Read it and weep America....Your middle class is going to be another countries middle class and you will be out of work and your families starving while you as a taxpayer pay for it.
Globalization has been brutal to midwestern manufacturers like the Paper Converting Machine Co. For decades, PCMC's Green Bay (Wis.) factory, its oiled wooden factory floors worn smooth by work boots, thrived by making ever-more-complex equipment to weave, fold, and print packaging for everything from potato chips to baby wipes.
But PCMC has fallen on hard times. First came the 2001 recession. Then, two years ago, one of the company's biggest customers told it to slash its machinery prices by 40% and urged it to move production to China. Last year, a St. Louis holding company, Barry-Wehmiller Cos., acquired the manufacturer and promptly cut workers and nonunion pay. In five years sales have plunged by
In: News, Citizen Journalism
Tags: Globalization, corporate, america, taxpayer, jobs, economics, industry, work, force, GDP, foreign, interests, out, sourcing,
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