Good news for the local economy
Can a bankruptcy ever be good news? In the case of Wichita-based airplane maker Hawker Beechcraft, last week’s Chapter 11 filing may save the company. Part of the deal includes $400 million to continue paying workers and vendors while the company deals with its creditors. Hawker has $2.3 billion in debt to clear up.
No doubt it was good news last week when Rubbermaid announced it was expanding its operation in Winfield. The company plans to add at least 250 jobs over the next few months. Rubbermaid has manufactured its products in Winfield for years.
We recently had news that Cessna is hiring in Wichita.
There are signs of recovery here in the Wichita area, but it’s troubling that the unemployment rate remains above 7%.
The Great Recession has been awful for many Americans. If Republicans can convince voters that President Obama is responsible for these bad economic times, they may have a shot at the White House. But if the stock market is strong and unemployment dips below 8%, Obama will likely get a second term.
Our thought for today is from Josh Billings:
“The happiest time in any man’s life is when he is in red-hot pursuit of a dollar with a reasonable prospect of overtaking it.”