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Cummins to lay-off 2000 workers
serf
Member Posts: 9,217 ✭✭✭✭
The trucking with diesel engines or a goods and service turn down or maybe both? Those jobs have got to be high paying blue collar jobs
in a factory setting.They will never come back for A.I. robots will be taking most positions with new engine technology and assembly.
serf
https://finance.yahoo.com/news/engine-maker-cummins-lay-off-224613252.html
The job cuts at Columbus, Indiana-based Cummins follow voluntary buyouts and other cost-saving moves. The furloughs are part of $250 million to $300 million in structural cost savings that Cummins told analysts last week were coming in response to a softening truck market.
"Our goal is not just to take out costs, but to make structural improvements to the ways we operate, to improve the overall health of the company and prepare us better for when volumes come back," Tony Satterthwaite, Cummins' president and chief operating officer, told analysts during a Nov. 21 investor day presentation in New York.
in a factory setting.They will never come back for A.I. robots will be taking most positions with new engine technology and assembly.
serf
https://finance.yahoo.com/news/engine-maker-cummins-lay-off-224613252.html
The job cuts at Columbus, Indiana-based Cummins follow voluntary buyouts and other cost-saving moves. The furloughs are part of $250 million to $300 million in structural cost savings that Cummins told analysts last week were coming in response to a softening truck market.
"Our goal is not just to take out costs, but to make structural improvements to the ways we operate, to improve the overall health of the company and prepare us better for when volumes come back," Tony Satterthwaite, Cummins' president and chief operating officer, told analysts during a Nov. 21 investor day presentation in New York.
Comments
DUBLIN, Va. (WDBJ7) - Volvo has confirmed plans to lay off about 700 people in the New River Valley, at its Dublin plant, because of decreasing public demand for trucks.
A company spokesperson said, "We regret having to take this action, but we operate in a cyclical market, and after two years of extremely high volumes, we have to adapt to reduced market demand."
Volvo said in June, when it announced a $400 million investment in NRV, that it expected to have to lay people off around the end of the year....
Boom or bust - What a way to run a business.
Those longshoremen in a previous post losing jobs to technology and this is another straw in the camel's back and this why they must disarm The American people one way or another.The American middle class is being eliminated while They will give Universal Basic Income to we the people to
make us placid. It will fail for most people need to have a sense of integrity of accomplishment to survive. Not be spooned fed by Big government.
serf
https://www.newyorker.com/magazine/2018/07/09/who-really-stands-to-win-from-universal-basic-income
Recently, a resurrection has occurred. Guaranteed income, reconceived as basic income, is gaining support across the spectrum, from libertarians to labor leaders. Some see the system as a clean, crisp way of replacing gnarled government bureaucracy. Others view it as a stay against harsh economic pressures now on the horizon. The questions that surround it are the same ones that Nixon faced half a century ago. Will the public stand for such a bold measure?and, if so, could it ever work?
It was built around 1975 as White Trucks. I was right out of Community College and they wouldn?t hire me because I didn?t have much work experience.
My friend is on a team building electric trucks. He says they?ll be selling like hot cakes for short run trucking.
That is how it works in the market.....or soon you are NOT in the market.
I'm sure you have heard of "SUPPLY AND DEMAND"
We have enough gun laws, what we need is IDIOT control.
Blood makes you related. Loyalty makes you family.
I thought getting old would take longer. :shock:
Yeah but of course when you have no income or good paying job,then you demand nothing. In the end the upper middle/rich class in the world that this supply will go to. America's lower middle class is shrinking and it's hold on being a fair equitable consumer market for its citizens is being eroded.
The difference between a recession and depression is a good paying job, believe it or not minimum wage should be 16.00 an hour in today's
money with no inflation and not 7.25 an hour. And stagflation has been here since The Federal Reserve pulled real money out of the supply chain in
1965 by withdrawing 90% silver metal from our coinage.
The politicians have debased our currency and given away all good paying jobs to cheap labor with illegal immigration and A.I. robots. Prosperity is never coming back to the common person here in America but socialism with higher taxes and fees with a total awareness police state.
serf
They built a Chewy.com facility here, and they were hiring people off the streets with no training whatsoever for 16/hr plus benefits to start. That's a job involving putting dog food in a box to be shipped.
In my trade you can't hire someone to change air filters for 16 bucks, and a mid level technician will get 25 to 30 bucks plus benefits, OT, company truck, etc.
Oh,....the job market is so bad that the only people you can find to apply for jobs are 18 to 21 year olds that have been working at Burger King, or have a history of being fired after 2 months on their 25 jobs they have held.
Give me a break.
I could make 200-300 dollars in tips in today's money sacking groceries in 1964 on a good Saturday. Today if you made 100 dollars in ten hours you would be lucky and of course after paying taxes on social security it would be less,You miss the whole point, fiat money is a scam and holds a slippery slope to all who holds it. That's why stocks are always going up,it's inflationary funny money buying it. Real money holds value not imaginary fake money held by a monopoly of foreign owners with central banks.
The IMF is sounding the alarm bells to dump the dollar right now in banking circles to de invest in all US currency by 2/3rds.
serf
https://www.ainsliebullion.com.au/gold-silver-bullion-news/the-sdr-and-gold-e2-80-93-where-the-e2-80-98world-is-heading-e2-80-99/tabid/88/a/1957/default.aspx
As we mentioned yesterday and regularly readers will know, Jim Rickards is a strong proponent of the theory that we will end up with the SDR as a global reserve currency and that gold will underpin it as gold is inflated to deflate the debt pile. He is predicting $10,000 gold on that basis. Indeed since the Yuan was accepted into the SDR in October 2016, there has been a steady correlation between the SDR and gold price at around SDR900= 1oz gold. Rickards believes the chances of that being coincidence are ?infinitesimal?.
The solution is to make real silver dollars again and circulated it freely so people can have intrinsic value in their coinage instead of fiat money which is
is only a transient scheme to steal wealth from our nation.
serf
https://wolfstreet.com/2019/11/18/us-national-debt-spiked-by-1-3-trillion-in-12-months-to-23-trillion-but-who-bought-this-pile-of-treasury-securities/
The US Gross National Debt has jumped by $1.28 trillion as of today, compared to 12 months ago, to $23.04 trillion. And these are the good times. The economy is rocking and rolling, we?re told. How will this debt balloon during the next economic downturn? Yes, that was a rhetorical question. It?s better to not even think about it. And no one is thinking about it
In the end, you are still in the same place, just exchanging more dollars for the same stuff or service.
https://cdn.historydaily.org/content/104680/51bd7a032f3c7fa101dfe2f614660e88.jpg
We have enough gun laws, what we need is IDIOT control.
Blood makes you related. Loyalty makes you family.
I thought getting old would take longer. :shock:
Precisely right,That's why gold is held in central banks now! Your post proves it enough said! Give then 6 sliver quarters an hour instead! OH But wait everybody would smuggle it out or hoard it for its real money with no ties to central banking!
serf
However, neither gold, silver, diamonds, rubies, REALLY have any value other than the value the public put on it .... just like the printed dollar or coins used in circulation today.
We have enough gun laws, what we need is IDIOT control.
Blood makes you related. Loyalty makes you family.
I thought getting old would take longer. :shock:
However, neither gold, silver, diamonds, rubies, REALLY have any value other than the value the public put on it .... just like the printed dollar or coins used in circulation today.
We have enough gun laws, what we need is IDIOT control.
Blood makes you related. Loyalty makes you family.
I thought getting old would take longer. :shock:
Wow serf.. What grocery store did you work in?? Back in 64-66 l was at Winn-Dixie in Charleston. The average tip was a QUARTER. Pretty good on a min wage job @$1.10-$1.25 per hr. l doubt the store manager made over $150 a week. Using your tips of $200 on a Saturday and my avg tip of a QUARTER you would bagging and carrying out app 1600 orders on an 8 hr day... That's 200 orders an hour. 3600seconds in an hour... That's a sacked/carryout order every EIGHTEEN SECONDS... That should be in ''GUINESS BOOK OF RECORDS'' :shock:
Not a bad gig if you can get it! :P
Six silver 90% quarters = 16.00 On Saturday most people bought groceries for the week so 18 carry outs every two hours= 50 dollars an hour
in today's money. Having real intrinsic money is what Our fore fathers called for but our politicians sold us out! LBJ with The Great Society and The Vietnam War is what we got instead!
The silver in the coins is what you are missing in your calculations! Which is real money not fake fiat Federal reserve dollars! Six quarters is worth 16 dollars in today's money! That's how bad they have robbed we the people! wake up!
serf
serf- l still have quite a few of those silver quarters. Shoulda onloaded them back in 2011 when silver was around $40 an ounce. Sister got a 64 1/2 Mustang that year. 260 V8-- Almost $2500 :shock: l banked my Winn-Dixie paycheck and lived off the tips.. Gas was app 29cents a gallon... A great
date would cost maybr $5.. $1 for a ticket to the Gloria Theatre, plus $3 for a pizza/Cokes at Labrascas' Pizzaria... First of the month was ALWAYS the best time TIPS.. Our store was in Pine Haven Shopping Center-Near the Navy Base in Charleston.. ALL military got paid on the FIRST... 1964 was also the year of L B Johnson's ''Great Society''. And the first year of Food Stamps.. We called it Monopoly Money at WD.