Financial Reform Bill Passes: Banks Keep Derivatives Units, Volcker Rules Softened; House-Senate Conference Passes Financial Reform Bill After Marathon Session

Whatever happened to Candidate Obama promise to remove the incentives from offshoring Americans' jobs?: Once in the White House, President Obama shelved the proposal.



The Whirlpool plant in Evansville, Ind., is closing this week after more than 50 years:



==EVANSVILLE, Ind. — Having seen her father make a solid living at the Whirlpool refrigerator factory, Natalie Ford was enthusiastic about landing a job there & was happy years later when her 20-year-old son also went to work there.



But that family tradition will soon end because Whirlpool plans to close the plant on Friday & move the operation to Mexico, eliminating 1,100 jobs here. Many in this city in southern Indiana are seething and sad — sad about losing what was long the city’s economic centerpiece & a ticket to the middle class for one generation after another.



“This is all about corporate greed,” said Ms. Ford, who took a job at Whirlpool 19 years ago. “It’s devastating to our family & to everyone in the plant. I wonder where we’ll be two years or four years from now. There aren’t any jobs here. How is this community going to survive?”



At a time when the nation’s economy is struggling to gain momentum, Whirlpool’s decision is an unwelcome step backward. It continues a trend in which the nation has lost nearly six million factory jobs over the past dozen years, representing one in three manufacturing jobs..==



http://www.nytimes.com/2010/06/20/us/20whirlpool.html
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