Tag Archives: Ti

Black Horse & What Economic Recovery? Texas Instruments shutting down decades old factories, thousands to lose jobs, despite $298 million profit at the end of 2011!

…there before me was a black horse! Its rider was holding a pair of scales in his hand. Then I heard what sounded like a voice among the four living creatures, saying, “A quart of wheat for a day’s wages, and three quarts of barley for a day’s wages, and do not damage the oil and the wine!”

Long time electronics manufacturer, Texas Instruments, will close two factories, one in Japan, the other in Texas.

Both factories are more than 30 years old, and Ti says it will be too costly to upgrade them, so instead they’ll shut ’em down and lay off thousands of employees in Japan and the U.S.

Ti also blames a drop in sales, and a 68% drop in profits. However, even with that 68% drop in profits, Ti still reported a $298 million profit from October to December 2011!