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Response to hughee99 (Reply #12)

Wed Dec 7, 2016, 03:27 PM

27. About that $16 million investment

http://finance.yahoo.com/news/ceo-united-technologies-just-let-231538059.html


From the transcript (emphasis added):

GREG HAYES: Right. Well, and again, if you think about what we talked about last week, we're going to make a $16 million investment in that factory in Indianapolis to automate to drive the cost down so that we can continue to be competitive. Now is it as cheap as moving to Mexico with lower cost of labor? No. But we will make that plant competitive just because we'll make the capital investments there.

JIM CRAMER: Right.

GREG HAYES: But what that ultimately means is there will be fewer jobs.

FEWER JOBS!!!

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