Author Topic: Waterford Crystal  (Read 1577 times)

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Offline twenty_zero_six

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Waterford Crystal
« on: November 26, 2007, 05:35:06 PM »
More bad news, whats happening to the Glassware market? Hardly surprising given the exchange rate at the moment.

http://www.rte.ie/news/2007/1121/waterford.html?rss



Offline Frank

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Re: Waterford Crystal
« Reply #1 on: November 26, 2007, 06:32:56 PM »
No great surprise and they would have known this situation was likely when they bought Edinburgh Crystal trademark. I expect that if the unions don't agree to the changes that they will simply ramp up Edinburgh Crystal production via wherever they are having that made now. This is just modern business methods at work. Directors bonuses depending on sales not production centres.
Frank A.
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Offline Ivo

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Re: Waterford Crystal
« Reply #2 on: November 26, 2007, 07:07:21 PM »
This is just modern business methods at work

Not quite sure what you mean by 'modern'. Businesses fail and get taken over, for whatever reason. It is neither surprising nor reproachable, and certainly not a novel process. It is the nature of a dynamic industry and has always been like this. 
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Offline Frank

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Re: Waterford Crystal
« Reply #3 on: November 26, 2007, 10:50:28 PM »
Due in part to high labour costs there is very much a different approach. Holland has a system whereby companies find unloading staff an expensive business - although this is legally enforced and very much under attack. Of course there are abusers on both sides and some dirty methods used to get by the laws. In England the employers have it good, with virtually no moral nor legal obligation towards staff remaining. Not all exploit this and of course there are a plethora of complex issues. I have no knowledge of the Irish employment law but was puzzled that this announcement follows so close on an acquisition.

Contrast this with the sale of a company in the thirties:
Quote
He has been particularly anxious to safeguard the interests of the thousands of friendly customers who had given loyal support to his old firm during three generations and also to find positions for his skilled and efficient staff.
“I am glad to announce,” he said, “that a most satisfactory arrangement has been come to with my old friends, Messrs.  ....

A dead attitude? Not completely, American business take staff obligation quite seriously but then there is a whole different philosophy at work there.

Yet, only last week UK government were talking about introducing voluntary codes for private equity firms - the reason being given that it is now private equity that is taking over firms for asset stripping purposes and because of their status can keep it completely out of the public eye.
Frank A.
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Offline twists

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Re: Waterford Crystal
« Reply #4 on: November 27, 2007, 10:25:29 AM »
 :-[
Sad news indeed.
 My  husband  trained at  Wedgwood  Kings Lynn many years ago. Glass Makers are passionate about what they do ,its not a job but a way of life for them .


Offline Frank

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Re: Waterford Crystal
« Reply #5 on: November 27, 2007, 10:53:52 AM »
Europe has lost many of its glass-cutting enterprises. It is a pity that interest which appears to be re-kindling amongst collectors is losing its sources - Baccarat, Riedel and Moser must be feeling the same pinch too. Who else is left?
Frank A.
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