I work for a Private Equity firm that shut down a factory today to consolidate operations to another plant in Minnesota because of "the economy". Truthfully, this division was more profitable than it has ever been. We were able to increase our margins at the Gross margin level by 4% abd EBITDA level by 3%, which is stupid good for a company that had no movement in revenue... But still, 145 people lost their jobs today. Its a very sad day for me, Ive done everything I can to try and prevent this. The problem is that when people have an equity position, they can sway things anyway they want. You can look at a glass half full, half empty or half full of something I dont want. It sucks, a lot of really good people are now unemployed.
A profitable factory (which I assume actually produced things)? That's ****ed up. Oh well. Borrow and spend, borrow and spend...it's the key to wealth. Screw things like exports and GDP, and making stuff. We can buy it cheap from China after we borrow the money.
