Another company bought by China

[W1JKA]

  China (WalMart), the 0ne percenters, politics (gun control and loss of personal basic freedoms, Corporate agriculture? Not to worry folks, when the silent majority has had enough they will take a lesson out of OUR past history and that of recent and current events i.e. Egypt, Syria, Ukraine and act upon it then the cycle will start all over again.

[K9MHZ]

They are slowly destroying themselves. Their cities are dying slowly but surly. It's only a matter of time before they are in some serious trouble.

I don't know where you're getting that.  Every time I'm there, every major city has massive infrastructure construction going on.  The rate of building is staggering.  Their new roads, ultra-modern buildings and bridges, airports, etc make ours look like a joke. 

If you're referring to pollution, then we agree.  But if they're "dying slowly", they surely don't show it.  I think the "slowly dying" part is a much better description of the United States.

[W8JI]

My wife was HR manager at a Leggett and Platt plant down here. They employed about 200 people. L&P made a manufacturing deal with China. The agreement was a typical Chinese trade agreement that the plant had to be dismantled and the equipment sold or scrapped.

Those 200 people went on unemployment, and US taxpayers had to pay retraining and other things because the jobs were lost to foreign trade, plus taxpayers had to pay extended insurance benefits and re-education of workers.

This is how the system really works. The workers get screwed, the US taxpayers get screwed, the Chinese get the work, and the company making the agreement to move jobs offshore doesn't have to pay much of any of it.

We have a broken system.

[K0OD]

My wife was HR manager at a Leggett and Platt plant

My father bought a chunk of Leggett & Platt 10% convertible bonds 35 years ago. I still own the stock those bonds were converted into long ago.

LEG has been a fabulous success for investors and many of their workers. It has 19,000 full time employees, many no doubt millionaires. Not bad for a once-tiny mattress company from Carthage MO.

[W8JI]

My wife was HR manager at a Leggett and Platt plant

My father bought a chunk of Leggett & Platt 10% convertible bonds 35 years ago. I still own the stock those bonds were converted into long ago.

LEG has been a fabulous success for investors and many of their workers. It has 19,000 full time employees, many no doubt millionaires. Not bad for a once-tiny mattress company from Carthage MO.

It's a great company for investors and employees, so far. Like all companies today, when it ships jobs to China it just devastates local economies. Worse yet, the taxpayers and former employees assume most of the loss.

That's the way it is when jobs leave for China.