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thanks for visiting cnnmoney. company that trump bashed isn't backing down - carrier air conditioner parts

by:HICOOL     2021-10-11
thanks for visiting cnnmoney.     company that trump bashed isn\'t backing down  -  carrier air conditioner parts
The move has reduced Eaton's corporate tax because the corporate tax rate in Ireland is much lower than in the United States. S.
But during the campaign, the company was also a target for Trump.
"You know, our company is leaving our country quickly, whether it's Carrier air conditioning, Ford or Eaton.
I'm at Cleveland and Eaton.
"They're leaving, and a lot of companies are leaving," Trump said in a Super Tuesday Speech on last March . ".
"Frankly I am disgusted with it, I am tired of seeing it and there is no reason to see it.
This is just a serious incompetence at the highest level.
"We should not allow this to happen," he added . ".
Eaton had settled in Cleveland before acquiring the Irish Cooper industry company in 2012.
The company is also the target of Trump's rival, Hillary Clinton.
She called on Eaton to close a factory in Belea, Ohio, causing the loss of more than 100 jobs.
Clinton also criticized Sandy Cutler, the company's former CEO, for paying $11 million.
President Obama does not like to let the US government. S.
The transfer of companies to overseas is called a "reverse push ".
Obama described the behavior as "unpatriotic" and described it as "sinister ".
Related: These are the most serious tax havens in the world, but Eaton (ETN)
The company just released its latest quarterly results on Thursday, but is not afraid of these political attacks.
CEO Craig Arnold defended the company's decision to expand globally in an interview with CNNMoney. The U. S.
Arnold said he had only "5% of the world's population," and he took over in last June after Mr. Cutler retired.
"If you take a long time
In the long run, there are better growth opportunities outside the United States. S. --
Although what may happen in the short term
Arnold said.
Even Trump and Republicans, Arnold added
The leading Congress eventually changed the law that allowed US taxes. S.
If the company brings overseas cash back to the US, they will pay a lower interest rate and he has no plans to move Eaton's headquarters back to Ohio.
"The future of America. S.
"Tax policy is a big uncertainty," he said . " He added that, based on the current proposal he saw, "there is no reason to re-
Bring the company down.
In addition, we pay taxes to all American citizens. S.
Income, "he said.
Arnold says he hasn't had any discussion with the president or anyone in the Trump administration since the election, but he is willing to have a dialogue ---
Like many other businesses.
Eaton still has great influence in the United States. S.
The company sells electrical equipment, construction equipment, hydraulic systems and parts for trucking.
Eaton may not be a household name in itself, but it is not lazy.
The company reported annual sales of nearly $20 billion, worth more than $30 billion.
The company also said it was proud of its record at work, noting that it had about 74,000 employees before the Cooper agreement ended in 2012 and now has about 95,000 employees
But Eaton did not break down the work.
Over the past few years, the company has shut down several factories in Iowa, Wisconsin and Ohio, just like the Belea plant quoted by Clinton.
In some cases, jobs are outsourced to Mexico.
Related report: in the Trump era, 20% of large companies pay zero corporate tax, which may cause problems for Eaton, especially when Eaton and its competitors try to win the various parts of any infrastructure contract that the government bids ---
Let's say the stimulus plan is passed in Congress.
Unless the Trump administration promises to hire more American workers, will the Trump administration delay a federal contract to Eaton? -
It even moved its headquarters back to the United States. S. ?
Arnold said he was confident there would be some form of stimulus. -
His company will benefit.
But he also said he was a little worried about investors. -
Even the company. -
Too optimistic about how much Trump can really boost the economy.
"We spent a lot of time working on stimulus.
But before this passionate reality comes into our order book, it's hard to predict how much it will affect us before our customers buy more, "Arnold said.
"The industry was too optimistic in the past.
"We are not great forecasters," added Arnold . ".
"We call it when we see it.
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