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- Issue 2 Week 1
Issue 2 Week 1
Victor Anderson
July 19, 2024
Shop Floor Scoop
My ADHD is kicking in strong this morning. I ran out of decaf and am bouncing off the damn walls. Just kidding, but here’s the news: manufacturing is up, everyone is starting to look like Terry Francona before 2016, and metal flowers are growing in Alabama.
Today’s email includes:
US Manufacturing Output Surged in June: Factory production jumped by 0.4% in June, beating predictions. This shows a rebound in the manufacturing sector, especially in car and parts production.
Pack it up, your lip I mean…: Zyn is opening a $600 million plant, bringing 500 new jobs with good salaries to Aurora, CO, and is expected to boost the local economy by $1 billion.
A cool music video: Southern rock band, Them Dirty Roses, released a new music video for their song "Birmingham Steel." It features metal fabricator Alicia Butty crafting steel roses.
US Manufacturing Output Surged in June
Factory Production Beats the Forecast
In a pleasant surprise for the U.S. economy, factory output rose by 0.4% in June. Which surpasses economists' predictions of a 0.2% rise. The increase follows a revised 1.0% gain in May. This indicates a rebound in the manufacturing sector.
The uptick in June continues a positive trend for the second quarter in a row. And production has been advancing at a 3.4% annualized rate. This is a significant recovery from the 1.3% decline seen in the first quarter. Manufacturing, representing about 10.4% of the U.S. economy, has been struggling due to high borrowing costs and decreased demand. But there is optimism in the air.
Sector Highlights
Motor vehicle and parts production led the charge with a 1.6% increase in June, rebounding from a flat performance in May. But, not all sectors shared this growth:
Durable goods manufacturing held steady.
Increases in motor vehicles and electrical equipment were offset by declines in fabricated metal products and other categories.
Nondurable manufacturing saw a 0.8% rise.
Broader Industrial Trends
Overall industrial production grew by 0.6% in June, after a 0.9% gain in May.
Mining output inched up by 0.3%, and utilities production jumped by 2.8%, following a 1.9% rise in the previous month.
Capacity utilization (how well firms are using their resources) increased to 78.8%. Although that's still below the long-term average.
Manufacturing’s operating rate climbed to 77.9%, still slightly under its historical norm.
Looking Ahead
There’s hope that the manufacturing sector will continue to improve, especially with the Federal Reserve expected to begin easing monetary policy in September as inflation subsides. This could potentially boost factory activity further and help mitigate some of the constraints imposed by high interest rates.
WHAT’S TRENDING?
Bob Newhart as Papa Elf in the move Elf
The comedian, Bob Newhart, died yesterday in his LA home due to several short illnesses.
Bob had a career as an accountant, but in the late 50’s he recorded a comedy album filled with his dry wit and one-sided phone call bits. It took a rocket ship to No. 1 on the Billboard charts, and earned him a Grammy for Album of the year in 1961.
Can you imagine?
He had roles in some of our favorite T.V. shows and movies like:
Elf
Big Bang Theory
Mad Money
Larry the Cable Guy
NCIS
Horrible Bosses
ER
And much, much, more
Bob had a stellar career, and his comedy will be missed by many, but he can live on through his talents and the joy he still brings others.
PACK IT UP, YOUR LIP I MEAN…
Zyn is building a massive plant in Colorado
Big news for Aurora, Colorado!
Let’s focus on the positive, this project is set to bring 500 jobs to Aurora, CO. It's also expected to bring 1,000 adjacent jobs. With a $600 million dollar plant (pun intended) the area is expected to see a ~$1B impact.
Zyn is a trendy brand of nicotine pouches by Swedish Match, which Philip Morris now owns.
Economic Impact
Stacey Kennedy — PMI Americas President and U.S. CEO — shared that this plant will bring an annual economic impact of $550 million.
Not too shabby!
The average salary for the 500 new jobs will be around $90,000. Jobs will range from engineering and production to quality control.
Timeline
Aurora Mayor Mike Coffman announced that construction is set to start later this year. The plant will be located near the Colorado Freedom Memorial, and is expected to be operational by 2025.
FOUND THIS TO BE KIND OF COOL
I’m not sure what they were trying to accomplish with calling it a “facade", but this is supposed to optimize energy for indoor comfort. Although some people did have concerns about keeping the exterior clean of rust from rain…
A COOL MUSIC VIDEO
🎵If you want strong, I’ll be your Birmingham Steel! 🎵
The band named: Them Dirty Roses, just dropped the official music video for their single “Birmingham Steel,” and it’s a gritty homage to the Birmingham steel industry and its unsung heroes. Watch it on YouTube here, it’s pretty sick, but here’s why:
The band is made up of two brothers — James and Frank Ford – and two childhood friends — Ben Crain and Andrew Davis. And they teamed up with Alicia Butty, who is a local metal fabricator (girl power!). The video follows Alicia as she crafts intricate roses out of steel, showcasing her skills in welding and metal fabrication!
It’s pretty epic.
Directed by Blake Judd, the video was shot at Boundary Oak Distillery.
“Birmingham Steel is a deeply personal song for us,” said drummer Frank Ford. “It’s about our roots and the hardworking folks we grew up with. Alicia’s artistry brings this story to life, and we’re grateful she joined us on this journey.”
If you liked the music video then you can go watch them live at Nashville’s Mercy Lounge on October 4th.
Steelin’ the Press
The band’s new single has already caught the attention of Whiskey Riff, Raised Rowdy, Loudwire, Saving Country Music, AL.com, and The Grateful Web.
From ‘Bama to Nashville
Bred in Alabama clay, Them Dirty Roses grew up together and moved to Nashville to chase their musical dreams.
Their relentless touring has built them a loyal fanbase and over 70 million streams of their debut single “Cocaine And Whiskey.”
With over a million monthly Spotify listeners, and packed live shows, their powerful sound is winning hearts across the South and beyond.
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