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Rexnord Corporation is closing its ball bearings plant in Indiana, laying off its 350 workers, and exporting those jobs to Mexico. In addition, as part of its US workers severance package, many of those workers are training their Mexican replacements, who will $3 an hour with no benefits. John Feltner is a machinist earning $25 an hour in the Indianapolis, Indiana plant. He resents having to train his replacement, but he’ll lose his severance package of $5,000 if he refuses.

Most of the difference in pay between US and Mexican workers will go straight into the pockets of wealthy shareholders. Rexnord’s share price peaked at $30.82 in April 2014. It’s been dropping ever since. It hit a low of $14.72 on January 15 2016, rose a tad, and has stayed stagnant since, hovering around $22. No doubt CEO Todd Adams is hoping that exporting jobs to Mexico will increase its bottom line and attract investors to bid up the share price and his compensation. His CEO pay is tied to the share price thanks to legislation signed by then President Bill Clinton.

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Exporting jobs and CEO pay tied to corporate share price are two of the biggest factors in the widening gulf between the 1 percent and everybody else because they redistribute income and wealth from one group to the other. Currently, six individuals own more wealth than the bottom 50 percent of humanity, while the 1000 richest individuals own more wealth than the bottom 70 percent. Currently, in the USA, the 1 percent steal 35 percent of all income every year, compared to 8 percent in 1980, thanks to their ownership of such politicians as the Clinton’s, Wyden, Mitch McConnell and Orrin Hatch.

John Feltner and his 350 fellow workers lost their jobs thanks to Bill Clinton, who signed legislation deregulating Wall Street, as well putting his signature on the North America Free Trade Agreement (NAFTA. NAFTA was negotiated by Clinton’s representatives with an eye to getting US corporations to export US jobs to Mexico in order to boost their bottom lines. After he left the presidency, Wall Street rewarded the Clinton’s for their service to the tune of tens of millions of dollars. The Clinton’s are still faithful servants of Wall Street in their war against the middle class, such as the workers at the Rexnord plant.

We also can’t forget Democratic Wall Street Senator Ron Wyden has continuously supported redistributing the income of the middle class to billionaires. The Democratic Party is corrupted to the core by big money, though maybe a bit less than the Republican Party. But then again, maybe not.

“The big picture is that American jobs are leaving this country to exploit cheap labor,” Feltner said. “When you start taking away the middle class, what do you have left?”

This is the sentiment that President Donald Trump played to so effectively during the 2016 presidential campaign. It spoke to John Feltner somewhere down deep.”

“He’d been a loyal union man for years, been raised on the notion Democrats were the party of the working man and made calls for Democrats from union phone banks. But after the trade agreements that Bill Clinton and Barack Obama signed, and after Trump spoke to the plight of workers at places such as Carrier, John Feltner broke ranks.

With the layoff fresh on his mind, he cast his November vote for Trump. He says most of his rank-and-file union members did the same.”

And what were those workers supposed to do? Support Hillary Clinton who aspired to export millions of US jobs to China via the Trans Pacific Partnership (TPP), which was being negotiated on behalf of Wall Street by then President Barack Obama?

Feltner and his fellow employees don’t know what they’re going to do once their jobs are gone. Thank you Bill Clinton. Thank you Barack Obama.

For more on this story, click the following link, Rexnord’s Indiana Plant Exported to Mexico–USA Today

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This week, the Ford Motor Company announced that it was no longer going to export all small car production to Mexico, which meant exporting US jobs. The company will invest $700 million in Michigan, instead, and create another 700 jobs in the process.

Ford CEO Mark Fields said this move was a vote of confidence in Donald Trump. “We didn’t cut a deal with Trump. We did it for our business,” Fields told CNN’s Poppy Harlow in an exclusive interview Tuesday.

During the election season, Trump repeatedly slammed Ford for exporting tens of thousands of US jobs to Mexico.

Now here’s what you haven’t been told. Ford’s share price dropped from a recent high of $17.72 in 2014 to $11.34 on November 2016. Then came the election on November 8, and a subsequent rise in the overall price of corporate shares. So far, Ford’s share price has risen to $13.17 since November 4. Would Ford have kept the jobs in the USA if its share price was heading in the other direction. Not likely.

The billionaires, Wall Street investment corporations and hedge funds are taking cash out of the bond markets and stuffing that cash straight into the stock markets, thereby expanding the bubble, which will soon pop.

When the bubble pops, share prices will fall, and you can bet your bottom dollar that Ford will soon be exporting as many jobs as possible to enhance its bottom line and prop up its failing share price.

The economy should hit the recession by June of this year. Expect the stock and housing market bubbles to pop shortly afterwards.

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Official portrait of President Barack Obama in the Oval Office, Dec. 6, 2012. (Official White House Photo by Pete Souza) This official White House photograph is being made available only for publication by news organizations and/or for personal use printing by the subject(s) of the photograph. The photograph may not be manipulated in any way and may not be used in commercial or political materials, advertisements, emails, products, promotions that in any way suggests approval or endorsement of the President, the First Family, or the White House.

Official portrait of President Barack Obama in the Oval Office, Dec. 6, 2012. (Official White House Photo by Pete Souza)

This is the second in a series of the accomplishments and the worst of President Obama. Click here for Part 1.

1. Obama normalized relations with Cuba after sixty years of trade embargo. Now Cuba can upgrade its economy, and the US has a new trading partner. There are a ton of people who opposed this move, but those are the same corporate hacks who support exporting US jobs to Mexico, China, Vietnam and elsewhere. I had a friend a long time ago who said he opposed the Vietnam War. This was back in 1980 or so. “If we hadn’t gone in there,” he said, “they’d be capitalists by now.”

2. Obama authorized the raid that killed Osama Bin Laden. He announced the terrorist leader’s death in a live speech to the country saying, “Last week, I determined that we had enough intelligence to take action and authorized an operation to get Osama Bin Laden and bring him to justice.” The Republican president before Obama was such an incompetent he couldn’t figure out where Bin Laden was, much less kill him.

3. He helped stimulate the auto industry after the financial crisis. Chrysler and GM have created 250,000 jobs since then. Of course, many of these new jobs are in Mexico.

4. He signed the Dodd-Frank Act, which holds Wall Street accountable a little bit in the event of another financial crisis. In reality, the Dodd-Frank Act doesn’t regulate hedge funds even a little, and the act was heavily watered down by Wall Street lobbyists. So Dodd-Frank wasn’t much of anything, except that it included a provision for the establishment of the Consumer Protection Agency, which Wall Street executives and billionaire investors feared because it meant they couldn’t cheat and lie to the common folk as easily as before.

5. Obama backed down like a whipped dog when Wall Street billionaires and executives demanded he not appoint Elizabeth Warren to head the new Consumer Protection Agency. This turned out to be a good thing, even if by accident. Warren later became a US senator and is likely to be the next president of the United States in 2020.

Among Obama’s worst decisions:

He appointed Arne Duncan to be US Secretary of Education. Duncan is a firm believer in using every child possible to enhance the profits of the testing industry, especially Pearson Limited, a long time financial sponsor of the Democratic Party. When Duncan announced his resignation the president of the AFT teachers union said, “there’s no question that the Department of Education’s fixation on charter schools and high-stakes testing has not worked.” US K-12 public education students are the most tested in the world, and by a wide margin. It’s all about the money folks, that’s what US educational reform means. Obama’s education policy was a complete, or nearly complete, failure.

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Several days ago, Donald Trump announced he had successfully negotiated with United Technologies, parent corporation of Carrier Corporation, to keep “1100” of the 1700 Indiana jobs about to be exported to Mexico. Trump had vigorously campaigned against exporting US jobs, but isn’t that primarily what US negotiated trade agreements are all about? Precisely!

Trump promised during his campaign that he would tax US corporations that exported jobs, and then shipped their products made in other nations to the USA.

When push came to shove, Trump backed down on his promise like a scared nerdy kid against a gang of bully thugs. Trump offered tax cuts, equivalent to giving up the nerdy kid’s lunch money, rather than tax increases. In other words, United Technology executives got away with extortion.

Worse yet, Trump must have known he’d been spanked, so he exaggerated the number of jobs he’d negotiated to save. For $7 million in tax breaks, Trump saved 730 jobs, not the 1100 he’d claimed a week ago.

According to the Washington Post,

“Trump had pledged to save the plant’s jobs, most of which were slated to move to Mexico. Then the businessman won the election, and the 1,350 workers whose paychecks were on the line wondered if he’d keep his promise.

Chuck Jones, president of the United Steelworkers 1999, which represents Carrier employees, felt optimistic when Trump announced last week that he’d reached a deal with the factory’s parent company, United Technologies, to preserve 1,100 of the Indianapolis jobs — until the union leader heard from Carrier that only 730 of the production jobs would stay and 550 of his members would lose their livelihoods, after all.

In exchange for downsizing its move south of the border, United Technologies would receive $7 million in tax credits from Indiana, to be paid in $700,000 installments each year for a decade. Carrier, meanwhile, agreed to invest $16 million in its Indiana operation. United Technologies still plans to send 700 factory jobs from Huntington, Ind., to Monterrey, Mexico.”

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Carrier Corporation is moving to Mexico, and laying off hundreds of workers in Indianapolis.

Carrier Corporation is moving more production to Mexico, and laying off hundreds of workers in Indianapolis.

Donald Trump negotiated with United Technology (UT) officials to keep 1000 US jobs from being exported to Mexico. That means, however, that Trump failed to save 1100 other United Technology jobs from being exported to Mexico. Give Trump some credit. He negotiated and won some concessions.

Last year UT announced it would export 2100 jobs to Mexico, and Trump railed about how he would tax the products of any US jobs exporter that manufactured stuff overseas, and then exported their products to the USA. Trump was going to be tough on corporations like UT.

So when push came to shove, tough guy Trump backed down. Trump made a promise to save all of those jobs, and he backed far away. Give him credit, Trump wasn’t as weak-kneed on this issue as President Obama. He saved some of the jobs.

Trump will reportedly give the company tax and regulatory favors that the corporation has sought.

Bernie Sanders wrote,

“Instead of a damn tax, the company will be rewarded with a damn tax cut. Wow! How’s that for standing up to corporate greed? How’s that for punishing corporations that shut down in the United States and move abroad? In essence, United Technologies took Trump hostage and won. And that should send a shock wave of fear through all workers across the country.”

This sends a loud and clear signal that any corporation can threaten to export jobs and receive tax cuts that will be paid for by US workers.

Instead of being tough, Trump was pummeled into submission. United Technologies makes billions of US defense contracts. Instead of leveraging that, Trump offered them tax cuts. What a wimp! He had them by the financial scotum with those defense contracts, or through the use of selective tariffs, and Trump fell to his knees with a light verbal body blow. Apparently, taking a dive is Trump’s art of the deal.

So what needs to be done?

Sanders wrote, “If United Technologies or any other company wants to keep outsourcing decent-paying American jobs, those companies must pay an outsourcing tax equal to the amount of money it expects to save by moving factories to Mexico or other low-wage countries. They should not receive federal contracts or other forms of corporate welfare. They must pay back all of the tax breaks and other corporate welfare they have received from the federal government (and state governments, and with interest). And they must not be allowed to reward their executives with stock options, bonuses or golden parachutes for outsourcing jobs to low-wage countries. If Donald Trump won’t stand up for America’s working class, we must.”

For more on the story click the link below.

Bernie Sanders: United Technologies Executives Just Showed Corporations How To Beat Donald Trump-Washington Post

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Sioux Chief Relocates Manufacturing Back Home to the USA

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Sioux Chief brought back jobs to Kansas City, Missouri from Mexico. The plant manufactures plumbing products. The facility is now operating at full capacity.

“It’s been a major undertaking moving from one country to another, but our pre-planning really paid off,” says Joe N. Ismert, President of Sioux Chief Manufacturing. “We are getting up to speed and production is getting better each day.”

The Nogales plant was acquired along with two other plants when the rough plumbing manufacturer purchased Watts non-core product line in September 2015, consisting of assets related to its brass ttings, brass & tubular and vinyl tubing product lines.

“The integration of Watts product lines was critical for us,” says Ismert. “The product overlap and the manufacturing competency will absolutely help add to our presence as a manufacturer and leverage our ability to produce world class products.”

This move further demonstrates Sioux Chief’s ongoing commitment to manufacturing the majority of its SKUs in the USA and gaining control over the entire manufacturing process to guarantee the highest quality.

“Being located in the heart of the United States is both desirable and more ef cient logistically,” Ismert stated. “It allows us to respond quickly to our customer’s demands—and now, as part of our American operation, we’ll have greater opportunities to innovate this category.”

Additionally, the relocation has provided Sioux Chief with the opportunity to add an additional 30 dedicated, hardworking Americans to the company family.

http://contractormag.com/piping/plant-acquisitionrelocation-brings-jobs-back-mexico

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The Eaton Corporation has decided to shut down its Berea Ohio factory where it manufacturers quick-connect couplings for hydraulic lines. More than 100 will lose their jobs.

The first layoffs will begin in April 2017 and the plant will be closed by December.

Eaton plans to buy the couplings from another manufacturer and ship them to a plant it owns in Mexico where workers will assemble them. Shares in Eaton peaked in 2014 at about $80. On Friday it closed just above $60 a share. The company will redistribute the wages of its soon to be former employees to rich shareholders in order to jack up share prices. Eaton management has been doing this since 2014.

Eaton cut some 2,500 jobs in 2015, closing eight factories in an effort to boost its declining share price. It is likely many of these jobs were exported to Mexico.

Eaton describes itself as a diversified industrial manufacturer of power management technologies, including electrical, hydraulic and mechanical power. Eaton’s products are used in mining, oil, solar, wind, other electrical systems, agricultural equipment and large trucks.

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