Major Seattle woodworking gallery shuts down...

[Doug Rasmussen]

"Northwest Woodworkers Gallery in downtown Seattle, is the oldest and largest woodworking cooperative in the United States."

https://www.nwwoodgallery.com/

This was always an interesting gallery to visit, lots of turned objects. Although in recent years it seemed many times I was only one in there looking. When I drove by yesterday there was a for lease sign in the window.

Wonder what this means? Wood items are not selling, or selling through other outlets like online? Closing just before the tourist season indicates to me things must not have been good for a long time.

Is this a trend around the country?

 

[Pete Blair]

This is sad to hear!

 

[Mike Johnson]

Perhaps they have moved to another location, many times a property gets too expensive
over time when they continue to raise the lease on long established businesses.

 

[Richard Coers]

To me it's a sign of aging art patrons and an uncertain economy. I had a record year last year, but that was because of some really nice heritage tree commissions. The limited shows I do were down nearly 40%. Our local economy has taken several hits from Caterpillar going into it's 5th year in a row of downturns. They announced major management layoffs just before the annual fall art fair last year. Out of town artists were asking me what happened and what had Caterpillar announced? One asked, "doesn't this community support art?" That kind of news ripples through the whole metropolitan area, and shakes confidence.

 

[John Torchick]

Aging patrons are diminishing in numbers. The quality arts and crafts aren't an area of interest. The younger people are more interesting in spending their money on cars they can't afford and houses that they can't afford or don't need. If one of the breadwinners loses a job, they are up the proverbial estuary without any means of propulsion. I have seen this competition in the younger members of our church- keeping up with the Joneses.
Richard, are the layoffs any indication of jobs moving overseas or people buying heavy equipment made overseas? Sad as Cat is the big name in construction equipment.

 

[Bill Weaver]

According to my cousin that lives up the hill from Seattle. Says you have to make a lot of money to live in town. So maybe the real estate got to expensive to stay open.

 

[Richard Coers]

Richard, are the layoffs any indication of jobs moving overseas or people buying heavy equipment made overseas? Sad as Cat is the big name in construction equipment.

I'm a Cat retiree. Low commodity prices are the biggest hit. The reductions in coal mining has been a big hit. They invested more heavily into that market just at the peak of coal, with the $7.6 billion purchase of Bucyrus. The high profit giant coal hauling trucks and track type tractors are just not selling. Mines are using idled machinery to scab parts, so even the parts business is off. They invested heavily in China, opening many facilities, again at the peak. They invested in a joint on-highway truck project with Navistar, that has now been dissolved and discontinued. Cat has been a major world producer for decades. Most recently they have set up facilities in right to work states. But right now, they can't shed employees and facilities fast enough. I know a 21 year management employee that has lost his job. I retired 3 years ago, my co-worker of 12 years, just lost his job right before Christmas. No one is safe there right now. Most recently they announced they are moving all the top executives to Chicago and naming that the corporate headquarters. THAT was a real killer for Peoria! So for all the problems in the markets, corporate management can't escape some of the blame for the company downturn through bad decisions.

 

[Curt Fuller]

I had never heard of northwest woodworkers gallery until now. But their website is still alive and well and I just spent about an hour drooling over the incredible work on the site.

 

[Bill Boehme]

... So for all the problems in the markets, corporate management can't escape some of the blame for the company downturn through bad decisions...

So the top brass probably rewarded themselves with a big bonus for their hard work. 🙄

 

[Mike Johnson]

I have invested in Caterpillar off and on over the years, the business model they operate under
is a difficult market when you consider the time it takes to tool up and build a facility to produce
the size of equipment they bring to market. Caterpillar invests large sums of money upfront on
each product they decide to bring to market, any downturn in the market and they are caught on
the wrong side of the investment. When the market is good they make money, when the market
has a downturn they bleed money for years.

 

[Richard Coers]

I have invested in Caterpillar off and on over the years, the business model they operate under
is a difficult market when you consider the time it takes to tool up and build a facility to produce
the size of equipment they bring to market. Caterpillar invests large sums of money upfront on
each product they decide to bring to market, any downturn in the market and they are caught on
the wrong side of the investment. When the market is good they make money, when the market
has a downturn they bleed money for years.

Historically, that was the case. And continues in some respect. But purchasing, or partnering and then purchasing the product line has become more common. Solar Turbines, Bucyrus, Towmotor, Elphinstone, etc http://www.caterpillar.com/en/company/brands.html

 

[Mike Johnson]

A large corporation like Caterpillar that is involved in a number of different markets on a large
scale is easily driven down when the market incurs the perfect storm. Many corporations have
managed to extract profits from the world markets not relying on any one country for the bulk
of the business. When the entire world incurs a slow down these large corporations have a difficult
time trimming overhead expenses fast enough to keep the bottom line in black ink. They can always
spin off a division or an acquisition to keep the cash flow positive until the markets recover. Most of
the large corporations these days review their assets yearly and spin off the poorly performing ones
if they don't fit in their long range strategies.

 

[Doug Rasmussen]

According to my cousin that lives up the hill from Seattle. Says you have to make a lot of money to live in town. So maybe the real estate got to expensive to stay open.

No doubt about the cost of living in Seattle...high, mostly driven by high real estate prices. And the real estate prices are driven by demand. Lots of people with lots of money.

So, with all this money, it makes you wonder why a high end gallery would shut down.