Seagate To Cut 3,000 Jobs, Faces Charge of Violating Sanctions (bloomberg.com) 34
Seagate, the biggest maker of computer hard drives, said it's eliminating about 3,000 jobs and that big buyers of technology are cutting orders on concerns the economy is worsening. From a report: "Global economic uncertainties and broad-based customer inventory corrections worsened in the latter stages of the September quarter, and these dynamics are reflected in both near-term industry demand and Seagate's financial performance," Chief Executive Officer Dave Mosley said in a statement. "We have taken quick and decisive actions to respond to current market conditions and enhance long-term profitability, including adjusting our production output and annual capital expenditure plans."
Separately, Seagate said it has been accused by the US Commerce Department of violating US export rules by selling hard drives to a sanctioned entity. Reuters reported that the entity was Huawei. The company denied it violated the rules. The US company's push back may prove a test of tightening restrictions against the provision of technology to China by the Biden administration, which has cited national security concerns in actions it's taken against companies such as Huawei. Most of the actions to date have focused on semiconductor technology.
Separately, Seagate said it has been accused by the US Commerce Department of violating US export rules by selling hard drives to a sanctioned entity. Reuters reported that the entity was Huawei. The company denied it violated the rules. The US company's push back may prove a test of tightening restrictions against the provision of technology to China by the Biden administration, which has cited national security concerns in actions it's taken against companies such as Huawei. Most of the actions to date have focused on semiconductor technology.
gutting the economy and marching towards war (Score:2, Insightful)
Free and open trade promotes peace. Sanctions disrupt trade and eliminate a source of mutual dependency that encourages peaceful resolution of disputes. Democrats act like they want to negotiate and seek peace, but they keep making choices that historically lead to conflict.
Idealogy, nationalism, and religion are impossible forces to argue rationally with. Money is the one true god that we can quantify and discuss rationally. If people have enough, they are happy, if they have too little they are starving.
Re:gutting the economy and marching towards war (Score:4, Insightful)
And a little bit of nationalism can be a good thing. We really do need to stop being so dependent on China or electronics and semiconductors. The hard part is keeping bigotry at Bay. You can do that with education, critical thinking skills and the like.
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Having two out of the three largest militaries in the world dependent on each other for technology, agriculture, and trade is a very good thing. A self-reliant economy is like a hair trigger for war that can be set off by bellicose domestic politics and jingoist international behavior. The US, China, and Russia ought to spend more time selling culture, rice, pork, and gadgets to each other and less time claiming territory and threatening to sink carriers or nuke neighbors. Frankly the rest of the world is s
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When the USSR fell apart the West had this idea that integrating ruzzia economically into the West will change ruzzian attitudes and will promote trade and will discourage wars.
This was a huge mistake. Same thing can be said about China. The people in power in China and in ruzzia are not interested in peace, their ideology is to use their position to promote the agenda of imperialism and war.
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What the fuck does running out of baby formula have to do with sanctioning China?
Biden's FDA shut down our largest producer of baby formula on very weak (possibly false) pretenses of there being a "safety issue" at the factory. It was never proven that the factory was producing tainted formula, and the lack of formula entirely seems to me far more dangerous.
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We ran out of baby formula due to an over-consolidation of baby formula production in the United States. China is a net importer of baby formula, due in no small part to domestic fears that their own baby formula is unsafe to use. Chinese have been "stealing" formula from Australia for years:
https://tfipost.com/2020/05/da... [tfipost.com]
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> Democrats support free trade to a fault. It was Donald Trump
Wow, you really don't know about all of Biden's new sanctions on China?
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And a little bit of nationalism can be a good thing. We really do need to stop being so dependent on China
it helps make your comment seem less stupid
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Re:gutting the economy and marching towards war (Score:4, Insightful)
Wow, you really don't know about all of Biden's new sanctions on China?
What I love is how they can have the house, senate, and the whitehouse and still manage to fuck everything up, and continue to blame it all on Trump.
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LOL Democrats were the tariff party until Trump dragged the Republicans kicking and screaming into protectionism.
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Is there a real-time site where we can lookup the current party stance. I honestly couldn't tell you right now where Democrats stand on the southern border.
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They stand as far from the US/Mexico border as possible.
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> Democrats support free trade to a fault.
> And a little bit of nationalism can be a good thing.
> The hard part is keeping bigotry at Bay.
> We really do need to stop being so dependent on China or electronics and semiconductors.
> www.fark.com/politics
That's quite the roller coaster ride, but it was the ending that made me nauseous.
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I would say it is more an American Value thing, than just a partisan politics issue. The previous Republican administration was also a big fan sanctions and reducing free trade. Those who oppose it, are often the people who are not in power to manage it.
Overall Free Trade is a good thing, and it helps promote peace, as every country becomes more interdependent on each other, and needs each other to succeed for their success. However, especially with the Americans "self determination" ideology being int
Re:gutting the economy and marching towards war (Score:5, Insightful)
Trade with a terrorist state promotes terrorism. Russia is waging a war of elimination against Ukraine and uses dependencies on Russian energy to choke other countries into submission. If you do not use Russia's dependencies against them in that situation, you make yourself an accomplice of their war crimes. All trade with Russia must end.
Re:gutting the economy and marching towards war (Score:4, Insightful)
Except that this did not work with Putin. The west had Putin invited into their special groups, involving Russia with trade, creating a complex inter-dependency, and still Putin went off the deep end and started channeling Hitler. So while trade promotes peace, it is not 100% effective.
Also, it is important to know what your values are. Are we willing to sacrifice our morals just to have peace? We'll trade with China and then look the other way at human rights abuses?
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Also, it is important to know what your values are. Are we willing to sacrifice our morals just to have peace? We'll trade with China and then look the other way at human rights abuses?
One can legitimately make the same argument about the US, and other countries. That doesn't excuse what happens in China, but it does mean that if you are going to make it a blanket decision you're going to have a much harder time. I'm not trying to say where the line should be drawn for anyone, but it isn't cut and dry.
It's been 50 years (Score:4, Interesting)
It has failed.
Since China has no interest in moving to a society more compatible with "Western ideals" it's time to cut them off from the benefits. This isn't a left/right thing, it's a human rights thing. While the left/right may differ on what rights people have they agree that people have them which is something that the Chinese government disagrees with.
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Money is the one true god that we can quantify and discuss rationally. If people have enough, they are happy, if they have too little they are starving. And if you have too much you are greedy and probably ought to be taxed. Easy to discuss and to compromise on.
The Disease of Greed has plagued our species for thousands of years. We will most likely die right here on this rock endlessly warmongering over Yours and Mine, forever addicted to it. The inexplicable shit we drag out of the sands of time tend to suggest we were just as ignorant before to damn near extinct ourselves, and haven't learned a fucking thing since.
You're right. Money certainly IS the One True God, and yet you've already clarified the harm caused by religion. The risk doesn't change based on w
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Free and open trade promotes peace. Sanctions disrupt trade and eliminate a source of mutual dependency that encourages peaceful resolution of disputes.
Show me a man who speaks in absolutist terms, and I'll show you a man who has a tenuous grip on history or even reality.
Free and open trade exacerbates the current social and political climate within an economy. Free trade can dramatically expand the opportunity and wealth of nations that embrace freedom of movement, speech, and choice for their citizens. Free trade can and will embolden authoritarian regimes who put their own political survival above the needs of their people. Free trade does not wo
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We haven't had "free and open" trade with China for years. China is only interested in whatever develops large trade surpluses for them. They're also interested in expanding their power with the long-term goal of replacing whatever trade does exist with control mechanisms. They need access to foreign resources and farm land (or farm output). Don't delude yourself into thinking that trade constraints now are somehow inappropriate. We were told decades ago by people like Bush Sr. about how trade with Chi
Employees are bargining chips, not profit source (Score:2)
During the past decade or so, when Unemployment had been low, larger companies did a lot of effort into hiring as many folks as they can even if they didn't need them for their business.
The reason wasn't for growing their business as part of a strategic moves, but to try to inconvenience their competitors by sucking up the talent. With the general hope they will be useful for the company, and perhaps be a resource as the company tries something new.
Also having a large workforce, gives your company political
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Hired for that particular company, yes.
There are countless other companies that hadn't made it, who gone out of business during these Good economy times, because they couldn't find talented workers.
Showing my age, but when graduating from college, getting a job at AOL, Microsoft, Sun Microsystems, or CRAY was a one of those status jobs. While I went to a small consulting company, I also got 10k more per year over the big names. Shortly for me I realized having a big name employer on your resume doesn't hel
Seagate Sucks (Score:2)
companies so worried about recession they cause it (Score:2)
Seagate went down the tubes (Score:2)
As a consumer and as an employee, I used to buy exclusively Seagate drives. But, then reliability went down down down. Then, they decided that on external drives, I don't need a drive activity light, making troubleshooting much harder. Then they decided that external drives in a hard shell do not need vent holes, just cosmetic things that look like vents but aren't. That was the end of Seagate for me. Their only value at the moment is to keep competition alive and keep the price down.