Small Town Takes Big Economic Hit

Tough economic times are hitting a small Gulf Coast town hard. 100 people who work at The Scotch Lumber Company sawmill in Fulton, Alabama may soon be out of work. That's because they were given notice Monday that if the lumber market doesn't get better in the next 60 days, they'll be laid off and production will be suspended. The company's vice president says they've taken a big hit from the slumping housing market, "we have a great group of employees here and you know I hope it don't get to the point to where we actually have to do something like the layoff that we're talking about in 60 days. I hope it don't come to that point, but, now, if you look at the way market conditions are presently, you know, its not real hopeful," said Scotch Lumber Company Vice President, Tony Sheffield. The population of Fulton is only 380 people. The Mayor says to lose 100 jobs will be devastating to the town and it's economy.