He’s got that magic touch.
Eleven months ago Barack Obama praised Lincolnton Furniture Company at the White House.

But that was eleven months ago.
Lincolnton just went bust.
The Miami Herald reported:

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.

-snip-

Read more:http://www.thegatewaypundit.com/2013/01/...pany-goes-bust/

Likely a victim of the ObamaCare pandemic

They held on longer than some of the others.

NC furniture plant, praised by Obama, closes

12:02 PM 01/04/2013


Caroline May
Political Reporter

A year after President Barack Obama welcomed the CEO of a North Carolina furniture company to the White House as a demonstration of investment in the U.S. economy, the Lincolnton Furniture Company announced its closing.

CEO Bruce Cochrane confirmed to Charlotte’s WBTV Thursday that the company would shut its doors immediately, laying off 50 employee in the process.

Cochrane — whose family sold their furniture business when they could not compete with foreign manufacturers in the mid-1990s — opened the plant in 2011 and was heralded by President Obama during his “Insourcing American Jobs” forum at the White House last January.

“But in 1996, as jobs began shifting to Asia, the family sold their business, and Bruce spent time in China and Vietnam as a consultant for American furniture makers,” Obama said. “But while he was there, he noticed something he didn’t expect: their consumers actually wanted to buy things made in America. So he came home and started a new company, Lincolnton Furniture, which operates out of the old family factories.”

“I want us to be known for making and selling products all over the world stamped with three proud words: ‘Made in America.’ And we can make that happen,” he added.

Cochrane was also a guest in first lady Michelle Obama’s box during the president’s 2012 State of the Union Address. And in November, North Carolina Democratic Gov. Bev Purdue honored the company with an award for excellence in workforce development.

The CEO told WBTV that telling his employees about the closing was difficult.

“We had a great place to work and people enjoyed working there,” Cochrane said. “Many of the people who worked there had worked for me before.”

The company’s financial officer Ben Causey told The Charlotte Observer that only a few employees will stay on “evaluate the situation” and that the closure was largely due to a dearth of orders.

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

While Cochrane is trying to figure out what to do next, he explained to WSOC that he remains proud about what the company accomplished.

Read more:

http://dailycaller.com/2013/01/04/nc-fur.../#ixzz2H323KtgQ

This happens a lot with Obama. Can't figure out the problem. /s

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.

I'm confused.

If it is a fifth-generation furniture-manufacturer, how could the company have been formed in 2011?

I believe it is Mr. Cochrane who is the fifth generation furniture-manufacturer, not the company.

Quote: Eglman wrote in post #1

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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.

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Quote: Rev wrote in post #7

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I believe it is Mr. Cochrane who is the fifth generation furniture-manufacturer, not the company.

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Quote: Rev wrote in post #7

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I believe it is Mr. Cochrane who is the fifth generation furniture-manufacturer, not the company.

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Quote: ThirstyMan wrote in post #10

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Quote: Rev wrote in post #7

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I believe it is Mr. Cochrane who is the fifth generation furniture-manufacturer, not the company.

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Right, the "formula" that worked for five generations now doesn't. That's the story. These changes are real and if investors don't adapt they're going to die. To say we can complete with production grade imports is ridiculous. And the formula of American-made quality products won't be returning for a long, long time. Mr. Cochrane and all of us, will likely be dead before that way of life returns, if it ever does.

Cheap imports, global economy, unfair trade practises, disposable, one time use products purchased from IKEA, crap construction.

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