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Corporate Welfare

Foxconn: Perhaps – Perhaps – a Few Lessons Learned

Scott Cohn of CNBC reports After Wisconsin’s Foxconn debacle, states and companies rethink giant subsidies. Rethinking is a hopeful prospect, but there has been significant lasting damage, as Cohn reports: Economic development officials in Wisconsin say they are more than ready to move on to other matters now that they have renegotiated a massive subsidy deal…

Foxconn: New, More Realistic Deal Means 90% Reduction in Goals

After years of flamboyant lies about what Foxconn would be able to achieve in Wisconsin, there’s a new deal with that foreign corporation. That new arrangement reflects a reduction of 90% or more in what Wisconsin expects and what the state will offer. Local governments have already wasted millions on absurdly grandiose, false promises Not…

Foxconn’s Venture Capital Fund

Bruce Murphy has a solid assessment of Foxconn’s much-touted (by Foxconn) venture capital fund in About That Foxconn Venture Capital Fund. It’s well worth reading in full. A few key points: Unfulfilled: Louis Woo of Foxconn had promised this venture fund for startup companies would naturally connect to Foxconn’s innovation centers in Eau Claire, Green Bay…

After Years of Promises, Foxconn Will Think of Something…by July

Years of claims, promises, declarations, announcements (and private homes destroyed along the way), and yet Foxconn still needs a bit of time to think of something to make. Just give ‘em a sec, they come up with something by July: Liu said that the company will announce what it will make in Wisconsin before July.…

Highlight’s from The Verge’s Foxconn Assessment

No failure better reveals the bankruptcy of corporate welfare in the Walker and Trump years than the Foxconn project in Wisconsin: exaggeration upon exaggeration, but nothing productive. This was a failure of judgment so obvious and significant that everyone involved should retire from policymaking. Walker Administration, Trump Administration, the WISGOP, the WEDC, down to Whitewater’s Community…

Accountability Comes Calling at Foxconn

After years of grandiose – ludicrous, truly – claims about Foxconn from Trump to Vos to boosters in Whitewater, Accountability has made her way to Foxconn. If not Accountability personified, then at least Missy Hughes (the new, Evers-appointed leader) of a slightly-reformed WEDC. Josh Dzieza of the national publication The Verge reports Wisconsin denies Foxconn tax…

Foxconn & UW-Madison: Two Years and Less Than One Percent Later…

Kelly Meyerhofer reports UW-Madison still waiting on Foxconn’s $100 million pledge 2 years later: Foxconn Technology Group gave no money to UW-Madison over the past year, renewing questions about the company’s commitment to its $100 million pledge to the university nearly two years ago. UW-Madison received $700,000 in the first of a five-year agreement — less than…

Foxconn’s ‘Innovation’ Centers: Still Empty a Year Later

 Over at the national tech website The Verge, Nilay Patel reminds that a year later, Foxconn has still done nothing with the ‘innovation’ centers that foreign corporation promised it would open around the state. They’re still empty:    See FOXCONN’S BUILDINGS IN WISCONSIN ARE STILL EMPTY, ONE YEAR LATER. In Whitewater, the ‘Greater Whitewater’ Committee…

A Newspaper’s Boosterism During a Pandemic

A worthy person – a man or woman committed to reason, honesty, and seriousness of purpose – would have little respect for the Janesville Gazette. This critical view is not a new one, truly: the paper’s work has been inferior during the Great Recession, during an opioid crisis, during cheerleading for countless state and local…

Declines, Recessions, and Rhetoric

While yesterday was a bad day for the financial markets, it’s the underlying – and troubling – fundamental condition of the economy that matters far more. Places like Whitewater, that adopted business special interests’ “if-you-build-it-they-will-come” approach despite increasing poverty and stagnation in household and individual incomes, are especially vulnerable to a downturn. Market Declines. Steven…

Do Yorkshire Terriers Dream of Being Wolves?

Perhaps Yorkshire terriers dream each night of being ferocious wolves.  If that should be so, and if even tiny dogs imagine themselves as mighty predators, then there may be a natural explanation – in animals and people – for the yearning of smarmy local development men for gigantic corporate welfare schemes. Of those men and…

A Reminder About Opportunity Zones: Bad Policy Flacked Locally

Those following what passes for economic policy in Whitewater know that this website has been rightly critical of the economic opportunity zones that were part of Trump’s tax bill. See About that Trump Tax Bill, More About that Trump Tax Bill, and The Trump Tax Bill: That’s Not Reform. Jenny Schuetz, commenting on part of Trump’s…