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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: Les H who wrote (15204)	11/21/2003 8:40:22 AM
From: Wyätt Gwyön	Read Replies (3) \| Respond to of 306849

more real jobs going to China... have no fear, Starbucks is hiring somewhere. Price Pressure Squeezes Out Toolmakers U.S. toolmakers -- a once-vital craft at the heart of the nation's industrial sector -- are seeing their work vanish as China's sudden emergence as an unbeatable pricing opponent has them reeling. All over America, toolmakers -- a once-vital craft at the heart of the nation's industrial sector -- are seeing their work vanish. The National Tooling and Machining Association estimates that 30% of the toolmakers in the U.S. have shut down in the past three years, and it expects many more to close in the next few years. Orders for the machines used by the toolmakers have plunged nearly 70% since 1997. "We can lose our ability to make blenders and garden shovels, but there are other things that we have to be able to make in order to be masters of our destiny," When William Bachman, president of Bachman Machine Co. in St. Louis, was asked to submit a bid to make tools to stamp metal parts for car jacks, and to also produce the parts themselves, he priced the tools at $595,000. His Chinese competitor offered to make the tools free. online.wsj.com