Continental Tire in Charlotte cutting over 500 jobs

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I had not thought about the Chinese entering the tire market, but this makes me wonder when it will happen. It is not like the Chinese cannot figure out how to make tires and they are just now launching their first car in the American market.

This article is more important for citing the trend of asking employees for huge concessions, in this case 35%. It also is a big blow to Charlotte because they were good paying jobs. It also raises the eternal question of what can the US export to pay for all the oil we are using.

From http://www.charlotte.com/mld/charlotte/13586313.htm

Continental Tire North America Inc. said Monday it will lay off 513 workers at its Charlotte plant, or nearly half its workforce, because of high manufacturing costs.

The German company says the plant is its most expensive around the globe. Last month, the company asked its Charlotte employees to give up 35 percent of their pay and benefits by January -- or face a 30 percent cut in production.

The plant's union wasn't able to broker a deal with company managers. The United Steelworkers Local 850 expected the layoffs after missing a January deadline for its response to the company's plan to cut pay and benefits by 35 percent, said Mark Cieslikowski, president of the Charlotte plant's United Steelworkers Local 850.

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Continental makes more than 20 million tires in America each year. It is the fifth-largest domestic manufacturer. Last year, the Charlotte plant was making about half those tires.

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1. But didn't you hear? Dow 11,000!

The economy is strong, Strong, STRONG!!!

:puke: :puke: :puke: