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Non-Tech : Kirk's Market Thoughts

COHR 178.34

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Dec 12 9:30 AM EST

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To: robert b furman who wrote (6795)	2/25/2019 10:24:40 AM
From: Kirk ©	of 26769

Hi Bob China first. I have for many years believed that globalization' primary intent was to bust up the overzealous unions. Good comments about China. I'm not sure it (moving assembly to Asia) was meant to break up unions as much as it just happened as a way to survive and compete with lower costs. Most private industry got rid of pensions in the late 1980s or early 1990s and we didn't have unions AND WE STILL MOVED JOBS TO ASIA. First and foremost it was about tax savings, especially for global products that might be sold overseas after being built there. Money made overseas would stay there and reward workers who moved there for awhile with lavish lifestyles as well as invest in further expansion. When automation came to the semiconductor fabs, they did not move back to the US.... I remember one of my favorite Libertarian CEOs, TJ Rogers of Cypres, saying why would he build any new plants in California when for every $1B invested, he'd have to pay $90M in sales taxes for the equipment and then 2% or $20M a year in property taxes? AOC and Bernie Sanders would say allowing Rogers to build a semi plant in Central California where land is plentiful would be a "gift"... I told AOC via Twitter that she should consider this type of tax forgiveness "rebate coupons" hoping that might trigger some basic level of understanding... It would be brilliant for CA as we could move some of the farm production to Mexico and create better paying jobs where there are none now. Of course the CEOs don't want the inconvenience of traveling from the SF Peninsula with great weather to the hot central part of the state, even for a short visit, so they keep overbuilding our area and destroying the quality of life here for the marginally employed. Kirk

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