Tag: factory

COVID-19 pandemic might amplify factory job trends

Michael Hicks
Published 1:00 a.m. ET Sept. 27, 2020

Michael HIcks (Photo: Photo provided by Ball State University)

From time to time it is helpful to think hard about Indiana’s manufacturing economy—what’s been happening to it, where it is going and what the future may hold. This is an election year, which brings with it a series of sordid untruths that need to be rectified. Moreover, the response to the COVID-19 pandemic holds a long-term prognosis for factory production and employment in Indiana. 

To begin, I want to slay the biggest myth that surrounds the manufacturing industry, which is that it is in decline. With the exception of a recession, the trend has been inexorably positive. In inflation-adjusted dollars, factory production in the United States peaked in 2019. However, factory employment has been declining since 1979. 

Last year, we in the U.S. produced 170 more manufactured good that we did

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Seidl assures McLaren factory sale won’t impact F1 team

this week revealed that McLaren aimed to boost its cashflow by selling the McLaren Technology Centre and then leasing it back. It is hoped that the move could raise around £200 million.

It is suggested that property agent Colliers has been instructed to begin the sale process.

News of the factory sale comes in the wake of a major financial headache for McLaren earlier this year, as the coronavirus pandemic hit both its automotive and racing businesses.

It had to arrange a £150 million loan with the National Bank of Bahrain to see it through the lockdown period, and it has looked at other financing ideas too – including the potential sale of a minority stake in the team.

But despite the move to raise extra cash through the factory sale, Seidl is clear that it is not an urgent response to any fresh financial concerns – and is instead

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Samsung to stop production at sole China TV factory by November

FILE PHOTO: The logo of Samsung Electronics is seen at its office building in Seoul, South Korea January 7, 2019. REUTERS/Kim Hong-Ji

SEOUL (Reuters) – Samsung Electronics (005930.KS) has decided to cease production at its only TV factory in China by the end of November, a spokesman said on Monday, the latest in a series of moves by the South Korean firm to shift production from the world’s second-largest economy.

The TV factory in Tianjin is the only Samsung Electronics TV production base in China, the spokesman said. The decision is part of “ongoing efforts to enhance efficiency” in its production facilities, Samsung said in a statement earlier.

The factory has about 300 workers, Yonhap news agency reported on Monday. Samsung declined to comment on the number of workers, but said some of the workers and equipment are expected to be retained.

The latest exit leaves Samsung Electronics

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Tech stocks fuel Wall Street rally as factory activity expands in August

By Medha Singh and Devik Jain

(Reuters) – The S&P 500 and the Nasdaq hit new highs on Tuesday with the tech-heavy index boosted by Apple and Zoom Video, while better-than-expected U.S. manufacturing sector data fueled optimism around a post-pandemic economic recovery.

Apple Inc gained 2.9%, rising for the second straight day after its stock split took effect. A report also said the company had asked suppliers to make at least 75 million 5G iPhones for later this year.

Zoom Video Communications Inc surged 38.6% after the video-conferencing platform raised its annual revenue forecast by more than 30% as it converted more of its huge free user base to paid subscriptions.

“There are limited options where you can buy growth, because the country is slowly reopening and tech does the best in the slow growth economy,” said Thomas Hayes, managing member at Great Hill Capital LLC in New York.

ISM

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