Economy
On December 4, 2008, Abitibi Bowater released a statement concerning imminent closure of the pulp and paper mill in Grand Falls-Windsor, representing a cutback of 205 000 tons of paper. The mill produced its last roll of newsprint on February 12, 2009. The closure was effected due to exchange rate volatility, energy and fiber pricing, as well as structural challenges in the North American newsprint industry. At the time of closure, the paper mill was the second largest employer of the town.
Like most other communities in Newfoundland and Labrador, Grand Falls-Windsor has suffered from outmigration though the town's economy still remains strong.
Read more about this topic: Grand Falls-Windsor
Famous quotes containing the word economy:
“Quidquid luce fuit tenebris agit: but also the other way around. What we experience in dreams, so long as we experience it frequently, is in the end just as much a part of the total economy of our soul as anything we “really” experience: because of it we are richer or poorer, are sensitive to one need more or less, and are eventually guided a little by our dream-habits in broad daylight and even in the most cheerful moments occupying our waking spirit.”
—Friedrich Nietzsche (1844–1900)
“The counting-room maxims liberally expounded are laws of the Universe. The merchant’s economy is a coarse symbol of the soul’s economy. It is, to spend for power, and not for pleasure.”
—Ralph Waldo Emerson (1803–1882)
“Even the poor student studies and is taught only political economy, while that economy of living which is synonymous with philosophy is not even sincerely professed in our colleges. The consequence is, that while he is reading Adam Smith, Ricardo, and Say, he runs his father in debt irretrievably.”
—Henry David Thoreau (1817–1862)