Posted on 09/11/2004 3:01:29 PM PDT by Willie Green
For education and discussion only. Not for commercial use.
ONEIDA, N.Y. - Dishware maker Oneida Ltd. said Thursday it will close its remaining factory in upstate New York early next year, ending all its manufacturing of flatware because of high operating costs.
The decision will cost about 500 workers their jobs, including manufacturing and managerial positions.
Oneida said high operating costs of its last flatware factory in Sherrill, near Syracuse, caused substantial losses. Oneida plans to continue marketing the affected products by using independent suppliers.
"For the long-term viability of our company, closing the factory dramatically lowers our costs which will help return Oneida to profitability," chairman and chief executive Peter Kallet said.
About 400 jobs will remain in the Oneida area following the last factory closing, mostly at its corporate headquarters and warehouse and distribution centers. The Oneida-based company employs about 1,200 people worldwide.
The announcement came as the company reported a second quarter net loss of $48.3 million on Thursday including non-recurring charges of about $45.5 million.
The non-recurring charges, in addition to the factory closing expenses, involved inventory writedowns and other expenses related to the sale of the Encore Promotions, Inc. subsidiary.
In June, the company reached a tentative deal with its lenders on a restructuring plan and $30 million in new revolving credit to help avoid bankruptcy.
Oneida lost $99.2 million last year. As a result, the company closed or sold five factories and now buys most of its china, glassware and flatware from other companies to resell under the Oneida brand name.
No, it's just that some people are sickos. SOme people have there own private Hell and hate life and they look for stories to generate company. Like I said, we have a 5.4% nat'l unemployment rate. That is generally considered full employment.
I want the people laid off from O'Neida to do well and get new, better jobs. But I don't think they represent what's happening in America. I think the perpetual malcontents like you and Willie are Bad Time guys. During genuine hardship, you would fold. You go and invent thins to worry and kevetch about.
It ain't utopia out there, but it's pretty darn good. Get over yourselves.
The elephant in the room is how long will be it till unemployed and underemployed workers start to vote for outright Socialists(under the D label of course)? No one knows when this will reach critical mass, but combine these displaced workers with easily minipulated 3rd world immigrants as voters, and I fear we are headed to a full on social welfare state that will make the Great Society pale in comparison.
What a useless argument, especially since the position most protectionists take favors more state intervention. So in other words, "You fear socialism? We must try socialism!" What a joke.
You have never been able to frame an arguemnet 1rudeboy that goes beyond slogans and rhetoric. First off, and I am sure you have read this hundreds of times, restriction of immigration and tariffs are not Socialist in the least, and it is what this country did untill the Carter era. Sen. Taft, who was a conservatives conservative was no free trader for an example. Sadly the GOP has gone further way from mainstreet and has become closer to wall street. It seems like despte lip service to conservatives, the Nelson Rockefeller wing of the GOP has finally won.
Yeah! I eat with chopsticks every single day, and for many things they work a lot better than a fork.
I live only a couple of miles away from the Oneida factory in Sherrill...this will be a hard blow for our county ...many people in my town depended on Oneida Ltd. for their livelihoods..Madison county is very rural, with only a few factories spead out throughout the county...the closest places to work are Syracuse and Utica..and many places have already closed down or are planning to close.
We do however have the Oneida Indian casino that rakes in untold revenues and does not pay taxes..they have taken over our gas stations and have bought up huge amounts of land which are now automatically tax free. Our taxes have tripled in the 10 years we have been here.
Losing the Oneida factory is going to be hard...and I pray for the families who depended on Oneida Ltd. for their paychecks.
Doing what? In upstate New York there is not much going on.
This is where you tell me they should move to where the work is. Well, if everyone did that there would be no more suburban areas because all of the unemployed would have to move to big cities to find work. That's where the work is. Just pack up and move. Just like Tom Joad, right? I can't wait to see what a truly transient society looks like.
I point you to the 5.4 % nat'l unemployment rate. I point you to the consuption and affluence everywhere. Everybody has two tvs, DVDs, digital cameras, new cars, money for $5 soy lattes.
Too much bitchin=, man.
I'm not saying it's utopia, but no country has been more aflluent and more "woe is us" in the history of the World.
We expect the Irqis to be optimistic? Golly, we are a bunch of crybabies.
I hate to hear this news, but I want to remind everyone that it was "The one whose name shall not be spoken" that promised to fix things in Upstate NY. Seems she can't keep her promises. This will not bode well for her for 2008!
LLS
What there isn't enough people here already to keep the economy going, without importing poverty?????
As for tariffs, they are inherently socialist. Talk about slogans. You are, in effect, claiming that tariffs do not have socialist attributes because, well, they exist. LOL
For once, the blame doesn't fall on Hillary. The fault lies with state government. New York has the highest combined state and local taxes in the country, crushing workers' comp costs, some of the highest utility costs in the country and an oppressive regulatory environment.
Psst. This thread is not about illegal immigration.
What's an Irqi?
BTW, I thought one needs rhetoric in order to argue. Talk about a slip.
A cheap car made in France?
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