Tag: manufacturing

Shoe Giant ‘Steve Madden’ Speeds Up Shifting Production Exit from China Following Trump Victory

Daily Caller News Foundation
Steve Madden

by Ireland Owens   Steven Madden said Thursday that it is accelerating plans to shift production out of China in anticipation of President-elect Donald Trump introducing increased tariffs on imported goods when he returns to office, according to Bloomberg. The New York-based retailer said in a company earnings call Thursday that it is now planning to reduce products manufactured in China by 40% within the next year, according to Bloomberg. The company had previously set a target of a 10% reduction within the next year, according to Bloomberg. “As of yesterday morning, we are putting that plan into motion,” Steve Madden CEO Edward Rosenfeld told analysts on an earnings call Thursday, Bloomberg reported. Trump beat Vice President Kamala Harris in his bid for reelection, securing 270 electoral votes by about 2 a.m. EST on Wednesday following his winning in the key battleground states of North Carolina, Pennsylvania and Georgia. The U.S. stock market soared Wednesday following the Republican’s victory. The president-elect previously proposed increasing tariffs on various imported goods, including saying in September that he would impose a 200% tariff on John Deere’s tractors if it closed an American factory and moved production outside of the U.S. to Mexico. Trump has also promised to enact policies aimed at accelerating domestic production throughout…

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Vance Rallies in Virginia, Focuses on Manufacturing and Energy

The Center Square
JD Vance Virginia

Republican vice presidential nominee J.D. Vance drew on his Appalachian upbringing to connect with supporters at a rally in Virginia on Monday night, focusing on the region’s depleted manufacturing industry, fentanyl and surging immigration crisis.

Vance, senator from Ohio, stopped earlier in the day in his Ohio hometown. He was announced on the ticket with former President Donald Trump one week to the day earlier.

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Robby Starbuck Exposes John Deere’s Corporate DEI Policies: ‘You Need a Massive Overhaul There’

Kaitlin Housler
John Deere

Tennessee political commentator and documentary filmmaker Robby Starbuck shared an update into his work exposing John Deere, the American manufacturing company of agricultural machinery and other heavy equipment, for its woke policies, saying how “hundreds” of upset employees have come forward about the drastic changes under the company’s new leadership.

Starbuck said John Deere essentially turned into a “trojan horse for leftism” once its CEO, John May, was named head of the company in 2019 and implemented “drastic” changes to the company’s policies.

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Ford Delays Production of New Electric Truck to Be Manufactured at BlueOval City

Kaitlin Housler

Ford announced Thursday that it is delaying the rollout of two new all-electric vehicle models. Once the facility is operational, one of them will be manufactured at BlueOval City at the Memphis Regional Megasite in West Tennessee.

The company said it plans to begin customer deliveries of its new all-electric pickup truck model made at BlueOval City in 2026 – one year after the original anticipated delivery date.

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Commentary: The Financialization of Nature

Admin
Power Plant Money

Financialization: “A pattern of accumulation in which profit making occurs increasingly through financial channels rather than through trade and commodity production.”
– Greta Krippner, Economic Sociologist, University of Michigan

There are plenty of examples of how America’s economy shifted from a production-based economy to a financially-based economy over the past forty years. Starting around 1980, with the economies of post-World War II Europe and Japan fully rebuilt and roaring, and emerging Asian economies turning into powerhouses of manufacturing as well, America chose financialization as an alternative to rising up to meet the competition.

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United Airlines CEO Says They Are Making Plans Without Boeing After Manufacturing Issues

Admin
United Boeing

United Airlines CEO Scott Kirby said Tuesday that the company is making a plan to move forward without Boeing after the manufacturing company grounded its MAX 9 planes, according to CNBC.

Boeing has suffered a series of problems in the last several weeks after multiple planes had major mechanical and structural errors, forcing the company to ground all Max 9 aircraft with door plugs. Kirby told CNBC that the decision to ground the aircraft was the “straw that broke the camel’s back” for United.

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New York Manufacturing Sees Biggest Plunge Since Pandemic Lockdowns

Admin
Blue Collar

The index for New York state’s general business conditions fell by 29 points to -43.7 for January, with a negative number indicating a contraction, declining to the lowest point since May 2020 when the state was struggling with the COVID-19 pandemic, according to a new survey from the Federal Reserve of New York.

Accompanying the decline and contraction in general business conditions, shipments fell 25 index points, the number of unfilled orders remained high at -24.2 index points and the amount of inventory held shrank to -7.4 index points, according to the Empire State Manufacturing Survey conducted between Jan. 3 and 10. Despite poor current conditions, optimism about future activity levels by businesses increased, with the index rising 7 points but still remaining relatively low at 18.8 points, indicating that businesses expect an economic expansion in the coming months.

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GOP Presidential Hopeful Tim Scott Unveils Economic Plan Ahead of Campaign Trip to Hawkeye State

M.D. Kittle

U.S. Senator and Republican presidential hopeful Tim Scott is unveiling his “Build, Don’t Borrow” economic plan as he prepares for another campaign trip to Iowa.

Scott says his proposal targets runaway government spending, while cutting taxes, expanding jobs and “unleashing American manufacturing and energy production” with his Made in America agenda.

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China’s Latest Data Dump Shows Economy Is Still Struggling to Regain Momentum

Admin

New state economic data released Thursday shows that China is facing headwinds in its effort to revive its struggling economy, according to The Wall Street Journal.

China struggled in August with low manufacturing activity, exports and consumer spending, adding more negative factors to the Chinese economy, which is already facing a fumbling real estate market, according to the WSJ. The new data from China follows disappointing economic growth for the country in the second quarter of 2023, with the Chinese economy only growing 0.8% for the quarter as opposed to 2.2% in the first, totaling 6.3% for the year.

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Wisconsin U.S. Rep. Mike Gallagher’s Committee on China Hosts Roundtable Event on Chinese Communist Threat to U.S. Manufacturing

M.D. Kittle

The House Select Committee on the Chinese Communist Party will be in manufacturing-dependent Wisconsin Wednesday afternoon for a roundtable discussion on communist China’s “deliberate undermining of American manufacturing,” according to a press release.

Committee Chairman Mike Gallagher (R-WI-08) and Ranking Member Raja Krishnamoorthi (D-IL-08) will host the roundtable beginning at 3 p.m. Wednesday in Stoughton, WI.

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Biden Peddles Policy Success in Badger State; the Numbers Tell a Different Story

M.D. Kittle

On the one-year anniversary of the ill-named Inflation Reduction Act, President Joe Biden paid a call on Milwaukee to sell his tax-and-spend policies that the White House likes to call “Bidenomics.”

But a lot of Badger State residents who have seen their earnings swallowed up by the inflation fueled in no small part by “Bidenomics” aren’t seeing the benefits the president is touting.

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Plastic Manufacturer Announces $6.9 Million Investment Project in Georgia’s Washington County

Kaitlin Housler

PVS Plastics Technology Corporation officials recently announced that the company will invest $6.9 million to establish its second U.S. facility in Johnson City.

PVS, which describes itself as an “environmentally friendly plastics company,” is based in Niedernhall, Germany. The company specializes in manufacturing electric motor and fan components for the automotive and commercial HVAC industries.

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Electric Vehicle Parts Manufacturer Announces $18 Million Investment in Dublin-Laurens County

Kaitlin Housler

Woory Industrial Company, Ltd., an automotive parts manufacturer, recently announced that it will establish a new manufacturing facility in Dublin as its first U.S. manufacturing location.

Woory is a Korea-based company that develops and produces HVAC auto components for all types of vehicles, including electric and internal combustion engine vehicles, and eco-friendly and hydrogen-fueled cars.

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New Report Shows Arizona Manufacturing ‘Renaissance’

Admin

New data on the manufacturing sector in Arizona shows rapid growth in recent years for the industry.

A report from the Common Sense Institute, a Phoenix-based conservative think tank, determined that Arizona topped all other states in March for adding 2,000 manufacturing jobs and $77.6 billion in “direct sales and output” from the sector in 2022, which the group said in a roughly 40 percent uptick since 2017.

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Commentary: Boosting Manufacturing in North America

RealClearWire

The world paid little attention when the leaders of North America met in a summit in Mexico City last month, but what they decided was momentous. President Biden, Mexican President Lopez-Obrador and Canadian Prime Minister Trudeau agreed to build on  President Trump’s 2020 trade agreement to find new ways to integrate their economies, boosting manufacturing and significantly reducing reliance on Asia.

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Biden Touts Economy in Wisconsin as Badger State Suffers Consequences of Big Government Policies

M.D. Kittle

President Joe Biden paid a call on Wisconsin Wednesday, touting job creation and boasting that the Big Government agenda he laid out in this week’s State of the State address will get the nation’s economy humming. 

But the president’s cheerleading tour conflicts with the realities on the ground for Badger State businesses dealing with higher prices, supply chain issues and labor shortages. 

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Blackburn Releases New Video on the Economy, Discusses What Has Kept Tennessee Growing as Nation Struggles

Bradley Vasoli

Tennessee Republican Senator Marsha Blackburn is preparing to release a video via social media discussing the state’s economy and spoke with The Tennessee Star this week to discuss both the pressures it endures as well as its bright spots compared with other regions.

In the one-minute spot, which shows the senator touring a Clarksville-area manufacturing plant, she discusses the challenge ongoing inflation poses to producers as they attempt to provide affordable goods to Tennesseans. 

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Food Manufacturer Announces $2.2 Million Investment in Overton County

Kaitlin Housler

HealthVerve Food Manufacturing USA, Inc. officials announced Thursday that the company will invest $2.2 million to establish new manufacturing operations in Livingston. HealthVerve was founded in 2006 and is a high-value food manufacturer that specializes in canning processes and invests in research and development to bring wholesome and nutritional products to the public.

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Coalition Backs Universal License Recognition in Ohio

Bradley Vasoli

A coalition of free-market associations sent an open letter on Tuesday to Ohio’s state lawmakers encouraging them to enact universal occupational license recognition, meaning the Buckeye State would honor professional certifications issued in other states. 

Message signers included leaders of Americans for Prosperity-Ohio, the Buckeye Institute, the Goldwater Institute, the National Taxpayers Union and Americans for Tax Reform. The organizations observed that the state’s population is declining and that it will continue to do so if pro-market reforms aren’t made to attract new workers, including universal license recognition. Numerous states, including Arizona and North Carolina, generally accept credentials obtained elsewhere by people moving into those states. 

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Businesses Add Fewest Jobs in Two Years as Manufacturing Craters

Admin

Private companies added 127,000 jobs in November, missing investor expectations by more than 70,000 to post the worst result since January 2021, according to private payroll firm ADP and CNBC Monday.

The addition represented a sharp decline from the 239,000 new jobs reported by the firm in October. Industries that were most directly impacted by higher interest rates, such as construction, were hit the hardest by job cuts, while consumer-facing industries, such as hospitality, largely weathered the storm, according to ADP.

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Arizona Sees Record Number of Jobs in the State

Neil Jones

The Arizona Commerce Authority (ACA) revealed Monday that efforts to work with companies to bring jobs to Arizona have paid off, bringing in the most jobs seen by the organization in a single year.

“For the second year in a row, Arizona economic development efforts broke records. During the 12-month fiscal period that ended June 30, 2022, the Arizona Commerce Authority (ACA) and local economic development agencies successfully worked with companies that committed to creating a projected 24,186 new Arizona jobs – a single year record. Those companies also committed to investing $10.75 billion in local communities,” according to the ACA.

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Report: Pennsylvania Job Openings Continue to Fall

Bradley Vasoli

A report released Monday by Pennsylvania’s Independent Fiscal Office (IFO) shows that new Keystone-State employment opportunities fell in June, marking a three-month overall decline.

Examining numbers from the federal Department of Labor, the IFO found that around 393,000 new jobs opened in June. Although that number exceeds the 281,000-per-month average for job openings that preceded COVID-19 in 2020, it continues a downward slope that began after new employment offerings reached 514,000 in March.

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Manufacturing Leaders: American Businesses Face Major Issues Due to Inflationary Pressure

The Center Square

Several manufacturing and business leaders are concerned about how inflationary pressures are hurting businesses through heightened input and transportation costs.

Participants at a round table event on Capitol Hill Thursday said that inflation has increased the cost of raw materials, making it harder for manufacturers to obtain what they need to do business.

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