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How to Revitalize U.S. Manufacturing

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How to Revitalize U.S. Manufacturing Nine policies that could spark new growth in factory jobs and the economic benefits they bring By Bob Tita June 7, 2016 10:05 p.m. ET   After a long decline, manufacturing is returning to the U.S. Now it may be time for U.S. policy makers to give it an extra boost.   The U.S. shed 5.7 million manufacturing jobs from 2000 to 2010—more than a third of the manufacturing workforce—as companies abandoned plants and workers in favor of low-cost foreign countries. But in recent years, manufacturing employment has grown slightly as the auto industry rebounded and domestic plants became more cost-competitive with those of other countries where manufacturing expenses have escalated because of higher wages.   Now researchers, politicians and business leaders are coming forward with strategies to accelerate job gains and investment in manufacturing. Their ideas range from pruning regulations that raise the cost and effort of running a manufacturing operation to imposing a value-added tax on imports to beefing up training programs so companies have an easier time finding skilled workers.   Reviving the manufacturing sector won’t be easy—but, these advocates argue, it’s crucial. Manufacturing is one of the best generators of wealth for an economy, requiring processes, materials and work skills that create employment and profits at each step in an assembly. Countries that don’t make anything eventually start to lose their edge in research and product development.   “Manufacturing and design drive each other,” says Steven Schmid, an aerospace and mechanical engineering professor at the University of Notre Dame. “If you lose one, you’ll lose the other, too.”   The U.S.’s reliance on foreign-made goods provides a conduit for trillions of dollars to leave the country. The U.S. trade deficit—the difference between what is imported and what the U.S. exports—amounted to $500 billion, or about 3% of total U.S. GDP last year.   That money is used by foreign investors to purchase assets in the U.S., such as real estate or stocks, or to lend to Americans who are increasingly willing to become debt-saddled consumers. Left unchecked, the trade deficit will continue to soak up the country’s wealth and manufacturing know-how, with little more than IOUs to show for it.   Here’s a look at some of the proposed strategies for getting U.S. manufacturing back on track. Make exports more valuable   Under a plan promoted by investor Warren Buffett, companies that export goods from the U.S. would accumulate certificates equal to the value of their exports. But companies that wanted to import goods would have to purchase certificates from exporters.   The certificates, the thinking goes, would create two desired reactions. U.S. exporters, with a cash cushion from the sale of their certificates, could offer U.S.-made goods to foreign customers at lower prices, making them more competitive and shrinking the trade deficit over time. Meanwhile, foreign-made items imported into the U.S. would become more expensive to reflect the cost of import certificates, making U.S.-made goods more cost competitive with cheap imports.   As exports increase, though, more certificates would flow into the market, and their cost for importers would fall. The price could eventually slip to zero if a trade surplus was achieved.   The appeal of this approach: It’s a more decisive way to knock down the trade deficit than waiting for U.S. exports to become more desirable over time, perhaps from a weaker dollar. And unlike standard tariffs, which typically penalize a specific product from a particular country, the certificates provide a direct and immediate benefit to U.S. companies that export.   The downside, initially at least, is that Americans would face higher prices for imported consumer items. So, the plan would likely be a tough sell in Washington. Impose a value-added tax   A similar idea for lowering the trade deficit is imposing a value-added tax. The tax, which is used by more than 130 countries, is applied to each step along a production chain as a product or material increases in value or is consumed. How does this help domestic... Read More

DETROIT BUSINESS LEADER OFFERS REAL HOPE FOR JOB SEEKERS “Debut Book, “The Job Search Process” Opens Up Career Opportunities to Everyone”

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DETROIT BUSINESS LEADER OFFERS REAL HOPE FOR JOB SEEKERS “Debut Book, “The Job Search Process” Opens Up Career Opportunities to Everyone”   Troy, Mich. (December, 21, 2015) – Todd Palmer is a renowned thought leader and top staffing and recruiting executive who is committed to improving lives. As a successful leader who has spent years building up a multi-million dollar recruiting & staffing firm, Palmer is now setting his sights on even loftier goals – helping others find meaningful work and expanding their career opportunities through the release of his new book.   Just in time for December graduations or those New Year resolutions that involve a job change or career growth, Palmer’s debut book, “The Job Search Process”, provides a practical, targeted guide to landing a new job in only 30 days. This latest work has already been nominated for both the Axiom Book Award and the Ben Franklin Business Book Award for 2016.   In this career primer, Todd reveals the secrets that prevent many job seekers from landing a new position, while providing a call to action for all career-minded people: “Most people have blind spots when it comes to looking at themselves, their skillsets, and their job expectations. Jobs are closely tied to our identity, and often have a great impact on our self-worth. My goal is to help each and every job seeker overcome their fears and concerns, and attain the job they desire.”   In my book, I teach people the basics, not just the WHERE, WHAT and WHEN, but the HOW: How to find job openings How to write a resume How to excel in the interview and finally How to “get” the job     I also provide them with a Killer close, guaranteed to get almost any job.”   “The Job Search Process” is a very practical tool for becoming more self-aware, while maximizing job search efforts, preparing for interviews and landing that prized position. As an expert in staffing and recruiting, the author knows what it takes to be successful from both sides of the interview table.   Palmer notes, “I tried to write a book that is easy to understand and gives people a simple process to follow. It’s a culmination of everything I’ve learned from a successful career in helping people find and land the job they really want.”     More information about “The Job Search Process” and author Todd Palmer may be found on www.thejobsearchprocess.com.  Palmer’s book is available at amazon.com and other major online booksellers.... Read More

Explore Careers In Manufacturing & Technology During RET Evening on Dec 2

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We recently shared how Michigan’s manufacturing industry is currently booming and our state has two cities ranked in the ‘Top 5’ for advanced manufacturing and engineering jobs. To help spread the good word and educate more people looking for work about the benefits of a stable, fulfilling skilled trades career, we’re participating in the RET Evening, part of Macomb Community College’s Robotics, Engineering & Technology Days. The inaugural event features a host of representatives from local technical manufacturing companies, all speaking on the job skills required in their workplace and what they look for in potential candidates. The current companies registered are: · Brose North America, Inc. · Cougar Cutting tools · Ferris State University · Fiat Chrysler Automobiles · Ideal Technology Corporation · KUKA (part of Day event and hands-on exhibits) · MAT2 (part of Day event and hands-on exhibits ) · MiWorks! · Proper Group International · The Paslin Company · US Farathane In addition, there will be tables from: · Macomb Community College: Career Services · Macomb Community College: C4K – College for Kids (part of Day event) · Macomb Community College: Engineering & Advanced Technology – inclusive of WCE (part of Day event and hands-on exhibits) · Macomb Community College: Recruitment (part of Day event) · The Center for Advanced Automotive Technology (part of Day event and hands-on exhibits) The free event takes place on Tuesday, December 2 from 5:30 – 8:30PM at Macomb Community College, Sports & Education Center. Doors open at 5:30, but the event starts at 6:00. Please share with family, friends, industry, schools, etc. and encourage attendance. To learn more about the RET Evening and take the next steps towards taking on a reliable, long-term career, head to their website and register to... Read More

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