United Auto Workers

Cleveland-Cliffs to Host United States Secretary of Energy Jennifer Granholm at its Butler Works

Retrieved on: 
Monday, April 22, 2024
Steel, Utilities, Automotive Manufacturing, Manufacturing, Alternative Energy, Energy, Mining, Minerals, Machine Tools, Metalworking & Metallurgy, Natural Resources, United Auto Workers, DOE, USW, International Association, JSW Steel, IAM, GOES, Cleveland-Cliffs, United Steelworkers, UAW

Cleveland-Cliffs Inc. (NYSE: CLF) announced that it is hosting Secretary Jennifer Granholm at its Butler Works plant in Pennsylvania today, April 22nd.

Key Points: 
  • Cleveland-Cliffs Inc. (NYSE: CLF) announced that it is hosting Secretary Jennifer Granholm at its Butler Works plant in Pennsylvania today, April 22nd.
  • Cleveland-Cliffs is the sole producer of GOES in the United States, and was selected for award negotiations for up to $75 million in total funding from the DOE to pursue a decarbonization investment at Butler Works.
  • During the visit, Secretary Granholm will tour the plant and meet with Cleveland-Cliffs’ Chairman, President and Chief Executive Officer Lourenco Goncalves, company officials, employees as well as union leaders from the United Auto Workers (UAW), the United Steelworkers (USW) and the International Association of Machinists (IAM).
  • Mr. Goncalves will be hosting a speaking program with Secretary Granholm and other invited speakers that will be live streamed on the Company’s YouTube channel.

Jornlin Joins White House National Economic Council Event to Catalyze Strategic Sector Investment and Economic Development in Underserved Communities.

Retrieved on: 
Monday, April 22, 2024
Education, Trade, Administration, Congress of Industrial Organizations, Investment, Painting, Treasury, Partnership, SBA, Labour, NABTU, IBEW, Private sector, LIUNA, United Auto Workers, Congress, Frostburg State University, American Federation of Labor, Workforce, Group Policy, DOE, EPA, USW, ARC, Housing, HUD, IAM, EDA, Laborer, United Steelworkers, Multimedia, Economic development, Fellow, IUPAT, University, Behavior informatics, Allegany College of Maryland, Eastern Shore of Maryland, International Association, Small Business Administration, UAW, National Economic Council, Machinist, Renewable energy

WASHINGTON, April 22, 2024 /PRNewswire-PRWeb/ -- On Monday, April 22, Optimize Renewables CEO Len Jornlin will present at a White House Event on "Catalyzing Strategic Sector Investment & High-Road Practices." This convening, part of a series of discussions on aligning private sector resources with investments in clean energy, infrastructure, and manufacturing will be hosted by The White House National Economic Council, in partnership with Heartland Capital Strategies. The objective of these discussions is to accelerate the energy transition and promote economic development in communities too often left behind.

Key Points: 
  • WASHINGTON, April 22, 2024 /PRNewswire-PRWeb/ -- On Monday, April 22, Optimize Renewables CEO Len Jornlin will present at a White House Event on "Catalyzing Strategic Sector Investment & High-Road Practices."
  • The objective of these discussions is to accelerate the energy transition and promote economic development in communities too often left behind.
  • The event will feature opening remarks from Dr. Lael Brainard , Director of the National Economic Council .
  • "We sincerely appreciate the opportunity to participate with Heartland Capital Strategies in this White House National Economic Council convening," Jornlin said.

Cleveland-Cliffs Applauds DOE’s Final Transformer Efficiency Standard Rule

Retrieved on: 
Thursday, April 4, 2024
Urban Planning, Public Policy, Government, Mining, Minerals, Other Construction & Property, Natural Resources, Machinery, Other Energy, Machine Tools, Metalworking & Metallurgy, Utilities, Construction & Property, Steel, Energy, White House, Federal Government, Automotive Manufacturing, Manufacturing, Labor, JSW Steel, Amorphous metal, Employment, United Auto Workers, GOES, Plant, Investment, Cleveland-Cliffs, Workforce, UAW, DOE

Cleveland-Cliffs Inc. (NYSE: CLF) today applauded the Department of Energy’s (DOE) final transformer efficiency standard rule that will provide for the continued utilization of Grain-Oriented Electrical Steel (GOES) in virtually all of Cliffs’ current distribution transformer end markets.

Key Points: 
  • Cleveland-Cliffs Inc. (NYSE: CLF) today applauded the Department of Energy’s (DOE) final transformer efficiency standard rule that will provide for the continued utilization of Grain-Oriented Electrical Steel (GOES) in virtually all of Cliffs’ current distribution transformer end markets.
  • With this revised rule, the DOE acknowledged the fundamental importance of GOES and the essential role played by Cleveland-Cliffs steel plants in Butler, PA and Zanesville, OH in effectively sustaining the functionality of the U.S. electric grid.
  • Lourenco Goncalves, Cleveland-Cliffs’ Chairman, President and Chief Executive Officer said, “We are grateful that the U.S. Department of Energy (DOE) was open to the feedback provided by Cleveland-Cliffs and our clientele of transformer manufacturers, and adopted major changes to the originally proposed transformer efficiency rule.
  • The final rule ensures Cliffs’ ability to continue producing highly-efficient GOES in the United States.

Cleveland-Cliffs Selected to Receive $575 Million in US Department of Energy Investments for Two Projects to Accelerate Industrial Decarbonization Technologies

Retrieved on: 
Monday, March 25, 2024
Manufacturing, White House, Federal Government, Mining, Minerals, Natural Resources, Green Technology, Steel, Public Policy, Government, Environment, Machinery, Machine Tools, Metalworking & Metallurgy, Sustainability, Blast furnace, Ministry of Energy, COVID, Natural gas, United Auto Workers, Partnership, GHG, International Association, Public expenditure, Carbon, IAM, Joe Biden, USW, Plant, Hatch, Cleveland-Cliffs, Workforce, UAW, Primary energy, DRI, DOE, Inflation, Hand, Iron, EMF, Renewable energy

This federal funding is being made available through DOE’s Industrial Demonstrations Program funded through the Infrastructure Investment and Jobs Act and the Inflation Reduction Act.

Key Points: 
  • This federal funding is being made available through DOE’s Industrial Demonstrations Program funded through the Infrastructure Investment and Jobs Act and the Inflation Reduction Act.
  • Middletown will maintain its existing raw steel production capacity of approximately 3 million net tons per year and will no longer use coke for iron production.
  • We are grateful for the support of the Department of Energy and their recognition of Cleveland-Cliffs’ strong leadership in steel decarbonization.
  • The Department of Energy has facilitated a perfect situation for our union workforce, our decarbonization endeavors, our communities in Ohio and Pennsylvania, and our shareholders.”
    U.S.

Fox Factory Holding Corp. Reports Fourth Quarter and Fiscal 2023 Financial Results

Retrieved on: 
Thursday, February 22, 2024
Acquisition, OEM, Investment, United Auto Workers, Original equipment manufacturer, SSG, ID, AAG, Fox Factory, Completeness, Element, UAW, Marucci, Workforce, PVG, Stock, Environment, Security (finance)

DULUTH, Ga., Feb. 22, 2024 (GLOBE NEWSWIRE) -- Fox Factory Holding Corp. (NASDAQ: FOXF) (“FOX” or the “Company”) today reported financial results for the fourth quarter and fiscal year ended December 29, 2023.

Key Points: 
  • DULUTH, Ga., Feb. 22, 2024 (GLOBE NEWSWIRE) -- Fox Factory Holding Corp. (NASDAQ: FOXF) (“FOX” or the “Company”) today reported financial results for the fourth quarter and fiscal year ended December 29, 2023.
  • Gross margin was 27.7% for the fourth quarter of fiscal 2023, a 430 basis point decrease from gross margin of 32.0% in the fourth quarter of fiscal 2022.
  • Adjusted EBITDA in the fourth quarter of fiscal 2023 was $38.8 million, compared to $76.8 million in the fourth quarter of fiscal 2022.
  • Adjusted EBITDA margin in the fourth quarter of fiscal 2023 was 11.7%, compared to 18.8% in the fourth quarter of fiscal 2022.

Services PMI® at 53.4%; January 2024 Services ISM® Report On Business®

Retrieved on: 
Monday, February 5, 2024
Paper, Growth, Transport, Backlog, Welfare, CFPM, Science, Renting, Steel, Retail, Uncertainty, Real estate, UAW, Suez Canal, Foodservice, Forestry, CPSM, Public administration, Education minister, Index, Communication, Entertainment, United Auto Workers, Inventory, Finance, Public utility, Iron, Employment, Business

TEMPE, Ariz., Feb. 5, 2024 /PRNewswire/ -- Economic activity in the services sector expanded in January for the 13th consecutive month as the Services PMI® registered 53.4 percent, say the nation's purchasing and supply executives in the latest Services ISM® Report On Business®. The sector has grown in 43 of the last 44 months, with the lone contraction in December 2022.

Key Points: 
  • TEMPE, Ariz., Feb. 5, 2024 /PRNewswire/ -- Economic activity in the services sector expanded in January for the 13th consecutive month as the Services PMI® registered 53.4 percent, say the nation's purchasing and supply executives in the latest Services ISM® Report On Business®.
  • The Business Activity Index registered 55.8 percent in January, matching the seasonally adjusted reading of 55.8 percent in December.
  • The index returned to expansion — indicating that supplier delivery performance was slower — after three consecutive months in contraction (or 'faster') territory.
  • The 10 services industries reporting growth in January — listed in order — are: Health Care & Social Assistance; Agriculture, Forestry, Fishing & Hunting; Professional, Scientific & Technical Services; Public Administration; Utilities; Accommodation & Food Services; Construction; Other Services; Educational Services; and Management of Companies & Support Services.

Comerica Bank's Michigan Index Rebounded in October Despite the UAW Strike

Retrieved on: 
Monday, January 22, 2024
Comerica, Wealth management, Employment, Automotive industry, United Auto Workers, Multimedia, Electricity, Housing, Commercial bank, Retail, CMA, EV, Archive, GDP, Publication, Unemployment

The Michigan labor market is likely to recover to its pre-strike condition in early 2024, since the strike ended before 2023's critical holiday shopping season.

Key Points: 
  • The Michigan labor market is likely to recover to its pre-strike condition in early 2024, since the strike ended before 2023's critical holiday shopping season.
  • The timeliest data on auto production, which are not yet incorporated into the index, largely rebounded to pre-strike levels in late 2023.
  • The Comerica Michigan Economic Activity Index is a monthly composite indicator of state economic activity.
  • To filter out month-to-month volatility in the index components, the index is calculated from the three-month moving averages of its components.

VOXX International Corporation Reports its Fiscal 2024 Third Quarter Financial Results

Retrieved on: 
Tuesday, January 9, 2024
Engineering, Depreciation, Research, Judgement, OEM, Tax, United Auto Workers, Advertising, Kool-Aid, Adjustment, Radio, Interest, Appeal, RCA, Risk, Sale, GAAP, Travel, Acquisition, Electronics, Calendar, Webcast, Sharp Corporation, American Arbitration Association, Hearing, Fiscal, Automotive Electronics Council, G&A, UAW, Security (finance), Vexatious litigation, Consumer electronics, CE

ORLANDO, Fla., Jan. 9, 2024 /PRNewswire/ -- VOXX International Corporation (NASDAQ: VOXX), a leading manufacturer and distributor of automotive and consumer technologies for the global markets, today announced its financial results for its Fiscal 2024 third quarter ended November 30, 2023.

Key Points: 
  • ORLANDO, Fla., Jan. 9, 2024 /PRNewswire/ -- VOXX International Corporation (NASDAQ: VOXX), a leading manufacturer and distributor of automotive and consumer technologies for the global markets, today announced its financial results for its Fiscal 2024 third quarter ended November 30, 2023.
  • Net income attributable to VOXX International Corporation in the Fiscal 2024 third quarter was $1.9 million as compared to a net income attributable to VOXX International Corporation of $7.4 million in the comparable Fiscal 2023 period.
  • The Company reported basic and diluted income per share attributable to VOXX International Corporation of $0.08 in the Fiscal 2024 third quarter as compared to basic and diluted income per common share attributable to VOXX International Corporation of $0.30, in the comparable Fiscal 2023 period.
  • Net loss attributable to VOXX International Corporation in the Fiscal 2024 nine-month period was $19.9 million as compared to a net loss attributable to VOXX International Corporation of $9.3 million in the comparable Fiscal 2023 period.

Manufacturing PMI® at 47.4%; December 2023 Manufacturing ISM® Report On Business®

Retrieved on: 
Wednesday, January 3, 2024
Fiore, Forecasting, Printing, United Auto Workers, Customer, Backlog, Textile manufacturing, Computer, USB On-The-Go, Employment, Wood, Plastic, Overalls, Steel, UAW, Food, Appliance, Drink, Allied Corporation, Order, CPSM, Furniture, Commodity, Gross domestic product, Transport, Component, GDP, Electronic Products, Growth, Heated tobacco product, Production, Gasoline

TEMPE, Ariz., Jan. 3, 2024 /PRNewswire/ -- Economic activity in the manufacturing sector contracted in December for the 14th consecutive month following a 28-month period of growth, say the nation's supply executives in the latest Manufacturing ISM® Report On Business®.

Key Points: 
  • (A Manufacturing PMI® above 48.7 percent, over a period of time, generally indicates an expansion of the overall economy.)
  • The Backlog of Orders Index registered 45.3 percent, 6 percentage points higher than the November reading of 39.3 percent.
  • "The Supplier Deliveries Index figure of 47 percent is 0.8 percentage point higher than the 46.2 percent recorded in November.
  • Fiore continues, "The U.S. manufacturing sector continued to contract, but at a slightly slower rate in December as compared to November.

Katten Names Gil M. Soffer As Its Next Chair

Retrieved on: 
Monday, December 4, 2023
Corporate Fraud Task Force, Associate, Corporation, Executive Committee, Chair, Lawsuit, United States district court, White collar, State, Culture, Intellectual property, United Auto Workers, District court, DOJ, Government, Private investigator, Katten

"I have no doubt the next chapter of the firm will be in very capable hands with Gil and Noah," Furey added, referring to Katten CEO Noah Heller.

Key Points: 
  • "I have no doubt the next chapter of the firm will be in very capable hands with Gil and Noah," Furey added, referring to Katten CEO Noah Heller.
  • Before joining Katten in 2000, Soffer served as a federal prosecutor for six years in Chicago.
  • "Roger and Noah have been a top-notch team, growing the firm, recruiting the best talent and guiding Katten through unprecedented times," Soffer said.
  • Katten represents public and private companies in numerous industries, as well as a number of government and nonprofit organizations and individuals.