EPIC to close Norwalk plant

85 local residents to lose jobs.
Scott Seitz
Jan 13, 2014

EPIC Technologies officials this morning announced the closing of its Norwalk facility.

Workers learned the news about 8:30 a.m.

The Norwalk plant, located at 200 E. Bluegrass Drive, currently employs 85 people.

EPIC, which is a Natel EMS company, will consolidate its remaining customers into other EPIC locations during the next six months.

Look for the full story in Tuesday’s Norwalk Reflector.

Comments

Contango

Re: "'Nafta or 'Cafta'".

1. Mexico and Canada are OH's largest foreign trading partners.

2. Eliminating the fed. corp income tax would make erecting trade barriers essentially worthless. The world's capital would flow to us!

3. Ross Perot was a rich *ssclown who helped to get Slick Willie elected in a three way race.

Cliff Cannon

" 2. Eliminating the fed. corp income tax would make erecting trade barriers essentially worthless. The world's capital would flow to us!"


Here's rooting for this to come about. Because, we all know drastic action is required---soon, or American's, will likely have an economic disaster on our hands that may well exceed the " Great Depression "


As to Mr. Perot. It never left my mind that he made his great fortune basically selling computers to the federal government or that he 'owned' former house speaker Jim Wright. All of which is to say he is a D.C. 'insider' all the way.


Still,the bottom line I believe is far more American jobs have fallen victim to that 'giant sucking sound' than have came into being because of 'Nafta'

Contango

Re: "Here's rooting for this to come about."

Wishful thinking (of course).

The direction of our 'friends' in DC is greater confiscation of corp. and individual assets in order to help fund their centrally planned approach toward equalitarianism.

Another recent article for you:

http://www.zerohedge.com/news/20...

Nothing personal against Mr. Perot (except for his helping Mr. Clinton). I read a biography of him and have much admiration for his business talents.

Not a fan of economic trade barriers - let me buy whatever I want from whomever I want.

Contango

Re: "Because, at this stage, after falling so far economically, the only way we can go is up."

Are you positive that Norwalk has hit bottom and there are not other shoes to drop?

IMO, fiscal austerity has yet to begin.

Cliff Cannon

" Are you positive that Norwalk has hit bottom and there are not other shoes to drop? " Oh heavens no. Still, how many more shoes do we have left on feet to drop ?


Further, the future 'austerity' you mention is why, I have been so in favor of consolidating as many local ( city,county & state ) government functions as possible.


Then offer the controversial opinion that all government employee's across the county take wage & benefit cuts so as to not only keep services at the highest level possible, but to provide funds to hire what I think the future will need most----more cops

Contango

Re: "I have been in so in favor of consolidating as many local government functions as possible."

Proposed by the likes of FDR in his 1933 book: "Looking Forward."

Good luck getting consensus and agreement among the bureaucratic egos and fiefdoms.

--------------------

Re: "Then offer the controversial opinion that all government employee's across the county take wage & benefit cuts,"

Yea, EVERYONE looks forward to working more for less. Non-starter.

Cliff Cannon

"Yea, EVERYONE looks forward to working more for less. Non-starter."

Thanks for the belly laugh, in reminding me of how stupid I look on this proposal. Of course, times are not yet bad enough for the drastic, draconian changes I propose. However, I fear that someday ,perhaps sooner, rather than later, they will be. Please pray, I am wrong


"Proposed by the likes of FDR in his 1933 book: "Looking Forward." As the 'good book' says 'nothing new under the sun' is there ?

Contango

Re: "times are not yet bad enough for the drastic, draconian changes,"

If you listen to the Fed Reserve, for the last five yrs. they have been fighting against deflation.

The loss of value in the housing mkt. beginning in '07, was but a foretaste of what is possible in a deflationary economic environment.

People tend to wait to make purchases because it'll 'only be cheaper tomorrow.'

This mentality feeds on itself causing economic turmoil. (Think: Great Depression).

I have little doubt that it is coming. The problem comes in of not knowing 'exactly' what form it will take and preparing for it.

I may have given you a link to this before. IMO, it's worth reading.

"The Economic Consequences of Cheap Money"

http://mises.org/daily/6081/

Cliff Cannon

" People tend to wait to make purchases because it'll 'only be cheaper tomorrow.' " True.


Although, I tend to believe the Federal Reserve put the idea into American's heads as well that to borrow as much as possible. Because inflation , being a good thing. Will allow one to pay back todays money with 'cheaper' dollars tomorrow.


However we got here. The joke " what's the difference between a rich man and a poor man " Answer " the amount of money he owes " Rings true. In fact, we Americans might be the only people in history to have mastered the art of living 'prosperously' while being flat broke.


Somehow,someway, we need to get it back into American mentality. That it is the savers who own the country. For they put money into banks for others to buy homes, put money into stocks so that business' might grow, all the while teaching those who can see--- the value of thriftiness. ( A peaceful contented life )


The future has of course, never left a blueprint so that one might know " 'exactly' what form it will take" so as to allow preparation for it.


Still, I think our grandparents who not only survived, but raised their family's in the " Great Depression " offer these clue's : Get by on less, be happy with what you have, take very good care of what you have to make it last, don't waste a darn thing. Then love and depend on your family with all your heart.

P.S. Speed read parts of your link. It is stunning !

Contango

Re: " 'the amount of money he owes'"

In a span of approx. 60 yrs., the U.S. has went from the largest creditor in the world to it's greatest debtor.

I also recall Warren Buffett's statement about the Fed. Reserve -

http://www.bloomberg.com/news/20...

Hedge funds 'never' implode do they? :)

IMO, one of the most poignant parts of the von Mises article:

"The question is only whether one should continue expansionism until the final collapse of the whole monetary and credit system or whether one should stop at an earlier date.

The sooner one stops, the less grievous are the damages inflicted and the losses suffered."

IMO, with the Fed. Resv. its been 'full speed ahead.'

Cliff Cannon

" IMO, with the Fed. Resv. it been 'full speed ahead.' " Amen

P.S. As always Buffet says amazingly brilliant things.

notsofast

Wouldn't be easier if you guys just called each other?

JMOP

@ NotSoFast
LMAO!!!!

methodman

Yeh. Would you two get a room already. Oh cliFF. Oh contango.

Contango

Re: "Wouldn't (snip)"

We're discussing economics; got sumpthin' to add?

Cliff Cannon

@ notsofast : Perhaps. Then it would also ruin the fun of anonymous debate, because as far as I know 'Contango ' could be my paper boy.


Further, I must confess, today I could not keep up with him. Because, not only am I more of an essayist, than a one liner person.But he is also obviously extremely well versed in economics and as such,one must ( should )think through their replies on such a critical topic.


Unless, whomever I am debating and I are joking. I always attempt to offer an idea, that will feed the cornerstones of human leadership: knowledge, imagination, thinking. After all isn't that where our most critical needs lie ?


So it matters not, whom I debate with. If they offer intelligent observation. I will attempt to respond accordingly as well as quickly, knowing full well in most debates, few minds are ever changed and to be redundant; that the best one can hope for is an expansion of thinking.


I am however, extremely grateful, Contango like myself is retired, so he has time to debate, as well as teach me. Further, I am glad that we have become friends.


If you are not to busy. May I suggest you read the 'gold standard' of debating---- Shakespeare's speech he writes for Mark Antony to give over Caesars dead body.


It is magnificent ! Antony starts out praising Brutus to an adoring crowd. Then ends up igniting the Roman revolt with the crowd crying " Burn Brutus's house " Ah, if we all could debate that well. We wouldn't be having this conversation, would we ?


Great day to you

J Cooper

or get a room

Contango

Re: "room,"

In one of his books, Thomas Sowell gave me the definition of economics as the allocation of limited resources.

It's ALL interconnected.

Unfortunately, the level of knowledge in personal finance and economics in the (currently) wealthiest country in the world is pathetic.

Sadly, the continuing declining economic condition of Norwalk speaks volumes to that ignorance.

Cliff Cannon

Just finished reading your link from your Ross Perot reply. That was extremely interesting, as well as it obviously ties into your comment here .


" Unfortunately, the level of knowledge in personal finance and economics in the (currently) wealthiest country in the world is pathetic "


It really is. Although, I seriously doubt, the 'average' person ( myself included ) can possibly get a total grip on just how 'interconnected ' our economy is and not just from D.C. or 'Wall st. ' either. But rather from the entire world.


I for one am grateful, you at least try to help educate as many as possible on economics. So, please don't tire of that helpful task.


I still remember where I was when Bob Gerken told me way back when 'furniture' was going to be going off the 'piece rate' system. For the next few month's till contract negotiation's started, I begged and pleaded with him to change managements mind on this.


Of course, they didn't. We had a disastrous strike and in my viewpoint the company was not only never the same. I feel, that taking away 'piece rate' was the beginning of the end and have said so publically on many occasions.


Point being is that 'piece rate' pay is basic economics that not only built America,but everybody understands perfectly: The harder you work, the better you work. The more you make.


So if just one economic lesson could be taught our young or just as good --our business leaders. It is that one. Because turning a driven American loose, to make as much as he/she can, as fast as they can, is an economic lesson, that will always build great company's and great lives. ( So why isn't that widely taught today ? )

Contango

Though 'extremely' simplistic, my thought is:

If one understands and practices good sound microeconomics (household/personal finances), one has got a 'pretty good handle' on macroeconomics (local/national/world finances).

To refer to your paraphrased quote from the Book of Ecclesiastes (which I like and often use as well):

"What has been will be again, what has been done will be done again; there is nothing new under the sun." (Eccl. 1:9)

There are many charlatans who practice 'fancy footwork' with finances, govt. spending, investments, et. al, most of which boil down to:

If you don't understand it, you don't need to be investing (money, time, effort) in it; AND

If something sounds too good to be true, it probably is.

Cliff Cannon

Well put.

TakingCrap

Many of the people that were part of Epic 5 years ago now have a plant called Firsttronic in Grand Rapids, MI. I wonder if they would look into expanding into the Epic building. This would be a great opportunity because they already have the people with training. Mayor Duncan, if you are reading this, contact them and get in touch with other electronics manufacturers in the Northern Ohio, including companies that currently manufacture in-house. There is a distinct talent pool left in Norwalk that could certainly be bootstrapped to create a new company or provide already-trained labor for a new one.

joel882

In 2025....The Republic Street Mall.

DOWNinUPTOWN

This is really sad for Norwalk, condolences to those who lost thier jobs. On the other hand, those of you targeting Norwalk for this happening, think again its just not Norwalk it's our whole country. Think about it what makes a whole company like sony, whirlpool...up and move to another country and make their products there then pay to have them shipped right back to our country? You would think just the expense alone in shipping would detour companies from doing this. Obviously our whole country needs a change or soon no companies will make anything here.

FlyBoy86

The cost of shipping is much more now than it was 20 years ago. There is less competition in the Air and Ocean market.

Contango

Re: "The cost of shipping is much more now than it was 20 years ago."

True. Plus wages are rising in China causing us and them to re-locate production closer to or in the U.S.

http://www.forbes.com/sites/sing...

Kingsin

Does anyone know how many buildings are occupied (and how many are empty) in the industrial park anymore?

Cliff Cannon

@ Kingsin : I have been told, believe it or not; Currently, all buildings are occupied by 'something'

Kingsin

I can believe that Cliff- thanks for the info. I tend to imagine that many of these companies are probably rather small and compartmentalized within these facilities. I guess if they employ a few at a time it's better than nothing, and it surely beats having empty building left to disintegrate. It concerns me however if we were to see our industrial parkway turned into something resembling a flea market- not a good way to attract larger corporations. However, I give kudo's to those trying to make it in a very tough economy. Take care

Cliff Cannon

@ Kingsin : Amen !

Great night to you

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