Wednesday, November 21, 2012

Chop Chop

Tis the season.  The season to gut the productive class and for public policy makers to deny they are in any way culpable.  Today from both coasts:

She said the positions affected were in administration, sales and marketing, customer service and engineering. The company also is consolidating accounts payable to its manufacturing site in Hillsboro, Ore. Two of the Camarillo employees were offered jobs in Oregon, she said.
In Hillsboro, 37 nonproduction workers lost their jobs, and 12 of them were offered other positions, Cichoski said. The company has reduced manufacturing through attrition, not layoffs, she said.
While the latest cuts will leave 50 to 60 people in Camarillo, the office will remain open because the company wants a presence in California, Cichoski said.
Read more: 


ATKINS, Va. (AP) -- Cabinet maker Merillat is laying off 280 employees at two manufacturing plants in southwest Virginia.
Officials for parent company Masco Cabinetry confirmed on Tuesday that it plans to close two facilities that make doors and panels for cabinets in Atkins in mid-January.
The company had filed a WARN Act notice with Virginia officials last Thursday to alert them of the planned closure.
Officials say the door manufacturing plant opened in 1977 and employs 16 salaried workers and 200 hourly workers. The panel factory opened in 1991 and has three salaried employees and about 60 hourly workers. They are being provided severance packages and outplacement assistance.
Read more: Cabinet Maker...
Happy Thanksgiving to these several hundred former employables.  


w said...

Morning Rob,

Did you catch the article regarding Ventura County pensions in the Star this morning?

Revising estimates of future returns down from 8% to 7.75%!!!

sm_landlord said...

It's funny: While talking to the new mayor of Oxnard before the election, he did not seem to be aware of all the empty manufacturing space.

To his credit, he added something to his platform about it. Hopefully he can find a way to follow through and attract business other than residential construction to west Venco.

Rob Dawg said...

Yup and after earning a whopping 1.5% this year.

The real problem is that there are a slew of retirement eligibles who see the writing on the wall and are getting out far sooner than the models anticipated.

So let's do the math. 100 x 1.015 x 1.015 x 1.015 versus 100 x 1.0775 x 1.0775 x 1.0775.

1.061 versus 1.452. Yup, no problem.

Thomas Stone said...

Can Venco compete with the san fernando valley in making porn flicks?

sm_landlord said...

Porn in Venco? There are plenty of places to shoot (so to speak), and it's within driving distance for the people.

But then it's only a 45 minute flight from Burbank to Las Vegas.

And I'm not sure that Venco knows how to attract that business. The local film commission, such as it is, probably couldn't do it for political reasons.