Comments: It took this economic collapse to close a 250 year old successful business? Can you say DEPRESSION?
Crystal, china maker Waterford Wedgwood collapses!
LONDON – Waterford Wedgwood PLC, the maker of classic china and crystal, filed for bankruptcy protection on Monday after attempts to restructure the struggling business or find a buyer failed.
Four administrators from business advisory firm Deloitte were appointed to run the company's businesses in Britain and Northern Ireland, while a Deloitte partner in the Irish Republic was appointed as receiver of Waterford Wedgwood PLC, the ultimate parent of the U.K. companies, and other Irish subsidiaries.
The U.K. joint administrators said they intended to continue to run the business as they seek a buyer. Trading in the company's shares was suspended on the Irish Stock Exchange where they languished at just one-tenth of a euro cent.
"Waterford, Wedgwood and Royal Doulton are quintessentially classic brands that represent a high quality product which is steeped in history," the administrators said in a statement. "The administration team will be working closely with management, customers and suppliers during this time to ensure operations continue whilst a sale of the business is sought."
250 Years BANKRUPT--Article--
WASHINGTON (AP) - President-elect Barack Obama describes the economy as "bad and getting worse."
He's been on Capitol Hill today, meeting with House and Senate leaders to talk about an economic stimulus plan.
Before meeting with Senate Majority Leader Harry Reid, Obama told reporters, "We have to act and act now," in order to break what he called the "momentum of this recession."
Obama earlier met with House Speaker Nancy Pelosi. He said he went to Capitol Hill ahead of his inauguration because "the people's business cannot wait."
i sure hope obama can do something, harper sure won't
ReplyDeleteNobody will be able to do anything. Obama and his HUGE spending spree will make this MUCH MUCH worse!
ReplyDeleteThey've been around 250 years and survived one Depression and have sent jobs offshore to Jakarta, Indonesia and one other location. So Brits and Americans also hit by offshoring don't have jobs, don't have moolah, don't have room left on credit cards. So how much will my collection increase in value? I bought last time I visited England...
ReplyDeleteThe only change to look forward to under Obama is that you'll be standing on street corners begging
ReplyDelete"spare change"
There is no leader that can put Humpty back together.
The govt has emptied the cupboard to make sure the fat cats continue in the style they are accustomed to.
All that taxpayer money is really going to be needed by "we the people" before this nightmare ends... but it has been squandered.
If you were forewarned that your town was going to be hit by drought next week, would you gather up all the remaining water and give it all away to another country?
Well that's what the stealing scum leadership has done.
While Bankers line up for champagne... Citizens will drink piss.
The car sales numbers are down and correspond to the US jobs sent offshore, the new campuses built by Microsoft, IBM, Intel, Cisco, in Bangladesh. Go sell 'em cars and Wedgewood.
ReplyDeleteGreat blog, would you be interested in a link exchange?
ReplyDeletewww.zentrader.ca
Jeff