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Touring America’s musical instrument makers
Dave G. Houser Travel, Hospitality & Event ManagementAmerica’s musical instrument industry is humming right along. It netted $6.2 billion in revenues in 2018, with a profit of $341 million, according to IBISWorld, a Los Angeles-based marketing research firm. A number of instrument makers across the country, including several of the world’s leading guitar and piano manufacturers, invite interested music aficionados to tour their factories and workshops. Here are eight such manufacturers.
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The frightening security risks and potential dangers of IoT
Joseph Zulick Science & TechnologyImagine you are running late one morning, speeding to the airport to catch a flight. You suddenly realize that you forgot to turn off the heat back at home. If your thermostat is networked, then you can remotely shut down the heater using your smartphone. Sounds great, right? What could possibly go wrong? A lot, it turns out. To better illustrate the security issues that "internet of things" devices have and continue to suffer, l will share some of my personal experiences with IoT operational security.
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How technology manufacturing fuels the US-China trade war
Michelle R. Matisons ManufacturingIt’s official: the trade war with China is heating up. On Aug. 5, after President Trump announced increased tariffs on Chinese imports, China devalued the yuan. The New York Times said it was the "worst day of the year" for Wall Street, with the S&P 500 closing down nearly 3%. There’s no consensus on what's happening here. China’s plan to move from cheap to high-value tech goods manufacturing plays a major role in President Trump’s tariff increase on Chinese imports and the no-deal climate between the countries.
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Age discrimination harms everyone, but it’s hard to prove
Patrick Gleeson Business Management, Services & Risk ManagementYou may think you have a realistic understanding of discrimination against older workers, but it's likely you underestimate how widespread age discrimination in employment actually is. For example, "front-facing" jobs in industries that involve in-person contact with customers often go to younger workers whose presence suggests that the company is forward-looking and innovative. Contrary to its reputation for liberal political and social ideas, Silicon Valley is another prominent offender. But it's less well-known that this kind of discrimination exists in nearly every industry in America.
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US economy adds 164,000 new hires; unemployment rate stays at 3.7%
Seth Sandronsky Business Management, Services & Risk ManagementIn July, U.S. payrolls added 164,000 workers versus job gains of 224,000 in June, as the unemployment rate stayed at 3.7%, according to the Bureau of Labor Statistics. There were 6.1 million unemployed workers in July, close to the same number as June. The number of long-term unemployed persons decreased 248,000 in July from June. The employment-to-population ratio rate stayed nearly the same in July versus June, the BLS reported.
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After months of controversy and consequences, Boeing may end 737 Max production
Michelle R. Matisons ManufacturingWhen news of the Boeing 737 Max crashes in Indonesia and Ethiopia spread, repercussions were immense. So far, Boeing reports an $8 billion loss. After the second crash, the company rolled production back from 52 to 42 planes per month. Recently, Boeing suggested it may even end 737 Max production, which could cause "the financial equivalent of a prolonged government shutdown or a significant natural disaster." Already, Southwest Airlines has cancelled Newark service because it cannot fly the 737 Max, for example.
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Why cultural-fit hiring is the enemy of diversity
Simma Lieberman Business Management, Services & Risk ManagementA study by Cubix International of 55 organizations, including Ikea, found that 9 out of 10 recruiters passed over applicants that were not a "cultural fit." Hiring for "cultural fit" has become somewhat of a trend and buzzword. It usually applies to values, visions, norms and the way a company does business. Some people have told me that hiring for "cultural fit," as opposed to just skills, is a way of ensuring that the new hire gets along with everyone and be a "team player." I’ve also been told that it is a way of increasing diversity since you’re not just hiring based on degrees and grades. But what if this is part-fallacy?
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Are manufacturing wages stagnating?
Michelle R. Matisons ManufacturingWhile some argue that a $15 per hour minimum wage still does not provide a living wage, it’s an improvement for all workers regardless of pay disparities among various sectors. At first glance, manufacturing would be one sector least affected by a minimum wage hike. But let's compare recent increases in manufacturing wages. In July 2018, the average manufacturing wage was $21.43. One year later, in June 2019, average wages topped off at $22.03, slightly down from May’s $22.04. This suggests incremental wage growth has now halted: is there wage stagnation in the manufacturing sector?
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AI, IoT converge to create a new technology superpower: AIoT
Joseph Zulick Science & TechnologyWhen people hear the terms artificial intelligence (AI) and internet of things (IoT), most think of modern advances in a futuristic world like those that have been depicted in science-fiction franchises. Many of those predictions are now coming to fruition in this Fourth Industrial Revolution that is currently transforming the way the world works. Even though the full capabilities of AI and IoT are still in their relative infancies, these two technology superpowers are now being combined across every industry to provide scenarios where information and problem-solving can improve outcomes for all stakeholders.
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Common myths about employee handbooks
Catherine Iste Business Management, Services & Risk ManagementEmployers are not required to have a handbook. That is true. State and federal regulations do, however, require employers to provide a variety of information to their employees. The easiest way to do this is often via some sort of handbook. Yet, for those organizations without a handbook, it can be easy to find excuses not to create one. Here are a few myths about handbooks and the corresponding reasons why it is a good idea for every employer to have one.
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