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Essay / Research Paper Abstract
This 3 page paper examines an article published in 2009 in Business Week. No bibliography.
Page Count:
3 pages (~225 words per page)
File: RG13_SA104art.rtf
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Unformatted sample text from the term paper:
Norwalk, Ohio, explains that while one year ago, 300 people worked at the place, and produced hundreds of pieces of furniture each day, the head count is now just 59
(Byrnes, 2009). The article goes on to explain that it is amazing that the factory is still in business due to steep competition from China (Byrnes, 2009). Indeed, the article
outlines what went wrong over the years and why it still stands at all. The author explains that such companies really make a difference in helping to employ Americans (Byrnes,
2009). Both small and large businesses do struggle to cope with slowing sales as well as a lack of credit (Byrnes, 2009). The tightening of credit has hurt many industries
(Byrnes, 2009). The fact that The Norwalk Custom Order Furniture factory managed to survive is quite impressive (Byrnes, 2009). The company was founded at the start of the twentieth century
when an upholsterer by the name of Charles Edward Gerken would make a chair for his son and over the next several decades would go on to create a number
of different furniture companies (Byrnes, 2009). Each company was involved in something else from exporting product to making low end furniture (Byrnes, 2009). Earlier in the decade, foreign competition hurt
the furniture industry and China is especially important in this scenario (Byrnes, 2009). The downsizing of the firm was something that seemed inevitable, given the state of the economy
and the competition. Yet, the article goes on to explain that the cousins who were running the company at the time used credit to keep the business alive (Byrnes, 2009).
In retrospect, it was not a very good thing to do (Byrnes, 2009). Bill Gerken says that he and his cousin were at fault (Byrnes, 2009). Early in 2008, Norwalks
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