The Decline Of A Cotton Textile City

Studies the city of New Bedford, Massachusetts, beginning with the depression in the textile industry and the unemployment which resulted. Then focuses on the rebuilding efforts and looks at the new and old labor forces.

For the first time the complete financial history of Berkshire Hathaway is available under one cover in chronological format. Beginning at the origins of the predecessor companies in the textile industry, the reader can examine the development of the modern-day conglomerate year-by-year and decade-by-decade, watching as the struggling textile company morphs into what it has become today. This comprehensive analysis distils over 10,000 pages of research material, including Buffett’s Chairman’s letters, Berkshire Hathaway annual reports and SEC filings, annual meeting transcripts, subsidiary financials, and more. The analysis of each year is supplemented with Buffett’s own commentary where relevant, and examines all important acquisitions, investments, and other capital allocation decisions. The appendices contain balance sheets, income statements, statements of cash flows, and key ratios dating back to the 1930s, materials brought together for the first time. The structure of the book allows the new student to follow the logic, reasoning, and capital allocation decisions made by Warren Buffett and Charlie Munger from the very beginning. Existing Berkshire shareholders and long-time observers will find new information and refreshing analysis, and a convenient reference guide to the decades of financial moves that built the modern-day respected enterprise that is Berkshire Hathaway.

"Koistinen puts the ‘political’ back in political economy in this fascinating account of New England’s twentieth-century industrial erosion. First-rate research and sound judgments make this study essential reading."--Philip Scranton, Rutgers University--Camden "Well-organized and clearly written, Confronting Decline looks at one community to understand a process that has become truly national."--David Stebenne, Ohio State University "Koistinen’s important book makes clear that many industrial cities and regions began to decline as early as the 1920s."--Alan Brinkley, Columbia University "Sheds new light on a complex system of enterprise that sometimes blurs, and occasionally overrides, the distinctions of private and public, as well as those of locality, state, region, and nation. In so doing, it extends and deepens the insights of previous scholars of the American political economy."--Robert M. Collins, University of Missouri The rise of the United States to a position of global leadership and power rested initially on the outcome of the Industrial Revolution. Yet as early as the 1920s, important American industries were in decline in the places where they had originally flourished. The decline of traditional manufacturing--deindustrialization--has been one of the most significant aspects of the restructuring of the American economy. In this volume, David Koistinen examines the demise of the textile industry in New England from the 1920s through the 1980s to better understand the impact of industrial decline. Focusing on policy responses to deindustrialization at the state, regional, and federal levels, he offers an in-depth look at the process of industrial decline over time and shows how this pattern repeats itself throughout the country and the world.

With the economy struggling, there has been much discussion about the effects of deindustrialization on American manufacturing. While the steel and auto industries have taken up most of the spotlight, the textile and apparel industries have been profoundly affected. In Empty Mills, Timothy Minchin provides the first book length study of how both industries have suffered since WWII and the unwavering efforts of industry supporters to prevent that decline. In 1985, the textile industry accounted for one in eight manufacturing jobs, and unlike the steel and auto industries, more than fifty percent of the workforce was women or minorities. In the last four decades over two million jobs have been lost in the textile and apparel industries alone as more and more of the manufacturing moves overseas. Impeccably well researched, providing information on both the history and current trends, Empty Mills will be of importance to anyone interested in economics, labor, the social historical, as well as the economic significance of the decline of one of America’s biggest industries.

Manufacturing Catastrophe tracks the history of industrialization, deindustrialization, and globalization in Massachusetts over the past two centuries. It a history of wrenching economic transformation as told from the perspective of everyday people: European peasants traveling the oceans in search of industrial work, runaway factory owners venturing out in search of cheaper labor abroad, and harried local policymakers trying to recover from repeated bouts of economic cataclysm. For those concerned about the future of American industry in the face of global competition, it provides critical lessons on how some of America's pioneering industrial cities have weathered the tempests of economic upheaval and industrial rebirth.