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3M CEO says "We Can Move Overseas"
RtWngExtrmst
Member Posts: 7,456
3M CEO Buckley, who has run the diversified manufacturer since 2005, said: "There is a sense among companies that this is a difficult place to do business. It is about regulation, taxation, seemingly anti-business policies in Washington, attitudes towards science."
He added: "Politicians forget that business has choice. We're not indentured servants and we will do business where it's good and friendly. If it's hostile, incrementally, things will slip away. We've got a real choice between manufacturing in Canada and Mexico - which tend to be pro-business - or America."
The 3M chief also criticised US immigration policy, saying the difficulty of obtaining visas was forcing companies to move research and development overseas. "About 68 per cent of our science PhD candidates are from outside the US," he said. "Many want to stay here afterwards but we're not allowed as many visas as we would like."
"We are now exporting science overseas to China, India, Germany, building labs there. There's a good strategic reason for it, but we also have no choice - if we can't get the people here and we're competing with the people there, we have no choice but to do it locally."
Mr Buckley struck a gloomy note on the US economy. "The macro numbers seem to be improving but when we look at the micro numbers - at what's going on in housing, automotive, in manufacturing in general - it's hard to get enthusiastic about it," he said
http://www.ft.com/cms/s/0/bd9b4100-429b-11e0-8b34-00144feabdc0.html#axzz1FGC1tWZA
He added: "Politicians forget that business has choice. We're not indentured servants and we will do business where it's good and friendly. If it's hostile, incrementally, things will slip away. We've got a real choice between manufacturing in Canada and Mexico - which tend to be pro-business - or America."
The 3M chief also criticised US immigration policy, saying the difficulty of obtaining visas was forcing companies to move research and development overseas. "About 68 per cent of our science PhD candidates are from outside the US," he said. "Many want to stay here afterwards but we're not allowed as many visas as we would like."
"We are now exporting science overseas to China, India, Germany, building labs there. There's a good strategic reason for it, but we also have no choice - if we can't get the people here and we're competing with the people there, we have no choice but to do it locally."
Mr Buckley struck a gloomy note on the US economy. "The macro numbers seem to be improving but when we look at the micro numbers - at what's going on in housing, automotive, in manufacturing in general - it's hard to get enthusiastic about it," he said
http://www.ft.com/cms/s/0/bd9b4100-429b-11e0-8b34-00144feabdc0.html#axzz1FGC1tWZA
Comments
Seems to be saying our education system is not producing the talent needed to keep up with research and development and our government is punishing business for being successful.
Yep !
I have talked to a few businessmen who will openly say that they cannot get the talent they need .
And if it comes down to the survival of the strongest ,they will move .
Former Member U.S. Navy Shooting Team
Former NSSA All American
Navy Distinguished Pistol Shot
MO, CT, VA.
We'll take and support your scum, but you can keep your best and brightest!!!![:(!][:(!][:(!][:(!][:(!]
What will it take?[V]
And while Rome burns, B'HO plays the fiddle....... Americans just keep fiddling.....
[:(!]
Just keep voting party. It's too late now anyway.[:(!]
Some Corporations are moving out of China because China owns 51% of the company and companies are finding that hard to deal with.
If any foreign company in China is 51% owned by China, it's because that company made that kind of deal. There is nothing in China to prevent a foreign company from owning 100% of it's China subsidary. China has 3 kinds of corporations: 100% Chinese; 100% foreign; 49/51% foreign/Chinese.
The immigration issue is enough to make you .... fill in the blank![:(!]
We'll take and support your scum, but you can keep your best and brightest!!!![:(!][:(!][:(!][:(!][:(!]
What will it take?[V]
SHTF.
Second, I work with a guy whose wife is a CHEMIST. Yes, she has a PILE of schooling, and I belive her to be a VERY bright woman. Yet, I see no one knocking down her door to offer one of these glorious jobs. Maybe the guy is full of crap, or MAYBE they want forgein workers who are happy to work for peanuts.
First, they MUST be a union company. All I hear from posters here is that those EVIL unions are the ones running businesses out of country. Even the OP'er has claimed this. So which is it? Can you please make up your minds so we know what to vilify..... [xx(]
Second, I work with a guy whose wife is a CHEMIST. Yes, she has a PILE of schooling, and I belive her to be a VERY bright woman. Yet, I see no one knocking down her door to offer one of these glorious jobs. Maybe the guy is full of crap, or MAYBE they want foreign workers who are happy to work for peanuts.
This CEO is full of crap about not finding people to work for him. This (in red, above) is the correct observation. They don't want to pay chemists and researchers what they are really worth, and won't pay them what they are worth because foreigners will do the work for 2/3 the pay and be happy.
The regulations in this country make it expensive to do business here......so they want to head to a country that will turn their head to problems that may arise from low regulation standards......period.
Companies are backing off of China as a cheap source of labor because China is stealing their intellectual properties......period.
These companies are all about the CHEAPEST......PERIOD!!!!!
quote:Originally posted by freemind
First, they MUST be a union company. All I hear from posters here is that those EVIL unions are the ones running businesses out of country. Even the OP'er has claimed this. So which is it? Can you please make up your minds so we know what to vilify..... [xx(]
Second, I work with a guy whose wife is a CHEMIST. Yes, she has a PILE of schooling, and I belive her to be a VERY bright woman. Yet, I see no one knocking down her door to offer one of these glorious jobs. Maybe the guy is full of crap, or MAYBE they want foreign workers who are happy to work for peanuts.
This CEO is full of crap about not finding people to work for him. This (in red, above) is the correct observation. They don't want to pay chemists and researchers what they are really worth, and won't pay them what they are worth because foreigners will do the work for 2/3 the pay and be happy.
that's about the REAL situation right there...
maybe 3M should outsource the CEO position to Japan, I hear their execs are happy with less and do a MUCH better job [;)]
3M CEO Buckley, who has run the diversified manufacturer since 2005, said: "There is a sense among companies that this is a difficult place to do business. It is about regulation, taxation, seemingly anti-business policies in Washington, attitudes towards science."
He added: "Politicians forget that business has choice. We're not indentured servants and we will do business where it's good and friendly. If it's hostile, incrementally, things will slip away. We've got a real choice between manufacturing in Canada and Mexico - which tend to be pro-business - or America."
The 3M chief also criticised US immigration policy, saying the difficulty of obtaining visas was forcing companies to move research and development overseas. "About 68 per cent of our science PhD candidates are from outside the US," he said. "Many want to stay here afterwards but we're not allowed as many visas as we would like."
"We are now exporting science overseas to China, India, Germany, building labs there. There's a good strategic reason for it, but we also have no choice - if we can't get the people here and we're competing with the people there, we have no choice but to do it locally."
Mr Buckley struck a gloomy note on the US economy. "The macro numbers seem to be improving but when we look at the micro numbers - at what's going on in housing, automotive, in manufacturing in general - it's hard to get enthusiastic about it," he said
http://www.ft.com/cms/s/0/bd9b4100-429b-11e0-8b34-00144feabdc0.html#axzz1FGC1tWZA
This? Where is this? St. Paul, MN? The northern U.S. in general? Same old story that been in the news for the better part of the past half century, and nothing has changed other than more companies are being run out of these locations. for the life of me, I simply can't figure it out!