Another Major Company Moving Back to U.S.

[Revmitchell]

In what might be considered the “Trump border tax” effect, Stanley Black & Decker, one of the best-known toolmakers in the world, said Thursday that it would move more of its manufacturing back to the U.S. from overseas.
Stanley Black & Decker CEO James Loree said they would be constructing a new factory at a cost of $35 million dollars.

The CEO said to his investors during a conference call, “Expanding American manufacturing makes ‘business sense’ amid ‘pervasive’ uncertainty regarding the future of U.S. trade with China and Mexico.”

Loree didn’t say anything specific about President-elect Donald Trump as he spoke to his investors but did say that the move has the side benefit of protecting his company from the possible effects of the president-elect’s threatened border tax, a tariff on imports.

Loree stated, “It’s going to be advisable to have more manufacturing in the U.S.”

http://dennismichaellynch.com/another-major-company-moving-back-u-s/

 

[Bro. James]

In what might be considered the “Trump border tax” effect, Stanley Black & Decker, one of the best-known toolmakers in the world, said Thursday that it would move more of its manufacturing back to the U.S. from overseas.
Stanley Black & Decker CEO James Loree said they would be constructing a new factory at a cost of $35 million dollars.

The CEO said to his investors during a conference call, “Expanding American manufacturing makes ‘business sense’ amid ‘pervasive’ uncertainty regarding the future of U.S. trade with China and Mexico.”

Loree didn’t say anything specific about President-elect Donald Trump as he spoke to his investors but did say that the move has the side benefit of protecting his company from the possible effects of the president-elect’s threatened border tax, a tariff on imports.

Loree stated, “It’s going to be advisable to have more manufacturing in the U.S.”

http://dennismichaellynch.com/another-major-company-moving-back-u-s/

-------------------------------------------------------------------------------------------------------------------------------
Not sure about the relevance, but I heard Stanley/B&D bought Craftsman from Sears.

I love high quality tools but cannot afford them. Harbor Freight has taken over my toolbox. I do have a good pair of vice grips-- also some 50 year old Craftsman sockets with ratchets, still working even with the chrome finish worn off.

General rule: merchants/stockholders go where they think they can make the most profit. It is only when the consumers refuse to buy their foreign junk that some of them get the message. Caterpillar has been moving back too. This could be a ploy to avoid the wrath of our new president. A closer review might show that some companies are moving some, not all of their operations back.

The love of money still runs the world.

Even so, come, Lord Jesus.

Bro. James

 

[Baptist Believer]

Stanley Black & Decker CEO James Loree said they would be constructing a new factory at a cost of $35 million dollars.

My firm builds factories for manufacturers. That's a small factory.

 

[Baptist Believer]

Not sure about the relevance, but I heard Stanley/B&D bought Craftsman from Sears.

They bought the brand. Craftsman tools are primarily made overseas these days.

I do have a good pair of vice grips-- also some 50 year old Craftsman sockets with ratchets, still working even with the chrome finish worn off.

The quality on the older Craftsman tools was outstanding. The quality on the current Craftsman tools is generally mediocre. You are paying for the warranty.

I used to sell Craftsman tools for Sears from 1990-1995. The shift from American manufacturers to overseas manufacturers was taking place at the time. I had many customers lecture me on the "Made in the U.S.A." stamp disappearing from the tools, as if I had made the decision. Certainly, I represented Sears in those exchanges and I passed on the customer dissatisfaction, but the retailer was quite busy figuring out how to cut costs and cut my paycheck and benefits (dropped my commission from 3% to 1% and gave me a number of customer service duties that prevented me from selling as much).

During that time, I rebuilt a lot of socket wrenches (a cost-saving measure to offer the customer when they came in for a warranty exchange) and could see the difference in quality between the older tools and the 1990s-era tools.

 

[InTheLight]

The quality on the older Craftsman tools was outstanding. The quality on the current Craftsman tools is generally mediocre. You are paying for the warranty.

Back when I was into street machines Snap-On tools were considered excellent tools. Are they still considered good stuff? Has their quality slipped as well?



Sent from my Moto Droid Turbo.

 

[InTheLight]

Stanley Black & Decker CEO James Loree said they would be constructing a new factory at a cost of $35 million dollars.

Likely filled with CNC machines and a handful of humans.



Sent from my Moto Droid Turbo.

 

[Rob_BW]

Back when I was into street machines Snap-On tools were considered excellent tools. Are they still considered good stuff? Has their quality slipped as well?



Sent from my Moto Droid Turbo.

We switched over to Craftsmen at work about 2 years ago. We work on the big stuff, and I can say that we are breaking fewer tools then when we used Proto.

Likely filled with CNC machines and a handful of humans.



Sent from my Moto Droid Turbo.

Yeah, reading about American manufacturing, it looks like as it returns the factories will be much smaller and more dispersed.

 

[Revmitchell]

Likely filled with CNC machines and a handful of humans.



Sent from my Moto Droid Turbo.

If someone gave you a pit of gold you would complain because they didn't also give you a wheelbarrle to carry it in.

 

[InTheLight]

If someone gave you a pit of gold you would complain because they didn't also give you a wheelbarrle to carry it in.

Headline is misleading. Black & Decker isn't moving back to the US, they're already here. They are going to open another factory in the US.

Trump's reason for a border tax is to bring manufacturing jobs back to the US.

From the article:
Stanley Black & Decker operates 29 factories in the U.S. but the company has not clarified the number of jobs this new factory will create, nor where it will be built.

The company presently employs appx. 3,000 people in U.S. manufacturing jobs.
-----
So they average about 100 jobs per factory.

So possibly 100 new jobs. Wow. Awesome. Make America Great Again.

Sent from my Moto Droid Turbo.

 

[StefanM]

Headline is misleading. Black & Decker isn't moving back to the US, they're already here. They are going to open another factory in the US.

Trump's reason for a border tax is to bring manufacturing jobs back to the US.

From the article:
Stanley Black & Decker operates 29 factories in the U.S. but the company has not clarified the number of jobs this new factory will create, nor where it will be built.

The company presently employs appx. 3,000 people in U.S. manufacturing jobs.
-----
So they average about 100 jobs per factory.

So possibly 100 new jobs. Wow. Awesome. Make America Great Again.

Sent from my Moto Droid Turbo.

All hail Lord Trump!

 

[Baptist Believer]

Back when I was into street machines Snap-On tools were considered excellent tools. Are they still considered good stuff? Has their quality slipped as well?

They used to be, but I don't know anymore.

I could never afford Snap-On and built my tool set from clearance buy Craftsman tool sets that I bought with an employee discount.

Most of the additional tools I buy now are specialized things for plumbing projects at home, or a few odds and ends for minor car repairs.

 

[Revmitchell]

Headline is misleading. Black & Decker isn't moving back to the US, they're already here. They are going to open another factory in the US.

Trump's reason for a border tax is to bring manufacturing jobs back to the US.

From the article:
Stanley Black & Decker operates 29 factories in the U.S. but the company has not clarified the number of jobs this new factory will create, nor where it will be built.

The company presently employs appx. 3,000 people in U.S. manufacturing jobs.
-----
So they average about 100 jobs per factory.

So possibly 100 new jobs. Wow. Awesome. Make America Great Again.

Sent from my Moto Droid Turbo.

Not its not misleading from the op:

"Loree didn’t say anything specific about President-elect Donald Trump as he spoke to his investors but did say that the move has the side benefit of protecting his company from the possible effects of the president-elect’s threatened border tax, a tariff on imports."