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The Next Global Markets For U.S. Businesses

January 26, 2015 3:01 pm | by Jon Minnick, Associate Editor, Manufacturing Business Technology | Videos | Comments

The U.S. economy is surging ahead while areas like China, Europe and Russia struggle economically. In order to keep the momentum going for U.S. businesses, they’ll have to look at new global markets to expand. So where are companies aiming their focus? While there’s been talk about Cuba, now that restrictions...

Falling Grain Prices Hit Farm Equipment Manufacturers

January 26, 2015 2:52 pm | by Andy Szal, Real Time Digital Reporter, Manufacturing.net | News | Comments

Manufacturers of farm equipment are starting to feel the effects of ...

Report: Employers In CT Added 4.8K Jobs In December

January 26, 2015 1:24 pm | by The Associated Press | News | Comments

Connecticut employers added 4,800 jobs in December, helping push down the unemployment rate a...

Low Inflation Likely To Keep Fed 'Patient' About A Rate Hike

January 26, 2015 1:22 pm | by Martin Crutsinger, AP Economics Writer | News | Comments

The Federal Reserve ended 2014 with a pledge to be "patient" in raising interest rates from...

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Daily news and top headlines for manufacturing professionals

Survey: Firms Optimistic On Hiring, Wages In 1Q

January 26, 2015 8:23 am | by The Associated Press | News | Comments

Rising sales helped boost hiring at U.S. businesses in the last three months of 2014, and companies are optimistic that continued improvement in business conditions will bring increased employment and wages in the current quarter, a new survey shows. And many businesses expect the steep drop in...

OH Unemployment Rate Drops To 4.8% In December

January 23, 2015 12:22 pm | by The Associated Press | News | Comments

Ohio's unemployment rate dropped to 4.8 percent last month, its lowest since September 2001 and the fourth consecutive monthly decrease. The state's Department of Job and Family Services said Friday that Ohio had 278,000 unemployed workers in December. That's down 9,000 compared with November,...

CA Cities Among Top Unemployment Rates; Upper Midwestern Cities Among The Lowest

January 23, 2015 11:55 am | by Andy Szal, Real Time Digital Reporter, Manufacturing.net | News | Comments

The desert Southwest, the Jersey Shore and California's central valley account for the highest urban unemployment rates in the nation, according to data compiled by Forbes. The lowest unemployment rates, in contrast, primarily lie in northern college towns and in cities in close proximity to the country's shale...

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Gauge Of U.S. Economy Increases 0.5% In December

January 23, 2015 11:28 am | by Martin Crutsinger, AP Economics Writer | News | Comments

An index designed to predict the future health of the U.S. economy posted a fourth straight solid gain in December. The Conference Board said Friday that its index of leading indicators increased 0.5 percent in December after a revised gain of 0.4 percent in November. The index also posted solid...

Report: Manufacturing Wages Significantly Higher Than Comparable Workers

January 23, 2015 9:40 am | by Andy Szal, Real Time Digital Reporter, Manufacturing.net | News | Comments

The average manufacturing worker made nearly 11 percent more than a comparable worker outside the manufacturing sector in 2012 and 2013, according to a newly released report. In the analysis from D.C.-based liberal think tank the Economic Policy Institute, author Robert E. Scott tabs the wage premium for manufacturing jobs...

MeadWestvaco to Sell European Tobacco Carton Business

January 22, 2015 1:32 pm | by Associated Press | News | Comments

Packaging company MeadWestvaco Corp. is selling its European-based tobacco folding carton business. The Richmond, Virginia-based company said Thursday it has signed a definitive agreement with Swedish company AR Packaging Group AB. Earlier this month, MeadWestvaco announced plans to spin off its specialty chemicals business into a separate, publicly traded company.

Copper Slide Triggers Mine Closure, Layoffs

January 22, 2015 1:27 pm | by Andy Szal, Chem.info | News | Comments

A recent decline in the price of copper — and worrisome projections about the metals market going forward — has led to the closure of one mine in Montana and concern throughout the industry. Spokane Valley, Washington-based Revett Mining Co. this week announced it would suspend operations at the end of the month at Troy Mine, which mines copper and silver northwestern Montana.

Treasury Sec: Congress Should Turn Efforts Toward Business Taxes

January 22, 2015 10:59 am | by Stephen Ohlemacher, AP | News | Comments

Treasury Secretary Jacob Lew dismissed efforts in Congress to overhaul the nation's tax laws by lowering the top income tax rate paid by individuals, saying lawmakers should instead focus on simplifying taxes paid by businesses, where there is more agreement.

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NAM: President’s Call For Pro-Trade Policies Promising Sign For Manufacturers

January 21, 2015 8:56 am | by Jamie Hennigan, National Association of Manufacturers | News | Comments

National Association of Manufacturers (NAM) President and CEO Jay Timmons issued this statement in response to President Obama’s State of the Union address tonight: “Manufacturers powered the American resurgence the President hailed tonight. Manufacturing...

Baker Hughes To Lay Off 7,000 Workers, Planning For Downturn

January 21, 2015 8:30 am | by The Associated Press | News | Comments

Oil services company Baker Hughes Inc. will lay off about 7,000 workers as it prepares for a downturn in orders because of the plunge in crude prices, the company said Tuesday. The layoffs represent about an 11 percent cut to the 62,000-plus workers Baker Hughes says...

Survey Shows Increased Optimism Among Manufacturing Executives

January 21, 2015 8:30 am | by Andy Szal, Real Time Digital Reporter, Manufacturing.net | Articles | Comments

A newly released survey showed top U.S. manufacturing executives were increasingly optimistic about the national economy heading into 2015 -- and that many planned to increase their workforces this year. The latest Manufacturing Barometer from PwC -- a quarterly survey...

The State Of The Obama Economy

January 20, 2015 2:26 pm | by Jon Minnick, Associate Editor, Manufacturing Business Technology | Blogs | Comments

What can we expect from the President’s State of the Union address tonight? Probably some gloating. With gas now below $2 a gallon in most of the U.S., stocks soaring to record new highs, unemployment down to pre-recession levels, trade deficits shrinking and inflation...

Oilfield Services Giant Bolsters Presence In Russia Amid Layoffs

January 20, 2015 2:01 pm | by Andy Szal, Real Time Digital Reporter, Manufacturing.net | News | Comments

Just days after announcing job cuts citing uncertainty in the global oil industry, Schlumberger Ltd. announced a deal to purchase a minority stake in one of Russia's leading energy companies. Texas-based Schlumberger, the largest oil drilling services company in the world, today announced the $1.7 billion agreement...

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Cheap Gas Reignites America's Love Affair With The SUV

January 20, 2015 10:38 am | by CNN Money | Videos | Comments

SUVs are king once again, now that filling them up with gas costs significantly less than it did a few years ago. CNN Money's Christine Romans explains what drivers are buying, and why that doesn't necessarily mean an environmental catastrophe...  

From Car Lots To City Budgets, Cheap Oil Means Change

January 20, 2015 10:22 am | by Henry Jackson, The Associated Press | News | Comments

Cheap oil doesn't only mean cheaper gas in the tank. It means that a car dealer in Illinois is shuffling the inventory of models he'll be selling, that more students in Wisconsin may get school-provided iPads, that some planned projects in a Southern California city will get delayed, and that some expected...

Renewing Detroit: Dan Gilbert’s Fight Against Blight

January 20, 2015 10:17 am | by Bridget Bergin, Associate Editor | Videos | Comments

Quicken Loans founder and chairman Dan Gilbert is responsible for $1.6 billion in funds to rebuild Detroit after its declaration of bankruptcy in 2013. One of the biggest obstacles is the number of abandoned buildings that need to be removed: 78,000, according to the...

AK Faces Lean Budget Times As Oil Prices Plunge

January 20, 2015 9:57 am | by Becky Bohrer, The Associated Press | News | Comments

After years of being flush with oil money, Alaska now faces drastic budget cuts and having to dip into well-stocked savings to offset unprecedented deficits exacerbated by an unexpected plunge in oil prices. When lawmakers left Juneau last April, the price of North Slope crude, Alaska's economic...

Union To Discuss IN Pillsbury Plant Set To Close

January 20, 2015 9:23 am | by The Associated Press | News | Comments

The union that represents workers at a Pillsbury plant set for closure expects to meet next month with General Mills officials to discuss the southern Indiana plant's future General Mills announced last week that it plans to close its refrigerated goods plant in New Albany by mid-2016, but said its...

Fed: Industrial Production Showed Strong Growth In 2014

January 16, 2015 1:20 pm | by Andy Szal, Real Time Digial Reporter, Manufacturing.net | News | Comments

Factory production increased at the fastest rate in four years in 2014, according to the latest monthly numbers from the Federal Reserve. But the manufacturing sector faces challenges from both a turbulent global economy and capacity limitations at home. December estimates from the Fed show...

U.S. Factories Churn Out More Steel, Computers, Lifting Production For 4th Straight Month

January 16, 2015 10:25 am | by Christopher S. Rugaber, AP Economics Writer | News | Comments

U.S. factory production rose in December as manufacturers churned out more furniture, computers and steel, offsetting a small decline in autos. The Federal Reserve says factory production increased 0.3 per cent last month, the fourth straight gain. The increase comes after total output finally passed...

Obama Renews Push For Paid Leave For Working Parents

January 15, 2015 3:02 pm | by Nedra Pickler, Darlene Superville, The Associated Press | News | Comments

President Barack Obama on Thursday renewed his push for paid leave for parents and other workers, saying he's astonished that so many people don't get paid sick leave. "How can we support working families so they have the tools to succeed in this new economy?" Obama said at a Baltimore cafe that offers earned sick...

Federal Survey Finds Moderate Economic Growth

January 15, 2015 2:56 pm | by Martin Crutsinger, AP Economics Writer | News | Comments

The U.S. economy was growing at a moderate pace in December and early January, helped by gains in sales of autos and other consumer products, but a big drop in oil prices was starting to have an impact in Texas and other energy regions, the Federal Reserve reported Wednesday. The Fed said business...

We Burn 2.7 Million Gallons A Minute, So Why Is Oil So Cheap?

January 15, 2015 2:51 pm | by Jonathan Fahey, AP Energy Writer | News | Comments

The world burns enough oil-derived fuels to drain an Olympic-sized swimming pool four times every minute. Global consumption has never been higher — and is rising. Yet the price of a barrel of oil has fallen by more than half over the past six months because the globe, experts say, is awash...

MAPI Foundation Business Index Slips Slightly

January 15, 2015 2:28 pm | by MAPI Foundation | Articles | Comments

The recent robust manufacturing performance should continue in the near-term despite marginal declines in some indicators, according to the quarterly MAPI Foundation Business Outlook, a survey conducted by the MAPI Foundation, the research affiliate of the Manufacturers Alliance for Productivity...

NAM On Tax Code: Doing Nothing Costs Us Something

January 15, 2015 2:22 pm | by Jamie Hennigan, National Association of Manufacturers | Articles | Comments

The delay by Washington lawmakers in overhauling the nation’s tax code is holding back the economic benefits of enacting a series of pro-growth tax policies, according to a new study commissioned by the National Association of Manufacturers (NAM) and conducted by economists at the University of...

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