U.S. manufacturing has shifted from a nearly 11% share of the economy a decade ago to just 8% this year. But these numbers are not granular enough to provide much meaning. Many manufacturing industries continue to expand or are, indeed, just getting started, while some others still are experiencing major declines.
We absolutely believe that as a leader you are a powerful, creative, and indispensable force for good in society. But you’re not a mind reader, nor are you a psychiatrist (most likely).
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U.S. manufacturers shelled out more than $700 million and racked up 6 million staff hours to comply with government rules to disclose conflict minerals in their supply chains, according to Tulane University research. Still, many companies have no idea whether materials vital to their manufacturing process originate from Congo and other war-torn countries. And in the end, it may not matter.
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As manufacturing firms expand domestically, they also are venturing overseas to look for growth opportunities. This is especially true as the dollar powers up, considering the WSJ Dollar Index has hit its highest mark since September 2003. In fact, half the U.S. manufacturers surveyed in this year’s Bank of America Merrill Lynch CFO Outlook are most likely to grow internationally by setting up an in-market subsidiary.
The Panama Canal Expansion Project is the first major renovation the canal has undergone since its opening in 1914, and when it opens in April, it means the canal will be able to accommodate a new line of vessels that were too large to pass through before—ships that can carry about double the tonnage of the ones the Panama Canal could accommodate previously.
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The chief executive of German airline Lufthansa welcomed proposals by pilots to bring a long-running row over pay, retirement benefits and low cost expansion to an end but said talks would likely go on beyond the start of September.
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Travelers Cos. announced on Tuesday that Alan D. Schnitzer will succeed Jay S. Fishman as CEO effective Dec. 1 of this year. Schnitzer has also been appointed to the company's board of directors.
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Thousands of public U.S. companies are likely to soon be forced to share a number many would rather keep under wraps: how much more their chief executives make than their typical rank-and-file employees.
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