Political Quotes

“this is a speech I was hoping I would not have to give. It is a speech I may have to repeat at greater length, and I hope I will not have to do that. In the City of New Bedford, which I represent, there is a plant, the J.C. Rhodes Co., which has been for a very long time a successful manufacturing plant, manufacturing metal fasteners, manufacturing some basic devices, and they have been profitable. We have heard a lot about American industry not being able to compete. Well, we have a plant here with an excellent dedicated work force. This plant has been around 100 years, and it is successful and profitable. Recently the plant was bought, not by another primary metal producer, but by a financial organization. This financial organization then decided that it would shut down this profitable plant because they could make more money by shutting the plant down and consolidating the production at a plant in a different part of the country. They did not argue that it was a problem of lack of profitability. They did not argue there was no way they could make a go of it in Massachusetts. They did not argue it was because our costs were too high. Mr. Speaker, it was simply that because of the financial manipulations involved they now found it more profitable to shut down the plant. No one is asking them to lose money.…”