Last updateFri, 18 Jan 2019 3pm


GE's Immelt: Get Back to Basics

General Electric CEO Jeff Immelt thinks the country and his company need to get back to basics – with more focus on manufacturing and infrastructure and less on financial services, he said at a conference Monday.


The country and companies like his have "outsourced too many things," said Mr. Immelt at a "Wired" magazine conference about disruptive technology in New York on Monday, where he was interviewed on stage by Wired editor Chris Anderson.


Source: Wall Street Journal


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IMF Raises Forecast for U.S. Economy, Risk of Debt

The International Monetary Fund, which has rescued economies from Pakistan to Iceland in the past year, raised its outlook for the U.S. and called for steps to reduce concern about rising public debt and inflation.


The IMF forecasts the world’s largest economy will contract 2.5 percent this year before expanding 0.75 percent in 2010, according to a statement today after an annual staff analysis of the U.S. In the IMF’s World Economic Outlook report released in April, the U.S. was forecast to contract 2.8 percent this year before stalling in 2010.


Source: Bloomberg


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Manufacturing Summit Looks to Shore Up U.S. Industrial Base

The economic crisis has forced the nation to face up to its deteriorating industrial base and the need to rebuild it, Ford Motor Chairman Bill Ford told a meeting of business and government leaders on Monday. And rather than questioning the government's growing role in private industry, speakers opening the National Summit seemed focused on defining that role.


Source: USA Today


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U.S. Industrial Manufacturing Industry to Create Almost 8,000 Jobs in Third Quarter

While spending has been slight this year, some facilities that were already under construction are nearing completion in the industry. For the coming quarter -- July, August and September -- the Industrial Manufacturing Industry is scheduled to have 25 plants currently under construction open their doors and begin operation, creating almost 8,000 jobs in the U.S.


Source: Industrial Info Resources


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Manufacturing Out of the Recession

Some large enterprises have apparently decided that now is the time to take decisive action in anticipation of economic recovery.


Exxon Mobil has said it will increase oil exploration and production spending by 11% this year, no doubt with the expectation that an economic recovery will stimulate demand and, once again, drive up prices (something that already seems to be happening).


Source: Managing Automation


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