NC furniture company, hailed in 2011 by Obama as a job creator, closing doors (UPDATED)

Posted by: ST on January 4, 2013 at 1:58 pm

Another one bites the dust:

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.

[…]

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.

It was a move that caught the attention of North Carolina officials and those in the White House. Last year, Cochrane sat with the first lady during Obama’s 2012 State of the Union Address. He also joined the president and other business leaders in a discussion about how to create more jobs at home.

Unfortunately, Lincolnton Furniture Company has been hit by the Obama kiss of death. And this is not the first NC company this has happened to, either.

I wish the Cochranes well in their future endeavors. Furniture making is a longtime industry here in NC, and I love visiting the various “furniture rows”, admiring the beautiful craftsmanship, and smelling the wood. Hopefully the Cochranes will give it another go in the future – if they’re smart, they’ll wait until our clueless wonder in the WH has finished his last term. By then, hopefully we’ll have a more business-friendly President whose knowledge about how to get an an economy growing is based on something other than the op/ed pages of the NY Times.

Update – 4:05 PM: Here are excerpts from Obama’s speech at the WH last January commending Lincolnton Furniture and other small businesses:

I don’t want the next generation of manufacturing jobs taking root in countries like China or Germany. I want them taking root in places like Michigan and Ohio and Virginia and North Carolina. And that’s a race that America can win. That’s the race businesses like these will help us win.

[…]

“But you don’t have be a big manufacturer to insource jobs. Bruce Cochrane’s family had manufactured furniture in North Carolina for five generations. But in 1966 — 1996, rather, 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 who had shifted their production. While he was there, though, he noticed something he didn’t expect: Their customers 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 that had been shut down. He’s even re-hired many of the former workers from his family business.

Video below:

Sigh …

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8 Responses to “NC furniture company, hailed in 2011 by Obama as a job creator, closing doors (UPDATED)”

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  1. Drew the Infidel says:

    Call it “kiss of death” or reverse Midas touch, whichever, the bottom line is Obhammud is bad for business. Remember when he touted Solyndra as the shape of things to come? And that diner at which he ate on a campaign stop that soon went belly-up? When business owners see this guy coming they should take it as their fair warning the way ordinary citizens heeded theirs in Biblical times when approaching lepers.

  2. Great White Rat says:

    The company was not receiving the orders it needed to sustain its operations, Causey said.

    And there’s the crux of the matter.

    Now, show of hands, please….who thinks the company would have received more orders this year when people and businesses have even less money for furniture because of Obama’s tax increases and Obamacare costs?

    No one? OK, Zach maybe, but we’re talking about the real world here, not the socialist Utopia fantasy world he lives in.

    Anyone who’s even mildly familiar with Econ 101 can see the effects of these policies. But trying to explain basic economic principles to a leftist is like trying to explain the rules of football to a chicken. And the chicken would do a better job of improving the economy than Obama because the chicken wouldn’t mess around with it.

  3. Carlos says:

    My guess is that CFO Ben Causey punched in the real numbers and realized that healthcare costs would be prohibitive, talked some sense into Cochrane, and they couldn’t get an exemption because they weren’t major donors to Teh Won’s campaign.

    Kiss of death, indeed!

  4. Carlos says:

    Maybe we can start a running log of companies that have been “KOD”ded (“Kiss of Death”ed) by this administration? It would be interesting to see how long it would become, and just how much taxpayer money went down each rathole, and just how much of that taxpayer money ended up in Democrapic coffers (and Obhammed’s pockets).

  5. Tom TB says:

    0bama’s Midas touch has been on the industries he wants to severely restrict or ban if he can get the votes…GUNS! He has sold more firearms, magazines, and ammunition than any other President!

  6. Polly says:

    Owner Bruce Cochrane is missing a sure bet. Quit making that dumb furniture (no one can afford it any way) and start making solar panels. Obozo will surely dump $500 million dollars on your company. Why not? He is doing it for others.

  7. Carlos says:

    Yeah, but Cochrane won’t dump $100M back into Obama’s “campaign” coffers (defined as “his personal bank accounts” when he leaves office, if he ever does leave the presidency) like the unions do, Polly, so the chance of him ever getting a penny of support from the Liar-in-Chief is somewhere between zilch and non-existent.