Tweet
http://www.courierpress.com/news/200...le-plant-2010/
It's not the first plant Whirlpool has closed in the U.S. in the last couple of years and not the last.
What follows was the possible nail in the coffin for the company in 2005:
http://www.redorbit.com/news/busines...ool/index.html
It was amusing to reading the comments left by members of the politicized right whom were no doubt frothing at the mouth as they celebrated via keyboard the loss of more jobs by American workers....Because that's a good thing since they were union jobs. These are the true Patriots from Palin's real America on display:
http://www.courierpress.com/news/200...web-Whirlpool/
http://www.courierpress.com/news/200...web-Whirlpool/
- Blame Obama because of cap and trade
- Blame only the workers that voted for Bill Clinton because he passed NAFTA
- Blame only the workers possibly for purchasing cars made by foreign companies
- Blame only the union for causing all of Whirlpool's problems in Evansville
- Workers earning $30k - $40k were being paid 50% too much
- Blame Whirlpool for only making top mount style models (I checked, not true)
Evansville's Whirlpool factory, which has employed several generations of Tri-Staters and once gave backing to the city's claim as "Refrigerator Capital of the World," will close next year, leaving at least 1,100 people unemployed as production moves to Mexico.
cont.
cont.
What follows was the possible nail in the coffin for the company in 2005:
http://www.redorbit.com/news/busines...ool/index.html
Posted on: Tuesday, 23 August 2005, 00:00 CDT
Aug. 23--Maytag Corp. directors, after waiting in vain for a rival suitor to raise its bid, agreed Monday to sell the company to longtime appliance-industry rival Whirlpool Corp. for $1.7 billion.
The proposed acquisition is far from a sure thing, however: because a Whirlpool/Maytag combination will hold a nearly 50 percent share in certain segments of the household-appliance marketplace, the acquisition announced Monday is expected to face tough, protracted scrutiny from federal antitrust regulators.
Monday's accord ends a lengthy bidding process that began in May. That's when an investor group led by the New York buyout firm of Ripplewood Holdings offered to buy financially struggling Maytag for $14 a share, or $1.12 billion. Under that plan, Maytag was granted thirty days to seek a higher offer.
Their efforts to find another buyer went nowhere, however, until Whirlpool entered the bidding at the eleventh hour, offering $17, then $18 and finally earlier this month $21 a share.
[..]
As part of the transaction, Whirlpool is also responsibility for $977 million in Maytag debt...
Aug. 23--Maytag Corp. directors, after waiting in vain for a rival suitor to raise its bid, agreed Monday to sell the company to longtime appliance-industry rival Whirlpool Corp. for $1.7 billion.
The proposed acquisition is far from a sure thing, however: because a Whirlpool/Maytag combination will hold a nearly 50 percent share in certain segments of the household-appliance marketplace, the acquisition announced Monday is expected to face tough, protracted scrutiny from federal antitrust regulators.
Monday's accord ends a lengthy bidding process that began in May. That's when an investor group led by the New York buyout firm of Ripplewood Holdings offered to buy financially struggling Maytag for $14 a share, or $1.12 billion. Under that plan, Maytag was granted thirty days to seek a higher offer.
Their efforts to find another buyer went nowhere, however, until Whirlpool entered the bidding at the eleventh hour, offering $17, then $18 and finally earlier this month $21 a share.
[..]
As part of the transaction, Whirlpool is also responsibility for $977 million in Maytag debt...
http://www.courierpress.com/news/200...web-Whirlpool/
http://www.courierpress.com/news/200...web-Whirlpool/
- Blame Obama because of cap and trade
- Blame only the workers that voted for Bill Clinton because he passed NAFTA
- Blame only the workers possibly for purchasing cars made by foreign companies
- Blame only the union for causing all of Whirlpool's problems in Evansville
- Workers earning $30k - $40k were being paid 50% too much
- Blame Whirlpool for only making top mount style models (I checked, not true)
Comment