"Toyota, Honda shut China plants; Supplier strike taking a toll on production" by Bloomberg News | June 24, 2010
TOKYO — Toyota and Honda have halted production at factories in southern China after two suppliers’ plants were closed by strikes, extending disputes at parts makers in the nation to at least eight in the past month....
Also see: China's Economy Collapsing
Because workers are demanding more of the spoils.
The unrest at foreign-owned factories in China reflects a shrinking supply of low-cost labor in the nation.
Then it is TIME to MOVE the FACTORIES again!
Maybe one day they will get back here (with dirt-bottom wages, of course), Amurkn!
Related: Chinese Firm Drops Local IQ Standards for U.S. Hires
On their way! Must be the jobs Obomber's been promising.
“This illustrates the growing pains the Chinese auto industry is going through,’’ said Ashvin Chotai, London-based managing director of Intelligence Automotive Asia, an industry consultant. “It’s facing the same labor problems seen earlier in developed nations. Over the long term, manufacturers need to have a range of contingency plans.’’
Translation: Where is the NEXT SLAVE STATE we can move them to?
Worker unrest has forced Japanese carmakers and other foreign manufacturers including Taiwan’s Foxconn Technology Group to spend more on labor....
Yeah, they were LITERALLY WORKING THEM to DEATH!
--more--"
Related: Costs rising in China’s production hotbed
And look who is heading over, Massachusetts taxpayers?
I guess they can join Evergreen .
Also see: Evergreen warned it may be delisted
Oh, they can have them then.
"Boston-Power to double its workforce; Battery maker gets new cash injection" by Bonnie Kavoussi, Globe Correspondent | June 25, 2010
Boston-Power Inc. in Westborough, producer of high-tech batteries, plans to nearly double its workforce in the next three years, both in Massachusetts and worldwide.
Related: Not As Easy as One-Two-Three
Actually, when it comes to looting you and leaving it is, taxpayers.
The company will fund the expansion with $60 million raised from current investors, according to chief executive Christina Lampe-Onnerud. Boston-Power is also planning to build a factory in either Europe or China to make storage and electric car batteries.
More vencap pension and endowment robbery to be burned to the ground!
Not going to BUILD ONE HERE, huh, BP?!!
“We are basically growing a global company,’’ she said.
Then I SAY NO MORE TAX "incentives."
Lampe-Onnerud said that while the company intends to keep its base in Massachusetts, not all of its new US workers will necessarily be located in the state.
Translation: You ain't seeing one single job, Bay-Stater!
She added that the company sees “a lot of possibilities’’ in China. “It’s becoming a real engine in the world economy,’’ she said.
I'm getting mixed messages from my business section, readers. WTF?
About 110 staffers, the company’s total US workforce, work in Massachusetts, while around 400 — mostly factory workers in Taiwan — are abroad, according to Lampe-Onnerud.
Oh, yeah?
Related:
"Thousands protest China trade pact
TAIPEI — Tens of thousands of opposition supporters chanted anticommunist slogans as they marched in Taiwan’s capital yesterday to protest a planned trade agreement with rival China that they say will undermine the island’s self-rule and harm its economy. The protesters marched several miles to the presidential office building. The opposition Democratic Progressive Party is calling for a referendum on the pact. Police said about 32,000 people participated in the protest, while organizers said there were more than 100,000 (AP)."
Feeling their oats, too, huh?
Also see: Taiwan lawmakers scuffle over trade bill
"Taiwan's rapidly improving ties with longtime foe China are diminishing US influence"
????????
CUI BONO?
Boston-Power plans to expand its overseas workforce to approximately 1,000 workers, largely in manufacturing, Lampe-Onnerud said.
That is NOT HERE, American.
In Massachusetts, Boston-Power plans to hire engineers and sales and marketing staff, according to Sally Bament, vice president of marketing.
Oh, okay. Still ain't a factory that would need them anyway.
Bament said that Massachusetts remains important to the company because Boston-Power’s engineers and businesspeople — their “core expertise’’ — live here, and the company benefits from the state’s technology base.
And they GET SOME TAX LOOT kicked their way!
The company, which was founded in 2005 and makes laptop batteries for Hewlett-Packard, had planned to build an electric car battery factory in Auburn that would have employed about 600 workers. But those plans were dashed last summer, when the company, which hoped to receive a federal grant of $100 million in stimulus funds, was bypassed....
See what I mean?
Related: Google may lose China permit
Investors flee on China concerns, confidence
Google search partly blocked in China
As if I cared.
And you know what brings down economies, right, readers?
"China bank IPO could be largest ever" by Associated Press | July 7, 2010
NEW YORK — Agricultural Bank of China’s initial public offering has raised more than $19 billion in what could turn out to be the largest IPO ever.
AgBank is the last of China’s big four state-owned banks to go public....
After our experiences here why would they want to do that?
If underwriters buy up about $2.89 billion more shares to sell to investors, the dual-listing deal could raise $22.12 billion — the most funds ever for an IPO.
Industrial and Commercial Bank of China raised $21.9 billion in its October 2006 IPO.
The original forecasts had put AgBank’s proceeds at a whopping $30 billion.
But investors appeared unprepared to pay that much for shares in a bank whose profitability is viewed as weaker than at its urban-focused competitors.
Mainland Chinese shares have slumped in recent weeks on worries that the huge IPO may overwhelm demand, pulling prices lower.
The global IPO market also has suffered this summer as stock markets tumbled around the world and uncertainty over the economic recovery increased....
Why are you throwing water on the fire, MSM?
And I thought we were in recovery and growing.
Related: China Becoming Target of Credit Default Swaps
Also see: IPO wave coming, but many cancel
Yeah, I rarely make it to the business section anymore for obvious reasons.
