Ailing Factory Towns Face Tougher Road To Recovery
A March sampling of laid-off factory workers in the area found 44 percent had less than a high school diploma, 47 percent needed health care benefits and 33 percent needed mortgage or rental assistance. Last year, the county social services rolls ¿ from foster care to Medicaid ¿ increased four percent. This year, they are projected to increase another 13 percent.
"It's grown beyond our doors," said Linda Allison, director of the Alamance County Department of Social Services, who helped form response teams to confront factory closures.
There are faint signs of a rebound. LabCorp, a medical sample testing company, has become the largest employer in town with 3,400 workers, and classes at Alamance Community College are crowded with students training for a career there.
Honda intends to build a new breed of light commercial jets in Burlington and hire 600 employees. It announced in April, however, that "global aerospace industry business challenges" will stall deliveries until the fourth quarter of 2011.Burlington officials have sought $12 million in federal stimulus money to pay for 50 job-creating infrastructure projects. And the town is located just outside the Research Triangle region, home to the research jobs found at the University of North Carolina, Duke University, North Carolina State University and private firms.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV