what's so sad about the china mfg Vise Grips is the price stayed the same as the US ones.
I think Irwin would argue that they weren't making sustainable profits beforehand. To me the tragedy is that they owned the market - everyone knew not to mess around with cheap knockoffs, and would pay a couple of bucks more for genuine Vise Grips. They could have passed on a reasonable price increase, and kept the plant going. Instead they decided to follow the way of the cheap knockoffs for 'competitiveness.'
I suppose that if they had a different brand manager, they would have had split it into a premium line made in the US for the fussy buyers, and a value line made overseas for the crowd. I'm not sure whether would have been better or not, since one way or another I think Vise Grips are meant to be born in DeWitt.