Trump Says Broadcom Is Moving Headquarters To US From Singapore (bloomberg.com) 122
An anonymous reader quotes a report from Bloomberg: President Donald Trump said semiconductor company Broadcom Ltd. is returning its headquarters to the U.S. from Singapore. Broadcom Chief Executive Officer Hock Tan joined Trump Thursday in the Oval Office for the announcement. Tan said the move to domicile the company in the U.S. would bring $20 billion in revenue into the country. The two men didn't specify the site of the new main location. Broadcom's website lists San Jose, California, as an existing corporate co-headquarters and has done so since the present company was created in 2016 in one of the semiconductor industry's largest acquisitions when Avago Technologies Ltd. acquired then-Broadcom Corp. The company's shares declined as much as 4 percent to $248.87 after the announcement. The stock had gained 47 percent this year through Wednesday's close.
"Trump said" (Score:1, Insightful)
Yeah, we should all know better by now.
Re:"Trump said" (Score:5, Insightful)
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You have to admit that he was right about the first part; I don't believe anyone has never seen an immediate Obamacare repeal and replace happen the way Trump did it...
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immediately
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yeah, he won (Score:3)
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Re: Cool. (Score:2)
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You have no idea how much it warms my heart to see that there are still slashdot users more passionate about character encoding than politics.
Well, there's a remote possibility that character encoding issues can be fixed. The same cannot be said about politics.
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Er, wait. Can anyone explain why, e.g., the cent sign or the thorn character don't work but these others do
Because they have entries in the ASCII table for whatever font this is?
¥ is 0xA5 as far as I can tell, for example.
Re:Cool. (Score:5, Insightful)
More American job opportunities for engineers is great news.
That is not what this is about. This is just a legal change. Maybe a folder will move from one filing cabinet to another. The company is already "co-headquartered" in both Singapore and San Jose. The CEO is not likely to move, and it is possible no one else will either. Technical jobs are the least likely to move.
All that is changing is that the company will be registered in America instead of Singapore. They will pay higher taxes, but have an easier time with acquisitions. The CEO apparently thought that was a good tradeoff. The shareholders apparently thought otherwise, thus the sell off. CEOs tend to like acquisitions because it makes their companies bigger and activates the primitive "hunter" instincts in their brains as they seek out "prey". But they are usually bad deals for the shareholders of the acquiring company.
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their shit is made in china
Most of their sales are also in China.
they won't pay higher taxes. are you kidding?
The shareholders think differently, or their stock would not have dropped. If they avoid taxes by leaving money offshore, it will be harder than ever for them to create jobs in America. It is easier for foreign corporations to invest in America than for American companies to invest in America.
the u.s. economy won't see that supposed $20 billion boost, either. this is just some more trump bullshit.
Totally agree. The net effect on the American economy will likely be zero or negative.
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I am proud to announce that I have created symlinks from my Singapore folder documents to my America folder. #MAGA
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Dont' think there will be any new jobs. Broadcom is essentially a US company anyway that was acquired last year, and the old headquarters was kept around. Jobs that are currently in the US will stay in the US, and jobs that are overseas will stay overseas. But sure, let's keep Donald happy, it's safer than when he's mad.
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Re: Cool. (Score:2)
Hock Tan? (Score:1)
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Or neuter the solid fact that he's a douche [youtube.com]
Trump & Billy Bush lewd conversation about women, Donald Trump On Tape: I Grab Women "By The Pussy”
I Am Betting... (Score:5, Interesting)
Good Bet (Score:4, Interesting)
That was my first thought - they go from being presented as a litigious off shore company to a domestic technology powerhouse that is worried about protecting it's IP.
All by moving an office; the actual engineers and IP isn't going anywhere.
Re:I Am Betting... (Score:5, Informative)
...That this has something to do with the ongoing legal battle between Apple & Broadcom. Something like, if Broadcom is a U.S. based company then they can get the ITC to block Apple importing any iPhones due to alleged patent infringement. Any takers?
I guess I lose the bet. It's Qualcomm not Broadcom that Apple is in a worldwide battle with at present.
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...That this has something to do with the ongoing legal battle between Apple & Broadcom...
I guess I lose the bet. It's Qualcomm not Broadcom that Apple is in a worldwide battle with at present.
Unless Broadcom buys Qualcomm [slashdot.org]. But I'm sure the timing of that is a coincidence.
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I am betting Trump is in need of a distraction [youtube.com], like maybe this latest fallout from the Mueller investigation: Sam Clovis, intended to take a science post at the Department of Agriculture (although he has no background in agriculture or science) is dropping out because of his ties to George Papadopoulos, the first person to plead guilty in the Russia probe. [arstechnica.com]
Earlier this year, Trump nominated him to a formal position within the department: the Undersecretary of Research, Education, and Economics. That position... is often referred to as Agriculture's chief scientist. The law that created the position indicates that the person nominated for it should be chosen “from among distinguished scientists with specialized training or significant experience in agricultural research, education, and economics."
That description is a poor fit for Clovis... Clovis admits he hasn't taken any courses or published any research in science or agriculture. Instead, he suggested he was qualified because some of the courses he taught included some material on agriculture, and he had run for statewide office in Iowa. "One cannot be a credible candidate in that state," Clovis contended, "without significant agricultural experience and knowledge.”
This is too funny. Don T. said he'd “hire the best people.” Well, as scientists go, Clovis is an excellent talk-show host. [washingtonpost.com]. He's out now,
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On one hand, every politician lies about all of this stuff, they all say they want to hire the best people. On the other hand, Trump was extremely vocal about how he was going to be different and he had a quite excitable voting base insisting that he would be different. So is it irony, hypocrisy, irrational exuberation, a learning experience for the voters, or...?
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Simply the new digital security maxim. It all must be done locally for government contracts because we are actually already in world war three, the corporate wars and US corporations vs EU corporations vs Russian Corporations VS China corporations. None can be trusted and they are now quite capable of digitally destroying each other, not only directly by via the governments the strive to control. So companies trading with the US government will have to be US companies because the threat of catastrophic hack
Building on delusions of market cap (Score:5, Insightful)
The funniest part was the bit about the stock prices. Not just the hilarious and unclear description of the price gyrations, but the insane underlying assumption that the stock prices have any linkage to reality. Today's stock prices are only linked to the fantasy of selling the shares at a higher price, with NO relation to the underlying realities of the property that is supposedly owned by the shares. Actually, most of the shares these years are for fake entities that are just holding companies for random bags of other companies, with a few real companies somewhere at the bottom. Some of the real companies may be producing real products or real services, but most of them are producing illusions like the value of Apple's latest and greatest and most profitable iPhone.
Remember there is no gawd but profit, and Apple is gawd's chief prophet.
That's according to Forbes for 2016. The rest of the top 10 include Gilead, Alphabet (AKA the google), Exxon, and some huge gamblers (AKA financial speculators playing games with other people's money and having socialized loss insurance since they're now "too big to fail" (assuming the federal government is still big enough to bail them out when they do fail again)).
Me? I think we should have tax policies designed to increase freedom. Make companies smaller so we can have smaller government. Make companies smaller so we have more choice and freedom. Make companies smaller so they have smaller profits! Oh, wait. I forgot profit is gawd.
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I so wish I had points. You're dead on!
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To play Devil's Advocate. Gilead Sciences, because they're at the size and scale they are, were able to completely cure Hepatitis-B....
That likely wouldn't happen with "small companies with small profits".
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Is the devil really so naive? I suggest that you read about how private pharmaceutical companies set their research priorities. They do NOT want to spend money developing medicines that actually cure diseases, though it sometimes happens. Most of the researchers are less concerned about profit. To maximize Gilead's profits they would actually prefer to develop medicines that address symptoms without curing the underlying diseases. Also, they use the patents almost exclusively to maximize profits, not to acc
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Broadcom, huh (Score:2)
Anyone here ever work there? I hear it's kind of a rough place to work.
"I could stand on fifth avenue and shoot someone" (Score:1, Informative)
"I could stand in the middle of fifth avenue and shoot someone, and people would still vote for me."
This is what your God Trump thinks of you, fuckers. Basically, he told you to your face that you're all fucking morons, and you proved him right.
Maybe next time you won't choose a fucking psychopath as your presidential candidate. But I doubt it.
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Actually, most of us voted for the OTHER woman in the race. It was only the quirk of the Electoral Collage that gave us this knob.
The embarrassing part is that a significant portion of the U.S. still think he's a good idea. When I saw the reports on the White Lives Matter demonstration in Tenn., I thought I would puke me guts out. Glorifying Nazis, as they did, was a kick in the gut to those who lost family members in WWII in Europe. That told the rest of America that they had thrown the American ideals out
New headquarter in Irvine, CA? (Score:2)
They’ve been building that location off the 405 for about 4 years.
I have an idea (Score:2)
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That's Qualcomm you are thinking about.
And there you have it... (Score:2)
> semiconductor company Broadcom Ltd. is returning its headquarters to the U.S. from Singapore
[snip]
>The company's shares declined as much as 4 percent to $248.87 after the announcement.
MAGA!
Just like their devices (Score:2)
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Broadcom is a Singapore company that is trying to acquire (not merge with) *Brocade*.
To be extra confusing, The "new" Broadcom was a Singapore company named Avago, that bought a US based company named Broadcom and after they did that, they renamed themselves Broadcom (although their stock trading symbol is still AVGO). The "new" Broadcom (was Avago), is now trying to buy Brocade (another US based company).
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By aka AC.