America’s current economic woes did not come out of thin air. Its not only a matter and question of economics , interest rates , banks and the bailout and tarp funds. It goes much deeper and was a long time coming.
Take for example this auto magazine article – or a mild press release , published in Oct 1992 dealing with BMW’s announcement to open its American factory in North Carolina. You have to remember that this is a highly subsidized announcement - each state made great pitches , offers and tax saving inducements to the firm , to relocate ( move from where Germany ?), to the chosen US state. Its more than amazing at how much is spent on these deals , whether it was in North Carolina or the Southern US states to build what are in effect “Screwdriver Plants”.
The greatest amount of value added is in the home country – be it Japan for Toyota or Nissan , or in this case Germany for BMW. The really high paying jobs and skills are offshore , not in China at low dollars but rather back at “Head Office”. Its only the mundane low paying jobs so to speak that are offered , after all of these great subsidies. When one figures out the cost per worker, including all subsidies , to the American taxpayers you have to wonder if it would not just of been better to have paid the workers – or assemblers – just to stay home or go duck hunting.
Interesting – hidden in the middle of the press release gushing article – inside the paragraph dealing as to why BMW execs choose North Carolina over others , “not the least was easy access to air, rail, and highway routes , is the statement “And while initially up to 80 % of the components will be imported from Germany…… there is a good possibility ( although not probability) , that some type ( not types), of manufacturing capability ( not plural), may be added in the future.
And you think that your boss is a moron.
Fire Your mean and incompetent boss
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Tags: American Taxpayers, Auto Magazine, Bailout, Case Germany, Dementia, Duck Hunting, Easy Access, Economic Woes, Execs, High Paying Jobs, Inducements, Low Paying Jobs, Lucrative Industries, Magazine Article, Pitches, Screwdriver, Subsidies, Tarp, Thin Air, Zod