Tag: Supply Chains

Intel shares fall 20% on plans to cut 15,000 jobs

Tina Marie (Ms. Cat)

Intel on Thursday revealed drastic plans to slash its employee headcount and capital spending in an attempt to put its business back on a stable financial footing, as it suffered the latest setback in its slow-moving turnaround plans.

Intel shares fall 20% on plans to cut 15,000 jobs

Related:

US CHIPS Act Funding for Intel

On March 20, 2024, the U.S. Department of Commerce and Intel Corporation announced a preliminary memorandum of terms under which Intel will receive approximately $8.5 billion in direct funding under the CHIPS and Science Act. Funding will help advance Intel’s critical semiconductor manufacturing and research and development projects at sites in Arizona, New Mexico, Ohio and Oregon – U.S. locations where the company produces some of the world’s most advanced chips and semiconductor packaging technologies.

Meanwhile, in China:

China’s ‘basic self-sufficiency’ in chip-making tools could come this summer, veteran says

Wisconsin billionaire Diane Hendricks listed as ‘everyday American’ RNC speaker

Tina Marie (Ms. Cat)

Billionaire Diane Hendricks, one of the richest people in Wisconsin, will apparently be speaking as an “everyday American” when she takes the stage Thursday at the Republican National Convention.

Hendricks is the co-founder of ABC Supply, the largest wholesale distributor of roofing supplies and a major distributor of siding and windows in North America. She started the Beloit-based company in 1982 with her husband, Ken, and has been the chairwoman and sole owner since his death in 2007.

Wisconsin billionaire Diane Hendricks listed as ‘everyday American’ RNC speaker (archived)

By calling herself a self-made woman, Hendricks is discrediting her deceased husband! They made ABC Supply, together! She practically owns the City of Beloit. Housing is unaffordable due to the rapid pace of economic development.* When I lived in Beloit, in the late nineties, my rent was only $800 for a two-story, three-bedroom, two-bath home that I shared with two others and that was before I worked for General Motors. The minimum wage is still $7.25 in Wisconsin.

Related:

Source

In film, Walker talks of ‘divide and conquer’ union strategy

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Chinese Company Under Congressional Scrutiny Makes Key U.S. Drugs

Tina Marie (Ms. Cat)
Source

Lawmakers raising national security concerns and seeking to disconnect a major Chinese firm from U.S. pharmaceutical interests have rattled the biotech industry. The firm is deeply involved in development and manufacturing of crucial therapies for cancer, cystic fibrosis, H.I.V. and other illnesses.

Chinese Company Under Congressional Scrutiny Makes Key U.S. Drugs

Latest:

US bill to restrict WuXi AppTec, Chinese biotechs revised to give more time to cut ties

Anti-Coup Rebellion in Eastern Ukraine Completes 10 Years as Russian Forces Continue Advancing in Donetsk

Tina Marie (Ms. Cat)

April 2014 was a pivotal month for the people of the Donbass region in what was then still part of Ukraine. It was then that the governing regime was newly installed in Kiev by a coup d’état on February 20/21embarked on military hostilities against the people of the region. The coup overthrew Ukraine’s elected president and legislature. It sparked rebellion in Crimea, Donbass (Lugansk and Donetsk), and in towns and cities in other regions of eastern and southern Ukraine.

Anti-Coup Rebellion in Eastern Ukraine Completes 10 Years as Russian Forces Continue Advancing in Donetsk

Inflation and interest rates: the US experience

Tina Marie (Ms. Cat)

Once again the US Federal Reserve is in a quandary. Does it cut its policy interest rate soon in order to relieve pressure on debt servicing costs for consumers and businesses and perhaps avoid a stagflationary economy (ie low or no growth alongside higher inflation); or does it hold its current interest rate for borrowing in order to make sure inflation falls towards its target of 2% a year?

Inflation and interest rates: the US experience

China vs. the US: shipbuilding, subsidies, and the Jones Act

Tina Marie (Ms. Cat)

Hypocrisy thrives where double standards prevail.

Earlier, I stupidly tweeted out an article about the Jones Act and shipbuilding and Colin Grabow, from the Cato Institute, liked it (he was quoted in the article). I looked him up and decided to listen to this video on the shipbuilding competition between China and the US, where he and a lawyer for United Steelworkers were on the panel. China is eating their lunch, and it’s the ruling elites’ own fault, yet they scapegoat China for it. The double standards over China’s “unfair economic practices” AKA the subsidizing of their shipbuilding industry irritates me (liars irritate me even more). States give subsidies, grants, and tax breaks to corporations, all the time. Fincantieri Marinette Marine is just one example, but Wisconsin had done the same for Foxconn. Foxconn received tax breaks and $3B in subsidies, which was “the largest ever subsidy provided by a state to a foreign company”, despite not living up to their promises.

Rumble

Colin Grabow wants to end the Jones Act. I’ve made at least three video clips regarding the Jones Act, two with Sal Mercogliano from What’s Going On With Shipping and one from the government-funded CSIS (I’ve posted them, below). Spoiler alert: Sal says that the problem isn’t the Jones Act. Meanwhile, both CSIS and the Cato Institute (part of the Atlas Network) blame the Jones Act. Deregulation is a wet dream of big corporations (which fund both the Cato Institute and CSIS).

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