Natcore Technology Inc (NTCXF)

[rkt9]

I can tell you first hand they are NOT happy to be dormed. My wife was one of the first Chinese to move to the new economic zone of Shenzhen. She lived in one of those dorms at first, and it was such a terrible experience it is hard to get her to talk about. But because she had an engineering degree, and a limited knowledge of English she rose above the factory sweatshop and advanced to management.

She and her best friend would go out every day after work, and roam the city, for two reasons, one was to get the hell out of the stinky dorm, and the other was knock on every door of every condo, and ask if they had a room to rent. This process took months, before they found a single room they could rent.

Later as she progressed she was able to buy a Condo, but only because she was fortunate to be educated, and be in the right place at the right time,and very frugal saving most of her salary.

Chinese factory management workers are typically paid partially in check, and partially in cash. Why? So the company can get out of paying the full SS tax.

It is true, you would have to provide sleeping quarters to get the better workers, or depending on the location, to get any workers at all. Not only that you would have to provide meals as well, it is common practice for all Chinese megafactories to provide houseing and food. NONE of the workers are happy to be dormed, it is just a fact of life, if you want to work in a factory.

The rent is not too high in China, there is nothing to rent. People that buy Condos, buy them for cash, as a supposed safe haven for their money, as real estate in China has never crashed. They keep them empty for a reason, so they hold their value. To rent them would diminish their value over time due to wear and tear. There are few factory workers that can afford what the rent would be for the investors to make a reasonable return on their investment. My inlaws have 3 condos, they are kept empty and remain in the brand new condition as when they were built. Crazy? yes!