Posted 5 days ago
In 2004, intense corporate lobbying persuaded Congress to pass what was called the American Jobs Creation Act. A section of that bill, called the Homeland Investment Act, said that, for one time only, companies could bring the money home and pay only a 5.25 percent tax rate. Companies promised they would use the cash to invest in research and development, build plants and hire Americans. There were safeguards that were supposed to keep the money from being used to pay dividends.
The safeguards did not work. On average, one study reported, companies that brought back money used 60 percent or more of the cash to increase dividends or buy back stock. What they did not do was use the money to hire people or invest in the United States.
Posted 8 days ago
While comparative advantage is a subject for Econ 101, some in the US continue to ask why iPhones are not assembled in the US, since it may only add several dollars per unit to the cost.
A New York Times article from two years ago answered the question well. No single US city could provide a quarter of a million workers just to assemble iPhones like in China.
Such a question underlines a growing phenomenon in the US that Made in USA is being used as a marketing tool to cash in on Americans' strong patriotic sentiment.
Posted 9 days ago
On Sept. 21, 1984, CBS opened up the first American compact disc pressing plant in Terre Haute, Indiana. The first disc to come off the production line was Bruce Springsteen‘s ‘Born in the U.S.A.,’ which had been released three months earlier.
Given the album’s title and the spotlight on the plight of the American worker contained in many of his songs, it made perfect sense that Springsteen’s album became the first American-made CD. The format had been available for a couple of years by 1984, but they had previously only been manufactured in Japan and Germany. CBS’ plant — a collaboration with Sony, who had invented the compact disc with Philips — made it possible for CDs to gain a greater foothold in the U.S. market. Sony purchased Columbia Records, Springsteen’s label and a subsidiary of CBS, in 1988.
Posted 18 days ago
In looking at the prospect of bringing apparel manufacturing back to the U.S., I see the world not through a domestic lens, but a global one. If America is indeed to see a surge in domestic apparel manufacturing, it will be because its engineers and scientists develop new machinery and new software that can automate, speed up and lower the costs of production, thereby enabling the country to compete with the likes of low-cost Bangladesh. There is opportunity here. But are we allocating our energies and resources to the right battle?
Posted 20 days ago
"This defines the word 'epic.' It's history-making and it's something these kids will remember for the rest of their lives," said Ranger Vince Vaise, of the National Park Service.
"They get to be right here where the history happened. Anytime they get a chance to be where history actually happened, it's going to make a deeper impact on them as opposed to just reading it from a book or seeing it from a video. They're living history right now," said Kathryn Berling, a teacher.
Posted 21 days ago
GE Appliance employs about 12,000 workers, half of which are located at GE's historic, 900-acre Appliance Park in Kentucky. Other major factories are in LaFayette, Georgia and Bloomington, Indiana. But notably, some of those factories are state of the art: After failing to sell in 2008, GE invested over $1 billion into its appliance business, replacing aging equipment and training employees in new technology. Most of Electrolux's research and development is done in Europe, while GE's is mostly done on site at Appliance Park.
Posted 25 days ago
Mel Redman, CEO of Redman & Associates, said in a statement delivered to Arkansas Business on Friday afternoon that Chinese importer Sales Chief Ent. (Hong Kong) Co. engaged in an "underhanded strategy" in an attempt to disrupt Wal-Mart Stores Inc.'s initiative to bring manufacturing jobs back to the United States. R&A alleged in its lawsuit that Ellen Liu, executive director of Sales Chief, "made clear her intention to derail the Made in USA initiative" in a meeting with Redman & Associates officials earlier this year.
Posted 33 days ago
From there, eBay figured out which items shoppers buy on its site the most, in all 50 states and Washington, D.C. Curious revelations abound, like the fact that firearms are the most popular in New York, even though the state has one of the toughest gun laws in America. North Carolina buys the most baby products (despite not having the highest birth rate — that would be Utah), while the paranoid folks of Oregon buy the most security and surveillance items.
Posted 34 days ago
Learning that U.S. Navy commissioning coins were made in China is more than Middle Paxton Twp. resident Gene Stilp can tolerate.
The citizen activist doesn't like seeing the "Made in China" label on any product, knowing it signals the continued erosion of America's manufacturing base. But having the United States military buying Chinese-made commemorative coins is an insult to those who wear its uniforms, he said.
Posted 35 days ago
Lobbyists are scrambling to align with producers and refiners to change export laws