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• W76542414 abstract "Early in 1988 Kenosha, Wisconsin became the symbol for the media of all that is supposedly wrong with American capitalism. In January that year, the Chrysler Corporation announced that two days before Christmas, it would close the nation's oldest car factory, laying off 5,500 workers. The plant employed 40 percent of Kenosha's manufacturing workforce, and news accounts were universal in predicting doom for the rustbelt community. A man dressed as the Grim Reaper paced somberly in front of the auto plant as CNN reported the closure. is a journey into misery, an autoworker told the network. God knows what will happen to this community, a state senator told the Milwaukee CBS affiliate. Democratic presidential hopefuls rushed to Kenosha to attack this symbol of the of greed. Jesse Jackson called for a worker's bill of rights and denounced the violence of Chrysler and the American economy under Ronald Reagan. Michael Dukakis wrote to Chrysler CEO Lee Iacocca asking him to save the plant. And Senator Paul Simon (D-IL) accused the corporation of raw profiteering. But the liberal Democrats, and their friends in the national media, just didn't get it. Today, six years after the last car rolled off the line, Kenosha has gone from bust to boomtown: Unemployment has been halved, per capita income is up, and new housing starts have soared. This community has become a testament to the resiliency of market capitalism, traditional values, and conservative economic policies. Kenosha is a special tribute to the tax-cutting policies of Wisconsin under Governor Tommy Thompson. JOBLESS RATE HALVED There is no doubt in my mind that we're doing better, says Rick Nemeth, who bought his own tavern after he was laid off. have learned that initiative pays off. You're not going to make money overnight, but now I wake up every morning and I am happy with my life. During his 20 years on the assembly-line, Nemeth never made more than $24,000 in a year; today he earns more than $40,000. And Nemeth is not an exception: Since Chrysler pulled out in December 1988, the unemployment rate has averaged 5.7 percent, less than half the mean of 11.6 percent during the five years preceding the shutdown. Moreover, average annual wages in the community have risen nearly $2,000 per person. The turnaround came as no surprise to University of Wisconsin-Parkside economist Dick Keehn, who has studied the local economy for almost 25 years, and had predicted the coming boom. In fact, Keehn had urged the community to rid itself of the plant for nearly a decade in order to improve the rustbelt economy. The economist's reasoning is simple: Since 1959, when the Simmons mattress company left Kenosha, the auto plant, which had been run by the American Motors Corporation (AMC) before being taken over by Chrysler in 1987, had single-handedly dominated the local labor market. In fact, the region's second largest private employers had hired only one-tenth to one-third the number of workers on the car company's payroll, which reached 16,000 under AMC in the 1960s and topped $130 million in the 1980s. This domination of the labor pool by a single company, whose payroll fluctuated dramatically, destabilized the entire region. Smaller companies frequently lost workers to the auto plant, which paid inflated union wages, and new companies were discouraged from moving to the unstable community. SMALL BUSINESSES THRIVE The excessive union wages in Kenosha, which in 1985 were $1.65 higher per hour than Chrysler workers across the nation and rated the least competitive in the industry, drove jobs away from southeastern Wisconsin. United Auto Worker (UAW) projections in 1988--that the plant closing would force 15,000 people out of work by 1990--were therefore grossly inflated. Instead, that year, only 3,100 people were jobless in the entire county; the shutdown had provided a market where small businesses could compete. …" @default.
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• W76542414 date "1994-09-22" @default.
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• W76542414 title "Yes We Kenosha: With Can-Do Capitalism, a Wisconsin Town Busts out of the Rustbelt" @default.
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