Wisconsin Economist Questions Foxconn Deal

Terry Gou Chairman of Taiwan’s Foxconn also known as Hon Hai listens during a press conference in New Taipei City on June 22

Representative Gordon Hintz is optimistic about the Foxconn deal, but hopes the incentive package comes with at least some requirements. The memorandum says Foxconn commits to investing $10 billion in Wisconsin and create 13,000 jobs over six years. "In other words, if I didn't get elected, he definitely wouldn't be spending $10 billion dollars", Trump said. "This is a great day for America".

Governor Scott Walker spoke Thursday about the company moving to Wisconsin and directly addressed people that are skeptical of the the potential $3 billion in tax breaks the move would give the company. About half is for capital costs and almost half for workforce development. Foxconn would also be allowed to skip another $150 million in sales tax on material purchases like building goods.

Foxconn, formally known as Hon Hai Precision Industry Co Ltd, said in a statement that the investment "signifies the start of a series of investments by Foxconn in American manufacturing in the coming years". "If the administration did decide they wanted to target something, Foxconn could say "Go after someone else's products rather than ours because we're helping you".

In 2013, the company announced plans to build a $30 million plant that would employ 500 workers in central Pennsylvania. It was billed as the first official step toward what would be the largest economic-development project in state history, if completed.

Trump targeted Apple during his election campaign, promising to force the Cupertino, California-based company to bring more factory jobs to the US. "Herzing's Kenosha and online campuses, as well as locations in nearby Brookfield and Madison, are a nimble and employer-responsive, partnering with regional organizations in Wisconsin and Northern Illinois to educate and train a growing workforce".

Inder Kumar, Salman Khan's 'Wanted' Co-Star, Dies At 43
In his whole career, Inder Kumar had worked in 21 movies and now was working for a movie too. The cremation is scheduled to be held at Yaari Road, Shamshaan Bhoomi on Friday at 6 pm.

"Foxconn is doing its best to try to head off a trade war and they're obviously being quite strategic in terms of making their investment in house speaker Ryan's home district and thereby trying to gain goodwill", said Mark Wu, an assistant professor at Harvard Law School who serves on the World Economic Forum's Global Future Council on Trade and Foreign Direct Investment. Some of those announcements sought to take credit for previously announced investments.

"It's a degree of corporate welfare I don't think Wisconsin has ever experienced", Larson says. "The bottom line is this company has a concerning track record of big announcements with little follow-through".

Walker said Wednesday that Foxconn workers in Wisconsin will make an average salary of more than $53,000, plus benefits.

Overall only 8 per cent of United States workers are employed in manufacturing, down from 22 per cent in 1970 due to the impact of technological change and the growth of global supply chains.

The agreement signed Thursday, a memorandum of understanding between the state and Foxconn, says public officials in Wisconsin will help the company assemble a construction site of more than 1,000 acres. Apple did not comment.

Related News:

  • Paulo Dybala: 'I'm happy at Juventus'

    Paulo Dybala: 'I'm happy at Juventus'

    But the Italian side couldn't claim the trophy, beaten 4-1 by Real Madrid in the Cardiff final in early June. First, you find out the first official confirmation that Neymar is moving to Paris Saint-Germain .
    BJP Office Allegedly Attacked by CPI(M) Activists in Thiruvananthapuram, Workers Vandalise Houses

    BJP Office Allegedly Attacked by CPI(M) Activists in Thiruvananthapuram, Workers Vandalise Houses

    Chief Minister Pinarayi Vijayan should explain and order a probe into "conspiracy of police officials in the attack", he said. A number of clashes broke out between CPM and BJP workers on Thursday late night in Thiruvananthapuram .
    3 arrests in sex work ring across Nevada, California, Texas

    3 arrests in sex work ring across Nevada, California, Texas

    Quinton Brown, Gerald Turner and Mia McNeil are accused of coercing girls and young women online, turning them into sex slaves. Turner is facing six felony counts human trafficking on minors and pimping and pandering, Becerra said.
  • Gowdy: If I Were Jeff Sessions, I Wouldn't Stick Around

    Does he have support in the justice department? This transcript has been automatically generated and may not be 100% accurate. A source close to Sessions' team told the Washington Examiner the attorney general had no immediate plans to resign.
    Samsung Pay might be heading to non-Samsung phones

    Samsung Pay might be heading to non-Samsung phones

    The favourable reception of Samsung's Galaxy S8 and S8 Plus has indeed translated into good n terms of sales and profits . The most impressive fact is that Samsung's mobile division estimated for 29 percent of the company's profits this year.
    Russia Orders US Embassy Staff Cuts in Sanctions Retaliation

    Russia Orders US Embassy Staff Cuts in Sanctions Retaliation

    Russia's retaliation, outlined in a statement from the Foreign Ministry, came a day after the Senate voted to slap new sanctions on Russian Federation .
  • Dowry law: First examine complaint then arrest SC says in landmark verdict

    Dowry law: First examine complaint then arrest SC says in landmark verdict

    The Court also stated that impounding of passports and Red Corner Notices for people residing overseas should not be a routine. The top court directed that a designated police officer should be appointed to deal with complaints under Section 498A .
    WhatsApp for Android beta adds App Shortcuts: Here's how to use

    WhatsApp for Android beta adds App Shortcuts: Here's how to use

    Especially so because the Facebook-owned company just announced that it has over 250 million daily users on the Status feature. The multi-faceted app can be used for sharing texts, photos and videos , as well as connecting via voice and video calls.
    Twitter, Inc. (TWTR) Rating Reiterated by Cowen and Company

    Twitter, Inc. (TWTR) Rating Reiterated by Cowen and Company

    The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link . Canaccord Genuity reissued a "hold" rating and set a $15.00 target price on shares of Twitter in a research note on Monday.
  • UPSC declares result of civil services prelims examination

    UPSC declares result of civil services prelims examination

    The candidates are requested to visit the Commission's website (http://www.upsc.gov.in) for updates in this regard. After which the candidates will need to enter their details which are available on the hall ticket.
    Huawei Mate 10 will be 'even more powerful' than the new iPhone

    Huawei Mate 10 will be 'even more powerful' than the new iPhone

    The CEO also confirmed that the Mate 10 will sport a better camera and it will be equipped with long lasting batteries as well. Richard also added that they are discontinuing the lower end Huawei devices as they are not making enough profit out of them.
    Israeli measures in Jerusalem 'illegal': Arab FMs

    Israeli measures in Jerusalem 'illegal': Arab FMs

    Israeli police said officers had responded after stones were thrown at officers at the gates to the site. On July 14 two Israeli police officers were shot just outside the compound by three Palestinians.

Most liked

Warner Bros. Planning Ground-Breaking Oscar Campaign For Wonder Woman
The studio is also vying for Jenkins to land a nomination for the best director category. Justice League is due to be released in United Kingdom cinemas on November 17 2017.

Can CenterPoint Energy, Inc. (NYSE:CNP) Go The Extra Mile?
Stock market analysts watching Energy Transfer Equity, L.P. (NYSE:ETE) have recently changed their ratings on the stock. Bank of Montreal Can raised its position in shares of Energy Transfer Equity, L.P.by 35.9% in the second quarter.

Dortmund allow Merino to discuss transfer as Newcastle move nears
Newcastle manager Rafa Benitez added: "Mikel is a midfielder with talent, an U21 global for Spain ". The 21-year-old only joined the German outfit last year, arriving from Osasuna for a €3.85m fee.

Indian Women's Cricket Team felicitated by the Sports Minister in New Delhi
Indian media have been ignoring their achievements for a long time, and now, their voice can not be silenced anymore. Harmanpreet Kaur was undoubtedly the biggest star for the Indian women's cricket team during the recent World Cup.

Axis Bank is all set to buy FreeCharge for Rs 400 crore
The bank has continued to leverage its strong retail franchise, resulting in a year-on-year growth of 19% in the retail portfolio. As far as net NPAs are concerned, it stood at 4.86% during the quarter compared with 3.01% in Q1FY17 and 4.89% in Q4FY17.

Shania Twain Shines in New 'Life's About to Get Good' Video
The album is the long-awaited follow-up to 2002's Up! " Life's About to Get Good " makes you believe every word from the singer. He "really loved this one particularly, he responded so enthusiastically to it", she tells Taste of Country Nights .

IN officer dies after shot multiple times
That person and a second occupant, who was injured in the crash, were taken the hospital and were being held there by the police. A Southport Police Department officer has been shot along Madison Avenue in a residential area in southern Marion County.

Juniper Networks, Inc. (NYSE:JNPR) Technical Analysis and Chart Patterns
Over the last five days, shares have faced -4.46% losses and now is up 0.78% since hitting its 200-day moving average of $28.53. Acrospire Investment Management LLC increased its stake in shares of Juniper Networks by 837.8% in the first quarter.

Rahane and Pandya pile on runs as India near massive lead
Nuwan Pradeep was the only successful bowler for Sri Lanka , as he picked up all the 3 Indian wickets on the day. Perera hit Ravichandran Ashwin for a six and took a single off the next ball to bring up his fifth test fifty.

Indian NIA summons Syed Ali Gilani's son for questioning
The Kashmiri separatists have made fortunes for themselves and family for leading the separatism in the Valley and state. Top separatists such as Malik, Geelani and Mirwaiz Umer Farooq are alleged to be the main beneficiaries.

In Apparent De-escalation, Abbas Calls For Return To Prayer In Al-Aqsa
Three Palestinians protesters were killed and hundreds of others were wounded last Friday in violent clashes with Israeli forces. The demonstrations often turned into clashes between Palestinian protestors and Israeli soldiers, fueling a wave of unrest.

Would you use Samsung Pay on your non-Samsung smartphone?
All of Samsung's Galaxy-branded phones that support Samsung Pay come with a special component dedicated to the MST technology. Competing services Android Pay and Apple Pay don't offer a similar functionality, and work only with NFC-enabled terminals.

Samsung may bring Samsung Pay to other high-end phones
That said, outside companies will have to add a specialised chip in order to enable the use of MST technology and support Samsung Pay .

Samsung Galaxy Note 8 to have 256 GB, Emperor Edition in pipeline
Those other products helped the South Korean tech giant post record profits for the second quarter . What's also interesting about Samsung's wording is the "marketing expenses" reference.

Credit Suisse AG Cuts Position in GlaxoSmithKline PLC (NYSE:GSK)
Heritage Trust Co bought a new position in shares of GlaxoSmithKline PLC during the first quarter worth about $123,000. J P Morgan Chase & Co reissued a "neutral" rating on shares of GlaxoSmithKline PLC in a report on Wednesday, May 31st.