Posts Tagged ‘Auto Industry

05
Sep
14

President Obama And U.S. Economy: 1; Republicans: 0

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Jason Furman: The Employment Situation In August

1. The private sector has added 10 million jobs over 54 straight months of job growth, extending the longest streak on record. Today we learned that total nonfarm payroll employment rose by 142,000 in August, mainly reflecting a 134,000 increase in private employment. Private-sector job growth was revised up for July and down for June for little total revisions. Over the past twelve months, private employment has risen by a total of 2.4 million.

3. The last time the economy added 10 million private-sector jobs over four-and-a-half years was November 1996 to April 2001. There are some notable differences between the current stretch of job gains and the one that began in 1996. In particular, the manufacturing sector has added more than 700,000 jobs over the last four-and-a-half years, while it lost more than 400,000 jobs during the 1996-2001 period. 4. On a not-seasonally-adjusted basis, local government educational services employment rose by more than 200,000 in August, continuing a recent trend that has seen an increasing number of these employees return to work before September.

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MarketWatch: U.S. Manufacturers Surge Again In August, ISM Finds

U.S. manufacturing companies grew in August at the fastest pace since March 2011, a survey of executives found. The Institute for Supply Management said its manufacturing index climbed to 59% last month from 57.1% in July. That easily beat the 56.1% forecast of economists surveyed by MarketWatch. Readings over 50% indicate more companies are expanding instead of shrinking.

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Bloomberg: Chrysler Luring Toyota Owners Helps Lift U.S. Share

Chrysler is on an unprecedented winning streak. As Jeep benefits from consumers’ renewed attraction to SUVs, the company also has been aided by strong demand for Ram pickups and Town & Country minivans. That helped propel its U.S. sales up 12 percent last month, the largest increase of any major automaker, according to the average of eight analyst estimates compiled by Bloomberg. That would be Chrysler’s 53rd straight month of rising sales — about 4 1/2 years — after almost being given up for dead before its government-sponsored bankruptcy in 2009.

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Bloomberg: Saudi Arabia Oil Sales To U.S. Imperiled By Shale Boom

After years of keeping the price of crude sold to the U.S. low enough to maintain market share, Saudi Arabia is losing ground as the shale boom leaves U.S. refiners with ample supplies of inexpensive domestic oil. Arab Light crude for sale in the U.S. averaged 48 cents a barrel less than Light Louisiana Sweet, a Gulf Coast benchmark, in August, the narrowest discount in data compiled by Bloomberg back to 1991.

The U.S. imported 878,000 barrels of Saudi crude a day in the first four weeks of August, the least since 2009. Shale drilling has boosted U.S. oil output to the highest level since 1986. As refineries turn to lower-priced domestic oil to make fuel at a record pace, the Saudis and other foreign suppliers are left with dwindling slices of the market. In June, imports from Saudi Arabia accounted for the smallest share of crude processed at U.S. refineries since February 2010.

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Jeffry Bartash: U.S. Factory Orders Jump 10.5% In July On Aircraft Contracts

Orders for goods produced in U.S. factories leaped 10.5% higher in July, as expected, owing to a big surge in contracts for commercial aircraft, the Commerce Department said Wednesday. Economists surveyed by MarketWatch had expected orders to climb nearly 11%. Factory orders also rose by a revised 1.5% in June instead of 1.1% as initially reported.

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15
Jul
14

700K Jobs At Risk? Do Something, Congress

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President Barack Obama speaks about the economy at the Turner-Fairbank Highway Research Center in McLean, Virginia. President Barack Obama envisions a time when cars will be able to talk with other cars or with America’s roads. He says such technology could prevent crashes, cut down on traffic and save gasoline.

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President Barack Obama is given a tour of vehicles equipted with V2I technology by Joe Peters while at the Turner-Fairbank Highway Research Center in McLean, Virginia

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President Barack Obama looks over his shoulder while driving a simulator

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David Yang, human factors team leader, shows President Barack Obama a vehicle simulator during his tour of the Turner-Fairbank Highway Research Center

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President Barack Obama is given a tour of the Saxton Transportation Operations

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President Barack Obama greets employees after speaking about the economy at the Turner-Fairbank Highway Research Center

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President Barack Obama shakes hands with Transportation Secretary Anthony Foxx

15
Jul
14

Rise and Shine

On This Day – Pete Souza: “One of the most poignant days of the year was when Ruby Bridges visited the White House. Ruby is the girl portrayed in Norman Rockwell’s famous painting, “The Problem We All Live With,” which depicts Ruby as she is escorted to school on the court-ordered first day of integrated schools in New Orleans in 1960. When the Norman Rockwell Museum loaned the painting to the White House for a short period of time, the President invited Ruby to view the painting while it was on display outside the Oval Office.” July 15, 2011

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Today (All Times Eastern)

11:10: The President tours the Turner-Fairbank Highway Research Center, McLean, Virginia

11:35: Delivers remarks

12:30: Josh Earnest briefs the press

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The Week Ahead

 Wednesday: The President will attend meetings at the White House.

Thursday: The President will travel to New York City area to attend a DNC roundtable. Further details on the President’s travel to New York will be made available in the coming days.

Friday: The President will attend meetings at the White House.

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President Obama holds up three fingers while talking with three-year-old Holden Fossum and his sisters Ayla, 8, and Alexandria, 4, during a greet with wounded warriors and their families in the East Room of the White House, July 14, 2014. Holden, Ayla, and Alexandria are the children of Staff Sergeant Brendan Fossum and wife Dana of Woodbine, Md (Photo by Pete Souza)

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Paul Krugman: Obamacare Fails To Fail

How many Americans know how health reform is going? For that matter, how many people in the news media are following the positive developments? I suspect that the answer to the first question is “Not many,” while the answer to the second is “Possibly even fewer,” for reasons I’ll get to later. And if I’m right, it’s a remarkable thing — an immense policy success is improving the lives of millions of Americans, but it’s largely slipping under the radar.

How is that possible? Think relentless negativity without accountability. The Affordable Care Act has faced nonstop attacks from partisans and right-wing media, with mainstream news also tending to harp on the act’s troubles. Many of the attacks have involved predictions of disaster, none of which have come true. But absence of disaster doesn’t make a compelling headline, and the people who falsely predicted doom just keep coming back with dire new warnings.

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NYT: Anxious Moments For An Afghanistan on the Brink

It was the Germans who uttered the first alarm that a potentially deadly power struggle might be brewing, after weeks of Western officials’ staying on the sidelines as the Afghan election crisis deepened. Just over a week ago, they threatened to withdraw funding and training troops from Afghanistan if a powerful regional governor declared a breakaway government led by the presidential candidate Abdullah Abdullah. What followed was as tumultuous a six-day stretch for Afghanistan as any since the American invasion in 2001. Interviews with Western officials, the two presidential campaigns and other Afghan officials detailed a week that went beyond any

previous political crisis in carrying the risk of a factional conflict that would tear open the wounds of the devastating civil war. According to Mr. Manawi and others, it was a call from President Obama to Mr. Abdullah just after dawn last Tuesday that helped stop a headlong rush into a disastrous power struggle. Mr. Obama warned Mr. Abdullah not to even consider seizing power and to keep calm over the three days until Secretary of State John Kerry could get to Kabul. “Really here the U.S. government did a great favor to the Afghan people,” Mr. Manawi said. “If it was not for the telephone call to Dr. Abdullah, this would not have stopped.”

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Danny Vinik: The Border Crisis Has Nothing To Do With Border Security

By linking them, a GOP congressman could kill Obama’s emergency request On “Fox News Sunday,” House Homeland Security Chairman Mike McCaul floated the idea of tying his border security bill to President Barack Obama’s request for $3.7 billion to help ease the humanitarian crisis unfolding at the Southwest border. That crisis is real and requires immediate action from Congress, but it has nothing to do with border security. McCaul’s attempt to combine the issues only puts the funding request in jeopardy.

Those funds are needed to house and feed the 50,000-plus unaccompanied minors who have entered the U.S. so far this year; find sponsors for them while they await their court proceedings; hire more immigration judges to reduce the case backlog; and, for those who aren’t allowed to stay, transport them home. Obama’s request also includes money for increased border security. This is a reasonable response to the border crisis — one that focuses on treating the kids in a humane way while upholding U.S. law.

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Brian Beutler: Republicans’ Failure To Pass Immigration Reform Has Cost Us $900 Billion

Republicans have raised several objections to the White House’s plan to address the child-migrant crisis, but none so self-discrediting as their objection to the nearly $4 billion cost of the bill.

That objection is self-discrediting for two reasons: First, because Republicans are on record in support of substantially more spending to shore up the border. Second, because with respect to immigration (and everything else) their claims to fiscal probity are a shell game they return to anytime they need a plausible-sounding reason to object to something they oppose for other reasons.

To demonstrate both, one need only look back to the Senate’s comprehensive immigration reform bill, which Republicans helped design and pass just over a year ago.

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Steve Benen: An Abundance Of Rhetoric, A Dearth Of Solutions

Rep. Michael McCaul (R-Texas), chairman of the House Homeland Security committee, argued yesterday that “some” of the unattended minors from Central America he saw “looked more like a threat to coming into the United States.” How could he tell? McCaul didn’t say.

Soon after, Texas Gov. Rick Perry (R) argued in support of sending the National Guard to the border. Asked what good Guard troops could under the circumstances, Perry couldn’t say. (In fact, he seemed confused by the question.)

A variety of congressional Republicans have now balked at President Obama’s appeal for emergency resource, insisting the package costs “too much.” What’s the GOP’s alternative response? What’s the proper amount of spending? They wouldn’t say.

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WH.gov: President Obama To Award The Medal Of Honor

In the afternoon of July 21, 2014, President Barack Obama will award Ryan M. Pitts, a former active duty Army Staff Sergeant, the Medal of Honor for conspicuous gallantry.  Staff Sergeant Pitts will receive the Medal of Honor for his courageous actions while serving as a Forward Observer with 2nd Platoon, Chosen Company, 2nd Battalion (Airborne), 503rd Infantry Regiment, 173rd Airborne Brigade, during combat operations at Vehicle Patrol Base Kahler, in the vicinity of Wanat Village in Kunar Province, Afghanistan on July 13, 2008.

Staff Sergeant Pitts will be the ninth living recipient to be awarded the Medal of Honor for actions in Iraq or Afghanistan. He and his family will join the President at the White House to commemorate his example of selfless service.

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Michael Tomasky: Hey, Benghazi-Heads, You Stand Down!

Central to the Benghazi conspiracy: the alleged stand-down order that kept help from arriving from Tripoli. It never happened—and now we learn that Republicans have known for months.

Let’s redirect our attention back to Benghazi. When is that special Benghazi committee in the House of Representatives going to get cracking, you may have wondered? Good question. It hasn’t been announced yet. But here’s a better question. What, now, is it going to investigate?

While we’ve all been focused during the past week on the border, there was a pretty major news development on Benghazi that got buried and is in need of a little sunshine. Last week, the Associated Press reported on transcripts of hours of closed-door interviews with nine U.S. military leaders that had been conducted by two House committees, Armed Services and Oversight (the latter is Darrell Issa’s committee). Those military leaders agreed on a, or maybe the, central point as far as this continuing “investigation” is concerned: There was no stand-down order.

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Max Fisher: This Chart Shows Every Person Killed In The Israel-Palestine Conflict Since 2000

It’s no secret that the death tolls in the Israel-Palestine conflict are lopsided, with Palestinians far more likely to be killed than Israelis. But just how lopsided is driven home by looking at the month-to-month fatality statistics, which the Israeli human rights organization B’Tselem has been tracking since September 2000. Those numbers also tell some important stories about the conflict, how it’s changed, and maybe where it’s going. Here are the monthly, conflict-related deaths of Israelis and Palestinians since September 2000: You’ll notice right away that the overwhelming majority of the deaths are Palestinian, and have been for the almost 14 years since B’Tselem began tracking.

Overall, the group has recorded 8,166 conflict-related deaths, of which 7,065 are Palestinian and 1,101 Israeli. That means 87 percent of deaths have been Palestinian and only 13 percent Israeli. Put another way, for every 15 people killed in the conflict, 13 are Palestinian and two are Israeli. (Statistics for the past two months are from United Nations Office for the Coordinator of Humanitarian Affairs.) That number is even more staggering when you consider that there are about twice as many Israelis as there are Palestinians. This means, very roughly, that a Palestinian person has been 15 times more likely to be killed by the conflict than an Israeli person

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G. Chambers Williams III: Volkswagen Expansion Continues Win Streak For Tennessee

The South’s auto industry continues its phenomenal growth, as evidenced by recent expansions expected to bring thousands of new jobs and billions of dollars in new investment — including a deal announced Monday that will bring production of a new SUV to the Volkswagen plant in Chattanooga. With the Volkswagen win, Tennessee is now at the forefront of the industry’s growth. Recent gains include a new Infiniti engine plant that opened this month in Decherd; a pending expansion that will add two new vehicles to the General Motors plant in Spring Hill; and projects over the past year that have brought new vehicles and significantly bumped up employment at Nissan’s Smyrna plant. The Volkswagen announcement of an expansion that will add 2,000 jobs in auto assembly and 200 in research and development was “pretty impressive,”

said Sujit CanagaRetna, fiscal policy manager for the Atlanta office of the Council of State Governments and a leading expert on the South’s auto industry. “I believe it reinforces that this region has become a real magnet, not only for new plants, but also for expansions,” he said. “BMW in South Carolina is another great example. They’ve been there 20 years and have gone through five or six expansions, with the latest announced in March for $1 billion. “All of the ancillary industries related to the auto companies, such as tire manufacturers, are flourishing in the South as well,” CanagaRetna said. “(Clarksville) Tennessee is getting Hankook Tire, there are four major tire makers in South Carolina, including one recently announced from Singapore, and several in Georgia.”

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On This Day

Sen. Barack Obama smiles as he is introduced prior to his address on Iraq policy and U.S. national security at the Ronald Reagan Building and International Trade Center July 15, 2008 in Washington, DC

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President Obama greets the family of newly appointed FCC Chairman Julius Genachowski in the Oval Office prior to his swearing in on July 15, 2009 (Photo by Pete Souza)

President Obama greets the Gramajo family, participants with the Make-A-Wish Foundation, in the Oval Office on July 15, 2009 (Photo by Pete Souza)

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President Obama is interviewed by Chuck Todd, of NBC News, at Gerald R. Ford International Airport in Grand Rapids, Mich., July 15, 2010 (Photo by Pete Souza)

President Obama sits in an electric Ford Focus alongside Mayor Kurt Dykstra following a groundbreaking ceremony for Compact Power’s new advanced battery factory in Holland, Michigan, July 15, 2010

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First Lady Michelle Obama and kids double-dutch jump rope during a taping for the Presidential Active Lifestyle Award (PALA) challenge and Nickelodeon’s Worldwide Day of Play, on the South Lawn of the White House, July 15, 2011 (Photo by Chuck Kennedy)

President Obama, Ruby Bridges, and representatives of the Norman Rockwell Museum view Rockwell’s “The Problem We All Live With,” hanging in a West Wing hallway near the Oval Office, July 15, 2011. Bridges is the girl portrayed in the painting (Photo by Pete Souza)

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Former President George H. W. Bush and former First Lady Barbara Bush present President Obama with a pair of socks in the Map Room of the White House, July 15, 2013 (Photo by Pete Souza)

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