Posted on 01/04/2013 7:12:10 AM PST by Second Amendment First
Lincolnton Furniture Company closed abruptly Thursday just one year after it was hailed by President Barack Obama as an example of the recovering U.S. economy.
Furniture-making operations stopped indefinitely and only a few people will remain employed moving forward, company financial officer Ben Causey said.
“I don’t know where it’s going to go exactly; we’re still evaluating our situation,” Causey said. “We just didn’t have any choice at this point.”
The company was not receiving the orders it needed to sustain its operations, Causey said.
“We needed more orders is really what it boiled down to,” he said. “We thought they would materialize.”
Owner Bruce Cochrane, a fifth generation furniture-manufacturer, formed the company in 2011 with a $5 million investment and the hope he could make a profit off people who wanted to buy furniture made in America.
It was a move that caught the attention of North Carolina officials and those in the White House. Last year, Cochrane sat with the first lady during Obama’s 2012 State of the Union Address. He also joined the president and other business leaders in a discussion about how to create more jobs at home.
Attempts late Thursday to reach Cochrane were unsuccessful. Causey said company officials were thankful for the support they received from the community over the past year-and-a-half.
Jerry Cochrane, Bruce Cochrane’s uncle and former Lincoln County Commissioner, learned about the company’s closing Thursday.
“I was surprised that they stopped the operation this quickly,” he said. “But starting a furniture business now is very difficult in this country.”
Last week, the Gaston Gazette recognized Bruce Cochrane as one of its “persons of the year” in 2012 for starting the furniture-manufacturing in his hometown.
“Everybody was rooting for us and wanted us to succeed,” Causey said.
Read more here: http://www.miamiherald.com/2013/01/04/3167317/lincolnton-furniture-company-praised.html#storylink=cpy
All that money that people could have used to pay for furniture is going to pay for Obamacare taxes and taxes to support our ever-growing government.
Well at least we still have Solyndra . . . oops.
Everything he touches, every move he makes will be screwing you.
Maybe the owner can get some of Obama’s “stash”.
uhhh.....just going out on a limb here....people on unemployment do not buy new furniture?
He shows up for a photo op at a Bulldozer plant. A few months later, they close. He does another at Solyndra, and hustles them a big loan — which they promptly swindle for the big shots, lay everybody off, and close. He photo ops at some machine shop. A couple of months later, THEY close, and everybody’s out fo work. There are many more such examples.
When are we finally going to call this what it is:
The Curse Of Obama?
For a company of this size the cost of the hawaii vacation of obamaomau would have kept it running.
What they DON’T want to say is that, yes it was slow orders, but it was and is also-— the mandatory tax structure funding obamaomaucare. That and the reality, if this is an S corp that the cliff deal put them in greater personal jeopardy— the owners. Will check into bank financing. And, don’t forget— every ONE of these “kissed” companies has failed, and that hedge fund people make MONEY on the ASSUMPTION of loss— shorting the country is how they make money. It is the way it is— and they support this ass.
Let’s get this cleared up. This company continues to be in business. The company took its manufacturing to China some time ago, and has repped their products at the furniture marts in recent years. This was a “hey can we get some money” crony capitalism effort through obamaomau.
The “newly formed” company in the US was “started” in 2011 and then blessed by a visit from obamaomau in Jan 2012 to tout “insourcing”. The “company” in America, American made is only the one facility in Lincolnton, and NOT a new company in any sense. What this WAS was “obamaomau money” to subsidize a company that had no plan for sales, and a completely downturned REAL economy where people would rather spend their money on real wood heirlooms (in this all hardwood upmarket niche) than buy new made stuff. Plain and simple.
The family continues to make furniture in China, pretty sure, and gets orders overseas for that furniture. So the losers are the WORKERS— the ones who voted for obamaomau.
And, don’t be surprised if there is a obamaomaucare WAIVER on file for this “company”.
Link to their site, with links to other news items, including the China move: http://www.lincolntonfurnitureco.com/newscontact-us.html
...and now he’s going to bring that same magic touch to health care!
Stay far away from Obama if you want your business to have any chance of surviving Obama’s Depression.
He is the anti-Midas.
Yeah...I was just wondering. This Obama guy...does everything he touches really turn to a steaming pile of crap? Or is it just my imagination? Cuz it really seems that way to me.
[SNIP] ... [PASTE]
He’s King Midas with a curse
He’s King Midas in reverse
...
He’s not the man to hold your trust
Everything he touches turns to dust
In his hands
Nothing he can do is right
He’d even like to sleep at night
[I bet Bronco ‘Bama has no problem sleeping, though]
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.