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Posted by MoparNorm on Monday, December 15, 2008 at 21:04:12 :
In Reply to: I read it correctly posted by D Sherman on Monday, December 15, 2008 at 19:56:29 :
Ironic that you mention that, Lockheed, and Douglas are still in the commercial airplane business, just in a different form, Lockheed is a supplier and Douglas is an absorbed division of Boeing.
When Rockwell, Douglas and General Dynamics were downsized or absorbed, entire communities were left jobless and devastated. Locally here, the areas around the Hughes, Rockwell and GD plants have still not fully recovered, businesses and buildings are still boarded up from the early 1990's.
Restaurants closed, machine shops and vendors shut down and/or moved away. The Southern California economy never recovered from that, it changed, but it never recovered. The Starbucks and Chick-Filet's that moved into some of the vacant buildings pay their employees $20+ per hour less than the aerospace workers made, the equity value of the economy was greatly diminished and resulted in the hiring of cheap illegal workers because folks couldn't afford real American workers to build their homes and businesses. Wall Street and bankers made up the missing value in the economy by using smoke and mirrors to artificially boost real estate values and inflate a false worth in the economy.
The emperor has no clothes...
How's that working out for us now?....= (
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