Saturday, December 03, 2016

Trump Targeting Rexnord Next

RedState provides some crappy information, but y'all know who this player really is--and where they are really based.

President-elect Donald apparently targeting another Indiana company for its decision to move jobs out of the country....Rexnord is an Indianapolis based machine parts manufacturing company. Reports suggest that they are planning to move approximately 300 union jobs and 80 managerial jobs to Mexico....

The Indy division is the old Rex-PT, acquired in 1988.  The history here is ironic:

...Interestingly, PT Components had a history longer than and somewhat parallel to that of Rexnord. It was originally founded in the 1870s as Ewart Manufacturing Company in Indianapolis, Indiana, by W.D. Ewart, a co-worker of Rexnord's founder, C.W. LeValley. Ewart had beaten inventor LeValley in the race to patent detachable link belts, but LeValley discovered a way to develop a link belt product that did not infringe on Ewart's patent and established his own company. The two companies were competitors in this field. Ewart Manufacturing later became the Link Belt Company and eventually PT Components....

Well, anyway, we'll see what happens with the TrumpTweet.  To all the pure, 'wind-driven snow' libertarian capital-firsters out there like Levin, this will be another bloody rape scene.  To the 400 or so Rex/Indy employees, not so much.

By the way, those capital-firsters are not doing their Libertarian homework very well:

...Decades ago, economists like Mises and Rothbard were already arguing that tax breaks are not economically or ethically equivalent to receiving subsidies. Simply put, being permitted to keep your income is not the same as taking it from competitors. Exemptions and loopholes do not forcibly redistribute wealth; taxes and subsidies do, thereby benefiting some producers at the expense of others....

IOW, it really isn't the Gummint's money to give in the first damn place.

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