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News from Worker Development, Industry, the Economy, Education, Science, and much more! |
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Do You Have Worker KPI Measures in Place? If So, Are You Measuring Anything Useful? |
by Dean Prigelmeier, President of Proactive Technologies, Inc.
Recently, I met with the management team of a tier 1 and 2 automobile supplier to discuss the merits of structured on-the-job training ("SOJT") for their firm. After I had toured their operation and was progressing through my presentation slides to the part dealing with the SOJT metrics and reporting that the PROTECH© system of manage human resource development provides, I was pleasantly surprised by a question I do not often hear in my presentations – especially from anyone in human resources.
This director of human resources asked what may seem like a simple question: “So can this data in these reports be used as KPIs?” After recovering from being startled, I smiled and said, “Yes! Yes, of course. That’s exactly what these reports are for and how they should be used.”
According to Wikipedia, “ A performance indicator or key performance indicator ("KPI") is a type of performance measurement. KPIs evaluate the success of an organization or of a particular activity (such as projects, programs, products and other initiatives) in which it engages. KPIs provide a focus for strategic and operational improvement, create an analytical basis for decision making and help focus attention on what matters most.”
The reason for my surprise that I was asked the question is, after perhaps thousands of presentations over some 35 years, I still receive mixed reactions to SOJT. Some react as if I’m showing them the holy grail of worker development as they express wonder at why they had not seen it before. Some seem to be underwhelmed by the broad capabilities of this approach to SOJT, the thorough recordkeeping, reporting, change control and, therefore, support for quality, safety, and engineering specifications compliance. It seems to boil down to the level of realization of the lack of adequate tools to develop and measure worker capacity as well as worker output to expectations that have led many to avoid the topic for fear of the answers; that it might expose limitations in their existing worker development strategy. It is surprising the number of companies I meet with that the only evidence of any kind of worker development performed at their operation is a few hours noted on a time sheet as “training,” when in fact every person in every job is receiving informal, unstructured and undocumented task-based on-the-job training every day. How much time in training is not as illustrative as which tasks have been mastered for the time spent. Read More
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The Challenges of "Team Building" Projects |
by Stacey Lett, Director of Operations - Eastern U.S. - Proactive Technologies, Inc.
We have all been there. Assigned to a project along with several others and declared “a team.“ Sometimes they work well, sometimes they result in endless meetings, endless meaningless reports, rivalries between team members as some jockey for position to be seen by management, or worse yet, the team is hijacked by that one self-appointed “leader” in the group that is convinced they know everything, but evidence shows quite the contrary…and the more that is pointed out, the more they feel threatened and push back.
Team building is a “collective term for various types of activities used to enhance social relations and define roles within teams, often involving collaborative tasks.” It is also a management tool to “expose and address interpersonal problems within the group.”
Whenever people join together to work on a common project, no matter if it is two people or 20 people, the organizational dynamics and personality differences, the aspirations of the individuals and each member’s level of dedication and self-motivation will determine the outcome of the project more than the importance of the assignment itself. In cases where that one, perhaps overly ambitious, individual who has learned to control the agenda through intimidation, or the team wanders without direction, other team members (and potential team members for future projects) may react in various ways – some very undesirable. These include: Read More
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County Economic Development Hosts Informational Meeting for Area Manufacturing Leaders on the Structured OJT |
Proactive Technologies, Inc. - Staff
On March 7, 2023 The Wyandot County, OH Economic Development office hosted a day of informational presentations for local manufacturing leaders to discuss structured on-the-job training (“SOJT”), and its potential to accelerate the transfer of worker expertise to not only train the new workers an employer needs, but to close the training gaps of incumbent workers who may not have received formal, structured, training on the tasks that their employer expects them to master.
The site/host was chosen due to the close proximity to many other Proactive Technologies, Inc. (“PTI”) SOJT training projects with manufacturing employers in the region. In addition to Gregory Moon, Executive Director of the Wyandot County Economic Development and several local manufacturing representatives, in attendance were Greater Ohio Workforce Board - WIOA Area 7 representatives: Carol Kern, Ohio Job and Family Services – Seneca County, Diana Jacoby, Ohio Job and Family Services – Wyandot County, Marcia Frisch, Ohio Job and Family Services – Wyandot County, Kelly Carey, Ohio Job and Family Services – Delaware, Knox, Marion and Morrow Counties. Also attending was Frank Gibson, formally Program Manager for The Ohio State University – Alber Enterprise Center (retired, now an independent Management and Workforce Excellence Advisor).
The SOJT approach presented is rooted in the Navy and Air Force models of technical training, but made “user friendly” for private sector employers. PTI has automated the development of the tools of the human resource development process based on data derived from a thorough job/task analysis of each employer's targeted job classifications using their subject matter experts. PTI provides technical implementation support to employer-clients to set-up, implement, document the SOJT process for each worker as tasks are mastered - even through a world of change - and provides monthly reporting. PTI researches and provides grant application and support that reimburses employers for the training delivery (something that is occurring anyway in an informal, unstructured and undocumented way regardless, without reimbursement). Employers can focus on their business while their workforce is driven to “full job mastery.” Read More
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Costs Associated With Unstructured, Haphazard Worker Training (Part 1 of 2) |
by Dean Prigelmeier, President of Proactive Technologies, Inc.
I have met with many employers, in most industries, since 1987 when providing technical workforce development services. Often, I am led to draw upon my own experiences when I worked in product configuration management, quality assurance, quality control and human resource development positions before starting my own company. After all, it was my frustration with the state of common practices in improving, measuring and managing performance that led me to start my own business. I hoped to help other employers address the issues that I was not allowed to in the positions I held due to interdepartmental friction or strict organizational boundaries associated with larger corporations.
I have many memories from that period, but there is one that continues to perplex me when I see it manifested at companies I visit. Sometimes I get the shivers and a foreboding sense of déjà vu.
Without exception, management expresses shear excitement when showcasing their latest technology and innovations. Equipment that will do what they previously have been doing but now faster, better and cheaper. New and better “best practices” and processes from continuous improvement efforts. Though impressed, I am reminded of the tradeoffs that must be considered in order to take advantage of the latest technology or process, or risk not realizing the improvement’s full potential.
The question is, “what truly takes less time and keeps costs down; throwing two people together and hoping for the best or a thoughtful, structured and deliberate task-based structured on-the-job training program for the ‘accelerated transfer of expertiseTM?’”
Prior to starting my own company, while working at one major aerospace manufacturer in the quality control department, a department meeting was called to inform us that within the week three $500,000 Zeiss coordinate measurement machines were going to be installed. Of course we were excited – this was truly state of the art at that time. The equipment was delivered, carefully installed and calibrated as advertised and each quality inspector couldn’t wait for their turn to learn how to use it. Read More
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IN THIS ISSUE:
Proactive Technologies, Inc. Worker Development News
Industry News
Financial News
Economic News
International News
International Trade News
Education and Workforce Development News
Training and Organizational Development News
Quality News
Science
Cyber and IT News
Human Resources Management News
Environmental, Health & Safety News
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Proactive Technologies, Inc.™ -
capturing worker expertise to build and support job specific, task-based worker development programs (with metric-based solutions) since 1986.
Experience the power of the
Develop all the expert workers you need in a fraction of the time, with a fraction of the investment! Increased worker capacity, work quality and quantity, and worker compliance (ISO9001:2015, AS9100D, IATF16949, engineering and quality specifications, and safety requirements)."
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Free - Live Online Presentation Schedule
If interested in attending one of the presentations below, click on the title, then select a date/time and press "Send." An online presentation invitation and link will be sent to you. On the date and time of the event, just click on link in email invitation and it will connect you to the presentation. No special equipment required.
Click here for descriptions of all of the available presentations. Click on a specific title for that specific description and schedule or to schedule a date and time that works for you.
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PTI Promo - (Recorded - Available Any Time): A Preview of an Upcoming Presentation (13 minutes)
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If you would like more information or would like to discuss these presentations or anything else, click on the "View Live Upcoming Presentations/Calendar" button below and fill in the "Contact Us" with your request including information specifying an alternative date/time you prefer and how many will be attending. An invitation and link will be sent to you.
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Onsite and group presentations
are being scheduled for the following states, and a representative will be in your area, in the month of:
April, 2022
Proactive Technologies is currently scheduling stops in the following areas:
ARIZONA
COLORADO
ILLINOIS – Southern, I-80 Corridor
INDIANA
KANSAS – I-70 Corridor, Wichita
MISSOURI
NEVADA
NORTH CAROLINA
OHIO
SOUTH CAROLINA
WISCONSIN - Southern
ONLINE VIDEO PRESENTATIONS -If you are interested in attending one of our regularly scheduled videoconferences, select from the schedule above or visit our website and select a videoconference from the calendar. An email invitation will be sent to you confirming your selection. This videoconference will be to your computer and no other equipment is required. This can be followed by an onsite presentation, at your request.
If you would like more information or would like to schedule a custom briefing and presentation videoconference for you and your staff, click on the "contact us" link below.
Contact Us to express your interest in an onsite or group presentation.
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U.S. Department of Commerce - Bureau of Economic Analysis |
Gross Domestic Product, Fourth Quarter and Year 2022 (Third Estimate), GDP by Industry, and Corporate Profits
Real gross domestic product (GDP) increased at an annual rate of 2.6 percent in the fourth quarter of 2022, after increasing 3.2 percent in the third quarter. The increase in the fourth quarter primarily reflected increases in inventory investment and consumer spending that were partly offset by a decrease in housing investment.
Profits decreased 2.0 percent in the fourth quarter after decreasing less than 0.1 percent in the third quarter.
Private goods-producing industries increased 4.0 percent, private services-producing industries increased 2.3 percent, and government increased 2.1 percent. Overall, 17 of 22 industry groups contributed to the fourth-quarter increase in real GDP. Read Report
Personal Income and Outlays, February 2023
Personal income increased $72.9 billion, or 0.3 percent at a monthly rate, while consumer spending increased $27.9 billion, or 0.2 percent, in February. The increase in personal income primarily reflected an increase in compensation. The personal saving rate (that is, personal saving as a percentage of disposable personal income) was 4.6 percent in February, compared with 4.4 percent in January. Read Report
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U.S. Department of Commerce - Bureau of the Census |
Advanced Report on Durable Goods Manufacturers’ Shipments, Inventories, and Orders
New orders for manufactured durable goods in February, down three of the last four months, decreased $2.6 billion or 1.0 percent to $268.4 billion, the U.S. Census Bureau announced today. February 2023: -1.0° % Change; January 2023 (r): -5.0° % Change. Read Report
Manufacturers’ Shipments, Inventories, and Orders
New orders for manufactured goods in January, down two of the last three months, decreased $8.9 billion or 1.6 percent to $542.8 billion. January 2023: -1.6° % Change; December 2022 (r): +1.7° % Change. Read Report
Household Pulse Survey
What is the Household Pulse Survey?
The U.S. Census Bureau, in collaboration with multiple federal agencies, is in a unique position to produce data on the social and economic effects of coronavirus on American households. The Household Pulse Survey is designed to deploy quickly and efficiently, collecting data to measure household experiences during the coronavirus pandemic. Data will be disseminated in near real-time to inform federal and state response and recovery planning. Read Data
Small Business Pulse Survey
The Small Business Pulse Survey (Business Pulse) measures the effect of changing business conditions during the Coronavirus pandemic on our nation's small businesses. Business Pulse complements existing U.S. Census Bureau data collections by providing high-frequency, detailed information on the challenges small businesses are facing during the Coronavirus pandemic as well as their participation in federal programs such as the Paycheck Protection Program. Read Report
Monthly State Retail Sales
The Monthly State Retail Sales (MSRS) is the Census Bureau's new experimental data product featuring modeled state-level retail sales. This is a blended data product using Monthly Retail Trade Survey data, administrative data, and third-party data. Year-over-year percent changes are available for Total Retail Sales excluding Nonstore Retailers as well as 11 retail North American Industry Classification System (NAICS) retail subsectors. These data are provided by state and NAICS codes beginning with January 2019. The Census Bureau plans to continue to improve the methodology to be able to publish more data in the future. Access Tables
Economic Indicators
A composite of many of the requested domestic facts and figures. Visit Table
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U. S. Department of Labor Statistics |
Consumer Price Index
The Consumer Price Index for All Urban Consumers (CPI-U) rose 0.4 percent in February on a
seasonally adjusted basis, after increasing 0.5 percent in January, the U.S. Bureau of Labor Statistics
reported today. Over the last 12 months, the all items index increased 6.0 percent before seasonal
adjustment.
The index for shelter was the largest contributor to the monthly all items increase, accounting for over
70 percent of the increase, with the indexes for food, recreation, and household furnishings and
operations also contributing. The food index increased 0.4 percent over the month with the food at home
index rising 0.3 percent. The energy index decreased 0.6 percent over the month as the natural gas and
Producer Price Index
The Producer Price Index for Final Demand decreased 0.1 percent in February, seasonally adjusted, the U.S. Bureau of Labor Statistics reported today. Final demand prices advanced 0.3 percent in January and declined 0.2 percent in December 2022. (See table A.) On an unadjusted basis, the final demand index rose 4.6 percent for the 12 months ended in February.
In February, the decline in the final demand index was led by prices for final demand goods, which fell
0.2 percent. The index for final demand services edged down 0.1 percent. Read Report
Job Openings and Labor Turnover
The number of job openings decreased to 10.8 million on the last business day of January, the U.S.
Bureau of Labor Statistics reported today. Over the month, the number of hires and total separations
changed little at 6.4 million and 5.9 million, respectively. Within separations, quits (3.9 million)
decreased, while layoffs and discharges (1.7 million) increased. This release includes estimates of the
number and rate of job openings, hires, and separations for the total nonfarm sector, by industry, and by
establishment size class. This release also presents 2022 annual estimates for job openings, hires, and
Unemployment Rate for States
Unemployment Rates for States, Seasonally Adjusted. Read Report
Civilian Labor Participation Rate
For a 20 year chart of the U.S. Civilian Labor Participation Rate. Read Report
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U.S. Private Sector Job Quality Index |
University of Buffalo - School of Management
The U.S. Private Sector Job Quality Index (JQI) assesses job quality in the United States by measuring desirable higher-wage/higher-hour jobs versus lower-wage/lower-hour jobs. The JQI results also may serve as a proxy for the overall health of the U.S. jobs market, since the index enables month-by-month tracking of the direction and degree of change in high-to-low job composition.
By tracking this information, policymakers and financial market participants can be more fully informed of past developments, current trends, and likely future developments in the absence of policy intervention. Economists and international organizations have in recent years developed other, complementary conceptions of job quality such as those addressing the emotional satisfaction employees derive from their jobs.
For the purposes of this JQI, “job quality” means the weekly dollar-income a job generates for an employee. Payment, after all, is a primary reason why people work: the income generated by a job being necessary to maintain a standard of living, to provide for the essentials of life and, hopefully, to save for retirement, among other things. Read Report
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USPS Takes a Detour on Oshkosh BEV Plan, Awarding Ford a Contract |
IndustryWeek - Laura Putre
The United States Postal Service announced yesterday that it will purchase 9,250 Ford E-Transits off the shelf as part of its plan to electrify its vehicle fleet.
The announcement, while not unexpected, is a departure from USPS’s original plan, announced in early 2021, to award Oshkosh Defense a contract to manufacture USPS vehicles, both gas-powered and electric.
Under the original contract, only 10% of these vehicles were designated electric, and 90% gas-powered. Read Article
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Zuckerberg Quietly Buries Metaverse |
Express Tribune – Tech Desk
After a failed idea and its expected revolutionary impact, Metaverse is quietly taken down to focus on AI
Meta CEO Mark Zuckerberg has quitely buried the 'future of technology' - the Metaverse - as the tech giant focuses on AI.
The Metaverse was a virtual social platform that allowed users to interact with each other in real-time, as well as attend live events and concerts, using specialized glasses and virtual-reality headsets.
Confident in the Metaverse as the future, Zuckerberg had invested time and money into the idea, only to be proven wrong with the launch and hype of AI programs like ChatGPT. Read Article
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Ford Seeks Patent to Repossess a Car Remotely — By Locking Owners Out of Their Cars and Cutting Off AC |
MarketWatch - Claudia Assis
Ford Motor Co. has applied for a patent to make remote car repossessions nearly seamless for lenders — and deeply unpleasant for car owners in default, who may endure an “incessant” sound, sweat out disabled air conditioning, and eventually get locked out of their car.
The patent application, published in late February, envisions a repo Big Brother that would unleash a series of inconveniences, some surprisingly crafty, to prompt owners to pay overdue bills — or, in an autonomous-vehicle future, a driverless trip to the repo yard or junkyard. Read Article
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Job Quality Index Edges Up Slightly as High and Low Quality Jobs Rise |
Coalition for a Prosperous America
WASHINGTON — The Coalition for a Prosperous America (CPA) today announced that the U.S. Private Sector Job Quality Index (JQI) edged up by a tiny 0.016% in January to 84.11 as high-quality and low-quality jobs each rose in the month.
Hospital jobs rose by 12,000 to 4.821 million while full-service restaurant employment rose by 31,000 to a total of 4.794 million. Hospital employment is on average high quality, i.e. its average weekly wage for production and nonsupervisory workers was $1414.70 in January, above the national average of $965.60. Full-service restaurant jobs are low-quality with average weekly wages for production and nonsupervisory employees at $467.71. Read Article
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Congressman: Norfolk Southern Exec 'Should Have Disclosed' Cash Awards |
Scripps News - Mark Greenblatt and Carrie Cochran
Days after Scripps News revealed top railroad leaders got cash for lengthening trains and cutting costs, CEO Alan Shaw pledged to donate stock.
As the chief executive officer of the Norfolk Southern railroad prepares to appear before a Senate committee Thursday to answer questions about the train derailment in East Palestine, Ohio, multiple members of Congress are speaking out about what a Scripps News investigation revealed last week: The CEO, along with other executives, received millions of dollars in cash awards after the company cut costs and began running longer trains. Scripps News learned that the train's length, which spanned nearly 2 miles, is being investigated as a potential contributing factor in the toxic disaster.
"I want to see performance incentives for driving safety, not just for driving profits for Wall Street," said U.S. Rep. Seth Moulton. Read Article
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Caterpillar Ratifies UAW Contract that Eliminates Two-Tier Wages, Prohibits Plant Closures |
IndustryWeek - Staff
The 6-year contract covers 7,000 Caterpillar Inc. employees in Pennsylvania and Illinois.
United Auto Workers at four Caterpillar Inc. locals in Illinois and Pennsylvania voted to approve a new 6-year contract with the agriculture and construction equipment manufacturer over the weekend. In a brief statement March 12, the UAW confirmed the new contract, covering 7,000 UAW-represented employees, would go into effect immediately.
The contract ratification means Caterpillar will dodge the strikes that plagued rival manufacturers Deere & Co. and CNH Industrial in 2021 and 2022. Read Article
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Siemens Spinning Off Motors and Drives Businesses |
American Machinist
A new, wholly owned business called Innomotics will incorporate the industrial group’s current low-voltage to high-voltage motor, geared motor, medium-voltage converter, and motorized spindle products.
Siemens AG is setting up a new business to contain its current motors and drives business, covering low-voltage to high-voltage motors, geared motors, medium-voltage converters and motorized spindles. The wholly owned subsidiary, to be called Innomotics, will be established in Germany by July 1 and the global organization will be in place by October 1, according to Siemens.
The spin-off strategy has been adopted frequently by Siemens in recent three years as it downsizes its industrial portfolio. Read Article
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Stanley Black & Decker Cutting in Texas and South Carolina, Adding in Tennessee |
IndustryWeek - Geert De Lombaerde
The tool-making giant will shed about 275 jobs with the moves, which are part of a $2 billion global cost-cutting plan.
Executives of Stanley Black & Decker Inc. have taken another step on their journey to streamline the company, saying they will close facilities in North Texas and South Carolina and move work being done at the latter to two plants in Tennessee.
Connecticut-based Stanley Black & Decker said March 20 the moves will result in the loss of about 180 South Carolina jobs that have been focused on making saws, tape measures and tool boxes as well as 175 layoffs in Texas, where workers had been making Craftsman-branded mechanics tools in Fort Worth. Read Article
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Electric Cars are Creating a New Economy — and Leaving Some Towns Behind |
Area Development - Washington Post, Jeanne Whalen
Workers and small businesses in Belvidere, Ill., are dealing with the aftermath of mass layoffs, after Stellantis idled its Jeep factory.
Early last year, workers at a Jeep factory here hoped their plant would be converted to an electric vehicle facility as the auto industry revamps for a green-energy future. Engineers came to take measurements for a possible retooling, and rumors spread that electric sports cars were on the agenda.
But those hopes crumbled last month when the corporate parent company, Stellantis, ended production at the 58-year-old plant and laid off roughly 1,200 workers, ripping the heart out of this small town 70 miles northwest of Chicago. Read Article
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Proven Solutions for Employers and Education
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Classes alone will not close the "skills gap," but structured on-the-job training can...every time! |
Under-capacity of workers is an enormous source of untapped value and unrealized return on worker investment. In addition, standardizing expert task performance -between workers and shifts - can add to worker ROI through lower scrap and rework.
- Increased worker capacity, productivity, work quantity, work quality and compliance (specifications, ISO/AS/IATF programs and safety mandates);
- Decreased internal costs of training
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Higher return on worker investment! You would be surprised how small of an investment is needed to unlock enormous returns.
If budgets are tight, Proactive Technologies, Inc. can be an extension to your training department, with our technical implementation support - included with every project!
There's nothing to lose by taking a minute to contact us to learn more. Copyright © 2019-23 Proactive Technologies, Inc.™
ALL RIGHTS RESERVED
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Core Skill Development and Enhancement |
- Skill, Knowledge and Behavioral Assessments
- Intro and Advanced Blueprint Reading Courses Geometric Dimensioning and Tolerancing
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- Training Materials and Online Courses
Copyright © 2019-23 Lifetime Learning
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If your institution is interested in becoming a Proactive Technologies, Inc. project partner, contact a representative for more information. |
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Merger Filing Fee Hikes Go into Effect |
CFO Dive - Alexei Alexis, Reporter
Dive Brief:
- Effective Monday, companies will be required to pay the U.S. government higher filing fees for large merger deals, with costs skyrocketing by as much as 700% in some cases.
- The new fees, which were included in omnibus spending legislation enacted by Congress at the end of last year, are intended to raise additional revenue for U.S. antitrust enforcement efforts at the Federal Trade Commission and U.S. Department of Justice.
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Filing fees for the largest transactions valued at over $5 billion have now increased to $2.25 million, up from $280,000. Fees for the smallest deals valued at between $101 million and $161.5 million decreased to $30,000 from $45,000. Read Article
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Doth Buffett Protest GAAP Too Much? |
CFO Dive - Maura Webber Sadovi, Senior Editor
Warren Buffett — CEO of Berkshire Hathaway and one of the world’s most renowned investors — didn’t disappoint fans of his folksy, acerbic writing in his latest letter to shareholders.
The Oracle from Omaha expressed his confidence in the U.S. economy, called near-term economic and market forecasts “worse than useless,” decried critics of stock buybacks and asserted “imaginative accounting” has become “one of the shames of capitalism.”
Also tucked into the missive was a section addressing his long-held frustration with a generally accepted accounting principles rule — a frustration likely shared by CFOs and their accounting departments struggling to meet earnings expectations each quarter. Read Article
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Number of Finance FTEs Benchmarks AR Efficiency: Metric of the Month |
CFO.com - Perry D. Wiggins
Standardized and digitized processes are important to keep your accounts receivable employee headcount as low as reasonably possible.
Accounts receivable (AR) is one of the most critical and high-volume processes that organizations carry out. Delays in this process mean less working capital and liquidity, making AR one area where improving efficiency can pay off exponentially.
One good way to measure the efficiency of your AR process is by tracking the number of full-time equivalent employees (FTEs) it takes to carry out the process. Simply put, the fewer people it takes to do the job, the more likely your team is doing the work in the right way. After reviewing cross-industry data for this measure, we highlight strategies that leading organizations carry out to keep AR headcount as low as possible. Read Article
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Lawsuits Allege Kroger Payroll Transition Glitch Led to Missed, Incorrect Paychecks |
HR Dive - Ryan Golden, Senior Reporter
HR Dive identified at least four suits filed by Kroger employees on behalf of themselves and others similarly situated across federal district courts in Washington, Oregon, Ohio and Virginia.
A series of class-action lawsuits against Kroger and its subsidiaries allege that the grocer violated state and federal wage-and-hour laws when the implementation of a new timekeeping and payroll system produced errors between September and November 2022.
In one of the suits, employees alleged that Kroger began transitioning to the new system, known as “MyTime” or “MyInfo,” in 2022 (Austin v. Kroger Limited Partnership I Mid-Atlantic Marketing Area No. 3:23-cv-00048 (E.D. Va. Jan. 19, 2023)). Read Article
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Instant View: SVB Meltdown Triggers Gyrations in Global Bank Shares |
U.S. News & World Report - Reuters
California banking regulators on Friday closed SVB Financial Group, the largest bank failure since the financial crisis, moving quickly to protect depositors as a crisis at the startup-focused lender rippled through global markets and hit banking stocks.
The regulator appointed the Federal Deposit Insurance Corporation (FDIC)as receiver. The failure of troubled tech-lender SVB Financial Group's rippled through global markets and sent shares of many banks tumbling, although some larger U.S. banks recovered in morning trade.
The SBV meltdown, which began on Thursday, spread concern about hidden risks in the banking sector and its vulnerability to the rising cost of money. Read Article
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What To Know About Silicon Valley Bank’s Collapse—The Biggest Bank Failure Since 2008 |
Forbes - Conor Murray
TOPLINE Silicon Valley Bank collapsed in spectacular fashion Friday just days after it announced big losses, failing at attempts to raise funds or seek out a buyer, and creating the biggest bank failure in the United States since the Great Recession.
KEY FACTS
- California-based Silicon Valley Bank was closed Friday morning by the state’s financial regulator, the Federal Deposit Insurance Corporation announced, becoming the largest bank to fail since the 2008 financial crisis.
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The closure caps a few tumultuous days for SVB—a lender to technology startups—after it announced Wednesday it had sold $21 billion in securities at a loss of $1.8 billion and would seek to raise $2.25 billion in capital (it sought to sell $1.25 billion in common stock and $500 million in convertible preferred shares, and it announced a deal with General Atlantic to sell another $500 million of common stock contingent on the other common stock offering closing). Read Article
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US Guarantees All Deposits After Silicon Valley Bank Collapse, as Biden Promises Action |
The Guardian - Edward Helmore
Announcement comes as Signature Bank was closed on Sunday by regulators – the second to fail in a week.
US financial regulators rolled out emergency measures Sunday night to stem potential contagion from the collapse of Silicon Valley Bank. The measures include ensuring that depositors with the failed bank would have access to all their money on Monday morning.
Regulators announced the measure in a joint statement from the treasury secretary, Janet Yellen, the Federal Reserve chair, Jerome Powell, and the Federal Deposit Insurance Corporation (FDIC) chair, Martin Gruenberg. Read Article
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Three U.S. Banks Down. One More in Focus. Does It End Here? |
The Street - Luc Olinga
Silvergate, Silicon Valley Bank and Signature Bank collapsed in the same week. All eyes are now on First Republic Bank.
It looks a bit like the mystery novel "And Then There Were None" by the British writer Agatha Christie -- with the only difference that it's real.
And the reality is shaking international business, political and economic circles.
In one week, three banks playing an important role in financing the startup economy collapsed. Two were closed by U.S. regulators, becoming the second and third biggest bank failures in history after Washington Mutual in 2008. These are Silicon Valley Bank (SIVB) - Get Free Report, which regulators closed on March 10, and Signature Bank New York, which suffered the same fate March 12. Read Article
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A Scary Weekend In Silicon Valley |
NPR Planet Money - Bobby Allyn, David Gura, Paddy Hirsch, and Greg Rosalsky
Stefan Kalb was in the middle of a meeting around 1 p.m. on Thursday when a fellow company executive sent him a panicked Slack message: "Do you know what's happening at SVB?"
Kalb, the CEO and co-founder of Seattle-based food management startup Shelf Engine, had been following news of a bank run at Silicon Valley Bank. Droves of depositors were attempting to pull out as much as $42 billion from the bank on Thursday alone, as fear spread that the bank was teetering on the brink of collapse.
The bank seemed to be on firm financial footing on Wednesday. The following day, it appeared to be under water. Read Article
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Preparing for an IPO in 2023: What to Know |
CFO.com - Adam Zaki
As the economy swirls with uncertainty, finance leaders looking to go public have options if they take the right approach.
Inflation continues to bombard the economy alongside rising interest rates, an unpredictable labor market, and insolvency issues for banks, and the thought of going public in such an unpredictable market may be far-fetched for finance leaders who are looking to batten down the hatches and ride out whatever type of economical wave is ahead.
But for finance leaders looking to be bold and follow through with IPO plans regardless of the current state of the short-term market, the process is as intricate and overwhelming as ever before.
Anees Pretorius, CEO and co-founder of the digital accounting platform Bean, believes that many CFOs are overwhelmed with accounting-related tasks on top of all their other duties and tribulations. Read Article
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Moody's Warns Of 'Rapid Deterioration' In Banking Environment, Evaluates Comerica, Western Alliance And More |
Benzinga - Chris Katje
Risk assessment firm Moody’s Corporation (NYSE: MCO) is downgrading the outlook on the U.S. banking sector following the collapse of several banks. The credit rating company is also out with calls on seven regional banks.
What Happened: On Monday, Moody’s Investors Services announced rating action on seven banking companies, including Signature Bank (NYSE: SBNY), one of the collapsed banks.
Moody’s downgrades Signature Bank with a standalone baseline credit assessment of C. The company said it will withdraw ratings on the bank after the downgrade due to “business reasons.” Read Article
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UBS buys Credit Suisse for $3.2 Billion as Regulators Look to Shore up the Global Banking System |
CNBC - Ashley Capoot, Katrina Bishop
KEY POINTS
- UBS agreed to buy its embattled rival Credit Suisse for 3 billion Swiss francs ($3.2 billion) Sunday.
- The terms of the deal will see Credit Suisse shareholders receive 1 UBS share for every 22.48 Credit Suisse shares they hold.
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The Swiss National Bank also pledged a loan of up to 100 billion Swiss francs ($108 billion) to support the takeover. Read Article
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JPMorgan Chase Thought it Had $1.3 Million Worth of Nickel Stored in a Warehouse. A Closer Examination Revealed Bags of Stones. |
Business Insider – Lakschmi Varansi
JPMorgan Chase kept bags of stones in a warehouse thinking they were nickel, according to the WSJ.
The London Metal Exchange revealed Friday that the bags contained stones instead of nickel.
The owner of the bags is JPMorgan Chase, according to the Journal.
The London Metal Exchange revealed a surprising mix-up last week at a warehouse in the Dutch port city of Rotterdam. Read Article
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U.S. Regulator Says That Binance Illegally Helped Americans Trade on Its Exchange |
Forbes - Steven Ehrlich, Director of Digital Asset Research
The CFTC says that Binance has been illegally helping American traders use its platform.
The Commodity Futures Trading Commission (CFTC) today issued a complaint against Binance, the largest crypto exchange in the world, alleging that the firm put profits over compliance and committed “numerous violations of the Commodity Exchange Act (CEA) and CFTC regulations.” Also mentioned were Changpeng Zhao, the Binance founder and CEO, and former Chief Compliance Officer Samuel Lim, who is cited widely throughout the complaint and allegedly orchestrated much of the malfeasance. Today’s filing is the latest in a series of questionable behaviors by the company. Read Article
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Banks Might Be About to Ruin the Economy Again |
Time Magazine – Alana Semmuels
Just about anyone whose job it is to pay attention to financial news should have known that interest rates would go up over the course of the last year.
A year ago, when the Federal Reserve raised interest rates for the first time in three years to combat inflation, it said that the banking industry should expect “ongoing increases,” and by September, the Fed projected that it wouldn’t stop heightening rates until they topped 4.5%—from near zero in early 2022. The Fed did what was largely predicted March 22, when it announced it would raise interest rates by 25 basis points, pushing them to the range of 4.75% to 5%.
The people running Silicon Valley Bank (SVB) did not understand that this was coming, since the bank stowed its deposits in U.S. government bonds. The value of older government bonds plummets as the Fed raises interest rates, because new bonds pay out more as interest rates grow. But SVB kept its deposits in government bonds, despite warnings from the Federal Reserve that it might not be able to come up with enough cash in a crisis. Read Article
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Stop Treating Unemployment as a Necessary Evil to Curb Inflation |
Vox – Rachel M. Cohen
An economist explains why it’s time to rethink popular assumptions about layoffs.
The Bureau of Labor Statistics’ new jobs report, released on Friday, was a surprise to nearly all economic analysts. The unemployment rate fell to 3.4 percent — its lowest level since 1969 — and 517,000 new jobs were added in January across a wide range of industries. That was more than double the 190,000 new jobs Wall Street analysts had predicted we’d see.
Given mounting fears that to combat inflation the Federal Reserve might push the country into a recession, experts described Friday’s report as definitely good news for the economy.
One outspoken voice was less surprised: Skanda Amarnath, the executive director of the upstart and influential advocacy group Employ America. For the past four years, Amarnath has been urging economic experts across the political spectrum to rethink their long-held assumptions that bucking inflation necessarily means raising unemployment. He has argued that the cure for inflation — higher unemployment — can be worse than the disease and that we should take the welfare benefits of keeping people in their jobs more seriously. Read Article
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Why are Young People Driving Less? Evidence Points to Economics, Not Preferences |
Brookings Institution - Christopher Severen, Nonresident Senior Fellow - Brookings Metro
Trends in driving behavior over the last 20 years have led to speculation about a less car-centric urban future.
Young adults are less likely to have access to a vehicle in their home and are less likely to have a driver’s license. At first glance, this might appear to be a win for the city planners and urbanists who have advocated for policies that reduce auto dependence.
However, research indicates that it is changes in the circumstances of young adults that explains most of these trends. Neither better urban policy nor generational change is likely responsible for these changes—at least not yet. Read Article
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Why Nepo Babies Are Bad For Business (Sorry, 'Succession') |
NPR Planet Money - Greg Rosalsky
The hit HBO show Succession is back for its final season. For us viewers, it means Sunday nights just got a lot more entertaining — and, I must say, given the plot of the show — disturbing.
If you haven’t seen the show, it centers on the Roys, a dysfunctional family of billionaires jockeying for the reins of their aging father’s multinational media and entertainment conglomerate, Waystar Royco. The Roys are a seriously messed up family. They’re ruthless and callous — and, despite their incompetence, they possess a Machiavellian penchant for double-crossing each other. Their family gatherings are awkward, to say the least.
At Planet Money, we view the world through the lens of economics. And so, for us, Succession isn’t merely a riveting dramedy. It offers an inside look at the bizarre dynamics of a family business that eschews meritocracy and scientific management in favor of nepotism and toxic family politicking. Read Article
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What Banks Do When No One's Watching |
NPR Planet Money - The Indicator, Wailin Wong, Darian Woods
The financial system is under stress, with several high-profile bank failures in the last several weeks. These failures are putting the spotlight on bank examiners: the people at government agencies who perform regular check-ups of the country's financial institutions.
Today, we look at the job of bank examiners to understand what they do and what can go wrong when there's not enough of them; which may be happening very soon according to a recent government report. Read Article and Hear 8 Minute Podcast
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Economic Media Reviews For Our Time |
Age of Easy Money
PBS Frontline
Around the country and across the world, the threat of a recession is looming and economic uncertainty is rising as markets, businesses and individuals adjust to a new reality: the Federal Reserve is raising interest rates and pulling back on its epic monetary experiment that started with the Great Financial Crisis.
From the award-winning team behind The Facebook Dilemma and Amazon Empire, the two-hour documentary Age of Easy Money investigates how the Fed’s experiment has changed the American economy and what it means that the era may be over. View Video
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Mexico, Latin America, South America and the Caribbean |
Texas Authorities Urge Travelers to Avoid Mexico
Axios – Sri Ravipati
Texas authorities issued a warning to residents Friday to avoid traveling to Mexico during spring break, and beyond, due to the ongoing violence throughout that country.
The big picture: The warning from the Texas Department of Public Safety (DPS) comes after four Americans were kidnapped last week and three other women went missing last month after crossing the border from Texas — stoking fear among authorities and travelers.
What they’re saying: “Drug cartel violence and other criminal activity represent a significant safety threat to anyone who crosses into Mexico right now,” DPS Director Steven McCraw said in a statement. Read Article
Mexico Takes Another Step Toward its Authoritarian Past
Brookings Institution - Valerie Wirtschafter,Senior Data Analyst - Artificial Intelligence and Emerging Technology Initiative; Arturo Sarukhan, Nonresident Senior Fellow - Foreign Policy, Strobe Talbott Center for Security, Strategy, and Technology, Latin America Initiative Former Ambassador of Mexico to the United States
As Mexico’s Senate celebrated the passage of a bill designed to curb the power of the National Electoral Institute (INE), the non-partisan and independent agency that oversees elections, the country took another step backward toward its decades-long authoritarian past. Despite corruption, violence, and inequality, Mexico has functioned as an electoral democracy for nearly three decades — with political competition and a vibrant civil society. Much of that success is due to the INE.
Under President Andrés Manuel López Obrador, a pugnacious and charismatic leader who swept to power in 2018, Mexico’s independent institutions are slowly losing their ability to serve as a counterweight to the executive. The latest attack on the INE may be López Obrador’s most brazen of all. Read Article
Caricom Skilled Worker Programme To Be Launched with Secondary School Teacher Attachments
CARICOM
The Caribbean Community (CARICOM) Secretariat launches a CARICOM Skilled Workers Programme on Monday, 6 March, 2023 at 10.30 am, with a short hybrid ceremony at its Headquarters in Georgetown Guyana.
The Skilled Workers Programme, which is supported by the European Union, is intended to provide opportunities for the learning of best practices in the administration of the regimes of the CARICOM Single Market and Economy. It is hoped there will be the development of practical skills through the work-related attachments to assist Member States to implement the CSME and decisions of the Organs and Bodies of the Community. The programme is also intended to create effective advocates for CARICOM integration through the exposure given to participants. Read Release
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Canada, Europe and Great Britain |
Lockheed, Northrop to Establish F-35 Assembly Line in Germany
Assembly Magazine
BERLIN—Following Germany’s decision to acquire 35 F-35 fighter jets to replace its aging Tornados, Lockheed Martin, Northrop Grumman and German defense contractor Rheinmetall have agreed to establish a second F-35 center fuselage integrated assembly line (IAL) in Germany.
The three companies signed a letter of intent to establish the assembly line, which will expand the significant role European industry plays in the F-35 program. Read Article
Paris Police, Protesters Clash for Third Night over Macron's Pension Reform
Reuters - Dominique Vidalon and Manuel Ausloos
PARIS, March 18 (Reuters) - Paris police clashed with demonstrators for a third night on Saturday as thousands of people marched throughout the country amid anger at the government pushing through a rise in the state pension age without a parliamentary vote.
The growing unrest and strikes have left President Emmanuel Macron facing the gravest challenge to his authority since the so-called "Gilets Jaunes" (Yellow Vests) protests four years ago. Read Article
Dutch Farmers' Party Wins Big in Provincial Elections
DeutscheWelle
The populist party has taken center stage in a sign of growing dissatisfaction with Prime Minister Mark Rutte's coalition.
A populist party founded only four years ago is set to emerge as the biggest party in Dutch provinicial elections for the upper house of parliament on Thursday, after riding a wave of protests by angry farmers.
The Boer-Burger Beweging (BBB), or Farmer-Citizen Movement, is projected to win 16 or 17 seats in the 75-seat upper house of the Dutch national parliament.
The party gained popularity as Dutch farmers' protests ramped up in recent years, also gaining some global support, including from former US President Donald Trump and other right-wing or populist figures. Read Article
Finland Tops List of World’s Happiest Countries
FortuneWell. – Chris Morris
Finland is the world's happiest country for the sixth year in a row.
Looking to live the happy life? Consider a move to Finland. The county has been named the world’s happiest country for the sixth year in a row in the annual World Happiness Report. The U.S. ranked 15th, one spot higher than it was in 2022 and notably higher than in 2019.
Globally, in fact, there was plenty of good news about world happiness. Acts of benevolence last year were about 25% more common than they were in the days before the pandemic. And despite the pain and suffering of the past few years, the organizers of the study said that people have remained as happy in 2020–2022 as they were in the pre-pandemic period of 2017–2019.
How was that possible? It’s the power of friendship, the report says. Read Article
The UK’s Landmark Effort to Stop Dirty Money Flowing Into Its Real Estate Sector May be Working
Brookings Institution - David Szakonyi, Assistant Professor of Political Science - George Washington University Research Fellow - Higher School of Economics and Florian M. Hollenbach,Associate Professor in Business & Politics - Copenhagen Business School
Leading up to the Russian invasion of Ukraine, the U.K.’s real estate sector had built up an unsavory reputation for being a great place to stash your illicit cash. Government risk assessments repeatedly flagged the sector as being a high risk for financial crime, in part due to improper implementation of due diligence checks by estate agents. Investigations by civil society organizations have revealed that a sizable chunk of high-value British real estate is owned by oligarchs, autocrats, and heads of government from around the world—typically through shell companies set up in tax havens with the explicit purpose of hiding their identity from the public. According to recent research, up to £19 billion may have flowed into U.K. property just to avoid new rules aimed at curbing cross-border tax evasion. Over time, the capital would go on to earn the nickname “Londongrad” thanks to the sheer number of Russian oligarchs that chose to move their money there, few questions asked. Read Article
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Cyclone 'Freddy' Batters Malawi and Mozambique
DeutscheWelle - Cai Nebe
Hundreds of people have been killed as tropical cyclone Freddy continues its trail of destruction.
Authorities fear more casualities could emerge in the coming days as residents in southern Malawi and Mozambique pick through the debris caused by tropical cyclone Freddy.
Close to 400 deaths have been reported in Mozambique, Malawi and Madagascar. Officials believe at least 88,000 have been heavily affected by the record-breaking storm. To shelter the displaced, 165 camps have been set up in Malawi. Read Article
China Eyes Closer Ties with Brazil
DeutscheWelle - William Yang in Taipei | Fabio Correa
In its relationship with China, Brazil wants to strike a balance between business and environmental protection, as the large Asian nation seeks more access to Brazilian agriculture.
Chinese leader Xi Jinping was to host hosting Brazil's president, Luiz Inacio Lula da Silva, in Beijing this weekend, seeking to deepen ties with another diplomatic ally following his three-day visit to Russia that took place earlier this week.
The visit was postponed on Saturday as the Brazilian leader was admitted to hospital with pneumonia.
Had it gone ahead, the state visit would have come at a time when China is trying to present itself as an important global power that can rival the US. Read Article
'Pandora's Box': EU Weighs Changing Relations with China
DeutscheWelle - Alexandra von Nahmen in Brussels
China's show of solidarity with Russia displeased officials in Brussels, where concerns are growing that Beijing is considering supplying arms to Moscow. But for now there is no real desire to decouple from China.
If Xi Jinping chooses to "befriend a war criminal, it is our duty to get very serious about China," Lithuania's foreign minister, Gabrielius Landsbergis, told DW when asked what he thought about the Chinese president's three-day visit to Moscow and his meeting with his Russian counterpart Vladimir Putin.
The International Criminal Court issued a warrant for Putin late last week, accusing him of war crimes.
The only way forward for the European Union now, Landsbergis said, is to take "first steps on de-risking and eventual decoupling from China. The sooner we start, the better for the union." Read Article
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Asia, India and Australia |
Hot Clouds Spew into Sky as Volcano Erupts in Indonesia
The Guardian
Indonesia’s Merapi volcano erupted, spewing hot clouds into the sky, on Saturday. The eruption of the volcano, located in Indonesia’s Yogyakarta region, generated a lava flow 1.5km long and a cloud of ash up to seven kilometres across.
Residents in the nearby community have been warned to halt any activities in the danger zones, which range between three to seven kilometres’ radius from the crater, an official statement said. See Video
India: Rahul Gandhi Defiant After Removal from Parliament
DeutscheWelle
The opposition leader was removed from parliament one day after a jail sentence over defaming Prime Minister Modi. Gandhi says he is being targeted for pushing to probe Modi's key business ally, but refuses to back down.
The leader of India's opposition, Rahul Gandhi, said on Saturday that his sentencing and disqualification from parliament were due to him poking at Prime Minister Narendra Modi's relationship with the embattled Adani conglomerate.
In a press conference at his Congress party headquarters in New Delhi on Saturday, Gandhi said he was removed from parliament to be silenced on his allegation regarding the infusion of an estimated $3 billion (€2.78 billion) into shell companies owned by the Adani group. Read Article
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Africa, Middle East, Eastern Europe and Russia |
Iran-Saudi Deal: China's Growing Clout in the Middle East
DeutscheWelle -William Yang in Taipei
The recent Saudi-Iran deal is a major triumph for Chinese diplomacy, but Beijing may find the Middle East to be a tricky region to operate in, say experts.
After China successfully brokered a deal last week to restore relations between Iran and Saudi Arabia, Beijing appears set to take on a larger role in the Middle East and potentially challenge US dominance in the oil-rich region.
Under the agreement reached in the Chinese capital on Friday, Riyadh and Tehran agreed to reopen their embassies and exchange ambassadors after seven years of severed diplomatic ties and tensions.
The rivalry between Iran and Saudi Arabia, respectively the leading Shiite and Sunni Muslim powers in the Middle East, has dominated regional politics in recent years, affecting not only the two nations but also others with both sides backing rival camps in proxy wars from Yemen to Syria and elsewhere. Read Article
Simpler Rules of Origin Needed to Boost Free Trade in Africa, Study Shows
Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) GmbH – UNCTAD
UNCTAD calls for reforms to existing rules to help the continent’s companies take advantage of African free trade agreements.
Complex and stringent rules of origin can prevent businesses from taking advantage of trade preferences, according to a new study by UNCTAD and the Common Market for Eastern and Southern Africa (COMESA) secretariat.
Rules of origin are the “passport” for goods, determining whether they can be exempted from taxes or taxed less under a preferential trade arrangement or free trade area (FTA).
They can be complex to comply with – especially for products made using materials from different countries through global value chains – and can make it difficult for products to qualify for trade preferences. Read Article
Netanyahu Sacks Defence Minister, Sparking Mass Protests
U.S. News & World Report – Reuters, Ari Rabinovitch
JERUSALEM (Reuters) -Israeli Prime Minister Benjamin Netanyahu on Sunday dismissed Defence Minister Yoav Gallant, triggering mass protests, a day after Gallant broke ranks with the government and urged a halt to a highly contested plan to overhaul the judicial system.
As news of the dismissal spread, tens of thousands of protesters, many waving blue and white Israeli flags, took to the streets in Tel Aviv and Jerusalem. Crowds gathered outside Netanyahu's residence in Jerusalem, at one point breaching a security cordon.
Some three months since taking office, Netanyahu's nationalist-religious coalition has been plunged into crisis over the bitter divisions exposed by its flagship judicial overhaul plans. Read Article
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Proactive Technologies' Project Partners |
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Frank J. Gibson Consulting |
"One thing is certain... nothing is certain!"
The rate of change affecting work, the worker, management and the educational institutions that service all three has been accelerating - made worse by the unexpected Covid-19 pandemic. The economy, the consumer, supply chains and operational strategies have all been disrupted in the short-term, casting doubt on the long-term.
Rapid adaptation is the key to survivability, sustainability and growth. Sometimes an experienced outside advisor can help facilitate needed improvements to take the worry out of change and the fear out of growth. Frank J. Gibson Management and Workforce Excellence Advisor
- Business Development & Growth
- Workforce Development and Optimization
- Training and Cross-Training
- Local,/Regional Workforce Development Projects and Community Development
- Facilitated Problem Solving
- Process Improvement Cross-Functional Leadership Coaching and Mentoring
- Internship and Apprenticeship Projects
- Strategic Doing/Strategic Planning
Copyright © 2023 Frank J. Gibson
ALL RIGHTS RESERVED
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PTI Systems
International, Inc.™
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- Affiliated with Proactive Technologies, Inc. for projects outside the United States;
- Workforce development partner for employers, and education/ training providers who support employers, to ensure every worker can be trained to full job mastery;
- Experienced with governmental, IDB, GIZ and economic development agency sponsored projects;
- Experienced in assuring multinational employers expanding to the U.S. have the skilled workforce they need.
- PTI Systems International sets-up complete worker development and performance management systems, and provides technical implementation support;
- We provide strategies for our project's transition to local management.
- Speakers for seminars and conferences.
Don't complain about a "skills gap," deliberately develop every worker to full job mastery!
© 2018-23 PTI Systems International, Inc.™
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“People need to know what their jobs are.”
American engineer, statistician,
professor, author, lecturer, and
management consultant
1900 - 1993
“If all you have is a hammer, everything looks like a nail”
American psychologist, created Maslow's hierarchy of needs; a psychology professor who stressed importance of focusing on positive qualities in people.
1908 - 1970
“The top 1 percent have the best houses, the best educations, the best doctors, and the best lifestyles, but there is one thing that money doesn't seem to have bought: an understanding that their fate is bound up with how the other 99 percent live. Throughout history, this is something that the top 1 percent eventually do learn. Too late.”
American New Keynesian economist, public policy analyst, professor at Columbia University., Nobel Prize recipient in Economic Sciences.
1943 –
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U.S. Department of Commerce - Bureau of Economic Analysis |
U.S. International Trade in Goods and Services, January 2023
The U.S. monthly international trade deficit increased in January 2023 according to the U.S. Bureau of Economic Analysis and the U.S. Census Bureau. The deficit increased from $67.2 billion in December (revised) to $68.3 billion in January, as imports increased more than exports. The goods deficit decreased $0.6 billion in January to $90.1 billion. The services surplus decreased $1.7 billion in January to $21.8 billion. Read Report
U.S. International Transactions, Fourth Quarter 2022
The U.S. current-account deficit narrowed by $12.2 billion, or 5.6 percent, to $206.8 billion in the fourth quarter of 2022, according to statistics released today by BEA. The revised third-quarter deficit was $219.0 billion. The fourth-quarter deficit was 3.2 percent of current-dollar gross domestic product, down from 3.4 percent in the third quarter. Read Report
New Foreign Direct Investment in the United States
The statistics on new foreign direct investment in the United States provide information on the acquisition, establishment, and expansion of U.S. business enterprises by foreign direct investors. Read Reports
BEA International Trade and Investment Country Facts
Global Value Chains Statistics Dashboard
BEA is developing data to provide a more complete and nuanced view of U.S. trade to analyze the evolving structure of international trade. The new data will help analyze global value chains – increasingly complicated supply chains that link many countries together to produce a good or service.: Access Dashboard
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U.S. Department of Commerce - Bureau of the Census |
Monthly Wholesale Trade
January 2023 sales of merchant wholesalers were $693.8 billion, up 1.0 percent (+/- 0.7 percent) from last month. End-of-month inventories were $929.0 billion, down 0.4 percent (+/- 0.4 percent)* from last month. January 2023: -0.4* % Change in Inventories; December 2022 ®: +0.1* % Change in Inventories. Read Report
Manufacturing and Trade Inventory and Sales
U.S. total business end-of-month inventories for January 2023 were $2,479.6 billion, down 0.1 percent (+/- 0.1 percent)* from last month. U.S. total business sales were $1,847.5 billion, up 1.5 percent (+/- 0.3 percent) from last month. January 2023: -0.1* % Change in Inventories; December 2022 (r): +0.3 % Change in Inventories. Read Report
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Organisation for Economic Co-operation and Development |
U.S. Data versus the World
Find, compare and share the latest OECD data: charts, maps, tables and related publications. Access Data
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International Trade in Services
Trade in services records the value of services exchanged between residents and non-residents of an economy, including services provided through foreign affiliates established abroad. This indicator is measured in million USD and percentage of GDP for exports, imports and net trade. Services include transport (both freight and passengers), travel, communications services (postal, telephone, satellite, etc.), construction services, insurance and financial services, computer and information services, royalties and license fees, other business services (merchanting, operational leasing, technical and professional services, etc.), cultural and recreational services, and government services not included in the list above. Trade in services drives the exchange of ideas, know-how and technology, although it is often restricted by barriers such as domestic regulations. All OECD countries compile their data according to the 2008 System of National Accounts (SNA). Access Data and Tables
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US Department of Labor Announces Final Rule to Modify How It Sets Adverse Effect Rates in the H-2A Program |
US Department of Labor
WASHINGTON – The U.S. Department of Labor today announced it will publish a final rule to amend how the Adverse Effect Wage Rates for the H-2A program are set to improve the rates’ consistency and accuracy based on the work actually performed by these workers and to better prevent H-2A workers’ employment negatively affecting the wages of U.S. workers in similar positions.
The H-2A program allows employers to address temporary labor needs by employing foreign agricultural workers when a lack of U.S. workers for the positions exists, and as long as hiring non-U.S. workers does not adversely affect the wages and working conditions of U.S. workers in similar jobs. The program’s Adverse Effect Wage Rates is the wage below which there would be an adverse effect on the wages of U.S. workers. Read Release
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US Worries China Will Use Supply Chains as Weapon |
IndustryWeek – Agence France-Presse
“The government of China is capable of leveraging its dominant positions in key global supply chains in an attempt to accomplish its goals,” said the Annual Threat Assessment report.
The United States worries that China will use its power in global supply chains as an additional weapon to advance its political and military might, a report released Wednesday showed.
The “Annual Threat Assessment” issued by the Director of National Intelligence said China is already using its supply chain dominance to force foreign companies and countries to transfer technologies and intellectual property to it. Read Article
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US Trade Deficit Widens Slightly in January |
IndustryWeek – Agence France-Presse
“Overall, trade flows have slowed on a shift in demand for services from goods and weaker global growth,” said Rubeela Farooqi, chief U.S. economist at High Frequency Economics.
The U.S. trade deficit widened in January on a pickup in imports, to mark the biggest gap in three months, according to government data released on Wednesday.
The overall trade gap grew $1.1 billion from December to $68.3 billion in January, according to Commerce Department data, amid a rise in consumer goods imports along with that of autos and parts.
The deficit widened slightly less than anticipated, and the latest figures come as households shift more spending to services instead of goods while consumers grapple with stubborn inflation. Read Article
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CPA Annual Global Imbalances Report: U.S. Remains the Leading Deficit Country Absorbing the Surpluses of China, Japan and Germany |
Coalition for a Prosperous America – Andrew Heritage
Key Points
- Global current account imbalances (consisting mostly of trade) increased in 2021, the most recent data available. As a percentage of world GDP, total imbalances reached 3.6%, equivalent to $3.3 trillion. Imbalances have worsened during the pandemic and the post-pandemic period, driven by rising goods trade flows, mainly from Asia to North America.
- Persistent imbalances show the global trading system is not working. Several nations run large, persistent surpluses, which are beggar-thy-neighbor policies designed to build up their productive bases. The persistent deficit countries lose out on productive power and good jobs.
- China, Germany and Japan were the three top surplus countries which overproduce, under-consume and rely upon foreign consumers for growth.
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The leading deficit country is the U.S., followed by the UK as a distant second, absorbing the excess production of the surplus countries. Persistent deficits hold back the growth of the U.S. economy, cause deindustrialization and supply chain dependence, as well as the loss of middle-class jobs. Read Article
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Reshoring & Reuse: How Circular Manufacturing Can Drive Value for Business and Surrounding Communities |
Supply Chain Brain - Garr Punnett, SCB Contributor
Starting nearly 60 years ago, off-shoring previously domestic manufacturing proved to be a go-to executive decision to boost corporate value by reducing labor costs and the cost of goods sold. Pioneered by U.S. economic juggernauts such as General Electric, off-shoring was attractive because increased efficiencies, relaxed regulations, and product margin outweighed increased transportation rates, supply chain hiccups, or headline-grabbing lack of labor rights.
Over the past decade, this trend has shifted, with more companies seeking on-shoring, in-shoring, back-shoring, near-shoring, or even re-shoring solutions. All of these “shoring” options vary slightly by geographic differences. Still, they are all a concerted effort to bring manufacturing of goods back to or close to a manufacturer's country of operation. Turns out, the practice of off-shoring might simply be arbitrage at the scale of national economic development. Once a developing economy begins to reach a point of maturity, advantages on wages, policies, material costs and environmental regulations erode to the point where off-shoring manufacturing there offers minimal benefits. Read Article
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What Cold War? U.S. Trade with China Hits New High |
Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) GmbH – Politico, Doug Palmer
Two-way trade between the United States and China set a new record in 2022.
U.S.-China relations have reached a low point after a Chinese spy balloon was discovered — and shot down — over U.S. territory last week, but trade between the world’s two leading economies just hit an all-time high.
According to numbers released Tuesday by the Commerce Department, two-way trade between the United States and China set a new record in 2022 — $690 billion — part of a surge in U.S. trade with partners around the world last year.
The U.S. had record imports from 90 countries in 2022, led by Mexico, Canada and Japan. Read Article
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EU Races to Lead Green Tech Battle Against US, China |
IndustryWeek - Agence France-Presse
Green technology production took on greater urgency after the United States unveiled a $370 billion "buy American" subsidy program for tax credits and clean energy subsidies.
The EU on Thursday announced plans to push the bloc's businesses to produce more clean technology in Europe to challenge state-backed competition from the United States and China.
Brussels told European industries producing green technologies, such as solar and wind energy, that obtaining permits and manufacturing will be made easier under plans accused by some as protectionism.
The European Commission, the EU's executive arm, wants at least 40% of green tech to be produced in the EU by 2030. Read Article
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Pay Transparency Brings in Stronger Job Applicants |
EHS Today - Staff
A new survey showed that 70% of organizations saw more candidates and 66% received more qualified candidates.
There has been much discussion about pay transparency recently especially given the fact that several states and localities are implementing new laws in this area.
Earlier this week, The Society for Human Resource Management (SHRM) released new research detailing how organizations are approaching pay transparency.
Some employers have raised concerns that listing pay ranges may lead to negative outcomes such as candidates not taking the total compensation into consideration, but SHRM research shows most organizations that list salary ranges lead to favorable outcomes. Read Article
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Import Processing and Trade Costs |
InterAmerican Development Bank
We estimate import processing costs based on the time it takes to import. Our theory extends existing time-cost measures to account for uncertainty in import processing. We use detailed, highly disaggregated data on import processing dates and import values to provide evidence for our theory and estimate processing costs consistent with the theory. The evidence shows that our extensions to time-cost estimates are economically relevant to determine processing costs. We estimate that the tariff equivalent import processing costs is as high as 18 percent. WTO estimates suggest that the full implementation of the 2013 Trade Facilitation Agreement would reduce the time to trade by 1.5 days. In that case, processing costs would decrease to 13 percent. Download Report
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Volkswagen Group Plans St. Thomas, Ontario, Canada, North American Gigafactory |
Area Development - News Desk
The Volkswagen Group and its battery company PowerCo will establish Volkswagen’s first overseas gigafactory for cell manufacturing in St. Thomas, Ontario, Canada. The project is expected to create more than 2,000 jobs.
The facility, scheduled for production in 2027, will produce sustainable unified cells, and is part of a larger plan that Volkswagen and PowerCo agreed upon with Canadian Prime Minister Justin Trudeau's government in August last year, according to company officials. Read Article
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What's Ahead for Aluminum Prices with US Tariffs on Russia? |
IndustryWeek - Vivek Aggarwal
Buyers and sellers have been anxious.
One of the biggest uncertainties in the global aluminum market heading into 2023 was whether the United States and its allies would levy economic sanctions against Russia aluminum over the ongoing war in Ukraine.
The Russian aluminum industry is a key part of its defense industrial base, and the nation also is one of the world’s largest producers of the metal. The U.S. and its allies imposed several economic measures against Russia after it invaded Ukraine a year ago but did not target aluminum.
It’s important to remember what happened in 2018 when the U.S. sanctioned United Co. Rusal, a major Russian aluminum producer, in response to Russian aggressions, including meddling in U.S. elections. The punishment, which froze the bulk of the company’s exports, jolted the aluminum market and sent aluminum prices soaring. Read Article
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Education And Workforce Development News |
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Chamber of Commerce Lands Grant to Bolster Work-based Learning, Skill Credentialing |
HR Dive - Carolyn Crist
The program, slated to start this fall, is designed to prepare learners and workers for career advancement, as well as address the worker shortage.
The U.S. Chamber of Commerce Foundation received a $1.5 million grant to create more training opportunities for high school students, postsecondary learners and incumbent workers, according to a March 6 announcement.
The grant will fund a pilot launch of the Employer Provided Innovation Challenges (EPIC) initiative, an online platform that aims to bring users together to create solutions for real-world, employer-led workplace learning challenges. The program, slated to start in fall 2023, is designed to prepare learners and workers for career advancement, as well as address the worker shortage. Read Article
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CCRI to Privatize Campus Bookstores |
Community College Daily News – Providence Business News, Christopher Allen
THE COMMUNITY COLLEGE of Rhode Island, citing declining revenues, is accepting proposals to assume operations at the institution’s four bookstores at the Warwick, Lincoln, Newport and Providence campuses.
A search is underway by the Community College of Rhode Island for a private vendor to take over operations at the institution’s four bookstores at the Warwick, Lincoln, Newport and Providence campuses.
The state Division of Purchases issued a request for proposals on Feb. 20. The bid process closes on March 27 and assumes a five-year contract beginning on July 1 with renewals “based on vendor performance and the availability of funds.” Read Article
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Higher Education Accountability: Measuring Costs, Benefits, and Financial Value |
Brookings Institution - Katharine Meyer, Fellow - Governance Studies, Brown Center on Education Policy
Higher education has long been a vehicle for economic mobility and the primary center for workforce skill development. But alongside the recognition of the many individual and societal benefits from postsecondary education has been a growing focus on the individual and societal costs of financing higher education. In light of national conversations about growing student loan debt and repayment, there have been growing calls for improved higher education accountability and interrogating the value of different higher education programs.
The U.S. Department of Education recently requested feedback on a policy proposal to create a list of “low-financial-value” higher education programs. The Department hopes the list will highlight programs that do not provide substantial financial benefits to students relative to the costs incurred, in hopes of (1) steering students away from those programs and (2) applying pressure on institutions on the list to improve the value of those programs—either on the cost or the benefit side. Read Article
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Decline in Degree Earners |
Community College Daily News – Mathew Dembicki
College graduates earning an undergraduate credential fell last year for the first time in a decade, led by a significant drop in first-time graduates — especially among those attaining associate degrees, according to a new report from the National Student Clearinghouse Research Center. But there was an increase in the overall percentage of students earning certificates.
Although students of all ages saw a decrease in degree attainment among first-time grads in the 2021-22 academic year, those 25 years and older experienced the steepest declines, the report shows.
“The pandemic’s impact on higher education has gone beyond the declining numbers of current students and is now showing up as a drop in the annual number of new graduates as well, taking it all the way back to the level of 2016-17,” Doug Shapiro, executive director of the National Student Clearinghouse Research Center, said in a release. Read Article
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Can We Really Predict the Future of Instructional Technology? |
Community College Daily News – Martin Hoffman
As the Instructional Technology Council (ITC) continues our series of articles focusing on the anticipated impact of distance learning over the next 10 years, it’s reasonable for readers to be at least somewhat skeptical. So, I decided to do a little experiment with a sample of convenience and a sample of 1.
About 13 years ago, my college president’s assistant told me that “the president wanted me to” predict the top five technological innovations that will impact higher education within the next few years. My first reaction was annoyance. Read Article
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Now is Not the Time to Turn Our Backs on Early Alent |
HR Dive - Kimo Kippen
Kimo Kippen, former chief learning officer for Hilton, explains five reasons why employers need to continue to invest in college-age workers.
Rumors of a second round of layoffs at Meta are spreading as the 2023 tech layoffs continue, following Zoom’s announcement in early February and layoff announcements by Google (12,000 jobs) and Microsoft (10,000 jobs) in January.
That might seem like welcome news to companies that have been struggling with a seemingly endemic talent shortage as we teeter toward the first full employment recession. After all, competing against the nation’s largest employers hasn’t been easy, and an influx of experienced talent could be a boon to companies grappling with skills gaps. Right? Read Article
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Training And Organizational Development News |
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How to Create a Happy Company |
EHS Today - Adrienne Selko
A study from Robert Half offers six practices that will make employees happy, and productive.
As a proud owner of an oversized pair of rose-covered glasses, I feel the need to point out that many workplaces are great places full of happy employees.
What makes these employees happy?
A study from Robert Half International highlights, and explains, six factors that influence employee happiness. (The report is quite robust and I would recommend reading it, as this is just an excerpt.)
Right Fit for the Job and Company
A good fit entails both skills and temperament. Painting an accurate picture of the role and the organizational culture when hiring is a safeguard that can help you avoid skill alignment issues. When you set expectations by clearly communicating to prospective candidates what an open position entails, you greatly reduce the risk that they end up feeling surprised, unchallenged or disappointed once on the job. Read Article
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Is ‘Bossism’ Getting in the Way of Your Leadership? |
IndustryWeek - Chris Morgan
Command-and-control is a hard habit to break, even when it has poor outcomes.
Most leaders still believe that the way to maximize productivity is to set demanding goals and enforce compliance.
The universal challenge for managers, indeed for whole organizations, is how to maximize results with the resources they have. Too often, this brings out an old-school, bossy persona from people leaders. In the short run, employees do what they are told, but over time motivation, innovation and a sense of agency decrease. These leaders end up with less-capable teams who are too dependent on them and trap them in the weeds. It also becomes harder for leadership to attract and hang on to the good talent in our highly fluid and competitive labor market where company culture is so transparent on social media. Read Article
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There’s Safety in Young Numbers |
IndustryWeek - Adrienne Selko
Young workers want to stay. Employers need to give them reasons to do so.
Each generation brings something different to the workplace. Gen Z is no exception. This group, born between 1997-2012, are 68.6 million strong and comprise 20% of the U.S. population. Two of their strongest characteristics are thoughtfulness and determination. And this is true even in the early stages of their career. That’s good news for safety managers (a group predominantly made up of Baby Boomers and Gen Xers) tasked with training and engaging a workforce from succeeding generations (Millennials and Gen Zers).
When Gen Z workers were asked by Tallo (a recruiting platform for young workers) how long they would like to stay in their first job, the answer was three years. While that might not seem long to older generations who stayed in jobs many years, this is a considerable period.
Tallo’s Early Talent Playbook specifically asked these workers what would keep them at their jobs. At the top of the list (70%) was personal development. They want a work environment that prioritizes learning, which would include company assistance for additional education. They want mentors and internal promotions. Read Article
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Is the Best Award No Award? |
IndustryWeek - Rick Bohan, Brandon Davis, Ron Jacques
Recognition can motivate, or it can create resentment and undermine teamwork.
Rick asks his students if they would be in favor of implementing a “Golden Broom” award at an imaginary manufacturing plant that would be given to the department that was the cleanest and most orderly. The large majority of them respond that, yes, they would implement such a program, arguing that it would establish a friendly competition among the departments, which would lead, in turn, to a cleaner, more orderly plant.
Rick disagrees with his students. He tells the students several stories from his own experience of award programs that went badly awry. n one case, the managers at a coal mine Rick served told the miners that anyone who had perfect attendance for a year would receive a leather jacket imprinted with the company logo. The only workdays that one miner missed were contractually allowed bereavement days he took when his mother died. He didn’t receive a jacket. All of his co-workers returned their jackets to the mine’s superintendent. Most of the jackets had messages for the superintendent pinned to them. Those messages comprised just two words. Read Article
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The Secret to Happier Employees |
IndustryWeek - Ashleigh Walters
Trust gets better results than control. Control is costly to enforce not only monetarily, but it rents valuable headspace.
Manufacturing companies want to know how they can recruit, hire and retain more employees. The secret is not what you may expect.
You have heard the phrase “Money doesn’t buy happiness.” It is true. As an employer, you can pay more than your competitor but that does not guarantee you will be able to hire and retain the talent you are seeking.
So, what is the secret? This week I had the privilege to be with plant leaders in two separate settings. An international tire manufacturer invited me to their plant managers’ strategy session. And, The University of Tennessee’s Center for Reliability and Maintainability hosted their annual MARCON conference. In both cases, the discussions between plant leaders were quite engaging, as everyone is trying get to the root cause of the problem.
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As Tech Layoffs Lead to Strained Teams, Leaders Lean on L&D |
HR Dive - Caroline Colvin, Reporter
Amid more Amazon tech layoff news, researchers published a report on strained managers struggling to regain control.
Although most managers in tech are facing requests from leadership to trim costs, 72% of team leaders plan to reinvest in upskilling, data from Pluralsight suggests. Why increase spending in this area? Almost 100% of survey-takers told researchers they’re centering existing talent over recruiting new talent, per a March 20 report.
Gary Eimerman, the research company’s chief product officer, underscored tech leaders’ shift to “maximizing employee potential.”
“Organizations and individuals alike are being asked to do more with less in the face of reduced workforces and larger economic pressures,” Eimerman said in a press release. For longevity, companies will need to emphasize “continuous upskilling” to “sharpen their competitive edge,” Eimermand added. Read Article
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Workers Say They’re Hopeful About the Future of Their Careers — But Not with Their Current Employers |
HR Dive - Carolyn Crist
Upskilling could be the key to retention in today’s “free agent” market, a Tuesday report said.
Despite burnout and workplace challenges, 80% of U.S. workers surveyed said they feel hopeful about the future of their careers — but not with their current employer, according to a March 21 report from the University of Phoenix Career Institute.
Workers’ optimism is based on their own abilities and confidence about available positions, leading to a “free agent” labor market, the report found. At the same time, many of the 5,000 workers surveyed said they’d stick around if their company offered more upskilling or reskilling opportunities. Read Article or Hear 3 Minute Podcast
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Access Proactive Technologies' Recent "Proactive Technologies Workforce News" Article Quicklinks |
Located on the left panel below, this includes articles on structured worker development, achieving worker "full job mastery," engineering/quality/safety compliance, ISO/TS/AS quality program support and compliance, and many other contemporary worker development and management topics. |
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Recent Proactive Technologies News Article Quicklinks |
March
by Dean Prigelmeier, President of Proactive Technologies, Inc.
by Stacey Lett, Director of Operations – Eastern U.S. – Proactive Technologies, Inc.
by Stacey Lett, Director of Operations – Eastern U.S. – Proactive Technologies, Inc.
by Dean Prigelmeier, President of Proactive Technologies, Inc.
February
by Dean Prigelmeier, President of Proactive Technologies, Inc.
by Stacey Lett, Director of Operations – Eastern U.S. – Proactive Technologies, Inc.
by Frank Gibson, Workforce Development Advisor, retired from The Ohio State University – Alber Enterprise Center
by Dean Prigelmeier, President of Proactive Technologies, Inc.
January
by Dean Prigelmeier, President of Proactive Technologies, Inc.
by Stacey Lett, Director of Operations - Eastern U.S. - Proactive Technologies, Inc.
by Stacey Lett, Director of Operations - Eastern U.S. - Proactive Technologies, Inc.
by Dean Prigelmeier, President of Proactive Technologies, Inc.
December
by Dean Prigelmeier, President of Proactive Technologies, Inc.
by Stacey Lett, Director of Operations - Eastern U.S. - Proactive Technologies, Inc.
by Dr. Dave Just, formally Dean of Corporate and Continuing Education at Community Colleges in MA, OH, PA, SC. Currently President of K&D Consulting
by Dean Prigelmeier, President of Proactive Technologies, Inc.
November
by Dean Prigelmeier, President of Proactive Technologies, Inc.
by Stacey Lett, Director of Operations - Eastern U.S. - Proactive Technologies, Inc.
by Frank Gibson, Workforce Development Advisor, retired from The Ohio State University – Alber Enterprise Center
by Dean Prigelmeier, President of Proactive Technologies, Inc.
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Proactive Technologies, Inc. Partners With Educational Institutions, Workforce/Economic
Development Groups, Government Agencies
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Structured on-the-job training attracts and engages employers in workforce development partnerships...some projects sustainable for more than 18 years!
This creates a steady need for your related technical instruction, services and a pathway for employment.
These partnerships:
- enhance your institution's opportunity to market your products and services to incumbent workers;
- allow your organization to include structured on-the-job training as a capstone to preemployment preparation;
- document a trainee-to worker's increasing value to the employer - the key to retention - rather than leaving it to chance;
- properly aligns workforce development resources and maximizes the impact and results; allows you to engage an employer's facility, equipment and staff in the training process;
- provides the best, sustainable infrastructure for apprenticeships and internships that last!
- is a win for the trainee, win for the worker, win for the employer, win for the institution and win for the community!
This approach has continued to prove itself since 1988, and does not compete with your school's or agency's products and services; it adds to your efforts the clear, tangible, measurable advantage that employers seek.
Copyright © 2015 - 2023 Proactive Technologies, Inc.™ ALL RIGHTS RESERVED
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Tri-Rivers Career Center - Adult Education provides lifelong, continuous learning for a diverse adult population. We utilize practical skills with an eye toward technological advancement.
We partner with state agencies and employers to provide targeted skill development to future and incumbent workers.
Our RAMTEC (Robotic and Advanced Manufacturing Technology Education Collaborative) facility - one of many throughout the state - offers advanced technical training in specialized areas such as robotics, robotic welding, and engineering technology.
Copyright © 2022 Tri-Rivers Career Center - Adult Education - RAMTEC ALL RIGHTS RESERVED
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PROACTIVE TECHNOLOGIES, INC. CLIENT SERVICES |
To supplement onsite PROTECH™ system of managed human resource development classes, these regularly scheduled webinars are available to the registered staff of clients:
- Structured On-The-Job Training Instructor Certification
- Structured On-The Job Training Checklist Administrator Certification
- Management Structured On-The-Job Training Project Support Briefing
- Integrating Support for Plant-Wide ISO/AS/IATF Quality and Safety Systems with PROTECH Workforce Development System
- Supporting "Pay-For-Value" Systems
- Promoting Continuous Process Improvement While Implementing the PROTECH System for the Accelerated Transfer of Expertise™
- PROTECH Onsite Lead Trainer and System Administrator Certification
Contact US t o attend one of these seminars and we will send you an e-reservation. Include your client ID, name and user ID number and which webinar you would like to attend.
Copyright © 2019-23 Proactive Technologies, Inc.™ ALL RIGHTS RESERVED
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Selecting The Right Solution for Shaft Inspection |
Quality Magazine
Shaft production has historically been, and still is, one of the most common processes in machine tool shops.
Shafts are an elementary component of a majority of mechanical systems we use in our everyday lives and as the requirements of higher quality and precision of those shafts have become more restrictive, so have the requirements for inspection of the shaft’s features. Not so long ago, shafts were most often inspected using a variety of hand gages such as profile templates, calipers, micrometers or snap gages. Today, specialized shaft measurement systems better suited for modern shaft production processes are available.
In order to determine which type of gage is best for shaft inspection, various aspects of shaft production and features need to be considered, including: Read Article
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US Opens Inquiry on Tesla Steering Wheel Detachments |
IndustryWeek - Agence France-Presse
The preliminary inquiry comes on the heels of the company recall of over 3,000 Model Y vehicles due to issues with bolts in the seat back frames.
U.S. auto safety officials have opened a preliminary inquiry on Tesla after the steering wheel on its cars completely detached in two newly delivered vehicles, according to a document reviewed Wednesday by AFP.
The National Highway Traffic Safety Administration on March 4 opened a "preliminary evaluation" following two instances of "complete detachment" of the steering wheel while driving in 2023 Tesla Model Y vehicles, according to an agency posting.
An inquiry into Elon Musk's electric auto company "has been opened to assess the scope, frequency and manufacturing processes associated with this condition," the posting said. Read Article
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Exploring Integrated Optical Inspection Systems |
Quality Magazine - Esa Kalistaja
Coordinate measurement machine (CMM)-based systems are often used for offline and at-line quality inspection. However, CMMs rely on robot arm movement and touch-probe data acquisition, which makes them slow and expensive systems.
As an alternative to CMMs, production engineers have the option of deploying versatile, noncontact optical inspection systems that allow for the implementation of first-article or random part inspection in a fast, nondestructive way and at roughly half the price of a CMM-type or other NIST-certified metrology system. Read Article
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Hyundai, Kia Recall 570,000 Vehicles, Advise Owners to Park Outside Because of fire Risk |
USA Today - Orlando Mayorquin
Hyundai and Kia advised owners of 571,467 SUVs and vans to park outside and away form structures because the vehicles could pose a fire risk, according to recall reports submitted to the U.S. National Highway Safety Administration.
The Korean car makers said the recalled vehicles could be equipped with a faulty tow hitch assembly that can take on water and experience an electrical short. This can increase the risk of fire, according to the NHTSA reports. Read Article
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Study Finds Link Between ‘Free Sugar’ Intake and Cardiovascular Disease |
CNN – Kristen Rogers
Eating a lot of free sugars — also known as added sugars — might feel harmless in the moment, but it could increase your risk for getting cardiovascular disease, a new study has found.
Free sugars are those added during the processing of foods; packaged as table sugar and other sweeteners; and naturally occurring in syrups, honey, fruit juice, vegetable juice, purees, pastes and similar products in which the cellular structure of the food has been broken down, according to the United States Food and Drug Administration. They don’t include sugars naturally occurring in dairy or structurally whole fruits and vegetables. Read Article
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Why We Usually Can't Tell When a Review is Fake |
NPR Planet Money - Paddy Hirsch
Human beings have always loved reviews: word of mouth has long been regarded as one of the most valuable marketing tools available to a company. But the internet has made us all review mad. We love giving reviews, and we have grown to depend on them, too.
Researchers have found that more than 99 percent of consumers read reviews online before they shop, and nearly three quarters of consumers say they’ve left an online review for a local business in the past year. Not only do we read a lot of reviews before we purchase anything these days, we also believe them: 49 percent of consumers say they trust reviews as much as they do personal recommendations from friends and family members. And younger people are particularly fond of reviews: 91 percent of 18 to 34-year-olds say they trust online reviews every bit as much as they do personal recommendations. Read Article
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Burning Eyes, Dead Fish; Red Tide Flares up on Florida Coast |
Scripps News - AP Douglas R. Clifford/Tampa Bay Times
The Florida Fish and Wildlife Conservation Commission warns people to not swim in or around red tide waters.
Residents are complaining about burning eyes and breathing problems. Dead fish have washed up on beaches. A beachside festival has been canceled, even though it wasn't scheduled for another month.
Florida's southwest coast experienced a flare-up of the toxic red tide algae this week, setting off concerns that it could continue to stick around for a while. The current bloom started in October. Read Article
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Push for Carbon-Free Hydrogen Accelerates in US |
IndustryWeek - Agence France-Presse
Several new projects around U.S. hydrogen have already been announced, but many more are anticipated once detailed IRA rules are finalized, expected during the second half of 2023.
A source of renewable and storable energy, hydrogen is experiencing a breakthrough in the United States after years of sluggish growth as Biden administration climate policies spark major investments.
"America came from nowhere and now they're in the lead," Mark Hutchinson, CEO of Fortescue Future Industries, said of America's ascent in renewable energy in general and hydrogen more specifically, at last week's CERAWeek energy conference in Houston, Texas.
U.S. hydrogen production already amounts to around ten million tons per year, about 10% of world volumes. But that output mostly consists of so-called "grey" hydrogen, which is produced from natural gas without capturing carbon dioxide emissions. Read Article
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Groundbreaking Study Shows Suburban Tenants are Facing More Evictions Across the US |
USA Today - Claire Thornton, Carlie Procell
The number of families evicted from their homes in suburbs across the country has been on the rise for years, according to a report from Princeton University's Eviction Lab.
Researchers compiled eviction judgment records from 74 U.S. metropolitan areas and found that as the number of evictions in city centers held steady from 2000 to 2016, the share of evictions in suburban areas increased in 58 of the metropolitan areas.
The Cleveland-Elyria, Ohio, metropolitan area experienced the largest increase in suburban evictions. In 2000, suburban evictions made up 43% of the area's total evictions, and increased by 2016 to 55%. Read Article
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Deadly Drug-resistant Fungus Has Spread Across the U.S. Here’s What You Need to Know About Candida Auris |
FortuneWell. – Chloe Taylor
Candida auris is highly resistant to antifungal drugs. Thousands of cases were reported in the U.S. last year.
A fungal infection that’s highly resistant to drugs is sweeping across the U.S.—and scientists are warning that doctors are “poorly equipped” to handle a major outbreak.
The fungus was detected in more than half of all U.S. states last year.
In a research paper published on Tuesday, fungal disease experts from the U.S. Centers for Disease Control and Prevention (CDC) shared their findings on how the fungus Candida auris had spread in American healthcare facilities between 2019 and 2021. Read Article
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Sun Spews 'Dark Plasma' into Space From its Far Side |
Space.com - Samantha Mathewson
The resulting storm disrupted radio signals near the Earth's poles.
NASA's Solar Dynamics Observatory recorded the 'dark plasma' prominence hurling itself into space. (Image credit: NASA's Solar Dynamics Observatory)
An explosion on the sun spewed 'dark plasma' into space that resulted in a moderate G2-class geomagnetic storm on Wednesday (March 15).
The eruption was detected on March 11 by coronagraphs at NASA's Solar Dynamics Observatory (SDO) and on the Solar and Heliospheric Observatory satellite (SOHO), an Earth-orbiting spacecraft co-operated by NASA and the European Space Agency. SOHO spotted a somewhat dark stream of plasma, known as a coronal mass ejection (CME), that emerged from the southwestern limb of the sun, according to Spaceweather.com(opens in new tab). Read Article
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Cyber Security And IT News |
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Is Your iPhone Taking Longer to Charge Than Usual? Here’s How to Fix It (If You Want To) |
91Mobiles- Vivek Chauhan
If you also face slow charging issues on your iPhone, you need to read this.
HIGHLIGHTS
- Some iPhone users complain of slow charging issues because of a new feature.
- The new feature was introduced with iOS 16.1 update.
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Users can also turn off the new function through the settings. Read Article
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LastPass Compromise Grew Worse After DevOps Engineer Targeted for Encryption Key |
Cybersecurity Dive - Matt Kapko, Reporter
A threat actor used data from multiple breaches and a vulnerability on a high-level employee’s home computer to steal customer passwords.
LastPass disclosed a series of incidents tied to its 2022 breach that allowed a threat actor to access and steal highly sensitive customer account data from its Amazon Web Services storage servers during a coordinated and monthslong campaign.
Its investigation revealed a series of activities a threat actor engaged in from August to October, including reconnaissance, enumeration and exfiltration activities, the password manager said Monday in an advisory on its support site. Read Article
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The US Cyber Strategy is Out. Now, Officials Just have to Implement It |
Cybersecurity Dive - David Jones, Reporter
Industry stakeholders signal a willingness to discuss further steps, while congressional leaders hint additional action may be on the table.
Kemba Walden, acting national cyber director, rolls out the National Cybersecurity Strategy at a forum by the Center for Strategic and International Studies on Thursday, March 2, 2023. Permission granted by Office of the National Cyber Director
The Biden administration plans to forge ahead with the hard work of implementing the ambitious goals of the national cyber strategy, which aims to shift much of the responsibility for developing a more resilient national infrastructure onto the technology industry.
Administration officials will need to work with stakeholders across private industry, Congress and the academic world to find the most effective and efficient means to reorganize the cyber ecosystem. The end goal is for software developers, computer manufacturers and cloud services providers to work together to create a new supply chain that develops safer and more resilient products. Read Article
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LastPass Breach Timeline: How a Monthslong Cyberattack Unraveled |
Cybersecurity Dive - Matt Kapko, Reporter
A threat actor evaded detection for months and blended in with legitimate activity after targeting 1 of 4 engineers with access to keys to the kingdom.
Editor’s note: This story has been updated with additional timeline details and comments from LastPass.
The hits keep coming for LastPass and its customers.
A breach in August, which the company said was contained weeks later, continued to unravel and confound investigators for months.
The threat actor gained more access following the initial compromise and evaded detection by blending in with legitimate activity, LastPass concluded in recent updates. Read Article
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MKS Instruments Says February Ransomware Attack Will Clip $200M From Revenue |
Cybersecurity Dive - David Jones, Reporter
Ransomware virus has encrypted data. Attacker is offering key to unlock encrypted data for money.
Dive Brief:
- MKS Instruments is expecting a 20% hit to quarterly revenue following a ransomware attack that disrupted its supply chain operations in February.
- The Feb. 3 ransomware attack materially impacted the company’s business systems, disrupting its ability to supply technology for semiconductor manufacturing and advanced electronics, President and CEO John Lee said Tuesday during the company’s quarterly earnings call. The incident also impacted the operation of its photonics and vacuum solutions divisions affecting its ability to process orders, ship products and provide customer service.
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The attack will result in at least a $200 million hit to company revenue during the first quarter, the company said. Prior to the incident, MKS Instruments expected to report about $1 billion in revenue. Read Article
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Here’s How to Catch Anyone Spying on Your Text Messages |
USA Today - Kim Komando
Just about every connected device you have can be used to spy on you, and this isn’t limited to smart speakers and webcams.
It gets worse. I was in the pool recently, and a drone flew overhead. More than a million registered hobby drones are buzzing around the country, and countless unregistered ones too.
What about your text messages? Our texts aren't always private, unfortunately. There are sly ways others can intercept your messages. Here’s how to know if someone is snooping: Read Article
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Who is Liable for Flawed Software? New Guidance Upends the Security Standard |
Cybersecurity Dive – David Jones, Reporter
Development practices and safe harbor provisions are the subject of major debate as work to implement the White Houses’ cyber strategy begins.
Following the release of the Biden administration’s national cyber strategy, the most consequential issue for the private sector will be navigating the plan to hold companies liable for the security of their products.
The strategy calls for the administration to work with Congress and the private sector to develop legislation that will establish liability for software products and services. Read Article
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Hacking Healthcare: With 385M Patient Records Exposed, Cybersecurity Experts Sound Alarm on Breach Surge |
Cybersecurity Dive - By Samantha Liss and Jasmine Ye Han
Cybersecurity experts say healthcare companies must harden their defenses, but it may require regulators and lawmakers to raise the bar on security standards.
Healthcare companies more than ever are using electronic records and tapping digital services. That’s also creating more opportunities for cybercriminals — who already have exposed the private medical information of millions of patients — and bolsters the case for the industry to make security priority No. 1, experts say.
Healthcare breaches have exposed 385 million patient records from 2010 to 2022, federal records show, though individual patient records could be counted multiple times. Read Article
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Hundreds of Sexual Deepfake Ads Using Emma Watson’s Face Ran on Facebook and Instagram in the Last Two Days |
NBC News - Kat Tenbarge
A deepfake app advertised itself on Meta platforms using faces of actors Watson and Scarlett Johansson.
In a Facebook ad, a woman with a face identical to actor Emma Watson’s face smiles coyly and bends down in front of the camera, appearing to initiate a sexual act. But the woman isn’t Watson, the “Harry Potter” star. The ad was part of a massive campaign this week for a deepfake app, which allows users to swap any face into any video of their choosing.
Deepfakes are content where faces or sounds are switched out or manipulated. Commonly, deepfake creators make videos in which celebrities are made to look like they are willingly appearing in them, even though they are not. Increasingly, the technology has been used to make nonconsensual pornography featuring the faces of celebrities, influencers or any person, including children. Read Article and See Video
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Hackers Steal Around $200 Million from Crypto Lender Euler Finance |
Tech Crunch - Lorenzo Franceschi-Bicchierai
On Monday, the blockchain monitoring firm PeckShield sent an ominous tweet directed at the crypto lending platform Euler Finance, simply saying: “Hi […] you may want to take a look.”
What the firm was suggesting Euler take a look at was a series of transactions that indicated there was an ongoing hack against Euler. According to PeckShield, hackers exploited Euler “in a flurry of transactions” which led to the theft of around $197 million in crypto. Crypto security firm BlockSec also reported the attack.
While this sounds like a lot of money — and it is — it’s only the 26th largest crypto theft ever, according to a website that keeps track of crypto hacks and scams. Read Article
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Surprise: Study Shows App Stores are Full of Fake Reviews |
Kim Komando – Emma Garofalo
Exploring your favorite app store can be fun, but you can’t trust everything you see online. There are tons of malicious apps with fake reviews on official app stores. It’s not just Google Play, either. A recent report has shown that you can find phony reviews everywhere. Who can you trust?
What makes app reviews suspicious?
Consumer group Which? recently unveiled a surprising analysis of almost 1 million app reviews. It critically assesses the success rate of the Google Play Store and Apple’s App Store in their mission to weed out fraudulent user endorsements.
They didn’t just look into no-name brands, developers or publishers either. In Google Play’s top 100 health and fitness apps, at least 25% of reviews appeared to be bogus.
Apple’s App Store fared slightly better, but not by much. Nearly 17% of its health and fitness app reviews raised red flags. Read Article
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That Panicky Call From a Relative? It Could be a Thief Using a Voice Clone, FTC Warns |
NPR - Joe Hernandez
For years, a common scam has involved getting a call from someone purporting to be an authority figure, like a police officer, urgently asking you to pay money to help get a friend or family member out of trouble.
Now, federal regulators warn, such a call could come from someone who sounds just like that friend or family member — but is actually a scammer using a clone of their voice.
The Federal Trade Commission issued a consumer alert this week urging people to be vigilant for calls using voice clones generated by artificial intelligence, one of the latest techniques used by criminals hoping to swindle people out of money. Read Article
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How to Avoid Adware and Trackers When Making an Install on Your Devices |
USA Today - Kim Komando
Developers have a sneaky way of getting you to install extra stuff you don’t need but make them money.
Your computer is sluggish, but you’re not even doing much. Here are five processes you can end right now for a faster, smoother experience. You can thank me later.
Sometimes you need to go further to speed up your PC, especially if it's older. These tricks each take about 60 seconds.
Follow those steps, and you'll clean up some junk, but what about when you install new games, apps, or other software? Read Article
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Human Resource Management News |
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No Gimmicks, Just Authenticity: How To Attract Gen-Z Talent |
CFO.com – Adam Zaki
With the smallest, most tech-focused generation ever entering the workforce, experts say changes must be made to draw Gen-Z candidates.
Generation Z, or those born between 1997 – 2012, are much different than any other age group interacting in today’s work environment. Whether they’re your children, neighbors, employees, or customers, in-person interaction with the first generation to grow up completely in twine with technology can have its difficulties. As baby boomers retire in droves and millennials climb the corporate ladder, entry to mid-level jobs, regardless of industry, will begin to go to Gen-Z candidates.
Gimmicks and the Evaporation of ‘Hustle Culture’
With the labor market as competitive as it is, executives who wish to prepare their companies for the influx of young workers may look for strategies to try to become a top workforce destination for the professional Gen-Z’er. Read Article
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Employers Can’t Offer Severance Agreements with Nondisclosure Clauses, NLRB Says |
HR Dive – Ryan Golden, Senior Reporter
Agreements offered to hospital employees furloughed amid the pandemic violated Section 8 of the NLRA, the Board said in a 3-1 decision.
A Michigan hospital violated the National Labor Relations Act when it offered a severance agreement to permanently furloughed employees that prohibited them from making statements that could disparage or harm the image of the hospital and from disclosing the agreement’s terms, the National Labor Relations Board held in a 3-1 decision Tuesday.
In March 2020, as the COVID-19 pandemic disrupted operations, McLaren Macomb Hospital issued temporary furloughs to 11 union-member employees before permanently furloughing them in June of the same year, the Board said. Read Article
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Employee Making $200K Can Earn Overtime, SCOTUS Holds |
HR Compliance Dive – Ryan Golden, Senior Reporter
Dive Brief:
A tool pusher for oil and gas company Helix Energy Solutions who made more than $200,000 a year but was paid on a daily basis is not exempt from the Fair Labor Standards Act’s overtime pay requirements, the U.S. Supreme Court ruled Wednesday (Helix Energy Solutions, Inc. v. Hewitt, No. 21–984 (U.S. Feb. 22, 2023)).
In a 6-3 decision authored by Justice Elena Kagan, the Court held that Michael Hewitt did not meet the FLSA’s definition of an executive because workers like Hewitt who are paid on a daily rate basis, regardless of their income level, may only qualify for the exemption if they are paid on a salary basis.
Helix’s pay structure for Hewitt did not meet FLSA’s salary-basis criteria, Kagan wrote. The high court’s ruling affirms the judgment of the 5th U.S. Circuit Court of Appeals. Read Article
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Over Half of US Manufacturing Employees Plan to Leave Their Jobs in 2023: Survey |
IndustryWeek – Staff
Surveyed factory workers cite PTO and high-tech facilities as top personal priorities for their workplaces.
A new survey of factory workers by Austin, Texas-based business software company Epicor reveals that high turnover is likely to remain a major feature of the manufacturing sector through 2023, and that many frontline workers tend to see free time and advanced facilities as top priorities aside from wages.
In the online survey of more than 600 manufacturing employees, 56% said they plan to leave their current jobs sometime in 2023, sustaining the high turnover seen by manufacturing in the past few years. In another indicator that factory workers aren’t shy about changing companies, only 7.6% of respondents said turnover has lessened at their workplace, while 45% and 47.3%, respectively, said turnover was higher than ever or about the same as last year. Read Article
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NLRB’s Severance Ruling Has Broad Implications for Employers |
HR Dive – Lyle Moran, Reporter
Attorneys advise businesses to review severance agreements carefully for both union and nonunion employees following the labor board’s McLaren Macomb decision.
In the aftermath of the #MeToo movement, employers have had to grapple with state and federal efforts to limit the use of nondisclosure agreements, particularly in the context of sexual harassment.
Now, businesses and other organizations must confront a recent ruling from the National Labor Relations Board that determined the severance agreements offered by a Michigan hospital were unlawful because of the confidentiality and nondisparagement provisions they included. Read Article
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DOL Oversight of Subminimum Wage Certificates Lagging, GAO Says |
HR Dive – Ginger Christ, Reporter
The agency can take up to two years to process applications.
Dive Brief:
- The U.S. Department of Labor can take up to two years to process new and renewal applications for certificates that permit employers to pay people with disabilities less than the federal minimum wage, according to a report from the U.S. Government Accountability Office.
- The GAO report, published Jan. 25 but released Feb. 24, found that more than 120,000 employees were covered by these certificates and half made less than $3.50 per hour. The DOL’s Wage and Hour Division oversees the program by making sure employers correctly calculate workers’ wages but only processes 40% of applications within four months, the report said. GAO recommended DOL set and track timeliness goals for processing applications.
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“Significant delays raise concerns that employers with expired certificates could continue to operate while not meeting program requirements, such as by not paying commensurate wages,” the GAO report said. From August 2019 through December 2021, DOL found violations at most of the program employers it investigated and determined workers were owed $15 million in unpaid wages. Read Article
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NLRB judge: Starbucks Committed ‘Egregious’ Misconduct During Buffalo-area Union Drive |
HR Dive – Ryan Golden, Senior Reporter
The judge slammed Starbucks’ extended closure of stores and its permanent closure of one store, among other actions.
Starbucks committed several violations of federal labor laws at 21 Buffalo, New York-area stores between 2021 and 2022 as employees launched a highly publicized unionization effort, Michael A. Rosas, an administrative law judge for the National Labor Relations Board, held in a decision Wednesday.
In the 200-plus page ruling, Rosas said Starbucks violated Section 8(a) of the National Labor Relations Act by, among other things, engaging in surveillance and photography of employees participating in union activity; prohibiting employees from discussing wages with one another; and restricting employees from posting union literature at stores which permitted the posting of other types of literature. Read Article
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AI Issues Hitting HR From ‘Everywhere at Once,’ Former EEOC Chair Says |
HR Dive - Laurel Kalser Contributor
Tools developed appropriately may be able to help with DEI initiatives — but therein lies the problem, experts said during a recent SHRM panel.
Artificial intelligence tools offer many potential benefits, but keeping up with AI’s rapidly evolving developments can seem like “Everything Everywhere All at Once,” said Victoria Lipnic, head of the Human Capital Group at Resolution Economics, referring to the Oscar-nominated film as she summarized the challenges employers face.
Lipnic, a former chair of the U.S. Equal Employment Opportunity Commission under Presidents Barack Obama and Donald Trump, moderated a Feb. 28 panel on AI at the Society for Human Resource Management’s Employment Law and Compliance Conference in Washington, D.C. Read Article
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HR Pros Say They’re Stressed About Retention Amid Layoffs |
HR Dive - Kathryn Moody, Senior Editor
As sourcing and hiring remains costly, close to half of respondents to a recent survey said they do not believe the great resignation is over.
The No. 1 stressor for HR pros — who say they’re feeling less motivated compared to a year ago — is keeping top talent on board in a tough market, according to March 13 survey results from isolved.
Amid what isolved called costly sourcing and hiring, close to half of respondents said they do not believe the great resignation is over. The answer to this potential retention crisis may be upskilling, according to respondents; a whopping 98% of survey takers said upskilling their workforce is important, while 58% said their companies have a skills gap. Read Article
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FLSA Permits Employers to Dock PTO for Productivity Shortfalls, 3rd Cir. Says |
HR Dive - Kate Tornone, Lead Editor
An employer did not run afoul of the Fair Labor Standards Act when it deducted paid time off from workers who failed to meet productivity goals, the 3rd U.S. Circuit Court of Appeals ruled Wednesday (Higgins v. Bayada Home Health Care Inc., No. 21-3286 (3d Cir., March 15, 2023)).
Bayada Home Health Care Inc. maintained a productivity system that awarded exempt workers with extra compensation if they hit certain goals; if they failed to hit those goals, it docked their PTO banks. The employer did not dock workers’ base salaries, however, even if they did not have enough PTO available to cover the deduction. Read Article
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NLRB Says Old Severance Agreements with Nondisclosure Clauses are Void |
HR Dive - Caroline Colvin, Reporter
The agency doubled down on its recent position, and said the interpretation applies retroactively.
The National Labor Relations Board doubled down on its stance that employers violate the law when they offer severance packages that require employees to waive certain National Labor Relations Act rights — and has made clear that its position applies retroactively. NLRB General Counsel Jennifer Abruzzo issued memos to all field offices on March 22, offering further guidance following the NLRB’s McLaren Macomb decision.
The NLRB issued its decision (372 NLRB No. 58) on Feb. 21, holding that severance agreements cannot offer benefits on the condition that workers forfeit a statutory right. In that case, severance benefits hinged on agreeing to a nondisclosure provision that prohibited talent from “making statements that could disparage or harm the image of the employer, its parent and affiliates, and their officers, directors, employees, agents and representatives,” per the board’s memo. Read Article
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DOL: Bimbo Bakeries Cannot Countersue Workers Seeking Overtime Pay |
HR Dive Compliance - Emilie Shumway, Editor
Bimbo Bakeries trucks are parked on the left, while a delivery man pulls a load of boxes to load.
Dive Brief:
- The U.S. Department of Labor has requested a Vermont federal court allow it to intervene and seek dismissal of a lawsuit Bimbo Bakeries USA Inc. — a major baking company that owns brands like Sara Lee, Entenmann’s and Brownberry — filed against its drivers, according to a March 21 agency press release.
- The drivers filed a lawsuit in October 2022, claiming the company misclassified them as independent contractors rather than employees in violation of the Fair Labor Standards Act and therefore owes them back overtime pay. Bimbo Bakeries countersued the drivers, seeking to recover sales revenue they collected as contractors if the court deems them employees.
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FLSA compliance and enforcement relies on workers feeling comfortable reporting potential violations to the department, DOL told the court. Should the company be allowed to follow through on its countersuit, “workers may well be chilled from asserting their workplace rights under the FLSA” and may be deterred from cooperating with the DOL on its investigations and litigation, the agency said. Bimbo Bakeries declined to comment. Read Article or Hear 4 Minute Podcast
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Environmental, Health & Safety News |
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Railroads Under New Scrutiny |
EHS Today – David Sparkman
Derailment incident focuses federal agencies and Congress on safety.
Analysis & Commentary
The derailment and chemical release incident in East Palestine, Ohio, may mark a new era in railroad regulation, one that shippers and other critics believe is long overdue. This time the focus not only will be fixed on rail safety, but also on the currently prevalent operations model that imposes an overwhelming emphasis on cost-cutting to boost shareholder value.
Even before the Ohio incident freight railroads were in trouble with the federal government in the form of investigations, service orders and threatened fines being pursued by the Surface Transportation Board (STB), which supervises the freight railroads’ economic practices involving their customers, including service quality, and how they apply freight rates along with demurrage and other fees. Read Article
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EHS Today - Dave Blanchard
The rail industry’s latest misadventures have all the makings of an epic disaster film.
People love disasters (as long as they’re not personally involved). Hollywood has known that for years, with a century’s worth of disaster movies chronicling every kind of natural and supernatural catastrophe you can think of. It doesn’t really matter when or where the disaster happened—moviegoers will flock in droves to see lots and lots of mayhem and destruction, whether it be from volcanoes (“The Last Days of Pompeii,” 1935), earthquakes (“Earthquake,” 1974), tornadoes (“Twister,” 1996), hurricanes (“The Perfect Storm,” 2000), or floods (“The Day After Tomorrow,” 2004). And if the disaster happens to involve negligence or poor planning by corporate types, then just watch the box office soar: “The Towering Inferno” (1974), “Erin Brockovich” (2000), “Contagion” (2011), or the granddaddy of all disaster flicks, “Titanic” (1997).
As you would expect, safety professionals are particularly interested in real-life disasters, especially if the catastrophe seems almost cinematic in its impact. Some of the most popular articles we’ve ever run at EHS Today, which continue to be among our most-read features even many years later, include these headlines-based items: Read Article
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Why Now is the Time to Build Employee Resilience to Stress |
EHS Today - David Utley
Stress may not appear on a spreadsheet, but burnout, turnover, accidents and low morale indirectly impact the bottom line.
Your employees are stressed
Whether they work on the factory floor or in an office setting, employee stress has become an epidemic across the US. According to a recent Gallup poll, US workers are among the most stressed in the world, and a staggering 83% of US workers suffer from job-related stress.
Manufacturing is a High-Stress Industry
The nature of manufacturing brings stress to workers. Fluctuating shift work and managing production quotas can be stressful. In addition, manufacturing relies heavily on the economy's health, so stress surrounding job security can be exceptionally higher in times of recession. Workplace injuries in manufacturing, including unreported injuries, tend to increase when perceived job security is low, according to a study from Washington State University.
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Having trouble finding, selecting, training and keeping the skilled workers you need? Are your employee turnover costs a concern?
Let's start with what we already know:
- Classes alone will not train workers to perform your tasks...
- Quality Control policies and Process Documents are not a substitute for task training...
- Putting 2 people together and hoping for the best is not a training strategy...
- Wishing and hoping won't develop the skilled workers you need...
The cost of one worker malperformance or one worker's under-capacity or under-performance - due to lack of proper training - can more than justify the investment to train all your workers properly!
AND, unstructured, uncontrolled, undocumented task training is going on all day, every day. But if you cannot explain the process, you surely cannot measure and improve it.
Proactive Technologies's approach to structured on-the-job training takes place where, and while, the work is performed. You need no additional staff and structured on-the-job training does not interrupt your work schedule like unstructured, haphazard and ad hoc training or classroom learning does.
You probably have most of the pieces are already in place; they just need structure around them to make the training experience work for everyone through the accelerated transfer of expertise™.
As part of every project, Proactive Technologies provides the support to set-up, implement, manage, document and revise the worker development system so you can stay focused on business.
Copyright © 2019-23 Proactive Technologies, Inc.™ ALL RIGHTS RESERVED
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EMPLOYERS!
If your organization sees training as a cost, not as an investment, maybe you should consider another approach!
- Cuts the employer's internal costs of training;
- Lowers the costs associated with turnover;
- Drives new-hires and incumbent workers to "full job mastery;"
- Increases worker capacity, work quality, productivity and compliance (ISO/AS/IATF training and records requirement, engineering specifications and safety mandates);
- Creates framework for cross-training, retraining and worker certification;
- Establishes the framework for employer specific/job-specific apprenticeships and internships - registered or not;
- Builds career development tracks and succession plans for hourly (and salary) workers;
- Ensures the increased and maintained "Return on Worker investment" through any type of change...
ALL OF THIS FROM ONE APPROACH!
This structured on-the-job training is performed where, and while, the work takes place!
You need no additional staff, and this will not disrupt your work schedule or burden your existing staff!
If your firm is partnered with local career and technical educational institutions, use of shared employer's equipment, facilities and paid wages of trainer(s) and trainee(s) are attractive match for potential grant assistance.
for more information.
Copyright © 2019-23 Proactive Technologies, Inc.™
ALL RIGHTS RESERVED
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Copyright © 1988 - 2023 Proactive Technologies, Inc.TM
ALL RIGHTS RESERVED
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