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Google faces a new lawsuit accusing it of gender-based pay discrimination. A lawyer representing three female former Google employees is seeking class action status for the claim. The suit, filed Thursday in San Francisco Superior Court, follows a federal labor investigation that made a preliminary finding of systemic pay discrimination among the 21,000 employees at Google’s headquarters in Mountain View, California. The initial stages of the review found women earned less than men in nearly every job classification.

Google disputes those findings and says its analysis shows no gender pay gap.

The suit, led by lawyer James Finberg of Altshuler Berzon LLP, is on behalf of three women — Kelly Ellis, Holly Pease and Kelli Wisuri — who all quit after being put on career tracks that they claimed would pay them less than their male counterparts. The suit aims to represent thousands of Google employees in California and seeks lost wages and a slice of Google’s profits.

“I have come forward to correct a pervasive problem of gender bias at Google,” Ellis said in a statement. She says she quit Google in 2014 after male engineers with similar experience were hired to higher-paying job levels and she was denied a promotion despite excellent performance reviews. “It is time to stop ignoring these issues in tech.”

Google spokeswoman Gina Scigliano said the company will review the suit in detail, “but we disagree with the central allegations.”

“Job levels and promotions are determined through rigorous hiring and promotion committees, and must pass multiple levels of review, including checks to make sure there is no gender bias in these decisions,” she said.

Charges of gender discrimination have swirled at Alphabet Inc.-owned Google since the U.S. Labor Department sued in January to bar Google from doing business with the federal government until it released thousands of documents related to an audit over its pay practices. The sides have been battling in court over how much information Google must turn over.

The lawsuit also follows the firing of male engineer James Damore, who wrote a memo circulated on internal message boards that blamed inherent differences between men and women for the underrepresentation of women in engineering roles.

Source: chicagotribune.com

The post Women’s class-action suit against Google allege they were paid less than male counterparts appeared first on Mirror Bank FX.

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Brent oil prices held steady near five-month highs, and were on track for the highest weekly rise since the end of July on higher demand forecasts and the restart of oil-hungry refineries in the United States. The Organization of the Petroleum Exporting Countries this week forecast higher demand for its oil in 2018 and pointed to signs of a tighter global market, indicating its deal with non-OPEC states to cut output is helping tackle a glut.

That was followed by a report by the International Energy Agency (IEA) saying the glut was shrinking thanks to strong European and U.S. demand, as well as production declines in OPEC and non-OPEC countries.

“Prices have now advanced for the last two weeks off increased demand forecasts from both OPEC and the IEA combined with the near-term demand uplift expected as U.S. oil refineries seek to restart operations post Hurricane Harvey,” analysts at Panmure Gordon said.

Benchmark Brent crude was up 7 cents at $55.54 a barrel at 1117 GMT in a volatile session that stretched from an intra-day low of $54.86 to a high of $55.74 a barrel. The contract was on track for its third straight weekly gain and the highest weekly rise since the end of July.

U.S. West Texas Intermediate crude was up 8 cents at $49.97 a barrel. The contract was set for a more than 5 per cent weekly gain, also its strongest in nearly two months.

Oil investors eyed further impact from increasing crude demand from U.S. oil refineries restarting after hurricane outages.

On Wednesday, 13 of 20 affected U.S. refineries were at or near normal operating rates and another five were restarting or ramping up, according to IHS Markit.

Analysts at HSBC said that despite the U.S. refinery outages, 2017 was set to be an “extremely strong year” for oil demand growth, a key factor underpinning a rise in prices.

“We remain convinced of longer-term upside to crude prices. With the lack of new major project sanctions, we expect conventional non-OPEC supply to start declining post-2018,” they said.

They maintained their 2018 and 2019 Brent price assumptions at $65 and $70 a barrel, respectively.

Source: thegloeandmail.com

The post Brent crude near five-month high in most bullish week since July appeared first on Mirror Bank FX.

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President Michel Temer of Brazil was slapped with a second round of corruption charges on Thursday, further tarring his standing as he struggles to finish out his term and put in motion an ambitious package of economic reforms. During his final days on the job, Attorney General Rodrigo Janot charged Mr. Temer with obstruction of justice and with being part of a criminal conspiracy that involved a plot to prevent the authorities from learning about a wide-ranging kickback scheme.

Last month, Mr. Temer managed to avoid standing trial in a case based on the same investigation by persuading enough members of the lower House of Congress to block the charges from reaching the Supreme Court, the only court where sitting elected officials may be prosecuted.

The new charges cap an extraordinarily busy couple of weeks for Mr. Janot, whose term expires on Friday. He filed charges accusing Mr. Temer’s two predecessors, Dilma Rousseff and Luiz Inácio Lula da Silva, of running a scheme that siphoned billions of dollars from Brazil’s treasury.

In the latest case against Mr. Temer, the lower house of Congress must once again vote on whether it should go to trial in the Supreme Court. While analysts believe that the president will avoid prosecution given Brazilians’ weariness of political upheaval, it is likely to come at a price and stand in the way of making headway on his reform agenda. He needs at least 172 of the 513 lawmakers to back him.

In June, Mr. Temer became Brazil’s first sitting president to face criminal charges when the attorney general charged him with accepting a $152,000 bribe. Last month, the lower house voted to spare Mr. Temer from standing trial in that case. In the weeks before the vote, Mr. Temer doled out millions of dollars in federal money to key congressional districts, in what some critics called an effort to sway lawmakers.

Mr. Temer has vehemently denied all allegations of wrongdoing and tried to have Mr. Janot removed from all cases related to him, arguing that the charges were politically motivated. This week, the Supreme Court denied the request.

Despite an approval rating in the single digits, Mr. Temer has rallied support among investors by portraying himself as the only leader capable of pulling Brazil out of the economic quagmire left by his predecessors from the leftist Workers’ Party. And while he has used up much of his political capital in Congress, a new twist in the investigation is expected to work in his favor.

Both the initial charges and this latest round are based on the testimony of top executives of the meat-processing giant JBS, Joesley Batista and his brother Wesley. As part of a plea bargain that enabled them to avoid prison, the brothers testified that Mr. Temer and several other politicians had accepted bribes.

As part of that case, Joesley Batista had secretly recorded a meeting Mr. Temer at his residence in Brasília. It was another recording, this one of Mr. Batista, that appeared to call into question the reliability of the witnesses.

In that recording, which surfaced last week and seemed to have been submitted to the authorities inadvertently, Joesley Batista suggests that he had improper contact with a former prosecutor from the attorney general’s office while he was seeking a plea deal.

After the new recording emerged, Mr. Janot revoked the immunity of Mr. Batista and the other person heard on the audio, Ricardo Saud, a former executive for J & F Investimentos, which controls JBS. On Sunday, they turned themselves in to the federal police. The two men are defendants in the latest case against Mr. Temer.

The recording reduces the “political punch” of the new charges, according to João Augusto de Castro Neves, the Latin America director at the Eurasia Group, a political risk consulting company, “reinforcing our view that Mr. Temer will have an easier time defeating the second motion against him.”

Source: nytimes.com

The post President Temer of Brazil Faces New Corruption Charges appeared first on Mirror Bank FX.

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Britain should judge Rupert Murdoch’s bid for broadcaster Sky (SKYB.L) on facts and not politics or risk stifling inward investment after Brexit, his son and fellow executive James Murdoch said on Thursday.

Appearing before an audience of media executives hours after the government referred Twenty-First Century Fox’s (FOXA.O) $15 billion bid for a detailed investigation, James Murdoch struck a combative tone in defense of his family’s record in building global businesses that span TV, film and news.

He was confident, he said, that the country’s independent regulators would assess the deal on its merits and not be swayed by politicians with scores to settle over how his father’s newspapers had treated them over the decades.

“Whether or not 30 years ago someone had a grievance about a political position that a newspaper took … is irrelevant,” Murdoch, who is CEO of Twenty-First Century Fox and chairman of Sky, said at the Royal Television Society’s Cambridge Convention.

“We have a clock on this now. We are confident it goes through.”

The Murdochs returned to buy full control of Sky in December 2016, more than five years after a phone-hacking scandal at their now-defunct News of the World tabloid newspaper sank a previous attempt.

Since that failure they have split their company in two, separating the newspapers from the entertainment assets to help to smooth the deal’s passage deal.

But their reputation remains damaged in Britain after a public inquiry revealed close ties between Rupert Murdoch and prime ministers Margaret Thatcher, Tony Blair and David Cameron, creating the impression of a puppet master pulling the strings of the country’s politicians.

Theresa May’s government has been much more cautious, referring the bid for lengthy investigations and in one instance ignoring the advice of media regulator Ofcom, which had cleared it on grounds of broadcasting standards.

James Murdoch cast himself as apolitical, saying his own opinions did not influence the way he runs a group that made content ranging from The Simpsons cartoon to the award-winning Sky News and movies such as Avatar.

“My politics are not an issue here,” he said.

“It’s an irony that in the U.S., in some sectors, they think I‘m a raging liberal environmentalist tree hugger, and here I‘m the right-wing demon who is going to Foxify everything.”

Asked if he had spoken to the government about a separate investigation into newspaper ethics, he replied: “The government won’t take a meeting with me.”

UNDER THE MICROSCOPE

Media Secretary Karen Bradley told the same conference that she had referred the deal to the Competition & Markets Authority (CMA) to give the public confidence in the regulatory process.

“I want (the CMA) to look at the concerns that have been raised. You will see when we publish all the information on this exactly why the referral has been made,” she said.

To secure the deal Fox will now need to prove it can uphold broadcasting standards during a six-month review that follows a series of sexual harassment and discrimination lawsuits at the Fox News network in the United States.

Asked if the Murdochs could be trusted after presiding over scandals at their British newspapers and later at Fox News, James Murdoch said the company had dealt with the problems effectively.

He defended his stewardship of Sky, saying that few others had invested as much and over such a long period. He added that the issue of inward investment would become even more important as the country prepares to leave the European Union.

“If the UK truly is open for business post-Brexit we’ll look forward to moving through the regulatory review process and this transformative transaction for the UK creative sector becoming an affirmation of that claim,” he said.

The government has given the CMA 24 weeks to examine the deal. It will make recommendations, including any possible remedies, to Bradley.

“I must then come to a final decision on whether or not the merger can proceed,” Bradley told parliament on Thursday.

Sky shares dipped by 0.4 percent to 928.5 pence on Thursday, well below the 10.75 pounds per share offered by the Murdochs for the 61 percent of the company they do not already own.

Source: reuters.com

The post Judge Fox bid for Sky on merits not politics: James Murdoch appeared first on Mirror Bank FX.

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Apple fans who froze their credit after the Equifax data breach may end up with another hassle on their hands if they try to get one of the new iPhones that can cost more than $1,000. People who rushed to lock down their credit and want to make any other big purchases may find the same inconveniences.

Since Equifax disclosed that 143 million Americans had their Social Security numbers and other personal data hacked, experts have encouraged people who may affected to put in place what’s known as a credit freeze. That locks down a person’s credit from being stolen by identity thieves — but could also mean delays and more fees for Equifax victims who want to finance a new phone.

You can unfreeze your credit before a big purchase and freeze it again afterward. How long it will take and how much it costs vary state by state. Experts say generally it’s best to give the major credit bureaus — TransUnion, Experian and Equifax — notice of several hours or even a few days before you apply for financing. And people just getting used to the idea of freezing their credit could pay $3 to $10 for each action at each of the three bureaus.

Payment plans are a growing business for the major wireless carriers, many of which no longer subsidize a customer’s purchase, because a monthly payment makes an expensive smartphone more affordable. And Apple and the wireless carriers often need access to your credit report in order to approve the sale of a new phone under a monthly plan.

“But if you are someone who has frozen their credit record, you may suddenly discover that you can’t afford an iPhone X, after all,” said Patrick Moorhead, an industry analyst with Moor & Insights.

Providence, Rhode Island-based Citizens Financial Group, which runs the Apple financing program, said any new or existing customer who has a credit freeze on their information will be declined financing. So they would have to unfreeze their credit, at least temporarily. Sprint, Verizon, T-Mobile and AT&T run credit checks with the agencies for new customers. Policies vary for existing customers.

Analysts say two-year financing plans have become essential to selling high-end smartphones. International Data Corp. analyst Ramon Llamas called them “critical.” Moorhead expects virtually everyone interested in the new iPhone X, which rolls out later this year, to use an installment plan.

Apple rolled out its program two years ago that lets customers upgrade to a new phone each year and divides the cost of the phone into a monthly payment. The company doesn’t share details on how many customers finance their phones through Citizens/Apple instead of their carriers, and declined to disclose how many of its iPhones are financed.

For other carriers, it’s clearly big business. AT&T sold 3.58 million smartphones to customers under payment plans last quarter, according to its most recent filing. Verizon customers financed $14.51 billion in smartphones under the company’s payment plan in the first six months of 2017, and roughly half its customers who pay a cellphone bill at the end of each month are on a payment plan.

The Verizon and AT&T figures include sales of both iPhones and other smartphones like Samsung, which has a larger worldwide share of the smartphone market than Apple. But iPhones generally cost more than phones by other makers — roughly $685 compared to the $340 average price of a Samsung phone — so analysts think a greater share of iPhone customers may finance theirs.

Source: kron4.com

The post Equifax victims may face another hassle in buying an iPhone appeared first on Mirror Bank FX.

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PERHAPS THE BIGGEST threat now facing Tesla isn’t its ability to scale up Model 3 production, or nail down autonomous driving software; it might actually be that the mainstream auto industry is finally entering the market Elon Musk’s upstart car company has long dominated. For five years, Tesla’s Model S has monopolized the luxury electric sedan market, but that dominance is now besieged. Porsche is spending more than a billion dollars to develop the the Mission E, a svelte speedster it plans to launch in 2020. Audi’s planning an onslaught of new EVs over the next three years, including the A9 e-tron, which will become the automaker’s new flagship.

Now, BMW joins the enemies at Elon’s gates. This week at the Frankfurt Motor Show, it revealed the i Vision Dynamics, a four-door electric car it says will offer a range of 373 miles and performance specs that rival Tesla’s (a top speed of 120 mph, and a 0-to-60 mile-per-hour sprint in four seconds). As the “Vision” bit of the name indicates, this is just a concept—for now. Compared to the fully bananas Vision Next 100 Concept it made to celebrate its 100th birthday, the i Vision is all about the near-term future, and will go into series production at some point in the next few years. Indeed, it looks more like a car you could buy than many concepts—it just needs real side view mirrors and maybe some regular door handles.
BATTERY POWER

BMW’s been making electric cars for a few years now: In 2013, it introduced the funky-looking, fun to drive i3, a $42,400 urban runabout. A year later came the plug-in hybrid i8, a $143,400 two-seat supercar made mostly to attract attention. But those niche models make up a tiny percent of the vehicles BMW sells every year. When the i Vision makes the leap from concept to production, it will mark the first time BMW applies electric propulsion not to the outskirts of its portfolio, but to the kind of car on which it has built its brand and most of its sales: sporty sedans.

“Electro-mobility has reached the heart of our brand,” BMW board member Klaus Frölich said on stage in Frankfurt. “Ladies and gentlemen, we are prepared to strike.”

We don’t know much about how an production version of the i Vision Dynamics will drive, but the i3 and i8 have shown BMW knows how to transfer its performance prowess to electric powertrains. The i3 can go nearly 200 miles between charges if you get one with the gasoline-powered range extender; the i8 can hit 155 mph.

And we know it will be just one weapon in that coming strike. By 2025, BMW will offer 12 fully electric models, CEO Harald Krueger promised in Frankfurt, including sedans, sports cars, and SUVs. It’s not the only automaker stocking up on power cords. Volvo, Jaguar Land Rover, Volkswagen, Mercedes, Audi and others have all promised an onslaught on electric cars in the next decade.
“Tesla was the only game in town for years,” says Karl Brauer, an auto industry analyst with Kelley Blue Book. “Now it won’t be so unique anymore.”

Now, these automakers aren’t building electrics to meet consumer demand, or even to take Elon Musk down a peg. They’re building them in response to increasingly harsh government demands. The leaders of the UK, France, Norway, and China have all said they intend to ban the sale of gas and diesel cars in the next 20 years or so. Even if those plans remain light on details and far from concrete, the regulatory trend bends strongly toward zero-emissions driving—and no major automaker can survive without a presence in those markets.

So If BMW is to hang around another century, it can’t restrict electricity to cars like the i3 and i8, which mean more to the marketing department than to the bottom line. It must electrify its mainstream offerings, the cars it sells in the tens of thousands every year. And so the i Vision Dynamics isn’t just a cool concept or one more performance-happy sedan. It’s the future.

Source: wired.com

The post Bmw at last unveils a tesla-fighting electric sedan appeared first on Mirror Bank FX.

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Boeing Co. has won a nearly $600-million contract from the U.S. Air Force to begin preliminary design efforts on the next generation of presidential aircraft. The contract, awarded Tuesday, directs the Chicago aerospace giant to create an initial design that will incorporate a mission control system, a medical facility, electrical power upgrades, a self-defense system and autonomous ground operations capabilities into two existing commercial 747-8 planes that will serve as the next Air Force One aircraft.

The new Air Force One planes will replace the VC-25A aircraft currently used as the presidential planes, which have been used since President George H.W. Bush’s administration in 1990.

Boeing said in a statement that the contract was a “great step forward on the next Air Force One.”

The $600-million award is just one portion of the Air Force One contracts. After the initial design is completed, the Air Force is expected to award another contract modification next summer that will involve more detailed design, actual modification of the aircraft, tests and delivery of the planes. The jets should be in use by 2024.

The company won a contract last month to sell the two commercial planes to the Air Force. A Boeing spokeswoman said at the time that the aircraft were sold to the Air Force “at a substantial discount from the company’s existing inventory.”

Trade publication Defense One has previously reported that the two Boeing jumbo jets were originally set for service with a now-defunct Russian airline. The planes were ordered in 2013 by Transaero, but the airline ceased operations two years later and never took ownership of the aircraft.

The jetliners are now parked along with other retired or surplus aircraft in a “boneyard” in the Mojave Desert, according to Defense One. Boeing has flight-tested the jets and had reportedly paid to store the planes in new condition while looking for a buyer.

Late last year, President Trump criticized the cost of the next generation of Air Force One, tweeting in December that the $4-billion price tag to build newly designed planes based on the 747-8 for presidential use was “out of control.”

lattime.com

The post Boeing wins nearly $600-million contract appeared first on Mirror Bank FX.

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Entities affiliated with Alibaba Group Holdings (BABA) founder Jack Ma and executive vice chairman Joe Tsai may sell up to 22.5 million shares of the company with the stock up more than 100% this year, according to a filing. At today’s price, that means the sale of up to $4 billion in shares. While significant, that’s less than 10% of each man’s holdings, and represents a small part of the company’s $443 billion market capitalization.

Alibaba shares were down 0.5% to $177.85 after hours Wednesday after rising 2% in regular trading. The sales would be part of a 10b5-1 planned sale program, for “wealth planning and to meet philanthropic commitments,” according to an Securities and Exchange Commission filing dated and provided Sept. 13 on Alibaba’s website. It reads:

“JC Properties Limited and JSP Investment Limited, entities affiliated with Jack Ma, founder and executive chairman of Alibaba Group Holding and The Jack Ma Philanthropic Foundation … adopted a pre-arranged share sales plan … for the sale of up to 16 million shares of the Company over a 12-month period commencing in October 2017. The 16 million shares of the Company represent approximately 9% of the holdings under Mr. Ma’s beneficial ownership.
PMH Holding Limited and Parufam Limited, entities affiliated with Joseph C. Tsai, executive vice chairman of the company, and Joe and Clara Tsai Foundation, the philanthropic foundation affiliated with Mr. Tsai, have adopted a pre-arranged share sales plan … for the sale of up to 5.5 million shares of the Company over a 12-month period commencing in October 2017. The 5.5 million shares of the Company represent approximately 8% of the holdings under Mr. Tsai’s beneficial ownership.”

Entities affiliated with Alibaba Group Holdings (BABA) founder Jack Ma and executive vice chairman Joe Tsai may sell up to 22.5 million shares of the company with the stock up more than 100% this year, according to a filing.

At today’s price, that means the sale of up to $4 billion in shares. While significant, that’s less than 10% of each man’s holdings, and represents a small part of the company’s $443 billion market capitalization.

Alibaba shares were down 0.5% to $177.85 after hours Wednesday after rising 2% in regular trading. The sales would be part of a 10b5-1 planned sale program, for “wealth planning and to meet philanthropic commitments,” according to an Securities and Exchange Commission filing dated and provided Sept. 13 on Alibaba’s website. It reads:

Source: barrons.com

The post Alibaba’s Ma, Tsai To Sell Up To 21.5 Million Shares appeared first on Mirror Bank FX.

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Seadrill (SDRL, +2.27%), the indebted oil rig firm controlled by Norwegian billionaire John Fredriksen, has agreed a restructuring that almost wipes out existing shareholders after filing for Chapter 11 bankruptcy protection.
A deal with a consortium of investors, as well as bank lenders and many of its bondholders, will bring in more than $1 billion in fresh funding and aims to allow the firm to maintain its fleet of drilling units and pay creditors and staff.

However, its shareholders will see their stakes heavily diluted. “Holders of Seadrill common stock will receive approximately 2% of the post-restructured equity,” Seadrill said in a statement published late on Tuesday.
More than 97% of its secured bank lenders, including DNB, Danske Bank and Nordea, supported the deal, as did approximately 40% of bondholders and a consortium of investors led by Fredriksen’s Hemen Holding.
The banks agreed to defer maturities of secured credit facilities, totaling $5.7 billion, by approximately five years with no amortization payments until 2020, Seadrill said.

The filing in a Texas court is the latest step in a years-long process to restructure what was once the world’s largest offshore driller by market capitalization and the crown jewel in the business empire of shipping tycoon Fredriksen.

“With our improved capital structure, we will be in a strong position to capitalize when the market recovers,” said Anton Dibowitz, CEO and President of Seadrill Management.

The agreement provides $1.06 billion of new capital, comprising $860 million of secured notes and $200 million of equity, and addresses Seadrill’s liabilities, including funded debt and other obligations, it said.
The company also aims to convert $2.3 billion of unsecured bonds and other unsecured claims into approximately 15% of the post-restructured equity.

Seadrill shares have fallen more than 99% from their 2013 peak as it was hit hard by oil companies curtailing demand for rigs when crude prices crashed. They traded 7% lower at 1.65 Norwegian crowns at 8:05 a.m. GMT on Wednesday.
Seadrill said it had over $1 billion in cash at the time of the court filing in the Southern District of Texas.
The company has a secondary U.S. listing and the Texan city of Houston is one of its five regional bases.Houlihan Lokey served as Seadrill’s financial advisor while Alvarez & Marsal served as its restructuring advisor.

Source: fortune.com

The post Seadrill Files for Chapter 11 Bankruptcy, Wiping Out Existing Shareholders appeared first on Mirror Bank FX.

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The Wisconsin State Senate passed a $3 billion incentive package for Foxconn in a 20-13 vote after hours of debate Tuesday. Under the bill, if the Taiwanese company invests $10 billion in Wisconsin and employs 13,000 people, it will get $2.85 billion in cash payments over the next 15 years. In a statement, State Sen. Lena Taylor, D-Milwaukee derided the bill as the largest state corporate welfare package to a foreign company in U.S. history.

State Sen. Robert Wirch, D-Kenosha, voted with the Republicans, and State Sen. Robert Cowles, R-Green Bay, voted against the package with the Democrats.

“Weeks of work were committed to reviewing this package, but questions still remained,” Cowles said in a statement. “While I support our state promoting economic development, the incentives that Foxconn was presented were too steep, both financially and statutorily.”

n light of the bill, Kenosha’s mayor John Antaramian said in a letter to Gov. Scott Walker the city will no longer be an option for the plant’s factory.

“Throughout this planning process, we have been consistent in our belief that without significant adjustments to specific current state laws impacting local municipalities, we would be unable to support and/or absorb the development of the Project,” Antaramian said in the letter.

State Sen. Jon Erpenbach, D-Middleton, argued Democrats were “shut out” from the beginning. Democrats introduced a number of amendments dealing with environmental and economic concerns, all of which did not pass.

“You can’t stand up and say there should be a strong bipartisan vote when every idea Democrats offered was shut down,” Erpenbach said. “You can’t expect us to say ‘good idea.’”

Democrats also raised concerns regarding the amount of money a foreign company is receiving from Wisconsin taxpayers when there are still unanswered questions and little public input.

State Sen. Chris Larson, D-Milwaukee, said his constituents, both Republican and Democrat, brought up how they need more information and more time to decide.

“Choosing a foreign corporation over our Main Street businesses is a dangerous and desperate gamble,” Larson said in a statement. “From listening to my neighbors, it is abundantly clear that this proposal is a bad deal for Wisconsin.”

But Republicans argued Foxconn is a “win” for America and will bring “cutting edge technology” to the state, State Sen. Van Wanggaard, R-Racine, said.

State Sen. Leah Vukmir, R-Brookfield, among other Republicans, called the decision “transformational” to describe the impacts of Foxconn on the state of Wisconsin.

“Today, we sent a message not just to Foxconn, but every other manufacturer of cutting-edge technology — Wisconsin should be your new home,” Wangaard said in a statement.

The bill now heads back to the state Assembly. If the bill passes the Assembly, it will go to Walker’s desk.

Source: badgerharald.com

The post State Senate approves $3 billion Foxconn incentive package appeared first on Mirror Bank FX.

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