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Topic Closed$49,000,000 stimulus dollars for Jobs in CHINA?...

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Direct Link To This Post Topic: $49,000,000 stimulus dollars for Jobs in CHINA?...
    Posted: 14 June 2011 at 11:50am
Yes, I realize the 49,000,000 wasn't just stimulus but also tax credits for "green jobs"...
 
Yesterday Obama was in NC at the CREE plant... Where they got millions in stimulus money and other tax breaks so they could get jobs.
 
Of course the media jumped all over the "jobs" bandwagon as proof that the stimulus worked, except the majority of the jobs they added were in CHINA!...
 
 
 
 
Here is an article of one of the other times they have been to CREE before talking about how these millions in stimulus would become jobs.
 
 
and the press release about the "new" American jobs (275 in 09, possibly another 300 by 2012)
 
But, hold the phones... Is that It? Cree has over 10,000 employee's... 275 new ones for almost $50,000,000 dollars doesn't seem like a very good deal, almost an "obamanomics" type deal.
 
Oh, now it makes more sense...
 
They took tax breaks, and stimulus money and then built a massive new plant in China and hired Chinese to man the plant...
 
 

"Though Cree is a US-based, Nasdaq-listed company, Swoboda said that “Cree management never runs this company as a US company. We consider Cree to be a global company with local wisdoms.”

Describing China as a very important market for Cree, Swoboda said that currently more than 50% of Cree’s employees are working and living in Huizhou. “We will continue to invest here for both human talent and the most state-of-the-art technologies,” he said, adding: “We have committed that in the coming 3-5 years, we will continue to expand our operation in Huizhou.”

While Huizhou is Cree’s operational headquarters in China, the company has also set up sales and engineering service centers in Shenzhen and Shanghai. Swoboda said that Cree’s development strategy is “Cree Chip, China Heart”, adding: “We will work to keep the close collaboration with governmental bureaus, industrial organizations and enterprises in China, where we push the healthy, scientific and orderly development of the LED industry in China with joint efforts with our business partners, to facilitate the LED installations in cities, and make many more contributions to energy savings and emission reductions in China.” "

 
So typical...
 
Instead of journOlists looking into this... We get fluff pieces from the media about how the stimulus works great and we need to "invest" more in our "future" from our Obummer yesterday... With examples of how Cree is the perfect example of government getting involved in private business and creating jobs... (lawyer speak as usual... As the majority are CHINA jobs)
 
 
And the lemmings just nod their heads...
 
 
 
I'm reminded of something I read a few days ago and posted on my facebook...
 
"The American Dream, 2011: You pay four bucks a gallon to commute between your McJob and your underwater housing to prop up a spendaholic, grabafeelic, paramilitarized bureaucracy-without-end bankrupting your future at the rate of a fifth of a billion dollars every hour."
 


Edited by FreeEnterprise - 14 June 2011 at 11:54am
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Direct Link To This Post Posted: 14 June 2011 at 12:05pm
And another kitten quietly dies at the hands of a vengeful god.
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Direct Link To This Post Posted: 14 June 2011 at 12:26pm

If Kittens are jobs, and obama is the "vengeful" One, then yes, you are correct.

 
 
 
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Direct Link To This Post Posted: 16 June 2011 at 9:02am
hmm
 
Look at how the Washington Times covered it.
 
 
"Cree received $39 million in tax credit from the 2009 Recovery Act to develop clean-energy technology. It purchased new equipment and hired nearly 750 more workers in North Carolina’s famed “research triangle,” where it manufactures environmentally friendly LED (light-emitting diode) bulbs.

Then late in 2010 the firm opened its first manufacturing plant in Huizhou, China. Cree CEO Chuck Swoboda said at the time that more than half of the company’s employees were living in China. The move prompted some conservative critics to claim Cree is a poor example of a stimulus success story, arguing the firm is borrowing money from China, financed by U.S. taxpayers, to create jobs in China."
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