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Speaking of Precision is a knowledge preservation and thought leadership blog covering the precision machining industry, its materials and services. With over 36 years of hands on experience in steelmaking, manufacturing, quality, and management, Miles Free (Milo) Director of Industry Research and Technology at PMPA helps answer "How?" "With what?" and occasionally "Really?"

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Manufacturing Jobs: Separations vs. Hires

Posted October 23, 2012 12:00 AM by Milo

We like graphs because they tell the story without spin.

These trends are NOT being adequately discussed on the news.

Three out of three indicators agree, openings and hires are down, while separations are increasing sharply.

The Bureau of Labor Statistics (BLS) reported that the number of manufacturing job openings dropped from 273,000 in July to 255,000 in August.

This is its lowest level since December 2011, with job postings declining for three straight months.

The other big headline for manufacturing is that net hiring turned negative. The BLS employment report (link to NAM summary) showed that manufacturing jobs decreased in September for the second consecutive month.

In August, manufacturers hired 233,000 workers, down from 244,000 in July. This number is the lowest since June 2009.

At the same time, separations rose from 228,000 to 248,000. Separations include layoffs, quits and retirements.

This suggests net separations of 15,000 workers in August, a reversal of the net hiring of 16,000 observed in July.

So when you hear the rosy numbers from the media trying to "educate" you into thinking their way, why not ask them-

"Can I have a graph with that?"

"I'd like a Graph with that."

Fast Food Worker Photo

Graph Courtesy of Chad Moutray, Chief Economist at NAM.

Editor's Note: CR4 would like to thank Milo for sharing this blog entry, which originally appeared here.

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#1

Re: Manufacturing Jobs: Separations vs. Hires

10/23/2012 6:16 AM

</Engineering>

Interesting.

In a parallel, despite high unemployment figures in these islands and the stories spun around this data, the number or people in work here has never been higher. Which isn't newsworthy, apparently.

Bring on the graphs, please.

<Engineering>

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#2
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Re: Manufacturing Jobs: Separations vs. Hires

10/23/2012 8:05 AM

I caught that news note in an aside on Radio 4 last week. Haven't heard it trumpted from the news though Makes sense when you consider the increase in population...

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#3
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Re: Manufacturing Jobs: Separations vs. Hires

10/23/2012 8:16 AM

That was is being talked about over here, but not being press here in the media.

That are gains to employment figures. If its is analyzed, the gains are not keeping up with the population growth.

That is where a chart helps signifcantly.

What makes it worst there are so many numbers and fact checkers........the information or data value is lost. And to compound it, over here is a big election in two weeks............... which will give us less than a week off till they start running again

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#7
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Re: Manufacturing Jobs: Separations vs. Hires

10/23/2012 10:00 AM

When government ministers are creating policies aimed at making >65% of school-leavers "above average", it does make one wonder about all sorts of things....

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#4

Re: Manufacturing Jobs: Separations vs. Hires

10/23/2012 8:46 AM

I think a big part of the problem, is that we have overemphasized college degrees, (in anything), as the sure path to success and financial stability for life, while minimizing the importance of manufacturing and trade work, to second class status.

I think it's high time to get the word out to our young people, that there are plenty of well paying jobs out there just waiting to be filled, and that a two year program at a tech school can get them into these positions.

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#5
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Re: Manufacturing Jobs: Separations vs. Hires

10/23/2012 9:10 AM

Same here. A while back there was a programme that showed that over a lifetime of work, a plumber earned more than a PhD....

In the early 90s, I was talking to a Taiwanese PhD student who told me that because "everyone" in Taiwan went to university, a degree wasn't enough to get a specialist job...and he was going for a foreign PhD because he could see that MSc was no longer enough, and that there needed to be a differentiator for the PhDs too!

It's great to have a well educated population, but when that means no-one will do the essential but not intellectually chanllenging jobs, society has a problem. Also, as you hinted, it's better if the degrees are useful*, not made up ones. You often here people in the media saying they would never employ someone with a media studies degree.

*Arts degrees can also be useful

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#6
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Re: Manufacturing Jobs: Separations vs. Hires

10/23/2012 9:10 AM

That works in cycles, back in the 90's. Engineering firms have recruited heavily on AAS degree (2 year) to fill engineering roles. After an intense interviewing process. But these positions were very hard to be filled with a shortage of competent personnel

I have found that these people, with the right attitude, were very competent, usually maybe because they the responsibility they took, they double check and questioned.

My experience at the time with working with ME with PE licensed they were not very detailed on process concepts to a point of being very questionable on their understanding of even the fundamentals. And I was surprised of the number of these.

That changed, in 200o to say 2009-2010 These same engineering firms pick the highest degree personnel (with Graduate degrees) because there was a great number of selections.

But in the last 2 years, they returned to looking for competency, not so much a B.sC. or a graduate, but someone that is practical, even with an Associates of Applied Science degree (usually a 2 year degree), they would support him/her to acquire their PE licenses. As long as they showed the potential that can be realized. With emphasis in practicality and unfortunately being able to handle a broad range of responsibilities and tasks.

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#8

Re: Manufacturing Jobs: Separations vs. Hires

10/23/2012 10:24 AM

Not sure where the graph went, here it is again.

Milo

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#9

Re: Manufacturing Jobs: Separations vs. Hires

10/23/2012 12:52 PM

You can't un-ring the bell of finding cheap labor and profiting from it, at any cost to future generations.

Our quest for the almighty profit dollar far outweighs any consideration to what will happen to the environment and jobs when our grandchildren start looking for work.

We, collectively, created this monster due to greed. We could still have manufacturing jobs here, if the power brokers had been willing to re-invest instead of hording their profits.

Sure, most of us here aren't high enough on the food chain to have affected this trend directly, but most of us buy products from WalMart, don't we?

We can't have it both ways. The workforce is aging and the next wave of workers won't be willing to shovel dirt or paint houses for a living. They will just live with their aging parents, till they die and leave the house to them.

It's going to take much more honesty, intelligence and sacrifice than any of our present crop of would-be saviors demonstartes before we will suceed.

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#10
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Re: Manufacturing Jobs: Separations vs. Hires

10/23/2012 1:16 PM

Our quest for the almighty profit dollar far outweighs any consideration to what will happen to the environment and jobs when our grandchildren start looking for work.

AS any business just starting off, very few businesses has the luxury of this liberal thinking. People start a business, for a number of reasons, but to keep the business sustainable, it has to be profitable. Because profit is fleeting, I can't say this enough.

And as in any business, if the risk of starting a business isn't enough, if one starts with such lofty ideals as to environment impact (above and beyond the requirement) , break-even type of attitude, generous employee entitlements. If this is in the business plan with out a solid solution, need not to worry, you would not even get a business loan. And if your rich uncle leaves you an inheritance. That money is soon gone, because at one time you may be profitable, it is fleeting.

And no reserve is left because the profits were not 'hoarded'. And was invested in lofty entitlements or unnecessary business expansions or upgrades. This business owner soon does not have to worry. Because, soon, he will be working for someone else.

Lately, probably because of the 'papered profit taking in wall street' there has been instilled in this country an attitude that any kind of 'greed' or 'profit' is evil.

IMO, when you are running a business especially in manufacturing, any kind of profit that is made, is earned. And there is nothing evil about that.

ps

and to retain good, solid and reliable employees, requires a strong, tough but a fair leader running this business. That deserves to be able to recoup profits from the risks he took.

When it is done right, a strong business is also a solid working environment.

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#11
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Re: Manufacturing Jobs: Separations vs. Hires

10/23/2012 4:55 PM

GA. This notion that all businesses are greedy, needs to go away too. Most are just trying to stay alive.

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#12
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Re: Manufacturing Jobs: Separations vs. Hires

10/23/2012 7:22 PM

Easy Grasshopper,

I assumed that you would conclude that I understand that you can't outsource, or is it off-shore, house painting. Ditch digging needs to happen in close proximity to the final location, too.

Businesses the size of yours are not the problem. Your sphere of influence only covers a county or two. You have to re-invest if a spray rig quits, or a shovel breaks.

My beef is with the huge companies, such as my former employer, Motorola, who started sending jobs overseas in the late 70's. I bailed, by choice, in 1988.

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#13
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Re: Manufacturing Jobs: Separations vs. Hires

10/23/2012 8:58 PM

Motorola, who started sending jobs overseas in the late 70's.

There's a cure for that. We just need to see it. Was it not our government that opened up all of these wonderful global trade agreements?

http://www.doingbusiness.org/rankings

http://www.forbes.com/lists/2011/6/best-countries-11_land.html

We really need to wake up and start holding our government culpable for a majority of these failing trends.

Or we can stick with graphs. I love graphs:

http://en.wikipedia.org/w/index.php?title=File:Income_Taxes_By_Country.svg&page=1

It's not just the taxes Lyn. These companies have to spend thousands on entire departments.................just to figure out how much to pay.

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#14
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Re: Manufacturing Jobs: Separations vs. Hires

10/23/2012 9:18 PM

The heads of these companies didn't just wake up one morning, and decide to put themselves through the logistical nightmare of manufacuring their products in other countries. There was a reason. I believe the reason was to remain viable and profitable.

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#15
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Re: Manufacturing Jobs: Separations vs. Hires

10/23/2012 9:31 PM

Interesting enough, my business designed and fabricated OEM dairy process equipment, with 18-24 employees. Located in Wisconsin.for multi billion dollar cheese processing companies.

We had our own installers as well as a road crew. (When not working at the shop). And from Wisconsin our customers were as far west as California, and as far south as Texas.

And I love profit, but initially, there were types that would label this as greedy, those are the uninformed. They never did understand the hidden cost the employee never sees.

Even though I hated to job any work out, I was greedy with the jobs also, initially. An attitude like that, like the one your defending is very unsustainable fiscally as a business.

So until you walk in the shoes of a business owner, I see it as very uninformed.

And I'll tell you why, because poor unsustainable fiscal decisions like that, there are ups and downs with workload. And when you hit a dry spell with orders, do you know how hard its to lay off a good employee, knowing that when it picks up, that same employee will be gone.

you may find it insulting that these jobs are outsourced.

I find it insulting, of the 'Shang gri la' opinions against outsourcing, but there is a consistency with the people who is against it.

They are usually the people that never owned a business that made personal sacrifices, to keep the business solvent, to keep the its employees.

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#16

Re: Manufacturing Jobs: Separations vs. Hires

10/23/2012 11:42 PM

Any Capitalist worth his wealth is well aware of the fact that hoarded wealth will quickly lose it's value- capital is meant to be put to work, such that the return is higher than real inflation. Banks are not going to pay interest higher than real inflation- or they would soon run out of resources. A capitalist wants to invest his resources in PRODUCTIVE endeavors- which create businesses, jobs, and generally increases the wealth available for the general populace to share. When a capitalist loses faith in the current economic conditions, one would expect him or her to shift investments to more productive environments. This results in an increase in the apparent "income gap" between the wealthiest and the poorest- a symptom of a failing economy, not a cause of a failing economy.

Governments, to maintain power, like to increase popularity by granting "entitlements" to the less fortunate. Unfortunately, the only wealth a government can distribute is what they can squeeze out of the populace by way of taxes, unless they can come up with a scheme to create the illusion that there is more wealth available than actually exists. Ergo, Wall Street Bankers and Government Regulators that come up with fraudulent schemes like risk derivatives that make things appear to be worth more than they really are get exorbitant rewards, and never go to jail. Which aggravates the disparity between the apparent wealthy and the poor. Meanwhile, the Capitalist is parking his or her wealth in things like agricultural land that can be expected to maintain value no matter how bad the economic picture appears to be (which is why prices for productive agricultural land continue to spiral upwards).

The Capitalist is not the problem. Historically, the Great Capitalists- Rockefeller, Ford, Carnegie, Kaiser, Mellon, Bill Gates, Warren Buffet- after ruthlessly building their empires through destroying the competition through any means available, wind up giving most of the wealth BACK to the society through foundations designed to address what THEY perceive as critical needs of society, whether it be building libraries or hospitals, or endowing universities, or seeking cures for devastating diseases. At the end of their conquest, they are more interested in leaving a legacy. Leaving all of your fortune to your heirs is a sure way to see it disappear within three generations...

Disclaimer: I am NOT a Capitalist- my net worth is embarrassingly low, and I have been a working stiff most of my life. Years ago, when I first left the military, I did draw unemployment for a couple of months, but found it so degrading, I started my own business just to reclaim some self respect.

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#17
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Re: Manufacturing Jobs: Separations vs. Hires

10/24/2012 8:59 AM

That is an interesting commentary cwarner7_11, the only thing is and I wouldn't call it a flaw, because I think you may have addressed it. What may be a flaw, is how the business owner addresses it, each is different.

I had a small business, and my roughest time I had, was going through 9/11.

At the time I had cash reserves, the clients I did business had cash reserves. But the uncertainty of the future they withheld expansion or upgrades. Hence that affect myself into any capital reinvestment in the company itself. What I had done to keep the company solvent. was circle the wagons and any expense scrutinized.

The only budget that I expanded was actually, advertising and some R&D processes. The R&D I invested was a high risk, but that was the only way I could see to remain viable and to retained the employees I had. And that's where you touch off about having lost faith in the economy, thou temporary.

And that is the risk that people do not realize. I did what people called was a bad business decision. I took myself out of payroll to retain employees, and I never regretted it.

Why, Because I had faith in this country and unlike what some politician that never ran a business may counterdict. "I BUILT THAT BUSINESS".

Being in the food processing, I knew it was only a matter of time when things would break loose, when it did. I knew then upgrades would be long overdue. And it did, it was all I could do to keep up.

But the capitalist that you named, they were like any successful capitalist, large or small. They were very philanthropic, unless you have something they wanted whether it was professional or personal. then they were ruthless to get it.

And interesting enough, I believe I'm still on topic.......... in a detailed way.

You put together a nice commentary cwarner

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#21
In reply to #16

Re: Manufacturing Jobs: Separations vs. Hires

10/25/2012 9:25 AM

Corporate profits are at all time high

Fewer Americans are working than at any time in the past 3 decades

Wages as a percent of the economy are at an all time low

Want charts go here...

http://www.businessinsider.com/corporate-profits-just-hit-an-all-time-high-wages-just-hit-an-all-time-low-2012-6

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#23
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Re: Manufacturing Jobs: Separations vs. Hires

10/25/2012 10:05 AM

Tom Consulting-

Your statistics support my basic tennet that something fundamental is seriously worng with the economy, because the investors are not investing, resulting in a growing "income gap" between the haves and the have-nots. This is a symptom of the problem, not the problem itself. Corporations, although occasionally directed by greedy people, are NOT capable of greed, because corporations are not single individuals.

Those individuals responsible for governing corporations are tasked with maximizing the return on investments by their share holders. if these governing bodies have no confidence in the economy, they are going to seriously limit investment in new plant, new hires, R&D, new product development and other activities that "spread the wealth".

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#18

Re: Manufacturing Jobs: Separations vs. Hires

10/24/2012 4:20 PM

"Ethical" Money (Earned honestly and legally), has always flowed to where it is treated the best. At times, in Governmental uncertainty, like now, it is kept in Banks (At last count, approx. 2 trillion hoarded, on the sidelines). When the Government gives specific guidelines and projections that can be trusted, businesses can then make plans for their Capital reserves, and decide where and how to best utilize them. Often times, money is treated best overseas, and jobs follow. Eventually the profits return to the U.S., but only if the Tax structure treats that money well, and allows companies to disperse those profits in a beneficial way, as in new operations, dividends to shareholders, research and development etc. Dispersing other's hard earned gains, by use of Government force, to those who haven't done anything to earn it (Not even paying taxes of any type), tell business that it isn't worth making profit, as that money will flow to non-returnable assets . A Pessimist complains that the wind is too strong; An Optimist hopes the wind will diminish; A Realist adjusts his sails...(source unknown)

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#19
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Re: Manufacturing Jobs: Separations vs. Hires

10/24/2012 4:37 PM

C-Mac, I would invite you as a guest lecturer to my MBA classes if we were in the same time and place.

Splendidly made argument.

Milo

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#20
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Re: Manufacturing Jobs: Separations vs. Hires

10/24/2012 4:44 PM

It's my opinion when people talk ethics. the substance is meaningless.

But I am glad you tied it to a diffinition, because when it comes to the meaning of ethics, there are so many diffinitions of ethics and sub-diffinitions of ethics.

hell for an example, Hitler had ethics right to the very end.

And let me explain the meaning of this:

Here is what I mean: (from www.thefreedictionary.com)

Forms of ethics

amoralism: the state or quality of being without morality or of being indifferent to moral standards. - amoralist, n. - amoral, adj.

axiology: the branch of philosophy dealing with values, as those of ethics, aesthetics, or religion. - axiologist, n. - axiological, adj.

casuist: 1. a person who studies and resolves questions of right and wrong in conduct.
2. an oversubtle or specious reasoner. - casuistic, adj.

casuistry: 1. the branch of ethics or theology that studies the relation of general ethical principles to particular cases of conduct or conscience.
2. a dishonest or oversubtle application of such principles.

deontology: the branch of philosophy concerned with ethics, especially that branch dealing with duty, moral obligation, and right action. - deontologist, n. - deontological, adj.

eudemonism, eudaemonism, eudemonics, eudaemonics: the ethical doctrine that the basis of morality lies in the tendency of right actions to produce happiness, especially in a life governed by reason rather than pleasure. - eudemonist, eudaemonist,n.

metaethics: a branch of philosophy concerned with the foundations of ethics and especially with the definition of ethical terms and the nature of moral discourse.

moralism: the practice of morality, as distinct from religion. - moralist, n. - moralistic, adj.

sensationalism or sensualism: the doctrine that the good is to be judged only by or through the gratifleation of the senses. Also called sensationalism.

synteresis: the belief or doctrine that the conscience is the repository of the laws of right and wrong. See also health.

utilitarianism: the ethical doctrine that virtue is based upon utility and that behavior should have as its goal the procurement of the greatest happiness for the greatest number of persons. - utilitarian, n., adj.

There's more, but I think I made my point.

Now when one talks about integrity, that I feel has more substance of value......at least to me it does.

You also had a nice post.

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#22
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Re: Manufacturing Jobs: Separations vs. Hires

10/25/2012 9:41 AM

I can't buy into this.

If you think jobs went overseas because our money was "treated better" over there, you are dreaming.

Jobs went overseas because the labor is was dirt cheap and corporate america got huge tax breaks for "taking the risk". They got the tax breaks because they put money in the pockets of politicians, not because it was the right thing to do.

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#24
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Re: Manufacturing Jobs: Separations vs. Hires

10/25/2012 10:40 AM

These aren't stolen US jobs, Lyn. The share of corporate profits from overseas sales is running at about 50%, and continues to grow. They are both, making products, and selling them in the global marketplace. The US government feels as if they are entitled to 35% of all all of this global activity. Who's greedy?

http://money.usnews.com/money/blogs/flowchart/2011/06/30/why-us-companies-arent-so-american-anymore

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#25
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Re: Manufacturing Jobs: Separations vs. Hires

10/25/2012 10:58 AM

It's not just about cheap labor. These companies have to move manufacturing and sales to where the buyers are. It's the only thing that makes sense. Do you think that GM would be able to sell cars in China, if they were union made in the US, and exported? Nope.

http://www.reuters.com/article/2012/01/09/us-autoshow-gm-international-idUSTRE8081ZR20120109

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#26
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Re: Manufacturing Jobs: Separations vs. Hires

10/25/2012 11:16 AM

"These aren't stolen US jobs".

Depends on one's point of view, I guess.

If a factory is built in China, instead of the USA, and is manned by Chinese workers instead of US workers then one could argue, I guess, that the jobs weren't stolen.

Those container ships go both ways. There's nothing to keep the US from building widgets here, in America, and shipping them to China to sell. Nothing but padding the bottom line, that is.

Now, don't tell me that corporate america is sacrificing ANYTHING by going off-shore. They are doing it for money.

You're using the same logic that Mitt used when he said the US Navy was smaller now, than at any time since 1916. Never mind that a new ship is worth 20 old ones.

I don't have the answers, just opinions.

I really wish I felt strongly about one of the candidates. And had a good reason to.

Instead, I feel strongly negative about one, and totally unmoved by the other.

Cheers.

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#27
In reply to #26

Re: Manufacturing Jobs: Separations vs. Hires

10/25/2012 11:54 AM

Back to manufacturing............

I'm not a huge fan of the mega corporations, but I'm also a realist.

Suppose that somehow the US government was able to force all major corporations to do all of their manufacturing on US soil..............along with the great pay and benefits that American workers expect.

I honestly don't think that they would be able to move a lot of product, overseas. Combined with a lack of demand in the US, I think they would eventually be ruined.

Maybe it's not fair, but I think it's a fact.

I don't know the answers either, but I think that bringing US corporate tax rates in line with the rest of the world, would be a step in the right direction.

We can't sell widgets on the international market, if they cost 2X more.

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#29
In reply to #27

Re: Manufacturing Jobs: Separations vs. Hires

10/25/2012 12:49 PM

I honestly don't think that they would be able to move a lot of product, overseas.

Its called a world market, touching off political, one thing that especially the unions did not want is for GM to go into bankruptcy, because that would nullify union contracts with GM. If they only had reserves, but there was no cash, anywhere. It would have been very interesting to see what would have happened. Becaue bankruptcy when managed correctly, is not a bad thing. Company stays solvent, and creditors get their money.

But to operate a company like GM until there was nothing but vapors for cash on hand, something was not right with that, because things don't just happen.

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#30
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Re: Manufacturing Jobs: Separations vs. Hires

10/25/2012 5:41 PM

We don't have to go political.

I never believed in the "too big to fail" concept. It flies in the face of free market economics.

Nor do I believe in the demonization of corporate America. The government treats all corporations the same. It doesn't matter if they have 50 employees or 200,000. It's easy to hate the big guys, because they have the money and resources to grease the political skids and keep things profitable.

Those aren't the ones we have to worry about. It's the thousands of small corporations and businesses that are treated with open hostility by our government. They don't have the money and resources to figure out the tax code, or make sure they are compliant with the reams of regulations. Starting a new business is almost impossible, and keeping an existing business going, gets harder by the day.

It's the little guys that are ultimately going to get America working. We've got to remove the roadblocks that are stopping them.

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#32
In reply to #30

Re: Manufacturing Jobs: Separations vs. Hires

10/26/2012 2:27 PM

These issues are strongly political, I don't think we can escape it or make beleive it isn't.

"That too big to fail" I agree with you whole heartedly, IMO it works against the competive edge and the company begins to implode.

As far as the smaller companies, I don't bleive I was alone, there where times where cash flow was so tight, there were times that cash flow was so tight, I did not know how I was going to make the next payroll. And there occasiions that right up to the day, it was difficult. This leveled out once I got established with reserves. But I found out, reserves deplete.

As far as larger corperations that are established, there had nothing. like a small business just starting out. Very poor planning for a established company with an establish infrastruture.

As far as the little guy corporation is concerned, A good accountant helps and pays for itself. And also a few hard knocks where you learn things.

It's the little guys that are ultimately going to get America working. We've got to remove the roadblocks that are stopping them.

That will definitly help, but the risks remains the same. But it will open up the willingness to take the risks.

The biggest lesson I learned, is not get emotionally attached. Be ready to cut things loose if it is consistently not performing. Whether its, an employee, R&D or a piece of equipment or even a client that constantly screws you down to just above break even point. The later, is hard when the work is light. its business, and when in an OEM environment, its foolish to operate at near break even point one issue and your in the red.

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#33
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Re: Manufacturing Jobs: Separations vs. Hires

10/26/2012 3:46 PM

We have to pretend it's not political, to keep the mods at bay.

I think to say that a business owner shouldn't have an emotional attachment to his/her company is a little unrealistic. That's your baby.

People that don't own a business, don't understand the heartburn and hand wringing that goes on with the owners. I'm small potatoes, but the problems are the same. In the 90's, I had employees, was making good money, doing bids on nights and weekends, and I found busywork for my people when things slowed down.........paid them out of pocket. Now I work alone and make about a third of what I did back then..............when I get work. Oh well.

I don't think it's political to say that our government has created an atmosphere that is toxic to business. There's no sense in blaming a single party. They've all done it to us, and they keep expecting us to believe that more government will make it better.

Well, if that's the case, lets try less government, just to see what happens.

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#28
In reply to #26

Re: Manufacturing Jobs: Separations vs. Hires

10/25/2012 12:44 PM

Now, don't tell me that corporate america is sacrificing ANYTHING by going off-shore. They are doing it for money.

Of course they're doing it for the money. Corporate America is not a welfare state, They are in it to make money. Some people may argue that corporate america is on welfare of by taking advantage of tax breaks, grants and low intererst ungarantee loans. That is also another issue, but still as corporate America, one take advantage of all fiscal windfalls. I really see very few peoplewhether corporate or individual that does not knowing not take a writeoff or a deduction.

One thing where I do have a problem with corporate welfare is what happened to the green energy company's. That was pure political greed. Very little had anything to do with corporate, with the exception of a corporate front.

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#31

Re: Manufacturing Jobs: Separations vs. Hires

10/26/2012 7:57 AM

Wow guys. Here's a real eye opener, and I think it ties in with Milo's point. These are charts of "manufacturing" profits. It's not such a pretty picture when they aren't lumped in with the financial sector and others.

The real story:

http://www2.census.gov/econ/qfr/current/qfr_pub.pdf

No need to do all of the reading. Just scroll down to the tables.

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