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How Finance Gutted Manufacturing | Boston Review

How Finance Gutted Manufacturing | Boston Review | CARBIDE TV The Machinist Channel | Scoop.it

In May 2013 shareholders voted to break up the Timken Company—a $5 billion Ohio manufacturer of tapered bearings, power transmissions, gears, and specialty steel—into two separate businesses. Their goal was to raise stock prices. The company, which makes complex and difficult products that cannot be easily outsourced, employs 20,000 people in the United States, China, and Romania. Ward “Tim” Timken, Jr., the Timken chairman whose family founded the business more than a hundred years ago, and James Griffith, Timken’s CEO, opposed the move...Read More....


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"The Hostile Takeover" a favorite way for the rich to get richer at the expense of 'Why Factories Shutdown'

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The biggest bite maneuver ever?

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Religion vs Unifor: Gingrich Woodcraft factory at centre of debate remains closed

Religion vs Unifor: Gingrich Woodcraft factory at centre of debate remains closed | CARBIDE TV The Machinist Channel | Scoop.it
A national director with Unifor remains hopeful a buyer can be found for Gingrich Woodcraft, a furniture factory in northwestern Ontario. It closed a year ago after workers voted in favour of unionizing.
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Former AGC Glass Plant's 'available' signs a 'bitter pill' for some

Former AGC Glass Plant's 'available' signs a 'bitter pill' for some | CARBIDE TV The Machinist Channel | Scoop.it
VICTORVILLE — For hundreds of former employees of the shuttered AGC Glass Plant, the dream of returning to work there died many years ago, but a recent sign erected on the property has some thinking about the good old days.Former employees told the Daily Press the recent property “available” signs that popped up along Silica Road stir up positive and negative emotions for the group that picked up the pieces of their lives and moved on nearly 10 years ago.“When the
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100 workers in Sydney, N.S. first casualties of Saputo dairy plant closures

100 workers in Sydney, N.S. first casualties of Saputo dairy plant closures | CARBIDE TV The Machinist Channel | Scoop.it
Canada’s largest cheese manufacturer has shuttered the first of three factories slated for closure in a bid to cut costs and boost efficiency.
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Unifor launches campaign to save GM Oshawa plant

Unifor launches campaign to save GM Oshawa plant | CARBIDE TV The Machinist Channel | Scoop.it
GM Canada president in message seeks partnership in negotiations with union
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Hershey cuts 180 jobs with Brookside plant closure | Confectionery Production

Hershey cuts 180 jobs with Brookside plant closure | Confectionery Production | CARBIDE TV The Machinist Channel | Scoop.it
Confectionery giant The Hershey Company is to close its Brookside Abbotsford plant in Canada by the end of October, with the loss of 180 jobs.
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Union blind sided by shutdown of London Free Press print plant

Union blind sided by shutdown of London Free Press print plant | CARBIDE TV The Machinist Channel | Scoop.it
Closure of the London Free Press printing press operation means 135 workers will be out of a job, according to the union representing the employees.
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Mexico's Grupo Bimbo confirms new Canada Bread site closure

Mexico's Grupo Bimbo confirms new Canada Bread site closure | CARBIDE TV The Machinist Channel | Scoop.it
Canada Bread, a subsidiary of Mexican bakery group Grupo Bimbo, is to close its bakery in North Bay, in Canada's Ontario province. related to Bakery, Emerging markets, Grupo Bimbo,
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Maiden textile plant closing, 159 people losing jobs

Maiden textile plant closing, 159 people losing jobs | CARBIDE TV The Machinist Channel | Scoop.it
A WARN notice was filed with the state on May 11, with an indicated shutdown date of July 1.
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BREAKING NEWS: Caterpillar Closing Down Five Plants and Cutting 820 Jobs > ENGINEERING.com

BREAKING NEWS: Caterpillar Closing Down Five Plants and Cutting 820 Jobs > ENGINEERING.com | CARBIDE TV The Machinist Channel | Scoop.it
Caterpillar Inc. downsizing due to slowing demand for construction and mining equipment.
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Primo Foods wants Canadian bragging rights in ketchup wars

Primo Foods wants Canadian bragging rights in ketchup wars | CARBIDE TV The Machinist Channel | Scoop.it
Canadian company Primo Foods, commonly known for its pasta sauces, recently rolled out its version of the sweet, red condiment that has captured patriotic hearts across the country.
Bruce Hyde's insight:
Feed your children food made in Canada and slow nuclear weapons escalation.
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Japanese auto parts firm fined $13M by Ontario court for bid-rigging - Canadian Manufacturing

Japanese auto parts firm fined $13M by Ontario court for bid-rigging - Canadian Manufacturing | CARBIDE TV The Machinist Channel | Scoop.it
This was the ninth guilty plea since a federal investigation into bid rigging that was launched three years ago
Bruce Hyde's insight:
Globalization has a new strategy: Lie, cheat and steal enough to cover the legal cost and the fine's; if you get caught.
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Saputo closing three Canadian plants to cut costs, impacting 230 employees

Saputo closing three Canadian plants to cut costs, impacting 230 employees | CARBIDE TV The Machinist Channel | Scoop.it
Saputo says it will close three plants in Eastern and Atlantic Canada employing some 230 workers by the end of 2017 in a move to cut costs and boost efficiency
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Jobs, infrastructure get the most attention in Ontario budget - Canadian Manufacturing

Jobs, infrastructure get the most attention in Ontario budget - Canadian Manufacturing | CARBIDE TV The Machinist Channel | Scoop.it
Indeed, Ontario’s net debt will hit $308 billion in 2016-17 with interest payments totaling $11.8 billion. That figure will increase to $13.1 billion by 2018.

According to the totally unofficial (but quite interesting) provincial debt clock, each resident of Ontario owes about $21, 600.
Bruce Hyde's insight:

Today each of your children owe $21,600 in debt. Indeed, Ontario’s net debt will hit $308 billion in 2016-17 with interest payments totaling $11.8 billion. That figure will increase to $13.1 billion by 2018. Of course non of this is attributed to 'Why Factories Shutdown' Documentary Series

 

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Canada Bread plant in North Bay shuts doors, says 'production costs and bottom line' forced closure

Canada Bread plant in North Bay shuts doors, says 'production costs and bottom line' forced closure | CARBIDE TV The Machinist Channel | Scoop.it
It's the last day on the job for 60 workers at the Canada Bread plant in North Bay.
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What the closure of an Arctic seaport in Manitoba could mean for Canadian sovereignty

What the closure of an Arctic seaport in Manitoba could mean for Canadian sovereignty | CARBIDE TV The Machinist Channel | Scoop.it
The viability of the only deepwater port connected to Canada's transportation network is no small matter, at a time when climate change is opening up the Arctic Ocean to shipping, and powerful nations like Russia and China pose new threats to Canada's sovereignty.
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Conference Board warns of auto sector decline

Conference Board warns of auto sector decline | CARBIDE TV The Machinist Channel | Scoop.it
The Conference Board of Canada's Motor Vehicle Manufacturing Industry Outlook report says vehicle production in this country will decline by 10 per cent
Bruce Hyde's insight:
Ontario energy costs are rising fast and Mexico's energy cost is falling fast, so our children will be having the siesta. 
Mexican's have the longest work hours in the world and are very proud they have earned your children's future manufacturing, engineering and design jobs.  
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Bombardier to sell water bomber division to Viking Air, cut 200 jobs - Canadian Manufacturing

Bombardier to sell water bomber division to Viking Air, cut 200 jobs - Canadian Manufacturing | CARBIDE TV The Machinist Channel | Scoop.it
Bombardier Aerospace says it plans to cut 200 positions at the company's Q400 manufacturing operation in Toronto so some work can be outsourced to other countries
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Did the Canadian Government Bribe Saudi Officials to Obtain its Arms Deal?

Did the Canadian Government Bribe Saudi Officials to Obtain its Arms Deal? | CARBIDE TV The Machinist Channel | Scoop.it
In 1965, the United States and the UK were competing to sell war planes to Saudi Arabia. In order to get the lucrative contract, a « commission » had to be paid to members of the Saudi government
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Saskatoon printing plant closing after Quebec company sells Sask. assets

Saskatoon printing plant closing after Quebec company sells Sask. assets | CARBIDE TV The Machinist Channel | Scoop.it
A Saskatoon printing plant will close its doors, throwing roughly 30 people out of work, after Transcontinental Inc. sells its Saskatchewan assets.
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A nuclear nightmare

A nuclear nightmare | CARBIDE TV The Machinist Channel | Scoop.it
It is past time for the world to get serious about North Korea’s nuclear ambitions
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Canada’s Factory Sales Fall in February

Canada’s Factory Sales Fall in February | CARBIDE TV The Machinist Channel | Scoop.it
Canadian factory sales fell far more than expected in February on a steep decline in motor vehicles and petroleum and coal products, suggesting a pickup in the country’s nonresource sector hasn’t yet fully materialized.
Bruce Hyde's insight:
Government Economists still stumped! "Great Forecast Bad Results" Docu Research 'Why Factories Shutdown'
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Feds spent almost $500Gs on Deloitte Bombardier study - PLANT

Feds spent almost $500Gs on Deloitte Bombardier study - PLANT | CARBIDE TV The Machinist Channel | Scoop.it
Canadian taxpayers spent almost $500,000 on a study of Bombardier before the Montreal company asked Ottawa for US$1 billion for its CSeries aircraft.
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Boeing cutting thousands of jobs in Washington State - Canadian Manufacturing

Boeing cutting thousands of jobs in Washington State - Canadian Manufacturing | CARBIDE TV The Machinist Channel | Scoop.it
Reports say Boeing is aiming for about a 10 per cent overall cut, which would mean about 8,000 positions in the northwestern U.S.
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Pie factory in Kentville to close, throwing 90 out of work

Pie factory in Kentville to close, throwing 90 out of work | CARBIDE TV The Machinist Channel | Scoop.it
The Sarsfield Foods frozen pie factory in Kentville will close, putting 90 people out of work. The company made the announcement to employees today.
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