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waggin

waggin

moving on ain't easy if you drive a Ford :p
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Crane Cams shuts down, workers laid off​
By JIM WITTERS
Senior Business Writer ​
DAYTONA BEACH — Crane Cams, a 56-year-old auto parts manufacturer, closed its doors this week and laid off its employees, a worker said today. ​
The news took Volusia County’s top economic development officer by surprise. City, county and state officials were working with Crane Cams and officials from its New Jersey parent, Mikronite Technologies, to keep the company open and in the community. ​
“We were trying to help them through this transition,” said Rick Michael, Volusia County economic development director. “They were considering a transfer of ownership. We were not expecting any closure.” ​
An automated voice mail system at Crane’s plant on Fentress Boulevard announced at midday today the company was closed and suggested calling back during business hours, 8 a.m. to 5 p.m. A call to Mikronite’s New Jersey offices produced similar results. Six cars sat in the parking lot early this afternoon at the local plant, which employed 220 just three years ago. ​
Inside the lobby, a reception desk sat empty. A call from the lobby phone got an answer from Dennis Burgess, who declined to comment and said no one at the plant could provide information. ​
In the parking lot, 14-year employee Ronald Dorn was leaving the plant for what he believed was the last time ​
He said workers were told during the past week that layoffs were likely, but he didn’t expect the plant to close. ​
Mikronite received approval in 2006 to receive tax rebates from the state and the county amid discussion about moving its New Jersey operations here. But the company ended its contract with the state in 2008 due to nonperformance, Michael said. ​
“Crane has gone through a series of small layoffs recently,” he said. ​
Crane Cams and Crane Technologies Group were founded by Harvey J. Crane Jr. in 1953 as Crane Engineering Inc. in Hallandale. The company is well known in high-performance and racing circles for its line of camshafts and engine valve train components. ​
In 1979, Crane Cams became an employee-owned company. Some operations moved to Daytona Beach in 1981, with the remainder of the operation and employees relocating here in 1985. ​
Mikronite, an industrial technology firm, bought Crane in 2006. ​
In March 2007, Mikronite sold its property on Fentress to STAG Capital Partners of Boston, then signed a 10-year lease. ​
 
Very sorry to hear this about another American manufacturer. I feel truly sorry for all the workers who lost their jobs.
The automotive biz as a whole is in the :toimonst:
 
I herd it here first, I hope they take care of the folks that made these parts for us the best they can, And not just say this is all we can do. sorry to hear this waggin
 
was just passing on the news,sad,sad....gettin scary for more and more people out there losing their jobs
 
Yep, that sucks. I just recently lost my job as well. Plus a lot of permanant State employee's here in Washington are getting laid off. This economy is really in the crapper.
 
Losing Crane Cams is blow to this entire industry, we may never know exactly what happened but I'm sure the Owners lost many nights of sleep before making this final decision. I have Harvey Crane's home phone number, I hope he's still alive I haven't talked to him in 2-3 years, I'll try him today and see what his take is on his old company.

I personally know of at least 6 more well know names that are in serious financial trouble, inventory's of raw materials and finished goods are choking them, Bank obligations and interest rates are cutting deep into profitability. All resulting in the loss of jobs for many employees....and so goes the ripple effect to our economy and this industry.

Think about this when you make your next purchase, do you really want to buy that crank, rods or carburetor from that Foreign based manufacturer?

We've all been playing Monopoly, but the properties, utilities and railroads are all owned by the Chinese banker, we keep paying the rent on Park Place but then all of a sudden we run out of cash...and we're out of the game. Now we're dipping into the Community Chest trying to get enough back to refinance for the next roll of the dice.

Those of you who have known me over the years are very familiar with my preaching and ranting about buying all this Foreign made stuff and how it's killing our Industry...the day of reckoning is here, Crane, Holley's could be next on the chopping block and there a bunch more in the que for Bankruptcy protection and plant closures.


Lord, Please give me one more big boom, I promise I won't piss it away this time.
 
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