Wednesday, June 25, 2008

The Death of Westinghouse

The Death of Westinghouse

A good example of what CEOs are doing to America...

"Who Killed Westinghouse?"

When the end finally came, Westinghouse Electric Corp. vanished not with a bang, but a whimper.

On Dec. 1, the day the 111-year-old Pittsburgh conglomerate became CBS, three dozen retirees and employees, many of them on break, gathered on the granite steps outside the 23-story headquarters to bemoan their loss and castigate Chairman and Chief Executive Officer Michael Jordan. That was about all the indignation the local populace could muster.

Perhaps Pittsburghers have become immune to layoffs and corporate vanishing acts. Or maybe they realize things might not turn out so badly for the 6,300 or so local workers at the remaining Westinghouse divisions, which are slated to be sold by the end of this year...

The conglomerate that 30 years ago was composed of 172 divisions is now down to three: nuclear energy, process control and government operations.

It's expected all three will be sold by the end of summer...

Also see: Westinghouse Electric (wikipedia)

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