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insider 
Group: Members
Posts: 1
Joined: Apr. 2004
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Posted on: Apr. 23 2004,9:55 pm |
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The story only tells part of the story, here is what the story will not tell you:
Nearly all these jobs are being relocated to various Mankato Taylor facilities. Most are not high salary positions, but a modest number are. This is not a huge high profile story because Taylor wants to keep this quiet even though it is a boon for Mankato. Taylor does not want the bad publicity of the Connecticut job losses. This is the second time in about 10 years Taylor has bought a company and relocated it to Mankato. But on both occasions he has offered the workers from the acquisition jobs in Mankato and he has had takers. Taylor Corporation does seem to be shifting into acquisition growth mode again taking advantage of some of the past years economic conditions.
Not a good situation for the workers in Connecticut (however the company was already bankrupt before Taylor Corporation became involved) but it is a great addition of jobs to the city of North Mankato.
April 23, 2004, 2:50 AM EDT
HARTFORD, Conn. -- About 325 Connecticut jobs will be eliminated as a Minnesota firm completes its acquisition of New Hartford-based stationery company Executive Greetings, company president George Ittner said Thursday.
Executive Greetings sought bankruptcy protection last year. Minnesota-based Taylor Corp. won an auction last month to buy the company.
Taylor officials were in New Hartford on Thursday, Ittner said. Workers were told that the Connecticut operations would be folded into other parts of the company.
Executive Greetings is one of New Hartford's largest employers. The company makes specialized business stationery, including promotional products, calendars, and cards.
Taylor Corp. is owned by Glen Taylor, who has a net worth of $1.9 billion, according to the Forbes list of wealthiest Americans last year. He also owns the NBA's Minnesota Timerbwolves.
Executive Greetings has annual sales of between $31 million and $40 million, according to Hoover's Online, and Taylor Corp.'s annual sales top $1.2 billion.
In addition to its New Hartford headquarters, the company also operates a Grand Prairie, Texas, production plant that employs about 75 people. Ittner said Taylor expects to eliminate most of those jobs.
job relocation
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minnow fan
Group: Members
Posts: 198
Joined: Nov. 2003
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Posted on: Apr. 24 2004,11:31 am |
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Two Mason City employers to close building and eliminate jobs
Publishing date: 04-23-2004 2:53 PM
(KAAL) -- Changes will be taking place at two of Mason City's largest employers.
The Curries Company and its sister operation, Graham Manufacturing, design and construct a variety of steel and wood doors.
But due to several things, including a dramatic increase in steel prices, an office building used by Curries will be closed.
In addition, up to 15 jobs, between the two employers, will be eliminated at the administrative level.
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Even if you think the ALEDC is a good idea, do you really want to put Sparks and Bishop in charge of all the economic development in Albert Lea?
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