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Analysis: A company under Trump attack makes a bold move: It repeatedly ignores him
In a conference call with investors this week, Rexnord Industries reaffirmed its decision to go ahead with a business plan President Trump has condemned in a set of blistering tweets.
“Rexnord of Indiana made a deal during the Obama Administration to move to Mexico,” Trump tweeted on May 7. “Fired their employees. Tax product big that's sold in U.S.”
“We’ve essentially completed the last plant move, and we’re currently focused on bringing the last pieces of equipment on line,” Adams said on the call Thursday. The company's business strategy, which was two years in the making, was beginning to deliver results, he went on. “We’re definitely on track to hit our goal of $30 million in annualized savings,” Adams said.
Rexnord, which is based in Milwaukee, had avoided the spotlight for nearly 30 years. Under the White House’s intense glare, it has not changed course in its plans to shut down factories in the United States and move jobs to Mexico.
The supplier of ball bearings and other industrial parts is wrapping up the closure of a half-century-old plant in Indianapolis — 200 of the 300 workers there have so far been laid off. It is investing in automation, which could reduce the need for American employees elsewhere. And over the last year, despite getting swept into political turmoil, its profits have slightly grown.
originally posted by: Sublimecraft
a reply to: alphabetaone
This is a huge complex problem and if anyone has the experience and ability to fix it, it will be a business person, not a politician who is so far removed from living in the real world it's not funny.
originally posted by: ttobban
a reply to: alphabetaone
Keep on voting Red/Blue because they are the limited options and the only 'so called' option to help change the path of the U.S. equates.
For once, I'd like to see the Red/Blue voters take blame for allowing the toilet to spin but never flush. I'd really like to shift focus to the crappy politicians, but its the voters that are crappy... the ignorance of how much the Red/Blue regime causes all these chaotic issues by holding firm onto a system that has only showed failure is quite thick.
A vote is wasted the second it is used to vote for the lesser of evils.
I know I'm talking to a wall... I just wanted my 2 cents in.
originally posted by: alphabetaone
My hope (as much in vain as it was), was that President Trump would have been able to actually find a way to stop the bleeding to outsourcing and moving jobs out of this country.