[Phil A]

Here's an old company profile and an article about job losses.  With at least 50 jobs lost, it's not something I think is a pleasant outcome.


http://www.manta.com/c/mmfzbvr/b-k-components-ltd


http://www.brighthub.com/money/personal-finance/articles/85577.aspx

[jackman]

Here's an old company profile and an article about job losses.  With at least 50 jobs lost, it's not something I think is a pleasant outcome.


http://www.manta.com/c/mmfzbvr/b-k-components-ltd


http://www.brighthub.com/money/personal-finance/articles/85577.aspx

Hi Phil,

I agree with your comments.  It's hard to find any joy in people losing their livelyhood, especially in these difficult times.  Every job loss has a profound affect on families and communities.  These guys were based in Buffalo, an extremely depressed area.  I don't know anything about theft of intellectual property and will not comment on it because it's a moot point.  It looks like 50-70 people are out of work as a result of B&K's closure.  Very sad. 

[jtwrace]

ATI Electronics to take it over from bank.

http://stratecongroup.com/1010aw2ati2acquireBK.aspx

D

See post #1

[Phil A]

Hi Phil,

I agree with your comments.  It's hard to find any joy in people losing their livelyhood, especially in these difficult times.  Every job loss has a profound affect on families and communities.  These guys were based in Buffalo, an extremely depressed area.  I don't know anything about theft of intellectual property and will not comment on it because it's a moot point.  It looks like 50-70 people are out of work as a result of B&K's closure.  Very sad.

Regardless of the character of the owner or owners (or founders), there's the guy (or gal) working hard lifting stuff in the shipping department paying taxes.  There's the person working in accounts payable, accounts receivable, etc.,.  These people all have bills/financial obligations and to remove them from the taxpaying workforce does nothing positive.  The owners are the ones who probably are in the best financial shape and have made contacts over the years and probably are in a better position to regain active employment.

[poseidonsvoice]

Regardless of the character of the owner or owners (or founders), there's the guy (or gal) working hard lifting stuff in the shipping department paying taxes.  There's the person working in accounts payable, accounts receivable, etc.,.  These people all have bills/financial obligations and to remove them from the taxpaying workforce does nothing positive.  The owners are the ones who probably are in the best financial shape and have made contacts over the years and probably are in a better position to regain active employment.

I quite agree Phil. Excellent points. Plagiarism isn't the only issue here, it's the many livelihoods lost. Buffalo is a very economically depressed area, having lived there for 3 years. They work for a little more than minimum wage, and just enough that they don't qualify for Medicaid and thus fall between the cracks where they have to pay huge premiums when they may or may not utilize medical services. That's tough and unfair. I saw it all too often in Buffalo. Other places include Cleveland, etc...

Anand.

[Phil A]

I've never been to Buffalo but have been to other places in upstate NY and old manufacturing towns in CT and the midwest and it is really sad to see a once vital area in a state of decay.  I grew up in a big city and have had the opportunity to see first hand the decline of geographic areas.  I'm in an area now that see much less of the problems that have been faced in other areas of the country and it is really tough in those areas where there are either no replacement jobs or they are few and far between.  It leaves an impact that lasts a long time.

[Stu Pitt]

Agree with everything you've said Phil.  Whatever the execs did is irrevelant to the real force behind the company.  Same can be said for the entire country.  I have no pity whatsoever for the execs at these financial institutions and car manufacturers who ran their companies into the ground.  And somehow they got their bonuses that we as taxpayers (who couldn't really spare the money) paid for.  In the end the ones it hits hardest are the people who are struggling to make a living and lose their jobs because the idiots at the top made a mess of everything.

Business going under aren't good for anyone.

As a side note, I went to grad school at Niagara University in Niagara Falls, NY.  Talk about a depressed area.  Buffalo seemed pretty prosperous, relatively speaking.

[Phil A]

Stu, that is a perfect example - the auto industry.  Look at this article on Detroit now (below).  The average house price ($7.5k) is less than some of the components we discuss on this board as no one wants to live there.  No one seems to want to recognize the workers in some of these companies suffer the most and are the ones often left out in the cold with little chance of similar employment where they live.  That is why after the initial news post I noted what a sad an vicious cycle this B&K story is.  The jobs in Buffalo are gone.  Other jobs in Buffalo take a beating too.  Customers don't get the type of support they would like.  Suppliers in other areas lose out.  Dealers sitting with inventory already going through rough times have another bitter pill to swallow.  There are just so many ripples.

http://www.businessinsider.com/worstcities/americas-most-depressing-places-detroit

[tedg]

As a former B&K owner, I'm sad...for the former employees.

http://stratecongroup.com/1010aw2ati2acquireBK.aspx

PLEASE NOTE: As the owner of The Stratecon Group website, please note that the article mentioned above is no longer available at the above link. We have changed our website to a new address: www.strata-gee.com.

THE NEW ADDRESS for this article is now> http://www.strata-gee.com/2010/10/13/electronics-manufacturer-ati-to-acquire-bk-components-from-bank/

Sorry for any confusion.

Ted Green