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I see the logic, but I still think the bad PR would negate the cost-savings and potentially destroy the brand. The story has gotten way too much publicity to quietly move production out of the country, and with the anti-business bias in the media (IMO), you'd be fighting an uphill battle. Just my opinion though!
I agree with your strategy. Pick up some cheap real estate in small town USA. Negotiate a huge tax break and even some funding to retool the factory, which the small town will do to get the jobs. Higher cheap labor and add as much automation as you can to bring costs down. Then PR the crap out of it. New marketing slogan eat twinkies to save America or something like that.
You might even be able to PR some money out of the fed like solindra. If you get enough PR around how you need to win XXX government funding to save this iconic american brand you might get a check from yours truely.
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