Incomplete list of residential and commercial construction industry job destruction that took place, or were announced, from January to March 2015:
“The number of future foreclosure auctions scheduled in January continued to increase in many states, foreshadowing more foreclosure spring cleaning to come in the next several months…”-RealtyTrac
According to the National Association of Counties, only 65 out of 3,143 counties across the United States have “fully” ‘recovered’ since 2008!!!
Internet based commercial office space seller 42Floors laid off at least 14 people in the cities of New York and San Francisco. The company halted its commercial real estate brokerage ops and will focus on providing internet searches and listings only: “Over the past few months, 42Floors has experimented with being a brokerage in addition to being a commercial real estate data and search website. We’ve decided today to stick with what we’re best at…”-Jason Freedman, founder
Alabama: After 25 years Applebee’s shutdown their Brookwood Village restaurant. The Texas based property owner refused to renew the lease with the restaurant.
Alaska: The U.S. Census Bureau reports 10,137 people left the state from July 2013 to July 2014!
Arizona: The Grand Canyon State lost 43-hundred construction jobs in 2014, the most in the U.S.! The Associated General Contractors warns that even more jobs will be lost in 2015. RealtyTrac says foreclosures jumped 100% from December 2014 to January 2015! The city of Phoenix now has a 22% office vacancy rate, or more than one in five! In Tucson, after ten years The District Tavern shutdown, it’s blamed on jacked up rent.
California: The U.S. Census Bureau reports a net of 32,090 people left the state from July 2013 to July 2014! RealtyTrac reported a sudden jump in foreclosures by the end of January. In Los Angeles County 1,231 homes were foreclosed on. Agoura Hills based InterThink sold off its mortgage division, resulting in at least 70 people being laid off. In Santa Barbara, after six years the Bizerk Costume Store shutdown, the owners blamed the greedy landlord, LYNX, for giving them a 30 day eviction notice (instead of the required 60). Local news sources say LYNX administrators refused to say why they kicked out their tenant. Bizerk co-owner says its all about jacking up the rent: “At the rates that are being charged on State Street, I think it’s very possible that a lot of chain store business might be taking a loss. I know someone who is a manager at Abercrombie & Fitch on State Street who said they lose $200-thousand a year…..!”-David Sampanis
Connecticut: The U.S. Census Bureau reports at least 2,664 people left the state from July 2013 to July 2014! In Wallingford, Acuity Brands Lighting issued a shutdown for April, 93 jobs lost.
Florida: In Jacksonville, Too Big to Jail Bank of America Mortgage issued a layoff WARN for April saying 69 people will be laid off. JPMorgan Chase Mortgage rendered 163 people jobless! In Dania Beach, Boomers! Greater Ft. Lauderdale amusement park shutdown and being forced to liquidate by greedy property developers. Taxsucking developer of so called affordable housing, Aburn Trace, is now chapter 11 bankrupt busted! This could mean no chance of recovering any taxpayer funding the company got. It’s blamed on numerous lawsuits filed by and against home developers, banks and even the federal government! (classic cluster f*ck with taxpayer and investor funds) In Plantation, the Fashion Mall chapter 7 bankrupt busted and now up for sale. The mall has been vacant since 2007!
Georgia: Maker of concrete reinforcing steel Insteel Industries shutdown their Newnan factory, 20 jobs lost. They are consolidating ops as part of their takeover of American Spring Wire.
Hawaii: The U.S. Census Bureau reports a net of 5,141 people left the state from July 2013 to July 2014! The Children’s Place clothing store in the GGP owned Ala Moana Center shutdown. Store administrators say they couldn’t afford to renew the lease.
Idaho: Washington based wood products company Plum Creek Timber sold-off its Meridian remanufacturing factory, at least 61 jobs lost. According to National Association of Counties most recent data eastern Idaho’s Bannock County has failed to make any recovery in the areas of Jobs, Unemployment, GDP or Home Prices since 2008! Never mind that Bannock County is still assessing the value of homes at tens of thousands of dollars above what they will actually sell for!
Illinois: The U.S. Census Bureau reports a net of 94,956 people left the state from July 2013 to July 2014! In Chicago, housewares retailer Crate & Barrel laid off under 30 of its HQ employees. Administrators admit they don’t see any economic recovery happening, saying they need “to align our work force with our future business strategies.” Employees went public and revealed that the Ace Hardware on East Oakton Street, in Des Plaines, shutdown. RealtyTrac reports that foreclosures for January 2015 beat out foreclosures for January 2014. In Cook County there was a 24% increase! After 26 years Soapy’s laundromat being shutdown by greedy property developers.
Kentucky: Remke Markets announced they could not afford to renew their lease on their Newport grocery store and shut it down, 58 jobs lost. In Louisville, Cunningham’s Restaurant shutdown without warning, 30 jobs lost. The property is for sale, but the current lease is good until 2022. Gatti’s Pizza shutdown their Westport Village Gattiland restaurant, the owners blamed the greedy landlord: “The lease is expiring, and after months of attempting to negotiate with the landlord, a satisfactory agreement has not been reached.”
Massachusetts: It may have survived the Marathon bombing but it can’t survive the Boston Weak property owners; the iconic FORUM Bar & Restaurant shutdown, the owner blames evil property owners for killing it off: “After the tragic events of the 2013 Boston Marathon….four long months of reconstruction…bureaucracy…the current real estate climate on Boylston Street has motivated FORUM’s landlord to raise rent…nearly three times our current rate…makes it financially impossible…”
Michigan: The tax auctions of homes in Detroit are now considered failures. In 2014, 394 homes were put up for auction, but by January 2015 only 138 auctions actually sold! In Grand Rapids, after 14 years Louis Benton Steakhouse shutdown with a one day notice, 35 jobs lost. It sounds like the landlords have other plans for the property.
Minnesota: In Morris, the owners of Cullen’s Home Center shut it down: “It’s just a number of different factors and we feel terrible about it, obviously it was the last thing we wanted to do…”-John Cullen
Barnes & Nobel shutdown its 20 years old Saint Paul Highland Park book store, not because the store wasn’t making money. The store was shutdown by the greedy landlord. Barnes & Noble administrators are looking for a new home: “We are diligently working on a new store offering…There’s nothing immediate. In fact, I can honestly tell you, we have not selected any locations for a new store offering, but we’ll probably look to that by the middle of 2015″-David Deason
Missouri: Ten years old Town & Country Masonry and Tuckpointing now chapter 11 bankrupt busted. Texas based Romano’s Macaroni Grill forced to shutdown all their Saint Louis restaurants, and one in Columbia, due to greedy property owner! Employees had no warning, it turns out the property owner made a secret deal with evil Christian Chick fil-A back in September 2014!
Nebraska: After 37 years, the new owner of Duggan’s Pub (formerly Sam’s Pub) shut it down. The new owner is a property developer. In Lincoln, after nearly 60 years Baker Ace Hardware shutdown by the greedy property owners who sold the property to an apartment developer.
New Jersey: Atlantic City reports that property values have crashed 35% since last year!
New Mexico: The U.S. Census Bureau reports a net of 14,154 people left the state from July 2013 to July 2014!
New York: The U.S. Census Bureau reports 153,921 people left the state from July 2013 to July 2014! In Rochester, Too Big to Jail JP Morgan Chase issued a WARN saying they will shutdown their mortgage ops in June, 390 jobs lost! In NYC, Homes for the Homeless issued a shutdown WARN saying 34 people will become jobless in June. Too Big to Jail Bank of America announced that 53 people will become unemployed as they shutdown their Jericho mortgage office. In Alden, building contractor Gamma North issued a layoff WARN for April, saying they will layoff 81 of their 99 employees. Administrators also admitted they already started layoffs back in January.
North Carolina: In Wilson, bathtub maker Bathcraft announced they will shutdown in May, 87 jobs lost. HR director Sandy Moore directly blamed the crashing housing market. Bank of America Mortgage laying off 250 people in Charlotte! Apparently that’s on top of the 540 layoffs announced back in June 2014! Monument stone provider North Carolina Granite laid off 28 people. The 125 years old (surviving the Great deflationary Depression and numerous recessions) company has been laying off people since the early 2000s, reports say they are down to only 97 employees. RealtyTrac ranks North Carolina number 10 for zombie foreclosures (foreclosure of abandoned homes), at 3,177 by the end of January! In Franklin, hardwood flooring maker Shaw Floors laid off 25 employees.
Ohio: After more than 70 years Springboro Hardware shutdown. Florida based Trulite Glass and Aluminum Solutions shutdown their Hebron factory, as a result of taking over a competitor, 70 jobs lost.
Oklahoma: In Sand Springs, after 59 years Morrow-Gill Lumber Company shutdown. The family owners say they’ve had the business up for sale, but nobody wanted to buy it.
Oregon: Ochoco Lumber shutdown their 2nd shift at their Malheur Lumber plant, just seven months after starting up the 2nd shift. About 90 jobs affected. Administrators admit they overestimated sales. Ochoco Lumber had also sold off $18.5-million USD of their land to pay for upgrades to their Malheur Lumber factory.
Tennessee: In Nashville, after 18 years Fiddle & Steel Guitar Bar shutdown. The property was sold off to a hotel developer.
Texas: In Angelina County, T&B Construction Services laid off 20 people, blaming the oil industry for reducing the number of planned construction projects. Local Angelina County judge Wes Suiter summed up the bad economy thusly: “The hits just keep on coming!”
Utah: The U.S. Census Bureau reports 1,235 people left the state from July 2013 to July 2014!
Virginia: In Norfolk, Too Big to Jail Bank of America laid off 200+ people in their mortgage servicing division! In Culpeper, the owner of 109 years old (surviving the Great deflationary Depression and numerous recessions) Clarke Hardware announced he must shutdown by June. News reports say the owner wants to retire, but the owner blames the local Masonic Lodge, who owns the property: “They told me last Wednesday that I have to be out by the end of June. They want the building to renovate. They plan to split it into two sections to get more rent.”-Claude Minnich
Washington DC: The U.S. Department of Commerce reports new U.S. home construction fell 2% from December 2014 to January 2015. Home sales fell 6.7%.
West Virginia: The U.S. Census Bureau reports 3,269 people left the state from July 2013 to July 2014!
Wisconsin: Too Big to Jail Wells Fargo will layoff 1-thousand people when they shutdown their Milwaukee home loan service center this summer! And Wells Fargo reported a $23.1-billion profit last year! Lighting company Orion Energy Systems laid off 40 people. Company administrators said of the economy “The issues we face today are far more complex.” In De Pere, Furniture and Appliance Outlet being shutdown due to “The building has been a challenge to operate since the storefront itself got blocked by highway construction.”
Last six months of 2014: “Everybody wants a better outcome, everybody but the landlords.”
WARN=Worker Adjustment & Retraining Notification
The U.S. Department of Labor (DoL) doesn’t count the hundreds of layoffs involving less than 50 people each, in its mass layoff reports. It also doesn’t count all the little ‘mom & pop’ businesses that shutdown. It doesn’t count people who get a severance for being laid off.
