Apple is sitting on about $54 billion in cash right now. iPad’s are still back ordered, and the company is looking at record earnings.
However, this isn’t generating jobs here- it’s generating jobs in China- where the workers can’t afford to buy the products:
Taiwanese contractor Foxconn said today it would hire 400,000 workers at new plants in China. The plants will be built closer to the new employees’ homes, as the company tries to increase worker happiness after a recent number of suicides. The company’s revenue has increased by 50 percent and will help afford the new workforce, which will number between 1.2 and 1.3 million.The new factories will be built at inland provinces Henan and Sichuan …This plant has about 900,000 workers, and over five years, this is expected to decrease by 170,000 with those workers moving to the new plants.
And to think Apple used to make computers in Fremont, California- with former auto workers and a lot of automation. Just imagine the impact if Apple decided to start making products in America again- maybe even at the former GM Moraine Assembly plant?
If American companies want to have a U.S. market in the future- their best investment would be to start hiring Americans as fast as possible- before the dollar becomes worthless on international markets and our economy collapses.