GDX to close in Wabash, lay off over 700

GDX Automotive, Wabash County's second largest employer, will close on or about Nov. Read more
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Sharon

United States

#1 Oct 22, 2007
I'm from Wabash. This is another example of a union managing to destroy a company and run everyone out of a job. It's going to be devastating for the Wabash area.

“Back in Black”

Since: Feb 07

United States

#2 Oct 22, 2007
I'm from Wabash too. Growing up, it seemed like that place was always on strike. I don't know if the union "destroyed" the company, but Indiana has been bleeding manufacturing jobs for a long time. This will be terrible for Wabash. 700 jobs is a huge loss for a town of 12,000 people.
Bob

United States

#3 Oct 22, 2007
How is that global economy working out for you?
truthfool

Indianapolis, IN

#4 Oct 22, 2007
Working folks got no rights in that global economy. All the laws favor the Corporations that can pay the piper (politicos) we have the best Government money can buy.
Bryan

Shelbyville, IN

#6 Oct 22, 2007
Sad that people are losing their jobs but what do you expect when it comes to union shops closing.
Aaron

Indianapolis, IN

#8 Oct 22, 2007
Unions holding on with their fingertips to destroy a company.

No wonder private sector union membership nationally is down to 9% and falling.

Unions have the Midas Touch in reverse. Everything they touch turns to crap.

“Another Day, Another 75 Cents”

Since: Sep 07

Peru, IN

#9 Oct 22, 2007
Please explain how this:
"The Wabash Plain Dealer reports that local union leaders were notified about 3:30 p.m. Friday by owner Cerberus Capital Management. Cerberus also owns Chrysler, having purchased in the company from DaimlerChrysler AG in August 2007, the newspaper reported."
Explains this:
Sharon wrote:
I'm from Wabash. This is another example of a union managing to destroy a company and run everyone out of a job.
You do realize that GDX has been dwindling for years, right? You also understand the concept of a global marketplace, right? And I sincerely hope you understand the concept of corporate greed and golden parachutes, right?
Sorry to say it, but if you don't have some understanding of these concepts, you better learn the concept of "Would you like fries with that"?
Reader

New Palestine, IN

#10 Oct 22, 2007
The new jobs announcements don't seem to be coming out as quickly as the job layoff and business closing announcements.

Clearly we need more action and less PR hype from community leaders.
Broken Promises

New Palestine, IN

#11 Oct 22, 2007
Quit blaming everything on the employees of these companies.

Clearly the business discussions being made are not the result of employees hard work or union representation.

It has more to due with global sourcing, innovation, and companies wanting to off load the financial burden of domestic pension and health care promises made to long time team members.
Hometown

Huntington, IN

#12 Oct 22, 2007
I hate to read about that.. That's where I grew up and just another smaller town that keeps losing jobs..
Humh

Pryor, OK

#13 Oct 22, 2007
Clown in Town wrote:
Please explain how this:
"The Wabash Plain Dealer reports that local union leaders were notified about 3:30 p.m. Friday by owner Cerberus Capital Management. Cerberus also owns Chrysler, having purchased in the company from DaimlerChrysler AG in August 2007, the newspaper reported."
Explains this:
<quoted text>
You do realize that GDX has been dwindling for years, right? You also understand the concept of a global marketplace, right? And I sincerely hope you understand the concept of corporate greed and golden parachutes, right?
Sorry to say it, but if you don't have some understanding of these concepts, you better learn the concept of "Would you like fries with that"?
I sent Nancy Peloski a suggestion on her website. If an "American" company is receiving tax breaks and incentives and a portion of their operations are oversees, then it should only receive same percentage. Example- 30% of a company's workforce/facilities is in America then they should only get 30% of American tax breaks.
John

New Palestine, IN

#15 Oct 22, 2007
Reader wrote:
The new jobs announcements don't seem to be coming out as quickly as the job layoff and business closing announcements.
Clearly we need more action and less PR hype from community leaders.
Yea, I think Mitch needs to make another trip overseas. And stay there.
Steve

United States

#16 Oct 22, 2007
ACDC wrote:
I'm from Wabash too. Growing up, it seemed like that place was always on strike. I don't know if the union "destroyed" the company, but Indiana has been bleeding manufacturing jobs for a long time. This will be terrible for Wabash. 700 jobs is a huge loss for a town of 12,000 people.
They did seem to always be on strike. If your management is that bad, go get another job. IF they aren't that bad, live with less than ideal conditions or start your own business. We moved to Indy for better opportunities and better jobs. Some of the hometown folk won't move more than 5 yards from their parents so they are somewhat stuck. I'm glad my parents pushed me out of the nest!
Theres Hope

Warsaw, IN

#17 Oct 22, 2007
Maybe the workers can apply for jobs at the new Honda plant.
TBM

Birmingham, MI

#18 Oct 22, 2007
I too am from Wabash, work at GDX, my father too worked here. I grew up witnessing the periodic union management dishevel. I swore when I graduated college I'd never work there. Three years after graduation I was notified of a job opening. Now tewnty plus years later I too am looking for new employment. This I can tell you. Closing of this plant had nothing to do with the union people. Only the mismanagement and handling of upper level ownership management groups. The local union and local management group relationship is exemplarily. I for one am proud to have had the opprotunity to work with such a dedicated hard working and efficient work force, and wish all the best of luck going forward.
And oh, did I mention, one engineer looking for a good job.
Jim

Oceanside, CA

#22 Oct 22, 2007
Sharon wrote:
I'm from Wabash. This is another example of a union managing to destroy a company and run everyone out of a job. It's going to be devastating for the Wabash area.
You may live in Wabash but you are pretty clueless and obviously dont even read your local paper. USWA Local 626L made every attempt possible to keep the plant open. On Thursday before we got the news they even asked management if there was anything that they could do to persuade them to include us in the sale of the rest of GDX. The holding company Cerebus took a us to the bottom and then abandoned us. They could not negotiate new Ford contracts so they pulled the plug on all financing and for the past 4 or 5 months Ford has been paying our wages just so they couldkeep their factorys supplied until another source could be found.It was stated today in a meeting at the plant that GDX will not br getting any other Ford business so in effect ruined the contracts that the surviving plants have. You are can blame the union the employees even the town and state who all tried to keep the plant alive but if you dont blame the cause Cerebus holding company for mismanaging us you have no room to make any comment. Look Out Chysler your next!!!!!!
Jim

Oceanside, CA

#23 Oct 22, 2007
Terrible Reporting wrote:
Another great article! Could you please add the line in the story that tells me what the hell GDX makes specifically?
GDX makes window and door seals, noise dampers etc. We were one of the major manufacturers for these products for the automotive industry.
sorry

Indianapolis, IN

#24 Oct 22, 2007
Get trained and educated the best you can. Make sure your kids do the same, and don't trust the school to handle it all. Gotta look out for yourself.

“Another Day, Another 75 Cents”

Since: Sep 07

Peru, IN

#25 Oct 22, 2007
Humh wrote:
<quoted text>
I sent Nancy Peloski a suggestion on her website. If an "American" company is receiving tax breaks and incentives and a portion of their operations are oversees, then it should only receive same percentage. Example- 30% of a company's workforce/facilities is in America then they should only get 30% of American tax breaks.
That's a very innovative idea, unfortunately, many of the tax breaks given to business are given by the local state/county/city government entities. I believe you ought to send them the same email. I'd be interested in their response.

“Another Day, Another 75 Cents”

Since: Sep 07

Peru, IN

#26 Oct 22, 2007
Cerebus is an investment company.

How do investment companies make money? Either by investing for the long term or buying companies, selling off what they can at a profit, and then reselling the original skeleton of a company.

It's all about the money.

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