REPORT: Legendary speed parts merchant Crane Cams shuttered
The automotive aftermarket has been hit hard in recent years, and the latest casualty of the economic downturn is Crane Cams. According to a report by the Florida News Journal, the 56-year-old manufacturer closed its doors yesterday and laid off the majority of its employees. Any calls to Crane to follow-up on the story have been shuttled off to the company's voice-mail service, although the Florida e-paper did talk to Dennis Burgess, who declined to comment.
Ronald Dorn, a former employee, said that workers were told to expect lay-offs in the coming weeks, but there was no talk of a full-scale closure.
Crane Cams and Crane Technology Group – purveyors of some of the finest valvetrain components in the U.S. – were founded by Harvey J. Crane in 1953, became an employee-owned entity in 1979 and was sold to Mikronite Technologies in 1985. The company has endured a series of small layoffs in recent years, cutting its workforce down from 220 employees since 2006. Rick Michael, Volusia County economic development director, said that the city was working to keep Crane in the community and was shocked by the company's closing. Thanks to all who tipped in.
[Source: News-JournalOnline via FordMuscle]
Reader Comments (Page 1 of 2)
BoBone-D16 2:43PM (2/25/2009)
nooooooooooooooooooooooooooooooooooooooo
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ronEbear 2:50PM (2/25/2009)
yesssssssssssssssssssssssssssssssssssssssssssssssssss
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JAL 2:52PM (2/25/2009)
Sad day. Gotta feel for all those who lost their jobs.
From what I’ve read it seems it was a combination of very bad management and the current business environment...........
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Justin 2:53PM (2/25/2009)
Change! Yes we can!
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ronEbear 3:03PM (2/25/2009)
Is that a jab at Obama? Because you know he did not cause this, right? You do realize that it`s because of the failures of the banking system in the U.S.A that caused this, right? RIGHT?
Sanders 4:10PM (2/25/2009)
Hey, don't let the 8 years of catering to huge corporate and financial interests, like giving huge tax breaks to Exxon-Mobil in the face of record profits, be a factor.
Jake B 3:43PM (2/25/2009)
The banking failure was mostly caused by the rotten lib policies put in place by Obama's buddies.
ItGuy 4:15PM (2/25/2009)
Amen - read up on the Community Reinvestment Act. In a nutshell, the Socialist (Democrat) plan to ensure that those that couldn't afford a home got one.....
walkoffwalk 4:25PM (2/25/2009)
Yes. Please read up on the Community Reinvestment Act: http://www.federalreserve.gov/newsevents/speech/kroszner20081203a.htm
Rick C. 4:55PM (2/25/2009)
You mean like this part:
Some critics of the CRA contend that by encouraging banking institutions to help meet the credit needs of lower-income borrowers and areas, the law pushed banking institutions to undertake high-risk mortgage lending. We have not yet seen empirical evidence to support these claims, nor has it been our experience in implementing the law over the past 30 years that the CRA has contributed to the erosion of safe and sound lending practices.
Sounds like Freddie Mac and Fannie May didn't take part in the creation of toxic derivatives, which got us into this mess.
fixitfixitstop 8:54PM (2/25/2009)
Right, so things which happened years ago are still Obama's fault. You can't be 100% down one party line and not be a hypocrite.
Steve Lopez 2:54PM (2/25/2009)
Pretty sad.
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Polly Prissy Pants 3:22PM (2/25/2009)
That's a real shame, although not terribly surprising. People really don't swap cams around like we used to back in the day.
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phoenix0783 2:30PM (2/26/2009)
I don't know what you're talking about. I swapped a several cams last year alone, although they were Comp Cams.
TVs Hasselhoff 4:00PM (2/25/2009)
So, Phoenix, this is your fault, then?
havoc 5:14PM (2/25/2009)
a sad day, but with all the variable valve lift, cam timing, ignition advance, etc etc etc... there isn't as much market out there.
granted that those pursuing aftermarket cams were typically not trying to change the power curve on their NEW camry/malibu/cobalt, etc.
i haven't bought a cam in prob 8 years, and the last cams i bought were Crower.
moyoi 3:28PM (2/25/2009)
I'm so pissed off at these banks/debtors!
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Mike 10:22PM (2/25/2009)
That sucks, I just bought a set of their roller rockers last summer.
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Tony 10:34PM (2/25/2009)
WOW. It's amazing how everything that happens in the US these days instantly turns into political rants. Just pray these workers can find employment elsewhere and provide for their families.
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e46mike 11:14PM (2/25/2009)
Sad... The summer between high school and college my dad and I built a 302 to put into my Mercury Capri... We put a Crane Cam into that 302...
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