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China’s workers strike and get higher pay……Higher prices coming for their goods?

[ Striking workers on Monday at Foshan Fengfu Autoparts, which supplies parts to Honda Motor’s joint-ventures in China.]

A sort of revolution in wages is starting in China…..

Honda Motors is settling one strike after another by increasing its Chinese workers pay…..

The trend seems to be spreading……

Another company Foxconn  a huge electronic manufacturing company has had employee deaths rise due to economic and life style problems…..

China ….

In the middle of a enormous economic boom is experiencing capitalistic symptoms…

Increase pay pressure…

Housing issues…

Health and welfare issues…..

The issues are beginning to leak out to the media……

As the Dog has written several months before China must be carefull to handle its economic growth…

Since it needs employment to keep its huge population content with its central controled political system….


Economists say that China’s labor force is growing increasingly bold and that over the past year, periodic strikes in southern China — some even involving global companies — have been resolved quietly or not reported in the media.

To resolve the strike at its transmission plant, Honda offered workers raises of 24 to 32 percent. The strike had forced Honda to shut down its assembly plants in China.

Now Honda, Japan’s second-largest automaker, after Toyota Motor, has been a target again. The exhaust-system factory, which is controlled by a joint venture between a Honda subsidiary and a Chinese company.

Honda owns a network of production facilities in China, including the four car assembly factories and three auto parts manufacturers, as well as two motorbike plants, two plants that make generators, pumps and other power equipment and three research centers.

Those numbers do not include factories opened in China by Honda subsidiaries like Yutaka Giken, which separately runs four auto parts manufacturers in the country.

Honda denied Tuesday that it was vulnerable to more strikes because it had already shown a willingness to increase wages to get employees back to its production lines. “It’s not at all clear at this point whether the two strikes are related,” said Ms. Asanuma, the Honda spokeswoman.

“It’s too early at this point to say whether we are looking at some kind of chain reaction.”

More….

Oh, Yea????

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June 8, 2010 Posted by | Automobiles, Blogs, Breaking News, Counterpoints, Food, Government, Health, Home, Media, PoliticalDog Calls, The Economy, Updates | , , , , , , , , | 3 Comments

China's workers strike and get higher pay……Higher prices coming for their goods?

[ Striking workers on Monday at Foshan Fengfu Autoparts, which supplies parts to Honda Motor’s joint-ventures in China.]

A sort of revolution in wages is starting in China…..

Honda Motors is settling one strike after another by increasing its Chinese workers pay…..

The trend seems to be spreading……

Another company Foxconn  a huge electronic manufacturing company has had employee deaths rise due to economic and life style problems…..

China ….

In the middle of a enormous economic boom is experiencing capitalistic symptoms…

Increase pay pressure…

Housing issues…

Health and welfare issues…..

The issues are beginning to leak out to the media……

As the Dog has written several months before China must be carefull to handle its economic growth…

Since it needs employment to keep its huge population content with its central controled political system….


Economists say that China’s labor force is growing increasingly bold and that over the past year, periodic strikes in southern China — some even involving global companies — have been resolved quietly or not reported in the media.

To resolve the strike at its transmission plant, Honda offered workers raises of 24 to 32 percent. The strike had forced Honda to shut down its assembly plants in China.

Now Honda, Japan’s second-largest automaker, after Toyota Motor, has been a target again. The exhaust-system factory, which is controlled by a joint venture between a Honda subsidiary and a Chinese company.

Honda owns a network of production facilities in China, including the four car assembly factories and three auto parts manufacturers, as well as two motorbike plants, two plants that make generators, pumps and other power equipment and three research centers.

Those numbers do not include factories opened in China by Honda subsidiaries like Yutaka Giken, which separately runs four auto parts manufacturers in the country.

Honda denied Tuesday that it was vulnerable to more strikes because it had already shown a willingness to increase wages to get employees back to its production lines. “It’s not at all clear at this point whether the two strikes are related,” said Ms. Asanuma, the Honda spokeswoman.

“It’s too early at this point to say whether we are looking at some kind of chain reaction.”

More….

Oh, Yea????

June 8, 2010 Posted by | Automobiles, Blogs, Breaking News, Counterpoints, Food, Government, Health, Home, Media, PoliticalDog Calls, The Economy, Updates | , , , , , , , , | 3 Comments

The U.S. Economy moves up……..

U.S. retail sales rose more than expected in January, posting a broad-based increase in a sign of promise for the economy at the start of the first quarter.

Separately, U.S. business inventories fell slightly in December, suggesting companies relied on some stockpiles to meet growing demand.

Retail sales last month increased 0.5%, the Commerce Department said Friday. Economists surveyed by Dow Jones Newswires had forecast a 0.3% increase.

The data were originally scheduled for Thursday release, but there was a rare delay because of a record storm that struck an already snowbound Washington.

Aside from the surprisingly strong increase in January, the report showed December retail sales were adjusted upward, to a 0.1% decrease from a previously reported 0.3% decline.

Excluding the car sector, which was flat in January, all other retail sales rose 0.6%, in line with expectations. Ex-auto sales in December fell 0.2%.

The retail-sales data are an important indicator of consumer spending.

Consumer spending makes up 70% of gross domestic product, which is the broad measure of U.S. economic activity. The report generally was positive, indicating consumers are opening their wallets despite high joblessness.

The retail sales report showed U.S. filling station sales rose 0.4%.

Excluding sales of gasoline and cars, other retailers’ sales climbed 0.6% last month, the fifth gain in six months.

Most merchants reflected in the data reported increases, with health and personal-care stores up 0.1%; restaurants and bars up 0.6%; electronic and appliance stores up 1.2%; food and beverage stores up 0.8%; clothing stores up 0.3%; general merchandise stores up 1.5%; mail order and Internet retailers up 1.6%; and sporting goods, hobby, book and music stores up 1.0%.

Note.….The Dog has been concerned about moves by the government to withdraw its assistance in the Housing markets…..While the winter is traditionally a slow time for housing sales……The action’s taken to shore up the FHA (which needs it ) by raising credit and down payment thresholds may backfire in the spring when the housing market should be moving up…..

Check this on housing…..

Sales related to the housing sector, however, suffered big drops. Building material and garden supplies dealers fell 1.2% and furniture retailers tumbled 1.4%.

The link for the Wall Street Journal piece…….

February 12, 2010 Posted by | Breaking News, Government, Media, Other Things, PoliticalDog Calls, The Economy, Updates | , | Leave a comment

Bernanke and the Fed are taking the Economy off life Support….

Federal Reserve Chairman Ben Bernanke began Wednesday to outline how the central bank may tighten monetary policy and end programs used to prop up the economy during the financial crisis.

Bernanke said in written testimony released by the Fed that the economy continues to need “accommodative monetary policies,” but that at some point the central bank will need to tighten monetary policy.

Bernanke was scheduled to testify before the House Financial Services Committee, but the hearing was postponed because of the heavy snowstorm hitting the Washington area.

The testimony begins to shed light on how the Fed will try to navigate the need to boost the economy while also fending off the potential for inflation.

Mr. Bernanke’s speech Wednesday was designed to outline the Fed\’s strategy for withdrawing its extraordinary support for the economy, which has brought the federal-funds rate near zero and led the Fed to buy more than $1 trillion worth of U.S. Treasury and mortgage-backed securities. He said the sequencing and tools the Fed would use to tighten policy would depend on how the economic recovery develops.

The Fed chairman said he didn’t currently anticipate that the Fed would sell any of its holdings of long-term U.S. Treasurys or mortgage-backed securities “in the near term,” and probably not “until after policy tightening has gotten under way and the economy is clearly in a sustainable recovery.” But over time, he said, “the Federal Reserve anticipates that its balance sheet will shrink toward more historically normal levels and that most or all of its security holdings will be Treasury securities.”

Bernanke was confirmed to his second term as chairman with the fewest votes in support of any Fed chairman. The Fed has come under heavy criticism from congressional lawmakers for its role in the run-up to the financial crisis and for the various steps taken by the Fed and other government offices to bail out financial firms.

Bernanke said that the Fed currently has $116 billion in credit extended stemming from the bailouts of Bear Stearns and American International Group (AIG), the crippled insurer. Bernanke said that the Federal Reserve Board “continues to anticipate that the Federal Reserve will ultimately incur no loss on these loans.”

Bernanke reiterated his support for a new regulatory system to allow for the resolution of failing firms that threaten the broad financial system.

The Dog hopes that this is the right timing…..Some Banks are experiencing slowdowns in mortgage s on home…while it is the slow season of the winter….Bnaks and Mortgage originators are worried that more stringent and higher thresholds for new home buyers may hurt the market…..But the Dog understands that with the FHA having problems with loans…they need to shore up their bottom line with sound strong loans….One hops that the spring brings more growth in the housing market which drove the country into its steep recession a year ago….

February 10, 2010 Posted by | Blogs, Breaking News, Government, Law, Media, Men, PoliticalDog Calls, Politics, The Economy, Updates | , , , , | Leave a comment