Foxconn Puts Its Empty Buildings In Wisconsin Up For Sale (theguardian.com) 73
The Verge's Nilay Patel writes: Hey, remember when Foxconn bought a bunch of buildings around Wisconsin just before an election and said it was building "innovation centers" around the state in a transparent attempt to build support for the giant tax credits it was given to build an LCD factory that never arrived? Yeah, it's selling two of those buildings. The news was first reported by Wisconsin Public Radio, which got a quote from Foxconn saying that "selling its Green Bay property, known as the Watermark building, will add to the vibrancy of the city's downtown." Very good.
they know the packers are done for go bears! (Score:3, Funny)
they know the packers are done for go bears!
Well (Score:3, Interesting)
Is part of the money from the sale going to pay back the tax credits?
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They must have determined, that even with the tax credit, it was unprofitable to make their wares in the United States. Maybe there were too many existing regulations? Maybe the cost of power was offsetting?
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I'm not sure what Foxconn got out of all of this, that part does confuse me. What they received doesn't seem worth all the fuss. It could be as you say, or it could be that they determined that they wouldn't be able to meet deadlines to receive the tax credits, or s
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Well, sure, obviously. There was very much a big Trump bullshit propaganda campaign around it.
But why would Foxconn care about that? The question was what they got out of it. A few million of government money for lots of posturing and misdirection that reduces their credibility seems like a poor investment for a thriving manufacturing company. So what were they hoping to get out of it?
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Influence in local, state, and federal governments? Kickbacks? Promises from certain parties that needed the narrritive?
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Re:Well (Score:5, Informative)
Did they earn the tax credits? It would be hard to believe that the government would give them money upfront.
We have to remember, the Foxxcon deal was part of Trump's "America First" agenda. So it is a real Rabbit hole as far as figuring out finances and taxes.
What it definitely is, is a failure. https://www.cnbc.com/2021/04/2... [cnbc.com]
Re:Well (Score:5, Interesting)
I love how the butthurt Trumpers mod this stuff down. Looks like Foxconn understood Art Of The Deal better than Trump.
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I love how the butthurt Trumpers mod this stuff down. Looks like Foxconn understood Art Of The Deal better than Trump.
At least they've quit whining about Solyndra.
And Hillary's emails
And after we go after Security threat It could only be Jared's billion dollar gift from Saudi Arabia, they'll maybe stop whining about Hunter Biden's laptop.
But they'll still be wanting to see his weenie. Weenies are i very important to them. Just like MTG groped a cardboard cutout of Trump.
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I love how the butthurt Trumpers mod this stuff down. Looks like Foxconn understood Art Of The Deal better than Trump.
What they understood was that Biden won the election and would not do a damn thing to them, unlike Trump. Sort of like the Taliban also backed off all their promises knowing Biden would do nothing. Same thing, everyone knows what a pushover we have now.
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The Taliban was not going to suffer any harm when the guy who SURRENDERED left office.
Trump had an agreement that required the Taiban to share power with the existing government. Go read the agreement yourself.
Biden would not have broken the agreement by taking more time, the agreement was already broken by the Taliban through their attacks on the government. This by the way is dissembling by Biden. His totally inept management was not leaving Afghanistan, that was fine, it was how he left. He choose to pull out the military first. Complete idiocy. Then he drones a wedding party to demons
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Trump had an agreement that required the Taiban to share power with the existing government.
and NO enforcement Go read the agreement yourself.
tRump tried to lock Biden into a losing war, he was far too smart
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Trump had an agreement that required the Taiban to share power with the existing government.
and NO enforcement Go read the agreement yourself.
I have. Actually reading it myself is what my comments are based upon.
The enforcement is that if you don't live up to it then we don't need to and our aircraft can go back plinking every vehicle you put on a road or any group of 3 or more fighters standing somewhere.
Look at Iraq. When did ISIS take over portions of Iraq, when did Iraqi troops flee? When the US pulled air support. When it abandoned the Iraqi troops.
When did Iraqi troops stand up to ISIS and defeat them, when they got air support once
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Is part of the money from the sale going to pay back the tax credits?
No, it's going to Jared and Ivanka, except for the 75 percent going to pay off Daddy's legal expenses.
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They didn't get tax credits because the tax credits were revoked by the current governor.
It was a great Con. Fox Con. (Score:5, Insightful)
FoxConn sure conned the Republican governor of Wisconsin and got a buttload of money for their new industrial plants... er large TV plants... er, office space, er... yesterday's sale of property.
Our politicians bend over backward to suck up to everyone so long as they get their donations and ring-kisses. We the taxpayers lose.
https://www.jsonline.com/story... [jsonline.com]
Every time.
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US Politicians lied to farm donations and elections. US public trust was further eroded. You may not agree or care, but that's irrelevant. -1
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The erosion started long before this, and will continue long after this. But it's still part of the erosion, and erosion doesn't magically fix itself just because each individual erosion incident is comparatively small.
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To be fair, he said "eroded". You do know erosion doesn't normally happen in one big event, right? Over time it accumulates and wears down the highest mountains.
Well, to be really fair, this was pretty obviously a political stunt from the start. The numbers were weird - like they were picked out of a hat. The players were shall we say - interesting. The tying of the thing to "America First" was off at best. Much more accurate to note that it was just corporate welfare
It was gonna fail, anyone who could think critically without being smitten Trump and and Walker's bafflegab syndrome could see that.
Re: It was a great Con. Fox Con. (Score:2)
D and R supporters will always vote D and R. The rest of us will shake our heads and wish the corruption would end.
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Nope. Eroded means there was something to erode. D and R supporters will always vote D and R. The rest of us will shake our heads and wish the corruption would end.
Which is why independents such as myself often determine the winners.
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There was no "Deal" it was entirely a PR move, Foxconn signed NOTHING with any burden on them to provide jobs or training or production
The previous president would likely have considered verbal assurances to be a deal.
Re:It was a great Con. Fox Con. (Score:5, Informative)
Foxconn did receive some tens of millions of dollars that way, though a tiny amount compared to what they were promised. The thing that really outraged people is what they were promised, and also certain regulations which were swept aside for their sake. Like limitations on smog, which they were exempted from.
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And?
Well, like I said above, the outrage what was they tried to do. Not what they actually succeeded in doing.
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And?
Well, like I said above, the outrage what was they tried to do. Not what they actually succeeded in doing.
Which is why no-one should ever be charged with attempted murder, right? Guys, right?
"We tried to break the law, but we weren't very good at it so lets just forget the whole thing".
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Wisconsin also paid for the utilities to be delivered, new pumping stations from Lake Michigan, new roads, railroads, etc., all brought in with the promise of this project. It was several more millions than just the cash payments that were wasted by the state to win this project.
Re: It was a great Con. Fox Con. (Score:2)
Won't those things be useful for the next buyer?
It was an investment that improved the value of the land Foxconn bought, and now hopes to sell (at least part of it).
Re:It was a great Con. Fox Con. (Score:4, Informative)
Touted as bring manufacturing jobs back and Making America Great Again. https://trumpwhitehouse.archiv... [archives.gov]
People were forced out of their homes for this debacle. https://www.theverge.com/23030... [theverge.com]
Wisconsin promised more than $4 billion in tax credits to Foxconn, cleared land by pushing people out of their homes, and diverted water from Lake Michigan to support the factory. A lot of people got excited about this promised American manufacturing renaissance and left good jobs to join it.
Even went as far as diverting Lake Michigan. The grifters got grifted.
Re: It was a great Con. Fox Con. (Score:2)
How do you 'divert' a lake? Lakes don't flow, rivers do - you can divert a river, not a lake.
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So nothing happened. No money was gained or lost by anyone and some land was left idle.
The promise of an LCD factory would have spurred development in adjacent properties. Local infrastructure was likely also upgraded to ensure the large number of workers could actually get to work. In total, the value of adjacent properties likely increased a fair bit due to local investors wanting in early. And as a result of that investment, now FoxConn can sell the property at a nice profit due to the increased value of the location.
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No money was gained or lost by anyone and some land was left idle.
Who paid for maintaining the roads leading to the vacant building? Who paid for the cops to be on call to evict any squatters that might show up? Hint: it wasn't foxconn.
At no point was it a con job (Score:2, Informative)
It's a pretty common cycle their party does and they've been doing it since I think the 60s. Make an economic promise that you are going to
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And which Republican EXACTLY profited off the Foxconn deal? You have the records of transactions between Scott Walker and Foxconn? Or are you just spouting nonsense because it fits a narrative?
Meanwhile there's someone writing multiple books on the subject who has something to say about it:
https://www.theverge.com/23030... [theverge.com]
You're awfully naive (Score:2)
That is how we do bribes here in America. Nice and legal. Like the mob but without the sense of honor or Cannoli.
Re: You're awfully naive (Score:2)
Walker, for example, is working for the "Young American's Foundation".
OK, now you need to connect "Young American's Foundation" to the Foxconn project - how did YAF profit from this to divert some of those funds to Scott Walker?
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Yes, and as soon as the former alleged president caught wind of it, he hi-tailed it to Wisconsin promising the Sun, the Moon, and Stars from this sainted plant.
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On a related note, the founder of Foxconn is standing for election as the President of Taiwan, and wants to suck up to China if he wins.
Re: It was a great Con. Fox Con. (Score:2)
And his political ambitions relate to this land deal in Wisconsin how, exactly?
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Not really, the Wisconsin legislature put up financial guarantees for Foxconn which the next governor retracted leaving Foxconn with no viable path to go forward and build profitable industry in the area. Foxconn didn't receive much of anything, they got a tax break, which means they would've paid less taxes on property, employees would still pay income and property and sales taxes. Now they simply will pay no taxes because there are no tax breaks, there are no jobs. Good job Democrats!
Regulation in the Wes
Red Hats plus Red Flags (Score:1)
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The manufacturing project became infamous when former President Trump broke ground at the site...and red flags, not just red hats. became immediately apparent. Foxconn's buildings in Wisconsin were always empty, even though the company insisted they weren't.
My guess? Once Wisconsin's electoral votes failed to materialize for Trump, there was no reason to continue the con.
Link? (Score:3)
The links go to the wrong story.
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One of the links is correct: https://www.wpr.org/foxconn-se... [wpr.org]
But yeah.
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I'm wondering if they installed suicide nets on the building perimeter, like they do in Taiwan?
Wrong country.
Those Foxconn facilities that had all the suicides and installed suicide nets were in Shenzhen, China, not Taiwan. Taiwan, a unitary semi-presidential republic, is a separate island country in the northwestern Pacific Ocean, southeast of the People's Republic of China.
Re: Suicide nets outside the building (Score:1)
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We can dream that some day, the CCP will collapse, and what remains of the PRC will beg the Kuomintang for stable governance. But that is not likely to happen anytime soon, if ever.
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Re: Suicide nets outside the building (Score:2)
Why would empty buildings require safety nets?
Oh, how sad (Score:2)
Well color me SHOCKED and put money in my pocket.
Re: Oh, how sad (Score:1)
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Republicans love corporate welfare.
Every politician loves corporate welfare. They may prefer different companies but they all give money to their supporters.
We the voters should be much more skeptical the next time Senator Krupt touts how this or that handout is an "investment in the future" because "future" means "my next election".
Malice or Incompetence? (Score:1)
Does Trump get a 10% resale fee (Score:2)