Manufacturing nothing

From the Norwalk Reflector: “Norwalk Furniture is history.”

I’m more concerned about firms like Norwalk Furniture going belly up than I am about Wall Street firms going belly up.  Can you guess why?

5 Responses to “Manufacturing nothing”

  1. muley Says:

    …..I’m guessing that the feds won’t be bailing Norwalk Furniture anytime soon.

  2. buckeyerino Says:

    Nor should the feds have to. Good guess, but, in the grand scheme of things, how does a furniture manufacturer take a back seat to an insurance firm like AIG? One actually produces a quality tangible good that brings dollars and jobs into the community that manufactured it. Does AIG produce anything tangible?

  3. LisaRenee Says:

    The other side to Norwalk Furniture is it shows how difficult it is for a company to exist in today’s global market. Americans are not interested in items made in the USA, they buy cheaper furniture made out of the country. Which in turn creates situations like this one where as we lose more and more manufacturing jobs, what these jobs are replaced with and how the workers who relied on them will have the training and skills needed to do something else becomes the issue.

  4. buckeyerino Says:

    Wall Street pressures are among the reasons why manufacturing jobs go overseas. Even when American manufacturers make profits, if a competitor has even higher profit margins because they manufacture overseas, Wall Street punishes the stock of the American manufacturer and rewards the stock of the foreign manufacturer. The automotive parts plant for Ford that I used to work at was capable of making profits, but all that work has now been outsourced elsewhere. Retail chains don’t want to advertise where products are made–they just want to advertise the price. I bet a lot of shoppers would look for American-made goods on the store shelves if we knew where to find them. Instead, one has to pick up each item and search the package to discover where it was made, and finding an item not made in China means searching many, many, many packages. Also, the Wall Street elites and the Hollywood elites make foreign imports into status symbols, especially when it comes to cars. It’s like California and the Northeastern U.S. have imposed economic sanctions on the Midwest with the prevalence of imported autos. Hollywood movies portraying jet-setters show them with imported cars, not a Cadillac or a Lincoln. Likewise, when the paparazzi catch up with celebrities, they are driving imports. Yet, we in the Midwest are supposed to care that Hollywood’s A-list endorses Barack Obama?

  5. muley Says:

    …..but it all comes down to one thing, and one thing only………

    Greed


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