Dayton Manufacturer Tells Senate Panel: Credit Woes Worsen Downturn

Dayton Daily News

WASHINGTON — Dayton manufacturer Eugene Haffely Jr. has stared down a double-whammy over the last year: the economic downturn forced his company to reduce its work force by more than 25 percent, and the continued credit crunch made things worse.

His company, Assembly and Test Worldwide, had $150 million in revenues in 2008 but saw more than $20 million worth of orders canceled after last fall’s financial meltdown.

On Wednesday, May 13, he told a Senate panel that he wasn’t alone.

To read the rest of this article, please click the source link above

Dayton Manufacturer Tells Senate Panel: Credit Woes Worsen Downturn »