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Afternoon Note

Manufacturing Looks to the Future
By Charles Payne, CEO & Principal Analyst
2/16/2017 1:38 PM

There is lots of big news out of manufacturing this week that will culminate with Boeing unveiling its 787-10 airliner.

  • Empire State & Philly Fed Surging
  • Machinist Reject Unions
  • President Trump Celebrate Launch of 787-10

 

Image result for 787 10

 

It was Mark Fields, CEO of Ford, who said we could be on the cusp of a manufacturing renaissance in America and, if that is the case, it will be driven in part by worker freedom.  It is no secret that, at one point in American history, the nation’s workers need more rights. 

The labor movement got its spark from the shock of the nation in the aftermath of the Triangle Shirtwaist Factory fire in New York City on March 25, 1911.  That was the deadliest industrial disaster in the history of the United States. 

Unfortunately, that “movement” was hijacked out the gate by the infiltration of organized crime and ultimately union boss greed that put customers, businesses and even membership concerns behind their own interests.  Public sector unions have been in a death spiral that might have seen the final nail yesterday when machinists at the Boeing plant in South Carolina overwhelmingly voted against organizing.

I should note that President Trump has a great relationship with rank and file union members, many of whom crossed the line to cast their vote against the wishes of their bosses.  Maybe unions will get the message and overthrow their own elites and re-focus on the future, not the past.

Things are changing. There is a palpable excitement in the nation centered on manufacturing, which has begun to takeoff at 787-10.

The market is struggling a bit, but it’s long overdue for a pause. I see nothing negative fundamentally to attribute it to other than profit-taking and a natural stall.


 

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