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Tag Archives: Foxconn

Outfoxed and conned, part 2

I grew up in Wisconsin and still have warm feelings for the state (where it was recently 26 below zero.) Thus I’m sad to see my concerns about the new Foxconn manufacturing plant come to pass.  Here’s Tim Culpan of Bloomberg: Then-Governor Scott Walker, backed by President Donald Trump, loved exactly what he sold: the promise of thousands of jobs to make stuff in the U.S. Walker loved it so much that he pledged as much as $3 billion in sweeteners, a deal that likely...

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Foxconn Interns Worked Illegal 11-Hour Shifts To Meet iPhone X Demand

Apple and Foxconn have a well-documented history of labor abuses ranging from underpaying employees to compulsory over time that have been blamed for a slew of deaths and suicides among Foxconn's workforce. These abuses were widely covered in the media around 2012 but largely disappeared from the headlines after Apple CEO Tim Cook said he would pressure Foxconn into adopting more humane labor conditions. But apparently the unprecedented production problems that plagued the company's rollout...

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Foxconn To Get $230,000 In Incentives For Every Wisconsin Job Created

To much fanfare, President Donald Trump on Wednesday announced that Taiwanese electronics giant Foxconn, best known for making the iPhone, will build a new plant producing LCD panels in Wisconsin that will bring thousands of jobs to the state. On the surface it's a great deal: in what's being called the largest economic development project in state history, Foxconn plans to build a $10 billion plant that will eventually employ as many as 13,000 people, according to the White House and Gov....

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SoftBank Vision Fund Reaches $100BN As Apple, Oracle and Qualcomm Make Investments

Back in October, Masayoshi Son, Chairman & CEO of SoftBank Group Corp., announced the creation of the SoftBank Vision Fund, a UK-based technology fund, with a $45 billion capital commitment form the Public Investment Fund of the Kingdom of Saudi Arabia.  The initial press release for the Vision Fund announced the company expected to invest at least $25 billion over the next 5 years and said that overall funding could reach $100 billion.  Since Donald Trump won the US presidential...

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Tech Summit with Donald Trump Is Full of Shit (Video)

By EconMatters These Tech CEO`s creating more jobs means more Foxconn manufacturing jobs to keep those corporate margins, and more H-1B Visas for programmers from low cost countries like India and Pakistan. Everything about this Tech CEO Summit with Trump is Fake as a $4 Bill! Those of you who think Donald Trump is going to drain the swamp, just look at his daughter outsourcing manufacturing jobs and his Goldman Sachs Cabinet picks. Same old tune, just a different verse. Washington...

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Foxconn Fires 25% Of India Workers As Demonetization Destroys Sales

While piecemeal anecdotes and surveys have already exposed the devastation that PM Modi's demonetization plan has had on the Indian economy, tonight we see the first hard evidence as Foxconn has asked 25% of its workforce to leave after the cash ban caused sales to collapse by 50% forcing the company to slash production by half. Amid social unrest and loss of faith in the nation's currency, India's economy has ground to a halt with its Composite PMI crashing by a record in the last month...

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Trump Pushes Apple CEO To Manufacture In US; Promises “Very Large Tax Cuts”

Submitted by Joseph Jankowski via PlanetFreeWill.com, While speaking with the New York Times, President-elect Donald Trump said that he received a call from Apple’s Tim Cook on Monday in which he pushed the CEO about bringing manufacturing jobs back to the United States. “I got a call from Tim Cook at Apple, and I said, ‘Tim, you know one of the things that will be a real achievement for me is when I get Apple to build a big plant in the United States, or many big plants in the United...

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