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United Technologoes CEO: "there will be fewer jobs"

Axulus

Veteran Member
Joined
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Hallandale, FL
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Right leaning skeptic
GREG HAYES: Right. Well, and again, if you think about what we talked about last week, we're going to make a $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 of labor? No. But we will make that plant competitive just because we'll make the capital investments there.

JIM CRAMER: Right.

GREG HAYES: But what that ultimately means is there will be fewer jobs.

http://finance.yahoo.com/news/ceo-united-technologies-just-let-231538059.html

Whites in the rust belt, you guys fell for the Art of the Con.

The comments to the article are priceless. I think this is the first time I've seen the Trumpites silent, with their tails tucked between their legs.
 
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GREG HAYES: Right. Well, and again, if you think about what we talked about last week, we're going to make a $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 of labor? No. But we will make that plant competitive just because we'll make the capital investments there.

JIM CRAMER: Right.

GREG HAYES: But what that ultimately means is there will be fewer jobs.

http://finance.yahoo.com/news/ceo-united-technologies-just-let-231538059.html

Whites in the rust belt, you guys fell for the Art of the Con.

The comments to the article are priceless. I think this is the first time I've seen the Trumpites silent, with their tails tucked between their legs.
Anyone do the math to see what a tariff would need to be to make out of the US labor costs equal to US labor costs?
 
Whites in the rust belt, you guys fell for the Art of the Con.
Losing jobs to low cost labor means the USA losing wealth. But losing jobs to technology means the USA gaining wealth. As intelligent as you seem to be Axulus, I am surprised that you can not grasp that concept.

Anyway we have historically enjoyed higher productivity in the US due to innovation and working smarter. When you produce more widgets you get to be paid more as long as the CEO does not keep it all. Anyway, that's the part of our free market capitalistic system that actually works extremely well. What hasn't worked out so well is how that increase in productivity has become distributed. Nor the fact that cost of productions is somehow deemed to be a freely international trad-able commodity but consumption (such as purchase of lower cost drugs from Canada) is not.

So no one said the world was fair and its not. But since I happen to live in the US, I also prefer what will be good for the US. Yes it's a pretty selfish viewpoint I guess but until someone invents a better kind of system that keeps everyone in the world prosperous without sucking the jobs from "fly over country in the US".... I'm preferring someone like Trump over a globalist free trader any day of the week. And since he has been in business most his life, he probably knows how to talk the talk to get a favorable deal with the trade.

And yes many on this board have made a very fair point that Trump is a chronic big time liar and swindler too, and I get that. But at least he is telling me some lies that I like to hear about fighting unfair trade deals....and that's way better than Hillary ever did. And as far as tarriffs go there really is no such thing as any country that does not protect something or provide subsidies for something else. Its just a matter of priorities of how much better you want your own country to end up relative to others.

We will see what happens as Trump progresses into office, but so far I am very encouraged. More so than I have in a very long time. All I can see from Trump so far he is that he IS the real deal.
 
GREG HAYES: Right. Well, and again, if you think about what we talked about last week, we're going to make a $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 of labor? No. But we will make that plant competitive just because we'll make the capital investments there.

JIM CRAMER: Right.

GREG HAYES: But what that ultimately means is there will be fewer jobs.

http://finance.yahoo.com/news/ceo-united-technologies-just-let-231538059.html

Whites in the rust belt, you guys fell for the Art of the Con.

The comments to the article are priceless. I think this is the first time I've seen the Trumpites silent, with their tails tucked between their legs.
I watched part of ‘The Messy Truth With Van Jones’ last night, and I thought this Trumpster, mentioned below, was probably a good representation of the stupidity. He got quite flustered when Moore pointed out that Trump hasn’t done anything (yet), after the idiot praised Trump for doing more than anyone before. I don’t think the guy liked Moore calling Trump a “malignant narcissist either ;) If these down and out white dudes are soooooo fucking pissed, why are they not tossing out their Congressional critters of either colors?

http://www.vulture.com/2016/12/michael-moore-van-jones-talked-trumps-rise.html
Moore reiterated that he was particularly adept at understanding the working-class voters of Michigan, Wisconsin, Ohio, and Michigan, who were previously a stronghold for Democrats. "I live in Michigan, I don’t live in the bubble,” Moore told Jones. When a fellow Michigan voter spoke to Moore about why he liked Trump — the president-elect's negative stance on NAFTA — Moore agreed with NAFTA's problems, but insisted that he wasn't sure Trump would make the changes necessary. "He has an ideology that he believes in, and it’s called Donald J. Trump. That’s what he’s going to make sure that he’s gonna take care of."

Also the guy whined that no one talks about the trade deals, so Trump has done something new. Hate to tell this fool, but many a Congressional Critter has talked about ‘bad’ trade deals. I think he needs to go back to school and learn something about how our country works. In fact, the approval of NAFTA clearly has one party more against it than another. And most people should remember just how badly the Repugs were punished for the deal… (yeah I know Bill Clinton signed it)
https://en.wikipedia.org/wiki/North_American_Free_Trade_Agreement#Negotiation_and_U.S._ratification
After much consideration and emotional discussion, the House of Representatives passed the North American Free Trade Agreement Implementation Act on November 17, 1993, 234-200. The agreement's supporters included 132 Republicans and 102 Democrats. The bill passed the Senate on November 20, 1993, 61-38.[8] Senate supporters were 34 Republicans and 27 Democrats.
 
I thought this was a funny and ironic point about the scam...
http://www.marketwatch.com/story/wh...ad-2016-12-02?siteid=bigcharts&dist=bigcharts
Hey, Trumpkins — have you worked it out yet? Is the truth dawning on you, or are you still in the dark?

See if you can put it all together from the resumes of those in President-elect Donald Trump’s closest political circle so far:

Treasury secretary nominee Steven Mnuchin: Goldman Sachs.

Chief strategist Steve Bannon: Goldman Sachs.

Transition adviser Anthony Scaramucci: Goldman Sachs.

Commerce secretary nominee Wilbur Ross: Rothschild & Co.

Possible budget director Gary Cohn: Goldman Sachs.

Potential secretary of state Mitt Romney: Bain Capital.

Trump is just getting started. Check out that “swamp draining.” The whole thing is just draining before our eyes! Take that, Wall Street! Take that, “international financial cabal!”
 
Whites in the rust belt, you guys fell for the Art of the Con.
Losing jobs to low cost labor means the USA losing wealth. But losing jobs to technology means the USA gaining wealth. As intelligent as you seem to be Axulus, I am surprised that you can not grasp that concept.

Anyway we have historically enjoyed higher productivity in the US due to innovation and working smarter. When you produce more widgets you get to be paid more as long as the CEO does not keep it all. Anyway, that's the part of our free market capitalistic system that actually works extremely well. What hasn't worked out so well is how that increase in productivity has become distributed. Nor the fact that cost of productions is somehow deemed to be a freely international trade able commodity but consumption (such as purchase of lower cost drugs from Canada) is not.

So no one said the world was fair and its not. But since I happen to live in the US, I also prefer what will be good for the US. Yes it's a pretty selfish viewpoint I guess but until someone invents a better kind of system that keeps everyone in the world prosperous without sucking the jobs from "fly over country in the US".... I'm preferring someone like Trump over a globalist free trader any day of the week. And since he has been in business most his life, he probably knows how to talk the talk to get a favorable deal with the trade.

And yes many on this board have made a very fair point that Trump is a chronic big time liar and swindler too, and I get that. But at least he is telling me some lies that I like to hear about fighting unfair trade deals....and that's way better than Hillary ever did. And as far as tariffs go there really is no such thing as any country that does not protect something or provide subsidies for something else. Its just a matter of priorities of how much better you want your own country to end up relative to others.

We will see what happens as Trump progresses into office, but so far I am very encouraged. More so than I have in a very long time. All I can see from Trump so far he is that he IS the real deal.

You are correct that it is the distribution of the productivity gains that matters. But Trump isn't going to do what is required to change the distribution, it will still go toward profits and nothing toward wages.

Trump proposed the largest tax cut for the rich of any of the Republican candidates. This is saying a lot. It will add five trillion dollars to the debt over ten years and dramatically add to the wealth of the already rich and not increase investment in the US at all. It will increase the current income inequality when we need to decrease it.

There are tens of trillions of dollars in cash in banks all over the world from previous tax cuts for the rich and from the productivity gains diverted from wages in the US over the last thirty five years or so. This is than money that can not be invested in production facilities to produce jobs, it is more money than can be "invested" in the stock market that has gone up 2300% nominal since 1980, savings really, it is money that can't be spent by the individuals who own it because they have run out of things to buy.

The Republicans will use the budget deficit to justify cutting Social Security, Medicare, Medicaid and the other social programs. They will shift even more of the costs of a college education onto the students on top of the 1100% increase in the nominal costs since 1980.

They will cancel ObamaCare, if the insurance companies are willing to give up the 32 billion dollars in subsidies that the government directs to them. But they haven't in six years come up with an alternative that fits their ideology, i.e. feed the rich, that doesn't cost more and delivers less care for the money than the ACA does.

They will try to privatize as many government programs as possible not because the private sector can deliver them more efficiently, they can't, but to try to add further to the incomes of the rich by putting some of the massive amount of excess financial capital into something that pays a greater return than they get on bank deposits.

This is what you also voted for when you voted for Trump. Yes, he talks a good story on the trade deals, but his party and the Congress that they control, thanks to your votes, are dedicated to free trade and trade treaties that cost us jobs but which increase profits.

And this doesn't even touch on the insanity that we are going to have to fight to keep God out of our schools, the damage that will be done to the US Supreme Court, and the damage to the environment from ignoring global warming and from regulation reform that allows corporations to resume polluting, increasing their profits. They are certain to try to rollback the modest reforms put in place after the banks and Wall Street nearly destroyed the world's economy in 2008, giving us the certainty of a repeat of that fiasco in our future.

This is what you have supported with your vote.
 
Losing jobs to low cost labor means the USA losing wealth. But losing jobs to technology means the USA gaining wealth.

No, in both cases the USA gains wealth. But if the operation had moved to Mexico, the wealth gained would have been greater, because that would have produced the greater cost savings and so was the first choice of the company.

The wealth gained either way is whatever improvement takes place that serves the consumers better than before. I.e., it's the service to consumers that matters, because that's what business is all about, not providing jobs to crybabies.


Anyway we have historically enjoyed higher productivity in the US due to innovation and working smarter.

Which includes ANY cost savings, including any labor cost savings, including cheaper labor.


I also prefer what will be good for the US.

Cost savings from cheap labor are good for 300 million US consumers = "good for the US."
 
No, in both cases the USA gains wealth. But if the operation had moved to Mexico, the wealth gained would have been greater, because that would have produced the greater cost savings and so was the first choice of the company.
When jobs go to Mexico, the wealth goes to the Mexican workers which has been transfered from the US. Its not just the first generation of wages that get transfered to Mexico because their paycheck becomes another paycheck for (on average) 7 more Mexican workers. All of that aforementioned wealth to Mexico came from somewhere and it definitely did NOT come from Mexico. You can argue the US should be charitable to the rest of the world and help them get jobs and more prosperity, but you just can not say that wealth is not transferred to those countries from the US.

And if you are still too stupid to see this...just ask yourself honestly the following question: "How did Detroit become to look like a post apocalypse city and Shanghei become to look like the worlds state of the art city with mag lev transportation?" That kind of wealth transfer sure did not happen by keeping good productive manufacturing jobs in the US. And it did not happen because the Chinese all of a sudden knew how to do things better than the US labor force.

Cost savings from cheap labor are good for 300 million US consumers = "good for the US."
You can't buy anything at all unless you have a job.
 
I thought this was a funny and ironic point about the scam...
http://www.marketwatch.com/story/wh...ad-2016-12-02?siteid=bigcharts&dist=bigcharts
Hey, Trumpkins — have you worked it out yet? Is the truth dawning on you, or are you still in the dark?

See if you can put it all together from the resumes of those in President-elect Donald Trump’s closest political circle so far:

Treasury secretary nominee Steven Mnuchin: Goldman Sachs.

Chief strategist Steve Bannon: Goldman Sachs.

Transition adviser Anthony Scaramucci: Goldman Sachs.

Commerce secretary nominee Wilbur Ross: Rothschild & Co.

Possible budget director Gary Cohn: Goldman Sachs.

Potential secretary of state Mitt Romney: Bain Capital.

Trump is just getting started. Check out that “swamp draining.” The whole thing is just draining before our eyes! Take that, Wall Street! Take that, “international financial cabal!”

Even the Rothschilds, the mother of all globalists, have gotten to Trump!. How do the tinfoil Trumpsters process that?
 
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