Really? Toolmaker merger puts O.C. jobs at risk

November 3rd, 2009, 6:00 pm · 4 Comments · posted by Jon Lansner

The merger of Stanley Works and Black & Decker — two giants in tools and home-improvement supplies — puts into question the future of B&D’s Orange County operations that include headquarters for B&D’s Kwikset lock and Price Pfister faucet brands in Foothill Ranch …

Deal ends a 28-year courtship (NY Times) MORE HERE!
No rough edges on Stanley’s deal (Breakingviews.com) MORE HERE!
The Chicago Tribune’s take, Stanley’s hometown paper … HERE!
The Baltimore Sun’s take, B&D’s hometown paper … HERE!
Black & Decker CEO Nolan Archibald’s letter to employees (Baltimore Biz Journal) HERE!
B&D Timeline (Baltimore Sun) HERE!
B&D bonds due for an upgrade (Reuters) MORE HERE!

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BOGEY says:

November 3, 2009 at 9 pm

No surprise since the cost of doing business in OC has exceeded the ability to generate a reasonable return. That’s why businesses are going BK, shutting down or simply relocating to other States and taking the jobs with them.

Nice weather only gets you so far in the new-normal economy where HELOC ATM machines do not exist.

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TheAllKnowing says:

November 3, 2009 at 11 pm

Price Pfister used to operate the largest foundry west of the Mississippi here in southern Californa. Now all of their products are made in China. No brand differentiation anymore since all of the faucet makers are basically just resellers for China.

Kwikset used to employ thousands in Anaheim with their local manufacturing plants. Now nothing is produced there. Just like how they shut down their Bristol, OK plant. Everything is now China crap.

My vote is to let them go belly up. All they do is stamp their name on generic China products anyhow. They don’t add any value whatsover. In fact, just the opposite. We should just buy direct from China and cut out the middle man, e.g. Black & Decker & Kwikset.

Oh, and Nolan Archibald wasn’t called a “bottom feeder” for nothing by Yahoo’s financial website. That crook sold over $20,000,000.00 in B&D shares in the $90 range just before it tanked down to the $20 range. Talk about insider trading. The guy has been investigated in the past by the SEC and should be again.

Burn in Hell, archibald; burn in hell.

Josh says:

November 4, 2009 at 9 am

Stanley Works is headquartered in New Britain, CT, so how is the Chicago Tribune their hometown paper?

Slice	Price	Ch.	Sold	Ch.
House	$495,000	+4%	1,841	+3%
Condo	$304,000	+3%	845	+8%
New	$500,000	+4%	150	-26%
All OC	$430,000	+2%	2,836	+2%

Orange County Register