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A Chinese Billionaire is Staking His Legacy.... Glassbytes article 10/27/16

A little about the very saintly Mr. Cho Tak Wong and his legacy:

Cho reminds me of old Joe Kennedy. You start with a gangster/bootlegger in the case of Joe, and add a President Roosevelt whose campaigns he bankrolled and shazam, old Joe was made an ambassador and became patriarch of a clan sycophantly dubbed afterwards as "American royalty".

In the case of Cho, you start with a Chinese Communist official/robber of intellectual property and cutthroat operator and then add a U.S. governor, a couple of senators, and throw in some medium paying jobs and you have a saint.

In 1999, my company sent me to China as part of a fact-finding delegation. At the time, we were interested in learning if the bombardment of Chinese windshields into the U.S. aftermarket might begin to abate as domestic Chinese demand increased and absorbed more and more of the Chinese production, or if it appeared that plans were underway in China for major capacity increases to accommodate their own growing demand for OE glass and domestic replacement glass as well as the skyrocketing increases in U.S. aftermarket orders.

Our first stop in China was to a Ford glass plant where the American plant manager introduced us to his “senior associate” who was in a Chinese Communist military officer’s uniform. As is the case of all American/Chinese joint ventures within China, the “senior associate” is the final arbiter of strategic decisions. That Ford plant has since closed. By the way, to most Americans it might seem like a distinction without a difference, but in China, the real bosses are not in the “elected” government, they are in the military.

But my most memorable experience in China was a tour of the Fuyao windshield factory hosted by Cho Tak Wong– “Mr. Cho”— the CEO of the Fuyao Glass Group. I still have his business card which interestingly touts his Communist Party leadership credential above his corporate title.

The plant was immaculate and highly automated. And it was populated by scores of workers who walked around doing absolutely nothing but were nevertheless there because Mr. Cho was obliged to have a certain required quota of workers on his payroll.

The highlight of the tour came when Cho showed us a patented multi-million dollar piece of equipment he purchased in the U.S. on which he additionally had to pay annual royalties. Then, with a callous bravado that astonished us, he laughingly pointed to five duplicates of the machine which they reverse engineered and copied!!!

But foreign glass investment in the U.S. is wonderful. Profits from Pilkington go to Japan. Profits from Safelite go to Belgium after passing through the UK. And Mr. Cho’s U.S. profits build his piggybank in China.

Re: A Chinese Billionaire is Staking His Legacy.... Glassbytes article 10/27/16

Wow.

Re: A Chinese Billionaire is Staking His Legacy.... Glassbytes article 10/27/16

Not like the usual kvetching about NAGS and crap. Maybe you can learn something here.

Re: A Chinese Billionaire is Staking His Legacy.... Glassbytes article 10/27/16

I'm no Fuyao supporter, but Cho is doing things in the midwest the American companies failed at.

Re: A Chinese Billionaire is Staking His Legacy.... Glassbytes article 10/27/16

I'm no Fuyao supporter
I'm no Fuyao supporter, but Cho is doing things in the midwest the American companies failed at.


Hey I'm no Fuyao supporter---- if you like Cho so much write him in instead of voting for Hillary--- he just as corrupt and at least admits he's a communist.

Re: A Chinese Billionaire is Staking His Legacy.... Glassbytes article 10/27/16

is this the same Cho from The Hangover?

Re: A Chinese Billionaire is Staking His Legacy.... Glassbytes article 10/27/16

But even the company’s most generous offer is unlikely to match the pay U.S. manufacturing workers once enjoyed. Cynthia Harper said she made $30 an hour at the plant when it was owned by GM — more than double what she earns now as a production line worker at Fuyao.
To fuel the next wave of growth, Fuyao and other Chinese companies have to look beyond their country’s borders. Direct investment in foreign countries skyrocketed from $13.7 billion in 2005 to $187.8 billion a decade later — an increase of 1,294 percent, according to the Organization for Economic Cooperation and Development. Consulting firm Rhodium Group estimates that the United States alone received a record $18 billion during the first half of this year.
In the United States, lawmakers and regulators have examined several high-profile deals by Chinese investors as potential threats to national security. Regulators held up plans by Chinese insurance firm Anbang to purchase New York’s famed Waldorf Astoria hotel, which often accommodates the president and other dignitaries. They scuttled a bid by a Chinese venture capitalist for a U.S. lighting company owned by Netherlands-based Philips. And lawmakers have called for reviews of a Chinese offer to buy the Chicago Stock Exchange.

Fuyao has not had to confront those concerns, but it has tangled with U.S. regulators in the past over anti-dumping charges that were eventually reversed
Cho has a message for the United States, too: The recession exposed the nation’s fault lines: economic inequality, political gridlock and a widening chasm between the complex financial engineering on Wall Street and industrial production in places like Moraine. The United States will not truly recover, Cho said, until the country is once again making things that are in demand around the world.

“To seek long-term prosperity, the U.S. needs to forge its dream of becoming a power of manufacturing,” he wrote in his autobiography.
Even if it’s China that owns the factory.

Auto Glass Week™ 2016 Welcomes Fuyao Glass America Back as a Gold Sponsor

Re: A Chinese Billionaire is Staking His Legacy.... Glassbytes article 10/27/16

I'll bet Cho doesn't pay too many people to stand around doing nothing in the Fuyao plant here like the old timer says he does in China.

Re: A Chinese Billionaire is Staking His Legacy.... Glassbytes article 10/27/16

so all the rednecks who bit@#$@ about that cheap Chinese glass LMFAO and now they are making it hear. truth is they made great products now we will see how great American quality is.

when everyone else moves manufacturing to china... china comes here

Good God we are a f up country

now we all know why S L stopped making glass here.....
with this plant they don't have to anymore.

Re: A Chinese Billionaire is Staking His Legacy.... Glassbytes article 10/27/16

Thanks so much for posting this again. Been a few years as I recall. Mandela Effect is alive and well.

For those that can, pull the OP over to the facebook group.

Re: A Chinese Billionaire is Staking His Legacy.... Glassbytes article 10/27/16

You are a such idiot! Learn more before making a such statement ! Had you ever graduated from elementary school?

Re: A Chinese Billionaire is Staking His Legacy.... Glassbytes article 10/27/16

What are BL and Stanley babbling about?

Re: A Chinese Billionaire is Staking His Legacy.... Glassbytes article 10/27/16

Does Cho at Fuyao set his OE and aftermarket selling prices in the U.S. as a discount off NAGS "benchmark" pricing??? Surely he MUST!!! SURELY!!!!!!!! Those prices are so brilliantly freaking crafted by the wizened wizards at NAGS that they undoubtedly are accepted by people worldwide who weren't even baptized into this dumb-ass industry here in the U.S. Surely!!
Old Cho kow-tows to NAGS just as you should!!!!!!!!!!!!!! Surely!!!!!!!

Re: A Chinese Billionaire is Staking His Legacy.... Glassbytes article 10/27/16

Mitchell must be proud! This is a great tribute to their brilliant calculating wizardry:

BULLETIN
The various car manufacturers around the world have just advised all their current and potential glass suppliers to henceforth quote the prices of all glass parts they wish to provide OE to their assembly plants as a percentage off NAGS benchmark.

[Believe this nonsense and also believe my mother Hillary won the presidency. But go NAGS adherents!!! Go!! Go!!! Follow and trust in your lord and master NAGS!!!! They REALLY know.]

Re: A Chinese Billionaire is Staking His Legacy.... Glassbytes article 10/27/16

luv it!

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