Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Politics : Formerly About Advanced Micro Devices -- Ignore unavailable to you. Want to Upgrade?

To: Brumar89 who wrote (1155792)

8/9/2019 12:42:14 PM

From: Brumar89

1 Recommendation

Recommended By
rdkflorida2

Read Replies (1) | Respond to of 1574207

Another Trump win: Last US TV maker shuts down

The Last Major TV Factory in the U.S. Is Shutting Down Because of President Trump's Tariffs

BY KATIE REILLY
AUGUST 8, 2018

A South Carolina plant that assembles televisions using Chinese parts plans to shut down and lay off nearly all its employees because of new tariffs imposed by the Trump Administration, the company announced this week.

Element Electronics — which describes itself as the only assembler of televisions in the U.S. — plans to lay off 126 of its 134 permanent full-time employees and close the Winnsboro, S.C. plant on Oct. 5. Notably, there are still at least two smaller companies that continue to assemble speciality televisions in the U.S.

“The layoff and closure is a result of the new tariffs that were recently and unexpectedly imposed on many goods imported from China, including the key television components used in our assembly operations in Winnsboro,” Carl Kennedy, Element’s vice president of human resources, said in a letter to the South Carolina Department of Employment and Workforce on Monday.

Kennedy said he hopes the closure will be temporary and the company is advocating for its parts to be removed from the tariff list. “We remain hopeful that the closure of our South Carolina factory will be avoided,” Element said in a statement shared on social media Tuesday.

time.com