I just read a fantastic column on the ongoing economic struggle (recession? near-collapse?) and how it continues to affect people even as the market appears to have escaped. I would characterize it as a must-read. It’s called “The Ghosts of ‘Old G.M.’ and you can find it in the New York Times.
Paul Clemens, the writer, ties in the “new” G.M. stock offering with the spectre of “old” G.M. plants, which, vacant and shuttered, still litter the landscape and occupy what he calls “an outsized amount of psychic space.”
Several passages stood out for me, but I was particularly struck by this bit:
Plant closings cost jobs, of course. But on a smaller scale, for a finite time, they also create them. I talked to workers from the auction company that ran the initial fire sale; to the riggers who took the equipment apart; to the truckers who hauled the equipment away; to workers from the scrap company that cut up the presses that hadn’t been sold overseas.
All kinds of businesses are involved in plant closings, so many that there’s even a trade publication: Plant Closing News, a biweekly newsletter “targeted to surplus industry service providers,” including “rebuilders, used equipment dealers, dismantlers, demolishers, remediation contractors, equipment riggers, craters and equipment transport firms looking for current business opportunities, particularly those arising from the closing or relocating of North American industrial manufacturing plants.”
There’s a lot to absorb in that passage, not least “surplus industry service providers,” a phrase for our economic times if ever there was one. Taking apart industry is an industry, and tracking the decline of the one for the benefit of the other is the job of Jon Clark, who runs Plant Closing News.
I was also struck by his closing paragraphs, in which he remembered a Philip Roth passage:
Roth imagined a scene of a father giving his son this advice while attending a baseball game: “Now, what I want you to do is watch the scoreboard. Stop watching the field. Just watch what happens when the numbers change on the scoreboard. Isn’t that great?” Then Mr. Roth asks: “Is that politicizing the baseball game? Is that theorizing the baseball game? No, it’s having not the foggiest idea in the world what baseball is.”
Sounds like the disconnect between the economic activity of the market and the economic experience so many people are facing. Powerful stuff.
(photo by Ben Lawson — taken in Saskatchewan!)

