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News from Worker Development, Industry, the Economy, Education, Science, and much more! |
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Is "Better Marketing" the Solution to Employer's Apathy Toward Worker Training? |
by Dean Prigelmeier, President of Proactive Technologies, Inc.
Sometimes taking marketing efforts and spending up a notch is the answer to sagging sales. Sometimes it is just more money spent proving the customer doesn't want what you are selling. This could be a temporary or protracted limbo. Either way, it is a good time to take an introspective look at the products/services being marketed, the message, and the state of the target customer.
In the last few decades, marketing platforms were created with the sole purpose of positioning themselves and their platform's clients, deeper into the consumer's psyche and life. It seems, in many cases, marketers bombard consumers with personalized content in the hope that they will be worn down and pushed to a buy decision. It must be successful, since most consumers feel personal privacy is no longer a thing and complaining about isn't worth the time while consumption continues at a relatively strong pace - even if purchases are on credit.
However, marketing efforts can over-do it and erode a brand's credibility. How many people have gazed at the "fun size" candy bar that looks smaller than the last one bought? Or the "party size" bag of potato chips - smaller bag and half filled with air? Or felt inundated with reward offers from even the liquor store, or credit card offers of reward points which seem difficult to use and paid for with 28% interest rates on purchases? While still effective as choices seem to be shrinking, this hyper-marketing could be driving a cynical society even more so.
Do these types of marketing strategies work when it comes to workforce development services, worker training programs, continuous education courses and credentialling? Consumer marketing works on a principal of mass dissemination, relying on enough consumers who see their option is either between product or service providers if a choice is still available, or between the purchase and not and the possible "peer shaming" to follow. This can justify the enormous expenditures when a consumer's choices are not good. Workforce development product/service decisions are more employer-specific and situational at a minimum, with buy/no-buy decision-making more complex and, often, random. Read More
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Have Advances in Technology Distracted HR From the Fundamentals of Worker Selection and Development? |
by Stacey Lett, Director of Operations - Eastern U.S. - Proactive Technologies, Inc.
Billions of investment dollars are driving the advancements in technology into every corner of our lives, including the selection and development of workers. Predictably, the emphasis often seems more on the technology and the money it can make for investors than the practicality for the end-user or those it effects.
It is not just the refrigerators that talk to your grocery store, or watches that talk to the phone in your pocket. Wall Street, with an accumulating mountain of cash, can drive any idea to fabricate a “trend” that often dissipates as quickly as it emerges, sometimes leaving disruption in the wake but yields a return for investors. For investors it is the means to an end. To many, it may negatively affect their life and their future.
In the 1990’s, investors started to look at the National Security Agency’s and Central Intelligence Agency’s “ key-word search” capabilities used to scan millions of documents from around the world for specific words and phrases to expand their intelligence gathering reach. They saw applications of this technology in the civilian world, including scanning the mounds of resumes and employment applications employers had to filter in order to find a few new-hires. On the surface, this seemed to be a godsend.
Soon employers and employment candidates saw what the developers of this technology did not. The technology first had to count on employers having accurately designed job descriptions in consistent formats, using standardized terms, words and phrases to describe pre-hire knowledge, experience, skills and abilities of interest. The fact was reality couldn’t have been farther from this, with job descriptions written 50 years prior, written precisely for someone the employer wanted to hire (not so reflective of the actual job requirements), or cut & pasted from a handy library resource. Read More
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Employers: Maximize Worker Development by Better Utilizing Local Resources |
by Frank Gibson, Workforce Development Advisor, retired from The Ohio State University – Alber Enterprise Center
Every year millions upon millions of state-provided worker development aid is either not utilized or not utilized efficiently and effectively. It represents a frustrating, protracted stalemate between employers who are not sure what skills they need in employees and what to do to maximize an employee’s core skills once employed, and educational institutions that lack the current, accurate and stable (i.e. targeted skills that won’t be changed in 6-months as the next Wall Street hype emerges) workforce needs data to design better products and services for employers.
The current state of workforce development is frustrating from everyone’s standpoint; employers who seem to go through workers like they are changing clothes, employees and potential employees who have given up turning to education for help in developing skills for a long-term career opportunity that pays for the education and can sustain a family, and who skip from job-to-job to find the best opportunity/compensation mix, and workforce development agencies that have the funding resources to support credible projects but are disappointed when employers bail in the middle of a project that seems to be working.
Short-term thinking has progressively eroded the effectiveness of worker development models around the country. Fundamental to any good worker development project is an accurate target upon which to build an accurate and effective worker development model. Someone has to take the lead to organize the uncertainty into clarity, so whatever is done feeds a purpose in a deliberate strategy. Drifting for decades is as toxic to a trainee’s or worker’s optimism and mental health, as it is an employer’s sustained success. Read More
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Appreciating the Value of Labor |
by Dean Prigelmeier, President of Proactive Technologies, Inc.
For businesses that have the capital for the investment in new equipment or processes to expand and improve operations, in an effort to become or remain competitive, the level of investment is not as important as the return on that investment. This consistent practice of determining where to best place capital for the highest return should apply to labor, as well. What is “paid” for labor is not as relevant as the value it adds to the operation and, ultimately, profit; the return on worker investment.
The lack of appreciation for the difference between a “training cost” and a "training investment” is understandable because it is rarely contrasted. The college textbook entitled Financial Accounting: An Introduction to Concepts, Methods and Uses, defines “direct labor cost” as the “Cost of labor (material) applied and assigned directly to a product; contrast this with indirect labor cost.” Indirect labor cost” is defined as, “An indirect cost of labor (material) such as supervisors (supplies).” There is no mention of an expected return on investment. Generations of cost accountants have been taught that there is no good that comes for higher labor costs, which to them is determined by the level of staffing and wage levels. There is no differentiation between strategic labor costs and uncontrolled labor costs.
The profit from, and value of, most worker’s labor comes from task-based work, so all inputs that drive workers to high-performance, high-capacity output are investments.
As discussed in many articles in past issues of the Proactive Technologies Report, although labor costs are considered direct costs from an accounting standpoint, they should be more importantly considered as an investment in the operation’s overall level of competitiveness. Operations may vary as to the level of return on investment from labor, but each worker’s cumulative expertise gained while employed becomes an asset to the operation akin to intellectual property and, therefore, wages and compensation paid to develop a worker are an investment. Read More
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Proactive Technologies, Inc. and its staff welcomes Contitech – a Continental company named, once again, as one of America’s Best Large Employers for 2023 by Forbes magazine. This is the seventh time Continental has been named to this esteemed list for its efforts in supporting the employee experience.
ContiTech develops, manufactures and markets products, systems and intelligent components made of rubber, plastic, metal and fabric. They are used in machine and plant engineering, mining, agriculture, the automotive industry and other important sectors of the future.
“To be recognized again among America’s best large employers reinforces our dedication to employees through career development opportunities, commitment to inclusion, and a flexible work-life balance,” said Grace Hu, U.S, Head of Human Relations, Continental. “Emphasis on an employee-centric culture has never been more paramount to business success. Continental is proud of the workplace culture they have fostered and the talented teams that have flourished as a result.
Steven Brinkman, Head of Human Resources – Sun Prairie, WI LDPC & Global Compliance Ambassador is bringing... Read More
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IN THIS ISSUE:
Proactive Technologies, Inc. Worker Development News
Industry News
Financial News
Economic News
International News
International Trade News
Education and Workforce Development News
Training and Organizational Development News
Quality News
Science
Cyber and IT News
Human Resources Management News
Environmental, Health & Safety News
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Proactive Technologies, Inc.™ -
capturing worker expertise to build and support job specific, task-based worker development programs (with metric-based solutions) since 1986.
Experience the power of the
Develop all the expert workers you need in a fraction of the time, with a fraction of the investment! Increased worker capacity, work quality and quantity, and worker compliance (ISO9001:2015, AS9100D, IATF16949, engineering and quality specifications, and safety requirements)."
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Free - Live Online Presentation Schedule
If interested in attending one of the presentations below, click on the title, then select a date/time and press "Send." An online presentation invitation and link will be sent to you. On the date and time of the event, just click on link in email invitation and it will connect you to the presentation. No special equipment required.
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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:
August, 2023
Proactive Technologies is currently scheduling stops in the following areas:
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FLORIDA
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KANSAS – I-70 Corridor, Wichita
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ONLINE VIDEO PRESENTATIONS -If you are interested in attending one of our regularly scheduled videoconferences, select from the schedule above or visit our website and select a videoconference from the calendar. An email invitation will be sent to you confirming your selection. This videoconference will be to your computer and no other equipment is required. This can be followed by an onsite presentation, at your request.
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, Second Quarter 2023
Real gross domestic product (GDP) increased at an annual rate of 2.4 percent in the second quarter of 2023, according to the "advance" estimate. In the first quarter, real GDP increased 2.0 percent. The increase in the second quarter primarily reflected increases in consumer spending and business investment that were partly offset by a decrease in exports. Imports, which are a subtraction in the calculation of GDP, decreased. Read Report
Personal Income and Outlays, May 2023
Personal income increased $91.2 billion (0.4 percent at a monthly rate) in May, according to estimates released today by the Bureau of Economic Analysis (table 3 and table 5). Disposable personal income (DPI), personal income less personal current taxes, increased $86.7 billion (0.4 percent) and personal consumption expenditures (PCE) increased $18.9 billion (0.1 percent).
The PCE price index increased 0.1 percent. Excluding food and energy, the PCE price index increased 0.3 percent (table 9). Real DPI increased 0.3 percent in May and real PCE decreased by less than 0.1 percent; goods decreased 0.4 percent and services increased 0.2 percent (tables 5 and 7). Read Article
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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 June, up four consecutive months, increased $13.6 billion or 4.7 percent to $302.5 billion. June 2023: +4.7° % Change; May 2023 (r): +2.0° % Change. Read Report
Manufacturers’ Shipments, Inventories, and Orders
New orders for manufactured goods in May, up five of the last six months, increased $1.6 billion or 0.3 percent to $578.0 billion. May 2023: +0.3° % Change; April 2023 (r): +0.3° % Change. Read Report
Manufacturing and Trade Inventory and Sales
U.S. total business end-of-month inventories for May 2023 were $2,545.8 billion, up 0.2 percent (+/- 0.1 percent) from last month. U.S. total business sales were $1,822.1 billion, up 0.2 percent (+/- 0.2 percent)* from last month. May 2023: +0.2 % Change in Inventories; April 2023 (r): +0.1* % Change in Inventories. 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 June, the Consumer Price Index for All Urban Consumers increased 0.2 percent, seasonally adjusted, and rose 3.0 percent over the last 12 months, not seasonally adjusted. The index for all items less food and energy increased 0.2 percent in June (SA); up 4.8 percent over the year (NSA) Read Report
Producer Price Index
US Bureau of Labor Statistics
The Producer Price Index for final demand increased 0.1 percent in June. Prices for final demand services rose 0.2 percent, and the index for final demand goods was unchanged. Prices for final demand advanced 0.1 percent for the 12 months ended in June. Read Report
Job Openings and Labor Turnover
The number of job openings decreased to 9.8 million on the last business day of May, the U.S. Bureau
of Labor Statistics reported today. Over the month, the number of hires and total separations were little
changed at 6.2 million and 5.9 million, respectively. Within separations, quits (4.0 million) increased,
while layoffs and discharges (1.6 million) changed little. This release includes estimates of the number
and rate of job openings, hires, and separations for the total nonfarm sector, by industry, and by
establishment size class.
Job Openings
On the last business day of May, the number of job openings decreased to 9.8 million (-496,000),
following an increase in April. In May, the job openings rate declined by 0.3 percentage point to 5.9
percent, offsetting an increase of the same magnitude in the prior month. Read Report
Unemployment Rate for States
Unemployment Rates for States, Seasonally Adjusted. Read Report
Civilian Labor Participation Rate
For a 20 year chart of the U.S. Civilian Labor Participation Rate. Read Report
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U.S. Private Sector Job Quality Index |
University of Buffalo - School of Management
The U.S. Private Sector Job Quality Index (JQI) assesses job quality in the United States by measuring desirable higher-wage/higher-hour jobs versus lower-wage/lower-hour jobs. The JQI results also may serve as a proxy for the overall health of the U.S. jobs market, since the index enables month-by-month tracking of the direction and degree of change in high-to-low job composition.
By tracking this information, policymakers and financial market participants can be more fully informed of past developments, current trends, and likely future developments in the absence of policy intervention. Economists and international organizations have in recent years developed other, complementary conceptions of job quality such as those addressing the emotional satisfaction employees derive from their jobs.
For the purposes of this JQI, “job quality” means the weekly dollar-income a job generates for an employee. Payment, after all, is a primary reason why people work: the income generated by a job being necessary to maintain a standard of living, to provide for the essentials of life and, hopefully, to save for retirement, among other things. Read Report
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Realtime Inequality - Who Benefits from Income and Wealth Growth in the United States? |
University of California, Berkeley - Thomas Blanchet, Emmanuel Saez, Gabriel Zucman; Department of Economics
Realtime Inequality provides the first timely statistics on how economic growth is distributed across groups. When new growth numbers come out each quarter, we show how each income and wealth group benefits. Controlling for price inflation, average national income per adult in the United States increased at an annualized rate of 2.2% in the first quarter of 2023, and average income for the bottom 50% grew by 1.5%. National income is similar to GDP and a better indicator of income earned by US residents. Visit the Methodology page for complete methodological details. Review Data
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Job Quality Index Rises as Hiring in Construction and Manufacturing Increases |
Coalition for a Prosperous America
WASHINGTON — The Coalition for a Prosperous America (CPA) today announced that the U.S. Private Sector Job Quality Index (JQI) for May was 85.47, up 0.83% from April. The JQI reached its highest level in over a decade and has increased the last seven consecutive months after accounting for revisions to recent months. While job growth is slowing, there has been strong growth of high-quality relative to low-quality jobs in the economy.
The average weekly wage for production and nonsupervisory workers in May was $971.25, up 0.2% from April. Wage growth over the last twelve months was 3.9% for production and non-supervisory workers, slightly below the 4.0% rate of annual consumer price inflation for May.
Hiring in goods-producing industries was strong and accounted for 19% of private-sector hiring, up from 9% in the previous month. The construction industry added 23,000. Construction of both manufacturing facilities and multifamily housing is booming, and the industry continues to hire at a strong pace. Furthermore, the construction boom and investment in domestic manufacturing will lead to future employment in the manufacturing industry. The manufacturing industry added 7,000 jobs in June. Read Article
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Can Manufacturers Provide Too Much Customer Value? |
IndustryWeek - Rick Bohan and Ron Jacques
The practice of ‘gold-plating’ is problematic when it’s used as a cover for poorly controlled processes.
Two years ago, we wrote an article that pointed to maximizing customer value as the most important goal of any lean initiative. We decried the proliferation of “lean goals” espoused by many practitioners and advocated for attending to just one: improving the value delivered to the customer.
In a recent conversation, though, we discussed whether or not manufacturers can provide too much value to customers. We’re not the first to consider this issue, of course. The concept of “gold-plating,” the addition of work or features that the client didn’t request, has been familiar to project managers for a long time. Read Article
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EV Start-Up Lordstown Files for Chapter 11 Bankruptcy |
IndustryWeek - Jennifer Ramsay
The company is also suing its former partner Foxconn for breach of contract.
After a troubled year, Lordstown Motors filed for Chapter 11 bankruptcy on Tuesday, putting itself up for sale. The filing came two months after it posted a going concern notice as a result of a deal falling through with Taiwanese tech company Foxconn. Now, Lordstown is suing it for fraud and breach of contract.
The partnership began in 2021 when Foxconn purchased Lordstown's Ohio-based factory, formerly owned by General Motors, for $230 million to build Lordstown flagship vehicle, the Endurance pickup. Production of the vehicle was suspended in January as supply chain issues made manufacturing costs exceed the truck’s $65,000 sale price.
In November, Foxconn announced its plan to agree to invest $170 million into the truck company. However, when Lordstown stock fell below $1 in March of this year and was in danger of being delisted, Foxconn began to renege on the deal unless it regained its listing status. Read Article
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Continental Awarded Tier 1 Supplier of the Year |
Continental
AUBURN HILLS, Mich., June 22, 2023 – Technology company Continental was named the 2023 Tier 1 Supplier of the Year from Informa Tech. The Informa Tech Awards, previously known as TU-Automotive Awards, returned to Detroit on June 6 celebrating the achievements of leading individuals and companies in the automotive industry.
The winners were selected on various criteria set forth by an independent judging panel. Listed under the company category, Tier 1 Supplier of the Year award, Continental represents the industry’s highest performing supplier.
“It is a great honor to be selected as the Tier 1 Supplier of the Year,” said Aruna Anand, CEO and President, Continental Automotive, North America. “We are constantly working to achieve the highest standards for the future of mobility, and this cannot be achieved without an excellent and cohesive team.” Read Release
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VSK Energy Plans Brighton, Colorado, PV Module Manufacturing Facility |
Area Development - News Desk
VSK Energy Inc., a new joint venture developing a vertically integrated solar manufacturing operation, plans to establish operations in Brighton, Colorado. The $250 million project is expected to create 900 jobs.
The new solar photovoltaic (PV) module manufacturing facility will be located at the 76 Commerce Center. The company has a second factory planned for the Southern U.S. Read Article
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Fears Over AI and Job Layoffs are Driving Tech Execs to Drugs and Drinking |
Tech Spot - Rob Thubron
45% of tech executives use painkillers such as OxyContin. Fears over AI and job layoffs are driving tech execs to drugs and drinking.
In brief: It's no secret that the tech industry is one of the best-paying sectors in the job market, but with that lucrative paycheck comes fear of being laid off, long hours, and extreme pressures, and it's turning many executives to drink and drugs.
A survey of 500 tech execs (management level or above) by health company All Points North (APN) shows leaders are increasingly depressed and anxious about their future, and as such are turning to substance misuse and prescription drugs as coping mechanisms.
The tech industry has seen tens of thousands of people laid off this year as a result of the shaky economy and overhiring during the pandemic. Amazon alone has laid off over 20,000 workers. Read Article
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Assembly Magazine - Austin Weber, Senior Editor
Domestic production is thriving in sectors eager to avoid supply chain disruptions.
Many consumer goods are still made in the United States, including brushes, flashlights, jewelry, lighters, knives, markers, padlocks, pens, razors, scissors and watches. Those items are typically found in traditional brick-and-mortar stores such as Ace, Home Depot, Kroger, Staples, Target, Walgreens and Wal-Mart, as well as Amazon and other online websites.
Supply chain lessons learned during the coronavirus pandemic have spurred demand for products labeled “Made in USA.” In fact, the Alliance of American Manufacturing (AAM) claims that 75 percent of American consumers would prefer to purchase items that are made in the United States. However, one-third say they rarely or never see America-made products while shopping. Read Article
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Tesla Rolls Out its First Electric Pickup, the Cybertruck |
IndustryWeek - Agence France-Presse
Tesla will be making three models of the Cybertruck, a vehicle that can accelerate from zero to 60 miles per hour in less than three seconds.
U.S. automaker Tesla on Saturday announced that its first electric pickup -- a slick-looking silver Cybertruck -- had rolled off the assembly line at its huge plant near Austin, Texas.
"First Cybertruck built at Giga Texas!" says a tweet from the company, accompanied by a photo of the futuristic vehicle amid a sea of helmeted and yellow-vested Tesla workers. Read Article
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Elon Musk Launches AI Startup xAI, As He Looks to Take on OpenAI's Dominant Chatbot ChatGPT |
ABC News Australia
Elon Musk, the billionaire entrepreneur, launched his long-teased artificial intelligence startup on Wednesday, hoping to challenge the dominance of his former company OpenAI's chatbot, ChatGPT.
Key points
- Elon Musk's xAI startup will include big names from Google and Microsoft
- The company will be separate from Mr Musk's X Corp, but will work closely with Twitter, Tesla and other companies.
- Mr Musk has repeatedly warned of the risks of AI, going so far as to call for its development to be paused for six months.
- The startup, called xAI, will be led by Mr Musk, who is already the CEO of electric car maker Tesla, CEO of rocket launch company SpaceX and owner of Twitter.
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He has also repeatedly voiced concerns about AI's potential for "civilisational destruction", saying on several occasions that its development should be paused and that the sector needs regulation. Read Article
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Sustainability, and Other Tall Tales |
IndustryWeek - Stephan Liozu
Investors, customers and regulators have clued in to greenwashing and are stepping up enforcement.
The era of making fake and false sustainability claims is over. Consumers, NGOs, investors, and regulators are watching closely and are holding businesses accountable. Think twice before making sustainability claims. Do what you say and say what you do. The number of greenwashing lawsuits have exploded for the past five years. A 2020 report by Foley and Lardner reported a doubling of greenwashing lawsuits in the oil and gas industry in just 5 years.
Lawsuits are public and at times very costly. They touch all sectors across all geographies. Let us look at some examples. Read Article
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Classes alone will not close the "skills gap," but structured on-the-job training can...every time! |
Under-capacity of workers is an enormous source of untapped value and unrealized return on worker investment. In addition, standardizing expert task performance -between workers and shifts - can add to worker ROI through lower scrap and rework.
- Increased worker capacity, productivity, work quantity, work quality and compliance (specifications, ISO/AS/IATF programs and safety mandates);
- Decreased internal costs of training
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Higher return on worker investment! You would be surprised how small of an investment is needed to unlock enormous returns.
If budgets are tight, Proactive Technologies, Inc. can be an extension to your training department, with our technical implementation support - included with every project!
There's nothing to lose by taking a minute to contact us to learn more. Copyright © 2019-23 Proactive Technologies, Inc.™
ALL RIGHTS RESERVED
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Core Skill Development and Enhancement |
- Skill, Knowledge and Behavioral Assessments
- Intro and Advanced Blueprint Reading Courses Geometric Dimensioning and Tolerancing
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Copyright © 2019-23 Lifetime Learning
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If your institution is interested in becoming a Proactive Technologies, Inc. project partner, contact a representative for more information. |
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PBGC Approves Supplemented SFA Applications |
Pension Benefit Guaranty Corporation
The Pension Benefit Guaranty Corporation (PBGC) announced that it has approved the application submitted to the Special Financial Assistance (SFA) Program:
Bricklayers and Allied Craftsmen Local 7 Pension Plan (Bricklayers Local 7 Plan). The plan, based in Akron, Ohio, covers 397 participants in the construction industry Read Release
Composition Roofers Local 42 Pension Plan (Roofers Local 42 Plan). The plan, based in Cincinnati, Ohio, covers 495 participants in the construction industry. Read Release
PBGC Approves SFA Application for PACE Industry Plan - PACE Industry Plan Averts Insolvency and Reduction of Benefits Through Receipt of Special Financial Assistance. Read Release
PBGC Approves SFA Application for IBEW Local 237 Plan - IBEW Local 237 Plan Will Restore Benefits Through Receipt of Special Financial Assistance. Read Release
PBGC Approves SFA Application for National Integrated Group Plan - National Integrated Group Plan Averts Insolvency and Reduction of Benefits Through Receipt of Special Financial Assistance. Read Release
PBGC Approves SFA Application for Automotive Industries Plan - Automotive Industries Plan Averts Insolvency and Reduction of Benefits Through Receipt of Special Financial Assistance. Read Release
PBGC Approves SFA Application for Retail Clerks Plan - Retail Clerks Plan Averts Insolvency and Reduction of Benefits Through Receipt of Special Financial Assistance. Read Release
PBGC Approves Supplemented SFA Application for Western Pennsylvania Teamsters Plan - Read Release
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SEC Charges Former View CFO with Negligence-based Fraud |
CFO Dive - Grace Noto, Reporter
Dive Brief:
- The Securities and Exchange Commission announced charges against Vidul Prakash, the former CFO of California smart window manufacturer View, for failing to ensure that the company’s warranty liabilities were properly disclosed, the SEC said in a press release Monday.
- The SEC settled charges against the company for failing to disclose $28 million in warranty liabilities to address a defect in its windows, it said Monday. View was not charged with civil penalties as it self-reported the misconduct and undertook remedial measures and did not confirm or deny the SEC’s charges, but agreed to cease and desist from future violations of the charged securities laws, the SEC said.
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The complaint against Prakash, filed in the U.S. District Court for the Northern District of California, charges the former CFO with “violating negligence-based antifraud, proxy disclosure, and books and records provisions of the federal securities laws and seeks permanent injunctions, civil penalties, and an officer and director bar,” according to the Monday release. Read Article
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CFOs Stuck Between Short-term Costs, Long-term Goals: EY |
CFO Dive - Grace Noto, Reporter
Dive Brief:
- CFOs grappling with economic headwinds are stuck between prioritizing short-term costs and long-term gains, a survey released Wednesday by Big Four accounting firm Ernst & Young found. Seventy-six percent of CFOs say the macro environment is putting pressure on them to hit short-term earnings targets, with 50% saying they are achieving this by reducing funding for areas they view as long-term priorities — areas which include ESG, technology, and talent and culture.
- Balancing short-term and long-term performance is also leading to some strain within the C-suite, with 67% of financial leaders acknowledging there are “tensions and disagreements” within the leadership team on how to do so.
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This is “translating into a lack of clarity in what gets reported, which then gives investors concerns, which (in turn) puts more pressure” on CFOs and the leadership team, said Myles Corson, global strategy and markets leader, financial accounting advisory services for EY. Read Article
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Best Way to Pay Off Student Loans? Prepare. Here's What You Should (and Shouldn't) Do. |
USA Today - Medora Lee
There are only a few short months before student loan payments resume, but no need to panic. Borrowers have a lot of options to minimize the impact on their budgets.
The Supreme Court struck down President Joe Biden’s student debt forgiveness plan, which would have canceled $10,000 in federal student loans, including Parent Plus loans, for those earning less than $125,000 or households with less than $250,000 in income. Pell Grant recipients, who typically demonstrate more financial need, would get an additional $10,000 in debt forgiven.
The same day, the Department of Education finalized “the most affordable repayment plan ever created,” the White House said, giving borrowers new options to reduce their monthly payments. Here, we’ll explain the new repayment plan as well as provide you with some other options to prepare. Read Article
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Second Wave Of Banking Crisis Incoming, Crash Could Be Worse Than 2008 Global Financial Crisis, Says Expert |
Benzinga - Bibhu Pattnaik, Benzinga Staff Writer
ZINGER KEY POINTS
- Gammon said stats from Federal Reserve Economic Data signal that the banking crisis is far from over.
- When troubled banks need liquidity, their first option is going to be the marketplace, the expert said.
- Macroeconomic expert George Gammon says that a significant rise in bank borrowing from the Federal Home Loan Bank (FHLB) system and the recently established Bank Term Funding Program (BTFP) is compelling evidence of another potential wave of banking failures.
- In a YouTube video on Thursday, Gammon said the latest numbers from the Federal Reserve Economic Data (FRED) system, which show sharp and ongoing rises in borrowing from the FHLB and BTFP, signal that the banking crisis is far from over.
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"We know that the banking crisis is far from over because the chart of the advances of the FHLB is still extremely high and going even higher. We can also combine this with the BTFP being extremely high, and it hasn't come down yet," he said. Read Article
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Shaky Economy Drives Workers to Dip Into Retirement Accounts |
HR Dive - Ginger Christ, Reporter
Forty-one percent of workers expect future generations to struggle more in retirement, a recent survey found.
Dive Brief:
- Thirty-seven percent of workers are turning to their retirement accounts to help cover costs during financial emergencies, debt, household expenses and medical bills, among other bills, according to survey results released Thursday by Transamerica Center for Retirement Studies, a not-for-profit focused on retirement education and a division of Transamerica Institute.
- Generation Z was the most likely generational cohort (28%) to dip into their 401(k) or IRA, followed by millennials (24%), Generation X (19%) and baby boomers (12%).
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“The pandemic and turbulent economy have taken a toll on workers’ employment, finances, and retirement preparations. Without additional support from policymakers and employers, it will be extremely difficult for many workers to recover,” Catherine Collinson, CEO and president of Transamerica Institute and Transamerica Center for Retirement Studies, said in the release. Read Article
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Business Bankruptcies Pick Up Again |
CFO Dive - Maura Webber Sadovi, Senior Editor
Dive Brief:
- The total number of U.S. commercial bankruptcy filings rose 18% to 12,107 in the first half of 2023 compared to the period earlier, with one of the biggest jumps seen in Chapter 11 filings that soared 68% in the period to 2,973, according to a release from Epiq Bankruptcy.
- Small business bankruptcies, captured as Subchapter V elections or a type of Chapter 11, also saw a 55% jump in filings to 814 over the period, though that stemmed from changes in the law that increased the eligibility filing limits, according to the release.
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“The growth in filings is reflective of more families and businesses facing surging debt loads due to rising interest rates, inflation, and increased borrowing costs,” American Bankruptcy Institute’s Executive Director Amy Quackenboss said in a statement. Read Article
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Bank of America Fined $150 Million for Consumer Abuses Including Fake Accounts, Bogus Fees |
CNBC - Hugh Son
KEY POINTS
- Bank of America engaged in deceptive practices that hurt hundreds of thousands of its customers in recent years, the Consumer Financial Protection Bureau said Tuesday.
- The bank charged multiple $35 overdraft fees for the same transaction, failed to properly issue rewards to credit card users and signed up customers for card accounts without their consent, the CFPB said in a statement.
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The company has to pay $150 million in fines, as well as about $80.4 million to customers who were unfairly charged bogus fees, on top of the $23 million it already paid to customers who were improperly denied card awards. Read Article
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57% of CFOs Will Increase Internal Investments Over the Next 12 Months: Weekly Stat |
CFO.com - Adam Zaki
Despite macroeconomic uncertainty and an abundance of risks, new McKinsey data shows that most CFOs are pushing for growth.
57% of CFOs Will Increase Internal Investments Over the Next 12 Months: Weekly Stat
While CFOs and their finance teams are working within initiatives to cut costs, many are trying to balance opportunities for improving performance with preserving future growth. CFOs and their teams have hoped to be able to control what they can, build for growth, and retain their best talent, all while trimming budgets and reducing risk wherever possible.
These initiatives, some of which stem from the overconfidence of finance leaders, involve spending in new areas that will presumably reduce future costs. Read Article
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PPP Fraud is ‘Worst in History’: $200B Stolen and Splurged on Lamborghinis, Beach Houses and Bling |
MSN – New York Post, Jeanette Settembre
Tens of thousands of fraudsters splurged on Lamborghinis, vacation homes, private jet flights and Cartier jewelry by fleecing the PPP loan system in a $200 billion heist — and did it because the COVID loan scheme was so easy to milk.
Approximately $1.2 trillion was rushed through Congress in 2020 and 2021 in COVID bailout cash for businesses and spent on the Economic Injury Disaster Loan (EIDLP) and the Paycheck Protection Program (PPP) schemes.
But now a new report from the Small Business Administration’s Office of Inspector General reveals an astonishing 17% vanished to fraud — an estimated total of $200 billion. Read Article
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Healthcare Bankruptcies Jump as Crypto ‘Calms Down’ |
CFO Dive - Maura Webber Sadovi, Senior Editor
Labor costs and a fall-off in government aid are factors cited behind healthcare industry distress. Meanwhile, bankruptcy experts said a commercial real estate “bubble” looms.
Physician staffing company Envision Healthcare is one of the biggest bankruptcies filed to date this year. It reported having $7.7 billion in debt when it announced it was seeking Chapter 11 protection in May. The image by Xnatedawgx is licensed under CC BY-SA 4.0
While total Chapter 11 commercial filings saw a sharp 68% year-over-year jump in H1, the makeup of the industries driving bankruptcies are shifting, according to bankruptcy experts speaking during a Wednesday webinar hosted by data provider Epiq and the American Bankruptcy Institute.
The surge of crypto sector cases that sparked significant concern last year seem to have “calmed down somewhat.” “We’re looking at a different landscape for the back half of this year,” Deidre O’Connor, managing director for corporate restructuring at Epiq, said in the webinar. Last year’s major crypto industry Chapter 11 bankruptcy filings included the crypto exchange FTX Trading and cryptocurrency lenders BlockFi and Celsius Network. Read Article
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Advice on Implementing an ESG Program |
EHS Today - Staff
Businesses with higher ESG maturity not only are more profitable but have less volatility in economic performance.
With the continuing demand to include ESG as part of a company's DNA, an article on JD Supra by Steven Andersen offers advice on how to set up an ESG program.
Identify Risks and Opportunities
“Risk” and “opportunity” are inherently subjective terms, and like ESG itself, mean different things to different organizations. Here, we’ll rely on the definitions of “risks” and “opportunities” given in ISO 45001, the global standard for occupational health and safety (OHS) management systems.
“Risks” basically represent a potential for something bad to happen, combined with the severity of the outcome if it happens. “Opportunities” are ways we can further improve our performance. We need to maintain a broad scope when identifying operational risks to consider not only safety and environmental risks but also financial, societal, and reputational risks as well. Simultaneously, we should also be proactive in pursuit of opportunities for improvement. Read Article
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Investment Firm to Pay $124M to Settle 401(k) Plan Mismanagement Allegations |
HR Dive - Ryan Golden, Senior Reporter
The U.S. Department of Labor joined other parties in suing Ruane, Cunniff & Goldfarb Inc. in 2019.
Investment management firm Ruane, Cunniff & Goldfarb Inc. will pay more than $124.6 million to settle lawsuits filed by the U.S. Department of Labor and private plaintiffs that alleged the firm improperly managed a 401(k) plan sponsored by DST Systems, DOL announced Monday.
The settlement is pending court approval of a related class action settlement, DOL said. The agency sued Ruane, Cunniff & Goldfarb in 2019 alleging that the firm used a “self-proclaimed investment strategy of ‘non-diversification’” that resulted in losses for the plan’s more than 9,000 participants. Read and Hear Article
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5 Reasons Why Top Economist Mark Zandi Says ‘This Time is Different’ and He’s ‘Betting Against’ a U.S. Recession |
Fortune Magazine - Will Daniel
Despite more than a year of consistent recession predictions from Wall Street’s top minds and dozens of Fortune 500 CEOs, the U.S. economy has remained remarkably resilient in 2023. Stubborn inflation and rising interest rates that typically signal the peak of an economic cycle haven’t managed to spark the job-killing downturn that many feared was inevitable. And now, one of the world’s leading economists is making the case that his peers’ consensus forecast for a recession this year is “off-base.”
“This time is different,” Mark Zandi, Moody’s Analytics’ chief economist, wrote in a CNN op-ed Tuesday titled, naturally: “Why I’m betting against a US recession.”
“Yes, the economy is fragile and vulnerable to losing the script,” Zandi writes. “And goodness knows we have been off script more often than not in recent years. But odds are that we will buck history and avoid recession.” Read Article
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The Housing Market’s Ice Age – If You Don’t Already Own a Home, You’re Going to be Screwed for Years to Come |
Business Insider – James Rodriguez
With the benefit of hindsight, we now know the exact moment America’s housing market turned upside down.
Our experts answer readers’ investing questions and write unbiased product reviews (here’s how we assess investing products). Paid non-client promotion: In some cases, we receive a commission from our partners. Our opinions are always our own.
Attempting to time the housing market is a foolish pursuit. Sure, there are heaps of data, forecasts, and market experts who can offer theories on where home prices or borrowing rates are headed. But no amount of tea-leaf reading can spare you from this harsh reality: Homebuying is ultimately a coin toss. If you’re very lucky, you buy a home right before prices boom. If you’re not so fortunate, you pony up the cash just in time for the bubble to burst.
While these breaking points are nearly impossible to see in advance, they’re often glaring in hindsight. Perhaps the most shocking “before and after” for the housing market in recent memory — the moment when the fortunes of homebuyers diverged, creating what one expert called a “housing economy of ‘haves’ and ‘have-nots’” — came in July 2020. That’s when it became clear that a wave of house-hungry millennials and space-starved remote workers were turning the housing market’s initial pandemic slump into a full-blown frenzy. Read Article
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The Next Big Threat Hovering Over the U.S. Economy |
Politico – Katy O’Donnell
Some $1.5 trillion in mortgages will come due in the next two years, a potential time bomb as higher interest rates push down property values.
The pandemic-induced rise of remote work has hammered offices. | Justin Sullivan/Getty Images
As the federal government strives to contain financial market turmoil, the next risk looming over the nation’s banks is in plain sight: the $20 trillion commercial real estate market.
Some $1.5 trillion in mortgages will come due in the next two years, a potential time bomb as higher interest rates and spiraling office vacancies push down property values. Read Article
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ER Doctor: “Private Equity in Medicine is Dangerous to Patients” |
Institute for New Economic Thinking – Lynn Parramore
Dr. Ming Lin, and healthcare providers like him, are fighting to take back control of medicine from private equity firms that are gobbling up practices and facilities. Should Wall Street make life-and-death decisions based on the bottom line?
So stealthily you probably never noticed, private equity firms have transformed American health care over the last decade — and not for the better, critics say. These Wall Street players have their eye on medical practices and facilities as so many untapped sources of revenue. Read Article
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Pro-Growth Tariffs: Modified Economic Model Shows Domestic Growth |
Coalition for a Prosperous America – Andrew Heritage
Economic models used to forecast the impact of international trade agreements have an in-built bias to favor free trade. This has led these models to underestimate repeatedly the damage done to U.S. manufacturing industry by trade agreements, dating back to NAFTA.
The bias or rigidity in these models can be corrected by modifying some of their assumptions and/or equations. In this working paper, we make two important modifications to GTAP (Global Trade and Analysis Project), the most widely used trade model, to allow trade restrictions in the form of tariffs to increase domestic output. This working paper shows that across-the-board tariffs of 35% on all manufactured imports would grow the U.S. economy, increase manufacturing output, and create jobs. Download Working Paper
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Here are the 5 Things to Know About the State of the Economy This Independence Day |
NPR – Scott Horsley
As the nation celebrates its 247th birthday with hot dogs and fireworks, the U.S. economy is somewhere in between sizzling and fizzling.
The job market is strong, with unemployment near a half-century low. But inflation — and the Federal Reserve’s efforts to fight it — are keeping recession fears alive.
Here are five things to know about the economy during this Fourth of July holiday. Read Article
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America Is Rediscovering Its Recipe For Economic Success |
Coalition for a Prosperous America – Michael Stumo
The China challenge has caused America to search for the tools it once deployed so well. It’s time to learn from the past — and regain America’s mighty industrial self-sufficiency.
Plenty of lobbyists and policymakers in Washington extol the virtues of the free market, but they often do so without regard to the national interest. And now, as Washington finally responds to Beijing’s aggressive competition, some warn that the United States “can’t be like China.”
They say that using federal economic and trade strategies amounts to “state-directed capitalism,” and consumers will pay the price.
It’s a criticism leveled by some members of both parties. Democrats criticized former President Donald Trump’s tariffs; Republicans opposed the subsidies in the Biden administration’s Inflation Reduction Act.
This arguing overlooks something fundamental. The early U.S. economy was built on an economic strategy guided by the federal government. And it was very much intended to establish a broad industrial base. Read Article
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Economic Data Should be Relevant to Everyone, Not Just the Super-rich |
Brookings Institution - Vanessa Williamson, Itai Grofman
In one month, the richest 25,000 Americans saw their wealth grow by an average of nearly $10 million each, compared to just $200 dollars apiece for the bottom 50% of households.
When most gains go to the rich, overall growth is a good indicator of how the wealthy are doing, but a poor indicator of how the non-rich are doing.
“Stocks closed higher today amid brisk trading…” On the radio, television, in print and online, news outlets regularly report trivial daily changes in stock market indices, providing a distinctly slanted perspective on what matters in the economy. Except when they shift suddenly and by a large margin, the daily vagaries of the market are not particularly informative about the overall health of the economy. They are certainly not an example of news most people can use. Only about a third of Americans own stock outside of their retirement accounts and about one in five engage in stock trading on a regular basis. And yet the stock market’s minor fluctuations make up a standard part of economic news coverage. Read Article
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Our World in Data - Joe Hasell, Pablo Arriagada, Esteban Ortiz-Ospina and Max Roser
How are incomes and wealth distributed between people? Both within countries and across the world as a whole?
On this page, you can find all our data, visualizations, and writing relating to economic inequality.
This evidence shows us that inequality in many countries is very high and, in many cases, has been on the rise. Global economic inequality is vast and compounded by overlapping inequalities in health, education, and many other dimensions. Read Report
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DOJ, FTC Detail Tougher Stance on Anticompetitive Mergers |
CFO.com - Vincent Ryan, Senior Reporter-at-Large
In new antitrust guidelines, the DOJ and FTC vow to review M&A deals along “any dimension of competition.”
As part of the Biden Administration’s promise to toughen enforcement of U.S. antitrust laws, the U.S. Department of Justice and the Federal Trade Commission on Wednesday introduced long-awaited revised guidelines for reviewing proposed mergers and acquisitions.
The draft guidelines are designed to increase transparency and inform agency staff and plaintiffs of the agencies’ aggressive approach toward mergers that dampen competition in the modern economy. They also detail how the agencies will evaluate proposed mergers under federal law. Read Article
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Economic Books for Our Time |
Plunder: Private Equity’s Plan To Pillage America – by Brendan Ballou
Federal prosecutor Brendan Ballou provides the scrutiny that an industry with this much economic and political power should invite in his provocative new book, “Plunder: Private Equity’s Plan To Pillage America.” He reveals how private equity will transform our lives over the next decade in ways as profound as Big Tech did in the last, and not for the better unless we change how it does business.
Ballou warns that whatever you call them, many have become incentivized to do great harm to consumers, workers, and taxpayers– and they’re doing it with the help of lavishly-funded political allies.
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Economic Documentaries for Our Time |
The Great Postal Heist – Producer: Sheila Dvorak, Director: Jay Galione
The Great Postal Heist follows director Jay Galione’s father, a 30-year US Post Office clerk, who was harassed, threatened, and fired for standing up for his colleagues. A moving indictment of the toxic culture and push to downsize, the documentary chronicles the journey of postal workers, experts, and advocates who experienced firsthand the abuses in the oldest federal agency in America and stood up against the USPS’s notoriously violent work environment, featuring interviews with Ralph Nader and Richard Wolff. The atmosphere was a result of systematic dismantling and privatization of the trillion-dollar mail industry by lobbyists and politicians who seek to make profits at the expense of the mental health, living wages, and working conditions of their employees. Watch Video
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Mexico, Latin America, South America and the Caribbean |
A Top Guatemalan Party is Barred, Throwing the Presidential Election Into the Unknown
NPR - Eyder Peralta
SAN MARCOS DE COLÓN, Honduras — The presidential race in Guatemala is in limbo even as the country's top electoral officials have certified the results of the first-round elections last month.
After delays caused by protests from Guatemala's political elite, the country's top electoral body finally certified the results of June's elections late Wednesday evening.
It said former first lady Sandra Torres, who was once jailed on corruption charges, would face off in a second round against reformist candidate Bernardo Arévalo, who ran on an anti-corruption platform. Read and Hear Article
Caribbean Countries Poised to Seek UN Legal Advice on Slavery Compensation
The Guardian - Lisa O'Carroll Brussels Correspondent
Legal opinion would put pressure on 10 European countries targeted to engage in reparative justice
Caribbean countries are considering approaching the UN’s international court of justice (ICJ) for a legal opinion on demanding compensation from 10 European countries over slavery, as the fight for reparative justice is stepped up, the president of the group of 33 nations in the region has said.
Ralph Gonsalves, the current leader of the Community of Latin American and Caribbean States (Celac), said he was also looking for an apology from the British government and expressed disappointment in Rishi Sunak’s lack of engagement in the matter. Read Article
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Canada, Europe and Great Britain |
Half of Eastern Germans ‘Want Authoritarian Rule’
DeutscheWelle – Hans Pfeifer
Islamophobia, antisemitism and xenophobia are widespread in eastern Germany. A majority of respondents to a University of Leipzig survey said they would like to see a “strongman” or a “strong party” leadership.
Right-wing extremist rhetoric finds particularly strong support in eastern Germany, according to a large-scale study by the University of Leipzig on right-wing extremist attitudes in eastern Germany.
The researchers found “a strong wariness” about democracy, adding that not even half of the respondents said they were satisfied with their everyday experience of democracy. Read Article
Parts of a Munich Synagogue Demolished by Nazis are Found in a River 85 Years Later
NPR – Rachel Treisman
Jewish Museum Munich
After Adolf Hitler ordered Munich’s main synagogue to be demolished in June 1938, no one knew what became of the rubble — until last week. Construction crews working on a river dam unearthed some 150 tons of stone columns and a tablet bearing the Ten Commandments in Hebrew.
Bernhard Purin, the director of the Jewish Museum Munich, says they were found 7 or 8 miles away from the synagogue site, which was converted into a parking lot and now houses a department store and a monument to the original building. Read Article
After Days of Destruction, Macron Blames a Familiar Bogeyman: Video Games
NPR – Vanessa Romo
Fueled by rage over the police killing of a teenager during a routine traffic stop June, throngs of young people in France have been lashing out against alleged racial profiling and calling for greater police accountability.
Over the last week, protesters have lit thousands of cars on fire, attacked schools, town halls, police stations, banks and businesses, and set nearly a thousand buildings ablaze. Some in the Paris suburb of L’Hay-les-Roses rammed a burning car into the mayor’s home. Estimates of the damage have been projected to be about $1.1 billion. As a result, thousands of young people have been arrested since the rioting began in the days after 17-year-old Nahel M. was killed on June 27. According to France’s Interior Ministry, the average age of those arrested is 17. Read Article
US Economist Drops Bid for EU Job After Controversy Over Her Nationality
France24 – Kenzo Tribouillard
A US antitrust expert has dropped out of the running for a top job to advise the European Commission on regulating the tech industry following controversy over her nationality.
Yale University professor Fiona Scott Morton had been hired as chief economist by EU competition commissioner Margrethe Vestager, but her appointment was riticized by EU lawmakers from the right and the left.
French President Emmanuel Macron also took issue with her selection, saying it raised “many questions” and noted that the United States or China would not hire a foreigner to such a job. Read Article and See Video
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China is Preparing for War
The Telegraph
Tensions between the West and China show no sign of easing. Interdependence and mistrust continue to mix uneasily. Triggers are many and varied including; human rights, relations with Russia vis-à-vis Ukraine, microchip manufacturing and the big one, Taiwan.
Then there is the rhetoric. US Treasury Secretary Janet Yellen is in Beijing for talks aimed at easing some of these tensions. It’s ironic, but not unprecedented, that at the exact same time, President Xi is telling the troops of the Eastern Theatre Command – the one that faces Taiwan – that they need to step up their combat readiness and “… persist in thinking and handling military issues from a political perspective, dare to fight, be good at fighting, and resolutely defend our national sovereignty, security, and development interests.” Read Article
China’s Economy is Way More Screwed Than Anyone Thought
Business Insider – Linette Lopez
Entering 2023, the relentless drumbeat of Wall Street consensus was pounding out one consistent rhythm: China is back. After years of lockdowns and suppressed output, economists and investors cheered the end of Beijing’s zero-COVID policy and the economic boom that was sure to follow. The colossus-in-waiting that is the Chinese consumer was about to roam freely, analysts said. This was great news for the whole world — everyone would benefit from the globe’s second-largest economy getting healthy.
But six months into the year, Wall Street’s dreams for the country are turning into a nightmare. Read Article
China: More Young People Reject Marriage
DeutscheWelle – Yuchen Li in Taipei
Despite government incentives, high youth unemployment and financial stress are keeping young people from choosing to marry and start families.
For 29-year-old Jingyi Hou, a schoolteacher in China’s northern Shanxi province, marriage is not a priority.
Despite her parents’ persistence in arranging around 20 blind dates for her over the past three years, Jingyi remains single and feels no urgency to find a marriage partner.
“Marriage is about freedom. Not everyone needs to get married as soon as possible,” she told DW. Read Article
Japan: Is It Safe to Release Fukushima Water Into the Ocean?
DeutscheWelle – Julian Ryall in Tokyo
The Japanese government is ramping up its campaign to convince the nation and its neighbors that the treated radioactive water poses no danger to humans or the environment.
Tokyo’s plan to dispose of more than 1.2 million tons of water from the Fukushima Daiichi nuclear power plant in the ocean received a major boost on Tuesday when the International Atomic Energy Agency (IAEA) finally approved it, saying the method of disposal was “consistent” with international safety standards. The IAEA report also concluded that the discharged water would have “a negligible radiological impact” on the environment.
The Japanese govern”ent and the operator of the plant that crippled in the 2011 earthquake and tsunami welcomed the IAEA’s endorsement. Read Article
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Asia, India and Australia |
Months of Increasingly Violent Ethnic Clashes Have Put Northeast India on Edge
NPR – Aakash Hassan
IMPHAL, India — In India’s northeastern state of Manipur, a months-long ethnic clash has turned into a political battleground. Rahul Gandhi, India’s main opposition leader, who was on a two-day visit to the region last week, said he was pained to see the situation and people suffering.
“I came here because I wanted to share the pain of the people of Manipur. It is a horrible tragedy that has taken place,” the Congress party leader said on Friday. Read Article
Yamuna River Reaches the Iconic Taj Mahal’s Outer Walls in India After Swelling with Monsoon Rains
Associated Press
AGRA, India (AP) — Rising water from the Yamuna river on Wednesday reached the outer boundary walls of the iconic Taj Mahal and submerged one of its adjacent gardens after record monsoon rains swelled rivers across northern India over the last three weeks.
The flooding at the 17th-century white marble monument in Agra city came as heavy floods had killed at least 100 people in parts of north India, swept away houses and bridges and resulted in deadly landslides. Read Article
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Africa, Middle East, Eastern Europe and Russia |
Kenya-EU Trade Deal: Why the East African Community Was Left Out
BBC News – Waihiga Mwaura, BBC Focus on Africa TV
Kenya’s President William Ruto hailed his country’s “remarkable partnership” with the European Union (EU) as the two sides inked a 25-year trade deal, but it has raised questions about East African unity.
Has the region’s economic powerhouse undermined that unity or did it have little choice but to go it alone? Read Article
Putin Accuses Wagner Group of a Treasonous ‘Military Uprising’ in Russia
NPR – Charles Maynes, Greg Myre
Russian President Vladimir Putin condemned an uprising by the head of a pro-Kremlin mercenary force against his Defense Ministry as a “stab in the back” that risked undermining Russia’s war effort in Ukraine.
“Those who organized this military uprising, who raised arms against their fellow military comrades will answer for it,” Putin said in an address to the nation Saturday morning.
The Kremlin leader called on those participating in the rebellion to “make the only right choice: Stop taking part in this criminal activity.” Read Article
Israeli Protests Reignite as PM Pushes on With Justice System Overhaul
The Guardian – Reuters
There have been huge anti-government protests in Tel Aviv against a renewed push by the Israeli prime minister, Benjamin Netanyahu, to overhaul the justice system.
Tens of thousands demonstrated across the country, with the rally in Tel Aviv drawing crowds far larger than recent protests, N12 News and Channel 13 reported.
Nationwide demonstrations began in January when the government announced a plan to overhaul the judiciary with a legislation package that would roll back some supreme court powers and give the governing hard-right coalition decisive sway in picking judges. Read Article
Nigerians are Rattled by Prices That Just Keep Going Up. How Are They Coping?
NPR – Emmanuel Akinwotu
Kehinde Adebajo, a beautician and barber, carefully threads a woman’s eyebrows. Pictures of his work — eyebrow tints, facial threading, tattoos he’s designed — are scattered around in the clutter and on the walls of his narrow wooden stall in Balogun Market, the largest in Lagos with a vast sprawl of thousands of businesses. Now 56, he’s worked there since he was 16.
For years, he and many other market vendors thrived, he says, operating out of stalls wedged along walkways and colonial era streets of Lagos Island, a district within the city. But now, earning a living here has rarely been more difficult.
“It’s the afternoon and I haven’t even eaten, only a biscuit and ‘gala,’” a cheap pastry, he says. “But I’m even more fortunate than others. So many people can’t afford food or transport. We thank God for life, but the last few months have not been easy, everything has become expensive.” Read and Hear Article
Energy Transition: The Dark Side of the Electric Car Battery Cobalt Rush
Reuters – France24, Arnaud Zajtman
Electric cars promise a clean energy transition amid the ongoing climate crisis. They rely on cobalt, a highly strategic mineral necessary for electric car batteries. It is found in particular in DR Congo, which has the largest cobalt reserves in the world. It is mined there at a colossal environmental and human cost involving child labour, water and air pollution, as well as corruption. As the auto industry battles it out, we went to meet the victims of the cobalt rush. FRANCE 24’s Quentin Noirfalisse and Arnaud Zajtman investigate. See Video
Skilled Migrants Start Looking to Eastern Europe
DeutscheWelle - Jo Harper in Warsaw
Poland and Hungary continue to oppose the European Union migrant quotas. But despite their anti-immigration rhetoric, skilled migration from non-EU countries is growing.
"I could not have imaged three years ago that I would be sitting in Warsaw drinking Polish beer," says Shourya Singh, a risk management consultant from Varanasi in northeast India, who works at Ernst & Young (EY), a professional services company, in the Polish capital.
Shourya told DW that he was headhunted by an international staffing agency via LinkedIn and worked on a contract for Dutch bank ING before joining EY. Read Article
Iraq Expels Sweden Ambassador After Protester in Stockholm Stomps on Koran
France24
Iraq on Thursday expelled Sweden’s ambassador after a man stomped on a copy of the Koran at a Stockholm demonstration just hours after the Swedish embassy in Baghdad was torched over the planned protest.
Sweden-based Iraqi refugee Salwan Momika, 37, stomped and kicked the Koran but left the protest without burning it, just weeks after he set fire to pages of the book outside Stockholm’s main mosque.
Sweden and other European countries have previously seen protests where far-right and other activists, citing free speech protections, damage or destroy religious symbols or books, commonly sparking protests and heightening diplomatic tensions. Read Article and See Video
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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
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PTI Systems
International, Inc.™
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- Affiliated with Proactive Technologies, Inc. for projects outside the United States;
- Workforce development partner for employers, and education/ training providers who support employers, to ensure every worker can be trained to full job mastery;
- Experienced with governmental, IDB, GIZ and economic development agency sponsored projects;
- Experienced in assuring multinational employers expanding to the U.S. have the skilled workforce they need.
- PTI Systems International sets-up complete worker development and performance management systems, and provides technical implementation support;
- We provide strategies for our project's transition to local management.
- Speakers for seminars and conferences.
Don't complain about a "skills gap," deliberately develop every worker to full job mastery!
© 2018-23 PTI Systems International, Inc.™
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"A dissatisfied customer does not complain: he just switches"
American engineer, statistician,
professor, author, lecturer, and
management consultant
1900 - 1993
“The difficulty lies not so much in developing new ideas as in escaping from old ones.”
English economist, whose ideas fundamentally changed the theory and practice of macroeconomics and the economic policies of governments.
1883 - 1946
“He who learns but does not think, is lost! He who thinks but does not learn is in great danger.”
Chinese philosopher, poet and politician
551 BC - 479 BC
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U.S. Department of Commerce - Bureau of Economic Analysis |
U.S. International Trade in Goods and Services
The U.S. monthly international trade deficit decreased in May 2023 according to the U.S. Bureau of Economic Analysis and the U.S. Census Bureau. The deficit decreased from $74.4 billion in April (revised) to $69.0 billion in May as imports decreased more than exports. The goods deficit decreased $4.8 billion in May to $91.3 billion. The services surplus increased $0.7 billion in May to $22.3 billion. Read Report
U.S. International Transactions, 2022
For 2022, U.S. exports of services were $928.5 billion, and U.S. imports of services were $696.7 billion. For 2020—the latest year for which statistics are available—services supplied to foreign persons through foreign affiliates of U.S. multinational enterprises (MNEs) were $1,649.7 billion, and services supplied to U.S. persons through U.S. affiliates of foreign MNEs were $1,179.3 billion. Affiliates supplied most of the services provided to foreign persons by the United States and to U.S. persons by foreign markets in 2020. Read Report
New Foreign Direct Investment in the United States, 2022
Expenditures by foreign direct investors to acquire, establish, or expand U.S. businesses totaled $177.5 billion in 2022, down $185.1 billion from $362.6 billion in 2021. Read Report
BEA International Trade and Investment Country Facts
Direct Investment by Country and Industry 2022
The U.S. direct investment abroad position, or cumulative level of investment, increased $212.2 billion to $6.58 trillion at the end of 2022 from $6.37 trillion at the end of 2021, according to statistics released today by the U.S. Bureau of Economic Analysis. The increase reflected a $172.8 billion increase in the position in Europe, primarily in the Netherlands and the United Kingdom. By industry, manufacturing affiliates had the largest increase.
The foreign direct investment in the United States position increased $216.8 billion to $5.25 trillion at the end of 2022 from $5.04 trillion at the end of 2021. The increase mainly reflected a $142.2 billion increase in the position from Europe, with the largest increases from the United Kingdom and Germany. By industry, affiliates in manufacturing and wholesale trade accounted for the majority of the increase. Read Report
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U.S. Department of Commerce - Bureau of the Census |
Monthly Wholesale Trade: Sales and Inventories
May 2023 sales of merchant wholesalers were $650.2 billion, down 0.2 percent (+/- 0.4 percent)* from last month. End-of-month inventories were $913.7 billion, virtually unchanged (+/- 0.2 percent)* from last month. May 2023: 0.0* % Change in Inventories; April 2023 I: -0.3* % Change in Inventories. Read Report
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Organisation for Economic Co-operation and Development |
U.S. Data versus the World
Find, compare and share the latest OECD data: charts, maps, tables and related publications. Access Data
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International Trade in Services
Trade in services records the value of services exchanged between residents and non-residents of an economy, including services provided through foreign affiliates established abroad. This indicator is measured in million USD and percentage of GDP for exports, imports and net trade. Services include transport (both freight and passengers), travel, communications services (postal, telephone, satellite, etc.), construction services, insurance and financial services, computer and information services, royalties and license fees, other business services (merchanting, operational leasing, technical and professional services, etc.), cultural and recreational services, and government services not included in the list above. Trade in services drives the exchange of ideas, know-how and technology, although it is often restricted by barriers such as domestic regulations. All OECD countries compile their data according to the 2008 System of National Accounts (SNA). Access Data and Tables
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Section 301 Tariffs Reduced U.S. Dependence on China, Decoupling Has Begun |
Coalition for a Prosperous America – Andrew Heritage
Key Points
- The Section 301 tariffs imposed in 2018 on Chinese imports reduced U.S. dependence on China. While U.S. imports surged by 39% between 2017 and 2022, China imports were up very slightly, and still below their 2018 peak. As a result, China fell from 21.6% of U.S. imports in 2017 to just 16.5% in 2022.
- The broad range of sectors where a significant share of U.S. imports have left China to locate in third countries highlights the low-tech, non-proprietary nature of most Chinese manufacturing. After the imposition of Section 301 tariffs, China lost share in 16 of 19 manufacturing sub-sectors.
- The continued collapse in China’s share of U.S. imports highlights the fact that decoupling is a viable objective, and has in fact already begun.
- Mexico, Vietnam, and Cambodia gained most from China’s falling share. Mexican imports rose by $111 billion since 2017, while Vietnam imports have more than doubled from a low base, and Cambodia’s have more than tripled.
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The Section 301 tariffs also led to some reshoring to the U.S. A recent USITC report found several sectors, such as semiconductors, reshored some production due to the tariffs. Read Article
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Front Line: Is Reshoring Production the Answer to Supply Chain Woes? |
Area Development – Dan Emerson, Staff Editor
In light of supply chain challenges post-pandemic, some manufacturers have decided to reshore their production, with varying results.
Reshoring, the process of returning the production and manufacturing of goods to a company’s original country, gained momentum in the pandemic era, according to new data. The concept also continues to evolve, experts say, as companies re-evaluate the challenges and opportunities of reshoring, or
The Reshoring Initiative recently reported reshoring and foreign direct investment announcements in 2021 added up to 261,000 jobs, up 46 percent from 2020.
According to Harry Moser, founder and president of the Reshoring Initiative, the pandemic helped increase reshoring by U.S. companies as shortages of personal protective equipment, electric vehicle batteries, semiconductors, and other essential items highlighted America’s reliance on overseas producers. Read Article
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May Trade Deficit Falls 7.3% to $68.9 Billion; China Deficit Drops 20% |
Coalition for a Prosperous America
The May goods and services trade deficit fell by 7.3% to $68.9 billion, the second lowest monthly deficit since March, when it was $60 billion, the Bureau of Economic Analysis said on Thursday. One of the big takeaways yet again from this month’s numbers show a declining deficit with China.
All told, the goods deficit for the month was $91.25 billion, bringing the Jan-May goods deficit to $450.41 billion. At this rate, it looks like the U.S. goods deficit will still crack $1 trillion if the monthly gap remains around $90 billion. The U.S. broke the $1 trillion mark for the first time in 2021. Read Article
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U.S. Customs Agency Finds Evasion Of Antidumping And Countervailing Duties Against Chinese Importer |
Coalition for a Prosperous America
WASHINGTON – The Coalition for a Prosperous America (CPA) today released a statement on final determination of evasion of antidumping and countervailing duties against a Chinese importer. The US Customs Agency, through the U.S. Customs and Border Protection (“Customs”), issued a final affirmative determination under the Enforce and Protect Act (“EAPA”) that the U.S. importer Vanguard Trading Company LLC (“Vanguard”) is guilty of evading the antidumping and countervailing duties (“AD/CVD”) on quartz surface products from China through its imports of “Lucciare” branded products.
On June 14, 2023, Customs determined that Vanguard was illegally classifying Chinese quartz surface products by describing the merchandise as “artificial marble” and/or “artificial stone” when its merchandise should be described as quartz surface products. Customs found that Vanguard was importing these products from Foshan Monica Quartz Stone Co. Ltd. and four other Chinese suppliers. Vanguard has been marketing the products under the brand “Lucciare.” As part of the marketing under the Lucciare brand, Vanguard has claimed that the merchandise is a new “FriTech” material made from “fritted sand” that is different from quartz surface products because it is made predominantly of “silicates” rather than “silica.” However, the evidence developed during the EAPA investigation shows that the imported merchandise is composed predominantly of silica and thus falls squarely within the scope of the AD/CVD orders on quartz surface products from China. Read Article
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Should Venture Capital, Private Equity, Be Allowed To Invest In Advanced China Tech? |
Coalition for a Prosperous America
Should Silicon Valley and private equity firms be allowed to invest in Chinese advanced technology companies and start-ups? As the China debate heats up – and will likely get hotter in the 2024 presidential election season – even the Business Roundtable has suggested more scrutiny for outbound investment into what is America’s most worrisome rival.
“The Business Roundtable says there is a good case to be made to restrict investments in venture capital into China if those investments come with management and technical expertise being transferred to companies,” said Christopher Padilla, former Under Secretary for International Trade at the U.S. Department of Commerce. “I think this is where the Treasury Department is headed. This would stop the most egregious cases from getting venture capital funding, and stop money flowing into sectors we are most concerned about,” Padilla told the House Select Committee on the CCP on Wednesday, July 19. Read Article
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Education And Workforce Development News |
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Commentary: Overcoming the Obstacles to Quality Cost Data – The Brookings Childhood Cost Calculator (C3) in Action |
Brookings Institution – Elyse Painter, Emily Gustafsson-Wright
UNESCO estimates that every year $5 trillion is spent on education around the globe, with less than 1% of that spent in low-income countries.
Billions are needed to tackle child malnutrition, which leaves 20% of children worldwide stunted and over 5% suffering from wasting, or acute malnutrition. The COVID-19 pandemic has undone progress across nearly every sector impacting children and youth around the world, necessitating an increase in global spending to meet the Sustainable Development Goals (SDGs) and protect the most vulnerable. Funders, organizations, and governments hope that their spending on Education and Early Childhood Development Costing from Education Plus Development programs, interventions, and reforms improve outcomes for children and youth in an equitable way, and that it ultimately leads to more educated, thriving, and productive citizens. Yet for all the spending, data on costs generally remains elusive. Without high-quality cost data, decisionmakers face difficult and uninformed choices in implementing, changing, reducing, or scaling programs. While cost data are not the only type of data needed to make these decisions, for example impact data are necessary for cost-effectiveness analysis, they are unfortunately often neglected because of challenges faced in their collection and analysis. Read Article
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Gen Z Values Education — But Doesn’t Think a Four-year Degree is the Only Option |
HR Dive – Laura Spitalniak, Associate Editor
Dive Brief:
- The current cohort of high school students, part of Generation Z, values postsecondary education but is increasingly interested in alternatives to four-year colleges, according to a new report from ECMC Group, a nonprofit focused on student success, and Vice Media.
- In 2023, 65% of surveyed students said they would need education beyond high school, compared to 59% pre-pandemic, the report said. But 59% said they could be successful if they don’t get a four-year degree.
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Almost half, 48%, of high schoolers said their postsecondary education would ideally take three years or less, and just over a third, 35%, said it should take two years or less. Read Article
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Easing Up on Degree Requirements |
Community College Daily News – Mathew Dembicki
Employers continue to loosen the reigns on requiring a college degree for entry-level positions — focusing instead on applicants’ skills — as they struggle to find enough workers for open jobs, according to an annual report on employability by Cengage Group.
Only half of 1,000 employers surveyed now require a two- or four-year degree for entry-level jobs, down from 62% in 2022, the report says. Healthcare, manufacturing and technology are among top industries that have seen a significant shift over the last year in the percentage of non-degree jobs (See graph, below). In addition, 61% of participating employers reported seeing an increase in non-degree applicants. Read Article
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Training And Organizational Development News |
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Self-Confident Leadership Shines in Stressful Situations |
IndustryWeek – Chris Morgan
Stress has become a dirty word, so it’s probably worth pausing to examine our broad prejudice against it. There is no doubt that stress can be harmful. We have long known that toxic stress leads to hypertension, heart disease and increased death rates. Newer research shows the correlation between traumatic stress and a range of other diseases, both physical and mental.
But an appropriate amount of stress, or “stretch,” is essential for organizations. Whether we look at the strategic need to continuously reinvent ourselves or the operational need to re-engineer for efficiency, we are always competing. The question should not be how to remove stress from our organizations, but how to embrace the challenge to compete in a way that removes the toxic elements. And this is where self-confident leadership shines. Read Article
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Tackling Resistance with the People Principle of Change |
IndustryWeek – David Rizzardo
During a lean transformation, pushback is part of the process.
Resistance to change during a lean transformation is inevitable. Let’s not be surprised when it surfaces. It’s part of the process. There are several root causes, including a lack of understanding, various fears that stifle action and the fact that our brains are hardwired to resist change.
No single countermeasure addresses all the root causes of resistance. However, I subscribe to a people principle of change that goes a long way in engaging the hearts and minds of team members: People don’t usually resist what they helped to create.
Let’s look at five points that are integral to this principle. Read Article
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5 Leadership Tips to Maintain Culture Amid Growth |
CFO.com - Adam Zaki, Reporter
As CFOs set growth goals, commitment to organizational culture shouldn’t be left by the wayside.
Emphasizing the importance of culture as a company grows can be a cumbersome task for CFOs and business leaders. But when the business grows, the culture, governance, and ethics must grow as well.
What works for a company of 25 may not work for a company with 125 employees. CFOs need to be intentional about incorporating the cultural shift to coincide with the productivity and quality of the growth itself during the process. Leaders who have experienced major growth, especially those who have been a part of significant growth, witness this firsthand.
Here are five insights to consider as your company encounters these growth challenges. Read Article
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Many Workers Lack Access, Understanding of Continuous Upskilling |
HR Dive: Learning - Carolyn Crist
Cross-sector cooperation could help build opportunities for skills development, a new report indicates.
U.S. workers face several barriers to training today, whether by lacking access to relevant programs or an understanding of how upskilling could lead to career advancement, according to a July 11 report from D2L, a global learning technology company.
Overall, workers want to learn and consider training to be critically important amid the current economic environment and pace of technological change. However, continuous upskilling is still not the norm.
“We know how important learning is to both individuals and organizations to stay competitive, but we can also see that workers are still finding the micro-credential environment difficult to navigate,” John Baker, CEO of D2L, said in a statement. Read and Hear 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.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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Are You Listening, or Talking Through a Megaphone? |
IndustryWeek - Carl Livesay
Broadcasting vs. communicating: Only one of these messaging approaches builds trust.
Effective communication is critical in a manufacturing environment. Communication, good and bad, directly impacts the bottom line. It can be the difference between a successful year and a prosperous one.
Too often, leaders and managers broadcast instead of communicate, ignoring the impact of corporate policies and decisions on their own workforce.
One example of this disconnect is when leadership fails to convey excitement about new workers joining the company. The new workers, detecting the company’s hesitation to engage and include them, build resentment and apprehension. After not embracing the team member, the company is puzzled why they do not meet their expectations. Read Article
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At Work -- Let’s Agree to Disagree |
EHS Today - Staff
Don't ignore the elephant in the room.
As younger workers are more inclined to express their opinions at work, there might be some friction as to how this process should work.
So Korn Ferry offers advice on how to disagree respectfully.
Establish common ground.
Experts say it’s critical to stay focused on the goal: the problem that needs solved and its organizational impact. Connecting to the goal creates a sense of being on the same team. If an argument starts getting heated, reminding everyone of the goal can reset the dialogue and—hopefully—shut down personal attacks. "Think of the why as the lighthouse guiding you home when disagreement happens,” says Rasha Accad, a career coach at Korn Ferry Advance. 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 |
July
By Dean Prigelmeier, President of Proactive Technologies, Inc.
by Stacey Lett, Director of Operations – Eastern U.S. – Proactive Technologies, Inc.
by Randy Toscano, Jr., MSHRM, Executive Director of Human Resources, Paris Regional Medical Center
by Dean Prigelmeier, President of Proactive Technologies, Inc.
by Proactive Technologies, Inc. - Staff
June
by Dean Prigelmeier, President of Proactive Technologies, Inc.
by Stacey Lett, Director of Operations - Eastern U.S. - Proactive Technologies, Inc.
by Frank Gibson, Workforce Development Advisor, retired from The Ohio State University – Alber Enterprise Center
by Proactive Technologies, Inc. - Staff
May
by Dean Prigelmeier, President of Proactive Technologies, Inc.
by Stacey Lett, Director of Operations – Eastern U.S. – Proactive Technologies, Inc.
by Proactive Technologies, Inc. Staff
by Dean Prigelmeier, President of Proactive Technologies, Inc.
April
by Dean Prigelmeier, President of Proactive Technologies, Inc.
by Stacey Lett, Director of Operations – Eastern U.S. – Proactive Technologies, Inc.
by Proactive Technologies, Inc. – Staff
by Dean Prigelmeier, President of Proactive Technologies, Inc.
March
by Dean Prigelmeier, President of Proactive Technologies, Inc.
by Stacey Lett, Director of Operations – Eastern U.S. – Proactive Technologies, Inc.
by Stacey Lett, Director of Operations – Eastern U.S. – Proactive Technologies, Inc.
by Dean Prigelmeier, President of Proactive Technologies, Inc.
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Proactive Technologies, Inc. Partners With Educational Institutions, Workforce/Economic
Development Groups, Government Agencies
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Structured on-the-job training attracts and engages employers in workforce development partnerships...some projects sustainable for more than 18 years!
This creates a steady need for your related technical instruction, services and a pathway for employment.
These partnerships:
- enhance your institution's opportunity to market your products and services to incumbent workers;
- allow your organization to include structured on-the-job training as a capstone to preemployment preparation;
- document a trainee-to worker's increasing value to the employer - the key to retention - rather than leaving it to chance;
- properly aligns workforce development resources and maximizes the impact and results; allows you to engage an employer's facility, equipment and staff in the training process;
- provides the best, sustainable infrastructure for apprenticeships and internships that last!
- is a win for the trainee, win for the worker, win for the employer, win for the institution and win for the community!
This approach has continued to prove itself since 1988, and does not compete with your school's or agency's products and services; it adds to your efforts the clear, tangible, measurable advantage that employers seek.
Copyright © 2015 - 2023 Proactive Technologies, Inc.™ ALL RIGHTS RESERVED
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Tri-Rivers Career Center - Adult Education provides lifelong, continuous learning for a diverse adult population. We utilize practical skills with an eye toward technological advancement.
We partner with state agencies and employers to provide targeted skill development to future and incumbent workers.
Our RAMTEC (Robotic and Advanced Manufacturing Technology Education Collaborative) facility - one of many throughout the state - offers advanced technical training in specialized areas such as robotics, robotic welding, and engineering technology.
Copyright © 2022 Tri-Rivers Career Center - Adult Education - RAMTEC ALL RIGHTS RESERVED
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PROACTIVE TECHNOLOGIES, INC. CLIENT SERVICES |
To supplement onsite PROTECH™ system of managed human resource development classes, these regularly scheduled webinars are available to the registered staff of clients:
- Structured On-The-Job Training Instructor Certification
- Structured On-The Job Training Checklist Administrator Certification
- Management Structured On-The-Job Training Project Support Briefing
- Integrating Support for Plant-Wide ISO/AS/IATF Quality and Safety Systems with PROTECH Workforce Development System
- Supporting "Pay-For-Value" Systems
- Promoting Continuous Process Improvement While Implementing the PROTECH System for the Accelerated Transfer of Expertise™
- PROTECH Onsite Lead Trainer and System Administrator Certification
Contact US t o attend one of these seminars and we will send you an e-reservation. Include your client ID, name and user ID number and which webinar you would like to attend.
Copyright © 2019-23 Proactive Technologies, Inc.™ ALL RIGHTS RESERVED
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EV Battery Manufacturing: Steps to Assure Joining Quality and Eliminate Harmful Leaks |
Quality Magazine – Jürgen Dennig
Battery manufacturing quality in the automotive industry is becoming increasingly important with the growing popularity of electric and hybrid-electric vehicles.
Automated dispensing applications for batteries must be precise to achieve full battery performance, provide thermal management and avoid dangerous moisture and gas leaks.
Lithium-ion batteries manufactured with a variety of approaches are powering plug-in hybrid (PHEV), hybrid (HEV), and battery (BEV) powered electric vehicles on the road today. Read Article
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Lack of Nondestructive Testing Alleged in Titan Implosion |
Quality Magazine
Court documents filed in 2018 allege OceanGate allowed the Titan to perform dives without “nondestructive testing to prove its integrity.”
The filing further described that the Titan’s hull is made of carbon fiber, not metal, and was built to withstand certified pressure of 1,300 meters, but OceanGate planned to take passengers to 4,000 meters.
“The paying passengers would not be aware, and would not be informed, of this experimental design, the lack of non-destructive testing of the hull, or that hazardous flammable materials were being used within the submersible,” the legal filing stated. Read Article
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A North Carolina Roller Coaster Closes for Repairs After a Crack is Found in a Pillar |
NPR – Emma Bowman
An amusement park in Charlotte, N.C., shut down a roller coaster after a crack was discovered in a steel support pillar, park officials said.
The crack was visible in the Fury 325 coaster at Carowinds almost a week ago, according to a visitor’s photos shared on social media. On Friday, video of the fissure appeared to show that the pillar had become fully severed.
Carowinds said in a statement that all rides are inspected daily. But it wasn’t until Friday that the park closed Fury 325 for inspection. Read Article
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Roller Coaster Riders Were Trapped Upside Down for Hours After Mechanical Failure |
NPR – Emily Olson
A summer amusement turned into a serious nightmare on Sunday, after a roller coaster malfunctioned in midair, trapping eight passengers upside down for several hours.
The oscillating Fireball was just sliding down from its vertical loop at the Forest County Festival in Crandon, Wis., when it stopped unexpectedly because of a mechanical failure, according to a joint press release from the local fire department and rescue squad.
Emergency personnel were dispatched to the scene within 15 minutes but needed to request special equipment, including three ladder trucks, from nearby towns to complete the rescue. One truck with the capability of rising over 100 feet took approximately 45 minutes to arrive on the scene. Read Article
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Tesla to Provide More Info on its Driver Alert System Amid Autopilot Probe |
Tech Crunch – Rebecca Bellan
U.S. regulators have requested more information from Tesla to assist in their ongoing investigation into 830,000 Tesla vehicles that include Autopilot, the automaker’s advanced driver assistance system.
The National Highway Traffic Safety Administration (NHTSA) sent Tesla a letter on July 3 seeking updated responses to questions it had asked in August 2022. Those were specifically related to Tesla’s cabin camera and driver monitoring system, which the automaker says can determine if a driver isn’t paying attention and send them noise alerts as a reminder to keep their eyes on the road while Autopilot is engaged. NHTSA also asked for information about how Tesla generates its quarterly safety reports. Read Article
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One-Piece Flow Doesn’t Fit All (or Even Most) |
IndustryWeek - Rick Bohan, Ron Jacques
Exceptions are actually the rule for this widely accepted process improvement strategy.
One-piece flow (OPF) is axiomatic among lean practitioners. We’ve all seen the illustrations (like this one) that show the advantage of one-piece flow. There are several of this sort of animated illustrations around (here’s another). They all make the same comparison: Moving a batch of pieces through several process steps is contrasted with moving one piece at a time through several process steps. The “one-piece flow” version always wins. Read Article
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Tackling Resistance with the People Principle of Change |
IndustryWeek - David Rizzardo
During a lean transformation, pushback is part of the process.
Resistance to change during a lean transformation is inevitable. Let’s not be surprised when it surfaces. It’s part of the process. There are several root causes, including a lack of understanding, various fears that stifle action and the fact that our brains are hardwired to resist change.
No single countermeasure addresses all the root causes of resistance. However, I subscribe to a people principle of change that goes a long way in engaging the hearts and minds of team members: People don’t usually resist what they helped to create. Read Article
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The Sun’s Activity Could Peak 2 Years Early, Frying Satellites and Causing Radio Blackouts by the End of This Year, Experts Say |
Business Insider – Jessica Orwig, Morgan McFall-Johnsen
The sun is becoming more active and may reach peak activity sooner than expected.
Solar maximum was predicted to happen in 2025, but sunspot activity has changed that.
An unusual burst of sunspots this year suggests solar maximum could hit by the end of 2023. Read Article
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Scientists Are Getting Kinda Anxious About a Pothole in Space |
Popular Mechanics – Jackie Appel
The Earth’s magnetic field protects us, and our orbiting tech, from the worst effects of the Sun’s energetic rays.
In a region called the South Atlantic Anomaly, however, the magnetic field is significantly weaker than over the rest of the planet.
NASA is tracking the anomaly, and researchers believe it may have popped up in our sky before.
Earth’s magnetic field is incredibly important to life on our planet. Beyond allowing for compass navigation and displaying the Aurora Borealis way up north, it is responsible for shielding us from the worst effects of the Sun’s rays. A little bit of Sun, we need—a lot would have some serious negative impacts. Read Article
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Can You Solve It? The Simple Question Almost Everyone Gets Wrong |
The Guardian
Today’s puzzles are an intelligence test for children invented a century ago by an American psychologist, Grace Arthur.
You will be presented with a patterned square. The challenge is to work out how to create this square by placing some of the available stencils and coloured blocks on top of each other.
Easy, right? About 90 per cent of people (including adults) get this first example wrong: Read Article
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From Progress to Bans: How Close Are Human Microchip Implants? |
Government Technology -Dan Lohrmann
A lot has happened in the past 12 months regarding human microchip implants. Here’s your roundup of recent developments.
A headline from The Hill in January 2023 proclaimed “Human microchip implants take center stage.”
Here’s how that article begins:
“The novelty of replacing one’s ‘home key’ with a microchip implant is gaining worldwide interest, but there’s another more compelling story under the surface. Why is this technology — an integrated circuit the size of a grain of rice — reviled by some and celebrated by self-proclaimed human cyborgs? Read Article
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Honeybee Deaths Rose Last Year. Here’s Why Farmers Would Go Bust Without Bees |
NPR Morning Edition – Allison Aubrey
If you like to eat blueberries, apples, almonds and other fruits that require pollination, you can thank a honeybee. Farmers could not grow these crops without the essential service bees provide.
“We depend on honeybees for our existence,” says Hail Bennett of Bennett Orchards in Frankford, Del., which has just opened its fields to u-pick visitors for peak season. Read Article
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Nearly Half of U.S. Tap Water Contains ‘Forever Chemicals’ or PFAS. Who is Most at Risk? |
Market Watch – Rachel Koning
The U.S. Geological Survey studied unregulated private wells alongside public sources and flagged urban areas in the Great Plains, the Great Lakes, parts of California and along the Eastern Seaboard as the riskiest
At least 45% of the tap water in the U.S. is estimated to have at least one type of the “forever chemicals” that researchers have linked to cancer, low birth weight and thyroid disease, a new national study from the U.S. Geological Survey released this week shows.
The agency claims it’s the first comprehensive study of its kind to look at both unregulated private wells and government-monitored public water sources and can give consumers new information about the risks of perfluoroalkyl and polyfluoroalkyl substances, known as PFAS, or “forever chemicals.” Read Article
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Studying the Link Between the Gut and Mental Health is Personal for This Scientist |
NPR Shots – Joanne Silberner
Sixteen years ago, when Calliope Holingue was in high school, she had a problem. Two, actually. She developed gastrointestinal symptoms severe enough to force her to give up running, plus she had a long history of anxiety and obsessive-compulsive disorder.
“And I wondered if maybe there was a link between my mental health and the GI symptoms I was experiencing,” she recalls now. Read Article
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Earth Has Tilted 31.5 Inches. That Shouldn't Happen. |
Popular Mechanics - Tim Newcomb
In less than two decades, Earth has tilted 31.5 inches. That shouldn't happen. So why did it?
Humans pumping groundwater has a substantial impact on the tilt of Earth’s rotation.
Additionally, a new study documents just how much of an influence groundwater pumping has on climate change.
Understanding this relatively recent data may provide a better understanding of how to help stave off sea-level rise. Read Article
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Plastic is Suffocating Coral Reefs — and It's Not Just Bottles and Bags |
NPR All Things Considered - Ari Daniel
Finding new species of fish was the goal when marine biologist Hudson Pinheiro was diving in the Verde Island Passage in the Philippines. And he found them. But while he was down there, he found something else that was deeply troubling: plastic — loads of it smothering the coral reef where the fish were living.
"It's sad," Pinheiro, currently a researcher with the University of São Paulo, told NPR. "It's super, super sad."
Pinheiro expanded his research focus beyond fish to the plastics they live with. Of particular interest to him: The kinds of plastics covering the reefs and how they were impacting the health of the corals and their fish communities. Read and Hear Article
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How to Remove PFAS “Forever Chemicals” From Your Colorado Tap Water Without Breaking the Bank |
NPR – Colorado Sun
A recent USGS study sampling hundreds of drinking water sources around the nation found at least one PFAS “forever chemical” in 45% of samples. Some had more than one of the potentially toxic chemicals. But there are ways to filter them out. (USGS)
The best time for a helpful consumer guide from experts is right after a consumer scare from experts. Environmental Working Group and the U.S. Geological Survey have come through on both regarding the dangers from PFAS “forever chemicals” in Colorado and U.S. tap water.
A July study from USGS of hundreds of drinking water agencies and private wells in every state found at least one of the toxic forever chemicals in 45% of samples. The PFAS variants found — there are thousands — included PFOA and PFOS, the limits of which the EPA revised sharply downward this year to four parts per trillion. Read Article
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How Does the Body Adapt to Heat Waves and High Temperatures? |
France24 - Julia Sieger, Science Editor
Heat waves are sweeping across northern hemisphere with record temperatures recorded in the US, Canada, China and Europe. Heatwaves can have a significant impact on the human body, which adapts to counter its hazardous effects. See Video
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Cyber Security And IT News |
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Dangerous Android Trojan Targets 600 Banking Apps — and It’s Draining Accounts |
MSN – Tom’s Guide, Anthony Spadafora
Android smartphone owners are once again under attack from the dangerous Anatsa banking trojan which has been updated with new capabilities and can now target even more banking apps.
As reported by BleepingComputer, this new mobile malware campaign has been active since March of this year and so far, banking customers in the U.S., U.K., Germany, Austria and Switzerland have been targeted by Anatsa.
Just like during a previous Anatsa campaign from back in November 2021 which saw the malware downloaded over 300,000 times, the hackers behind this new campaign are using malicious apps hosted on the Google Play Store to infect vulnerable Android smartphones. Read Article
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MOVEit Vulnerability Ensnares More Victims |
Cybersecurity Dive – Matt Kapko, Reporter
Some organizations have been impacted due to their direct use of MOVEit while others have been exposed by third-party vendors.
Fallout from Clop’s mass exploit of a zero-day vulnerability in Progress Software’s MOVEit file transfer service continues to ensnare additional victims. The prolific ransomware actor is listing new compromised systems on its leak site daily and some organizations are still disclosing breaches.
At least 108 organizations, including seven U.S. universities, have been listed by Clop or disclosed as having been impacted thus far, according to Brett Callow, threat analyst at Emsisoft.
The University of California, Los Angeles, is the latest organization to disclose a breach of its MOVEit platform. The school’s IT security team discovered malicious activity on June 1, a spokesperson told Cybersecurity Dive. Read and Hear Article
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LetMeSpy Data Leak Reveals Users of Digital Stalking Software |
MSN – Daily Dot, Mikael Thalen
Adata leak from a consumer-grade spyware company exposed the email addresses of its users as well as the call logs and messages of those targeted for surveillance.
The Poland-based business, known as LetMeSpy, admitted in a statement on its website that a “security incident” was found to have taken place on June 21.
“As a result of the attack, the criminals gained access to e-mail addresses, telephone numbers, and the content of messages collected on accounts,” the company wrote.
LetMeSpy allows users to track not only communication data but the GPS location of any Android device that its app has been installed on. Read Article
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AI Linked to New Crop of Business Email Scams |
CFO Dive – Alexei Alexis, Reporter
Dive Brief:
- Generative artificial intelligence tools such as ChatGPT could be aiding the proliferation of more convincing email scams aimed at stealing money from businesses, according to cybersecurity firm Fortra.
- In the first quarter of 2023, threats in corporate inboxes hit new highs with a quarter of all reported emails classified as malicious or untrustworthy, Fortra said in a recent report. Nearly all of these threats (99%) were classified as impersonation attacks.
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Fraudsters appear to be turning to generative AI to assist them in crafting well-written email messages at scale — without the poor spelling and grammar that has historically been associated with scams, John Wilson, a threat research senior fellow at Fortra, told CFO Dive. Recent evidence also suggests that scammers may be relying on AI to perform language translation, he said. Read Article
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The 5 Most Disturbing Ways AI is Currently Being Used |
Laptop Magazine – Rael Hornby
Artificial Intelligence — it’s brilliant, isn’t it? I love AI so much I want ChatGPT to adopt me and tell me it’s proud. That’s the kind of innocent wholesome experience I want with AI, anyway. Unlike most of the disturbing things your average rotter would get up to if given the chance.
And that’s the problem, they have had the chance. In fact, at this very minute, beyond the surface layer applications of AI being used in software like Midjourney or Meta MusicGen to make us all feel like Pablo Picasso or Rick Rubin, there are nefarious forces at play doing all sorts of wrong with the same tech that powers even Microsoft’s lovable AI chatbot, Bing Chat.
So readers, let’s hop aboard the Good Ship Laptop and sail our way down a river of doom and gloom, chowing down on black pills as if they were Skittles along the way. Let’s do away with the glamor and gloss that is our supposed co-existence with AI. Read Article
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Dangerous New Infostealer Targets Top Password Managers |
Tech Radar – Lewis Maddison
Anew Windows infostealer is on the loose, stealing highly sensitive information and featuring clever ways to evade detection by security software.
Known as the Meduza Stealer, its sole purpose is “comprehensive data theft,” according to cybersecurity researchers at Uptycs who discovered the malware, as it scours “users’ browsing activities, extracting a wide array of browser-related data.”
The security firm added that crypto wallet extensions, password managers and 2FA extensions are also vulnerable. In order to avoid detection, Meduza terminates itself if connection with the threat actor’s server fails. Read Article
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Japan’s Largest Port Shut Down By Ransomware Attack |
IndustryWeek – Dennis Scimeca
A ransom demand to restore systems at the Port of Nagoya, from which Toyota Motor Corporation ships parts and vehicles, followed shortly after a successful cyberattack.
If Toyota Motor Corp. had plans to ship auto parts on Wednesday, cyberattackers put the kibosh on that by shutting down the Port of Nagoya, Japan’s largest port, from which Toyota also exports most of its vehicles.
Nikkei Asia reports that a system glitch preventing container loading and unloading effectively shut the port down on Wednesday. Police reported that cyberattackers made a ransom demand in exchange for system recovery, with the message delivered off a printer at the port. Read Article
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Hackers Using TrueBot Malware for Phishing Attacks in US, Canada, Officials Warn |
Cybersecurity Dive – David Jones, Reporter
Dive Brief:
- Federal authorities are warning that hackers are leveraging TrueBot malware, also known as Silence Downloader, in phishing attacks against U.S. and Canadian targets, officials including the FBI and Cybersecurity and Infrastructure Security Agency said Thursday.
- Since late May, malicious actors have been exploiting a known vulnerability in Netwrix Auditor, identified as CVE-2022-31199, for initial access to deliver new TrueBot variants and steal data from targeted entities.
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Authorities describe TrueBot as a botnet that groups like the Clop ransomware gang use to collect and exfiltrate data from organizations. Read Article
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U.S. is Barred From Combating Disinformation on Social Media. Here’s What it Means |
NPR – Laurel Wamsley, Shannon Bond
The government’s ability to fight disinformation online has suffered a legal setback that experts say will have a chilling effect on communications between federal agencies and social media companies.
A Tuesday ruling by a federal district judge in Louisiana could have far-reaching consequences for the government’s ability to work with Facebook and other social media giants to address false and misleading claims about COVID, vaccines, voting, and other issues that could undermine public health and erode confidence in election results.
District Court Judge Terry Doughty, who was appointed by President Donald Trump, issued a preliminary injunction on Tuesday that bars several federal departments and agencies from various interactions with social media companies. Read Article
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These Android Apps are Sending Data to China: Report |
NewsNation – Liz Jassin
Cybersecurity firm Pradeo discovered the malicious apps, which are titled “File Recovery and Data Recovery” and “File Manager.” The apps, both disguised as file management apps, have been installed more than 1.5 million times.
“They are programmed to launch without users’ interaction, and to silently exfiltrate sensitive users’ data towards various malicious servers based in China. We have alerted Google of the discovery before publishing this alert,” Pradeo wrote in a blog post.
The apps collect “very personal data from their targets, to send them to a large number of destinations which are mostly located in China and identified as malicious,” according to Pradeo. Read Article
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HCA Healthcare Reports Breach of 11 Million Patients’ Personal Data |
TechCrunch – Zack Whittaker
U.S. healthcare giant HCA Healthcare says about 11 million patients’ data may have had their data stolen after a posting on a known cybercrime forum claimed it was selling the data.
In a website notice, HCA confirmed that the data includes “information used for email messages, such as reminders that patients may wish to schedule an appointment and education on healthcare programs and services.”
HCA said the data includes patient names; address data, such as city, state and ZIP code; patient email addresses; phone numbers; dates of birth; gender; and patient service dates, such as locations, and details about next appointments. Read Article
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Why Do Cybercriminals Love Manufacturers So Much? |
IndustryWeek - Dennis Scimeca
And will the problem ever stop getting worse?
I am regularly inundated with cybercrime reports, and they all have at least two data points in common: ransomware is one of the most popular attack types used by threat actors (read: cybercriminals), and the manufacturing industry is one of the most popular targets for ransomware attacks.
Verizon’s 2023 Data Breach Investigations Report (DBIR) contains a wealth of well-presented information including explainers for anyone interested in cybersecurity, and it validates these points. Ransomware was present in 15.5% of all cybercrime incidents included in the study, with only denial of service (DoS) attacks topping it on the list. And where an incident resulted in a successful breach, 24% of those breaches involved a ransomware attempt, second only to use of stolen credentials. Read Article
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RomCom Uses Word Documents in New Phishing Campaign, Microsoft Warns |
Cybersecurity Dive - David Jones, Reporter
The hackers are known to use trojanized versions of legitimate software from Adobe, SolarWinds, KeePass and others.
Microsoft is warning about a phishing campaign from the threat actor known as RomCom that is targeting the defense industry and government entities in Europe and North America.
Attacks have also targeted the telecom and financial sectors.
RomCom is abusing a zero-day vulnerability, CVE-2023-36884, involving specially crafted Microsoft Word documents. Read Article
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Security Warning: Someone Can Clone Your Voice for $4 |
Komando.com – Kim Komando
When I read this story, I was amazed and frightened. The tech is phenomenal — but it can be misused. When Mia Dio’s boyfriend Billy started acting strangely, she did some digging. She paid only $4 for voice-cloning software, uploaded Billy’s voice and trained it to talk like him.
Then she called his best friend, Jake. The result? A viral video with 2.6 million views in which the AI “Billy” tells Jake he made out with a girl at a bar before he crashed on the couch.
Here’s the twist: It was a prank and Mia was the one who dreamed it up. Read Article
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Documentary - Directed by Shalini Kantayya
Coded Bias exposes prejudices and threats to civil liberty in facial recognition algorithms and artificial intelligence.
ABOUT THE DOCUMENTARY
In an increasingly data-driven, automated world, the question of how to protect individuals’ civil liberties in the face of artificial intelligence looms larger by the day. Coded Bias follows M.I.T. Media Lab computer scientist Joy Buolamwini, along with data scientists, mathematicians, and watchdog groups from all over the world, as they fight to expose the discrimination within algorithms now prevalent across all spheres of daily life.
While conducting research on facial recognition technologies at the M.I.T. Media Lab, Buolamwini, a “poet of code,” made the startling discovery that some algorithms could not detect dark-skinned faces or classify women with accuracy. This led to the harrowing realization that the very machine-learning algorithms intended to avoid prejudice are only as unbiased as the humans and historical data programming them.
Coded Bias documents the dramatic journey that follows, from discovery to exposure to activism, as Buolamwini goes public with her findings and undertakes an effort to create a movement toward accountability and transparency, including testifying before Congress to push for the first-ever legislation governing facial recognition in the United States and starting the Algorithmic Justice League. The film also includes data journalist Meredith Broussard; Silkie Carlo, director of Big Brother Watch, who is monitoring the trial use of facial recognition technology by U.K. police; Virginia Eubanks, author of Automating Inequality; Ravi Naik, human rights lawyer and media commentator; Dr. Safiya Umoja Noble, author and expert on algorithmic discrimination and technology bias; and Zeynep Tufekci, author of Twitter and Teargas. See Preview
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Clear vs. TSA PreCheck: What’s Better for Price and Privacy? |
The Washington Post - Tatum Hunter
Clear saves you time at the airport. Just make sure to read the fine print.
With air travel returning to pre-pandemic highs, you might be tempted to pay for a service that lets you skip the security line.
Clear fits the bill: The $189-per-year subscription lets you walk straight to the front. Just make sure you read the fine print.
Airport security is, by nature, at odds with individual privacy. The Transportation Security Administration (TSA) has been criticized for unfairly singling out Middle Eastern travelers and trans people, and now it’s in the spotlight again for expanding its controversial facial-scanning program. Clear, which says it has more than 16 million members accounting for 10 percent of travelers at the airports where it operates, works like the TSA’s PreCheck program by letting subscribers move through security more quickly. But the service comes with some concerns for consumers. Read and Hear Article
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Microsoft Attackers May Have Data Access Beyond Outlook, Researchers Warn |
Cybersecurity Dive - David Jones, Reporter
Microsoft is pushing back on claims by Wiz that compromised private encryption keys may have exposed SharePoint, Teams and OneDrive data to an APT actor.
Dive Brief:
- The China-linked threat actors behind the theft of U.S. State Department and other Microsoft customer emails may have gained access to applications beyond Exchange Online and Outlook.com, according to a report released Friday by Wiz.
- Researchers said the compromised private encryption key may have allowed the hackers to forge access tokens for multiple types of Azure Active Directory applications, including SharePoint, Teams and OneDrive.
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“Many of the claims made in this blog are speculative and not evidence based,” a spokesperson for Microsoft said via email. “We recommend that customers review our blogs, specifically our Microsoft Threat Intelligence blog, to learn more about this incident and investigate their own environments using the indicators of compromise we’ve made public.” Read Article
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Human Resource Management News |
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26% of Workers Are Seeking New Jobs |
EHS Today – Staff
Reasons for leaving include feeling overworked (44%) and struggling to pay the bills every month (38%).
Keeping employees in their seats and on the factory floor continues to be a challenge.
That overused term, “The Great Resignation”, marches on as demonstrated by a study, 2023 Global Workforce Hopes and Fears Survey, released on June 20 by PwC. The report found that one in four (26%) employees say it is likely they will change jobs in the next 12 months, up from 19% last year.
Workers who said they are most likely to change employers include those who feel overworked (44%), struggle to pay the bills every month (38%), and Gen Z (35%).
Purpose, company culture and inclusion also remain key concerns. Among workers who said they are likely to change employers, less than half (47%) said they find their jobs fulfilling compared to 57% of those unlikely to change employers. Read Article
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Honeywell Settles HR Director’s Age Bias Claim |
HR Dive – Caroline Colvin, Reporter
An ex-HR director for Honeywell alleged the company sabotaged his employment because of his age.
Honeywell has agreed to settle an age bias lawsuit filed by a former senior HR director for the company, according to court documents filed Monday.
The HR pro, represented by Ogletree, Deakins, Nash, Smoak and Stewart filed, suit in April. Initially, the plaintiff claimed, he received positive feedback and acclaim for his job performance when he joined the company in mid-2020. The new supervisor to which the plaintiff reported in December 2020 rated his performance as substandard, refused him an improvement plan, asked him to train a young replacement and fired him in March 2021. Read Article
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Exclusive: Nissan Installed Camera to Monitor No. 2’s Home, Sources Say |
Reuters – Daniel Leussink and Norihiko Shirouzu
June 28 (Reuters) – Nissan (7201.T) installed a camera surveillance system at the home of former executive Ashwani Gupta so the automaker’s internal security team could monitor him, according to the preliminary findings of an investigation into the surveillance, two people with knowledge of the report said.
Nissan has been investigating a claim that Chief Executive Makoto Uchida carried out surveillance of the carmaker’s second- in-command to acquire leverage to remove him from the company because of Gupta’s opposition to some terms in a new partnership deal with Renault (RENA.PA), Reuters reported on Saturday. Read Article
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How to Position Your Organization Ahead of FTC’s Noncompete Rule |
CFO Dive – Robert Freedman, Lead Editor
Even without knowing what the Federal Trade Commission’s final noncompete ban will look like, there are steps GCs can take to be ready.
It’s unclear what the final noncompete rule will look like when it’s released by the Federal Trade Commission, but by getting a handle on your trade secrets now and knowing who among your employees needs to sign confidentiality or non-solicit agreements, you can best position yourself for the new regulatory landscape, attorneys say.
The FTC in January proposed a ban on noncompetes as part of the Biden Administration’s sweeping antitrust agenda to protect the labor market from artificially low compensation that can result from widespread use of the agreements. Read Article
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OSHA Electronic Recordkeeping Rule to Take Effect in 2024 |
HR Dive – Ryan Golden, Senior Reporter
The rule will require employers with 100 or more employees to submit information from Forms 300 and 301 once per year.
Dive Brief:
- The Occupational Safety and Health Administration published Friday its final electronic recordkeeping rule requiring employers with 100 or more employees in certain industries to submit information from the agency’s Forms 300 and 301 once per year.
- OSHA’s rule also updates its system for determining which industries are subject to the information submission requirement. In a departure from the proposed rule, OSHA has retained the requirement for employers with 250 or more employees to electronically submit information from Form 300A once per year. Additionally, employers with 20 to 249 employees in certain designated industries will continue to be required to electronically submit information from Form 300A once per year.
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Per the rule, the agency will post data gathered via these submissions on a public website, with identifying information — such as employees’ names and contact information — removed. The final rule is effective Jan. 1, 2024. Read and Hear Article
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45% of Worker Stress is Due to Job Instability: Weekly Stat |
CFO.com - Adam Zaki, Reporter
Most workers say employers are falling short in managing stress successfully despite spending on wellness benefits.
The best builders and leaders, especially CFOs, find ways to use the tools they have at hand to succeed. For leaders within corporate finance, the two most important tools, arguably now of equal importance, are people and technology. How these two components of the business are managed are crucial to success, especially for those eager to take larger strides in attempts to achieve growth.
Besides identifying what employees are thinking about in both the short and long term, finding the root cause of their stress-inducers may help create a more positive work environment. With nearly half (45%) of employee stress coming from a lack of job security, according to a new survey of 2,500 business professionals from recruitment firm Robert Walters, leaders who wish to showcase their desire to retain talented employees may be best off doing it now. Read And Hear Article
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How Incomplete Benefits Packages ‘Rob’ Workplaces of Talent |
HR Dive - Caroline Colvin, Reporter
Researchers at BSI presented workplace flexibility as the key benefit integral in older women’s success.
From the missing middle rung to the “2nd glass ceiling,” labor experts and equality advocates have long looked for ways to fill the gaps of women’s advancement in the workplace. Jacob Lund via Getty Images
Since the onset of the COVID-19 pandemic, labor experts and equality advocates have honed in on the virus’ effect on the future of work in particular regard to women. But coronavirus isn’t only to blame.
Childcare-related attrition from the workforce — and complications therein — have long existed. The lasting effects of this gender-specific burden were spotlighted in research firm British Standards Institute “Lifting the Second Glass Ceiling” survey. Read and Hear Article
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USCIS Announces New Form I-9, Will Allow Permanent Remote Review for E-Verify Users |
HR Dive - Ryan Golden, Senior Reporter
The new Form I-9 will be available for use Aug. 1, and eligible employers may use the remote review alternative that same day.
The U.S. Department of Homeland Security’s Citizenship and Immigration Services announced Friday the forthcoming publication of an updated Form I-9, used by employers to verify the identity and employment authorization of employees. The new form will become available Aug. 1.
Additionally, the agency published a final rule — effective the same day as the new form’s release — amending its regulations to permit the secretary of homeland security to authorize “alternative document examination procedures” as an alternative to in-person, physical review by employers. Read Article
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Environmental, Health & Safety News |
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Making Work Better for Workers: Ergonomics in Action at Magna International |
IndustryWeek - Ryan Secard
A look at how advanced computing technology is improvingg work for human bodies.
Despite the sometimes-breathless promises of artificial intelligence, manufacturing relies and will continue to rely on human laborers, who are—for now—still often more capable and less expensive than robots. But that doesn’t mean manufacturers should ignore the impact new technology can have on talent. According to two engineers at Magna International, the science of ergonomics combined with advanced technology can come together to make work more comfortable and less dangerous for human workers.
Areta Lok, lead ergonomics engineer for Magna Body and Chassis, says ergonomics is essentially the study of human interactions with objects and environments—in Magna’s terms, objects like tools, and environments like part-picking stations. To ground this, Magna internally refers to ergonomics engineering as HFE or Human Factors Engineering. Read Article
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Execs Want Companies to Report Workforce Well-being Metrics |
EHS Today - Staff
"Economic value is fundamentally intertwined with employee well-being , and that's why human sustainability should be at the top of every corporate agenda."
Improving the well-being of employees has been a goal of most companies. But it's still a struggle according to Deloitte's Well-Being at Work Study, The recent report revealed that that employee well-being has worsened across all dimensions.
The authors of the report advise that moving forward will require a strong focus on "delivering immediate impact but ultimately should shift toward a more long-term view — one that prioritizes people over profits. To achieve this, leaders should increase their support for their managers, and they also should hold themselves and their organizations more accountable."
Accountability is something that the C-suite is ready to do as 85% feel organizations should be required to publicly report their well-being metrics, for example in their annual reporting. However, only around half say their company is currently doing this. Read Article
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Cost of Benefits Strain Employers and Workers Alike |
HR Dive – Emilie Shumway, Editor
Shot of a young businesswoman looking stressed while using a laptop during a late night at work.
Dive Brief:
- The rising cost of benefits — and the insufficiency of their support in covering employee costs — are straining both employers and workers, a report from Aflac has shown. Three in 4 employers responding to a survey said their benefits costs went up in the last year, naming prescription drug costs and an increased need for mental healthcare and medical appointments as factors.
- Of all challenges when it comes to employee engagement and satisfaction, employers named providing a competitive total compensation package as their No. 1 struggle, with 47% picking this option — topping training and development (40%), implementing tech solutions (38%) and offering optimal flexible work arrangements (37%).
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Despite employers’ desire to offer competitive benefits, they remain overconfident in employees’ satisfaction with and understanding of their benefits packages, the Aflac report showed, with a 22% gap between employer assessment of employee satisfaction and employees’ own reporting. Employees said they had to make difficult financial decisions about healthcare, with 21% saying they had to decide between healthcare or paying a bill, 17% reporting difficulty affording a prescription and 15% reporting difficulty affording healthcare recommended by a doctor or specialist. Just under half expressed skepticism they would be well-covered in the event of an extreme illness, and only 1 in 5 thought they would be covered “extremely well. 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 © 2019-23 Proactive Technologies, Inc.™ ALL RIGHTS RESERVED
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EMPLOYERS!
If your organization sees training as a cost, not as an investment, maybe you should consider another approach!
- Cuts the employer's internal costs of training;
- Lowers the costs associated with turnover;
- Drives new-hires and incumbent workers to "full job mastery;"
- Increases worker capacity, work quality, productivity and compliance (ISO/AS/IATF training and records requirement, engineering specifications and safety mandates);
- Creates framework for cross-training, retraining and worker certification;
- Establishes the framework for employer specific/job-specific apprenticeships and internships - registered or not;
- Builds career development tracks and succession plans for hourly (and salary) workers;
- Ensures the increased and maintained "Return on Worker investment" through any type of change...
ALL OF THIS FROM ONE APPROACH!
This structured on-the-job training is performed where, and while, the work takes place!
You need no additional staff, and this will not disrupt your work schedule or burden your existing staff!
If your firm is partnered with local career and technical educational institutions, use of shared employer's equipment, facilities and paid wages of trainer(s) and trainee(s) are attractive match for potential grant assistance.
for more information.
Copyright © 2019-23 Proactive Technologies, Inc.™
ALL RIGHTS RESERVED
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Copyright © 1988 - 2023 Proactive Technologies, Inc.TM
ALL RIGHTS RESERVED
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