Audrey Conklin | Reporter
Wisconsin manufacturing facility Foxconn Technology Group announced Monday that it will open a new $10 billion plant by 2020 after talks with President Donald Trump.
Following his visit to the White House on Feb. 1, Dr. Louis Woo, special assistant to Foxconn CEO Terry Gou, said the company plans to begin production at its new plant by the 4th quarter of 2020, Reuters reports. Construction for the plant is likely to begin over the summer.
“Our commitment, from day one, has been to establish a winning formula for Foxconn and for Wisconsin,” Woo announced. “We continue to expand our presence around the state, create jobs and deepen our partnerships while innovating and adapting to meet changing market needs.”
Trump tweeted after his February meeting with Gou and Woo, “Great news on Foxconn in Wisconsin after my conversation with Terry Gou!”
Great news on Foxconn in Wisconsin after my conversation with Terry Gou! https://t.co/2wtuCdl7TX
— Donald J. Trump (@realDonaldTrump) February 1, 2019
The group will announce contractors for various construction jobs throughout the next year, and of those contracts, 95 percent will be rewarded to Wisconsin-based companies, Fox Business reports.
Wisconsin offered a nearly $4-billion incentive package in the form of tax and local tax credits in 2017 for the Taiwan-based group to move to the state and hire 13,000 people.
The Apple supplier specializes in creating liquid crystal display (LCD) screens, which are used for devices such as phones, tablets and more. The new facility is expected to be a “Generation 6” factory, meaning it will be able to create screens ranging in size from that of an iPhone to a television.
It was initially speculated that the facility would be “Generation 10,” meaning it would be able to create screens as large as up to 11 ft. After Friday’s meeting with the president, however, Woo said Foxconn will continue with plans for the smaller facility.
Foxconn and Trump came under scrutiny in January when Woo told Reuters that the manufacturing company might not build a factory, despite having accepted the state’s significant incentive package: “In Wisconsin, we’re not building a factory. You can’t use a factory to view our Wisconsin investment.”
Trump called Foxconn an “incredible company” last year at a rally in Wisconsin: “They came to Wisconsin with the most incredible plan. Has anyone seen this place? It’s the most incredible thing I’ve ever seen.”
Source: The Daily Caller
Acting Pentagon Chief Patrick Shanahan said on Monday he had provided Congress with a list of projects from the military construction budget that could be cut back in order to help pay for a wall on the border with Mexico.
Last month Trump declared a national emergency in a bid to fund his promised wall at the U.S.-Mexico border without congressional approval.
The emergency declaration allows the Trump administration to use money from the military construction budget, if needed.
Trump issued the first veto of his presidency on Friday to block a measure passed by Democrats and Republicans in Congress that would terminate his emergency declaration for a wall on the U.S. border with Mexico to stem illegal immigration and crime.
Speaking before the start of his meeting with his French counterpart, Shanahan was asked if he had sent the list of projects to Congress.
"I have," Shanahan said.
The more than 20-page document seen by Reuters included all the projects that were not awarded funding as of Dec. 31 2018.
The list includes a cemetery at the U.S. Military Academy in New York and a command and control facility at Camp Tango in South Korea.
It is essentially up to Congress to go through the list and figure out which projects will not be affected, including military housing, barracks and projects that have already been awarded funding.
The list is unlikely to satisfy Congress.
"This list is wholly insufficient and just tells Congress what projects it already approved," said Evan Hollander, a spokesman for Representative Nita Lowey, a Democrat and chairwoman of the House Appropriations Committee.
"This appears to be nothing more than another stall tactic designed to delay the political consequences of President Trump’s emergency declaration," Hollander said.
In a statement, the Pentagon said the pool of projects included was valued at about $12.9 billion. The Pentagon has said it could use about $3.6 billion from the military construction budget this year, if needed.
The issue was highlighted during a tense Congressional hearing on Thursday, when Democratic Senators demanded that they be provided a list of military that could be impacted if funding was used to build a wall.
"We know President Trump wants to take money from our national security accounts to pay for his wall, and now we have a list of some of the projects and needed base repairs that could be derailed or put on the chopping block as a result," Senator Jack Reed said in a statement.
Source: NewsMax Politics
FILE PHOTO: The logo of Foxconn, the trading name of Hon Hai Precision Industry, is seen on top of the company’s building in Taipei, Taiwan, March 30, 2018. REUTERS/Tyrone Siu/File Photo
March 18, 2019
(Reuters) – Foxconn Technology Group Ltd said on Monday it will complete work on a new factory in Wisconsin to assemble liquid crystal display screens and start production before the end of next year.
Foxconn said the next phases of factory construction will begin by this summer “and the facility will begin production in the 4th quarter of 2020.”
Foxconn initially planned to manufacture advanced large-screen displays for TVs and other consumer and professional products at the Wisconsin plant. It later said it would build smaller Generation 6 LCD screens instead.
The initial Gen6 facility will manufacture screens for education, medical and healthcare, entertainment and sports, security, and smart cities products, Foxconn said Monday.
In February, Foxconn reiterated it would still build a factory in Wisconsin after the company’s chairman spoke to U.S. President Donald Trump, following a Reuters report the Taiwanese company was reconsidering its plans.
Reuters reported in January that Foxconn was reconsidering making LCD panels at a planned $10 billion Wisconsin campus and instead intended to hire mostly engineers and researchers there.
Foxconn has stopped using the $10 billion figure in recent releases and has not responded to questions about how much it now plans to invest in Wisconsin.
The planned 20-million-square-foot campus marked the largest investment for a brand new location by a foreign-based company in U.S. history when it was announced at a White House ceremony in 2017. It was praised by Trump as proof of his ability to revive American manufacturing.
Heavily criticized in some quarters, the Foxconn project was championed by Wisconsin’s then governor, Scott Walker, a Republican who helped secure around $4 billion in tax breaks and other incentives before leaving office. Critics called the deal a corporate giveaway that would never result in the promised manufacturing jobs and said it posed serious environmental risks.
The Milwaukee Journal Sentinel reported Monday that much work on the Foxconn complex appeared to have halted over the last two months.
After the Reuters report in January, Foxconn, a major supplier to Apple Inc, issued a statement saying the global market environment had changed since the project was first announced and “necessitated the adjustment of plans for all projects, including Wisconsin.”
(Reporting by David Shepardson; Editing by Tom Brown)
Brandon Valencia | Contributor
Do you enjoy camping with friends and family but your flashlights burn out and your phone light just isn’t bright enough? For anyone who needs a source of brighter lights, consider thinking outside the box and buying LED lanterns for long-lasting effect.
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Source: The Daily Caller
FILE PHOTO: The headquarters of the Saudi Binladin Group is seen in Jeddah, Saudi Arabia May 9, 2018. REUTERS/Katie Paul/File Photo
March 18, 2019
By Stephen Kalin
RIYADH (Reuters) – The influence of Saudi Arabia’s Bin Laden family on its eponymous construction business has been curtailed in a restructuring that follows an anti-corruption crackdown by Riyadh, a document seen by Reuters shows.
Saudi businessman Khalid Nahas has been named chairman of the newly-established Binladin Group Global Holding Company, which is 36.22 percent owned by Istidama, a finance ministry subsidiary, and 63.78 percent by Binladin Company for Development and Commercial Investment.
Only two Bin Laden brothers, Saad and Abdullah, are represented on the new nine-person board, the document from the kingdom’s commerce ministry reveals, in a break from the family’s exclusive control over its earlier company, Saudi Binladin Group (SBG).
The stake owned by Istidama reflects the ownership relinquished by brothers Bakr, Saleh and Saad last year after they were arrested in the corruption purge led by Crown Prince Mohammed bin Salman.
SBG, which for decades built Saudi Arabia’s roads, mosques and palaces, is crucial to ambitious new plans for major tourism and infrastructure projects. It is not connected to Osama, one of the younger brothers in the family.
Other board members of the new entity include senior Saudi businessmen with experience at some of the kingdom’s most successful companies such as state-owned oil giant Saudi Aramco, petrochemical producer Saudi Basic Industries Corp, and property developer Jabal Omar Development Co.
Two sources familiar with the matter also told Reuters that SBG’s chief financial officer, Klaus Froelich, had resigned following the restructuring. The former Morgan Stanley banker was hired in 2016 to help the firm overcome a crisis sparked by the collapse of a construction crane in Mecca’s Grand Mosque.
Finance Minister Mohammed al-Jadaan told Reuters in December that SBG would soon have a “normal board” with family members and representatives of government ownership after a five-member committee restructured its governance.
That committee was led by Abdulrehman al-Harkan, a former chief executive of Riyadh-based developer Dar Al Arkan, who is not on the new company’s board.
Jadaan left open the possibility that the Binladin company could eventually be listed on the stock market.
Reuters reported in September that SBG had ended up on a collision course with the government after chairman Bakr Binladin and his shareholder brothers resisted earlier pressure to list.
Saleh and Saad Bin Laden were released last year under the anti-corruption campaign, which netted princes and ministers, shattered investor confidence and was decried by critics as a shakedown and power play. Bakr was temporarily released in January but sources say he later returned to detention.
(Additional reporting by Hadeel Al Sayegh and Marwa Rashad; Editing by Alexander Smith and Mark Potter)
Lauryn Overhultz | Columnist
Actor Justin Theroux was not able to settle a lawsuit with his neighbor during talks Monday.
This is Theroux’s second time in court in the past two weeks as he met with Manhattan Supreme Court Justice Gerald Lebovitz to talk about the lawsuit between him and his neighbor, Norman Resnicow, according to Page Six.
After meeting with both parties, Lebovitz said, “This matter cannot be settled. The parties are impossibly far apart.”
Both parties declined to comment on the lawsuit. Theroux’s lawyer, Eric Sherman, said they wouldn’t comment because “the case is very fluid right now.”
Resnicow originally sued Theroux over $1 million renovations to his West Village co-op according to the 2017 lawsuit documents. Theroux claimed Resnicow bullied him and Aniston after they didn’t immediately soundproof the apartment during the renovations.
Theroux then claimed that Resnicow trespassed on his property and harassed his construction workers. Last month, Theroux accused Resnicow of physically abusing his wife. (RELATED: Justin Theroux Accuses His Neighbor Of Domestic Abuse)
Talks on Monday were had in an effort to reach a settlement before the lawsuit went to trial. However, without a settlement, Theroux will be back in the court room soon. A trial date has yet to be set.
Source: The Daily Caller
Jason Hopkins | Energy Investigator
Law enforcement officials are confiscating substantially larger amounts of methamphetamine as Mexican drug cartels increasingly push the drug into U.S. markets.
A drug-tracking system from the Drug Enforcement Administration (DEA) indicates that a total of 347,807 law enforcement meth seizures were submitted to various labs across the country in 2017, according to a Wall Street Journal report. The number is a 118 percent hike from 2010 submissions.
U.S. meth-related deaths hit 6,762 in 2016, according to the Centers for Disease Control and Prevention. This is approximately 3.5 times the amount in 2011. While specific data beyond 2016 is not currently available, provisional data through July 2018 indicates that meth-related deaths are still climbing.
The flood of meth, a popular synthetic drug that is made in labs, has made it much more affordable for U.S. consumers and inflamed the drug overdose crisis currently plaguing the country.
“Everybody’s biggest fear is what’s it going to look like if meth hits us like fentanyl did,” said Jon DeLena of DEA’s New England office said to the Wall Street Journal. Access to fentanyl, a dangerously potent synthetic opioid, has led to mass overdoses across the country. Many fear that the increased trafficking of meth could result in similar death rates.
DEA officials are blaming the situation on Mexican drug cartels, which are more aggressively pushing the drug into the U.S. interior as they attempt to rival South American-made cocaine. The synthetic stimulant is now becoming more prevalent in many regions — such as the U.S. Northeast — where meth was more-or-less scarce.
Meth production in the U.S. has generally declined in the past 10 years, but this trend has been offset with an increase in supply from Mexico.
“They’re flooding it through tunnels, they’re flooding it through ports of entry, they’re flooding it between ports of entry,” stated DEA Special Agent Doug Coleman.
News of meth’s rise follows President Donald Trump’s ongoing battle with Congress to secure the U.S.-Mexico border with a massive wall.
Congress allocated just over $1.37 billion to finance 55 miles of border wall in Texas following gridlock between Democratic and Republican lawmakers. Trump accepted that funding in February, but he then declared a national crisis. The president has since requested an additional $8.6. billion for wall construction. (RELATED: Trump To Close Immigration Offices In Other Countries To Save Money)
Trump vetoed a Congressional resolution that disapproved of his emergency declaration — the first veto of his presidency. However, a number of lawsuits are still seeking to block the declaration in court.
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Source: The Daily Caller
Lauryn Overhultz | Columnist
“The Bachelor” host Chris Harrison is back at the Bachelor Mansion and shared the news with a photo of the 75,000-square-foot beauty Saturday.
The massive home was damaged during the California wildfires last November, but it looks like the newest season of “The Bachelorette” will be filmed at the mansion location as usual. (RELATED: Remember The Bachelor Mansion? It’s Burning To The Ground In The California Wildfires)
“She’s never looked so gorgeous,” Harrison wrote. “After what our community has been through this year, I’m more grateful than ever to be back home.”
The main house remained intact after the Woolsey fire, but a structure used for production offices did burn down, according to Us Weekly. Construction began on the mansion in January so that the mansion could be ready for filming of “The Bachelorette.”
“We do a lot of good in the community. We shop here, eat here and stay here at the hotels. And dump a lot of money into the community when we shoot here,” Harrison told The Hollywood Reporter. “So my goal is to make sure we get back into the house and use it, especially this season, to show that we’re back and that the city is good. And hopefully, bring the money and the jobs back here.”
Source: The Daily Caller