking my career in a different direction and stepping down from the Municipal Court effective Friday, February 22, 2019.
I want to extend a heartfelt thank you to so many who have helped and supported my service to our community.
Thank you,
Rebecca

From: https://www.facebook.com/groups/1783568838634123/permalink/2286887928302209/

Open Blog - Tuesday

Brr.

Monday, January 28, 2019

3-year-old who was missing for days says a bear watched over him in North Carolina woods

Searchers found Casey Hathaway on Thursday, two days after he vanished from his grandmother’s yard in North Carolina.

A 3-year-old boy who was found alive after having been missing for days told family members that he was busy spending time with a bear.

Casey Hathaway was playing with other children on Tuesday when he vanished from his grandmother’s yard in a rural part of eastern North Carolina. He was found alive two days later from where he disappeared after community search crews received a tip.

Casey’s aunt, Breanna Hathaway, posted Friday on Facebook that her nephew was home, healthy and smiling ― and had quite the tale to relate about his experience.

“He said he hung out with a bear for two days,” Hathaway said.

She was willing to roll with the story, saying, “God sent him a friend to keep him safe. … Miracles do happen.”

In another post, Hathaway said Casey likes to watch “Masha and the Bear,” a show about a girl who lives in the woods with a paternal bear who keeps her safe.

Craven County Sheriff Chip Hughes said at a news conference Thursday that search crews found Casey wet, cold and tangled in vines, but not seriously injured.

He was “a little lethargic, but warm,” when he was found, Hughes told WCTI-TV in an interview. The sheriff said Casey “wanted water and his mom” when he was found.

The boy “didn’t really get into... how he was able to survive,” though he did mention “having a friend in the woods who was a bear,” the sheriff added, without commenting further on that scenario.

There were no signs of abduction, Hughes said.

Read more: https://www.huffingtonpost.com/entry/3-year-old-missing-alive-bear_us_5c4e10e8e4b06ba6d3be269c

Wild road rage incident captured on video

Lee Enterprises to buy Kenosha News, Lake Geneva Regional News

STEPHANIE JONES Stephanie.jones@journaltimes.com

2 hrs ago

RACINE — Lee Enterprises, which owns The Journal Times, announced Monday morning that the company has reached an agreement to purchase the print and digital assets of the Kenosha News and the Lake Geneva Regional News.

Mark Lewis, the publisher of The Journal Times, will become the president and publisher of the new media group.

“It’s a great benefit to our readers, advertisers and our communities. With expanded resources we can cover more news and with expanded circulation we can provide advertisers with more options,” Lewis said. “The editorial departments will remain independent and allow us to maintain a strong focus on local issues.”

The Kenosha News publishes seven days a week and has an average daily print circulation of about 20,000. The Lake Geneva Regional News publishes weekly. The sale is expected to close on Thursday, with the new ownership starting Friday, Feb. 1.

Read more: https://journaltimes.com/news/local/lee-enterprises-to-buy-kenosha-news-lake-geneva-regional-news/article_627753ae-0bd8-56bc-9460-54b73c3866e1.html#tracking-source=home-top-story

Municipal Judge Rebecca Mason to step down

Mason

2 hrs ago

RACINE — City of Racine Municipal Judge Rebecca Mason announced that she will step down from her post.

The announcement was made Monday via Mason's personal Facebook page. "It has been my privilege to serve as City of Racine Municipal Judge for the last 2½ years," the post states. "I am honored to have been appointed by this City Council and elected twice with overwhelming support of the voters from the city that I love so much."

The local attorney and wife of Mayor Cory Mason was initially appointed to the position in 2016 to replace Mark Nielsen, who was elected as a circuit court judge. She was then elected to the post in an unopposed race in 2017, and won re-election to a four-year term last April.

According to the post, Mason said her resignation was prompted by dedication to her family and clients and taking her career "in a different direction." Mason said she will step down effective Feb. 22.