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News from Worker Development, Industry, the Economy, Education, Science, and much more! |
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Tips for Establishing Your Company’s Training Strategy – Practical, Measurable, Extremely Economical and Scalable |
by Dean Prigelmeier, President of Proactive Technologies, Inc.
For most companies, an in-house training center doesn’t have to be brick and mortar, and doesn’t necessarily require additional equipment and personnel to support it. It is about focusing the resources already available to develop workers faster and to a much higher level of capacity. This does not happen by throwing dollars or classes at the problem; if that were the case many employers who did so would have solved the “skills gap” problem. It takes a more deliberate approach than that to achieve the outcome that has been out of reach, for many, for decades.
In previous articles, such as in the May, 2016 issue of the Proactive Technologies Report, “A Simple Solution to Skill Gaps – New-Hires and Incumbents” I described a simple, easy to implement strategy for developing new-hires and incumbent workers to full capacity. I emphasized that by focusing on the outcome, the proper inputs become clearer. But by focusing on the inputs, the connection to the outcome may not necessarily be clear. Any use of irrelevant, improper or ineffective worker development inputs means unnecessary costs with low or no return, wasted time and additional opportunity costs.
Over the years, I have noticed that many employers’ idea of a worker training strategy is a hodge-podge of classroom and online training. This seems to be based on the assumption that all of the right people have been hired, they all have mastered the tasks of the job and that a few classes will drive each worker’s performance to higher levels.
Where does this assumption come from? Why do employers collectively settle for this type of model even though decades of experience and day to day worker performance offer many clues that this model of worker training is not as effective as hoped? Too often the feedback from workers attending classes is, “I don’t know why the company had me attend that class.” “That was a waste of time.” In an informal way, this is a form of “content validation,” or in this case “invalidation.”
“Conceptually, a better overall approach is simple, accurate, efficient and effective. If an employer isn’t including these simple steps in their worker selection, development and performance evaluation strategy the might be wasting company time, money and resources.”
This legacy approach is a comfortable model to explain. Everyone has attended school; some higher education as well. It is what we grew up with and the sentiment has become acceptance from familiarity. Some accept this approach because they are unaware of better alternatives. Some find comfort in being among the “herd.” Most of the employers seemed locked into this model, so it must be the right way to train workers. If this were true and reinforced with evidence, why after 30 years of concentrated application (as technology entered nearly every aspect of worker performance) the “skills gap” we all talk about has not only survived, but has actually grown? Read More
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Structured On-The-Job Training Programs for Salaried Personnel |
by Stacey Lett, Regional Director of Operations - Eastern U.S. - Proactive Technologies, Inc.
It is not just the hourly workers that, once hired, run into the “Bob, this is Sally. Why don’t you show her around” form of “training.” In environments where no structure exists to deliberately train hourly workers, supervisors and managers are similarly shown their desk and wished “good luck.” Yes, the company may offer a series of management courses that explain contemporary management theories, but often the most overlooked training is for the tasks against which performance is ultimately measured.
We frequently hear anecdotal stories about supervisors who are “thrown into the mix” of not only having to lead their workers to measured levels of performance, but concurrently learn their own job from their surroundings as best they can. Other supervisors and managers may be under the same pressure to focus on output, so they may be rarely available to mentor a new manager. Most likely, nothing was ever written down. Even worse, supervisors or managers who are new to the entire operation may have to learn what it is their employees do by observation before they can attempt to lead them to better performance.
Sounds familiar? It seems to run contrary to all the other business improvement initiatives, such as Six-Sigma, LEAN, Continuous Improvement, Total Quality Management, etc. Do companies have to settle for a “seat-of-the-pants” learning experience for their hourly and salary workers? And could this be a major contributing factor in reduced organizational competitiveness? Read More
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Reducing an Employer's Turnover Rate in a Practical, Efficient Way |
by Frank Gibson, Workforce Development Advisor, retired from The Ohio State University – Alber Enterprise Center
These projects began in the latter part of 2019, right at the beginning of the Covid – 19 experience. Their lead technical consulting company, Proactive Technologies, Inc, focused on setting up for SOJT programs for nine job classifications at the Fostoria facility and 10 job classifications at the Upper Sandusky facility. This included 320 incumbent workers and many more new hires.
When the project initially began, one of the main concerns of the CGS upper management was the challenging high level of turnover, exacerbated by the Covid – 19 events and aftermath. At times it seemed as if turnover reached the 20 to 25% level.
After the SOJT programs were underway, each incumbent worker's inventory of tasks mastered was established to baseline each worker for the tasks they have previously been trained on and management and the employee believed they had mastered. Customized SOJT programs were developed for each based on where they were in their development (to avoid wasting time and money training workers on what they could already do) and what was necessary to close the "task mastery gap."
New-hires were set-up on their own customized SOJT program, starting at a level of zero tasks mastered, and therefore given a complete SOJT checklist binder. Both groups were, and continue to be, driven towards "full job mastery" in what is called an " accelerated transfer of expertise." Each employee receives certificates of task mastery for reaching the 50% of tasks mastered mark, and certificates of job mastery once they have mastered the entire job classification. Read More
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Structured On-The-Job Training for Non-Manufacturing Job Classifications |
by Dean Prigelmeier, President of Proactive Technologies, Inc.
Although the PROTECH© system of managed human resource development was designed for manufacturing and there has extensively proven its effectiveness, the approach is just as effective for jobs in any industry, and level of the organization. Proactive Technologies, Inc.'s job/task analysis methodology is rooted in those used by the U. S. Departments of Defense and Energy – modified for use in the private-sector world with private-sector budgets and time constraints. The development and use of the job data is based on those practices that seemed to be working in human resource management, human resource development, technical writing, quality control and workforce development – modernized to an ever-changing and challenging world.
When it comes to the analysis of the job, which is the center of all instruments and activities developed from it, the common factor of all work is that it can be defined in discrete units called “tasks.” Nobody is ever hired and expected to be very knowledgeable about a subject, or be very aware, or be strong. These attributes do not become useful until applied in the performance of a meaningful recognizable unit of work. If correct performance of the task, the “best practice,” requires these attributes as either a necessary to learning to perform the task or needed in the performance of the task, they become prerequisite, but not the outcome.
Every job classification can be broken into its duties (groups of related tasks), tasks and subtasks. That is where performance is measured and it should be the outcome that is detected and improved. There are individuals who cannot conceptualize this relationship and say something like, “my job is too complicated, it cannot be defined because I am asked to do so many things.” Once they are walked through how they think their way through a series of steps to get to an outcome, they are usually converted. If the analyst cannot get a handle on a job classification, perhaps there really isn’t an underlying job.
Each task and subtask has beginning point and an ending point and a series of steps between called “elements,” process steps” or “procedural steps” that must be performed correctly, in the right order and meeting specifications to get the right, repeatable outcome. Read More
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IN THIS ISSUE:
Proactive Technologies, Inc. Worker Development News
Industry News
Financial 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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Onsite and group presentations
are being scheduled for the following states, and a representative will be in your area, in the month of:
May, 2022
Proactive Technologies is currently scheduling stops in the following areas:
COLORADO
FLORIDA
ILLINOIS – Southern, I-80 Corridor
INDIANA
KANSAS – I-70 Corridor, Wichita
MISSOURI
NORTH CAROLINA
OHIO
SOUTH CAROLINA
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.
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, First Quarter 2022(Advance Estimate)
Real gross domestic product (GDP) decreased at an annual rate of 1.4 percent in the first quarter of 2022, following an increase of 6.9 percent in the fourth quarter of 2021. In the first quarter, there was a resurgence of COVID-19 cases from the Omicron variant and decreases in government pandemic assistance payments. Read Report
Personal Income and Outlays, March, 2022
Personal income increased $107.2 billion, or 0.5 percent at a monthly rate, while consumer spending increased $185.0 billion, or 1.1 percent, in March. 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 6.2 percent in March, compared with 6.8 percent in February. 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 March increased $2.3 billion or 0.8 percent to $275.0 billion. March 2022: +0.8° % change; February 2022 (r): -1.7° % change. Read Report
Manufacturers’ Shipments, Inventories, and Orders
New orders for manufactured goods in February decreased $2.7 billion or 0.5 percent to $542.0 billion.
February 2022: -0.5° % change; January 2022 (r): +1.5° % 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
In March, the Consumer Price Index for All Urban Consumers rose 1.2 percent, seasonally adjusted, and rose 8.5 percent over the last 12 months, not seasonally adjusted. The index for all items less food and energy increased 0.3 percent in March (SA); up 6.5 percent over the year (NSA). Read Report
Producer Price Index
The Producer Price Index for final demand increased 1.4 percent in March. Prices for final demand goods advanced 2.3 percent, and the index for final demand services rose 0.9 percent. Final demand prices moved up 11.2 percent for the 12 months ended in March. Read Report
Job Openings and Labor Turnover
Job openings changed little at 11.3 million on the last business day of February. Hires edged up to 6.7 million, while total separations changed little at 6.1 million. Read Report
Unemployment Rate for States
Unemployment Rates for States, Seasonally Adjusted. Read Report
Job Creation - Employment Situation Summary
The number of job openings was little changed at 11.3 million on the last business day of February, the
U.S. Bureau of Labor Statistics reported today. Hires edged up to 6.7 million while total separations
were little changed at 6.1 million. Within separations, the quits rate was little changed at 2.9 percent and
the layoffs and discharges rate was unchanged at 0.9 percent. This release includes estimates of the
number and rate of job openings, hires, and separations for the total nonfarm sector, by industry, by four
geographic regions, and by establishment size class. 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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Cornell Law School - U.S. Private Sector Job Quality Index |
U.S. Private Sector Job Quality Index
For December 2020 by the U.S. Bureau of Labor Statistics (BLS), the U.S. Private Sector Job Quality Index (JQI)® has been revised to a level of 81.24, down by 0.91% from its revised level one month earlier and reflecting a higher proportion - relative to the prior month - of U.S. production and non-supervisory (P&NS) jobs paying less than the mean weekly income of all P&NS jobs (“Low Quality Jobs”), relative to those jobs paying above such mean. The JQI remains heavily impacted by the extraordinary disruption in the number and composition of private sector production and non-supervisory jobs since the beginning of the U.S. impact of the COVID19 global pandemic, with regard to which the following additional special factors should be noted: Read Report
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Department of Transportation Sets New SHOULDN’T Standards for Light-Duty Vehicles |
IndustryWeek – Staff
The new standards will require passenger cars and light truck fleets to average 49 mpg by 2026.
Roughly a month after the EPA proposed new standards for truck emissions, the U.S. Department of Transportation published the next changes to fuel-efficiency regulations for light trucks and passenger cars. In an April 1 update to Corporate Average Fuel Economy standards, OEMs will be required to maintain a fleet with at least 49 miles per gallon by 2026.
According to different government agencies, the latest slate of regulations is likely to cost car buyers more money, but save consumers money on gas. The National Highway Traffic Safety Administration projected the changes would raise the price of a new car by just over $1,000 by 2029, but that fuel savings would allow for about $1,400 in expenses over the lifetime of the newer vehicles. Read Article
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Senators Call for Investigation of Hertz After Hundreds of Rental Car Customers Claim False Arrest |
USA Today – Katie Wedell
Two U.S. Senators are urging the federal government to investigate Hertz rental car company’s business practices that have led customers to make hundreds of allegations of false arrest.
Sen. Richard Blumenthal, D-Conn., who chairs the Senate’s Consumer Protection Subcommittee, wrote to the company this week about Hertz customers being arrested for driving rental vehicles the company incorrectly reported as stolen.
That currently is the focus of a lawsuit in U.S. Bankruptcy Court in Delaware. Read Article
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MODEX 2022: Getting the Supply Chain Back on Track |
IndustryWeek – Dave Blanchard
While technology may not solve every problem, it might be enough to reinvigorate the supply chain.
What a difference two years make. It’s been that long since the North American material handling and logistics industry has had an in-person trade show to showcase all the latest developments in supply chain technology. In fact, it was during day 3 of MODEX 2020 in Atlanta when the global pandemic was officially declared, and it’s hard to forget those images of an exhibition center—which was already half-empty due to numerous cancellations and early exits—basically just rolled up the carpets as the few remaining attendees decided to call it a day... or as it turned it, two long years.
Back in 2020, it was still considered trendy to refer to various supply chain technologies as “disruptive,” which back then meant they had the capabilities to help companies gain a competitive advantage over their peers.
Today, of course, “supply chain disruptions” has taken on an entirely different meaning, signifying the varied and numerous failures companies—and their customers—have experienced in getting products made and delivered in anything remotely resembling a timely fashion. Read Article
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Lessons OEMs Should Have Learned by Now |
IndustryWeek – Paul Ericksen
The 2020s are one big teaching moment so far, but who’s listening?
The COVID-19 pandemic, along with Russia’s invasion of Ukraine, has dealt a “one-two punch to original equipment manufacturers’ (OEM) supply chain performance. Suppliers are having difficulty supporting OEM customers with the parts and components they need to manufacture of their products. Even if available, the parts are often late and in lower numbers than the OEM’s schedule requires. And they cost more.
This article will discuss four lessons that—hopefully—OEMs have learned relative to both their sourcing and supply management strategies. Read Article
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Why Won’t My Suppliers Do It My Way? |
IndustryWeek – Christophe Lemaitre
As you shift from paper to digital processes, try to understand where your suppliers are coming from and what you can do to make their lives easier.
When buyers and suppliers interact, paper still rules. One study by AP Moeller Maersk found that the shipment of one container from Kenya to the Netherlands required over 200 document exchanges between 100 different people, generating a paper pile 10 inches high. A separate study conducted by Payments Journal found 70% of supplier invoices still come through the mail.
Large buyers, keen to reduce the cost associated with processing millions of paper and PDF invoices, have been trying to bring about a change for years. The pandemic has strengthened their resolve. Mckinsey reports that between January and October 2020, the digitiation of supply-chain interactions and internal operations among large organizations accelerated by three to four years. Read Article
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Rebuilding Local Economies Across America |
Brookings Institution – Joseph Parilla, Ryan Donahue, and Sarena Martinez
Leaders in America’s cities and regions are grappling with the fallout of a severe pandemic, historic economic crisis, and social and racial reckoning. In this post-crisis moment, a wide range of local government, business, civic, and community organizations—which in the past tended to operate in isolation, if not at cross purposes—are navigating their disparate narratives and goals, rethinking their missions to drive economic and racial inclusion, and forming new systemic alliances that will enable them to improve and scale their efforts. Drawing inspiration from case studies profiling efforts to “rewire systems” in five older industrial cities (Akron, Ohio; Birmingham, Ala.; Cincinnati, Ohio; St. Paul, Minn., and Syracuse, N.Y.), this report provides a framework and practical examples that can guide local action and state, federal, corporate, and philanthropic investment in cities across the nation.
The challenge: Local communities have struggled to marshal the capacity to advance inclusive growth, but are increasingly adopting approaches that work across system pillars. Read Article
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Colorado Regulators Find ‘Systemic Issue’ with Carvana, but State Lacks Enforcement Authority |
Denver News7 – Jaclyn Allen
Carvana’s promise is easy car buying, but one customer after the next has told Contact Denver7 that Carvana has reneged on that pact.
Contact Denver7 has been investigating the popular online car dealership, which is now facing scrutiny with multiple states issuing fines or suspending the dealership’s license. However, in Colorado, there is little the state can do as the point of sale for local customers most often occurs in another state. Read Article and See Video
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Nucor Invests in Nuclear Small Modular Reactor Venture |
IndustryWeek – Geert De Lombaerde
NuScale has signed 20 MOUs and expects to have $10B+ in revenues by 2030.
Steel giant Nucor Corp. has pledged $15 million to the planned merger of NuScale Power LLC, a developer of nuclear small modular reactors, with a blank-check company.
NuScale executives have agreed to buy $15 million worth of shares of Spring Valley Acquisition Corp. via a private placement that will help fund the commercialization of NuScale’s technologies. NuScale and Spring Valley in December agreed to combine in a deal valuing the combined company at $1.9 billion. Among other backers of the project are Samsung C&T Corp., Segra Capital Management and Pearl Energy. NuScale is a subsidiary of engineering and construction conglomerate Fluor Corp., which will remain the entity’s majority owner once the Spring Valley transaction is completed. Read Article
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White House Guidance Directs Infrastructure Projects to Use US-Made Materials |
IndustryWeek – Staff
Federal guidelines direct that money from the $1 trillion infrastructure bill should be spent on American metals, not imported.
The White House is looking to ensure U.S. infrastructure is built using U.S. metals. A memo released by the Biden Administration on April 18 details the requirements and exceptions for federally-funded infrastructure projects to use metals, construction materials, and products manufactured in the United States. The new rules go into effect by May 14 of this year.
The memo, consistent with last fall’s passage of a $1 trillion infrastructure bill clearing billions of dollars for new roads, bridges, and pipelines and a January 2021 executive order, stipulates that projects built using the federal funds should use 100% U.S.-made iron, steel, and construction materials, as well as at least 55% other manufactured products by cost. Read Article
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Ohio Approves Incentives for Battery Assembly Plant That Would Create 1,200 Jobs |
Assembly Magazine
SIDNEY, OH—Fresh off of winning Intel’s $20 billion project to make semiconductors in Licking County, the state is on the verge of landing another big project: a $900 million investment by a Chinese manufacturer of materials used in batteries that power electric vehicles and other products.
The Ohio Tax Credit Authority approved tax incentives for Semcorp Manufacturing USA for the project, which would create some 1,200 jobs in Sidney, OH. The jobs have a payroll of $73 million.
The company is a large producer of separator film used in lithium-ion batteries. The company’s focus is on electric vehicles along with consumer electronics and energy storage systems. Read Article
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Automaker Rebound Boosts US Industrial Production in March |
IndustryWeek – Agence France-Presse
Total industrial production increased by just under one percentage point.
U.S. industrial production climbed in March as automakers shifted into gear despite the ongoing semiconductor shortage, the Federal Reserve said Friday.
Industrial production climbed 0.9% last month, the Fed said, more than expected and pushing the metric of industry output to an annualized rate of 8.1% for the first quarter.
Motor vehicles and parts production jumped 7.8% and fueled a 0.9% gain in overall manufacturing, while other factories saw production rise 0.4%, the data said. Read Article
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How Bitcoin Mining Devastated this New York Town |
Area Development – MIT Technology Review, Lois Parshley
Between rising electricity rates and soaring climate costs, cryptomining is taking its toll on communities.
If, in 2017, you had taken a gamble and purchased a comparatively new digital currency called Bitcoin, today you would be a millionaire many times over. But while the industry has provided windfalls for some, local communities have paid a price.
Cryptocurrency is created by computers solving complicated mathematical equations—a process that took off after a Chinese company called Bitmain started selling a machine in 2016 with application-specific integrated circuits that made it possible to do this specialized computing much more quickly. “Almost overnight,” says Colin Read, a professor of economics and finance at the State University of New York at Plattsburgh, “a crypto-mining arms race began.” Read Article
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Proven Solutions for Employers and Education
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about K & D Consulting, LLC
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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 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 © 2019-22 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
- Courses Front Line Supervisor Training
- Training Materials and Online Courses
Copyright © 2019-22 Lifetime Learning
ALL RIGHTS RESERVED
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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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PBGC Approves Special Financial Assistance Application - Local 641 Plan Participants’ Benefits to be Restored |
Pension Benefit Guaranty Corporation
WASHINGTON, D.C. — The Pension Benefit Guaranty Corporation (PBGC) announced today that it has approved the application submitted to the Special Financial Assistance (SFA) Program by the Teamsters Local 641 Pension Plan (Local 641 Plan). The plan, based in Union, New Jersey, covers 3,610 participants in the transportation industry.
The Local 641 Plan became insolvent in March 2021. At that time, PBGC started providing financial assistance to the plan. As required by law, the Local 641 Plan reduced participants’ benefits to the PBGC guarantee levels, which was roughly 55 percent below the benefits payable under the terms of the plan. Read Release
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Microsoft, Unwilling to Share Employee Data, Asks to Terminate $20M State Incentives Package |
WRAL.com Techwire – Jason Parker
CHARLOTTE – Microsoft is foregoing two economic incentive packages granted by the state of North Carolina because it is not “willing to share” employee data that would validate agreements formed with the state in 2019.
Earlier this month, the company formally requested that two state economic incentive grants that had been approved in 2019 be terminated. Under the agreements, the company could have received about $20 million in economic incentives.
In a letter sent by the company to the North Carolina Department of Commerce’s Economic Investment Committee, Microsoft cited an unwillingness to share employee data to complete the validation of job creation specified in the previously approved Job Development Investment Grants (JDIG). Read Article
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PBGC Approves Special Financial Assistance Application – Lithographers Plan Participants’ Benefits to be Restored |
Pension Benefit Guarantee Corporation
WASHINGTON, D.C. — The Pension Benefit Guaranty Corporation (PBGC) announced today that it has approved the application submitted to the Special Financial Assistance (SFA) Program by the San Francisco Lithographers Pension Plan (Lithographers Plan). The plan, based in San Francisco, California, covers 1,572 participants in the printing industry.
The Lithographers Plan became insolvent in June 2021. At that time, PBGC started providing financial assistance to the plan. As required by law, the plan reduced participants’ benefits to the PBGC guarantee levels, which was roughly 20 percent below the benefits payable under the terms of the plan. Read Release
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Climate Change Creates Financial Risks. Investors Need to Know What Those Are. |
Brookings Institution – Michael Panfil, Lead Counsel and Director – Climate Risk Strategies; David G. Victor, Nonresident Senior Fellow – Foreign Policy, Global Economy and Development, Energy Security and Climate Initiative
The U.S. Securities and Exchange Commission (SEC) voted recently to move a proposal forward that would require publicly traded companies to disclose the financial risks they face from climate change. These rules aim to bring corporate obligations for the disclosure of climate risk level with the requirements for disclosure of other forms of financial risk. Doing so is long overdue and a critical step to ensuring investors have access to information about the investment risks faced from climate. Those financial harms include “transition risks” stemming from shifts in innovation, technology, and competitive landscape as well as “physical risks”, such as more severe wildfires to more frequent flooding.
Our financial system has always relied on publicly traded companies being transparent about the risks their businesses navigate. This open accounting of business prospects is fundamental to the healthy operation of our economy — reliable information is the bedrock of efficient markets. Publicly traded companies are required to regularly issue disclosure reports that investors — from Wall Street to Main Street — rely on when choosing where to invest their money seeking opportunity and avoiding unwarranted risk. Read Article
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PBGC Approves Special Financial Assistance Application – Local 186 Plan Participants’ Benefits to be Restored |
Pension Benefit Guarantee Corporation
WASHINGTON, D.C. — The Pension Benefit Guaranty Corporation (PBGC) announced today that it has approved the application submitted to the Special Financial Assistance (SFA) Program by the Laborers’ Local 186 Pension Plan (Local 186 Plan). The plan, based in Massena, New York, covers 379 participants in the construction industry.
The Local 186 Plan became insolvent in July 2021. At that time, PBGC started providing financial assistance to the plan. As required by law, the Local 186 Plan reduced participants’ benefits to the PBGC guarantee levels, which was roughly 35 percent below the benefits payable under the terms of the plan. Read Release
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Outsourced Middle-office Services Gaining Traction with CFOs |
CFO Dive – Ted Knutson
CFOs can expose their in-house staff to the newest technology and best practices by augmenting their processes with managed services, consultants say.
CFOs are increasingly ready to use a managed-services delivery model for middle-office functions such as transaction processing and risk management.
The services, in which CFOs outsource back-office functions like accounts payable and accounts receivable, enable CFOs to create the internal infrastructure to compete with faster-to-market or better resourced competitors without steep upfront investment. Read Article
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M&A Slumps 23% During First Quarter Amid Headwinds |
CFO Dive – Jim Tyson, Senior Reporter
Dive Brief:
The total value of worldwide mergers and acquisitions slumped 23% to $1 trillion during the first quarter compared with the same period last year, restrained by turbulent equity markets and other headwinds, Refinitiv said Friday.
“The deal-making environment has changed dramatically over the last three to six months, as world conflict, volatile stock markets and economic indicators have clearly caused boardrooms to evaluate the new landscape,” according to Matt Toole, director of deals intelligence at Refinitiv. The total number of announced deals during the first quarter fell to 12,601, a 19% decline compared with the same period last year. Read Article
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After Record Year, Time for CFOs to Rethink Aggressive Buybacks |
CFO Dive – Ted Knutson
Bad timing can turn what should be a financial booster into a long-term negative ROI, a veteran management consultant says.
Buybacks can be an effective part of your financial strategy but too often companies don’t think through the best way, and the best time, to authorize their programs, says Greg Milano, CEO of Fortuna Advisors, a management consulting firm.
“If you buy back shares when they’re relatively cheap, it benefits ... shareholders,” Milano told CFO Dive. “But if you instead concentrate buybacks when the price is peaking, it will drain value from the remaining shareholders and restrict share price increases. Unfortunately, most CFOs do not think this way.” Read Article
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Why Members of Congress Should Not Trade Stocks |
Bloomberg Law
Richard W. Painter, University of Minnesota Law School professor and former chief White House ethics lawyer under President George W. Bush, discusses why Congress must pass a law banning trading of individual stocks by its own members and policymakers. Securities trading by representatives comprises a financial conflict of interest with official duties that undermines the public’s confidence in government, he says.
House Speaker Nancy Pelosi (D-Calif.) just handed Republicans an enormous political opportunity. Despite overwhelming evidence that allowing members of Congress and their spouses to trade individual stocks is a very bad idea, the speaker insists that they should be permitted to do so.
Pelosi’s husband is a very active trader in the stock market, and within weeks of her announcing her position on this issue, he resumed trading. Read Article
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Cryptocurrency Case May Lead to Disclosure of Investment Risks |
CFO.com – Matthew Heller
Classifying digital tokens such as Ripple’s XRP as securities would subject issuers to SEC disclosure requirements.
For CFOs considering adding digital assets to their cash management strategy, there hasn’t been much guidance from the U.S. Securities and Exchange Commission. As a result, answers to such questions as “What are the risks?” and even “Are digital assets subject to SEC regulation?” are unclear.
But transparency of a sort may be coming, as perhaps the SEC’s most significant case to date against a cryptocurrency firm picks up steam in New York federal court.
In March, a judge there ruled that Ripple Labs could argue it did not have “fair notice” that sales of its XRP digital tokens violated federal securities laws. Read Article
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FTC Orders Fixes at Dun & Bradstreet, Citing Report Errors |
CFO Dive – Jim Tyson, Senior Reporter
Dive Brief:
The Federal Trade Commission (FTC) finalized an order against Dun & Bradstreet Holdings, a provider of credit report services, for allegedly deceiving businesses about the value of its products and failing to correct errors in its reports.
“Many businesses have complained of errors in these reports that have cost them time, expense and opportunities,” the FTC said Thursday in a statement. Dun & Bradstreet “failed to give these businesses a clear, consistent and reliable process to get these errors fixed.”
Dun & Bradstreet “profited from businesses’ pain by selling them a line of products that purported to help them improve their reports,” the FTC said. “In fact, for many businesses these benefits proved illusory.” Dun & Bradstreet did not respond to a request for comment. Read Article
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Elon Musk: Activist Investor? |
NPR Planet Money – Paddy Hirsch
Last week, Elon Musk completed the purchase of 9.2% of Twitter’s stock and became the social media company’s largest shareholder. He was also offered a seat on the company’s board, which he recently declined.
On one level, Musk’s investment seemed to make a lot of sense: Musk has long been one of Twitter’s loudest, most controversial, and — with more than 80 million adherents — most followed voices. It was also a great deal: He paid a total $2.64 billion over about three months, and the stock rose more than 25% when the news broke.
On another level, however, the acquisition doesn’t seem to track so well: Musk is a big user of Twitter, but he’s also been a fierce critic. He has complained that Twitter “serves as the de facto public town square” but fails “to adhere to free-speech principles.” He has criticized the platform’s utility, because users are unable to edit the content they post. He has objected to the bans that Twitter has placed on certain users. Why would someone who dislikes a company this much want to own not just a piece of it, but a piece larger than anyone else’s? Read Article and Her Podcast
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Janet Yellen Seems to be Rethinking Globalization, Too |
Coalition for a Prosperous America – Kenneth Rapoza
Over the last few weeks, a rash of thought leaders, from Larry Fink of BlackRock to the editorial pages of The New York Times, have done vast rewrites of globalization. It’s finally over, was the takeaway, after years of hand-wringing on the subject by the likes of The Economist. At best, it will never be the same. Treasury Secretary Janet Yellen seems to have joined the chorus.
In a speech at The Atlantic Council on April 13, Yellen said, “Our objective should be to achieve free but secure trade. We cannot allow countries to use their market position in key raw materials, technologies, or products to have the power to disrupt our economy or exercise unwanted geopolitical leverage.”
This isn’t necessarily a slight against China. In fact, Yellen only mentioned China with respect to its support for Russia, calling on Beijing to act as a moderator of sorts to convince Moscow to end the war. Read Article
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PBGC Approves Special Financial Assistance Application – Teamsters Local 617 Participants’ Benefits to be Restored |
Pension Benefit Guarantee Corporation
WASHINGTON, D.C. — The Pension Benefit Guaranty Corporation (PBGC) announced today that it has approved the application submitted to the Special Financial Assistance (SFA) Program by the Teamsters Local 617 Pension Plan (Local 617 Plan). The plan, based in Ridgefield, New Jersey, covers 891 participants in the transportation industry.
The Local 617 Plan became insolvent in March 2020. At that time, PBGC started providing financial assistance to the plan. As required by law, the Local 617 Plan reduced participants’ benefits to the PBGC guarantee levels, which was roughly 65 percent below the benefits payable under the terms of the plan. Read Release View Other PBGC Releases
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IRS ‘Outgunned’ by Non-compliant Businesses, Rettig Says |
CFO Dive – Jim Tyson, Senior Reporter
Dive Brief:
IRS Commissioner Charles Rettig told a House panel Thursday that the agency lacks the funding and resources necessary for auditing a large number of big companies that file questionable tax returns.
“Our ability to enforce the tax laws against non-compliant taxpayers with complex returns continues to be hampered by a lack of resources,” Rettig said in testimony to a subcommittee under the House Oversight and Reform Committee. “We can no longer audit a respectable percentage of large corporations, and we are often limited in the issues reviewed among those we do audit.”
“These corporations can afford to spend large amounts on legal counsel, drag out proceedings and bury the government in paper,” Rettig said in written testimony to the subcommittee on government operations. “We are, quite simply, outgunned in our efforts to assure a high degree of compliance for these taxpayers.” Read Article
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Are You Shorting Yourself on EBITDA? |
IndustryWeek – Mike Trinks
Many manufacturers seriously undervalue the cost of their products.
Know your worth. That’s an empowering message, and sage advice for an individual. There’s a similar and equally important message that needs to be shared with manufacturers. Know your product’s worth.
It’s not an exaggeration to say roughly half of all manufacturers don’t calculate the cost of their inventory properly. Both fixed and variable costs factor into the fully loaded cost per unit. There are also instances in which business owners miscategorize expenses, mismanage marketing initiatives and undervalue their company on their balance sheet and in acquisition negotiations. Read Article
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Financial Book Reviews For Our Time |
More Like This Please! The Wild, Conspiracy-filled Netflix Documentary That You Can’t Resist
The Guardian – Stuart Heritage
Was he murdered? Did he fake his own death? Or did he just die? Trust No One: The Hunt for the Crypto King is a fresh, exciting look at a cryptocurrency superstar’s death
I seem to have spent most of 2022 ragging on all the terrible true-crime shows that have suddenly flooded streaming services, so it is only right that I should use this space to point out ones that are actually good. So allow me to present Netflix’s Trust No One: The Hunt for the Crypto King.
Trust No One tells the story of QuadrigaCX, a cryptocurrency exchange that collapsed spectacularly without warning. Quadriga’s founder – an amiable goofball named Gerald Shouldn’t – died without warning in India, and his death blocked people from accessing their money, which totalled hundreds of millions of dollars. Investors were angry, lives were ruined and so much was left unclear that a wealth of wayward theories about Shouldn’t erupted. Was he murdered? Did he steal the money and fake his own death? Is he out there now, surgically altered and living on a private island? Read Article
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Mexico, Latin America, South America and the Caribbean |
Trade Reform Can Help Latin America and the Caribbean Usher in New Era of Growth
Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) GmbH – World Trade Organization
Trade reform can help Latin America and the Caribbean usher in new era of growth
The WTO hosted a conversation with a senior World Bank official and WTO ambassadors on 29 March to discuss the regional economic outlook for Latin America and the Caribbean and the role of trade in its recovery. Deputy Director-General Anabel González, the co-chair of the meeting, noted the progress made but said more was needed to improve the region’s trade and investment environment.
Carlos Felipe Jaramillo, World Bank Group Vice President for Latin America and the Caribbean, highlighted for ambassadors the need for countries in the region to leverage trade policy to transition to a new growth path that creates jobs, reduces poverty and protects the region’s wealth of natural resources. Read Article
López Obrador’s flirtation with Russia Risks Worsening US-Mexican Relations
Brookings Institution – Arturo Sarukhan, Nonresident Senior Fellow – Foreign Policy, Center for Security, Strategy, and Technology, Latin America Initiative Former Ambassador of Mexico to the United States
Since the early days of Russia’s premeditated and unjustified invasion of Ukraine, Mexico has been raising eyebrows and opening question marks in Washington as well as in the capitals of other nations determined to push back on Vladimir Putin’s war of aggression.
At first blush, it would seem that some in Mexico, unwittingly or wittingly, seem intent on opening a “second front” for Moscow from there. President Andrés Manuel López Obrador’s misguided bromides regarding Mexico’s so-called “neutrality,” “non-intervention,” and “the need to get along with all nations”; repeated criticism of U.S. and European Union aid to Ukraine (when lashing out against what he perceives as their “meddling” in Mexico’s domestic affairs); and refusing to present a common North American front with Canada and the United States regarding sanctions — even if largely symbolic — are deeply troubling. Kyiv’s ambassador to Mexico has publicly and continuously reiterated her request for full-fledged Mexican support for the Ukrainian government and people, to no avail. Read Article
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Canada, Europe and Great Britain |
Canada Proposes Foreign Buyers Home Real Estate Ban
BBC
Justin Trudeau has promised to address Canada’s soaring home prices.
Canadian Prime Minister Justin Trudeau has proposed a two-year ban on some foreigners buying homes. The measure comes as the country grapples with some of the worst housing affordability issues in the world.
Prices have jumped more than 20%, pushing the average home in Canada to nearly C$817,000 ($650,000; £495,000) – more than nine times household income. Read Article
France’s Election Shouldn’t Have Been This Close-How Macron Lost the Left
Brookings Institution – Foreign Affairs, Celia Belin
Not so long ago, the war in Ukraine appeared to have made French President Emmanuel Macron a shoo-in for a second term. Polls showed that a majority of French voters trusted him to handle the crisis, and two weeks after Russian President Vladimir Putin invaded Ukraine, Macron garnered support from 31 percent of voters surveyed compared with just 18 percent for Marine Le Pen, the far-right candidate who was in second place. The last time a French candidate enjoyed such a big lead in the run-up to a presidential election was more than three decades ago. Read Article
Trouble Is Brewing in Germany
Brookings Institution – Lawfare, Sam Denney
On March 20, Germany dropped the last of its “extensive protection measures” against the coronavirus and returned to a wary form of normality. But while Germany may have decided that it is done with the pandemic for now, the pandemic—or rather the societal damage it wrought—is certainly not done with Germany. Trouble is brewing on German streets.
Over the past two years, the heterogeneous protest group against Germany’s coronavirus restrictions known as the Querdenker movement—“Querdenker” roughly means one who thinks laterally or outside the box—has radicalized sharply. Violence has followed. Read Article
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Pakistan: Are Attacks on Chinese Workers Jeopardizing Beijing’s CPEC Projects?
DeutscheWelle
Beijing says it wants Islamabad to provide better security as workers on China's massive infrastructure projects become targets of militant Baloch separatists in southern Pakistan.
On Tuesday, a female suicide bomber attacked a minibus in the southern Pakistani city of Karachi, killing three Chinese nationals and their Pakistani driver.
The bombing was claimed by the so-called Baloch Liberation Army (BLA), a separatist group fighting for the independence of Pakistan's southwestern Balochistan province, which borders Iran and Afghanistan. Read Article
COVID: Beijing Residents Stock Up as City Braces for New Wave
DeutscheWelle
Residents of the Chinese capital rushed to stock up on food and supplies over the last two days, as dozens of new cases emerged in the city. Many fear a lockdown similar to what happened in Shanghai.
Mass test has already started in Beijing
As the lockdown in Shanghai enters its fourth week, China's capital Beijing is also bracing for a potential surge of COVID-19 cases, as authorities roll out a plan to test 90% of the city's 21 million residents, according to the state-run media outlet Global Times.
Starting from Tuesday, authorities are expected to carry out three rounds of testing across 11 districts in Beijing. Read Article
Has the West Found an Asian Geopolitical Ally in Singapore?
DeutscheWelle
For years, Singapore has been considered a skilled practitioner of hedging between the world's superpowers and not taking sides. Now it is one of the few Asian countries to openly condemn Russia's invasion of Ukraine.
Prime Minister Lee Hsien Loong said Singapore was the US' 'best friend' in Southeast Asia
Hours after Russian troops marched into Ukraine on February 24, Singapore's prime minister, Lee Hsien Loong, condemned the action as an "unprovoked invasion of a sovereign country." Read Article
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Asia, India and Australia |
Sri Lanka: Protests Near President’s House Turn Violent
DeutscheWelle
Angered by a worsening economic situation, thousands took to the streets of the capital Colombo. Here is a summary of what Sri Lankans have been going through.
Thousands of protesters gathered outside President Gotabaya Rajapaksa’s house in the capital Colombo Thursday night demanding his resignation. They blame the president for long power outages and lack of essential goods. Police used tear gas to scatter the crowd and arrested about 50 people. It was the latest development in Sri Lanka’s current economic crisis — its worst in decades. Read Article
How India is Pushing for the Return of Stolen Artifacts
DeutscheWelle
As the conversation around looted artifacts gains prominence across the world, India’s attempts to repatriate stolen heritage items are beginning to bear fruit.
Indian Prime Minister Narendra Modi inspected the artifacts repatriated from Australia in March
Indian Prime Minister Narendra Modi recently thanked Australia for returning 29 Indian-origin artifacts that hade been stripped from the South Asian country illegally. It’s the latest in a string of ancient artifacts that have been returned to India. Read Article
Pakistan’s Top Court Rules Against PM Imran Khan, Orders Parliament Restored
DeutscheWelle
Prime Minister Imran Khan had attempted to sidestep a no-confidence vote by dissolving Parliament. Pakistan’s top court has ordered the legislative body reconvene, putting Khan’s position into serious doubt.
The Pakistani prime minister is fighting for his political future
Pakistan’s Supreme Court on Thursday ruled that a move by Prime Minister Imran Khan to dissolve the country’s Parliament and thus avoid a no confidence vote was unconstitutional.
The court also ordered that Pakistan’s Parliament be restored and reconvene on April 9 in order to proceed with the no-confidence vote. Read Article
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Africa, Middle East, Eastern Europe and Russia |
When Bricks Were Rubles
NPR Planet Money – Dave Blanchard, Kenny Malone
When the USSR collapsed, the ruble tanked and items like bricks became a more desirable form of payment.
The post-Soviet economy became a laboratory for curious experiments in money. A barter economy briefly emerged. Then a gas-backed currency. All this in less than 10 years.
Today, what this strange, short period in Russia’s history can teach us about all currencies, and about what makes an economy and its money valuable. Read Transcript and Hear Podcast
Increasing Agricultural Productivity Across Sub-Saharan Africa is One of the Most Important Problems This Century
Our World in Data – Hannah Ritchie
Agricultural productivity across Sub-Saharan Africa needs to improve to reduce hunger, poverty, and the destruction of biodiversity.
To grow food you need two things: some land and some of your time. These two – land and labor – are two of agriculture’s ‘inputs’. To build a food system that works for people and the planet, humanity needs to achieve high productivity in both of them.
To escape poverty, farmers need to increase labor productivity – to produce more food per hour worked. It is a deep societal problem when most of the population works in farming and gets little money in return. The farmers’ families are unable to get a good education; improve healthcare; and to free up labor so that their children can become teachers or build new industries outside of agriculture. Read Article
Europe Looks to Africa to Fill Natural Gas Gap
DeutscheWelle
To move away from depending on Russian energy, Europe is increasingly turning to Africa for its natural gas imports. Though the potential is there, low supply and serious bottlenecks stand in the way.
Africa is endowed with vast natural gas reserves but lacks the infrastructure to export it.
Russia’s invasion of Ukraine is forcing Europe to diversify its energy supply. “Germany and Europe must now quickly make up for what they have missed over the last 20 years,” Stefan Liebing, chairperson of the German-African Business Association, said in a recent press release. He advised Germany’s Economy Minister Robert Habeck to travel to African countries such as Algeria, Nigeria, Egypt and Angola, which could help free Europe from its dependence on Russian gas. Read Article
Russia’s Invasion Leaves North Africa with a Food Crisis – What Can Europe Do?
Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) GmbH – ECDPM, Hanne Knaepen and Koen Dekeyser
Grain importing countries in North Africa must prepare for a food crisis due to the war in Ukraine. The past has shown that rising food prices, this time also combined with a strong rise in energy prices, are a precursor of instability and conflict. What can Europe do?
The pitfalls of food import dependency
Ukraine, ranking first in Europe in terms of arable land, is a global agricultural powerhouse. Together, Russia and Ukraine supply approximately 30% of globally traded wheat, and Ukraine accounts for 16% of global corn exports. Arab countries like Egypt, Tunisia and Algeria are heavily dependent on wheat coming from Ukraine. For instance, between 2009 and 2017, Tunisia’s cereal import dependency was more than 60 percent, with the bulk coming from Ukraine. Egypt, the world’s biggest wheat importer, buys up to 85% of its wheat from Russia and Ukraine and bread subsidies currently eat up 2% of the government’s budget. 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 © 2022 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!
© 2018-22 PTI Systems International, Inc.™
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"It would be better if everyone worked together as a system, with the aim for everybody to win."
American engineer, statistician,
professor, author, lecturer, and
management consultant
1900 - 1993
"No country, however rich, can afford the waste of its human resources. Demoralization caused by vast unemployment is our greatest extravagance. Morally, it is the greatest menace to our social order."
The only president elected president four times, Led the U. S. through two crises: the Great Depression and World War II.
1882 – 1945
“I didn't fail the test, I just found 100 ways to do it wrong.”
American printer and publisher, author, inventor and scientist, and diplomat. One of the foremost of the Founding Fathers, Franklin helped draft the Declaration of Independence
1706 – 1790
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U.S. Department of Commerce - Bureau of Economic Analysis |
U.S. International Trade in Goods and Services, February, 2022
The U.S. monthly international trade deficit decreased in February 2022 according to the U.S. Bureau of Economic Analysis and the U.S. Census Bureau. The deficit decreased less than $0.1 billion from January (revised) to $89.2 billion in February, as exports increased slightly more than imports. The previously published January deficit was $89.7 billion. The goods deficit decreased $1.1 billion in February to $107.5 billion. The services surplus decreased $1.1 billion in February to $18.3 billion. Read Report
U.S. International Transactions, Fourth Quarter and Year 2021
The U.S. current-account deficit narrowed by $2.0 billion, or 0.9 percent, to $217.9 billion in the fourth quarter of 2021, according to statistics released by the U.S. Bureau of Economic Analysis. The revised third-quarter deficit was $219.9 billion. The fourth-quarter deficit was 3.6 percent of current-dollar gross domestic product, down from 3.8 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
BEA Releases Prototype Trade in Value Added Statistics
These new prototype statistics can help answer questions such as: Read Release
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U.S. Department of Commerce - Bureau of the Census |
Monthly Wholesale Trade
February 2022 sales of merchant wholesalers were $675.8 billion, up 1.7 percent (+/- 0.4 percent) from last month. End-of-month inventories were $818.2 billion, up 2.5 percent (+/- 0.2 percent) from last month. February 2022: +2.5 % change in Inventories; January 2022 I: +1.2 % change in Inventories. Read Report
Manufacturing and Trade Inventory and Sales – February, 2022
U.S. total business end-of-month inventories for February 2022 were $2,270.3 billion, up 1.5 percent (+/- 0.1 percent) from last month. U.S. total business sales were $1,804.6 billion, up 1.0 percent (+/- 0.2 percent) from last month. February 2022: +1.5 % change in Inventories; January 2022 (r): +1.3 % 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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Trade Commission Hears from Detroit Workers Left Behind by Trade |
Coalition for a Prosperous America – Kenneth Rapoza
The International Trade Commission held a three-hour seminar on Wednesday about the impacts of global trade in Detroit, Michigan, and got an earful. Black workers, most of them members of steelworker unions in the Detroit area, said globalization has been “devastating” for many people they know.
Learning to code isn’t going to cut it. Giving state grants to college towns in Ann Arbor isn’t going to cut it. And moving to new jobs across state lines is easier said than done, especially for families.
Andrea Hunter, president of USW Local 1299 was one of a handful of people who spoke to ITC commissioners this week in its sixth hearing on the subject of trade impacts. Read Article
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Closed-Loop Systems Allow Chinese Plants to Operate During Lockdown |
Assembly Magazine
Pegatron Corp. continue to operate factories here during the city’s most-recent COVID-19 lockdown by isolating workers and running a closed-off procedure allowed by local authorities.
These manufacturers are running closed-loop systems where employees are able to keep working as long as they’re confined to the factory campus and adhere to certain COVID and testing protocols, the people said, asking not to be named discussing internal procedures. Production capacity, however, may still be affected to some degree due to disruptions to logistics and supply chains. Read Article
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WTO Trade Talks in Disarray Amid Ukraine Tensions – Sources |
Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) GmbH – Reuters, Emma Farge
Summary
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· Some negotiations delayed, others not scheduled
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· Disruptions come three months before key meeting
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· WTO close to ‘breaking point’ – trade lawyer
GENEVA, March 22 (Reuters) – Western countries are refusing to engage with Russia at the World Trade Organization (WTO) in Geneva in a coordinated move that has already led to negotiations seizing up across a number of sectors, trade sources told Reuters.
Russia’s invasion of Ukraine and the ensuing economic isolation as a result of Western sanctions are the latest setback to WTO efforts to restore rules-based trade against a tide of growing protectionism. Read Article
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The US Has an Opportunity to Lead on Aluminum |
IndustryWeek – Jeb Nadaner
China and Russia are among the top producers, and neither is a good source.
The ongoing crisis in Ukraine presents another reminder of America’s reliance on problematic sources for essential products and materials. We already are experiencing price hikes stemming from sanctions on many Russian companies and commodities. From passenger airplanes to kitchen appliances, aluminum is one of those foundational industrial materials that a modern society needs to function—in addition to being an essential component of many systems used by the U.S. military. Today, the global picture for aluminum is not promising overall—for American interests or values.
There is an opportunity for America to take a leading role in more cleanly produced aluminum as part of a long overdue revival of manufacturing. But only if our government is willing to pursue the right incentives and investments here at home.
Currently, the world’s top aluminum producer – at nearly 60% – is China, a highly polluting source because of its heavy reliance on coal for the electricity. China’s market dominance was largely achieved via illegal “dumping” practices that devastated the U.S. aluminum industry (now less than six primary smelters and 2 percent of the world total, down from more than 20 smelters and 30 percent of global production during the 1980s). Today, only one U.S. smelter can produce the high-purity aluminum used for critical infrastructure and military applications. Read Article
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Moving Production from China and Taiwan Matters More Than Ever |
IndustryWeek - Jon Gabrielsen
World events far more powerful than any industry trends can render all supply-chain microplanning moot.
Many who read this will wonder why it needs to be written. After all, wouldn’t it be obvious? But I have it on good authority from those in the supply-chain-sourcing trenches that most companies do not consider geopolitical risk when choosing countries to source from.
Successful companies spend a great deal of time and attention going into excruciating detail following all the microtrends within their own industries in order to identify opportunities as well as risk as they seek to grow their companies. And it is absolutely mission-critical that they do so.
But we must not lose sight of the bigger picture concurrently. Geopolitical and geoeconomic events that are far more powerful than any of the industry trends can render all the microplanning moot. The trouble is that most of us don’t foresee them: for instance, the financial meltdown, the coronavirus pandemic and even Russian’s invasion of Ukraine. Read Article
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Education And Workforce Development News |
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A Year Ago, School Districts Got a Windfall of Pandemic Aid. How’s That Going? |
Brookings Institution – Marguerite Roza, Research Professor; Director, Edunomics Lab – Georgetown University; Katherine Silberstein, Research Fellow, Edunomics Lab – Georgetown University
This month marks one year since Congress approved the largest-ever one-time investment in public education: ESSER III, as it’s known, averaged $2,400 per student. This latest round of money left the federal treasury at warp speed, with $80 billion out the door in less than two weeks.
From there, the aid went to state education agencies, where it sat. And sat. And nearly all of it still sits today. Districts were permitted to start spending funds almost immediately, and to submit for reimbursement from their state agencies as they did so.
But most districts still had funding from the prior 2020 aid packages, ESSER I and II. In the end, despite the urgency to get the money to districts, our analysis of federal tracker data indicates that just under 5% of ESSER III was spent as of Jan. 31, 2022—some 10 months after funds were disbursed. (While federal tracking systems can involve a lag, a comparison to a few states’ real-time e-grant systems indicates a delay of only a month or so.) Read Article
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Aligning Education Pathways to Jobs Skills Needed |
IndustryWeek - Adrienne Selko
"We design programs that are right-sized, based on industry needs in a modality that services the adult learner," says Eric Roe of National University.
Eric Roe always felt he would remain in the field he loved — manufacturing.
Beginning his career at Tropicana, and going to community college at night to earn advanced degrees, he envisioned a meaningful career in his chosen field. Roe had left college to extract juice samples at a Tropicana factory as part of their research and development team. He went on to earn his Ph.D. in Chemical Engineering at the University of South Florida.
But it seems as though fate had a different course for him. An opportunity to work with the University of South Florida and a couple of community colleges to develop workforce strategies was too tempting to pass up. Read Article
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Meeting Students’ Mental Health Needs |
Community College Daily News – Dennis Pierce
On the first day of spring classes, Joan Barrett was walking around the Ozarks Technical Community College (OTC) campus as usual, greeting students and making sure they knew where to go. It’s what Barrett, vice chancellor for student affairs at the Missouri college, does at the beginning of every academic term.
But this wasn’t an ordinary start to a semester.
During the course of the day, Barrett saw two separate students burst into tears when she said hello. Read Article
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Help Wanted at Community Colleges |
Community College Daily News – Ed Finkel
Like employers of many stripes, community colleges are facing their own challenges with the so-called Great Resignation, particularly in key faculty and staff roles like nursing instructors, financial aid counselors and custodians.
A research report released in the fall by the Society for Human Resources Management (SHRM), titled “Surviving the Great Resignation,” put the broader issue in stark relief, finding that nearly half of U.S. executives (49%) said their organizations had experienced higher turnover than usual in the previous six months, and an overwhelming majority (84%) said openings were going unfilled for longer periods than prior to the Covid-19 pandemic. Read Article
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5 Strategies to Prepare Your Online Programs for the Next Crisis |
Community College Daily News – Fred Lokken
Community colleges learned a great deal about the strengths as well as the needs of their online programs during the Covid pandemic. As we know, community colleges were much better prepared to pivot to fully online than universities. Since the inception of online learning in the 1990s, community colleges saw the potential of online instruction to greatly improve student access to higher education. Most community colleges were early adopters of this modality of instruction and committed to fully online instruction as a starting point.
By March 2020, online education was at least 25% of overall enrollment at community colleges – half of community college students indicated in national surveys that they had taken at least one online course. The good news in the data is that community college faculty, students and online programs had a stronger foundation to work from when forced to migrate instruction fully online. Community colleges had also heavily embraced fully online asynchronous learning which proved to be the most effective AND the preference for most students. Read Article
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Training And Organizational Development News |
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Culture Still Eats Strategy for Breakfast |
IndustryWeek – Ashleigh Walters
It took us years to move from top-down to people-centric management, but the journey was worth it.
Peter Drucker once said, “Culture eats strategy for breakfast.” Throughout my career, I have spent a lot of time in the strategy room. But no matter what we decided there, until we got the organizational culture right, we were unsuccessful in executing our goals.
So, I must agree with Mr. Drucker.
At Onex, we take pride in our organizational culture. It took us years to move away from traditional top-down management to a people-centric focus. That is not to say we are perfect, as we are continuously trying to improve. For 2022, our company’s wildly important goal is to improve our customers’ experience. If, as a team, we are firing on all cylinders, then the client will be happier. Read Article
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When Ideation Is a Waste of Time |
IndustryWeek - Renette Rier
Without a vision, the first step in the innovation process will be all over the place.
As an innovator, ideator and implementer, I trembled as I wrote that title. It’s blasphemy in our world. But it’s true! When ideation is done wrong, it’s simply a waste of time. In my 20 plus years in the innovation and strategy space, I have seen how ideation goes wrong and goes well.
Gone Wrong:
The commercial VP sends out a company-wide email. “From now on we will have a company-wide monthly ideation meeting. Bring your best idea and let’s discuss!” When this type of email is sent out, without any manager-led process to discuss new ideas and prepare to submit, no one contributes in the monthly meeting. Although there’s an opportunity to wow the leadership, the risk of “saying something dumb” is too great. Read Article
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Considering Alternative Credits Can Uncover Untapped Talent |
EHS Today Staff
A new SHRM study shows that almost half of U.S. workers have some form of alternative credential.
Workers are doing their part. To enhance their ability and demonstrate to employers that they are ready to work, 45% of the U.S. workforce has a type of alternative credential and the other half ( 49%) have considered earning one.
This is according to a new report, The Rise of Alternative Credentials in Hiring, from theSociety for Human Resource Management that was released on April 20.
While these credentials can bring value to the workplace there is a disconnect in that systems aren’t in a place that can easily identify an individual’s skills and talents as well as reluctance by employers to recognize a new way to validate these skills, says the report. Read Article
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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 |
APRIL
by Dean Prigelmeier, President of Proactive Technologies, Inc.
by Stacey Lett, Regional 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
MARCH
by Dean Prigelmeier, President of Proactive Technologies, Inc.
by Stacey Lett, Regional 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.
FEBRUARY
by Dean Prigelmeier, President of Proactive Technologies, Inc.
by Stacey Lett, Regional 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.
JANUARY
by Dean Prigelmeier, President of Proactive Technologies, Inc.
by Stacey Lett, Director of Operations – Eastern U.S. – Proactive Technologies, Inc.– Proactive Technologies, Inc.
Stacey Lett, Director of Operations – Eastern U.S. – Proactive Technologies, Inc.– Proactive Technologies, Inc.
by Dean Prigelmeier, President of Proactive Technologies, Inc.
DECEMBER
by Dean Prigelmeier, President of Proactive Technologies, Inc.
by Stacey Lett, Regional Manager – Eastern U.S., Proactive Technologies, Inc.
Proactive Technologies, Inc. – Staff
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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 © 2022 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 © 2019-22 Proactive Technologies, Inc.™ ALL RIGHTS RESERVED
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Eddy Current Inspection of In-Service Aircraft Structure |
Quality Magazine – George Hopman
Eddy current inspections are particularly sensitive to crack, corrosion, and other conductivity changes within electrically conductive alloys.
In production, every aircraft structure component will undergo inspection by one of the primary NDT methods. In-service aircraft will experience subsequent nondestructive testing, eddy current inspection being one the primary methods. This article serves to highlight the more common forms of eddy current applications on in-service aircraft.
With a few exceptions, general aviation aircraft are not pressurized at altitude. However, when business and commercial aircraft climb to altitude, e.g., 15,000 to 40,000 feet, the cabin is pressurized for passenger comfort. Since the pressure inside the cabin is greater than the outside, the fuselage will elongate and expand in diameter. When the aircraft lands and completes this flight cycle, the plane returns to its normal shape. This repetitive expansion and contraction eventually lead to metal fatigue and the possible initiation of cracks, whether it be fatigue cracking, stress corrosion cracking, or a stress rupture crack. Read Article
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Geometric Dimensioning and Tolerancing - QM 0422 Measurement GD&T |
Quality Magazine – Gregory S. Gay
Let’s review some of the elements of geometric dimensioning and tolerancing.
I teach a metrology lab for Western Michigan University junior and senior engineering students and have been using GD&T for over 30 years in manufacturing. For most students, measurement and GD&T is a new subject for them. I get the opportunity to review the basic concepts each year. The following is a review of some of the terms and concepts.
General Rules
There are five general rules.
Rule 1: When only a tolerance of size is specified that tolerance controls both size and form. Read Article
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Tesla Recalls Nearly 128,000 Cars in China Due to Defect |
IndustryWeek - Agence France-Presse
In December, Tesla recalled almost 200,000 vehicles from China over a trunk defect that increased the risk of collisions.
Tesla has recalled nearly 128,000 cars in China due to a fault that could "increase the risk of vehicle collision", the country's state market regulator said.
It is the latest hitch for the U.S. electric vehicle giant that is hugely popular in China, but has also faced complaints from consumers and been hit by COVID-19 lockdowns. Read Article
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Best Practices for Conveyor Maintenance |
Assembly Magazine - Jim Camillo, Senior Editor
Timely and proper maintenance is essential for all key conveyor components.
Despite its advanced capabilities, automation equipment used on assembly lines remains susceptible to failure. This presents manufacturers with the ongoing challenge of preventing unplanned equipment downtime, which is always disruptive and costly. One proven way that companies meet this challenge is through regular and proper maintenance, be it for a robot, a rotary or linear indexer, or a conveyor.
“Consistent and proper conveyor maintenance can be quite an investment, time-wise, for a company, especially if it operates several conveyors,” says Will Peters, applications and design engineer at mk North America Inc. “But, in the end, it will prove worth it. Well-maintained conveyors perform with precision and repeatability, resulting in more uptime. Without them, assembly, production, testing and shipping will quickly come to a screeching halt.” Read Article
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IndustryWeek - Rick Bohan, Ron Jacques
Lean reduces complexity, while automation can simplify or complicate operations.
Arguing that automation doesn’t provide value to manufacturers is like arguing that springtime is bad for farmers. No one, least of all the authors, would hold that there’s no room for well-implemented automation in operations. It can improve throughput, quality, and safety.
We don’t fully buy the “machines don’t take vacations” trope that so many managers like to glibly toss out: Did you ever see an employee surrounded by three engineers in the middle of the shift scratching their heads trying to figure out why the employee had simply stopped working on the part that had to be shipped that afternoon? On the other hand, we’ve both seen that automation can produce exceptional levels of accuracy and production volume with a high degree of repeatability. From robotic welding in body-in-white areas of an automotive assembly plant where the chassis of cars are transformed from raw stamped panels to a fully structured body ready for paint, to conveyor lines that coordinate with assembly steps, technology has evolved to the point where it can operate in a “lights out” environment and can be monitored remotely. It’s clear that automation can reduce waste, cycle times, and overall lead times while improving safety. Read Article
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Ultraviolet Light Can Clean N95 Masks for Reuse Without Hindering Performance, NIST Study Shows |
NIST
Researchers at NIST have discovered that, under specific conditions, UV can adequately disinfect masks without causing any unwanted alterations. The findings mark a key step toward the development of standard, science-backed UV disinfection methods that could be critical in the future if the PPE supply is low. Credit: NIST
To combat COVID-19 amid supply shortages in 2020, health care facilities across the U.S. resorted to disinfecting personal protective equipment (PPE), such as N95 masks, for reuse with methods such as ultraviolet (UV) light. But questions lingered about the safety and efficacy of these methods and how best to implement them. Read Article and See Video
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Microplastics, Fast Fashion and Saving the Bees: EHS Today's Sustainability News |
EHS Today - Nicole Stempak
It’s difficult to believe it’s already April! We’re having a moment where we simultaneously feel that time is whizzing by and also barely moving—the way we felt in high school when we eagerly awaited the final bell.
We’re looking at the month ahead and excited at all the celebrations. In recognition of some upcoming religious holidays, Happy Passover, Easter and Eid Mubarak for those who observe them. Here in the Great Lakes, we also look forward to the tradition of Dyngus Day. Bring on the paczki and pierogi!
We’re also looking forward to celebrating Earth Day. This year, we’re taking a hard look at our habits and daily routine and asking ourselves what we can do differently for the betterment of our planet. Read Article
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Methane Emissions Soared to a Record High in 2021 in an 'Alarming' Trend, NOAA Says |
USA Today - Doyle Rice
Atmospheric levels of carbon dioxide are now similar to where they were around 4.3 million years ago.
Methane is a powerful, heat-trapping greenhouse gas that’s the second-biggest contributor to human-caused global warming.
"Our data show that global emissions continue to move in the wrong direction at a rapid pace."
The level of methane in Earth's atmosphere surged to a record high for the second year in a row, scientists said Thursday.
The National Oceanic and Atmospheric Administration said the annual increase in atmospheric methane during 2021 was 17 parts per billion, the largest since measurements began in 1983. Read Article
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Shock Result in Particle Experiment Could Spark Physics Revolution |
BBC - Pallab Ghosh, Science Correspondent
The Fermilab Collider Detector obtained a result that could transform the current theory of physics
Scientists just outside Chicago have found that the mass of a sub-atomic particle is not what it should be.
The measurement is the first conclusive experimental result that is at odds with one of the most important and successful theories of modern physics.
The team has found that the particle, known as a W boson, is more massive than the theories predicted. Read Article
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How Did COVID-19 Affect Americans’ Well-being and Mental Health? |
Brookings Institution - Emily Dobson, Ph.D. Student - University of Maryland; Carol Graham, Leo Pasvolsky Senior Fellow and Research Director - Global Economy and Development; Tim Hua, Student - Middlebury College Former Intern - Global Economy and Development; Sergio Pinto, Doctoral Student, University of Maryland
COVID-19 has justifiably raised widespread public concern about mental health worldwide. In the U.S., the pandemic was an unprecedented shock to society at a time when the nation was already coping with a crisis of despair and related deaths from suicides, overdoses, and alcohol poisoning. Meanwhile, COVID-19’s impact was inequitable: Deaths were concentrated among the elderly and minorities working in essential jobs, groups who up to the pandemic had been reporting better mental health. We still do not fully understand how the shock has affected society’s well-being and mental health.
In a recent paper in which we compared trends in 2019-2020 using several nationally representative datasets, we found a variety of contrasting stories. Read Article
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Deadly Pathogens Can Hitch a Ride on Ocean Microplastics, Raising Alarm Bells |
USA Today - Elizabeth Weise
Anovel experiment in a veterinary lab found deadly pathogens could be catching a ride on microplastics washing out to sea, concentrating the bugs and potentially putting humans and animals like sea otters, seals and dolphins at risk.
The pathogens, toxoplasma gondii, cryptosporidium parvum and giardia enterica, end up in waterways when feces from infected animals contaminate the water.
In the study, published this week in the journal Scientific Reports, scientists at the University of California, Davis showed microplastics can provide a new way for these microorganisms to concentrate near coastlines and travel deep into the sea. Read Article
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Cyber Security And IT News |
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Tics and TikTok: Can Social Media Trigger Illness? |
Harvard Health Publishing - Robert H. Shmerling, MD, Senior Faculty Editor
A student suddenly develops leg pain and paralysis; soon hundreds of schoolmates have similar symptoms.
Nuns begin biting each other, and soon the same thing is happening at other nearby convents. Three schoolgirls begin laughing uncontrollably, sometimes going on for days. When nearly 100 classmates develop the same problem, the school is forced to close down.
Yet in each case, no medical explanation was ever found. Eventually, these came to be considered examples of mass sociogenic illness, which many of us know by different names: mass hysteria, epidemic hysteria, or mass psychogenic illness. Over the years, many possible sources for these illnesses have emerged — and today TikTok and other social media sites may be providing fertile ground. Read Article
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At the Crossroads of IT and Legacy OT, Hackers Await |
IndustryWeek - Manish Chawla
Nearly half of all attacks exploited this vulnerability, says an IBM study. How do manufacturers build resilience?
The shift from experimenting to seizing the benefits of Industry 4.0 has equipped manufacturers with the agility and resiliency to adapt to the challenges of the pandemic, enhanced operational efficiencies and improved worker safety and sustainability. However, greater integration between IT and legacy operational technology (OT) has also created a much greater “surface area” for cyber-attacks.
Last year, OT systems were at the center of cybercriminals’ target scope, according to a new IBM X-Force report, as more than one in three attacks observed were against organizations that have OT networks. Manufacturing—for the first time in years—eclipsed the financial services industry as the most attacked industry. Read Article
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A Blockchain Expert Explains How North Korea's $625 Million Crypto Hack Presents a New National Security Threat — and Why it Marks a Shift in the Global 'Digital Battlefield' |
MSN News – Market Insider, Phil Rosen
North Korea's huge crypto hack marks a new era in cybersecurity threats.
"If there was ever a doubt that hacks were not tied to national security, that's been resolved," a blockchain expert told Insider.
Ari Redbord of TRM broke down how the hack signifies the emergence of a new kind of cyber warfare. Read Article
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US Warns of Cyberthreat to Specific Industrial Machines |
IndustryWeek - Dennis Scimeca
The malware specifically looks for some models of Schneider Electric and OMRON PLCs.
A new joint Cybersecurity Advisory (CSA) from the United States government issued on Wednesday warns that advanced persistent threat (APT) actors (read: cybercriminals) have developed a way to gain full system access to multiple industrial control systems (ICS) and supervisory control and data acquisition devices (SCADA), targeting specific models of programmable logic controllers (PLCs) manufactured by Schneider Electric and OMRON.
Industrial cybersecurity firm Dragos is among the organizations that contributed to the CSA. "The initial targeting appears to be liquid natural gas and electric community specific," says Robert M. Lee, CEO at Dragos. "However, the nature of the malware is that it works in a wide variety of industrial controllers and systems. The malware initially targets Schneider Electric and Omron controllers, however there are not vulnerabilities specific to those product lines." Read Article
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Human Resource Management News |
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Low Pay, No Room for Advancement and Not Feeling Respected |
EHS Today
Those are the top three reasons people are leaving their jobs according a recent Pew survey.
It seems that every other day you read about why people are leaving their jobs. And there are a lot of has different theories.
So let's look at the most updated information, which is a survey, done Feb. 7-13 by Pew Research Center.
The top three reasons Americans quit their jobs last year are :
· Low Pay
· Lack of Opportunities for Advancement
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This Is the Red-Hot Center of the Tightest Job Market Since WWII |
Bloomberg - Shawn Donnan
In Indiana’s Hamilton County, companies are raising pay, improving benefits, and hiring inmates from the local jail.
In his 26 years as mayor of Carmel, Ind., the largest city in a county with deep Republican roots, Jim Brainard has overseen its transformation from a sleepy Indianapolis suburb into one of the fastest-growing communities in the country. The population has quintupled, to a little over 100,000, spurred by the relocation of corporate headquarters to the area and a residential construction boom that shows few signs of ending. Ask the staunch conservative what he thinks the top economic priorities should be nationally and you’ll get answers that are strikingly at odds with the GOP’s current agenda. The U.S., argues Brainard, needs looser immigration laws to attract more migrants and higher wages for low-income service workers. “Those are the two biggest challenges” for the American economy, he says. Read Article
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Helping Younger Workers Succeed |
EHS Today - Adrienne Selko
Ask this generation for their ideas, understand what is important to them and know failure is just part of the journey.
In an enlightening article from the Society for Human Resource Management Judy Panagakos, senior career coach and director of professional development at New York City-based Early Stage Careers, offered some advice on how to manage younger workers in a manner that would them become successful.
Let Them know Failure is OK
“The key to nurturing 20-something talent is to communicate a clear goal and let each employee determine the best way to accomplish it,” says Panagakos.
In an article in Harvard Business Review, they go even further identifying a leader as a “failure tolerant leader. Authors Richard Farson and Raphy Keyes, cite the example of Robert Shapiro, a well-known attorney who worked at Monsanto. Read Article
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Workforce Trends Leaders Need to Understand |
EHS Today Staff
Employees have a new "worth it" equation, says Microsoft survey.
Trying to keep up with what employees are thinking and doing these days is difficult. So Microsoft conducted a very large study – 31,000 people in 131 countries – and came to a few conclusions, in their Work Trends Index 2022.
Employees have a new "worth it" equation.
Priorities have changed since the pandemic and so it’s not surprising In our study, 47% of respondents say they are more likely to put family and personal life over work than they were before the pandemic. In addition, 53%—particularly parents (55%) and women (56%)—say they’re more likely to prioritize their health and wellbeing over work than before. Read Article
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Environmental, Health & Safety News |
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Workplace Safety More Important Than Ever for Employed Americans |
EHS Today - Staff
Only half (55%) of working Americans feel their employer has made more of an effort to ensure their safety than in previous years.
Not surprisingly, 90% of American workers believe their organization has a duty of care—a legal and moral obligation—to protect employees from unnecessary risk of harm when working or traveling on their behalf.
This is according to a new study, State of Employee Safety Report, from AlertMedia details employees’ current perceptions of safety in the workplace. The study also found that 82% of employees stated employers’ obligation to keep employees safe extends to those working remotely. Read Article
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4 Reasons Why You Should Dig Out Your Emergency Response Plan |
EHS Today - Danielle Myers
No matter the weather, keep your employees safe by planning for disaster.
The beginning of spring might feel too soon to begin preparing for next winter. But with memories of snowstorms fresh in your mind, now is the perfect time to review your emergency response plans. Preparing emergency response plans ahead of time also means you’ll be ready when snow, tornadoes, hurricanes, wildfires, drought or other types of severe weather hit.
Emergency preparedness is one of the most important things a company can invest in. When an emergency happens, being prepared can be the difference between the loss of money, time, and—most importantly—the safety of your staff. Thanks to advances in technology, companies can implement platforms and tools that can help them prepare for anything from inclement weather to a dangerous intruder. Read Article
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The ROI of Safety: Making the Business Case for Safety and Health |
EHS Today - Sandy Smith
Workplace safety is an issue businesses can manage and control, if they have the right tools to measure the economic impact of occupational injuries and illnesses.
The road to workplace safety and health regulations is long and twisty. Millions of workers through the years have died as a result of injuries and illnesses caused by their work or workplace—caused, in fact, by employers who perceive safety as a cost center and workers as an easily replaced commodity.
Joseph J. Spengler, in his 1968 article, “The Economics of Safety,” asked, “How [can] an optimal balance … be achieved between the value of varying degrees of safety and the cost of providing these degrees?” and “How [can] combinations of rewards and penalties … give rise to a degree of safety that is neither excessive nor deficient but optimal in the sense that its value and cost are in balance?” Read Article
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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 © 2019-22 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 © 2019-22 Proactive Technologies, Inc.™
ALL RIGHTS RESERVED
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Copyright © 1988 - 2022 Proactive Technologies, Inc.TM
ALL RIGHTS RESERVED
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