Haier buys General Electric's appliance division for $5.4 billion
Thus ends GE's involvement in the consumer space (GE's consumer electronics division was sold off long ago).
They still have an assembly plant where I live. It used to employ thousands but now I don't think many people still work there. No doubt they'll shut it down for good now. So much for American jobs.
That's what happens when you make quality stuff in America.
I still own:
>25 year old tv
>13 year old refrigerator
>15 year old washer/dryer combo
How are they supposed to make money when their stuff lasts forever?
Honestly makes me fucking salty
Like unbelievably salty. My parents lost their job when fucking Whirlpool bought out Maytag and shut down the plant.
Whirlpool was allowed to do this because General Electric was considered fucking competition in the home appliance market.
Now fucking General Electric the ONE OTHER SINGLE COMPANY THAT HAD A PLANT IN THE USA is going to fucking shut down.
Fuck American Oligopoly Plutocracy I welcome Communism if only to spite the richest fucks destroying the USA
Yeah man we have a giant GE facility and the headquarters of Otis Elevator. Otis and GE both moved most operations to Mexico 15 years ago. Now with this I'm sure the remaining GE jobs are done for.
You're cancer. Those manufacturing jobs paid 20$ an hour. All that is left are <12$ service sector jobs.
There is nowhere else you can go to work at manufacturing plants anymore, they are all being shipped overseas, sold off, and shut down.
We don't have a middleclass anymore, congratulations you got your aristocracy and neofeudal states you so desired.
guess they'll have to start putting those people on welfare. there's going to be a massive population of people who are no longer able to work through no fault of their own. of courswe they'll probably call it something else. gov't allowance or some shit.
Yeah government did away with welfare pretty much because muh elections. Instead they moved welfare recipients to disability.
What can we do about it /g/? Things are going to turn to shit, real shit, if the lower middle class can't make a living.
Jewyness.But theres hope. My company has made several attempts to open divisions in third world countries only to have them fail miserably because the workers there have horrible work ethics, low intelligence, and the infrastructure of those countries can't support the kinds of things American businesses take for granted. Getting repair parts delivered in a timely manner to shit holes in Mexico and Brazil is still a challenge in this day and age.
>My company has made several attempts to open divisions in third world countries only to have them fail miserably because the workers there have horrible work ethics, low intelligence, and the infrastructure of those countries can't support the kinds of things American businesses take for granted.
But, China has workers with good work ethics, moderate to high intelligence, and pretty good infrastructure that constantly improves through large, strategic state investments.
Which is exactly why Chinese labor will be too expensive in less than 20 years. Companies would try to go to Africa, but they can't because the people won't stop killing each other, they have no education, and no one will invest in the infrastructure.
>no one will invest in the infrastructure.
The Chinese will and as a matter of fact they are buying up Africa to exploit its copper and rare metals.
Stop buying Chinese goods.
Used to work in customer service for Bosch, which also owns Thermador and Gaggenau. Man, household appliances are high-margin as fuck. That $7,000 "professional-grade" 6-burner + griddle range + steam ovens cost literally cost a seventh of msrp to construct. Although at least those are still manufactured in Tennessee. That $1,000 condensation front-loading HE detergent-only 32-cycle washing machines cost a ninth of msrp to construct... in China. You're extremely lucky if yours lasts more than 5 years without needing a new motor, control unit, or an entire drum replacement (since you can't just buy the bearing by themselves lol fuck you we welded them to the back of the drum assembly kek).
In fact, if you're in need of a replacement part, just forget it and buy a new one altogether. Because yes, we are required by consumer protection laws to stock your part for 7 years, but they said nothing about price-gouging you $400 for the plastic fascia panel on your $800 condensation-drying dishwasher.
And no, you will be charged for this service call ma'am. I know you're still in our one-year warranty, but those scorchmarks occurring on your $4,000 4-burner + grill-insert gas cooktop is considered a cosmetic issue, even if we are aware of the problem and have had an "enhancement kit" issued by technical support. Fuck off ma'am.
Robert Bosch Ghmb is the parent company. BSH Home Appliances - North America is the subdivision I worked for.
At least once a day you'd get a random phone call about a security system. We transferred your ass to the "security systems" telephone number on our phonelist faster than you can say "thank you." Or better yet, you'd get the "sir, you have the wrong number... Yes it IS " Bosch" but unless you're calling about a refrigerator or a microwave, I can't help you."
But the latter usually just led to a longer talk time.
No, I never worked for or with Bosch.
Bosch Security is a wholly-owned subsidiary of Robert Bosch GmbH.
Bosch is a really interesting company in that it's almost entirely owned by a charity, and the company is encouraged by its owners to reinvest its profit back into the company and only distribute what's left over after reinvestment to the charity.
I had a GE microwave, it was in my household since before I was born until I was 15 years old, thing was a fucking tank. My father worked for 19 years at GE Healthcare but he had to leave because of some political pressure due to shady deals with the Middle East.
THE LOGICAL END OF CAPITALISM
SWALLOWED BY COMMUNISM
China doesn't actually own a residual claim on US assets. US Treasury notes are not like a bank loan. Also, Japan is the largest holder of US debt after your doomsday scenario came true and China stopped buying US debt and they raised rates a couple basis points to entice the next country in line.