Yeah, the Media's O.K. with it now, as long as they can use it to Bash Trump. Here's the sympathetic (to say the least) report from an "un-biased" outlet that's spent the last few years railing against greedy corporations moving jobs to other countries to increase [ugh!] Profits :
"For five months, a Midwestern manufacturer has been ignoring the president of the United States' crusade to save jobs — and getting away with it.
In a conference call with investors this week, Rexnord Industries reaffirmed its decision to go ahead with a business plan President Trump has condemned in a set of blistering tweets.
“Rexnord of Indiana made a deal during the Obama Administration to move to Mexico,” Trump tweeted on May 7. “Fired their employees. Tax product big that's sold in U.S.”
Eleven days later, on the phone with shareholders, chief executive Todd Adams showed little sign he cared.
“We’ve essentially completed the last plant move, and we’re currently focused on bringing the last pieces of equipment on line,” Adams said on the call Thursday. The company's business strategy, which was two years in the making, was beginning to deliver results, he went on. “We’re definitely on track to hit our goal of $30 million in annualized savings,” Adams said.
Rexnord, which is based in Milwaukee, had avoided the spotlight for nearly 30 years. Under the White House’s intense glare, it has not changed course in its plans to shut down factories in the United States and move jobs to Mexico.
The supplier of ball bearings and other industrial parts is wrapping up the closure of a half-century-old plant in Indianapolis — 200 of the 300 workers there have so far been laid off. It is investing in automation, which could reduce the need for American employees elsewhere. And over the last year, despite getting swept into political turmoil, its profits have slightly grown.
“Rexnord of Indiana is moving to Mexico and rather viciously firing all of its 300 workers,” Trump tweeted in December. “No more!”
At the time, Rexnord offered no response to the president. (The company did not respond to The Washington Post's request for comment.)
Some...tweets allowed Trump to declare victory. The president claimed to have persuaded United Technologies in December to keep 800 of about 1,350 jobs at a Carrier furnace factory in Indianapolis, rather than shuttling them to Monterrey, Mexico.
But he could not stop Rexnord, which sits about a mile from Carrier, from moving to the same Mexican city, to take advantage of lower wages and other costs.
Chuck Jones, president of the union that represents the Rexnord employees, said their employees' replacements south of the border would make $3 an hour. The company flew some Mexican workers up to Indiana to study the factory in its last months and learn the trade, he said.
The company stands to save $15.5 million in its first year abroad, according to figures the company shared with Jones. That windfall is expected to grow by roughly $200,000 a year.
“It’s wonderful and noble when firms take a socially responsible stance and say we have bottom lines that extend beyond the financial,” said Tim Baldwin, a business professor at Indiana University. “On the other hand, fighting economics is folly. To prop up jobs against the economic reality is a short-term deal.”
Got it? Evil money grubbing Corporations have a Moral Obligation to throw American workers under the bus for $$$$$ as long as they claim to "stand up to Republican Presidents".
Check it out : https://www.washingtonpost.com/news...epeatedly-ignores-him/?utm_term=.89707438d718
"For five months, a Midwestern manufacturer has been ignoring the president of the United States' crusade to save jobs — and getting away with it.
In a conference call with investors this week, Rexnord Industries reaffirmed its decision to go ahead with a business plan President Trump has condemned in a set of blistering tweets.
“Rexnord of Indiana made a deal during the Obama Administration to move to Mexico,” Trump tweeted on May 7. “Fired their employees. Tax product big that's sold in U.S.”
Eleven days later, on the phone with shareholders, chief executive Todd Adams showed little sign he cared.
“We’ve essentially completed the last plant move, and we’re currently focused on bringing the last pieces of equipment on line,” Adams said on the call Thursday. The company's business strategy, which was two years in the making, was beginning to deliver results, he went on. “We’re definitely on track to hit our goal of $30 million in annualized savings,” Adams said.
Rexnord, which is based in Milwaukee, had avoided the spotlight for nearly 30 years. Under the White House’s intense glare, it has not changed course in its plans to shut down factories in the United States and move jobs to Mexico.
The supplier of ball bearings and other industrial parts is wrapping up the closure of a half-century-old plant in Indianapolis — 200 of the 300 workers there have so far been laid off. It is investing in automation, which could reduce the need for American employees elsewhere. And over the last year, despite getting swept into political turmoil, its profits have slightly grown.
“Rexnord of Indiana is moving to Mexico and rather viciously firing all of its 300 workers,” Trump tweeted in December. “No more!”
At the time, Rexnord offered no response to the president. (The company did not respond to The Washington Post's request for comment.)
Some...tweets allowed Trump to declare victory. The president claimed to have persuaded United Technologies in December to keep 800 of about 1,350 jobs at a Carrier furnace factory in Indianapolis, rather than shuttling them to Monterrey, Mexico.
But he could not stop Rexnord, which sits about a mile from Carrier, from moving to the same Mexican city, to take advantage of lower wages and other costs.
Chuck Jones, president of the union that represents the Rexnord employees, said their employees' replacements south of the border would make $3 an hour. The company flew some Mexican workers up to Indiana to study the factory in its last months and learn the trade, he said.
The company stands to save $15.5 million in its first year abroad, according to figures the company shared with Jones. That windfall is expected to grow by roughly $200,000 a year.
“It’s wonderful and noble when firms take a socially responsible stance and say we have bottom lines that extend beyond the financial,” said Tim Baldwin, a business professor at Indiana University. “On the other hand, fighting economics is folly. To prop up jobs against the economic reality is a short-term deal.”
Got it? Evil money grubbing Corporations have a Moral Obligation to throw American workers under the bus for $$$$$ as long as they claim to "stand up to Republican Presidents".
Check it out : https://www.washingtonpost.com/news...epeatedly-ignores-him/?utm_term=.89707438d718