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Author Topic: Bush policy 'model factory' shutting down  (Read 245 times)

Offline Chairboy

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Bush policy 'model factory' shutting down
« on: May 18, 2004, 01:30:19 AM »
http://counterspin.blogspot.com/2004/05/bush-league-ohio-manufacturing-plant.html

From Fark: Ohio factory that Bush visited last year and used as example of how his economic policies were working announces it will shut down and lay off all 1300 employees
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Offline Sixpence

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Bush policy 'model factory' shutting down
« Reply #1 on: May 18, 2004, 06:18:26 AM »
Yeah, the liberal media has it on the news so much i'm surprised that leftover shell got any news.
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Offline _Schadenfreude_

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Bush policy 'model factory' shutting down
« Reply #2 on: May 18, 2004, 07:27:31 AM »
Wow, good thing Michael Moore is busy in Cannes getting 20 minute standing ovations for Farenheit 451, if he wasn't he'd be all over this titbit like a bad rash!!
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Offline Ripsnort

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Bush policy 'model factory' shutting down
« Reply #3 on: May 18, 2004, 07:35:02 AM »
And now for the "rest" of the story...;)

Quote
The Timken Co. plans to close three Canton bearings plants that employ 1,300 workers and shift most of the production to other U.S. plants.

Friday's announcement gave no timetable for the shutdown but it followed months of discussions between the company and union officials over how to make the plants, which are among the company's oldest, more productive. "It's just all about being competitive," Timken spokesman Jason Saragin said.
 
Timken and its union must negotiate whether employees will be transferred to the company's other plants, Saragin said. One of the plants being closed was its first and was built in 1901.

Timken's Canton-based steel operations are not affected by the decision. The company employs about 26,000 people worldwide.
Timken has been troubled for several months, but in the appeared to be rebounding. The company doubled earnings to $28.4 million in the first quarter on record revenues of $1.1 billion as demand by industrial, steel and automotive markets increased by double-digit rates.

Before that, Timken revised its annual earnings estimate three times in 2003. That year the company also removed the president of its automotive group and announced 900 job cuts, mainly within the automotive operations.

The company's stock fell and its credit rating was downgraded to junk by Moody's Investors Services last fall - the first time Timken's 104 years that its rating was dropped below investment grade.

In February, Timken completed a $840 million purchase of Torrington, a subsidiary of Ingersoll-Rand Co. The acquisition expanded the company's automotive and industrial bearings-based products, but the deal was overshadowed by Timken's financial problems that weakened investor confidence.


Source: Las Vegas Sun
« Last Edit: May 18, 2004, 07:38:30 AM by Ripsnort »
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Offline strk

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Bush policy 'model factory' shutting down
« Reply #4 on: May 18, 2004, 07:50:58 AM »
Quote
Originally posted by Ripsnort
And now for the "rest" of the story...;)



Source: Las Vegas Sun


so TImken is already a mulitnational?  That is why BUsh* handlers had to put "made in the USA" labels over the "made in china" stenciled on the boxes for BUsh* s photo op?

we will see how many of those jobs stay in the US.  This company is in bad shape - I guess they didnt hear about the magical recovery.
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Offline Ripsnort

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Bush policy 'model factory' shutting down
« Reply #5 on: May 18, 2004, 07:55:00 AM »
Quote
Originally posted by strk
so TImken is already a mulitnational?  That is why BUsh* handlers had to put "made in the USA" labels over the "made in china" stenciled on the boxes for BUsh* s photo op?

we will see how many of those jobs stay in the US.  This company is in bad shape - I guess they didnt hear about the magical recovery.


Dang nice try strk! I'll give you an E for "Effort" ;)

Quote
The company’s new plants are in Cairo, Canton, Dahlonega and Sylvania, Ga.; Rutherfordton, N.C.; Clinton, Honea Path, Union and Walhalla, S.C.; and Pulaski, Tenn. Also in attendance were coordinators from Gaffney, S.C., and Lincolnton, N.C.
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Offline strk

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Bush policy 'model factory' shutting down
« Reply #6 on: May 18, 2004, 08:00:09 AM »
Quote
Originally posted by Ripsnort
Dang nice try strk! I'll give you an E for "Effort" ;)


you proved nothing!  Nothing!!

I dont have anything against this company, but I am cynical about jobs going overseas.  Im still going to wait and see on this one - you see this corp already HAS factories overseas.

it came from your own cut n paste.  That is called BB Judo! Yes I used your own post against you!  Haha!  you will be a cheese eating surrender monkey when I am done with you!!  Surrender now and avoid the embarassment!!

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Offline DmdBT

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Bush policy 'model factory' shutting down
« Reply #7 on: May 18, 2004, 05:57:05 PM »
quote:
--------------------------------------------------------------------------------
The company’s new plants are in Cairo, Canton, Dahlonega and Sylvania, Ga.; Rutherfordton, N.C.; Clinton, Honea Path, Union and Walhalla, S.C.; and Pulaski, Tenn. Also in attendance were coordinators from Gaffney, S.C., and Lincolnton, N.C.
--------------------------------------------------------------------------------


Ahaaa!  They're moving production to a 3rd world country after all!!
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