Keyword: economybashing
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For education and discussion only. Not for commercial use. No threat to US jobs because America alone can be the birthplace of ideas. Bangalore techies can only help them reach the market quicker Yamini Narayanan is an Indian-born 35-year-old with a Ph.D. in Economics from the University of Oklahoma. After graduation, she worked for a US computer company in Virginia and recently moved back to Bangalore with her husband to be closer to family. When I asked her how she felt about the outsourcing of jobs from her adopted country, America, to her native country, India, she responded with a...
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For education and discussion only. Not for commercial use. PILOT MOUNTAIN, N.C. - Intex Corp. plans to shut down its fabric printing plant by the end of June and lay off 115 workers, town officials said. "It was a jaw dropper," Pilot Mountain town manager John Robertson said. "They had been a good employer in town. It's unfortunate the whole family over there will be out of work." Company officials could not be reached for immediate comment. The 95,000-square-foot factory has been open in Pilot Mountain since the late 1980s and could print 600,000 yards of fabric per week and...
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For education and discussion only. Not for commercial use. A neighbor's number appeared on the caller ID screen, but there was no message. My wife phoned back to check the reason for the call as she's a frequent movie or lunch companion of the lady of the house. But this time it was the husband who wanted to talk. He had been fired the day before after 18 years on the job as an engineer for a major company. No warning, just a routine summons to the boss' office on a weekday morning. He later said he was somewhat surprised...
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For education and discussion only. Not for commercial use. JACKSONVILLE, Fla. -- CSX Corp. announced Monday it will cut 800 to 1,000 nonunion employees over the next six months, as part of a plan to streamline its management structure and to create a smaller organization. The railroad said the layoffs will cost $60 million to $80 million, which will be recognized over the next two quarters. The company said it expects to fully realize the effect of the savings by the middle of 2004. The company is streamlining its management structure from 11 layers to no more than eight. The...
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For education and discussion only. Not for commercial use. The quickening flight of high-tech and white-collar service jobs has always represented the ultimate betrayal of the American worker by globalization. For years, globalization cheerleaders described the hemorrhage of manufacturing jobs as acceptable and even welcome because American workers would be retrained for the higher-paying, knowledge-based “industries of the future” –- especially the research and development, design, and engineering needed to produce cutting edge goods and services. Starting during the tech boom, though, U.S. technology companies made clear that the “higher paying” part wasn´t on their agenda. By pumping up the...
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<p>EVERLAST Worldwide Inc. announced last Friday that it will close its Bronx plant in December, eliminating 100 jobs. Production of boxing trunks, speed bags and other equipment will move to the company's plant in Missouri.</p>
<p>Everlast expects the move to save $2.8 million a year. That's a huge savings for a relatively small concern, with sales of $66 million in 2002. Company managers would be ignoring their fiduciary responsibility to shareholders if they were to pass up the opportunity.</p>
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11/10/2003 Motorola Inc., the world's second- largest maker of mobile telephones, will eliminate 2,400 jobs by the first quarter, on top of the 6,600 it has cut through the first nine months of this year. The additional cuts will cost about $131 million in severance pay, Schaumburg, Ill.-based Motorola said in a quarterly report filed with the Securities and Exchange Commission. Motorola has already paid $328 million this year for the previous reductions. Motorola, which has a plant in Elma, has discontinued product lines, exited businesses and consolidated operations as it has lost market share to rivals, including Finland's Nokia...
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How America Lost Its Industrial Edge -- comments by Eamonn Fingleton How America Lost Its Industrial Edge By Paula R. Kaufman Economic commentator Eamonn Fingleton speaks bluntly about what he sees as the frittering away of the United States' manufacturing base and what he regards as the consequent stagnation of the American standard of living. For those who believe in the superiority of the current U.S. postindustrial strategy, a reading of the OECD Economic Yearbook makes for a distinctly chastening study. As Fingleton puts it: "The United States trails no fewer than eight other nations, all of which devote a...
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Bye, Bye Miss American Pie; Outsourcing is Tantamount to Slavery I’m just going to blurt it out; tell it like it is. In the words of the venerable, Walter Cronkite, “and that’s the way it is”; here it is folks; outsourcing is tantamount to legalized slave labor. Of course, it’s much more than that to the American worker. Ask anyone who is out of work, out of unemployment, on the verge of losing their home and all that they worked for and thought was their American dream come true. Their jobs by the multi-millions have left the shores of the...
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For education and discussion only. Not for commercial use. Dan River, county's largest manufacturer, closing textile plant Dan River Inc., the largest manufacturer in Sevier County, told state and local officials late Monday that it is closing its Middle Creek Road plant and eliminating 416 jobs early next year. Layoffs are expected to begin Jan. 9 and the textile plant is to be closed by March 1, according to a notice sent to the state Department of Labor and Workforce Development. Weaving capacity at Sevierville will be transferred to a plant in the company's hometown of Danville, Va. The company...
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For education and discussion only. Not for commercial use. THOMASVILLE, N.C. -- Thomasville Furniture Industries will cut 200 jobs in the next two to three months as it continues to suffer under competition from imports, the company says. The layoffs announced Monday will affect four of the company's wood-furniture plants and nine plants that support the wood manufacturing operations, said Rick Millen, director of human resources. One of the main wood plants is in Caldwell County; the rest are in the Thomasville area. "We are not closing a plant," Millen said. "And we have no plans to close another plant....
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