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HUGE ground shift in a multi billion dollar industry

 
Hairy man

User ID: 80368958
United States
11/23/2022 08:21 AM

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HUGE ground shift in a multi billion dollar industry
I'm in the furniture industry. LANE furniture, that has been around for close to 100 years, closed abruptly. This is one of the top 2 biggest furniture manufactures in the United States. They sent an email out to all employees 2 days ago terminating them effective immediately.
More than 2500 employees out of work right before the holidays.
Hairy man
JFN111

User ID: 80922148
United States
11/23/2022 08:30 AM

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Re: HUGE ground shift in a multi billion dollar industry
A link to article about the closing
[link to www.furnituretoday.com (secure)]
Larry D. Croc

User ID: 70736097
United States
11/23/2022 08:45 AM

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Re: HUGE ground shift in a multi billion dollar industry
Damn, that's rough.
"Socialism only works in two places: Heaven where they don't need it and hell, where they already have it." Ronald Reagan

The trouble with our liberal friends is not that they're ignorant; it's just that they know so much that isn't so." Ronald Reagan
Zell Xan

User ID: 78294056
11/23/2022 08:47 AM

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Re: HUGE ground shift in a multi billion dollar industry
I'm in the furniture industry. LANE furniture, that has been around for close to 100 years, closed abruptly. This is one of the top 2 biggest furniture manufactures in the United States. They sent an email out to all employees 2 days ago terminating them effective immediately.
More than 2500 employees out of work right before the holidays.
 Quoting: Hairy man


SHIT
Anonymous Coward
User ID: 73377229
United States
11/23/2022 08:53 AM
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Re: HUGE ground shift in a multi billion dollar industry
GOOD... SHIT PRODUCTS! NOT SORRY...
Hairy man  (OP)

User ID: 80368958
United States
11/23/2022 11:15 PM

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Re: HUGE ground shift in a multi billion dollar industry
bump
Hairy man
Anonymous Coward
User ID: 75225977
11/23/2022 11:30 PM
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Re: HUGE ground shift in a multi billion dollar industry
Who the hell buying furnitures?
Misinformation Superspreader

User ID: 82976792
United States
11/23/2022 11:32 PM
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Re: HUGE ground shift in a multi billion dollar industry
All signs point to a great depression from what I'm seeing I'm no expert but damn all the biggest companies laying thousands off.
Misinformation Superspreader was from the documentary "Died Suddenly" a doctor who denied the vaccine was safe was called this by Google. But since tards don't get it I changed it.
TerraFirma's Esoterrorist

User ID: 83924675
United States
11/23/2022 11:38 PM
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Re: HUGE ground shift in a multi billion dollar industry
Wow, I was in High Point, NC a month ago.
It was known as the 'furniture capital of the world.'

I wonder if they are FTX bagholders?

https://imgur.com/a/tlLY3VF



Last Edited by TerraFirma's Esoterrorist on 11/23/2022 11:38 PM
"Keep a weather eye to the chart on high and go home another way"

–James Taylor Never Die Young
Hairy man  (OP)

User ID: 80368958
United States
11/24/2022 07:18 AM

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Re: HUGE ground shift in a multi billion dollar industry
Wow, I was in High Point, NC a month ago.
It was known as the 'furniture capital of the world.'

I wonder if they are FTX bagholders?

https://imgur.com/a/tlLY3VF

 Quoting: TerraFirma's Esoterrorist



I don't think so.
This was a case of major fraud coming from some high level executives. Maybe to the tune of 100 million dollars. We will know soon.
Hairy man
Anonymous Coward
User ID: 77847051
United States
11/24/2022 07:39 AM
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Re: HUGE ground shift in a multi billion dollar industry
Murder murder murder.

And happy holidays
Anonymous Coward
User ID: 81070876
11/24/2022 07:41 AM
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Re: HUGE ground shift in a multi billion dollar industry
china related?
Renaissance Woman

User ID: 81936595
United States
11/24/2022 07:43 AM

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Re: HUGE ground shift in a multi billion dollar industry
Dang, this is my back yard, and affects my line of work. I'm thinking of all my colleagues in the area ad agencies who are also affected. A closing like this is MUCH bigger than just the 2500 employees. So many support industries will be hurt too.
"For with thee is the fountain of life: in thy light shall we see light."
JustmeTX

User ID: 84369183
United States
11/24/2022 07:44 AM

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Re: HUGE ground shift in a multi billion dollar industry
If a billion people "die suddenly", there will be lots of decent used furniture on the market for low low prices.

Also, Lane made some pretty poor quality furniture.
Justme
Anonymous Coward
User ID: 84810578
United States
11/24/2022 07:49 AM
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Re: HUGE ground shift in a multi billion dollar industry
If a billion people "die suddenly", there will be lots of decent used furniture on the market for low low prices.

Also, Lane made some pretty poor quality furniture.
 Quoting: JustmeTX


Yeahhhh enjoy that used sofa soaked full of cooties. Death-couch,

damned
Anonymous Coward
User ID: 81070876
11/24/2022 07:51 AM
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Re: HUGE ground shift in a multi billion dollar industry
If a billion people "die suddenly", there will be lots of decent used furniture on the market for low low prices.

Also, Lane made some pretty poor quality furniture.
 Quoting: JustmeTX


Yeahhhh enjoy that used sofa soaked full of cooties. Death-couch,

damned
 Quoting: Anonymous Coward 84810578


solid wood furniture is the only way to fly
Anonymous Coward
User ID: 75069477
United States
11/24/2022 07:56 AM
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Re: HUGE ground shift in a multi billion dollar industry
Meanwhile, in a small town, in a county with 20,000 residents in the Eastern panhandle of west Virginia, the local furniture factory just built a 7 million dollar addition to its acre sized plant.
I'm going there this am to get free scrap hardwood for kindling.
Go figure.
Anonymous Coward
User ID: 84337122
United States
11/24/2022 08:04 AM
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Re: HUGE ground shift in a multi billion dollar industry
No more need for hope chests. Or jewelry boxes. (Oops! that might be antisemitic.)
Anonymous Coward
User ID: 81139494
11/24/2022 08:05 AM
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Re: HUGE ground shift in a multi billion dollar industry
Meanwhile, in a small town, in a county with 20,000 residents in the Eastern panhandle of west Virginia, the local furniture factory just built a 7 million dollar addition to its acre sized plant.
I'm going there this am to get free scrap hardwood for kindling.
Go figure.
 Quoting: Anonymous Coward 75069477


Sounds like Lane was just another shitty company run by boohmars.
JustmeTX

User ID: 84369183
United States
11/24/2022 08:08 AM

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Re: HUGE ground shift in a multi billion dollar industry
If a billion people "die suddenly", there will be lots of decent used furniture on the market for low low prices.

Also, Lane made some pretty poor quality furniture.
 Quoting: JustmeTX


Yeahhhh enjoy that used sofa soaked full of cooties. Death-couch,

damned
 Quoting: Anonymous Coward 84810578


I'm just saying, hotels buy a lot of furniture. Do you think they care if you get cooties? They will steam clean it. Hotel furniture is used by many many people before you check in. :)

Don't bring your CSI blacklight or you may not want to stay there. :)

Last Edited by JustmeTX on 11/24/2022 08:08 AM
Justme
irked77

User ID: 80700545
United States
11/24/2022 08:15 AM
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Re: HUGE ground shift in a multi billion dollar industry
big lots gonna be hurting...
Anonymous Coward
User ID: 81227660
United States
11/24/2022 08:19 AM
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Re: HUGE ground shift in a multi billion dollar industry
Why not sell the company? Why let it go oob?
Eth84

User ID: 46341120
United States
11/24/2022 08:20 AM
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Re: HUGE ground shift in a multi billion dollar industry
I'm in the furniture industry. LANE furniture, that has been around for close to 100 years, closed abruptly. This is one of the top 2 biggest furniture manufactures in the United States. They sent an email out to all employees 2 days ago terminating them effective immediately.
More than 2500 employees out of work right before the holidays.
 Quoting: Hairy man


Good clarification
Anonymous Coward
User ID: 82374875
United States
11/24/2022 08:21 AM
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Re: HUGE ground shift in a multi billion dollar industry
All signs point to a great depression from what I'm seeing I'm no expert but damn all the biggest companies laying thousands off.
 Quoting: Misinformation Superspreader


small businesses employ America.

the big ones are bloated with inefficiency. this is healthy
JustmeTX

User ID: 84369183
United States
11/24/2022 08:25 AM

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Re: HUGE ground shift in a multi billion dollar industry
Maybe the Employees could get together and take it private. Buy the plant as it is liquidated for nothing, and improve the quality or adjust what they are making to reach a more lucrative market?

Could be a good opportunity.

Lane made shit furniture.

If they tried making Non-shit furniture, they might gain some traction.

Or make specialty stuff like those robotic massage chairs. (i have several and damn they are nice).

Or a chair that also provides traction for a bad back. or that lifts for the elderly to stand up easier.

Last Edited by JustmeTX on 11/24/2022 08:27 AM
Justme
Anonymous Coward
User ID: 82374875
United States
11/24/2022 08:26 AM
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Re: HUGE ground shift in a multi billion dollar industry
Maybe the Employees could get together and take it private. Buy the plant as it is liquidated for nothing, and improve the quality or adjust what they are making to reach a more lucrative market?

Could be a good opportunity.
 Quoting: JustmeTX


my family did this with a few partners - the business they were at went bankrupt. They bought it and all the equipment for pennies on the dollar. Assets alone were easily a few million
Anonymous Coward
User ID: 70871348
United States
11/24/2022 08:29 AM
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Re: HUGE ground shift in a multi billion dollar industry
I buy furniture from the Amish. Fuck LANE. It's about time their cheap veneer wood garbage got shut down. MAYBE people can go back to high quality furniture from small businesses now.
sad pony
.

User ID: 81765260
United States
11/24/2022 08:30 AM
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Re: HUGE ground shift in a multi billion dollar industry
Dang, this is my back yard, and affects my line of work. I'm thinking of all my colleagues in the area ad agencies who are also affected. A closing like this is MUCH bigger than just the 2500 employees. So many support industries will be hurt too.
 Quoting: Renaissance Woman



I am sorry to hear that you will be affected. A lot of people will.
But its good for me.
A lot of people will be reupholstering their old stuff.
I didn't wish it on them but I certainly won't turn down work

We all knew this was coming but didn't know which industries would be hit first.
Unfortunately I think this is just the beginning of crumbling businesses.

Remember this is all planned and by design.
Idaho Potato

User ID: 84725207
United States
11/24/2022 08:31 AM
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Re: HUGE ground shift in a multi billion dollar industry
Ikea stock just went up
Idaho Potato, it's what's for dinner
Anonymous Coward
User ID: 84338021
United States
11/24/2022 08:37 AM
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Re: HUGE ground shift in a multi billion dollar industry
Ikea stock just went up
 Quoting: Idaho Potato


Liar piece of shit.
JustmeTX

User ID: 84369183
United States
11/24/2022 08:40 AM

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Re: HUGE ground shift in a multi billion dollar industry
Maybe the Employees could get together and take it private. Buy the plant as it is liquidated for nothing, and improve the quality or adjust what they are making to reach a more lucrative market?

Could be a good opportunity.
 Quoting: JustmeTX


my family did this with a few partners - the business they were at went bankrupt. They bought it and all the equipment for pennies on the dollar. Assets alone were easily a few million
 Quoting: Anonymous Coward 82374875


Awesome! Capitalism at work.
Justme





GLP