Foxconn cutting costs citing 'very difficult and competitive' 2019 outlook

[rcjordan]

....amid iPhone sales fears - 9to5Mac

https://9to5mac.com/2018/11/21/foxconn-cut-costs-iphone-sales/


I wonder if Wisconsin is now joined at the hip to Iphone sales?

[Mackin USA]

Fers priced themselves on the way OUT of the market

IMO

[littleman]

I think the lack of Steve Jobs as a visionary and a hype machine may eventually be Apple's undoing.

[Mackin USA]

I agree LM

[rcjordan]

Foxconn may not manufacture anything in Wisconsin after all
https://www.engadget.com/2019/01/30/foxconn-wisconsin-manufacturing-plans/

[littleman]

Since announcing the project, Foxconn (a supplier to Apple and Microsoft among others) has shifted course and said it would build smaller LCD screens. Now, it may even scrap those plans. "In Wisconsin we're not building a factory. You can't use a factory to view our Wisconsin investment," Louis Woo, a special assistant to Foxconn CEO Terry Gou, told Reuters. He said it would be more profitable for the company to make the displays in Japan and China and assemble them in Mexico, rather than build them in the US.

Seems like a 'will not' to me.

[rcjordan]

I know that North Carolina has written business incentive packages in the past that require payback if the promised job targets are not met.  One firm here in town had to pay back $2m because the state called their hand.

I wonder how much $$$ Wisconsin fronted for this deal?  And whether it was secured by contract?

[Brad]

I think Wisc. got played.

[rcjordan]

Related:

Amazon cancels HQ2 in New York after backlash - The Verge
https://www.theverge.com/2019/2/14/18224993/amazon-hq-2-queens-new-york-backlash-pulls-drops


Buzz in my feeds is that some govs are waking up to the concept that these massively incentive packages can't be trusted to perform as promised.

[ergophobe]

I think Wisc. got played.

The municipalities always get played.

Free Lunch: How the Wealthiest Americans Enrich Themselves at Government Expense
https://www.amazon.com/Free-Lunch-Wealthiest-Themselves-Government/dp/1591842484/ref=as_li_ss_tl?ie=UTF8&linkCode=ll1&tag=ultraskiercom-20&linkId=50973e57061e249827d431453ed4fd6b&language=en_US

Johnston, BTW, is a pro-business Republican (or was) and columnist for WSJ.

[rcjordan]

Miss: Shipyard doesn't meet investment target, incentive deal ends
https://www.miamiherald.com/news/business/article226333590.html

[rcjordan]

Progress Has Stalled On Foxconn's Planned Wisconsin Manufacturing Facility
https://wccftech.com/progress-has-stalled-on-foxconns-planned-wisconsin-manufacturing-facility/

[rcjordan]

Wisconsin governor says he wants to renegotiate Foxconn contract - Reuters
https://www.reuters.com/article/us-foxconn-wisconsin/wisconsin-governor-says-wants-to-renegotiate-foxconn-contract-idUSKCN1RT2IN

[rcjordan]

Foxconn will only create 1,500 jobs, says Wisconsin governor - The Verge
https://www.theverge.com/2019/7/10/20689021/foxconn-wisconsin-governor-jobs-tony-evers-manufacturing

[rcjordan]

Foxconn Told it Won't Get Tax Credits Until it Signs a New Contract
https://upnorthnewswi.com/2020/10/14/foxconn-no-tax-credits-until-signs-new-contract/