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Metalworking (rec.crafts.metalworking) Discuss various aspects of working with metal, such as machining, welding, metal joining, screwing, casting, hardening/tempering, blacksmithing/forging, spinning and hammer work, sheet metal work. |
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#1
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Oilite Bearings go Bust
A crosspost from uk.rec.models.engineering, but of interest I think:
On Sat, 06 Dec 2008 12:34:22 +0000, Peter Neill wrote: Just spotted this in the local rag: http://tinyurl.com/6hp39r Olite Bearings Ltd, formerly part of the maganese Bronze Group went into administration on Monday. Like everything else, demand is low right now, and I suppose there is probably too much competition from lower cost areas. Peter |
#2
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Oilite Bearings go Bust
Olite Bearings Ltd, formerly part of the maganese Bronze Group went into administration on Monday. Peter Manganese Bronze Holdings used to own Norton motorcycles when they made the Commando models, I think. Jordan |
#3
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Oilite Bearings go Bust
We replaced windows this year. We have a warranty for 50 years from
the manufacturer of these windows called Republic. Republic went bust this month. The value of the warranty, probably was not that much anyway. -- Due to extreme spam originating from Google Groups, and their inattention to spammers, I and many others block all articles originating from Google Groups. If you want your postings to be seen by more readers you will need to find a different means of posting on Usenet. http://improve-usenet.org/ |
#4
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Oilite Bearings go Bust
On Sat, 06 Dec 2008 22:50:00 -0600, Ignoramus6012
wrote: We replaced windows this year. We have a warranty for 50 years from the manufacturer of these windows called Republic. Republic went bust this month. The value of the warranty, probably was not that much anyway. ================ ------------- Jesse Jackson meets workers occupying factory CHICAGO – The Rev. Jesse Jackson has begun meeting with the hundreds of workers occupying a Chicago factory that they say gave them just three days' notice before closing. The workers say they won't leave the Republic Windows and Doors plant until they are assured that they'll receive their severance and vacation pay. Jackson met with the workers Sunday morning. His Rainbow PUSH Coalition says he's trying to help get Republic's creditor, the Bank of America, to reinstate the company's line of credit and save around 300 jobs. Union organizer Leah Fried says the window manufacturer can't pay its employees because the Bank of America won't let them. The bank's said it isn't responsible for Republic's financial obligations to its employees. =============== for article see http://news.yahoo.com/s/ap/20081207/...krTRo_Ff1vzwcF Note that BoA was one of the TARP recipients, and that Republic went down, largely because their credit line was cut off. So much for the "trickle down" rescue theory. ---------- snip Bank of America, which rescued Merrill Lynch via a takeover agreement in September, has had about two-thirds of its share price shaved off since Sept. 12. At $11.47, it sells for little more than a third of its book value per share on Sept. 30, though goodwill and other intangibles make up perhaps two-thirds of that book value. snip ------------- for complete article see http://www.smartmoney.com/news/ON/?s...21-000795-1655 also see ---------- snip Company: Bank of America Corp. (BAC) Participation: The U.S. Treasury said it will inject $15 billion in Bank of America. Date of disclosu Oct. 29 Notes: n/a snip ----------- for complete article click on http://money.cnn.com/news/newsfeeds/...9_FORTUNE5.htm Unka' George [George McDuffee] ------------------------------------------- He that will not apply new remedies, must expect new evils: for Time is the greatest innovator: and if Time, of course, alter things to the worse, and wisdom and counsel shall not alter them to the better, what shall be the end? Francis Bacon (1561-1626), English philosopher, essayist, statesman. Essays, "Of Innovations" (1597-1625). |
#5
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Oilite Bearings go Bust
Am I missing something (again) or --- It is beginning to look like we are going to "bail out" any business that makes money by loaning money, but not any business that makes money by making products. WTF? |
#6
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Oilite Bearings go Bust
On Sun, 07 Dec 2008 14:47:53 -0600, Richard
wrote: Am I missing something (again) or --- It is beginning to look like we are going to "bail out" any business that makes money by loaning money, but not any business that makes money by making products. WTF? ======= Indeed, and IMNSHO this is the root of not only the current economic problems but also many of our social/cultural problems. While there is *SOME* net value added in most financial transactions, it is nowhere near the value added in manufacturing such as the conversion of sand to computer chips or iron ore to steel and then into cars. While some financial transactions are vital in any modern economy [e.g. foreign exchange], we have allowed the financial tail to not only wag the dog, but shake the entire house until it is about to fall down. In the period 2006-2007 about *ONE_HALF* of all reported corporate profits in the US were generated by or through financial transactions. In GM's case, the only division making money in this period was GMAC, while their manufacturing operations were all losses. Rationally, all available capital and management attention was poured into the financial operations as these were seeming generating much higher returns during the "bubble years." A major problem is that while "financial engineering" appeared to be generating major "profits," on closer examination [i.e. when the ship hit the sand] these proved to be "fools gold." A final thought -- even with no guarantee your Republic windows are keeping the wind and rain out, and represent a far better value for the money that Enron, World-Com, [and as is increasing likely GM] stocks and/or un collateralized bonds. Unka' George [George McDuffee] ------------------------------------------- He that will not apply new remedies, must expect new evils: for Time is the greatest innovator: and if Time, of course, alter things to the worse, and wisdom and counsel shall not alter them to the better, what shall be the end? Francis Bacon (1561-1626), English philosopher, essayist, statesman. Essays, "Of Innovations" (1597-1625). |
#7
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Oilite Bearings go Bust
Get in touch with the A.G. in your state and ask who took
over the warranty. Someone might have bought them out and those don't ask won't get. AG might be able to secure funds to rebate some day. Martin Ignoramus6012 wrote: We replaced windows this year. We have a warranty for 50 years from the manufacturer of these windows called Republic. Republic went bust this month. The value of the warranty, probably was not that much anyway. |
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