All sectors of the economy took a significant hit from the coronavirus pandemic and the subsequent lockdowns, but the manufacturing sector — already hard hit by past recessions and outsourcing to China — was particularly affected. Despite the economic devastation and U.S. manufacturing’s decades-long decline, there are several indications that U.S. manufacturing may actually emerge from the pandemic stronger and become poised for a comeback in the future. Even though President Donald Trump made bringing manufacturing jobs back to the U.S., especially in the critical battleground states of the Rust Belt, a cornerstone of his 2016 presidential campaign, it continued to decline during his presidency. In 2000, industrial firms made up 15% of the S&P 500 Index, but it had fallen to less than 9% by 2020, according to The Wall Street Journal (WSJ). The sector has lost over 4 million jobs since 2000, CNN Business reported . While some industries, like pharmaceuticals and … [Read more...] about Here’s Why US Manufacturing May Be Poised For A Comeback
Low paying manufacturing jobs
Share to Twitter Share to Linkedin Steve Earle, international vice president of the United Mine Workers, from Greenville, Ky., left, is ... [+] arrested, along with 13 other UMWA members, by Pittsburgh Police for blocking the sidewalk in front of the William S. Moorhead Federal Building after leading a march of some 5000 union members and supporters in protest of stricter pollution rules for coal-burning power plants in Pittsburgh, Thursday, July 31, 2014. (AP Photo/Gene J. Puskar) ASSOCIATED PRESS Labor unions are critical pillars of liberal politics. Are they equally strong pillars of climate politics and, in particular, the Green New Deal? The Green New Deal (GND) resolution lists policies such as creating well-paying union jobs, training, advancement opportunities for workers, workplace safety, and even enacting trade policies that strongly protect labor. These are precisely the sort of policies that labor unions strongly support. … [Read more...] about Labor Unions And the Green New Deal: Love, Hate, Or Indifference?
Share to Twitter Share to Linkedin In September 2015, the US Environmental Protection Agency charged Volkswagen with installing software in their diesel-powered cars that allowed the vehicles to cheat on EPA emissions tests. The vehicles’ real-world Nitrogen Oxide (NOX) emissions were 40 times higher than U.S. standards permitted. The ensuing scandal, known as “Dieselgate,” proved to be the most expensive - over $30 billion in fines and damages - and largest in the history of the automotive industry. The discovery sent the 80-year-old industry leader into a spiral—its brand was battered, huge fines threatened its survival, VW officials were caught lying in an attempted cover up, and VW’s CEO Martin Winterkorn resigned. The following summer, in 2016, nine individuals , representing a diverse set of skills and backgrounds, were invited by Volkswagen group to form a Sustainability Council to help the company transform itself into a world-leading provider of … [Read more...] about From Emissions Cheater To Climate Leader: VW’s Journey From Dieselgate To Embracing E-Mobility
We are bringing you a conversation I had the pleasure of hosting with Shannon Saccocia, the Chief Investment Officer (CIO) for SVB Private Bank, in partnership with YCharts , later on in the show. Shannon and I ripped through a few of the most important charts in the world to understand the trends and sentiment moving markets right now, and what to expect next year. That's coming up in a few minutes. But first, let's get into it. U.S. equity markets added another week of gains last week, but it wasn't calm or orderly. A speech from Fed Chair Jerome Powell on Wednesday, where he indicated that the pace of rate hikes may slow if inflation continues its downward trend—that sent stocks soaring. The Nasdaq jumped 4.4% on the day, one of its largest daily increases in history. Get this—two of the ten largest moves for the Nasdaq Composite over the past decade occurred this past November. That's why November is considered a bear market killer, and that's why it's rarely a good … [Read more...] about Strategic Investing in the Home Stretch of 2022
Share to Twitter Share to Linkedin Taiwan Semiconductor Manufacturing Co., one of the world’s largest semiconductor makers, said today it will more than triple its planned investment in Arizona to $40 billion from a previously announced $12 billion. Combined, its two announced Arizona projects represent one of the largest foreign direct investments in the history of the United States, TSMC said. The new $28 billion of funds unveiled today would be for a second facility that would use TSMC’s current leading-edge three nanometer (one billionth of a meter) process technology beginning in 2026. Its first facility is scheduled to start production in 2024. The investment comes amid a U.S. push to boost domestic supplies of semiconductors. Congressional passage of the $52 billion CHIPS and Science Act this year is helping to attract investment in the U.S. from the likes of Intel, Samsung and GlobalFoundries. TSMC, a supplier to Apple and Nvidia among other … [Read more...] about TSMC Will Triple Arizona Investment To $40 Billion, Among Largest Foreign Outlays In U.S. History
This article first appeared in Wealth, The Edge Malaysia Weekly, on November 28, 2022 - December 04, 2022. "I tell my staff that you can’t be saying what the whole market is saying and giving wishy-washy answers all the time. When you don’t express your views, you don’t take risks. And over time, why would I need you? I could have just bought an ETF, it’s cheaper. That’s why fund managers lose their jobs when they have no views.” - Teng - A + A Datuk Teng Chee Wai is virtually synonymous with AHAM Capital, formerly known as Affin Hwang Asset Management Bhd. The founder and CEO has been the driving force behind the fund management firm’s rapid growth since its inception 22 years ago. AHAM Capital’s assets under administration (AUA) have swelled to about RM75 billion (as at June), quadrupling that from a decade ago. From a small player in town, it has propelled itself into the top three firms in the industry, coming in just behind Public Mutual Bhd and … [Read more...] about Cover Story: AHAM Capital old guard to stay on, eyeing regional expansion