This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Kentucky Plant Closure Disrupts Workers' Lives

Area colleges, workforce development officials and government leaders are teaming up to try to limit the economic damage. Job fairs are being offered and plant workers are being surveyed to gauge their interest in retraining or starting their own businesses.

Other area plants can absorb some displaced workers, and the region recently lured three auto-related plants, said Chris Wooldridge, district director for the small business development center at Murray State University. He predicted that "a fair number" of workers will stay in the area.

"Can we find jobs for 1,100 folks? That's tough to take," he said.

Kentucky's top political leaders have been pushing the federal government to hasten cleaning up the plant and find a new operator to preserve jobs. They're also insisting that any work to re-enrich depleted uranium material at the plant remain at the Paducah facility.

Union leaders also have been calling for a "decontamination and decommissioning" project to retain the workforce. That work would remove processing equipment inside the enrichment buildings. The goal is to provide work for several years until a new operator can be found or new nuclear-related work can be secured.

Donald Overstreet, a sheet metal fabricator for 18 years at the plant, isn't sure what he'll do if he gets a pink slip. His 18-year-old son is starting college in the area and his 15-year-old son is starting high school. Overstreet would like to stay, but if he does, he's looking at taking a big pay cut.

"I'm just one of the unfortunate now that things are changing," he said. Then he reconsidered. "Really I can't look at it as unfortunate. It's a new beginning. You have to be positive, you have to move forward and you have to do what you have to do to provide for your family."

Barry King, a 56-year-old chemical operator at the plant, said he checked out a job fair recently. He left with a pile of brochures but no certain prospects. He said he might attend a technical college to get retrained.

3 of 4

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

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.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

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.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 17,804.80 +26.65 0.15%
S&P 500 2,070.65 +9.42 0.46%
NASDAQ 4,765.38 +16.9840 0.36%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs