US PMI COMES IN JUST ABOVE EXPECTATIONS AT 52.1
Markit’s April U.S. manufacturing PMI survey results are out.
The headline index came in at 52.1, slightly above the flash estimate of 52.0 published earlier this month, but down from March’s 54.6 reading.
Any reading above 50 on the index signals expansion, so the 52.1 reading in today’s release suggests that American manufacturing is still expanding, but at a markedly slower pace than in March.
The new [...]
A bill to limit gun magazines to 15 rounds passed the Colorado House on Monday despite arguments it would force hundreds of manufacturing jobs out of state and not make people any safer. House Bill 1224 passed on a 34-31 vote, with just three Democrats voting against it. It was the first of four gun bills up for a vote Monday.
Colorado House passes bills on background check fees, universal [...]
America isn’t working. The grim reality of today’s US economy is that 24m people who want to work cannot get a job. That is an astounding number. That is a level of long-term unemployment that has not been seen since the Great Depression.
What we have become good at is creating more part-time jobs, not full-time jobs. Manufacturing jobs have been replaced by new jobs in healthcare, warehousing and retail, [...]
There was a time in America when virtually anyone that wanted a job could go out and get one and the United States boasted the largest and most prosperous middle class in the history of the world. Sadly, those days are long gone. Back in 1969, 95 percent of all men between the ages of 25 and 54 had a job. But now there are millions of Americans in their prime [...]
Once upon a time, Detroit was one of the greatest cities in the entire world. Today, it has become a desolate wasteland where the lawless reign. Once upon a time, Detroit was a teeming metropolis of about 2 million people. Today, it has become a rotting war zone with a population that is down to about 700,000. Once upon a time, Detroit was known for good paying manufacturing jobs [...]
December 4th, 2012
Amid a worsening fiscal crisis, a crumbling economy, and the destruction of over 40% of America’s wealth in just the last few years, it should be quite clear that this is no ordinary recession. In fact, with progressively dwindling job opportunities, a long-term downward trend in real estate prices, and the near doubling of participation in emergency benefits programs like food stamps and disability, one could make the argument that the United States is [...]
President Obama touted it in 2010 as evidence “manufacturing jobs are coming back to the United States,” but two years later, a Michigan hybrid battery plant built with $150 million in taxpayer funds is putting workers on furlough before a single battery has been produced.
Workers at the Compact Power manufacturing facilities in Holland, Mich., run by LG Chem, have been placed on rotating furloughs, working only three weeks per month [...]
President Obama said Thursday he wanted to “do the same thing with manufacturing jobs, not just in the auto industry, but in every industry,” in a Pueblo, Colo. campaign speech.
OBAMA: I said, I believe in American workers, I believe in this American industry, and now the American auto industry has come roaring back and GM’s number one again. Now I want to do the same thing with manufacturing jobs, not [...]
“I said, I believe in American workers, I believe in this this American industry, and now the American auto industry has come roaring back,” he said. “Now I want to do the same thing with manufacturing jobs, not just in the auto industry, but in every industry.
“I don’t want those jobs taking root in places like China, I want those jobs taking root in places like Pueblo,” Obama told a [...]
Deutsche Bank To Lay Off 1900, As Meredith Whitney Predicts …
Business Insider-41 minutes ago
… To Lay Off 1900, As Meredith Whitney Predicts 50000 Total Wall Street Layoffs …
RIM reportedly cutting 3000 jobs on August 13th
SlashGear-19 minutes ago
On top of that, RIM announced that further layoffs at the company would be … RIM reportedly wants to finalize the layoffs before its next quarter closes on August …
Spin Magazine announces layoffs, reshuffling [...]
Al Gore, former vice president and environmentalist jet-setter extraordinaire, released a desperate fundraising plea to help his fellow Nobel Laureate and the Democratic Congressional Campaign Committee.
Where to start? “The last thing we want is the Republican Party — a party that’s been hijacked by an extremist fringe — to win the White House and tighten its grip on Congress,” Gore wrote. “Extremist fringe” — that’s the phrase used by the [...]
Triumphant in the first Gulf war, George H.W. Bush, in October 1991, went before the UN to declare that the US’s goal was now to build a “New World Order”.
Rejecting this as Wilsonian utopianism, my 1992 presidential campaign called for an end to US military intervention where no vital interest was imperilled, for federal action to secure our southern border and for a halt to the outsourcing of US [...]
Wolf Richter www.testosteronepit.com
Tourism, Greece’s second largest industry after the shipping industry, and already in a downdraft, is taking another hit as tour-bus drivers will go on strike next week; wage negotiations havedeadlocked. Owners demand that drivers take an additional 50% cut in pay and benefits on top of the 20% cut they’ve already suffered.
The National Organization for Healthcare Provision (EOPYY), Greece’s state-owned health insurer,hasn’t paid pharmacists for months and owes them €540 [...]
From The Reformed Broker:
… “Ten years ago, everyone thought Mexico would be the place for expansion,” says Pete Selleck, who heads Michelin’s North American operations. “But we can’t tolerate the level of instability there.”
As for China, labor costs are rising quickly, he says, and “there’s still concern about protecting intellectual property.”
A new survey of 106 big U.S. manufacturers by the Boston Consulting Group, to be released Friday, picked up a [...]
March 28, 2012
While the United States remains mired in the deepest slump since the Great Depression, President Barack Obama is touting a modest improvement in employment over the past several months to boost his electoral prospects in November.
The three-month period from December through February has, according to the Labor Department, seen a net gain of 744,000 jobs, the largest for any three-month stretch since 2006. The official jobless [...]
Not content with being the world’s biggest coffee chain Starbucks recently launched a new juice bar chain and now they are entering new territory by launching their own energy drinks.
The new product, set to rival Red Bull and Rockstar, marks the coffee giant’s first step into the growing $8billion U.S energy drink market.
Currently the drinks, called Refreshers, are available in select retail and grocery stores and come in three flavors: [...]
Stock market up 50% under Obama ….not in terms of real money. Priced in Gold stocks are flat to down.
Saved the U.S. Auto Industry and 1.5M jobs – car sales at 15.1M annualized levels now….Two words “Channel Stuffing”, plus they’ll have to bail-out GM again because Unions are still running the show
Osama dead – True but that didn’t kill Al Qaeda…we’re going to pull out of Afganinstan next year and [...]
Wolf Richter www.testosteronepit.com
There never was that “giant sucking sound” that Ross Perot had warned about during his quixotic presidential campaign in 1992—the sound that manufacturing jobs would make as they headed south to Mexico if NAFTA were ratified. Turns out, he was wrong. The jobs went south silently, and not in one fell swoop either, but gradually. However, yesterday in San Francisco, there was a giant sucking sound. It wasn’t from [...]
BERLIN — Nokia, the biggest maker of cellphones by volume, said Wednesday that it would cut 4,000 manufacturing jobs, or 7 percent of its global workforce, as it moved to streamline and save money from its production of smartphones.
The company said the cuts would be made at three Nokia factories — in Komarom, Hungary; Reynosa, Mexico; and Salo, Finland — as it transferred the assembly of smartphones to factories in Asia, [...]
By Howard Gold
NEW YORK (MarketWatch) — As I write this, I’m looking over our family’s iPad. It’s beautiful, as I’m sure the late Steve Jobs would have loved to hear — elegant and easy to turn on and off instantly.
It’s great for reading magazines, playing Angry Birds, sharing family photos, watching movies and so many other things. It’s a marvel of design and engineering that brings joy [...]
As Apple, Inc. enters its first full year without founder Steve Jobs at the helm, expect one thing not to change: Apple will not be creating large numbers of jobs in the U.S. In fact Apple, which until 2004 did a lot of manufacturing in the U.S., employs just 43,000 people in the U.S. It employs 20,000 people in China. However, the vast majority of the 700,000 contract workers who toil in factories [...]