More than 730,000 Michigan workers employed in LIFT related occupationsDETROIT – Advanced manufacturing employment in Michigan reached new heights in 2018 with more than 730,000 workers employed, its highest level since before the recession. This according to a new report from Detroit-based LIFT—Lightweight Innovations For Tomorrow, a Manufacturing USA Read More
Ford, Declaring Itself a Mobility Company, Revisits an Old Strategy
COMMENTARYFord Motor Co., if you haven't heard, is a mobility company rather than just an automaker. The company's latest mobility move is similar to one it tried two decades ago.Dearborn, MI-based Ford said Nov. 8 it acquired Spin (San Francisco) a "scooter-sharing company that provides customers an alternative for first- and last-mile transportation." Spin currently Read More
Manufacturing Adds 32,000 Jobs in October on Gains in Transportation
U.S. manufacturing added 32,000 jobs in October, with a major gain in transportation employment.The job increase was split, with durable goods adding 21,000 jobs and non-durable goods kicking in another 11,000, according to a breakdown by industry issued today by the Bureau of Labor Statistics.Transportation equipment added 10,200 jobs, the largest employment increase Read More
GM Posts $2.5 Billion Quarterly Profit on Truck Sales
General Motors Co. (Detroit) reported a $2.5 billion third-quarter profit on sales of high-margin trucks.The largest U.S.-based automaker's quarterly profit was $1.75 on a per-share basis. GM's adjusted profit, which excludes some costs, was $1.87 a share. That surpassed the average estimate of $1.25 a share by analysts surveyed by Refinitiv, according to Read More
Durable Goods Orders Rise in September, Paced by Motor Vehicles, Defense Aircraft
New orders for durable goods rose in September, lifted by orders for motor vehicles and defense aircraft.Orders increased 0.8% to $262.1 billion from an adjusted $260.1 billion in August, the U.S. Commerce Department said in a monthly report. It was the third monthly gain in the past four months. The September rise represented a slowing down from August, which had a 4.6% Read More
Ford and Tesla, Reporting Earnings, Reflect Different Styles While Sharing a Common Need
COMMENTARYFord Motor Co. and Tesla Inc. scheduled their third-quarter earnings reports around the same time on Wednesday. In some ways, the companies provided a contrast in style and circumstance.But they shared something -- the need to reassure outsiders.Ford, at age 115, embodies the Detroit automotive establishment. Tesla, the electric-car maker, is supposed to Read More