I wasn't going to post anything today. No reason for it.
But after talking to an old friend last night I decided maybe I would post this.
And remember, you read it here first.
This reporter has learned that after being in business for over 50 years a local precaster of specialty concrete structures will be closing it's door.
The company was started back in the 1950's making burial vaults.
It expanded in the 1960's to septic tanks and soon was making highway barrier,curbing, manhole vaults and jumped into highway culverts and retaining walls.
It operated through the recessions of the 1970's and late 1980's yet never failed to be able to expand it's ventures. The company grew and in the 1990's, fueled partially by the "Big-Dig" expanded to the point of employing nearly 160 personnel and having it's greatest sales year ever. In 1999 this local precaster had a record 14 million dollar sales year.
Unfortunately this lead to being bought up by what some believe to be the largest world conglomerate of the construction industry, a company whose base is in Ireland.
1999 was the last banner year.
The long and the short of it is that over the next 7 years a failure by management in it's decisions and what appears to have been complete gross negligence of corporate oversight to contain or admit to the problems has left this company stripped of it's product line, down to less then 30 employees and prepared to close it's doors.
In my opinion what happened to Chase PreCast is an example of how corporations do far more damage than good. They are to large and generally too busy with profit to be concerned with the fact peoples livelihoods are at stake. The bottom line is all that occupies the corporate.
What's good for M&M Industries is good for Wall Street.
Well to all my friends in that little community known as Chase Precast, Good luck with your futures and if there is anything you feel I can do to help you, please let me know.
Ed will be able to put you in touch..