Illinois manufacturer moving to Mexico over Trump tariffs

[DonViejo]

Source: The Hill



BY AVERY ANAPOL - 08/15/18 11:49 AM EDT

A storage safe manufacturer is reportedly planning to shut down two Illinois factories and move to Mexico in response to President Trump’s tariffs on Chinese metal imports.

Stack-On Products will close its two Chicago-area plants in October, and lay off 153 people, according to the Chicago Tribune.

Al Fletcher, human resources director for the manufacturer’s Las Vegas-based parent company, told the newspaper that the company decided to relocate the operations to Mexico after Trump announced tariffs on steel and aluminum, as well as other products, from China. “The operation is really not profitable,” Fletcher said. “Mr. Trump is part of this.”

Stack-On has operated in Chicago at its only two U.S. plants for four decades, according to the Tribune, which added that the company already has factories in Mexico and China.

Read more: http://thehill.com/policy/finance/international-taxes/401943-illinois-manufacturer-closing-doors-moving-to-mexico-over

[NewJeffCT]

1. I'm tired of all this winning

these moves are happening on an almost daily basis it seems now

[SummerSnow]

2. That sure backfired. I'm sure he'll tweet a boycott toward the company

and threaten any country that does business with them

[yallerdawg]

3. A primer for the Dotard:

Shared sacrifice for the greater good is socialism.

Moving to Mexico is capitalism.

[ragemage]

4. Remember this is not America First - It is Profit First!

these companies are only doing what they need to remain profitable (at least in their eyes) If that means losing American jobs and relocating to a foreign land so be it...They are not caring about Americans, they are caring about the Money. That is the one true god all shareholders worship. The Orange One should know this, all his ranting about America First and make us great...Remember corporations only exist to make money. They are neither moral or immoral..they have no feelings, no hurts, no regrets. They exist to please shareholders and owners. Profit=Money. Workers are just a commodity, the cog to make the money.
Tariffs hurt their bottom line. Less profit = less money. So their logical conclusion is to move where it is cheaper. Multi-national companies do not care about countries, borders, loyalties. Remember it is always about the money and always will be.

[erronis]

8. Jeez - I thought you were going to say "It is Putin First!"

Companies gotta do what companies do - make money and profits - just like you say.

The current anus in the WH is not doing it because of "America First". He's doing it to take the US down into the sewer.

[Cheviteau]

11. Here's A Question.

Aren't the investors entitled to make a return on their investment? Just as the workers are entitled to a paycheck at the end of a workweek. Do you eschew money? How do you live? If you are employed by a company, does it make a profit in order to pay you? Self-employed? A service or product to sell? Someone earned the money to buy whatever you have to sell. If I was invested in that company and they didn't move, I'd be pissed. Your President brought this on. You seem to think your president can take his marks-a-lot felt pen and crap all over our economy without consequences.

[ragemage]

16. Yes investors can get a return on their investment - but how much is too much?

Capitalism is the main tool of the US economy, for good and bad. However we have moved away from the idea that "a rising tide lifts all boats" to the insanely wealthy wanting more and more at the expense of the working class. Based on your response I take it you do not live in the US. Also based on your reply you seem to think the only option is to move in order to continue making money. how about working toward removing the one in office and/or removing the tariffs that are causing the issue in the first place? By moving the company it tells me they are not for America or the American way but for the company way, profit over all else.

[Cheviteau]

24. I Do Live In The U.S.

I believe you do not understand the point I was making. Trump's tariffs are just now in the incubation stage of a full-fledged economic downward spiral. Moving a company out of the U.S. is not the only option, but sometimes it is the best option. Often times voters vote against their own self-interest...as many of them did by electing Trump. Then they piss and moan when things go south for them. Again, don't misunderstand me. I have empathy for those who have and will lose jobs. But damn, they seem to never learn. Republicans have never kept but one promise. And that is cut taxes for the rich.

[ragemage]

25. Thanks for the clarification

Thanks for the clarification and sorry if I misunderstood. I do agree with what you have said. Republicans will not learn and not sure they even want to.

[paleotn]

19. So.....

they should be forced to operate unprofitably? Anecdotal, granted, but no company I've ever worked for is strictly focused on profit. One issue for multi-nationals is foreign workers are also stakeholders. A successful multi-national has to account for their needs and the needs of their communities as well. Right or wrong, that's how our economic system works in the 21st century. There are bad actors, certainly, and it's not the best system, but it's the best one we've come up with so far.

[dalton99a]

5. His response will be more tariffs

Just watch

[FSogol]

7. Bailed? No, he talked about bailing them out. To date zero dollars have been disbursed.

From today's WSJ:

Farmers’ Anxiety Grows as Details on Federal Aid Remain Unclear
Questions mount over disbursal of pledged $12 billion aid to offset impact of Trump’s tariffs

WASHINGTON—Farmers fretting over a trade conflict sparked by President Trump’s tariffs may soon get more details on the $12 billion worth of aid that the administration has pledged, as their concerns mount over potentially plunging incomes and market losses.

“We certainly are appreciative of it but…we don’t know how it’s going to be determined,” Ryan Pederson, a North Dakota farmer who grows soybeans and canola, said of the proposed farm aid. “You can’t do any planning off of that because you don’t know what it’s going to happen

https://www.wsj.com/articles/farmers-anxiety-grows-as-details-on-federal-aid-remain-unclear-1534330800

[BamaRefugee]

13. Gavin Nunes lists himself as a "farmer"

So you can be sure the money is going to be disbursed, and I bet LOTS of other Senators and Representatives have "farms" too.

[NBachers]

17. Maybe they'll distribute Trump Hotel and restaurant vouchers.

[paleotn]

20. I wouldn't write checks....

on Trump promises.

[FSogol]

21. Yeah, I always have to scratch my head at people who think Trumpy follows thru on the dopey things

proposes.

[Zambero]

9. Guess he was tired of winning?

It might be time to resurrect Ross Perot's famous line: "That giant sucking sound"!

[ffr]

10. That's okay, we can just import that product from Russia

Right?

[jayschool2013]

12. Blue State?

Trump doesn't care.

[hurple]

14. If the goal is to push ALL companies out of USA forever

SO MUCH WINNING!!!

[The Liberal Lion]

15. ....and the tajmahalification of America continues unabated

[sprinkleeninow]

18. "There ya go." eom

[samir.g]

22. gun humpers will love this

[JohnnyRingo]

23. They make tool boxes too.

I didn't even know they made anything else except pretty nice tool chests and cheap plastic ones.

[Gothmog]

26. trump's trad war is hurting US businesses

[Shumi]

27. Trump fail

He has no economic knowledge whatsoever.

[workinclasszero]

28. So much winning