Tough Times Everywhere: FED Factory Falls Through
If you thought you were the only one with financial woes these days, well . . . you're not alone. When Pioneer stopped doing their own manufacturing of their plasma panels, their factory was left empty, and their workers looking at the unemployment line. (Actually, not sure if they have unemployment lines in Japan?)
Field Emission Technologies was slated to buy the old plasma panel plant. FET is an affiliate of Sony Corporation,specializing in FED, or field emission display. FEDs are said to use less power, and FED sets are ideal for the broadcasting and medical fields.
What happened to kill the deal?
Simple finances. FET could not secure funding for the deal. Unfortunately, that leaves Pioneer scrambling to find new jobs for the 180 employees left out in the cold.
According to Japan Times, the company was just unable to raise the necessary funding "amid the ongoing financial crisis."
You gotta agree - launching into a new business, or acquiring any type of real estate in these uncertain times might not be the wisest decision. No move might be the best move. —Leslie Shapiro