China’s overwhelming manufacturing cost advantage over the U.S. is shrinking fast. Within three years, a Boston Consulting Group analysis concludes that rising Chinese wages, higher U.S. productivity, a weaker dollar, and other factors will virtually close the cost gap between the U.S. and China for many goods consumed in North America.
A new study by the Economic Policy Institute finds that a growing trade deficit with China has cost the U.S. billions of dollars in lost wages. In 2011 alone, unbalanced trade with the People’s Republic resulted in lost U.S. wages of $37.0 billion. The EPI study cites 2.7 million U.S. jobs lost between 2001 and 2011 due to the trade gap with China, and over 2.1 million of those jobs were in the manufacturing sector.
A jury could begin deliberating as early as Tuesday to determine whether Toyota Motor Corp. should be held liable for the death of a California woman who was killed when her Camry apparently accelerated and crashed despite her efforts to stop.
A Union County man accused of selling thousands of counterfeit airbags has been sentenced to seven years in prison. Prosecutors say Igor Borodin sold more than 7,000 airbags on eBay that he obtained from Chinese manufacturers. Borodin, 27, pleaded guilty last October to trafficking in counterfeit airbags and delivering hazardous materials for air transportation.
Federal officials have cited an upstate New York manufacturer for 16 safety violations after a fatal forklift accident. National Pipe and Plastics, Inc. of Vestal has been cited by the Occupational Safety and Health Administration for serious violations of workplace health and safety standards.
Sales fell at General Motors, Toyota, and Volkswagen in September, an odd month that appears likely to snap a 27-month streak of gains for the American auto industry. But Ford and Chrysler appeared to have outperformed the industry, with sales on the rise.
American Crystal Sugar will default on a government loan of $71.2 million under a program that provides relief when a glut of sugar on the market depresses prices. David Berg, the company's president and CEO, said that forfeiting the sugar put up as collateral was the best option, given the very low prices that sugar is fetching.
Bridgestone will keep running its passenger car tire plant in Italy, dropping an earlier plan to close it in 2014, on the condition that the plant's productivity and costs improve, the Japanese firm's European arm said. An agreement was signed by all stakeholders including local institutions, the Ministry of Welfare and trade unions to implement a plan for the plant to focus solely on tires for general use, Bridgestone Europe NV/SA said.
The Insurance Institute for Highway Safety released the results of its first crash avoidance test for several car models. Both the Subaru Outback and Legacy received the highest ratings, while the Infiniti JX performed poorly.
Human Error Reduction Strategies© - provides attendees with the requisite skills and knowledge necessary to provide a rigorous understanding of human performance that will result in significantly reduced human errors and improved operational excellence in the workplace. This will answer the question "Why" it happened.
Congress plunged the nation into a partial government shutdown Tuesday as a protracted dispute over President Barack Obama's signature health care law reached a boiling point, forcing some 800,000 federal workers off the job. Obama readied a midday statement to the nation as Democrats and Republicans maintained a blame-each-other duel on Capitol Hill.
A Bozeman company that produces brass casings for ammunition manufacturers and individuals who load their own ammunition faces a possible $45,500 fine for failing to protect its employees from lead exposure, federal workplace safety regulators said Monday.
German carmaker BMW is recalling 176,000 vehicles from the model years 2012 to 2014 over a problem with the power brake system. The company says in rare cases an interruption in the oil supply to a part can mean the loss of power braking assist. The brakes will still work, but the driver would have to press harder on the pedal.
The City of Hattiesburg is suing Hercules Inc. and parent company Ashland Inc., claiming groundwater contamination from a closed factory may leach into the city's water supply. The city filed suit Thursday in federal court in Hattiesburg.
The drugmaker Merck said Tuesday that it plans to cut another 8,500 jobs as part of a plan to reduce its annual costs by about $2.5 billion by the end of 2015. In addition, Merck will move its headquarters from Whitehouse Station, N.J., to existing facilities in Kenilworth, N.J.
The eurozone's labor market appears to have stabilized, official figures indicated Tuesday, another sign that the eurozone economy is recovering from its longest-ever recession. Though Eurostat, the EU's statistics office, said the unemployment rate across the 17-member eurozone held steady at 12 percent in August, it found the number of people out of work fell for the third month running.
By implementing a Product Lifecycle Management system, companies benefit by simplifying each phase of the product development process. Due to their focus on product engineering, discrete manufacturers in the small-to-medium sized space typically adopt a PLM system to support best in class engineering processes and to address challenges with continual new product introductions, shorter product lifecycles and shrinking profit margins.
Virtually all analysts agree that, yes, many American manufacturers have been successful in bringing some previously lost business back home. But it’s happening at a slower pace than the industry had hoped. According to Henry Moser, the founder of the national Reshoring Initiative, the actual rate of reshoring is somewhere between a trickle and torrent.
Okuma America Corporation, a world-leader in CNC machine tool manufacturing, announces that Chris Davala has been chosen to receive one of ten scholarships given to current or transitioning employees in the manufacturing industry from the University of Phoenix and the Manufacturing Institute.
DEUS Rescue today announced a distribution agreement with 3M Company that will give the 3M Personal Safety Division exclusive distribution rights to DEUS Rescue products in fall protection-related industries. Under the agreement, 3M will sell DEUS® controlled descent devices, kits, and related accessories through its broad network of distributors and dealers starting in late 2013.