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|| How Foxconn back-stabbed and robbed taxpayers. || Any ideas how smart contracts may help in these situations?

|| How Foxconn back-stabbed and robbed taxpayers. || Any ideas how smart contracts may help in these situations?

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by COINS NEWS 57 Views

It's worth the read. Here's an excerpt from the article:

Behind Foxconn’s empty buildings, empty factories, and empty promises in Wisconsin. How taxpayers were downright back-stabbed, beaten, and robbed out of multiple 100s of Millions of dollars.

Hopes were high among the employees who joined Foxconn’s Wisconsin project in the summer of 2018. In June, President Donald Trump had broken ground on an LCD factory he called “the eighth wonder of the world.” The scale of the promise was indeed enormous: a $10 billion investment from the Taiwanese electronics giant, a 20 million-square-foot manufacturing complex, and, most importantly, 13,000 jobs. ...

The renovations never arrived. Neither did the factory, the tech campus, nor the thousands of jobs. Interviews with 19 employees and dozens of others involved with the project, as well as thousands of pages of public documents, reveal a project that has defaulted on almost every promise. The building Foxconn calls an LCD factory — about 1/20th the size of the original plan — is little more than an empty shell. In September, Foxconn received a permit to change its intended use from manufacturing to storage. ...

Foxconn did not return repeated requests for comment.

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