In foreign export alone you put out over 40 billion a year.
You make even more through the stock market, and you have refined
the production process to reduce costs, such as relying heavily
on subcontracting, and making jobs temporary instead of permanent.
There is now barely any trace of the pastoral lands which once defined
the area.
Santa Clara County has the highest density of Federal Superfund
toxic contamination sites of any in the US. 29 in all!
You are so huge that there is now a new stock market created
just for you called NASDAQ.
The semiconductor industry alone is estimated at 851
billion and is projected to be 1380 billion in 5 years, a growth
rate of 45%.
Bill Gates (Microsoft) has a net worth of $85 billion, Gordon
Moore (Intel) has $15 billion.
It has ballooned you into astronomical profit levels,
but has also made you susceptible to the global financial atmosphere.
1 out of every 9 of your residents in the Valley
is a millionaire!
Your area has the highest median income in the country,
close to $70,000 annually, and spends the most money out of any
metroplis area in the country on luxury goods, like TVs, computers,
furniture, etc...
Jobs are still fleeing to other parts of the world with lower wages.
In 1997 alone over 6,000 were cut in the industry, most from Silicon
Valley.
Most jobs are now temporary and offer sublivable wages ($6.00-8.00)
an hour with no benefits in one of the costliest places to live
in the country.
Estimates for the minimum livable wage is at least $11.00 plus
benefits, estimated for a family with one infant and one child and
both parents working in 1996.
Unions are a distant memory; there has not been a union drive in
the entire decade.
We know the chemical effects of less then 2% of the chemicals used
in production work.
A UC Davis survey of 15,000 women in the industry found a 14% miscarriage
rate in the industry, as well unusually low fertility rates.
Some of you, usually the newer immigrants are even doing piece-rate
work at your home to supplement your low income.
You are one of the most powerful industries in modern times, and growing.
You are known for your advancement of mankind, and are seen as
the vehicle into the next millennium.
You are accountable to no one. You can play cities and countries
against one another as they beg for your business to locate there.
Even though one of your plants costs almost 3 billion dollars to
make!
Much of the US trade policy is directed to accommodating your areas
needs.
You are by far the biggest exporter in the country, and international
trade policies are designed with you primarily in mind, such as
NAFTA and the WTO.
People all over the world are moving to work for you in Silicon
Valley.
Taxes for corporations like yours have been cut by more than half-
25% to 11%.
Santa Clara County is now has the highest cost of living in the country.
For 75% of you, your hourly wages are actually lower then they
were in the 80s!
You now have a 1 to 440 ratio with your employers income.
Average rent for a one bedroom is $1,100 a month, and has risen by 28%
in the last four years.
You have to pack to small apartments with other relatives just
to make rent.
Welfare is being cut as well as affirmative action programs.
Almost half of those under poverty level are working full time!