Tesla is planning a new distribution facility in Newburgh, New York, that will service stores in New York City and the surrounding area. Lana Bellamy reports in the Times Union: NEWBURGH — Tesla plans to open a regional distribution center in the town of Newburgh by the end of this year, promising to offer at the outset more than 100 new jobs at the facility off Route 300. The Orange County Partnership, a nonprofit focused on attracting business development to Orange County, announced Tuesday that Tesla will move into a 927,000-square-foot facility recently built by New Jersey-based Matrix … [Read more...]
Archives for July 2023
Jaws
Not too many years ago, You Survival Guy (and Gal), kids, sister, brother-in-law, niece, and nephew, jumped off “Jaws” bridge. Located on the road between Oak Bluffs and Edgartown on Martha’s Vineyard. Jumping off the bridge was a highlight of our annual boat trips. It’s where part of the movie Jaws was filmed. The kids hadn’t seen the movie yet. But the adults all had. And if you did too, you know how scary it was swimming after seeing it. The music running through your head, hesitating before jumping in, flailing like mad to get back onto the boat or raft. That was scary. Walking our … [Read more...]
Why Can’t America Build Anything Anymore? A Sad Lesson
Stanley Black & Decker, a storied American tool brand, wanted to build wrenches in America, but failed to do so profitably. Here's the sad story of what transpired when the company tried to make wrenches in Texas, as told by John Keilman in The Wall Street Journal: The world’s largest tool company couldn’t figure out how to make a wrench. Stanley Black & Decker SWK -0.08%decrease; red down pointing triangle built a $90 million factory on the edge of Fort Worth, Texas, intending to burnish the Made-in-the-U.S.A. luster of the Craftsman brand by forging mechanics’ tools with … [Read more...]
UNPAID WORK: The Fallacy of Self Checkout
Americans have been duped into doing grocery store work for themselves at self-checkout aisles across the nation. In The Robin Report, Pam Danziger slams the idea and calls for better options. She writes: Nobody likes waiting in line for a checkout lane to open. No one likes waiting in line, period. Self-checkout was supposed to solve for that, but self-checkout comes with its own set of frustrations, not the least of which is customers are doing unpaid work. Grocery store shopping is something most of us must suffer through, if not weekly, at least occasionally. The average consumer … [Read more...]
Swiss Company to Build New Solar Cell Facility in Colorado
Swiss solar cell manufacturer Meyer Burger is building a new production facility in Colorado Springs. Aldo Svaldi reports in The Denver Post: Meyer Burger, a Swiss maker of solar cells and modules, will locate a new manufacturing plant in Colorado Springs as it boosts its U.S. presence, the Colorado Office of Economic Development and International Trade announced Monday. The new plant is expected to bring up to 380 paying an average annual wage of $77,842, which is nearly 130% of the average annual wage in El Paso County. Project managers, operators, facility managers, process engineers, … [Read more...]
I Like Fidelity’s Treasury Money Market, Should You?
Time for a mid-summer announcement. Don’t let your lazy cash get too comfortable. Yes, banks are doing their best to keep it around, but not quite enough. Plus, how safe is anything above FDIC coverage? All is calm for now, but I don’t think we’ve heard the last of it from banks. Get some of that lazy cash working this summer. Get it into my favored Fidelity Treasury Money Market yielding 4.75%. One of the reasons I like Fidelity’s Treasury Money Market (FZFXX) is because it’s not a cd. It’s not stuck in a CD for days, months, and/or years. It can’t be called away from you, either. If … [Read more...]
Teamsters Strike Averted at Nearly Bankrupt Trucker, Yellow
Teamsters threatening Yellow, a nearly bankrupt trucking company, with a strike have postponed their plans, most likely saving the company from liquidation, for now. Paul Page reports in The Wall Street Journal: The Teamsters union pulled back its threat of a strike this week at financially-ailing trucker Yellow, averting an action the company had said would send the business into liquidation. The union said Sunday that it withdrew plans for the walkout, which could have started as soon as Monday, after a pension fund agreed to continue to extend health benefits to unionized workers at … [Read more...]
America’s Oil Export Epicenter Is Growing Fast
Corpus Christi Bay has turned into America's energy export epicenter after the federal government legalized the export of crude oil in 2015. David Uberti and Beoit Morenne explain the area's growth in The Wall Street Journal, writing: Corpus Christi is the closest deep-draft port to the Permian Basin in West Texas and New Mexico, America’s hottest oil field. Crude extracted from shale rock there, prized by overseas refineries for its light, sweet quality, trades at a premium to many other grades. That oil was confined stateside as the shale boom unleashed unprecedented U.S. … [Read more...]
US-CHINA TRADE: Breaking Up Is Hard to Do
The Biden administration is continuing a push begun by the Trump administration to loosen ties between the American and Chinese economies by using "friendshoring," and other techniques to decrease dependence on Chinese production. That isn't so easy, reports Andrew Duehren in The Wall Street Journal. Duehren writes: HANOI, Vietnam—The Biden administration’s attempt to surgically cut economic ties with China is proving difficult to execute. Treasury Secretary Janet Yellen visited Vietnam this week to discuss her push for “friendshoring,” a term she uses to call for companies to shift supply … [Read more...]
China Is Importing More Coal than Ever
China is about to break a record for coal imports, and the high demand for seaborne coal is helping to put a floor on dry bulk shipping rates. Splash247's Sam Chambers reports: Dry bulk rates might be in the doldrums, but they’d be in a whole lot worse state were it not for the sensational amount of coal China has been importing in recent months, with the People’s Republic now on course to import 400m tonnes this year, smashing last year’s total by 100m, as well as the record set back in 2013 of 327m tonnes. The full year target figure of 400m has been mentioned by China’s National Coal … [Read more...]
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