President Trump saving jobs, and not even in office yet!

[jgoose71 0]

Carrier Air-conditioning has already announced that plants that they were getting ready to move to Mexico will not be going.... and he is not even in office yet! I wonder what else a President Trump will do for the American people!

http://www.nytimes.com/2016/11/29/business/trump-to-announce-carrier-plant-will-keep-jobs-in-us.html?_r=0

The thing that does have me worried is the infastructure spending that he is proposing. We know how the Obama stimulus package went. Hopefully instead of dog parks and shit, he will actually replace worn out water pipes and stuff in places like, oh, I don't know, Michigan?

http://www.washingtontimes.com/news/2016/nov/29/trump-indicates-hes-serious-infrastructure-spendin/

We'll see. Time to start rebuilding America.

"There is an art, it says, or, rather, a knack to flying. The knack lies in learning how to throw yourself at the ground and miss."
Life, the Universe, and Everything

[PhreeZone 14]

The union representing the workers is unaware of the terms of the deal so I am curious as to what incentives the State offered up since it was Pence that signed it.

Word was that it was extremely heavy tax incentives and dropping of some of the claw back money that they were getting for retraining workers since it was sounding like 700 of the 1700 positions were still likely to be eliminated. What the final deal looks like will be an interesting conversation.

If the spending bill comes forward I see a lot of republicans being put into a really hard spot about trying to be fiscally responsible and slash the debt will at the same time agreeing to spend 1 trillion dollars with out a funding mechanism in place for it. Do they become the new "Tax and Spend" party?

Yesterday is history
And tomorrow is a mystery

Parachutemanuals.com

[ryoder 1,381]

And the story gets more interesting: http://www.indystar.com/story/news/politics/2016/11/30/federal-contracts-likely-biggest-factor-carrier-deal/94670496/

"There are only three things of value: younger women, faster airplanes, and bigger crocodiles" - Arthur Jones.

[gowlerk 1,903]

Owned by UTC, same as Pratt and Whitney. This kind of pressure is definitely not business as usual. This is hardball. UTC will be expecting something, and the Mexicans are going to be pissed. But those are just the kind of jobs everyone hates to lose and without Trump they would have been gone. You can not deny that.

Always remember the brave children who died defending your right to bear arms. Freedom is not free.

[tkhayes 124]

jobs saved by spending Indiana tax dollars to keep them with no way to recoup that money. Trump himself said he would penalize companies that moved jobs out - instead, he gives them bonuses to stay in....

At least Pence will not have to deal with the tax shortfall himself - he can now quietly leave that mess to someone else.

[normiss 620]

"Trump and Pence are scheduled to hold an event at 2 p.m. Thursday at the Carrier plant in Indianapolis to announce the deal. The event is not open to the public."

Wonder what press will be allowed, if any.

[JerryBaumchen 1,047]

Hi Mark,

Quote

The event is not open to the public.

I think we should get used to this.

Trump's first press conference should be a doozy.

Jerry Baumchen

[SkyDekker 1,121]

JerryBaumchen

Hi Mark,

Quote

The event is not open to the public.

I think we should get used to this.

Trump's first press conference should be a doozy.

Jerry Baumchen

I have a feeling there won't be many.

[billvon 2,384]

From the article:

"The state of Indiana plans to give economic incentives to Carrier as part of the deal to stay, according to local officials."

Trump in October:

"I've been watching these politicians go through this for years. I've been watching them give low-interest loans. I've been watching them give zero-interest loans. These companies don't even need the money, most of them; they take the money. There were a couple of instances where geniuses with great lawyers gave them money and then they moved anyway…I mean, the whole thing is crazy."

Trump in August:

"Over the years, I've watched, for years, for 10 years, for 12 years, for 15 years, beyond Obama, and I've watched as politicians talked about stopping companies from leaving our states. Remember, they'd give the low-interest loans. Here's a low-interest loan if you stay in Pennsylvania. Here's a zero-interest loan. You don't have to pay. Here's a this. Here's a tax abatement of any kind you want. We'll help your employees. It doesn't work, folks. That's not what they need. They have money. They want to go out, they want to move to another country, and because our politicians are so dumb, they want to sell their product to us and not have any retribution, not have any consequence. So all of that's over."

[gowlerk 1,903]

UTC did not change their minds because of incentives from the city or state. They caved because they are a large defense contractor and they want to continue doing 6 billion a year with the feds.

It's not a good time for a corporation in their position to fight over this. If Carrier were not part of this group and instead an independent company they would have moved the production.

Their parent is making them do what is good for UTC instead of what is good for their Carrier unit.

Always remember the brave children who died defending your right to bear arms. Freedom is not free.

[billvon 2,384]

>UTC did not change their minds because of incentives from the city or state. They caved because they
>are a large defense contractor and they want to continue doing 6 billion a year with the feds.

You have just listed the two primary reasons they caved.

One was that they feared retribution. However, since UTC is a publicly held company, they needed a better reason than that to justify to shareholders. The ostensible reason they could give was short term increases in profits driven by the incentives that Trump formerly railed against.

[normiss 620]

It would appear the workers now basically have the day to do nothing but get paid for it based on some news tweets.
Must be a union shop.

[normiss 620]

If this is the type of speech we have to look forward to, I'm embarrassed for us as a country.

This guy is a dolt.

[kallend 1,621]

So now corporations know that they can get taxpayer funded handouts if they just threaten to move jobs overseas.

Nice precedent.

...

The only sure way to survive a canopy collision is not to have one.

[ryoder 1,381]

kallend

So now corporations know that they can get taxpayer funded handouts if they just threaten to move jobs overseas.

Nice precedent.

Trump Warns That Companies Shipping Jobs Overseas Will be Slapped With Enormous Bribes
-- Andy Borowitz

"There are only three things of value: younger women, faster airplanes, and bigger crocodiles" - Arthur Jones.

[Elisha 1]

Yeah, I'm sure the deal stinks...but at least Mexico isn't happy about it!

http://finance.yahoo.com/news/mexico-disappointed-carrier-agreement-keep-232858468.html

[SkyDekker 1,121]

Well if Mexico isn't happy, that is obviously the most important thing.

[Elisha 1]

Most important? I said "at least", which implies a possible marginal "good thing". There's no "most important" implied anywhere.

[ryoder 1,381]

Seems someone is calling this "crony capitalism".
And you'll never guess who:

http://www.youngcons.com/sarah-palin-but-wait-the-good-guys-wont-win-with-more-crony-capitalism/

"There are only three things of value: younger women, faster airplanes, and bigger crocodiles" - Arthur Jones.

[billvon 2,384]

There goes her cabinet post!

[ryoder 1,381]

billvon

There goes her cabinet post!

Or...considering it is the VA, he might try to make her take it as punishment.

"There are only three things of value: younger women, faster airplanes, and bigger crocodiles" - Arthur Jones.

[SkyDekker 1,121]

ryoder

Seems someone is calling this "crony capitalism".
And you'll never guess who:

http://www.youngcons.com/sarah-palin-but-wait-the-good-guys-wont-win-with-more-crony-capitalism/

Not too often I say that I agree with Palin, but in this case I do.

[PhreeZone 14]

Looks like in addition to Carrier getting $7 Million in tax breaks they will be eliminating a lot of the positions after all in the next few years.


In an interview with CNBC’s Jim Kramer, the C.E.O., Greg Hayes was blunt.

“We’re gonna make up $16 million investment in that factory in Indianapolis to automate to drive the cost down so that we can continue to be competitive. Now is it as cheap as moving to Mexico with lower cost labor? No. But we will make that plant competitive just because we’ll make the capital investments there.”

MR. CRAMER: “Right.”

MR. HAYES: “But what that ultimately means is there will be fewer jobs.”

He also confirmed that he feared standing up to the president-elect could be very costly to his conglomerate, which includes a lot of defense work.

“There was a cost as we thought about keeping the Indiana plant open. At the same time — and I’ll tell you this because you and I — we know each other, but I was born at night but not last night. I also know that about 10 percent of our revenue comes from the U.S. government.”

Yesterday is history
And tomorrow is a mystery

Parachutemanuals.com

[ryoder 1,381]

The obvious solution for United Technologies is to sell off Carrier.

"There are only three things of value: younger women, faster airplanes, and bigger crocodiles" - Arthur Jones.

[PhreeZone 14]

They just sold off their Helicopter division to Lockheed so they know how to do spin offs and Carrier is not a large profit center for them so I would not be surprised if it happened.

Yesterday is history
And tomorrow is a mystery

Parachutemanuals.com