"Poverty cycle" for businesses

One of the good things about working overseas is that many companies, supply medical insurance as a part of the package - no cost to the worker. In addition, usually, all local taxes are paid on behalf of the worker and, if a foreigner, a certificate of local taxes paid, is furnished annually.

A lot of these 'bennies" come about because of local government regulations (Indonesia required the company to be responsible for any "income taxes") and or because of requirement of your clients, nearly all the contracts we worked required that the company have, and demonstrate the existence of, complete medical coverage for their employees for any and all work related injuries/sickness.

On the other hand, no company, that I knew of, supplied insurance for care by the U.S. medical system. In our case we would evacuate you to Singapore. Singapore doctors used to be wholly educated by (usually) either British or U.S. schools. Now they have their own medical schools, but their standards are (I believe) still based on the British standards.

So essentially, if you signed up for a job that paid, say $10 a month, you got the whole $10.

Reply to
John B. Slocomb
Loading thread data ...

Well, I don't know :-) I had a good friend who was working for Unocal, I believe, in Singapore as an engineer. The company, of course, furnished housing and transportation and took care of local taxes. He lived in a place that 10 years ago went for 5,000 dollars a month, and elected to take money in place of a car and furnished his own transportation (the subway). My guess that he was taking home something over 100,000 a year, cash money, and as he wasn't using a U.S. passport he paid no taxes.

Reply to
John B. Slocomb

But Ed, you are posting facts. You know how the far-right in these newsgroups feel about factual information.

Reply to
mogulah

Aaron's Machinery on Halsted by Lake may be the last hold out. I'm not sure what justifies a "showroom" of riveting machines, but they're still there as everything next to and across the street has been demolished and turned into ugly condos and stuff like that. Lake street is no longer nothing but chop shops and sketchy businesses.

Reply to
Cydrome Leader

Condos bring in a lot more in property taxes, a lot of those old

19th century buildings are obsolete and cannot be updated to meet todays building codes at a reasonable cost. Sad but true. Chicago has been de-industrializing for a long time now as they want a service based ecconomy.

Best Regards Tom.

Reply to
Howard Beal

Bullcrud, "Gross metropolitan product for the Chicago area -- which includ es the Chicago, Joliet and Naperville areas -- is expected to reach $610.4 billion in 2014, surpassing the $585.9 billion reached in 2013 and $571 bil lion in 2012. The Chicago area made up 78.2 percent of the total gross [Ill inois] state product in 2012." --

formatting link
ecast-to-grow-13.html

Sep 2, 2010 - During the years of 2001-2008, Chicago-Naperville-Joliet GDP grew at an annual rate of 4% in nominal terms and in real terms the economy ... (Econpost)

"Among metropolitan areas, Chicago has the fourth-largest gross domestic pr oduct (GDP) in the world, just behind Tokyo, New York City and Los Angeles. "

--

formatting link

Reply to
walter_evening

Why does everything for you fall on the "evil far right" or "normal" perception? Does every disagreement get filed this way? Does every issue get painted with your politics? I wonder what tragedy happened to you that so defined your being?

Reply to
Tom Gardner

Bullcrud, "Gross metropolitan product for the Chicago area -- which includes the Chicago, Joliet and Naperville areas -- is expected to reach $610.4 billion in 2014, surpassing the $585.9 billion reached in 2013 and $571 billion in 2012. The Chicago area made up 78.2 percent of the total gross [Illinois] state product in 2012." --

formatting link

Those stated gains are not the result of manufacturing.

The state lost 10,300 manufacturing jobs during the 12 months ended Nov. 30. Cutbacks occurred at Caterpillar Inc. and other industrial equipment producers as demand for mining equipment, agricultural equipment, power generation machinery, aircraft parts and medical equipment all slowed, according to Wells Fargo.

formatting link

Sep 2, 2010 - During the years of 2001-2008, Chicago-Naperville-Joliet GDP grew at an annual rate of 4% in nominal terms and in real terms the economy ... (Econpost)

What percentage of that groth is the result of manufacturing?

"Among metropolitan areas, Chicago has the fourth-largest gross domestic product (GDP) in the world, just behind Tokyo, New York City and Los Angeles."

--

formatting link

How much of that GDP is the result of increased production of durable goods?

Best Regards Tom.

Reply to
Howard Beal

Gunner Asch on Fri, 02 Jan 2015 11:58:02 -0800 typed in rec.crafts.metalworking the following:

One wonders how much of that "deinustrializing" is a result of other factors than equipment and facilities age going into making the locations non-profitable. Age of a building doesn't necessarily mean a great deal. There was an ice house in London, some years back, which after a hundred plus years in operation, closed. There was some concern that all that was holding parts of it up was the ice in the brickwork ...

-- pyotr filipivich "With Age comes Wisdom. Although more often, Age travels alone."

Reply to
pyotr filipivich

PolyTech Forum website is not affiliated with any of the manufacturers or service providers discussed here. All logos and trade names are the property of their respective owners.