Volunteer Fabricators, Vacumet closing, more than 240 jobs lost

There are 20 comments on the Jun 15, 2009, The Knoxville News Sentinel story titled Volunteer Fabricators, Vacumet closing, more than 240 jobs lost. In it, The Knoxville News Sentinel reports that:

By Kristen Letsinger Originally published 11:50 a.m., June 15, 2009 Updated 11:50 a.m., June 15, 2009 More than 200 employees will be out of work by the end of July after two East Tennessee companies close their doors.

Join the discussion below, or Read more at The Knoxville News Sentinel.

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unknown

Morristown, TN

#1 Jun 16, 2009
what do you really about the morristown facility and why they cose their doors? moreover exactlty was this a buisness decision or a quality issue?
Teen2011

Bristol, VA

#2 Jun 22, 2009
Well my dad any step mom works there, and they both are loosing their jobs. And has a baby on the way. I dont think its right that they are closing. It doesn't make sense as to why they could not sign a few more contracts.
Rebel without a job

AOL

#3 Jun 26, 2009
Its as simple as this- Businesses "project" what they think they will make in a given year, if they don't reach that goal, then its posted as a "loss", no matter if they turned a profit or not. Its nothing more than greed, plain and simple.

Since: Jun 09

Morristown, TN

#4 Jul 1, 2009
its sad if all these people loose there job
humor

Knoxville, TN

#5 Jul 1, 2009
The business has to make more than it is dishing out or it will go under. It does not matter how many contacts they have if they do not have the money to buy the goods to fill the contacts. It's all about the bottom line. Greed is not involved if their is no money in the bank. You can't keep borrowing from Peter to pay Paul. One reason Paul is broke. I would be scared to look at the books of companies in this town. I just hope things turn for the better soon.
Stock Analyst

Knoxville, TN

#6 Jul 1, 2009
Rebel without a job wrote:
Its as simple as this- Businesses "project" what they think they will make in a given year, if they don't reach that goal, then its posted as a "loss", no matter if they turned a profit or not. Its nothing more than greed, plain and simple.
Maybe they did suffered a loss. It said in news "lack of business". They was struggling get customers end up on the losing side of business. Every business is suppose to have a projected goal. You don't run a business without a goal. If you fail to reach that goal and still made a profit, it will be posted as a profit. If you fail to reach the goal and end up on negative side, then you post a loss. If Volunteer had private investors, they will have to post a profit in order to keep investors pouring money in.(unless the investor is that stupid, but most likely your average private investment firm are usually smart. They stayed away from wall street) If they do not have any private investor, then what you said doesn't make no sense. I don't know any CPA in this town that are that unethical.

It doesn't say anywhere in the paper that the owner sold off all the asset then closed the door. If he did, it could be either greed or retirement.

I fail to see how you believe this is greed. Greed is laying off employees and keeping the business running while generating higher profit margin. If he laid off employees and his revenue started to decreased along with profit, that is not greed. He trying to keep company afloat with less employees.
Mckeon

Alpharetta, GA

#7 Jul 3, 2009
I worked for Vacumet. The Morristown facility was a union shop. That was a big part of the reason. Vacumet has been suffering from mis-management for a long time. It is a shadow of what it used to be. That won't be the last doors closing on that business.
clinch gal

White Pine, TN

#8 Jul 4, 2009
unions....ruined GM and car companies...getting breaks from the liberal gov't folks...the unions need to get knocked back down to what they were originally supposed to do..
Overtaxed

Duffield, VA

#9 Jul 4, 2009
clinch gal wrote:
unions....ruined GM and car companies...getting breaks from the liberal gov't folks...the unions need to get knocked back down to what they were originally supposed to do..
Unions did not ruin this company. "Free Trade" policies ruined the companies that shuttered their businesses in this county. No company can compete with the labor costs of countries like Mexico and China. We have lost Morell, Cawood and now Volunteer and these companies were NOT saddled with high wage or benefit packages. If they could not survive here, no company can survive and there is little hope of attracting new industries to our county. The only businesses that will survive will have to provide a service that can not be "outsourced". Therefore, service businesses and county government are the ONLY employers left standing.
buku

Oak Ridge, TN

#10 Jul 4, 2009
i think our future is plasket.lets think positive.its our most likely hope.my thoughts.
Stock Analyst

Knoxville, TN

#11 Jul 4, 2009
Overtaxed wrote:
<quoted text>
Unions did not ruin this company. "Free Trade" policies ruined the companies that shuttered their businesses in this county. No company can compete with the labor costs of countries like Mexico and China. We have lost Morell, Cawood and now Volunteer and these companies were NOT saddled with high wage or benefit packages. If they could not survive here, no company can survive and there is little hope of attracting new industries to our county. The only businesses that will survive will have to provide a service that can not be "outsourced". Therefore, service businesses and county government are the ONLY employers left standing.
Union and taxation are reason why we go oversea. If you owned a business that employed union workers and you was producing goods to make a PROFIT, you would understand.
Overtaxed

Duffield, VA

#12 Jul 4, 2009
Stock Analyst wrote:
<quoted text>
Union and taxation are reason why we go oversea. If you owned a business that employed union workers and you was producing goods to make a PROFIT, you would understand.
Where were the unions in Volunteer, Morrell OR Cawood ? There were none. These companies were not known for generous benefit packages. This is a right to work state. No shop can be closed in Tennessee yet they are closing their doors.
Stock Analyst

Knoxville, TN

#13 Jul 5, 2009
I wasn't referring to Volunteer. I was simply saying unions and heavy taxation is what sends companies oversea. Not free trades.

Free trade is suppose to be agreement of companies flowing goods and capital between countries without government interference. However, our government continues to interfere with our economy.(vote small government next time) See if we didn't have such high taxes and unions acting like bunch of thugs. Oversea businessmen would like to bring jobs to America, because he can exploit America labor skills as apposed to his own country. Or his government will not allow him to operate such operation in his country. Believe it or not free trade has expand our economy flowing more money into hands of consumers. Without free trade our economy will hardly grow which keeps unemployment up.

But the free trade is hardly working to what the agreement originally state. There to much government interfere right now for it to really run it course. If it lack government interference we would be better off. There are CPA who specialized in business consultant and lobbyist who would go oversea and bring businesses into America.

Also, there is a tax exemption where a foreigner who comes to America can open up a shop tax-free. This was government attempt to bring foreigner into America to open business.

All economy has recession, depression, valley, growth, et cetera.

I'm leave it short for now, because even if I attempt to show more proof you will continue to be arrogance and say I'm wrong.
Overtaxed

Duffield, VA

#14 Jul 5, 2009
Stock Analyst wrote:
I wasn't referring to Volunteer. I was simply saying unions and heavy taxation is what sends companies oversea. Not free trades.
Free trade is suppose to be agreement of companies flowing goods and capital between countries without government interference. However, our government continues to interfere with our economy.(vote small government next time) See if we didn't have such high taxes and unions acting like bunch of thugs. Oversea businessmen would like to bring jobs to America, because he can exploit America labor skills as apposed to his own country. Or his government will not allow him to operate such operation in his country. Believe it or not free trade has expand our economy flowing more money into hands of consumers. Without free trade our economy will hardly grow which keeps unemployment up.
But the free trade is hardly working to what the agreement originally state. There to much government interfere right now for it to really run it course. If it lack government interference we would be better off. There are CPA who specialized in business consultant and lobbyist who would go oversea and bring businesses into America.
Also, there is a tax exemption where a foreigner who comes to America can open up a shop tax-free. This was government attempt to bring foreigner into America to open business.
All economy has recession, depression, valley, growth, et cetera.
I'm leave it short for now, because even if I attempt to show more proof you will continue to be arrogance and say I'm wrong.
I see nothing in your post that is "proof" of anything. You stated your opinion just as I stated mine. You are certainly entitled to yours . Personally, I prefer to compete with American workers and states to attract jobs. I do not wish to engage in a contest to see how low we can get American wages to go,in order to compete with Mexican workers or Communist Chinese workers. My take on this is that we need to scrap all the "free trade" agreements and replace them with FAIR TRADE agreements which take into account a living wage for American workers and penalize companies that "outsource" our jobs to cheap foreign labor markets for greater profits.
Stock Analyst

Knoxville, TN

#15 Jul 5, 2009
It not the cost of labor, it the total cost when you factor in all the taxes.
owner

Morristown, TN

#16 Jul 5, 2009
I see the problem being that the Americans are always wanting to keep up with the Jones'. No one here is just happy with what they have. If they see their boss is making a percent more profit, well guess what they want 50% of that. I have to constantly keep my sales hid from everyone of the employees because I had them come to me and say that I can afford to pay them more, although they never get to see the bill I pay. Lucky for me I had people that owned their own business and knew what it took to run a place and set them straight. Now that things are slow and I don't have enough income coming in, where do they think the cash is coming from to pay their salaries, The Money Fairy? No the extra cash that I was suppose to make. To make this short We are all greedy here and we all want a piece of the pie EVEN IF WE DO NOT WORK! You get what you get if you work hard and have good work ethics and treat your job like it was your own because that boss may think twice about letting you go when times get tough.
owner

Morristown, TN

#17 Jul 5, 2009
As for the Fair trade agreement. It did hurt our economy. Jobs went overseas because it got too expensive and hard to have a business here. Look they raised Minimum wages again, Why? Jobs were lost to less paying workers because of Unions, Taxes, enviroment controls, safty controls, and alot more BS just so that everyone can make a dollar by doing nothing but sitting behind a desk in an air-conditioned office. There are more companies popping that is making it harder for the small business to keep up with the larger ones with all their rules. It cost a small company about 5% of the profits just for the dues and subscription for the software that they got to use for transportation, invoices, sales and many other problems to us. These people who invent these softwares brainwashes the large companies to think that it make it easier for their company to do business but in reality is a nightmare for the smaller ones and as I see they are not accurate either and have many faults. These are the some of the reasons to go overseas and the prices of american products going up.
Just my opinion

Mcdonough, GA

#18 Jul 14, 2009
clinch gal wrote:
unions....ruined GM and car companies...getting breaks from the liberal gov't folks...the unions need to get knocked back down to what they were originally supposed to do..
Just my opinion

There is a lot of people who needs to be knock back down to the level of the job they were hire for. Our Politician, Governments, C.E.O, President, and many others. It is us the tax payer who makes these people pay checks. If us tax payers who makes the Politician and Governments pay check, would not pay tax at the end of the year. The world might just get back to what it was. THE GOVERNMENT CAN NOT PUT EVERYONE IN JAIL…. They don’t have room for criminals now. And the ones in jail don‘t want to work, that why most are their. So if we all would stick together like our forefathers done to get our freedom, the government might get the picture and get off their A?? and do the job they were put in their for. COME ON PEOPLE WAKE UP. WHO”S GETTING RICHER AND WHO‘S GETTING POORER? AND WHO IS THE GOVERNMENT DISHING BAIL OUT TOO? Its sure not the ones losing their homes and jobs. If the government had given us the tax payers the bail out money to pay off our mortgage’s and death. The economy would already be in better shape. But the government gave the bail out to the companies that held their money. The government pull their own self out of a whole, at the people expense. The first part of 2000 most of us who paid taxes, paid 33% of our paycheck. GUESS WHAT % OF YOUR CHECK NOW GOES TO TAXES!!!!! SOON THE GOVERNMENT WILL BE GETTING OVER 50% OF YOUR PAY CHECK…. WERE ALREADY WORKING FOR THE GOVERNMENT. THE GOVERNMENT IS SUPPOSE TO BE WORKING FOR US… Their something very wrong with our system. And if we keep letting the government raise our taxes and call it get back at the end of the year. there is going to be more of us in the streets. Riots or on their way if we keep letting the government control our pay checks. Our government is paid more then what the job is worth. And what do they do for that payment. NOTHING BUT PUT HARD WORKING PEOPLE IN THE STREETS.. Get the government pay down to what the average working person makes, and we might see a better life for all of us. And don’t even let me start on our Lawyers, Doctors, Health, Insurance and Medical. These people need a job over haul also. But this is just my opinion.
Scarlett

Bowie, MD

#19 Jul 14, 2009
Taxes, Taxes, and Unions are killing corporate America. We tax our corporations to death, and then the Unions come in for their share. Our federal goverment in Washington is NOT for small businesses, rather large. Small business provides the most jobs. the Unions have outlived their worth. Obama is very busy paying back the Unions for contributing to his campaign. We have a criminal in the white house, and his cronies. They are killing corporate America. Vote them out. Pay attention when you vote.
Wondering

Morristown, TN

#20 Jul 14, 2009
Stock Analyst wrote:
It not the cost of labor, it the total cost when you factor in all the taxes.
Do you know if the Mayor and city commissioners offered any incentives which could have lowered taxes for these businesses? You seem to be pretty knowledgable about these kinds of things. Can negotiations locally help businesses remain local instead of having to transfer jobs to China or close down?

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