After a 41 year run Monaco Coach may be closing it's business.
Monday, Monaco terminated about 2000 employees, leaving about 145 workers remaining while management continues to try to obtain new financing or capital.
The outlook for Monaco is “bleak,” but reflects what’s going on in the RV industry, said analyst Frank Magdlen, research director of the Robins Group in Portland. [No Relation :-)]While that may be true, that RV's are a luxury item, there is still the cascading downward effect not only from the employees that lost their jobs, but also the business that supply parts and other support items necessary to this business.
“These are not items of necessity,” Magdlen said. “They’re a luxury item.”
Another example of just how Oregon legislators just don't get it, and think that the solution to the problem is to raise taxes.
1 comment:
While it's true these are "not items of necessity", the jobs are. This is a real disaster. Probably a lot of these poor workers came to Monaco from some other large plant that recently closed such as Hynix or Sony. It would be nice if the powers that be could use their energies to try to work with the owners of this company to convert the factory to make something more useful such as buses or other mass transit vehicles instead of buying them from Canada.
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