Word: garments
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Conventional wisdom says it's financial suicide to open a garment factory in the U.S. Why set up here when your competition has long since fled to sweatshops offshore? Judging by the success of the American Apparel company--which opened a massive T-shirt factory in Los Angeles three years ago--"Made in the U.S.A." still makes good business sense. Says owner Dov Charney, 32: "My competitors located production centers thousands of miles from their design rooms and marketplace. It's like making prefab homes in India and trying to sell them here...
...garment industry could use more companies like Charney's. Some 33,000 apparel jobs were lost last year as manufacturers, taking advantage of NAFTA, continued to move south of the border. Last fall the government eliminated tariffs for apparel made with U.S. fabric from 24 Caribbean basin nations, spurring more U.S. job losses. The industry's economics are so unforgiving that underwear giant Fruit of the Loom sought bankruptcy protection in 1999 and still hasn't emerged...
...Java, I have heard similar stories, of American or European business owners with thousands of employees being protected and staying put. I know of an American garment maker with an operation near Solo, the city famous for its hotel "sweepers." His thousands of employees insisted he stay there, and guaranteed his safety...
...four-month stay before it can find a new permanent home. The alternative? "If we didn't have a backup site, another exchange would have taken over our trading," says Gambaro. "We'd be out of business." The exchange's temporary digs--surrounded by auto-body shops, garment factories and an elevated train--are a far cry from Wall Street. But trader Chris O'Neill, 33, is glad to be working, and says of his management: "They were well prepared for this disaster...
...airwaves. Through the fire door, my neighbor leaves his radio tuned to the news all day and all night. It echoes through the walls. I get up and put on a shirt with red, white, and blue piping on the sleeves. I have always been fond of this garment, but today I wear the colors as an intentional statement...