HUGE ground shift in a multi billion dollar industry | |
JFN111
Retired Bum User ID: 80922148 United States 11/23/2022 08:30 AM Report Abusive Post Report Copyright Violation | 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 Report Abusive Post Report Copyright Violation | 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 |
Anonymous Coward User ID: 78294056 11/23/2022 08:47 AM Report Abusive Post Report Copyright Violation | 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. Quoting: Hairy man More than 2500 employees out of work right before the holidays. SHIT |
Anonymous Coward User ID: 73377229 United States 11/23/2022 08:53 AM Report Abusive Post Report Copyright Violation | |
Hairy man
(OP) User ID: 80368958 United States 11/23/2022 11:15 PM Report Abusive Post Report Copyright Violation | |
Anonymous Coward User ID: 75225977 United States 11/23/2022 11:30 PM Report Abusive Post Report Copyright Violation | |
Anonymous Coward User ID: 82976792 United States 11/23/2022 11:32 PM Report Abusive Post Report Copyright Violation | |
TerraFirma's Esoterrorist
User ID: 83924675 United States 11/23/2022 11:38 PM Report Abusive Post Report Copyright Violation | 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 Report Abusive Post Report Copyright Violation | Wow, I was in High Point, NC a month ago. Quoting: TerraFirma's Esoterrorist It was known as the 'furniture capital of the world.' I wonder if they are FTX bagholders? https://imgur.com/a/tlLY3VF 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 Report Abusive Post Report Copyright Violation | |
Anonymous Coward User ID: 81070876 United States 11/24/2022 07:41 AM Report Abusive Post Report Copyright Violation | |
Renaissance Woman
User ID: 81936595 United States 11/24/2022 07:43 AM Report Abusive Post Report Copyright Violation | 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 Report Abusive Post Report Copyright Violation | |
Anonymous Coward User ID: 84810578 Canada 11/24/2022 07:49 AM Report Abusive Post Report Copyright Violation | |
Anonymous Coward User ID: 81070876 United States 11/24/2022 07:51 AM Report Abusive Post Report Copyright Violation | If a billion people "die suddenly", there will be lots of decent used furniture on the market for low low prices. Quoting: JustmeTX Also, Lane made some pretty poor quality furniture. Yeahhhh enjoy that used sofa soaked full of cooties. Death-couch, solid wood furniture is the only way to fly |
Anonymous Coward User ID: 75069477 United States 11/24/2022 07:56 AM Report Abusive Post Report Copyright Violation | 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 Report Abusive Post Report Copyright Violation | |
Anonymous Coward User ID: 81139494 Hong Kong 11/24/2022 08:05 AM Report Abusive Post Report Copyright Violation | 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. Quoting: Anonymous Coward 75069477 I'm going there this am to get free scrap hardwood for kindling. Go figure. Sounds like Lane was just another shitty company run by boohmars. |
JustmeTX
User ID: 84369183 United States 11/24/2022 08:08 AM Report Abusive Post Report Copyright Violation | If a billion people "die suddenly", there will be lots of decent used furniture on the market for low low prices. Quoting: JustmeTX Also, Lane made some pretty poor quality furniture. Yeahhhh enjoy that used sofa soaked full of cooties. Death-couch, 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 Report Abusive Post Report Copyright Violation | |
Anonymous Coward User ID: 81227660 United States 11/24/2022 08:19 AM Report Abusive Post Report Copyright Violation | |
Eth84
User ID: 46341120 United States 11/24/2022 08:20 AM Report Abusive Post Report Copyright Violation | 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. Quoting: Hairy man More than 2500 employees out of work right before the holidays. Good clarification |
Anonymous Coward User ID: 82374875 United States 11/24/2022 08:21 AM Report Abusive Post Report Copyright Violation | |
JustmeTX
User ID: 84369183 United States 11/24/2022 08:25 AM Report Abusive Post Report Copyright Violation | 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 Report Abusive Post Report Copyright Violation | 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? Quoting: JustmeTX Could be a good opportunity. 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 Report Abusive Post Report Copyright Violation | |
sad pony
User ID: 81765260 United States 11/24/2022 08:30 AM Report Abusive Post Report Copyright Violation | 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 Report Abusive Post Report Copyright Violation | |
Anonymous Coward User ID: 84338021 United States 11/24/2022 08:37 AM Report Abusive Post Report Copyright Violation | |
JustmeTX
User ID: 84369183 United States 11/24/2022 08:40 AM Report Abusive Post Report Copyright Violation | 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? Quoting: JustmeTX Could be a good opportunity. 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 Awesome! Capitalism at work. Justme |