ArvinMeritor Swings to Loss on Restructuring Costs, Weakness in...

TROY, Mich. Auto parts maker ArvinMeritor Inc. said today it swung to loss in the fiscal third quarter primarily due to ongoing restructuring costs and declines in the North American truck market.

[Dennis Justice]

And just last month, the Town of Fletcher, facing a number of potential wrongful termination lawsuits involving their arrogant and incompetent police chief, said they were looking into reneging their 12 year deal with ArvinMeritor not to annex them in exchange for 93 acres of land that was supposed to be developed for a park.

That park could have had a gym and certainly soccer fields, doubly important since Fletcher took out all the fields at Fletcher Community Park to put in soccer fields.

How can anyone NOT think the possible $250,000 yearly tax revenue is to cover the potential losses from these lawsuits? The first lost case is the proverbial tip of the iceberg.

This after a tax increase.

This after the lack of development of that parkland.

This after no development of the "Heart of Fletcher," which is supposed to be our critical downtown business district.

Yeah, let's backstab ArvinMeritor and annex them while times are tough. What's an extra $250,000 a year! What a SWELL idea!

[Daniel Ems]

Agreed! As a resident of Fletcher and an Employee of the ArvinMeritor Fletcher Facility I must say I am saddened to live in such an atrocious town. ArvinMeritor is one of the top paying manufacturing plants in Western North Carolina, employing several hundred permanent and temporary employees. Fletcher's greed becomes a direct threat on our jobs. Why pay $250,000 a year in taxes when a town a state over is willing to pay millions in incentives to bring the factory to their doorstep? If Fletcher continues its ignorance towards ArvinMeritor, than it can prepare for another lawsuit. One brought on by the FORMER employees of ArvinMeritor.