And if you buy this, then I have a bridge to China constructed from iPods that I’ll sell you for really cheap.
If this supposed interrogatory on the part of President Obama happened in February 2011, why are we only now hearing about it? Answer: It probably didn’t happen in quite this way — I think the NYT is playing a game of hope-a-dope, because it’s now the election year, Obama will deliver a “middle and working class” heavy campaign speech pretending to be a SOTU address this week, and I bet this “story” is planted and timed agitprop in a concerted propaganda campaign to make us think Obama cares about white middle and working class voters.
If he were serious about making AAPL do some manufacturing in the United States, he wouldn’t ask it at a fund raiser where and when he’s passing the hat around to those same people, (hint: beggars can’t be choosers), he would be demanding legislation to use the fully constitutional power of regulating foreign trade and commerce to force Foxconn to manufacture a percentage of their total output in the United States as a price of being able to access the lucrative American consumer market. Furthermore, he would make sure the Foxconn factory is in a swing state like Ohio, and would hire working and middle class non-college educated middle aged native born white American men, not trucking in cheap labor Asians with H-xB visas.
But he’s not serious about it.
And he’s not serious about the outsourcing matter. Proof: GMAC. While Obama essentially ran GM, as part of its unique Chapter 11 arrangement to preserve UAW-negotiated contracts and benefits for both current and retired union employees, GM’s finance arm, formerly known as General Motors Acceptance Corporation, which was semi-spun off as part of the bankruptcy and renamed Ally Financial, outsourced a lot of its white collar employment from Michigan to India. And it happened without one word of protest from the President who was in effect the CEO of the entire outfit.