Friday, December 6, 2019


Dear Village Board,

Cindy and I want to share this with you:

Corning Investor Day – Two New Gen 10.5 Glass Plants Announced


Corning held an Investor Day event in New York City on Friday, June
14th, and rolled out new strategic targets for the corporation, but
the most important development of the day for the display industry was
given by an executive who was not present. Corning’s John Zhang,
Senior Vice President and General Manager of Corning Display
Technologies, appeared in a video feed to announce that Corning will
build two new Gen 10.5 glass plants in the coming year, in Guangzhou
and Wuhan, China. While Corning did not discuss the clients for these
plants, we know that the Guangzhou plant will be supplying Foxconn’s
plant in that city, and the Wuhan plant will supply BOE’s second Gen
10.5 plant there.
Did you notice something in the article?

That Mount Pleasant WI isn't mentioned?

Wasn't Corning Glass going to be building one of those Gen 10.5 Gen
plants in Mount Pleasant WI?

How come it didn't happen?

Let's see what else the article states:

When Corning announced in December 2015 its investment to support
BOE’s first Gen 10.5 plant in Hefei, China, it revealed that 2/3rds of
the investment was funded by others, and in numerous references to
this subject in the last three years, CEO Wendell Weeks has quoted
this 2/3 figure are Corning’s requirement for new investment in
display. In announcing the new plants, Zhang took this a step
further, saying that “>3 out of 4 Investment Dollars” would be coming
“from our customers and other stakeholders”, so that the resulting
investments would “provide attractive returns for our shareholders”.

So all the Village Board needs to do - in order for the David DeGroot
"Field of Dreams" to become the promised Gen 10.5 LCD manufacturing
campus promised to taxpayers is to fund 2/3rds of the costs for
Corning to build a manufacturing facility in Mount Pleasant. Easy -
Peasy - just enough votes to fund a billion dollar plus manufacturing

With Ram Bhatia being the smartest person in the room - surely he can
figure the principal and interest payments on a $666,666,666 loan so
that Residents property tax bills can be properly adjusted.

IMAGINE! 13,000 jobs paying $53G each! It is up to you to make it happen.

Thank you for your time,

Tim & Cindy

No comments: