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Posted Saturday July 21, 2007
     
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GUEST VIEWPOINT

Tier money building Chinese economy

By Kenneth R. DeSerio
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Endicott Interconnect Technologies Inc.'s quote on opening a production site in China: "'It will be a positive thing' for area, company says." Except for one BIG thing: The taxpayers of New York state, Broome County and the local people of Endicott gave them all the enormous tax breaks and other huge perks that allowed them to buy and operate after taking over the former IBM location and personnel.

What happened to our local economy? It certainly is not going to have a BIG impact here except to see local American workers slowly and surely become a non-existent work force. CEO Jim McNamara Jr. and his high-paid local cronies stand to pad their already full pockets even more, thanks to the Chinese economy and low wages workers will be paid.

What happened to all the promises and big speeches that were made when EI received all the New York state wealth and push from our very honorable Sen. Tom Libous? Where is he now when EI is sending a massive amount of "American technology and labor" offshore to a country that can't even keep the exported food source clean and uncontaminated!

Wake up, New York state taxpayers -- it is your money that made EI a business to start with. Now it's your money that is building an economy in China, which is a positive thing for the Chinese economy and a death sentence for ours here in New York state and Broome County.

Our U.S. Sen. Hillary Clinton, state Sen. Libous and the rest of our state, county and local politicians need to take a stand and address this EI move and pull any and all funding and tax relief support. Contact them and make your voice heard.

DeSerio is a resident of Nichols.
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EIT is building a facility in China, and the Chinese keep building all-you-can-eat buffets here..... what's the big problem?

Posted by: Mikey on Mon Jul 23, 2007 9:50 am

Here's another concern. Paper products use old growth trees and utilize clearn cutting. I wonder what the percentage of recycled paper is used in local companies that sell paper products?

Posted by: jli2533838 on Sun Jul 22, 2007 2:23 am

fud,

Average hourly wages increased (http://www.bls.gov/news.release/empsit.nr0.htm) by .06 in June. That's .72 cents per year or 4.5%. Core inflation is 2%. I think Headline Inflation is 4.5% so the average hourly worker is trading water at $17.32 per hour as of June.

I read the Financial Sense article but I don't have a problem with the birth/death model. You will find an explaination of the birth/death model at http://www.bls.gov/web/cesbd.htm.

I've listened to the Financial Sense News Hour every weekend for about a year and a half. If you keep listening to them you will never invest your money. They feed on Gloom and Doom. Have you ever listened to Marc Fabor? You will note that it's run by Steel on Steel productions. I really don't know a lot about Steel on Steel but I once listened to gloom and doom tape put out by them about 15 years ago. It was on the UN.

Steve

Posted by: skutney on Sat Jul 21, 2007 4:26 pm

How the Government Creates Jobs

http://www.financialsense.com/editorials/benson/2007/0524.html

If unemployment rates were really as low as the government would like us to believe wages would be increasing. They are not.

Posted by: fud on Sat Jul 21, 2007 1:15 pm

According to the Bureau of Labor Statistics (www.bls.gov) the states with the lowest unemployment include Hawaii and Montana at 2.4%, followed by Idaho at 2.5%. Arizona at 3.4% and New Mexico at 3.2%. The US average is 4.5%. New York is 4.5% with New York City at 5%. These are historically low rates. In fact they can be considered inflationary. In the past the Federal reserve would have rased rates to increase these figures because of the inflationary bias.

The question that must be asked is what is being done differently in the states with the lowest unemployment rates.

Steve

Posted by: skutney on Sat Jul 21, 2007 10:18 am

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