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Liquidation


Greg Bell

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Company meeting today, owner stands up and tells us as of today we are shutting down. No way to fund continued operations and the company will be liquidated. I really should have seen this coming, 6 years ago we were over 500 employees and in reality have been on a steady decline since those days. We even off-shored a ton of tooling work to China and still couldn't make a go of it. I feel like an idiot for sticking it out with this place. Last one out of Michigan shut out the lights.

160 people out of work no notice

19 years down the tubes

On the bright side I was asked to stay on for a few weeks and help wrap up operations

Anyone have an IT team in need of leadership?

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That seriously sucks, to put it plainly and I'm truly sorry to hear about it. I went through something similar 7 years ago (dot com bust, anyone?), but somehow salvaged life through a bizarre string of occurrences. I hope you're able to make something good out of the situation even though it'll be tough.

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Your employer may have violated your rights under the WARN ACT.

Check under the US Department of Labor web site

MVZ

They weaseled on that with legal double speak. This was absolutely the soonest they could notify us as they were negotiating all other options right up to this morning. Whatever :angry2:

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Good luck to you man!

Many times those events turn into doorways to something new and better.

At the end of the day, we all work for ourselves and our families. Always do more than expected of you in a job, but loyalty to a company is misplaced. If it's best for the company, your head will roll. Look out for yourself.

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My wife went thru the same thing last year except they notified her 2 weeks before christmas. They had a meeting on teusday and informed everyone that as of friday that was it. They kept her on because of the accounting required( she performed billing) and told everyone else seeya. The original owners son took over the business 2 years before and it took that long to ruin the business. Not a small feat either as this company did 35 million a year in business. It totally trashed any christmas cheer we could have had and made her wonder about her self worth as she felt she let me down. I supported her and got in touch with friends and other business contacts and she had her a new job in less than 30 days. Keep your chin up and start using your contacts to find a better job. It may end up being the best thing for you in the long run.

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Try this one on: Having your board of directors president walk in and ask you to pack up and leave within the hour. Now, there's some Shock 'n Awe for ya. Mostly shock. That's happened way more than once to this lady. :wacko:

Michigan, I hear, is suffering from that Giant Sucking Sound. :sick:

Greg, I'm so sorry about your job loss. It's one of the greatest discomforts there is. I know it intimately. :(

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Your employer may have violated your rights under the WARN ACT.

Check under the US Department of Labor web site

MVZ

They weaseled on that with legal double speak. This was absolutely the soonest they could notify us as they were negotiating all other options right up to this morning. Whatever :angry2:

That's almost exactly what my previous employer said too, but we still brought a successful class action suit against them.

Sincerely, don't take their word on this. Do a search on the WARN act and consult with one of the firms whose tracks you'll cross. ;)

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This is one of the tightest labor markets in years. It's so tight that even **I** am employable, and I'm unemployable. (Just ask any of my previous employers.)

Put out the resumes and you *will* have offers in short order. It's virtually impossible to find good people right now. 6 months from now, I believe that will *NOT* be the case, so you decide if you really want to get embroiled in some lawsuit or you just want to move on and be employed.

I'm very sorry to hear about losing your job. Been there, done it. Just remember, it's what you make of it that matters. Things happen for a reason. ;)

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....so you decide if you really want to get embroiled in some lawsuit or you just want to move on and be employed.

These are not mutually exclusive actions. I was employed again long before the action was settled.

And I didn't feel the least bit "broiled". :)

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Good luck, Greg. Hang in there. My experience in life tells me that sometimes when a door slams on you this way, another has opened up and is justing waiting for you to find it... I hope you find a good one standing open for you!

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Good luck, Greg. Hang in there. My experience in life tells me that sometimes when a door slams on you this way, another has opened up and is justing waiting for you to find it... I hope you find a good one standing open for you!

I'm getting good tips and ideas for opportunities, we'll see who it pans out.

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