According to the CPI inflation calculator, $900,000 in 1973 had the buying power of over $5,000,000 in 2018. |
Hopedale History April 15, 2019 No. 369 Foundries to Shut Down Hopedale in March Hopedale in April
<><><><><><><><><><> On account of the increased number of pupils, one more teacher was engaged for the High School after the opening of the fall term. The school now has five teachers beside those teaching special subjects. This number should make it possible for the classes in nearly all subjects to meet five times per week, and for the teacher in each subject to be one who has had a major training in the subject she teaches. Carroll H. Drown, Superintendent of Schools, 1923 <><><><><><><><><><> Twenty-five years ago - April 1994 - Rwandan President Juvénal Habyarimana and Burundi President Cyprien Ntaryamira die when a missile shoots down their jet near Kigali, Rwanda. This is taken as a pretext to begin the Rwandan genocide. The Red Cross estimates that hundreds of thousands of Tutsi have been killed in Rwanda. South Africa holds its first fully multiracial elections, marking the final end of apartheid. Nelson Mandela wins the elections and is sworn in as the first democratic president. Fifty years ago - April 1969 - Dr. Denton Cooley implants the first temporary artificial heart. The Harvard University Administration Building is seized by close to 300 students, mostly members of the Students for a Democratic Society. Before the takeover ends, 45 will be injured and 184 arrested. Charles de Gaulle steps down as president of France after suffering defeat in a referendum the day before. News items above are from Wikipedia. For Hopedale news from 25, 50 and 100 years ago, obtained at the Bancroft Library, see below this text box. <><><><><><><><><><> Hopedale Foundries to Shut Down Milford Daily News April 11, 1975
it will shut down two Hopedale foundries, eliminating about 500 jobs. Phasing out the new, multi-million foundry, and the regular factory works will begin immediately, a company spokesman said today. The latest action at the Weaving Machinery Division will cut the work force from a one-time high of over 3,000 to approximately 1,300 company officials said. John J. Baughan, vice-president and general manager of the Hopedale plant, said in a prepared statement this morning, "Phase-out of foundry activity will begin immediately and will take about four months to complete." "In reviewing and assessing the market, Baughan said, "it became apparent that a consolidation had to be made to make the machining and assembly portion of the Hopedale plant competitive in the domestic and foreign markets of the textile machinery business." The general manager added that in addition to the two Hopedale foundries, the company operates steel works in Spartanburg, S.C. and Reading, Pa. The four foundries, Baughan said have been operating at only 50 percent capacity in the last few months.
now on the sale block. Baughan added in his statement, "The Hopedale foundry patterns will be transferred to the two other plants, which are better equipped to handle short production runs and job lots. By making this move now, we hope to gain a greater share of the domestic market and expand our sales in foreign countries. In this way we should be able to create new job opportunities in our remaining manufacturing activities," he added. Today's announcement came as no surprise to many workers at the plant, who have heard rumors circulating in recent weeks. The closing of the foundries also follows about 350 other general layoffs in a six -month period. Many departments in the former Draper plant have also been forced to go on short work weeks. Prior to today's action, employment has been around the 1,800 mark, the company said. "Division management will be working with local employers and government agencies to identify job opportunities and provide other assistance to employees affected. Within the last several months the company has approved major capital investments in new equipment for the Hopedale facility. This will further improve manufacturing efficiency and insure continued job opportunities for our employees. Hopedale employees have been informed of these decisions and plans," added Baughan. The move by Rockwell appears contrary to statements released in a story early in March. At that time, James Chandler, personnel director, said the plant was adjusting to economic conditions, but "here to stay." There was speculation throughout the plant today that the entire facility would be closed sometime in the future. Officials told the Milford Daily News, "The plant might not close this year, but most of the workers feel certain operations will be fully phased out in time." Chandler said in the March 14 story, "We are investing millions of dollars in the plant, installing new equipment as part of a modernization program. There are no plans to close the entire factory," he added. The Hopedale factory is a division of the giant Rockwell conglomerate. The Weaving Machinery Division manufactures loom, parts and accessories. Draper Menu Ezine Menu HOME . |
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