Posted on 10/21/2004 10:52:14 AM PDT by Willie Green
For education and discussion only. Not for commercial use.
U.S. toolmaker Black & Decker says it will dismiss about 700 employees, shut two factories and move production offshore.
The moves follow a $775 million merger with Pentair's Tools Group unit that Black & Decker bought this month, the Baltimore Sun reported Wednesday.
Workers at the acquired unit will bear many of the job losses: as many as 75 sales, management, marketing and engineering employees out of 1,800, most of whom are in manufacturing and distribution, will be cut at two plants, and more than 100 sales representatives will be fired by year's end.
Black & Decker also will cut 130 full-time employees by the end of the year and 200 temporary workers immediately at a Black & Decker plant in Fayetteville, N.C.
Further, the company, based in Towson, Md., is moving a production line that makes drills, reciprocating saws and motors to Reynosa, Mexico, and production of large angle grinders to the Czech Republic.
The President took the jobs and left the country? This could be hugh.
Drills, reciprocating saws, motors, large angle grinders, you know buggywhips. Better to sell that manufacturing capability out to make profits and get ready for The Next Big Thing (just don't ask what that is).
Isn't that why they say the President lost so many million jobs since being elected?
Uh Oh. Hillary better stock up on her industrial strength vibrators before they move offshore.
In comparison to other states, North Carolina has proven to be an attractive location for international employers, ranking 9th in the United States in the number of employees supported by U.S. subsidiaries.
In fact, the relative portion of jobs in the state supplied by U.S. subsidiaries has remained strong over time. They provide the livelihood for around 6.5% of North Carolina's private-sector workforce.
[Willie Green missed the following when it came out]
Infineon Technologies Norht America Corporation, a U.S. subsidiary of a German semiconductor manufacturer, purchased a facility in Cary employing 400 people in the fall of 2003. The average salary of these jobs is approximately $75,000 per year. The company will also invest $8 million in land, building, infrastructure and equipment by the end of 2004. This facility will house research and development, human resources, IT, logistics, finance and administrative functions. This will accompany a research and development plant in Resarch Triangle Park.
You sure got that right. The American-made tools that used to come out of Delta and Powermatic years ago were great. Their stuff from China & Taiwan certainly is junk by comparison.
Willie Green is actually French.
I buy DeWalt and Porter Cable. But I do have a made in japan Makita drill which is good quality.
Maybe THAT'S why business sucks.
True, and the federal government's recent crackdown on corporate management, while the government wastes more money than ever isn't helping any.
It's those damn consumers again. They're unwilling to pay the prices necessary to support high wages for low skilled labor.
Kerry's got a secret plan - and he may reveal it (or not) right after he's elected.
cheap tools are more expensive then good ones - because you have to re-purchase the cheap ones again and again. but that's what the retailers want, and the consumers only see the "cost" of something as what is charged for it at the time of purchase.
That's true for pros who use their tools a lot. For homeowners, the cheap tool may be just right. It may only be used a few times. There are exceptions, like painting where superior paint and tools do a much better job, even if they are only used once. A person may be better off renting the expensive tools, too. The choice should be up to the consumer.
That's all I'll buy.
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