Posted on 05/05/2017 6:15:58 AM PDT by Lorianne
Apple will invest in and promote “advanced manufacturing” in the US, CEO Tim Cook told CNBC’s Jim Cramer on Wednesday after the somewhat uninspiring earnings report. It was one of the ways Apple would create jobs in America, he said. To do that, Apple would put $1 billion in a fund that would invest in “advanced manufacturing” companies.
Apple has already “created two million jobs in America,” he said in the interview. This includes 80,000 jobs at Apple in the US; plus jobs at US suppliers, such as Corning, which makes the glass for the iPhone and iPad, and 3M, which makes adhesives that Apple uses in its devices; plus the “developer community” of almost 1.5 million people who write apps that, as he said, “change the world.”
So to “get more people to do advanced manufacturing in the US,” he said, Apple is setting up a fund, “initially” putting in $1 billion. “We’re announcing it today,” he said. “We’ve talked to a company that we’re going to invest in already.”
This $1 billion would have to be “our US money which we have to borrow to get, which is another whole topic….” Most of Apple’s cash is registered overseas, the result of profits that have not been taxed in the US. Apple’s overseas cash can be and is already invested in the US, such as in Treasury securities, but it cannot be used for capital expenditures or share buybacks in the US without being “repatriated” under the US tax code and thus triggering an income-tax event.
SNIP
That’s why “comprehensive tax reform is so important to this economy,” he said. Practically everyone agrees on that. Practically no one agrees on how to do it.
By promoting advanced manufacturing in the US, “we can be the ripple in the pond,” he said. “Because if we can create many manufacturing jobs, those manufacturing jobs create more jobs around them because you have a service industry that builds up around them.”
Manufacturing in the USA will ALWAYS need wrench turners and grease-monkies
Nonsense. Somebody has to program, operate and maintain the robots. And it could mean more factories instead of just a few.
There was once a freeper who would come to these threads and he would always scream,”bring back Manufacturing..!!”
but I haven’t seen him in over 6 months.
He did that for over 12 years.
Correct, and the pay will be $11 an hour. The vaunted "new jobs created to support the new technology" are never as good as the jobs eliminated.
Duh. Bringing manufacturing back to the US may help companies, but it won’t help jobs. Well, not by near the amount people think. And every year it gets smaller.
I’ve noticed a trend among tech CEOs to act - and be treated as - some sort of soothsayers imbued with mystical powers.
Their comments about their own companies are, admittedly, usually vanilla and boring in order to avoid stock fluctuations but this isn’t necessarily a license to foretell the future.
The reality is they are guessing as much as the bloke sitting at the bus stop is guessing.
Tim Cook in particular has the sinecure of all sinecures. He hasn’t been particularly good at his job - in fact quite the opposite - but has kept the PC patter up and when you’re sitting on that big a pile of cash you can afford to burn a few hundred million when you err.
I think the pay for these techs will certainly be more than 11 an hour
Apple CEO sucks
So keep the jobs over seas to avoid robots? Is that what he is saying - what an asshole!
This is such a misleading take on bringing manufacturing jobs to America. Of course “robots” are going to get the “jobs.” We don’t live in the 1800s. We don’t have men pounding out steel beams or assembling an entire car themselves with just some wrenches and screw drivers. There is a robotic component to all manufacturing. Its why the humans who get the jobs operating the “robots” or fixing the “robots” make as much as they do — their productivity is through the roof compared to the productivity of the 1800s worker. If “robots” didn’t get the “jobs,” you’d have thousands of people slaving away for the equivalent of $0.50 per hour and trying to live off that.
The technical know how needs to stay in house. Bring it all back.
Someone has to calibrate, adjust, tune, and train the robots.
Then someone will have to train the calibrator, adjuster, and tuner robots.
I work in the chemical industry....We are booming!
There's that. There's also the philosophical/sociological question. How can their be civilization and order if people don't have a sense of worth? Without jobs and responsibility, many will fulfill those needs in civilization-ending ways. Perhaps what the world needs for mankind to survive is LESS technology.
Globalist see themselves as citizens of the world . The USA is an economic free fire zone with no borders, tariffs, culture or history. The average US citizen gets caught in the cross fire. We are just powerless economic krill to them.
In two tier cultures south of the border the elites get kidnapped and ransomed all the time. Very common and most goes unreported. I predict that is coming to the USA.
We are probably doomed to a scene of declining employment so long as robots are coming on line and welfare is available and being continually enhanced. The same complaints led to riots and unrest during the industrial revolution as machinery replaced hand workers but there was no welfare and the displaced workers provided an available pool from which to draw employees for the new factories that made things so cheap that products were not for only the aristocracy and the merchant class and it gave rise to a proliferation of entrepreneurs and self employment and many more employers. Increase in industrial efficiency + NO WELFARE = increase in employment and prosperity. The higher the rate of remuneration for idleness the higher the number of people who engage in that occupation.
Let’s allow entrepreneurs to find a use for all the “excess workers” we are constantly told will happen because of robots. That seems like a better option than the Democrat’s plan to
1) Take as much of the entrepreneur’s profit as possible
2) Pay those “excess workers” to not work and take away the entrepreneur’s opportunity to find a productive use for them.
It’s not the first time in history that inventions have put people out of work. And we’ve always come back with a better quality of life across the board because people were allowed to get rich by figuring out what to do next. It’s hard on the workers until “next” happens. But it’s harder when the government delays “next”. And many Ds currently want to stop “next”. If Michael Moore and friends are so concerned, they are free to invest in potential “nexts” and run a HUGE profit-free company/industry if they get it right.
Perhaps the smart a** from Apple can tell us how they will sell their high-priced trinkets to robots when people no longer have jobs.
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