Dear President Trump, What Happened to Your 8th Wonder of the World?

Mish

Foxconn's $3 billion investment promise in Wisconsin turns more than a bit sour.

Eighth Wonder of the World

Please note Wisconsin Says Foxconn Doesn’t Qualify for Subsidies.

Wisconsin officials have denied a request by Foxconn Technology Group for the first payments in what had been envisioned as $3 billion in state subsidies for a major technology complex President Trump hailed as the “eighth wonder of the world.”

State officials said in a letter Monday that Foxconn had failed to create enough jobs to receive subsidies in 2019 and that the scope of the project had changed so much that it must draw up a new contract to qualify for future subsidies.

The company, which is a major supplier to Apple Inc., had initially said it expected to have created 2,080 jobs at the plant by the end of 2019 and to have invested $3.3 billion, according to the WEDC [Wisconsin Economic Development Corp] Instead, the company had hired fewer than the minimum 520 required for subsidies and invested $300 million, the WEDC said.

8th Wonder vs No Wonder

It's no wonder Trump hasn't mentioned Foxconn recently.

End is Near

Many readers are tired of me bashing Trump. Don't worry.

I will soon be bashing Biden more often than not.

Mish

Comments (55)
No. 1-26
Doug78
Doug78

If neither one wins will you bash Nancy?

Bohm-Bawerk
Bohm-Bawerk

3 Billion? what's 3 Billion, can't they just add it to the stimulus package without anyone noticing? now a hundred billion just gets thrown around as a decimal point (2.2 trillion, 1.8 trillion).

PecuniaNonOlet
PecuniaNonOlet

“Ladies and Gentlemen, step right up, step right up, behind this curtain is the 8th wonder of the world and for the low low price of just one vote, you can see it!”
-Trump the carnival barker

20 days till election.
2 days till Boris Brexit Bonanza.
1 day for PecuniaNonOlet to vote blue all the way down!

Eddie_T
Eddie_T

There will be plenty to complain about with Biden...I know that. In the long run, the Democrats are so deeply flawed as to present just as much of a threat to what I believe in as Trump has been....just not quite as much of a brush-fire at the moment.

I am some kind of libertarian....but not a big L Libertarian. Not a Chomsky Left Libertarian either....libertarianism is my philosophy, but not a political party I want to join, particularly.

We need a new party that can create a center in American politics......without that we're just headed further off the rails. I don't know how we get that.....it seems pretty impossible.

Eddie_T
Eddie_T

China never wanted to build anything here. I look for the eighth wonder to become a ghost project. Especially since Biden will probably try to walk back a lot of Trump's tariff bs.

randocalrissian
randocalrissian

We can all be honest, this election isn't about Biden, it's addition by subtraction. Biden will do his best work by avoiding doing the real work. He should go full Reagan and hire the best and brightest SMEs and let them exhibit their mastery. He should limit himself to discussing appointments, foreign relations, and the occasional American pep talk. Like anyone would really want to elect a 78 yr old if they had more than two flavors of dung to choose from for their next meal.

Rocky Raccoon
Rocky Raccoon

China plays better 4D chess than Trump.

dr smock
dr smock

Foxconn was paid a massive amount of money by Wisconsin to build the plant and also given Lake Michigan water rights for the plant to pollute it. It was suppose to bring jobs to the state. However, the bastard Chicomms decided that Wisconsin workers make too much money, so they were going to use Chinese workers.

John_
John_

Foxxconn is a Taiwanese company...

dr smock
dr smock

The Foxconn deal reminds me of the deal Trump worked out with the Carrier plant in Indianapolis to stay there at the beginning of his reign that was national news. Well, Carrier moved to Mexico w/o much fanfare.

KidHorn
KidHorn

Trump is awful, but electing him is better than Biden. If Biden wins, the democrats will stack the supreme court, make DC and Puerto Rico states, and eliminate the filibuster. If they succeed in doing that, they'll take dictatorship control of the federal government.

Imagine how citizens of red states will respond. They'll decide the federal government represents nothing they want and will take measures to separate from the nation. If the democrats can ignore immigration laws and form sanctuary cities, what will prevent red states from deciding not to enforce IRS regulations and hence exempt their citizens from paying federal taxes? They'll make abortion illegal in their state. Ignoring anything the supreme court rules on. What will stop them from splitting Wyoming into north and south Wyoming so they can get 2 more senators? the precedent that the democrats are trying to do will have potentially enormous consequences.

Zardoz
Zardoz

"Many readers are tired of me bashing Trump. Don't worry.

I will soon be bashing Biden more often than not."

Tribalists little heads will explode.

numike
numike

“Every revolution evaporates and leaves behind only the slime of a new bureaucracy.”
― Franz Kafka

Maximus_Minimus
Maximus_Minimus

I hope everybody realizes, Fox-con is a Taiwanese company, so no Trumps tariffs apply to it. If Trump didn't blunder himself into it, this would be touted as the end-the-graft virtuous outcome.

Sechel
Sechel

the deal is off

Foxconn was supposed to spend $3.3 billion on the project by the end of 2019. Instead, Foxconn had only spent around $300 million by the end of the year.

Foxconn was supposed to build an LCD panel factory based on the industry's new Generation 10.5 standard. This standard uses enormous sheets of "mother glass"—roughly 10 feet (3 meters) square—to provide LCD panels for large televisions. Each glass sheet is typically cut into several displays. The factory was expected to cost $10 billion to build and eventually employ 13,000 workers in Wisconsin. The state now says that Foxconn won't come anywhere close to meeting those targets.

Donald Trump has made it a priority to bring high-tech manufacturing jobs to the US, but the results haven't always lived up to the hype. Last year, for example, Trump claimed to have opened an Apple manufacturing plant in Texas to build Mac Pros. In reality, Apple has been building the Mac Pro at the same location since 2013.

AWC
AWC

Make corporate welfare as hard to get as building permits!

Casual_Observer2020
Casual_Observer2020

You can bash Biden or whomever but at least we will have someone who will take a pandemic seriously. As the spouse of a health care worker who didnt have necessary PPE, not having a federal emergency production act will be remembered by the medical community for a long time. My wife who was a lifelong Republican is now just going to be anti Republican for the rest of her life. There are many people like this all over the country. The Trump folks just don't get it. They think ignorance is bliss.

Casual_Observer2020
Casual_Observer2020

Anyone who still believed what Trump said or says is an idiot.

Sechel
Sechel

Reminds me of Kodak

Sechel
Sechel

Seems like idiots run this company. If I were running it and thought the market had changed I'd be in contact with Wisconsin attempting to salvage and renegotiate the deal. This one is hard to fathom

njbr
njbr

It's the same old story, scammers getting scammed.

FromBrussels
FromBrussels

ooooooh YEAH ! The US of A is gonna be one HELL of a great place again with Trump a goner, The American Dream a reality again....evwythin gonna be jus fine post Trump.....especially when you are gullible enough, or stupid rather, to believe similar nonsense....

Augustthegreat
Augustthegreat

Foxcon mainly manufactures in China. Low-end manufacturing is leaving China to south-east Asia. China is now moving up-ladder to top-end manufacturing, which is not labor but engineering-intensive. China graduates maybe 10x more engineers per year than the US does. Here is how modern factories work nowadays in China, which requires a huge number of STEM engineers, not sweat labors.

CCBW
CCBW

Mish haven’t you herd you won’t be bashing Biden, Nancy and crew are going to ship him off to a nursing home once they pass a constitutional amendment to impeach a president for mental incapacity. You get to bash Kamala Harris and the rest of the Marxist crew that is if they allow you to post anymore. IF they win the whole show they will probably call for a constitutional convention to fix all those negative things in the constitution that spells out what they can’t do to us. Then they will put things in so they can help us be good citizens. This will be tough for us that wish to decide our own destiny. You sheep you’ll do fine you like to be led through life.
Thanks: ccbw

AshH
AshH

"Many readers are tired of me bashing Trump. Don't worry.

I will soon be bashing Biden more often than not."

Wouldn't expect it any other way 😁


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