Fortune 100 and 500 corporate heads are sucking up to the near-president Donald Trump, So, if the Donald wants them to lie a little, sure, why not? Of course, Trump has to lie about his own super skill of grabbing jobs heading south and bending them back toward the U.S.
Trump ran on jobs, jobs, jobs. So he has to deliver on thousands of them. What better way of accomplishing this than getting together with Sprint in a lie or two? The mega-telecommunications company gleefully danced with the orange man in a jobs fiction.
According to Bloomberg, the president-elect said that Sprint’s top honcho bent to Trump’s will and added 5000 jobs, a mere drop in the flood of its employees:
‘Because of what’s happening and the spirit and the hope.’
But just like Carrier, Sprint already planned on keeping those jobs state-side. Japan’s SoftBank bought Sprint. In December its chief executive went to Trump Tower and said it would invest $50 billion in the U.S. plus create 50,000 new jobs here.
But guess what? A chunk of that $50 billion was already bundled in with a $100 billion technology investment that SoftBank announced last October, well before the presidential election.
The almost-president gave himself a big pat on the back for the highest Consume Confidence Index in December. Yes, the index was higher than it had been 15 years, but Trump seems to forget that he did not have anything to do with it.
The U.S. Consumer Confidence Index for December surged nearly four points to 113.7, THE HIGHEST LEVEL IN MORE THAN 15 YEARS! Thanks Donald!
— Donald J. Trump (@realDonaldTrump) December 28, 2016
So what do these corporations have to gain with these co-lies? SoftBank’s CEO Masayoshi Son is hankering for the Department of Justice’s anti-trust division and the FCC to let Sprint and T-Mobile merge. President Barack Obama wisely rejected this transaction, because that would leave the country with not four but three wireless companies.
The damage the transaction would cause is extensive. When companies merge, they typically skim out the duplicate jobs, and as The New York Times says:
‘He [Trump] will do lasting damage to the economy that far outweighs any benefit from 5,000 jobs, jobs that might have been created even without the merger. Individuals and businesses will find wireless service costs a lot more when they have only Verizon, AT&T and T-Mobile/Sprint to choose from.’
After AT&T acquired BellSouth in 2006, its executives said they probably would cut 10,000 jobs. Then AT&T picked up DirecTV. In 2007, AT&T employed 309,000 people worldwide. In September of 2016, it employed 273,000.
The New York Times sums up the Trump lie beautifully:
‘It has become abundantly clear that Mr. Trump is easily distracted by shiny objects, especially if they reflect back on him. He’s more interested in boasting about how he personally saved a thousand jobs at Carrier, say, than in policy details that could make a difference in the lives of tens of millions of workers.
‘Never mind that Carrier is only keeping about 800 jobs and that its chief executive said that the company would get rid of some of those anyway through automation. This should greatly worry Americans, especially people who are counting on Mr. Trump to revive the economy and help the middle class.’
Featured Image: Getty Images/Spencer Platt.
H/T: New York Times.