OT: Coronavirus

[Guest]

House 6.

Unless I can murder Skip Bayless in his sleep

[Guest]

On Monday, Ford announced that it will be able to start producing ventilators by the end of April as governors make clear they desperately need the life-saving machines amid the coronavirus pandemic. The automobile giant said it would be able to produce 1,500 ventilators by the end of next month, 12,000 by the end of May and 50,000 by July 4. 



Nice that we still have the American auto industry to help now!

Ford's Bailout

Although Ford did not receive TARP funds, it did receive government loans.4 These were critical because banks were not lending during the financial crisis. It requested a $9 billion line-of-credit from the government. In return, it pledged to spend $14 billion on new technologies.




On June 23, 2009, Ford received a $5.9 billion loan from the Energy Department's Advanced Technology Vehicles Manufacturing program. In return, it pledged to accelerate the development of both hybrid and battery-powered vehicles, close dealerships, and sell Volvo. It upgraded factories in Illinois, Kentucky, Michigan, Missouri, and Ohio to produce hybrid vehicles.28




Ford used the funds to switch its focus to commercial electric vehicles. In 2016, CEO Mark Fields said, "We want to become a top player in electrified solutions. The company wants to lead…we can win such as with our commercial vehicles."




Eighty-one percent of the funds went to create new efficiency technologies for gas-powered vehicles. For example, they helped fund Ford's aluminum bodies in the F-series pickups. The Congressional Research Service estimated the loans saved 33,000 jobs.29

Congressional Research Service. "The Advanced Technology Vehicles Manufacturing (ATVM) Loan Program: Status and Issues." Accessed Jan. 9, 2020.

Ford will repay this loan by 2022.

[Guest]

And the offshore movement of pharmaceutical capacity started in the 80's, tax incentives, the trickle down stuff.  I spent a lot of time and received a lot of pay designing, integrating and supporting those endeavors.  Knew it was gonna bite us in the ass, but my employer was my client, too bad Neutron Jack didn't live to see it. 

[Guest]

@BigAl99 said:
And the offshore movement of pharmaceutical capacity started in the 80's, tax incentives, the trickle down stuff.  I spent a lot of time and received a lot of pay designing, integrating and supporting those endeavors.  Knew it was gonna bite us in the ass, but my employer was my client, too bad Neutron Jack didn't live to see it. 

Yep all about avoiding taxes by incorporating in another country.  I laugh when a lot of old timers say I don't want that drug from India/China/Australia/etc when all the pills (both brand and generic) are being manufactured at the same sites.  Pharma does a good job of scaring people about low cost meds from over seas all the while that is where the branded drugs are from   Sad but true.  

[Guest]

Yeah, my son works in the grey area of science and business, he's a molecular biologist.  He worked on CRISPR initially, then as a liaison for patient genomic data and disclosure to whomever.  Now he's on a team for qualifying cancer treatments and clinical testing.  Love to party with him, he's a packer fan too, lot of shit talking.  But he has a pretty fatalistic view of the direction we are heading, like father like son, compartmentalize and let the tech/science keep you sane, people always disappoint.

[Guest]

Bring the manufacturing back to our country.  Fix the uneven tariffs.  Fix the tax breaks.

I have heard one president pushing for this.  And it isn’t the ones pushing for globalism. 

[Guest]

@A1Janitor said:
Bring the manufacturing back to our country.  Fix the uneven tariffs.  Fix the tax breaks.

I have heard one president pushing for this.  And it isn’t the ones pushing for globalism. 

But no solutions.

How do you bring back manufacturing whike embracing capitalism?

Corporations are going to seek out the cheapest costs to make goods.  American labor vs Chinese labor isn’t even close.  So either you ask American workers to take huge pay cuts, or you raise the prices of the goods companies are going to sell.

What do you suggest?

That “manufacturing economy” ship sailed decades ago and isn’t coming back.  Technology, service and experience industries are now our strengths.

[Guest]

Actions speak louder then words

[Guest]

https://www.msn.com/en-us/money/companie...spartanntp


Scumbag Martin Shkreli trying to use the Covid situation to his advantage.  His sentence should be extended with this ploy.  He is a hedge fund manager and CEO not a scientists/physician/medical professional.

[Guest]

@minny65 said:
https://www.msn.com/en-us/money/companie...spartanntp


Scumbag Martin Shkreli trying to use the Covid situation to his advantage.  His sentence should be extended with this ploy.  He is a hedge fund manager and CEO not a scientists/physician/medical professional.

Weinstein and Avenetti tried this too.