machinehead61
Titanium
- Joined
- Feb 8, 2004
- Location
- Rochelle,IL,USA
A major fastener company in Rockford went bankrupt this month:
Rockford Products Sold
A sad comment which I didn't know about:
"Rockford Products started business in 1929 as Rockford Screw Products Co.
No matter what, the final resolution of the bankruptcy is bad news for stock-holding workers at the employee-owned company. Because the Chapter 11 proceeding is a sale of Rockford Products’ assets to the private equity firm, their company stock will soon be essentially worthless."
Rockford is in Illinois' 16th congressional district which is "represented" by one of the biggest free trade Congressmen in the entire Congress, Don Manzullo.
Mr. Manzullo has voted for every single trade bill in this list:
HOUSE VOTES
NAFTA (H.R. 3450) November 17, 1993 roll call 575
Passed 234-200
Republicans 132-43
Democrats 102-156
GATT/WTO (H.R. 5110) November 29, 1994 roll call 507
Passed 288-146
Republicans 121-56
Democrats 167-89
WTO Withdrawal (House Joint Resolution 90) June 21, 2000 roll call 310
Rejected 56-363
Republicans 33-182
Democrats 21-181
Trade Promotion Authority (H.R. 3009) July 27, 2002 roll call 370
Passed 215-212
Republicans 190-27
Democrats 25-183
U.S.-Singapore Trade (H.R. 2739) July 24, 2003 roll call 432
Passed 272-155
Republicans 197-27
Democrats 75-128
U.S.-Chile Trade (H.R. 2738) July 24, 2003 roll call 436
Passed 270-156
Republicans 195-27
Democrats 75-128
CAFTA (H.R. 3045) July 28, 2005 roll call 443
Passed 217-215
Republicans 202-27
Democrats 15-187
Independent 0-1
U.S.-Oman Trade (H.R. 5684) July 20, 2006 roll call 392
Passed 221-205
Republicans 199-28
Democrats 22-176
Independent 0-1
From Congressman Manzullos' web site comes this:
Manzullo Export Bill
"U.S. Rep. Don Manzullo (R-Egan) today joined three of his House colleagues in introducing bipartisan legislation that would modernize the federal government’s inefficient export control policy by strengthening national security and helping American companies sell more defense-related goods and services overseas to our allies."
Since Manzullo took office, Rockford, "the fastener capital of the world" has lost 15,000 manufacturing jobs.
In "Illinois in the Second World War" Volume Two, The Production Front, the Rockford companies of Barber-Coleman, Ingersoll, and Rockford Machine Tool Company were listed as significant contributors to the $684,000,000 of Rockfords' war production contribution towards the victory in 1945.
Ingersoll had 3 units, two in the US, one in Germany. When it went bankrupt, Ingersoll International sold Ingersoll Production Systems (IPS, Rockford, Ill.), to Dalian Machine Tool Group Co., Ltd. (Dalian, P. R. China), which then acquired Ingersoll CM Systems in Michigan in 2003.
Ingersoll Maschinen und Werkzeuge (Ingersoll Germany), was sold to Global M&A members, Brown Gibbons Lang & Co (BGL), based in Cleveland and Chicago, and InterFinanz, based in Dusseldorf, for US$79m in 2004.
China DMT bought its crankshaft manufacturing factory in 2003.
The Rockford Machine Tool Company is gone.
The closed Barber-Coleman plant on the decaying west side is now a giant empty building.
Not mentioned is the complete destruction of the Rockford furniture industry that supplied desks, chairs, filing cabinets, etc. for the war effort.
Today, Rockford Illinois lacks the industrial capacity to fight World War II.
This is our free trade Congressman's idea of "national security".
Steve
Rockford Products Sold
A sad comment which I didn't know about:
"Rockford Products started business in 1929 as Rockford Screw Products Co.
No matter what, the final resolution of the bankruptcy is bad news for stock-holding workers at the employee-owned company. Because the Chapter 11 proceeding is a sale of Rockford Products’ assets to the private equity firm, their company stock will soon be essentially worthless."
Rockford is in Illinois' 16th congressional district which is "represented" by one of the biggest free trade Congressmen in the entire Congress, Don Manzullo.
Mr. Manzullo has voted for every single trade bill in this list:
HOUSE VOTES
NAFTA (H.R. 3450) November 17, 1993 roll call 575
Passed 234-200
Republicans 132-43
Democrats 102-156
GATT/WTO (H.R. 5110) November 29, 1994 roll call 507
Passed 288-146
Republicans 121-56
Democrats 167-89
WTO Withdrawal (House Joint Resolution 90) June 21, 2000 roll call 310
Rejected 56-363
Republicans 33-182
Democrats 21-181
Trade Promotion Authority (H.R. 3009) July 27, 2002 roll call 370
Passed 215-212
Republicans 190-27
Democrats 25-183
U.S.-Singapore Trade (H.R. 2739) July 24, 2003 roll call 432
Passed 272-155
Republicans 197-27
Democrats 75-128
U.S.-Chile Trade (H.R. 2738) July 24, 2003 roll call 436
Passed 270-156
Republicans 195-27
Democrats 75-128
CAFTA (H.R. 3045) July 28, 2005 roll call 443
Passed 217-215
Republicans 202-27
Democrats 15-187
Independent 0-1
U.S.-Oman Trade (H.R. 5684) July 20, 2006 roll call 392
Passed 221-205
Republicans 199-28
Democrats 22-176
Independent 0-1
From Congressman Manzullos' web site comes this:
Manzullo Export Bill
"U.S. Rep. Don Manzullo (R-Egan) today joined three of his House colleagues in introducing bipartisan legislation that would modernize the federal government’s inefficient export control policy by strengthening national security and helping American companies sell more defense-related goods and services overseas to our allies."
Since Manzullo took office, Rockford, "the fastener capital of the world" has lost 15,000 manufacturing jobs.
In "Illinois in the Second World War" Volume Two, The Production Front, the Rockford companies of Barber-Coleman, Ingersoll, and Rockford Machine Tool Company were listed as significant contributors to the $684,000,000 of Rockfords' war production contribution towards the victory in 1945.
Ingersoll had 3 units, two in the US, one in Germany. When it went bankrupt, Ingersoll International sold Ingersoll Production Systems (IPS, Rockford, Ill.), to Dalian Machine Tool Group Co., Ltd. (Dalian, P. R. China), which then acquired Ingersoll CM Systems in Michigan in 2003.
Ingersoll Maschinen und Werkzeuge (Ingersoll Germany), was sold to Global M&A members, Brown Gibbons Lang & Co (BGL), based in Cleveland and Chicago, and InterFinanz, based in Dusseldorf, for US$79m in 2004.
China DMT bought its crankshaft manufacturing factory in 2003.
The Rockford Machine Tool Company is gone.
The closed Barber-Coleman plant on the decaying west side is now a giant empty building.
Not mentioned is the complete destruction of the Rockford furniture industry that supplied desks, chairs, filing cabinets, etc. for the war effort.
Today, Rockford Illinois lacks the industrial capacity to fight World War II.
This is our free trade Congressman's idea of "national security".
Steve