The ongoing drought in the Midwest, a stronger dollar and costs to introduce a slew of new products hurt the world's largest producer of agricultural equipment.
There are dozens of ways I have witnessed an incomplete value stream structure drive waste instead of eliminate it, but here is one that is both common and huge in total business impact. I’ll even go so far as to say that this behavior has affected U.S. economy.
The Fed now predicts unemployment will fall to 7.2 percent or 7.3 percent at the end of 2013 from 7.6 percent now. It thinks the rate will be between 6.5 percent and 6.8 percent by the end of 2014, better than its previous projection of 6.7 percent to 7 percent.
Research shows an increase in overseas sales by companies already exporting, and a growing interest in exporting among those who have yet to test the international waters. Exporters say demand for their goods, from clothing to blankets to crop dusting planes, is rising.
Acquiring equipment through leasing and other financing methods is more flexible and customizable to meet unique business needs than most funding options. This makes equipment finance a perfect fit for startups and small businesses, both of which may have trouble getting traditional bank loans.
U.S. Sens. Jeanne Shaheen and Kelly Ayotte are teaming up to help small businesses make the most of their export opportunities. The senators on Tuesday reintroduced the bipartisan Small Business Export Growth Act, which is aimed at cutting down on bureaucratic hurdles and giving businesses more exporting assistance.
U.S. consumer prices rose slightly last month, as higher energy costs partly offset cheaper food. The small increase is further evidence that consumers are benefiting from mild inflation.The consumer price index ticked up a seasonally adjusted 0.1 percent in May from April, the Labor Department said Tuesday.
The truth is that a large portion of this skilled labor shortage cannot be solved by any given manufacturer — in many cases, the people simply aren’t trained well enough, or aren’t willing to take on new skills. With that in mind, making the best of this situation is a matter of using whatever tools necessary to take advantage of the small portion that is under a manufacturer’s control.
This two-day, executive-level event will feature 200 executives from manufacturers strongly considering, or even in the middle of, moving major projects back to the U.S. from overseas. Taking place in the Omni Galleria, in Houston, Texas, the Reinvesting in American Manufacturing Conference will feature dozens of sessions on every topic critical to understanding and making the business case to re-shore manufacturing assets.
The top official with the European Union's executive arm says a free trade deal with the United States would be a "game-changer" for the global economy. European Commission President Jose Manuel Barroso made the statement Monday ahead of a formal launch of the trade effort at the Group of Eight Summit in Northern Ireland.
Strong industrial activity in early 2013 softened somewhat recently but the sector should have enough momentum to continue growth, according to the quarterly Manufacturers Alliance for Productivity and Innovation U.S. Industrial Outlook (EO-124), a report that analyzes 27 major industries.
Vendors, managers and bloggers often cite the benefits of “big data,” though most miss the mark in understanding exactly what it is used for, and how it is analyzed. By itself, big data is just raw material, and without a focus on bottom-line results, it is not only meaningless — it can actually be harmful, diverting resources away from a company's core mission.
Economic and labor ministers from France, Germany, Italy and Spain are meeting in Rome to find a way to reduce record youth unemployment. Italian Premier Enrico Letta has made finding jobs for the young one of the battle cries of his new administration. About 40 percent of Italians aged 15-24 and active in the job hunt are unemployed.
U.S. factories barely increased their output in May after two months of declines, a sign that manufacturing is providing little support for the economy. The Federal Reserve says manufacturing production increased just 0.1 percent in May from April. Output fell 0.4 percent in April and 0.3 percent in March.
When it comes to the monumental task of training another generation of manufacturing employees, armed with the high-tech skills that the technology-heavy processes of the future will require, it’s easy to come down hard on the educational system. And yes, there are bad educators, but that shouldn’t detract from those who care and who work hard despite the poor infrastructure to help students get the education they need.
The number of Americans seeking unemployment benefits dropped 12,000 last week to a seasonally adjusted 334,000, a decline that suggests steady job gains will endure. The less volatile four-week average decreased 7,250 to 345,250, the Labor Department said Thursday.
U.S. businesses increased their stockpiles in April but their sales fell for a second straight month, held back by a decline in orders to American factories. The Commerce Department said Thursday that business stockpiles rose 0.3 percent in April from March.
Americans stepped up purchases at retail businesses in May, spending more on cars, home improvements and sporting goods. The gain shows consumers remain resilient despite higher taxes and could drive faster growth later this year. The Commerce Department said retail sales increased 0.6 percent in May from April.
The government says the U.S. budget deficit widened in May by $139 billion, but the annual deficit stayed on track to finish below $1 trillion for the first time since 2008. With the May increase, the deficit through the first eight months of this budget year totaled $626 billion.
A company that had planned to build high-tech police cars in a vacant plant that once housed a rust belt city's largest employer has filed for bankruptcy, dashing the hopes of a community desperate for economic rejuvenation. Carbon Motors Corp. filed for Chapter 7 liquidation in U.S. Bankruptcy Court in Indianapolis.
The Business Roundtable said Wednesday that its April-June quarterly survey found 32 percent of its members expect to expand payrolls in the next six months. That's up from 29 percent in the January-March survey. And 78 percent expect their sales to increase. That's up from 72 percent from the previous survey.
No segment of American industry has more to gain from energy efficiency than the manufacturing sector, using almost 40 percent of the energy consumed in the United States. Replacing inefficient machinery, employing "smart" environmental controls and upgrading lighting, heating and air-conditioning systems can drop utility bills by 20 percent to 30 percent.
More Americans are quitting their jobs, suggesting many are growing more confident in the job market. The Labor Department said Tuesday that the number of people who quit their jobs in April jumped 7.2 percent to 2.25 million. That's just below February's level, which was the highest in 4 ½ years.
U.S. wholesalers increased their stockpiles in April and their sales rebounded from a big decline in March, positive signs for economic growth. The Commerce Department says stockpiles at the wholesale level rose 0.2 percent in April. That followed a 0.3 percent gain in March.
President Barack Obama says that 50 years after enactment of the Equal Pay Act, the nation still faces gender wage disparities that must be fixed. "This is the 21st century," he declared. "It's time to close that gap." Obama raised the issue while observing the anniversary of the law signed by President John F. Kennedy in 1963.
April U.S. manufacturing technology orders totaled $372.50 million. This total, as reported by companies participating in the USMTO program, was down 26.6 percent from March and down 12.6 percent when compared with the total of $426.44 million reported for April 2012. With a year-to-date total of $1,650.91 million, 2013 is down 7.0 percent compared with 2012.