While handing out money with one hand to certain businesses, the government on the other hand is "chasing" manufactures out of the country. That according to David Farr, CEO of Emerson Electric Company (makers of garbage disposals among other things). From a Bloomberg article:
[T]he U.S. government is hurting manufacturers with regulation and taxes and his company will continue to focus on growth overseas.
“Washington is doing everything in their manpower, capability, to destroy U.S. manufacturing,” Farr said [last week] in Chicago at a Baird Industrial Outlook conference. “Cap and trade, medical reform, labor rules.”
So what's Mr. Farr going to do?
“What do you think I am going to do?” Farr asked. “I’m not going to hire anybody in the United States. I’m moving. They are doing everything possible to destroy jobs.”
So next time you hear someone complain about outsourcing, think of Mr. Farr and the fact that the U.S. Government is doing everything it can to force companies to leave the country for more hospitable countries. It's just like states such as California that drive jobs away they wonder why they are always in financial crisis. The U.S. may soon look like California.
Comments