Where is the US economy headed?

I wonder if the president also approves of the Air Force letting a multi billion contract for tankers half of which will be manufactured in Europe at the expense of 19000 US jobs. The procurement agency of the AF IMO deserves a good kick in the rear end.

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Right, this sh¡t globalisation and freedom of trade!

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Walter
Need I remind you that is my and every other Americans tax dollars they are spending. Considering the state of the American economy they should be spent where they would do the most good for the US economy and worker.

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au, Under the circumstances that our defense department and the different branches of our military have spent tax dollars foolishly doesn't bode well for your argument. They have wasted billions of dollars unnecessarily that have hurt our soldiers by not providing the right kind of equipment in the battlefield.

If you are arguing about keeping jobs in the US, I must wholeheartedly disagree. I believe in the freedom of trade; to purchase whatever is needed for the best quality at the best price. In other words, a legitimate bidding process unlike how Halliburton were given billion dollar contracts without bids. That is wrong-headed for any business or our government.

Sorry.

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CI
There is a decided difference between what went on with Halliburton in Iraq and the letting of this contract. And yes wherever possible the American manufacturer should be given preference wherever possible. Particularly in times such as this.

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au1929 wrote:

CI
There is a decided difference between what went on with Halliburton in Iraq and the letting of this contract. And yes wherever possible the American manufacturer should be given preference wherever possible. Particularly in times such as this.

Even if the American manufacturer is 2 or 3 times as expensive as an overseas supplier of the same thing?

Are you saying that is OK to waste tax dollars now?

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mysteryman wrote:

au1929 wrote:
CI
There is a decided difference between what went on with Halliburton in Iraq and the letting of this contract. And yes wherever possible the American manufacturer should be given preference wherever possible. Particularly in times such as this.

Even if the American manufacturer is 2 or 3 times as expensive as an overseas supplier of the same thing?

Are you saying that is OK to waste tax dollars now?

To begin with based on what I heard during the hearings price was not in question. However regarding cost even were it some what higher. The difference would be more than made up by the tax dollars paid by the 19000 American workers which otherwise would have lost their jobs as well as the other businesses they fuel. In addition it will help maintain our industrial base.

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au1929 wrote:

However regarding cost even were it some what higher. The difference would be more than made up by the tax dollars paid by the 19000 American workers which otherwise would have lost their jobs as well as the other businesses they fuel. In addition it will help maintain our industrial base.

And that's exactly the argument of all and everyone who's anti globalisation.

So where's the difference?

It's obviously excellent when the US earns from it, evil like hell, when it happens in and to the United Staes.

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Walter
Whether I support globalization is irrelevant. It is a fact of life in the world economy. However, we do not have to support it with our tax dollars.

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So how would that work, I wonder.

(On the other hand, EADS had a "less expensive" bid and would produce a "less risky" plane, according to Air Force Secretary Michael Wynne in the Wshington Times.)

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Walter
What would you expect him to say. He must support his position. That remains to be proven. IMO the funding for the folly which needs the approval of congress IMO will not stand.

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from what i know , foreign airlines and air forces have bough plenty of american airplanes over the last decades - not just boeing but many other U.S. airplanes .
if the airbus tanker is recommended by the airforce as an overall more suitable tanker , should their recommmendations be thrown to the wind ?

if free trade is to have any chance of operating , it is clear that not all products will be manufactured domestically .

i wonder what the U.S. government would say if a canadian government would decide to restrict the flow of canadian gas and oil to the U.S. for whatever reason ?
we might as well have a burial ceremony for free trade and NAFTA if countries believe that "protectionism" is the way to go .

an interesting article from the website of the BOEING company :

Quote:

China has an increasingly sophisticated and expanding part to play in the commercial aviation industry and has a role on all of Boeing commercial airplane models -- 737, 747, 767, 777 and the newest and most innovative airplane, the 787 Dreamliner. China builds horizontal stabilizers, vertical fins, the aft tail section, doors, wing panels and other parts on the 737; 747 trailing edge wing ribs; and 747-8 ailerons, spoilers and inboard flaps. China also has an important role on the new 787 Dreamliner airplane, building the rudder, wing-to-body fairing panels, leading edge and panels for the vertical fin, and other composite parts.

Since the 1980s, Boeing has purchased more than US$1 billion in aviation hardware and services from China. Today, Boeing and Boeing supplier partners have active supplier contracts with China's aviation industry valued at well over $2.5 billion. Today, there are more than 4500 Boeing airplanes flying throughout the world with parts and assemblies built by China.

China is the first conversion location for the new 747-400 Boeing Converted Freighter. Many parts and assemblies are built in China. Conversion, test and certification are performed in China and airplanes are delivered from China.

article in full
BOEING - CHINA CO-OPERATION

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If we really want to get technical, Boeing airplanes are produced in many countries - not just the US.

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At least our local industry doesn't mind: the lighting systems for (most) Boeing aircrafts as well as (all) Airbusses are produced here in my hometown Laughing

(Okay, maybe Boeing gets them from their factory in Florida.)

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okie asked:

Quote:

ci, a question here, if you are running a business and it starts to lose money, how do you return to profitibility?
Raise prices?
Lower prices?
Cut Expenses and how? Such as cut wages, fire employees, cut operating cost, or cut corners on product to reduce cost, or ?
Improve product or service?
Eliminate some of the products or services that are losing money?
Raise wages for some employees, while firing others?
Reduce benefits for employees?
Pick from the above or if your solution is not in the list, feel free to insert another answer.

cicerone imposter wrote:

Good managers know what to do in any circumstance. Unfortunately, Bush was never a good manager of anything.

Nice dodge of the question. I realize not all situations are the same, but normally, what would usually work best, in your opinion? After all, you are a financial wizard.

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okie, That's not a dodge; it answers you question perfectly. Depending on what industry, a good manager will take into consideration many aspects of how to best manage the situation. Like many things economic, it's more a skill and art than science.

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There are a few universal rules to follow that work most of the time, ci, and other things seldom work. Sam Walton proved some of them.

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Sam Walton is only one of millions of owners/managers. What's your point?

What's this "universal rule" you're talking about? Please be specific.

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Okie, I don't understand what you meant by "universal rules" and I look forward to what they might be. I am not being cynical or critical.

I have been in the retail business for more than 30 years with a chain of stores in Virginia. About $2.5 million in sales. Now I am reaching the age, though, where we are in transition. I am selling some of my stores to employees.

I reckon I do have some core values that were instilled in me by my parents and those do tend to permeate through the organization that, before the divestiture of stores, employed about 35 people. But I digress.

To answer your questions from my perspective:
Raise prices? Yes; Lower Prices? Yes; Cut Operating Costs? Yes; Eliminate Some Product Lines? Yes; Raise Wages For Some While Eliminating Other Positions? Yes; Reduce Employee Benefits? No, But.

I won't take the space to explain the rationale behind those decisions. But that is how I would respond to your list in 2008. If you had asked the same questions 25 years ago or 15 years ago, my responses might have been different. RJB.

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i recall an interview a succesful business owner gave some time ago .
we had been the receipient of various awards for small business over the years .

his answer was pretty straigh-forward and simple :

"make sure that your employees are happy to work with and for you !
they are the ones that deal with the customers , so you better make sure that they understand that their success is furthered by the success of the business . "
he added :
"if you do not treat your employees with respect , they won't treat the customers with respect - that's not a win-win but a lose-lose deal - and the employer is the big loser ".
hbg

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Where is the US economy headed?

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