May 12, 1998 |
For years, Sunbeam Chairman "Chainsaw" Al Dunlap has been working from the same script: Move into a company, announce mass firings and watch the company's stock soar. That strategy worked for the 60-year-old Dunlap--until this week. On Monday, Sunbeam's battered stock dropped $2.06, or 7.4%, to $25.75, near its lowest level in a year, after officials reported a first-quarter loss and plans to close eight plants and fire about 6,000 more workers.
January 23, 2006 |
In one of the final scenes of the western "Big Jake," John Wayne could have been talking about the Winchester rifle as he reflected on the passing of the Old West. "Well," says Big Jake to his Apache sidekick, "times change -- usually for the better." The sign of changing times for the Winchester -- the "Gun That Won the West" and the brand most closely associated with Wayne's long career in film Westerns -- is that it will no longer be made in America.
August 28, 2009 |
Toyota Motor Corp.'s decision to abandon its assembly line in Fremont marks the end of large-scale auto manufacturing in California, which over the years boasted a dozen or more plants building vehicles ranging from Studebakers to Camaro muscle cars. The Japanese automaker said Thursday that it would end production at the plant March 31, throwing 4,700 people out of work, and return some production to Japan. It's another hard blow for California, a state already grappling with an 11.9% unemployment rate -- its highest since World War II and the fourth-worst in the nation.
September 10, 1992 |
Apple Computer on Wednesday said it would close its only factory in the Silicon Valley area and lay off 345 employees as part of a worldwide reorganization of its manufacturing and distribution operations. The unexpected shuttering of the facility in Fremont, Calif.--which Apple had touted just two years ago as a showpiece of automated production--is the latest setback for recession-ravaged Silicon Valley.
August 24, 1990 |
A&E Systems, a recreational vehicle awning and equipment manufacturer that in May employed 400 people in Orange County, will close its plant here by the end of the month in part because of strict regional air pollution regulations. The company has been gradually laying off workers in the past three months and fewer than 50 workers remain at the plant. Manufacturing at the facility, which is up for lease, ceased Aug. 10. Company officials would not comment on the closing.
September 8, 1995 |
Brown Group Plans to Close Plants, Cut 2,400 Jobs: The St. Louis-based shoe company reported a second-quarter net loss of $8.4 million, or 48 cents a share, down from a profit of $7.4 million, or 42 cents a share, for the quarter last year. Revenue declined to $342.9 million from $353 million. The loss includes a $9.6-million, or 55 cent a share, after-tax charge to cover the cost of factory closings. The plants to be closed are in Cabool and Steelville, Mo.; Dyer and Lexington, Tenn.