Sign o’ the Times
Posted by SCapozzola on September 19th, 2007In yet one more “same old, same old” news item, there’s an article in today’s Providence Journal about a longtime Pawtucket, RI factory that will be closing its doors and moving operations to India. Following a decision by parent company Tecumseh Products to move offshore, Pawtucket’s Vitrus Inc. will be closing its doors and laying off its workers.
According to the Providence Journal’s Benjamin Gedan, Vitrus’ 50,000-square-foot plant is located “where America’s Industrial Revolution began.” Unfortunately, and if present trends continue, it will now be one of the places where America’s industrial age ends.
Manufacturing is often viewed, incorrectly, as simply an assembly line, nuts-and bolts, operation. What many Americans don’t realize is that modern manufacturing is unusually hi-tech, with most line workers operating state-of-the-art, computerized systems that form and shape parts to tolerances of less than one thousandth of an inch. As U.S. factories close, these valuable skills are being lost, and may never be replaced.
In other news, ManufactureThis commented yesterday on the dollar’s continuing fall against the Euro. At the close of trading yesterday, the Euro reached a record $1.3971. It remains to be seen when, and if, the Euro will break the psychological benchmark of $1.40.
The ongoing outflow of U.S. capital due to our continuing, massive trade deficit is exerting downward pressure on the dollar in all the wrong places. This is but one troubling offshoot of flawed U.S. trade policy. If jobs and production continue to move offshore, the country will continue to lose productive assets.
A final note: Keep checking both this blog and the AAM website for a big announcement in the near future about our plans to help strengthen U.S. manufacturing.
##
