But Not For At Least 2 Years, Hiring in 2012 and 2013
Good Morning, Bonjour, Guten Tag,
Folks, typical of DuPont's bombastic bosses with an eye to the far-off future, Pioneer Management is out this morning bragging about jacking up their payroll in Johnston, Iowa by 400 jobs. BUT, they won't be hiring until 2012 and 2013. DuPont Pioneer will be cranking up a $154 million "facility", which includes the construction of a new 200,000 sq. ft. building at a cost of $39 million.
Pioneer Management vaguely brags they will be spending $115 million on R & D in the facility. However, they neglect to tell the media whether that's over a period of one year? five years? ten years?
Some of the 400 are likely to be highly educated researchers. Regardless, Pioneer is probably coming too late to the party. By 2013, innovation leader Monsanto, not to mention highly-focussed Syngenta, will have enlarged their leads in innovation over the ponderous Pioneer bureaucracy superintended by the agriculturally ignorant DuPont über bosses in Fortress Wilmington in the dwarf state of Delaware.
REFERENCE: "Pioneer Proposes Adding 400...," DES MOINES REGISTER, 03-16-10.
Merely the morning observations of one independently-speaking investor and long-time student of the devolving DuPont...funfun..
In fact, Dow Chemical also leads DD/Pioneer in biotech.To its disgrace,DD/Pioneer has yet to introduce any traits of its own R&D.One could also argue that BASF and Bayer rank ahead of DD in biotech traits. How many of the good Pioneer management pre-takeover remain?The good folks are gone with many replaced by know nothing Wilmington drones.Pioneer resumes are numerous and an industry joke. And at the top of the ladder is Cull-Men who knows less about biotech than the folks cleaning the toilets at Pioneer
1. Pioneer mentions that it "PROPOSES adding" up to 400 jobs. Yes...we remember when Chad PROPOSED that earnings growth would soar by 10% per year (it never happened, in fact earnings went DOWN after Chad's bravado).
2. Monsanto and Syngenta already have the technology and are much faster with capacity builds. The reason people don't see Monsanto announcements about capacity are that they ALREADY did it!
We have long advised Chad and now Ellen that only right course is to SPIN-OFF Pioneer before it is too late and has fallen further behind in the seeds wars.
Keep up the brilliant writing. Investors know to read both sides of any story; you provide an insightful and intelligent rebuttal to the empty words coming out of Fortress Wilmington and its garrison in Iowa.
at least DD is spending capital money in USA. Capital money eventually translates into jobs. Even if it is a 2-3 year project it is better that DD is starting to spend money in USA instead of China. It has only been a couple years that nearly 100% of capital money that was not legally required went off shore with most to China.