Furniture Company Obama Held Up As Example Of Recovering Economy Goes Bust

Furniture Company Obama Held Up As Example Of Recovering Economy Goes Bust – Weasel Zippers

Everything he touches turns to failure. Note: The owner was invited to sit with Mooch during the 2012 State of the Union address.

Via Miami Herald:

Lincolnton Furniture Company closed abruptly Thursday just one year after it was hailed by President Barack Obama as an example of the recovering U.S. economy.

Furniture-making operations stopped indefinitely and only a few people will remain employed moving forward, company financial officer Ben Causey said.

“I don’t know where it’s going to go exactly; we’re still evaluating our situation,” Causey said. “We just didn’t have any choice at this point.”

The company was not receiving the orders it needed to sustain its operations, Causey said.

“We needed more orders is really what it boiled down to,” he said. “We thought they would materialize.”

Owner Bruce Cochrane, a fifth generation furniture-manufacturer, formed the company in 2011 with a $5 million investment and the hope he could make a profit off people who wanted to buy furniture made in America.

It was a move that caught the attention of North Carolina officials and those in the White House. Last year, Cochrane sat with the first lady during Obama’s 2012 State of the Union Address. He also joined the president and other business leaders in a discussion about how to create more jobs at home.

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One thought on “Furniture Company Obama Held Up As Example Of Recovering Economy Goes Bust

  1. Funny how just making products doesn’t create sustainable jobs. If the population in general can’t afford or doesn’t want what you make, all you end up with is a warehouse of stuff to be sold to Big Lots for a nickel on the dollar.

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