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arrows September 15, 2016
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In a move that could draw fresh fire in the presidential race, Ford Motor says it is shifting all North American small car production from U.S. to Mexico. CEO Mark Fields also says the automaker is committing $4.5 billion to develop more than a dozen new electrified models by 2020. (USA TODAY)
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A surge in U.S. incomes last year delivered the first significant raise for the typical family after seven years of stagnant and declining earnings, the result of sustained job growth finally lifting a broad swath of American households. (The Wall Street Journal)
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Given the huge cost of undertaking a master's degree in business administration (MBA), prospective students will be interested to know which institutions turn out the highest earners. (Business Insider)
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U.S. retail sales declined in August, a cautious signal about consumers’ ability to remain the primary driver of economic growth this year. (The Wall Street Journal)
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7-Eleven
Career
You should never feel stuck, but if you do, let that be your motivation for change. If you’re going to look around, seek out these three experiences to shape not only your career, but your humanity, too. (Black Enterprise)
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If you’re sick of your job, you’re not alone. A full quarter of America’s workforce is fed up, and either actively searching for another job, or is at least giving it some serious thought. This says a lot about the current state of the American workplace – and a lot about how Americans view the economy. On one hand, it’s a drag that so many people are unhappy. On the other, it’s a good sign that people are confident enough to test the waters of the job market. (CheatSheet)
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Economic weakness "counsels prudence", said Lael Brainard, a member of the Fed's Open Market Committee, which decides interest rates. Her comments come after several Fed officials recently suggested a rate rise this month should be considered. (BBC)
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Northwestern Mutual
Diversity in the Workplace
Despite progress, the number of women Fortune 500 CEOs remains tiny. Many female c-suite stars don’t get second opportunities, ending up in an invisible corporate purgatory. Why is business still underutilizing one of its most valuable assets? (Fortune)
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Silicon Valley companies are making news these days for their efforts to fix the underrepresentation of women in tech. Many are focused on increasing the pipeline of women studying STEM in high school and college. But pipeline factors are not the only reason for the low numbers of women: Companies are failing to retain the female employees they have. (Harvard Business Review)
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International
The U.K. economy is showing some signs of weathering the impact of the Brexit vote, at least in the short term. A look back at the country’s last recession shows it may be far too early to declare the all-clear. (Bloomberg Business)
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Singapore Airlines was the launch customer for the two-deck jet in 2007. The airline has decided not to renew the A380 plane when the ten-year contract expires next year. The news comes after Airbus more than halved its delivery target for the A380, raising fears it could slip back to making a loss from the aircraft. (BBC)
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The balance of power between capital and labor is shifting back towards the former in China's troubled manufacturing heartland as the economic slowdown wipes out jobs faster than the labor supply falls. Many factories in the Pearl River Delta are reverting to past practice of hiring only young, preferably female, workers, a different approach from China's post-stimulus years when even men in their 40s or 50s were in demand. (CNBC)
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Highmark, Inc
Federal Deposit Insurance Corporation (FDIC)
Thermo Fisher Scientific
NBMBAA
Join us this October in New Orleans for a week of unparalleled education, networking and career opportunities. The nation’s largest diversity career expo features 250+ employers, hiring now. Cutting edge educational sessions take your career to the next level. And you never know what career possibilities you’ll find meeting friends, colleagues and peers at our event. Housing closes Sept. 23, so register today! Conference Scholarships are available. Visit our Conference site to find out more.
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Principal Financial Group
Technology
The launch of Uber’s self-driving pilot program marks the public unveiling of the company’s secretive work in autonomous vehicles and the first time self-driving cars have been so freely available to the U.S. public. More than two years ago Uber – like most in the car business – identified autonomous driving technology as the springboard for the next stage of growth. (Fortune)
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Twitter is making a play for people’s living rooms, unveiling an app on Wednesday for Apple TV, Amazon Fire TV and Microsoft’s Xbox One that will showcase its bet on live content. (The New York Times)
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For tech entrepreneurs, these are both the best of times and the gnarliest of times. On the plus side, there’s still a lot of venture capital money chasing revolutionary ideas, with $15.3 billion flowing to startups in the second quarter of this year, a 20% pop over the first quarter, according to a MoneyTree Report by PricewaterhouseCoopers and the National Venture Capital Association. (USA TODAY)
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Entrepreneurship
With the emergence of marketing channels, tools and low-cost services, it’s easier and cheaper than ever to market a small business. However, it’s also very easy (and common) for small businesses to fall into marketing pitfalls and waste their money on advertising that’s going to be too expensive due to their conversion rates and marketing channels that won’t ever move the needle. (Entrepreneur)
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Rick Fredkin never went to college. Or for that matter, high school, at least in the traditional sense. So of course he’s started a company selling educational software to schools."Education works best when it’s something that you want to do," says Fredkin, describing both his atypical upbringing and his Watertown-based company, Eduporium. (Upstart Business Journal)
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The Economy
The global bond market has slipped its central-bank anchor. The days of bond nirvana, where seemingly every month brought lower yields—and higher prices—are over for now. Until September, fixed-income investors had everything going their way. Global inflation has been quiescent, and global growth fragile. Central banks, particularly the Bank of Japan and European Central Bank, have been ever-more inventive in monetary policy. And then June’s Brexit vote hammered yields lower as markets feared turmoil and expected more central-bank responses.(The Wall Street Journal)
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Drivers may see the cheapest average fall gasoline prices since the year President Barack Obama was first elected, and home-heating fuel prices could be setting up for another 16-year low. (CNBC)
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Personal Finance
Just over half of employees this year have a health insurance policy with a deductible of at least $1,000, according to a survey of employers from the Kaiser Family Foundation. It's the continuation of a multiyear trend of companies passing more of the costs of employee health care back onto workers. (NPR)
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The annual report from the Census Bureau also found that the poverty rate fell for all racial groups, in the steepest decline found since 1968. Low income workers received the largest boost, bringing median income levels back to before the recession. (BBC)
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There are several ways to approach calculating and comparing your pay against cost of living, but for the purposes of this report, we’ll highlight the top cities by comparing a city’s median base salary to its median home value. Why? Because housing (mortgage or rent) is the biggest expenditure for people across all U.S. cities, according to figures from the federal government. More specifically, housing costs account for 33% of annual expenditures for the average American, more than any other expense. (Glassdoor)
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Naylor Association Solutions
Corporate America
The value of diversity in corporate America cannot be overstated. Whether in the boardroom or on a retail sales floor, a diverse pool of people brings unique perspectives, original ideas, and an edge factor that can help any business create out-the-box solutions. (Black Enterprise)
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UPS said Wednesday it will add about 95,000 seasonal workers to meet demand from online shopping. Many of the full-time and part-time jobs will be package handlers and drivers. That's close to last year's pace, when United Parcel Service Inc. estimated it would hire between 90,000 and 95,000 seasonal workers. (Associated Press)
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Bayer, the American maker of fertilizers and agriculture products, agreed on Wednesday to a takeover by Bayer, the German chemical conglomerate, for $56 billion after months of negotiations. (The New York Times)
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Government
President Barack Obama this week personally appealed to insurers to help boost enrollment in Obamacare health plans during the next open enrollment season, which begins in November. Obama dropped by a meeting that senior officials in his administration were having Monday with more than a dozen insurance company chief executives at the White House, according to a White House official. (CNBC)
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Leadership
First the bad news: 85 percent of companies report an urgent need to develop their leadership pipeline. But only 40 percent believe their current pool of high-potentials can meet their future business needs. Now the good news: With Millennials taking over as the largest working generation, it would behoove current leaders to identify who amongst them have the key leadership traits that lead to success. (Inc.)
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