Tuesday, 12 August 2008

Goldman Sachs cuts cables and dumps robots

News about RTS - the Irlam based robotics company - which has lost investment from Goldman Sachs. This move demonstrates how local development is open to the vagaries of local decision making and shows how powerful City based institutions can affect distant places and people with somewhat arbitrary decision making. Countries with regional banking systems tend to make less decisions like this in order to retain investment within specific localities - not in the UK - where a deregulated and globalised financial industry - simply aims to make a fast buck wherever it can no matter what the local consequences might be.

Source: Goldman Sachs cuts cables and dumps robots - Crain's Manchester Business

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