THE BEAT GOES ON
The US Department of Commerce has awarded, a $944,000 loan to the Estey Piano Company to manufacture a plastic piano, along with the guarantee of a $2,000,000 bank loan for the company as soon as production of the plunkers begins. The Estey Company gets the loan because under the Trade Adjustment Assistance Act, loans are available to companies and workers who’ve been hurt by imports resulting from recent cuts in tariffs.
THE BEAT GOES ON
Next Up: The Naugahyde Harmonica
The US Department of Commerce has awarded, a $944,000 loan to the Estey Piano Company to manufacture a plastic piano, along with the guarantee of a $2,000,000 bank loan for the company as soon as production of the plunkers begins.
The Estey Company gets the loan because under the Trade Adjustment Assistance Act, loans are available to companies and workers who’ve been hurt by imports resulting from recent cuts in tariffs. Thus, when tariff cuts made it easier to import wooden pianos, the American piano industry was put in a pinch. A plastic piano which could undersell the wooden variety was the obvious answer, sp you can start looking for them at your local music shop, right there in that spot in the window vacated by the electric sitar.