Friday, February 5, 2010

Death of U.S. Manufacturing to Bring U.S. Downfall?

Lynn Tilton, the CEO of Patriarch Partners, believes that if manufacturing in the United States dies, the nation will go down with it. Although many think of the United States as being based on the service industry Tilton mentions in an interview with TechTicker that most empires have fallen due in part to the death of the nations' manufacturing. She notes that U.S. manufacturing makes up 12% of the United States' economy and that many people in that industry are not able or meant to work in the service industry, therefore a manufacturing downfall would lead to the unemployment of many more millions of Americans, which will ultimately harm the rest/all of us.

Tilton has noted that it will be extremely hard to convince manufacturers to stay in the United States, especially when they can go to a third world nation for much cheaper, but she adamantly tells that it can be done with a little innovation. Hopefully companies will heed her words and try to keep manufacturing in the U.S.

1 comment:

  1. Then why is she sending her manufacturing to Mexico?