Posted on 04/16/2011 6:04:06 PM PDT by traumer
There are few paper shredders in the world that can rip an A4 piece of paper into 2,000 pieces, and come with functions like SilentShred, SafeSense, and “100% Jam Proof”—and most that do have the name “Fellowes” printed on top. But consumers may soon be able to buy, say, the deluxe Powershred C-480Cx, without the Fellowes brand, because the company’s entire business in China has been stolen by its joint venture partner.
Over 1,600 workers at the joint venture facility in China turned up one day in August last year to find that the factory gates were locked, trucks had blockaded the entrances, and a group of rough-and-ready enforcers were telling them to move on.
And some days later, in the dead of night, a truck entered the facility and stole some of the million-dollar manufacturing tools used to make the shredders, some of which weigh several tons. The joint venture partner “proceeded to destroy our business,” according to James Fellowes, the CEO, at a Congressional Hearing on March 31.
(Excerpt) Read more at theepochtimes.com ...
Trusting the Asians is a risky business.
I don't really feel solly for this fellow, pun intended. I could have told him this was going to happen.
There is no morality in the Chinese system. It is amazing that anyone would be foolish enough to go into a joint venture with people who see nothing wrong with stealing and stabbing you in the back. There are no laws protecting patents or copyrights and nothing is done to punish such blatant theft.
The Chinese plan on doing this with every business. It is just a matter of time.
Any company foolish enough {seem to be plenty of them} to be business partners with the Communist Government of China DESERVES what they get.
The TV show "The Sopranos" covered the method in small scale with their representation of how the Soprano gang looted Tony's childhood friend's stationary and office supplies store.
The Chinese appear to have this method down to a T including running up unpaid bills with numerous suppliers ~ who then sue and force a bankruptcy.
Fellowes will quickly learn to go along with these guys because STEP 2 of the traditional method is to kill a couple of their victim's closest relatives if he doesn't go along.
That's probably going to happen sooner rather than later now that this story is out. We also see why Obama gave the Chinese top dog a state dinner ~ a nod to the new Don.
The rumors were true!
All I can say is James Fellowes, is a fool.
The FBI has been gloating and chortling over how they hornswaggled the Italian and Sicilian mafioso on the East Coast, but they forgot Chinatown, and now a far greater conflict with criminal gangs is on the loose.
The FEC is just now looking into where Obama's campaign got its near $1 billion bankroll. That's chumpchange. Trump, who is competent, will get far more!
Re post 12, ditto.
>> “Fellowes has mostly written off the China business, and is starting another manufacturing facility in Illinois.” <<
Fellowes is either abysmally stupid or... well, anyone who’d want to start a business in Illinois under control of the Chicago mob and after the China fiasco at this point is just abysmally stupid. Nothing else to say.
Sounds like anyone doing business with the Chinese is pretty stupid. Or so blinded by greed that they just don't care to think about the risks involved if things go sour.
Serves them right for sending American jobs and building factories in China.
Crony Zombie Capitalism in a Communist country
I believe you are right
I think you are 10000000000% wrong. It should be trust communists is a risky business, no matter what race it is...
I’m an Asian and people trust me 100000000000%
Their fault for working with the PRC. You’d think people would have learned by now...
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