According to the National Bureau of Economic Research, the Recession was over June 2009 and was touted by the White House as the “results of the stimulus package”. Try and tell that to Chromalloy Nevada of Carson City. In fact , ask almost anyone in Nevada if they received that notice. (other states may have received one, but doubt it).
According to the Nevada Appeal, Chromalloy employed as many as 540 people , with two plants, making it the largest employer in the Carson City area. The first Round of lay-offs occurred for 75 people, 6 days before Christmas in 2008. The mystery comes into play when we were told the Recovery started in June 2009, but because Chromalloy did not get the memo, they laid off another 91 folks on 9-11, 2010. We have got to get a better system of information because Chromalloy, bucking the “Recovery Trend“, added another 41 workers to the dismal Nevada Unemployment Line on Thursday June 9, 2011.
Chromalloy is a global company who services the airline and military industry as an independent supplier of FAA approved parts for overhaul, maintenance, and replacement in gas turbines. The facilities in Carson City have 160,000 square feet and with forward thinking, they installed a casting foundry in 2001 to improve it’s global outreach. My question is , if these folks are involved in the maintenance of our commercial fleets of jet engines, and they keep laying off folks, does this mean the inspections and maintenance of those jets are being cut back as well ? I’m saying that if the demand is not there for the turbine maintenance, has it been “postponed” in cost cutting measures by airlines ? Just Askin’. Here is a very encouraging direct quote from the NBER:
“Economic activity is typically below normal in the early stages of an expansion, and it sometimes remains so well into the expansion.”
Maybe it’s me, but are they referring to the Expansion of the Recession or the Expansion of the Recovery.? I’m Confused.