He’s got that magic touch.
Eleven months ago Barack Obama praised Lincolnton Furniture Company at the White House.

But that was eleven months ago.
Lincolnton just went bust.
The Miami Herald reported:

Lincolnton Furniture Company closed abruptly Thursday just one year after it was hailed by President Barack Obama as an example of the recovering U.S. economy.

Furniture-making operations stopped indefinitely and only a few people will remain employed moving forward, company financial officer Ben Causey said.

“I don’t know where it’s going to go exactly; we’re still evaluating our situation,” Causey said. “We just didn’t have any choice at this point.”

The company was not receiving the orders it needed to sustain its operations, Causey said.

“We needed more orders is really what it boiled down to,” he said. “We thought they would materialize.”

Owner Bruce Cochrane, a fifth generation furniture-manufacturer, formed the company in 2011 with a $5 million investment and the hope he could make a profit off people who wanted to buy furniture made in America.

It was a move that caught the attention of North Carolina officials and those in the White House. Last year, Cochrane sat with the first lady during Obama’s 2012 State of the Union Address. He also joined the president and other business leaders in a discussion about how to create more jobs at home.

 

ADVERTISEMENT

 

Disable Refresh for 30 Days

Cookies and JavaScript must be enabled for your setting to be saved.

1 2

`
  1. Heaven help all those who come to the attention of Obama. He seems to have a real Kiss of Death going . . . .

  2. “it was hailed by President Barack Obama as an example of the recovering U.S. economy.”

    There’s nothing inconsistent here.

    The company was just recovering from capitalism.

    It’s recovery is now complete: it has ceased making profits entirely and must close.

    All is proceeding as planned.

    Move along, nothing to see here.

  3. Obviously he didnt’t ‘contribute’ enough to the re-election campaign so no special orders from the WH for bureaucrats’ custom-made furniture

  4. Ya VOL….. VorWartz !

  5. I really don’t want Obama to praise my business or choose my favorite college football team to win cause he is batting ZERO on everything he predicts or praises.

  6. Hope the $5 mill investment wasn’t from the govt. This poor sap actually believed the dictator and his followers and really thought the economy was getting better and there would be orders for his furniture. So much for that—-

  7. Well what do you know? King Midas DID have a brother! (um, HALF brother, maybe!)

  8. if bruce cochrane was stupid enough to think obama wants to CREATE jobs not KILL jobs i’m not surprised the company went bankrupt.

  9. Worry not employees, the dear leader will now care for your needs. Food, shelter, healthcare all from dear leader. Happiness is yours as you gaze at dear leader, feel the warmth of Hawaii.

  10. We’re told by the left to run out and buy, buy. buy to help the economy. Then we’re told by the left that we should love the earth and recycle and reuse. Hmmm….can’t have it both ways. In this day and age, recyle and reuse wins out, out of necessity. I have a 20 yr. old couch that I wold love to replace. Instead I bought a pretty solid colored queen size flat sheet, tuck it in, and it covers the holes just fine. The last thing in the world I would be buying right now is custom furniture. My nephew wanted a rocker for his wife who is having a baby. We went to garage sale. Got a lovely, big oak one for $20. The days of custom furniture and big ticket items is over. At least for me and my family. We have always shopped 2nd hand first. The earth was never on my mind. It was cause we love antiques, old things, a good deal, can’t stand to part with money for no good reason etc. We taught all our kids the same thing. Live beneath your means and you’ll never be envious or jealous or have wants turn into needs. We’ve been chastised for 30yrs. from family and friends who say we’re not contributing to the economy by being like that. At least I contribute to my bank account. It’s a new world for a lot of people. Won’t ever be the same. People are worrying about food and paying utilities and mortgages. New furniture is the last thing on someone’s mind.

  11. Ozymandias-on-the-Potomac and his (in)famous Sidam Touch —

    That’s the Midas Touch spelled – and effectively applied – backwards, like the rest of his recycled, already-failed, Marxist/Socialist/Utopian-fantasy worldview.

    Same ol’, same ol’.

    SSDD

  12. One more thing. Who in their right mind opens a custom furniture company in 2011? Was he deaf, dumb and blind to what was going on in the country in 2011? We had 3, yes 3, custom furniture companies close down by us in 2010 and 2011. They had been in business for generations. It was sad for the families, the communities, etc. Like someone died, they had been around so long. This guy “thought” the orders would materialize??? Out of what? The left’s butt? He doesn’t sound too bright.

  13. The furniture company went bust because every time Moochie sat on one of their products they collapsed and they could not figure out a way to make mere wood hold up under a load that immense, so they decided bankruptcy would be much easier……But now that Hostess is gone maybe the Mooch shed a little of the load…..

  14. Hes BAD LUCK, if he didnt have bad luck, he wouldnt have any luck at all!!!

  15. The Miami Herald reported:

    Sure, the Herald reported it, because to them it was a local affair. Will the national media report it?

    If past experience is any guide, the answer is no. Again.

  16. ++

    OT..

    January 4, 2012

    I’ll Say It Again: “I’m Not Buying It”

    [She is the same person who was able to order the contracts for 10 cattle futures, which we were told normally was a $12,000 investment although she had only $1,000 in her account at the time. The Chicago Mercantile Exchange showed she was able to turn her initial investment into $6,300 overnight, and in just 10 months she miraculously made nearly $100,000. You may recall that the investigations into her investment acuity, which was highly suspect, mysteriously and quietly went away.]

    more great memories of Hillary at link.. /s/

    ==

  17. Maybe all his undying devotion to the “One” soured his business from day one……….Mom always told me that you are judged by the company you keep………you reap what you sow.

  18. Who is John Galt?



1 2


`

© Copyright 2014, TheGatewayPundit.com. All rights reserved.
Privacy Policy | Terms and Conditions | Web Development By Arlington Kirk