Posted on 12/07/2016 8:45:22 PM PST by Pinkbell
MEXICO CITY Retailer Wal-Mart de Mexico will invest $1.3 billion in logistics in Latin America's No. 2 economy, the company said today, a show of confidence in Mexico at a time of uncertainty after the election of Donald Trump.
Recently, United Technologies Corp's Carrier unit decided to keep half of the 2,100 Indiana jobs it was to shift to Mexico after President-elect Trump worked out an agreement with the company's CEO, Gregory Hayes.
A Wal-Mart Stores Inc. spokeswoman did not immediately respond to a request for comment on whether the world's largest retailer had heard from Trump after it made the announcement in Mexico.
The election has thrown Mexico's business world into uncertainty, as Trump has attacked U.S. companies investing south of the border and threatened to renegotiate or scrap a major trade agreement with Mexico . A large part of Wal-Mart's investment will be over the next three years, including in back-end infrastructure, said the company's chief executive, Guilherme Loureiro. He said it would create some 10,000 permanent new jobs.
It will involve the building of new distribution centers, as well as the expansion of ones we already have, he said at an event with President Enrique Pena Nieto at the president's office.
Loureiro said the company had already invested 80 billion pesos ($3.93 billion) in the past four years.
(Excerpt) Read more at toledoblade.com ...
https://twitter.com/SopanDeb/status/806600338098835457
This is excellent. Now, instead of being deported, they can just request a transfer.
I think it is smart and good business plan to expand your business into new and promising markets
Its not like they are firing all their US workers and shipping all the jobs to Mexico
I believe Walmart is the largest employer in the world.
We actually want these types of service sector jobs in Mexico. It will spark their economy down there.
This is how you help neighbors in a productive way.
It helps them without being destructive of our nation.
If Mexico’s economy caught fire just below the border, a lot less Mexican nationals would feel the need to come here.
Over the last few weeks, I’ve been advocating to Trump to support this sort of thing.
This is great!
...advocating Trump do...
Sell Chinese stuff in Mexico instead.
Well, its a start.
What Trump is against is wage arbitrage against the American manufacturing workers by exporting the manufacturing jobs to low wage countries, then importing the product to sell in America. Trump has never criticized American companies expanding and providing local jobs in other countries. Walmart is not a manufacturer. It can’t pit Mexican lower wage workers in Mexican stores against American workers in American Walmart stores. This is a non issue.
You are right. As I said, there is a difference in expanding business to Mexico and shipping American jobs there.
Exactly. However, just read some of the liberal responses at the link in post one.
Yes. Walmart is spreading, not relocating. It’s fine.
Not much of a difference. They can always build factories or distribution centers in foreign countries as they expand, without needing to fire workers here. But that doesn’t mean they couldn’t have done that expansion here instead of there. You’ll have no way of knowing if trucks from the Mexican center end up shipping goods to Texas and elsewhere in the U.S.
The reality is some of you central-planning types need to realize that you cannot control and plan an economy from your ivory tower. You have let it expand freely and naturally. You cannot constantly put your thumb on the scale and try to make the economy do what you “think” will benefit America. A truly free economy without artificial borders and barriers erected by nosy busybody know-it-all bureaucrats benefits everybody.
The last thing an economy needs is to make business owners wait around to get the rubber stamp of a government regulator every time they decide to make a business decision.
“What Trump is against is wage arbitrage against the American manufacturing workers by exporting the manufacturing jobs to low wage countries, then importing the product to sell in America.”
The other part of this that doesn’t get it’s share of the discussion is the impact on the ability to purchase anything at any price once you don’t have an income. So much to say, as American job losses approach 100%, our ability to buy anything, including the cheaper stuff from foreign producers approaches zero!
And all of this is driven by business managers whose sole driver is profitability in the short term, because that’s how they get the next promotion.
We are not all socialists now, just you.
PROFIT is what makes the world go ‘round. The profit motive is what makes an economy work. You don’t need any other motivation.
These paranoid delusions about job losses reaching 100% is utterly ridiculous. People like you would have fought the industrial revolution too and made sure we were all still milking cows and churning butter because of your insane “fears.” You’re the right’s answer to the left’s global warming paranoia.
“PROFIT is what makes the world go round. The profit motive is what makes an economy work. You dont need any other motivation.”
Tell that to the people who have lost jobs to foreign businesses or domestic ones who have left the country. And BTW, I don’t have any insane fears. The simple fact is that our businesses have been chasing cheap labor for probably 30 years, and when they don’t ship their work off-shore, they want the country to allow them to bring it here and let the American worker train their foreign replacements. Just how does this all play our for our people?
All we need is an ‘utterly’ VAT tax... /s
“All we need is an utterly VAT tax... /s”
Well, I’d settle for CEO’s who had some ethics and morals for starters. You certainly can’t say the guy at Carrier who told everyone their lifetime jobs had been outsourced to Mexico had any. And part of the precursor was the guy’s predecessors who capitulated to union wage demands that exceeded amounts which allowed the company to be profitable. Somewhere between a job that has a union gravy train compensation plan, and the desire to use slave labor there is a point that need to be found if we are to survive as a nation. And surely Trump knows that jawboning every company that wants to shove off isn’t a viable plan. So let’s see what he can do in the tax and regulations area for starters.
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