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  1. #1
    Taking A Stand!!!

    Join Date
    Jul 2009
    Local Union
    492
    Employer
    ABF
    Location
    Albuquerque, NM
    Posts
    41,851
    Rep Power
    919

    Default Greater Cincinnati logistics firm to close, lay off more than 300 workers

    If you have been paying attention, you know I have posted many posts showing coming layoffs at several companies. Many are good union jobs. I doubt if that is the case with this company but a job is a job. Where are all these people supposed to find new jobs???

    More than 300 workers in Greater Cincinnati will lose their jobs at a logistics and e-commerce firm later this year.

    Innotrac L.P. filed a notice with the Kentucky Career Center that is will close its Hebron facility, which will result in 338 layoffs by July 2.

    The layoffs include 86 drivers and 96 packers who will lose their jobs beginning in early May.
    Greater Cincinnati logistics firm Innotrac to close, lay off more than 300 workers - Cincinnati Business Courier

  2. #2
    Retired !

    Join Date
    Feb 2009
    Local Union
    107
    Employer
    Retired - New Penn
    Location
    South Jersey
    Posts
    17,192
    Rep Power
    371

    Default Re: Greater Cincinnati logistics firm to close, lay off more than 300 workers

    Investment firms don't care.

    Sterling Partners has completed its acquisition of Innotrac Corp. for $8.20 per share in cash.
    Sterling Partners, founded in 1983, is a growth-oriented, private equity firm. Sterling manages over $5 billion in institutional capital.
    https://www.pehub.com/2014/01/sterli...c-acquisition/

    Add this information and decide if this company would care about it's employees, or has the best interests of anyone in mind, besides the executives pocketbooks.

    The lawsuit describes the Sterling Partners as “a team of sophisticated professionals who built a business empire spanning four major industries, including real estate, professional baseball and sports media, private equity and hedge funds.”

    It says Sterling Partners “willfully disregarded any criticisms of Madoff and simply buried their heads in the sand” during a nearly quarter-century relationship in which it supported its substantial business empire with Madoff money and reaped the benefits of bogus profits.
    Madoff Trustee demands $300 million from N.Y. Mets owners | Corrupt Authority


  3. #3
    Taking A Stand!!!

    Join Date
    Jul 2009
    Local Union
    492
    Employer
    ABF
    Location
    Albuquerque, NM
    Posts
    41,851
    Rep Power
    919

    Default Re: Greater Cincinnati logistics firm to close, lay off more than 300 workers

    I used to work for a company in CA. I moved to NM before they closed down but it was a successful paper company and the CEO of the company was notorious for taking a company, making it very successful and then running it into the ground while he walked away with big bucks. And of course all those people lost their jobs.

 

 

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