Posted on 10/25/2016 8:42:37 PM PDT by Phillyred
DuPont Co.'s target date to merge with Dow Chemical Co. has been delayed into early 2017 as regulators on four continents scrutinize its impact on pesticide prices and other corporate competition.
But further plans for factory closings and consolidations, and for spinning off the combined chemical giants' pesticide, materials and specialty groups into new companies, remain on schedule, and should be finished by summer 2019, CEO Edward Breen told investors in the Wilmington chemical company's third-quarter conference call today.
Indeed, Breen said he expects future cost cuts will rise above the previously projected $3 billion. After axing 1,700 Delaware-based central management, research and support staff last winter, among other job cuts, "we think there's really nice opportunity" to reduce expenses on the "operations side of the house," Breen added.
(Excerpt) Read more at philly.com ...
More anti-trust violations ala Obama.
I’m sure they greased the proper palms, so it’s all legal.
DuPont Opens Its ‘Largest’ Plastics Compounding Plant Near Hong Kong
http://www.chem.info/news/2016/07/dupont-opens-its-largest-plastics-compounding-plant-near-hong-kong
The crud running DuPont now are nothing but scavengers racing to wipe out the last of a once proud company. All the re-formed companies after the merger will be picked apart by the next wave of vultures with their golden parachutes and eventually we’ll need to rely on China for any chemicals we;ll still be allowed to use in this country.
At one time there were three chemical giants — Union Carbide, Dupont and Dow. Them were the good old days when you did not have to look for a job but jobs came looking for you.
VOTE TRUMP MAGA.
If Americans choose the Marxist candidate, look for all American industry and manufacturing to go south very quickly - along with the entire economy.
Oh come on. Anti-trust laws are a load of cr*p. The mere existence of Major League Baseball is the US government tacitly admitting that monopolies are not only ok, but beneficial, in many instances.
> is the US government tacitly admitting that monopolies are not only ok, but beneficial, in many instances
It’s as if you don’t even understand that monopolies come about as a direct result of government policies to destroy competition and free markets.
“The mere existence of Major League Baseball is the US government tacitly admitting that monopolies are not only ok, but beneficial, in many instances.”
This country would be better off if MLB, the NFL and the NBA were all three put out of business ( hockey too). Plus the taxpayers would eventually be off the hook for shelling out to build them places (stadiums, etc.) where then can make money without the bothersome expense of providing the venues for themselves.
I suppose you may be right. Please explain to me how government policies stifled competition in the diamond industry and led to De Beers’ monopoly.
You mean the monopoly that was created by a sitting Prime Minister of South Africa?
Hmm. You may have me there. I can’t think of how government may have been involved in that.
Sorry factual correction. De Beers was created shortly after Rhodes left office.
Find an example of a monopoly that was created by some method other than political influence, and I’ll concede the point; otherwise you may consider conceding mine: Where you find a monopoly, you find government interference in the free market.
U.S. Steel was once a monopoly that the federal government tried to break up. They failed, and today U.S. Steel supplies a tiny fraction of the steel we use.
This is a disturbing pattern. Oligopolies reduce competition, employment, and oversight.
“This is a disturbing pattern. Oligopolies reduce competition, employment, and oversight”
Feel free, my friend, to open your own chemical plant to make competitive products.
You won’t be able to do it.
THAT is the problem, and it stems from government and cronyism in government.
Don’t blame companies. They will do what is needed to make money.
If you listen to government (and you, apparently) businesses exist to provide paychecks, healthcare, pensions to everyone. Also to provide the same for regulators, bureaucrats and tax collectors.
If Americans through the governments they elect treat business as a scourge, you will lose everything they bring. Jobs, revenue, prosperity, liberty, community, and growth.
Government is the opposite of prosperity.
You are blaming the victim for being raped by big government and a greedy do-nothing electorate that wants something for nothing. They will get nothing, and they will bitch about it.
I’ve never understood how structures built by the Romans are still in use today, but stadiums seem to wear out every five years?
“After axing 1,700 Delaware-based central management, research and support staff last winter, among other job cuts, “we think there’s really nice opportunity” to reduce expenses”
Wow, just wow, talk about insensitive.
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