The Briefing Room
General Category => Economy/Business => Topic started by: ABX on March 02, 2018, 09:40:45 pm
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Vacuum and home appliance giant Electrolux (ELUXY) halted a $250 million U.S. investment due to fears over the effects of the Trump aluminum and steel tariffs......
....But Sweden's Electrolux Friday said it is now delaying a planned $250 million investment in Tennessee due to concerns the measures will cause a spike in metal prices. The world's second biggest home appliance maker buys American steel in all its U.S.-made products......
https://www.investors.com/news/electrolux-halts-250-million-u-s-investment-over-trump-tariffs-on-steel/ (https://www.investors.com/news/electrolux-halts-250-million-u-s-investment-over-trump-tariffs-on-steel/)
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Sometimes the laws of unintended consequences just don't work your way. :nono:
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It is important to keep in mind the devastation caused to USA industries by foreign competitors who dump their often substandard products into the USA market. Keep in mind that foreign governments often subsidize their corporations with child labor, unsafe working conditions, unenforced or non existent pollution controls and cheap labor. China is one of the worst offenders with tainted food products, poor quality and profiteering by their government owned (military owned) companies. This in spite of China stealing our patented or proprietary products. Even then it is incumbent upon the USA to insist upon fair trade and not protectionist trade. In the case of Electrolux, they are free to establish a production facility in the USA to take advantage of the ability to produce a high quality product by skilled and productive USA labor and pay a fair price for the raw materials used.
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(http://theelectroluxman.com/scrapbookFiles/mailedD35.jpg)
They were the bomb in the 50's.
Not so much anymore.
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Wingnut wrote:
"They were the bomb in the 50's."
We had one just like that many years ago.
I still have one -- at least 30+ years old -- that was my mom's. Still runs great, though the cannister is plastic, not metal.
Back in my days on the New Haven Line, the old Electrolux factory (pretty large, they had their own railroad siding) was located in Old Greenwich, just west of Stamford.
They moved quite a few years' back... to where I didn't know, until I read this thread!
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(http://theelectroluxman.com/scrapbookFiles/mailedD35.jpg)
They were the bomb in the 50's.
Not so much anymore.
The people that made the bullet proof vacuum cleaners was actually Aerus who licensed the Electrolux name. They still service and sell the old style Electrolux vacs. The stuff that Electrolux puts out now is carp! I found this out when my mom asked me to repair her old Eletrolux, Aerus wanted more money for just the vac motor, not counting labor and incidentals then a brand new vac of decent manufacture would cost, hell she only vacs about a hundred square feet!
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(http://theelectroluxman.com/scrapbookFiles/mailedD35.jpg)
They were the bomb in the 50's.
Not so much anymore.
My Mom had one like that. Worked for decades. Since I bought my house in 1989 I've been through 6 vacuums. They don't make 'em like they used to.
Also, if I remember correctly, Electrolux vacuums could only be bought from a door-to-door salesman. They weren't available in stores.
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It is important to keep in mind the devastation caused to USA industries by foreign competitors who dump their often substandard products into the USA market. Keep in mind that foreign governments often subsidize their corporations with child labor, unsafe working conditions, unenforced or non existent pollution controls and cheap labor. China is one of the worst offenders with tainted food products, poor quality and profiteering by their government owned (military owned) companies. This in spite of China stealing our patented or proprietary products. Even then it is incumbent upon the USA to insist upon fair trade and not protectionist trade. In the case of Electrolux, they are free to establish a production facility in the USA to take advantage of the ability to produce a high quality product by skilled and productive USA labor and pay a fair price for the raw materials used.
That bullshit was all said before to varying degrees in 1930.
It took a recession into a depression that would have been endless had a world war not gotten us out of it.
Tariffs are borne by Americans and their choices limited to whatever the government tells them they should buy. And, to boot - trade wars lead to hot wars.
This stupidity is going to bite us far more viciously than what the protagonists say the benefits will be.