O.T. Foxconn

[Phantom Warrior]

Just read this article.

http://www.marketwatch.com/story/thi...of2&yptr=yahoo

Just wondering what others with more background in business think of the article and what they think of this deal.

Seems to me that most Wisconsin residents will look at this deal no deeper than this company is going to provide thousands of decent-paying jobs in the area. But after reading this article, I can't help wondering if Wisconsin residents are getting scammed by the Governor and his cohorts.

Thoughts?

[MU/Panther]

Well, many Dems are in love that Foxconn is coming to Wisconsin, so it's just not the Governor and Co. Also hear strong push that the Bucks are wanting Foxconn for the new naming rights deal at over $6 million plus per year.

[Phantom Warrior]

So you think this is a good deal for Wisconsin or a bad deal?

[MU/Panther]

So you think this is a good deal for Wisconsin or a bad deal?

In people I hear and trust, this is a great deal for Wisconsin. Wisconsin will not be paying out any money to Foxconn, until Foxconn hits the marks in the contract to earn the money from the State of Wisconsin.

The sports teams, the Bucks and Admirals are in major support of this. To the point they were at the press conference in Milwaukee on Friday. Bucks, Peter Feigin was at the White House for the Thursday press conference.

[Goose85]

Based on history, I don't trust Foxconn, but the money the state of Wisconsin is going to pay them, and what I'm sure Racine will be paying them, it is probably a no brainer for Foxconn. I hope that most are good paying jobs, but I'm concerned that there will be a lot of jobs Wisconsinites just won't take. To fill the jobs I think we will need a lot of out of state workers that will need to come in that are willing to work for $15 per hour.

In addition to the state, I'm sure Racine will need to pony up a bunch of money (sewers, roads, infrastructure).

New industry and jobs to the state are a good thing, and I'm all for that, but over the next 20 years I think the state of Wisconsin will be paying the salaries for Foxconn employees (even if all employment goals are not met), so I'm not so sure it will be a good financial deal for the state. I would bet that Wisconsin tax payers will be paying for a lot of workers on H2B visas to man a good number of the positions at this plant. My guess is taxpayers outside of southeast Wisconsin might not be very thrilled with the deal either.

[Markedman]

Scammed by the Governor and his cohorts?

Seriously......

You can either like the deal or not like it...but its not a scam.

ps lots of assumptions and guesses there goose........

[Goose85]

Scammed by the Governor and his cohorts?

Seriously......

You can either like the deal or not like it...but its not a scam.

ps lots of assumptions and guesses there goose........

Agreed, and I hope it all works out great, but when you are putting up that kind of money hopefully all of those assumptions, guesses, and countless others are addressed. The devil is in the details, and I hope everything works out as this could really be a catalyst for other business growth in whatever location Foxconn lands.

[IWB]

Just curious, how much money is the state putting up for this?

[CaribouJim]

Illinois could be an beneficiary as well. Those damn FIBS!!!

http://www.chicagotribune.com/busine...27-column.html

[MU/Panther]

Just curious, how much money is the state putting up for this?

It could be up to $3 billion. That does not happen until Foxconn fills it's quota.