Carrier’s parent spends billions on its shareholders
President-elect Donald Trump says he has a deal with Carrier Corporation to keep about 1,000 Indiana jobs from going to Mexico. The heating and air conditioning firm’s parent company, United Technologies, wants to raise profits by using cheaper labor in Mexico.
At the same time, United Technologies has been doing what many corporations do these days: investing billions of dollars in cash to buy back its own shares… money that critics say could be invested in things like its workforce.
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