Re: New Process Gear defunct?

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Posted by John/Florida [68.63.234.125] on Tuesday, August 21, 2012 at 05:02:51 :

In Reply to: New Process Gear defunct? posted by Sherman in Idaho [72.47.9.37] on Tuesday, August 21, 2012 at 03:48:08 :

True. 124 year old company closing this week. Company was sold a few times in the last several years and started losing money. Unions rejected wage and benefit concessions 3 times in 2009. Company regained profitability anyhow, but management is closing shop anyway. $5 million per week payroll and 4,000 jobs gone.


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