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In my last Fast Company column, I shared my reasons for manufacturing my electric trucks in the U.S. Im not alone. While near-shoring to North America has been underway for several years, the current tariff shifts and shipping complexities make U.S. manufacturing a higher priority still. However, there were 292,825 factories in the U.S. as of 2021. Of those, 846 employ 1,000 people or more. Some of these are my engineering firms clients, giving us a front row seat to the complexity of retrofitting an existing factory to full U.S. manufacturing. While building a new factory is expensive and lengthy, these companies tasks are more difficult still. There are good reasons for making the shift as quickly as possible. Moving to most or fully U.S. manufacturing brings higher visibility, faster response time, and higher resilience to supply chain disruption, as well as greater protection from tariff shifts and geopolitical change. But if youre early in the process, heres my advice for your transition: Determine a priority ranking for the refining and raw materials you shift to in-country and North American sourcing. Give highest ranking to categories including defense, high value items (such as steel, aluminum, and rare minerals, etc.), and consumer safety items (such as pharmaceutical components, etc.). Be more strategic in the offshore suppliers you continue using for non-advanced manufacturing by prioritizing closer and more geographic-friendly locations for production and shipment such as Mexico and Argentina. Utilize government-backed capital, where possible, for extracting/mining minerals and metals such as lithium, red mud, magnesium, etc. Beyond the high-ranking product categories, move to domestic suppliers for primary materials such as steel, aluminum, cement, and plastics. Likewise, reduce offshoring of technical staff as well as raw materials, where possible. Use all means possible to become power independent through solar production, micro-grids, and nuclear power production. Consider creating a 4-year completion bonus for military vets. Hire vets wherever possible, as they make great workers and entrepreneurs. Likewise, we can press for future policy changes that best support Made in America manufacturing, as follows: Encourage ship building in the U.S., as well as creating new means of automated freight transit. Work towards transformation plans for government-funded R&D to include more attractive loans, rebates, and grants, as well as programs for tax-free status for intellectual property during commercialization, to incent and support organizations making the shift. Consider energy rebates to U.S. manufacturers and distributors to make American manufacturing more cost-effective and viable. Create policies to include the cost of offshore staff in tariff calculations. Expand trade relationships with Caribbean nations for products such as sugar, avocados, bananas, etc. Avoid or even ban foreign ownership of the food supply chain. Create fair competition for government contracting. Make health supplements and homeopathic medicines tax deductible, to promote a healthy workforce. While it may not be readily evident, these policy changes are related to successful reshoring. In all, we need larger scale, lower costs, and more automated and simplified mechanisms for product manufacturing. These issues, in my experience, are as equally important as the raw materials we require. We need increased support for niche manufacturing. In my opinion, we also need deregulation, and increased access to land (particularly in the west; the federal government owns great quantities of the available land, which is choking available supply). I believe we need better education, self-reliance, health, and incentive structures to get the capital, entrepreneurs, and workers for Made in America manufacturing. Whos with me? Matthew Chang is the founding partner of Chang Robotics.
Category:
E-Commerce
Layoff announcements from U.S. employers have increased 80% to 696,309 job cuts through May of this year, compared to the 385,859 cuts announced throughout the first five months of 2024, according to the latest layoffs report from Challenger, Gray & Christmas. Federal government agencies have been most impacted by planned job cuts in 2025, with 284,827 job reductions year to date, compared to 36,325 U.S. government job cuts announced during the same period last year. Retail is the second-leading industry in job cuts this year, with 75,802 cuts since the start of 2025. That’s a 274% increase in retail job reductions compared to the same period last year, when U.S. companies announced 20,276 layoffs. Why are companies laying off workers? According to the report, DOGE-related efforts remain the leading reason given for job cut announcements this year. This includes reductions in federal employee and contractor roles, and private nonprofit layoffs resulting from federal funding cuts. Market and economic conditions were the second-most cited explanation for announced U.S. layoffs, followed by store closings. In a news release discussing the layoff report, Andrew Challenger, senior vice president of Challenger, Gray & Christmas said, “Tariffs, funding cuts, consumer spending, and overall economic pessimism are putting intense pressure on companies’ workforces. Companies are spending less, slowing hiring, and sending layoff notices.” Retail store closures are trending upward Store closings being among the top reasons cited for U.S. retail layoffs is unsurprising. Fast Company has written extensively about retail store closings throughout the U.S., from companies like Kohl’s, Macy’s, and JCPenney. While some retailers have chosen to shutter the doors of some locations, others have filed for bankruptcy protection and announced company-wide store closures. In January 2025, Joann Fabrics filed for bankruptcy for a second time. The fabric and crafts store previously filed for bankruptcy protection in March 2024. Similarly, Rite Aid publicized its decision to file for Chapter 11 bankruptcy on May 5. The retail pharmacy first filed for bankruptcy in October 2023. Hiring efforts are up slightly, yet remain sluggish As for hiring efforts, U.S. companies have announced 79,741 planned hires through May of this year, an increase of 57% from the same period last year. However, planned hiring announcements remain historically low compared to pre-pandemic and early-pandemic years.
Category:
E-Commerce
Just over six months ago, Fast Company asked: How long will Elon Musk and Donald Trumps lovefest last? Well, we have our answer. This week, tensions escalated between the two over Trumps proposed One Big Beautiful Bill aimed at cutting taxes, which Musk derided as a disgusting abomination. Their disagreement deepened over electric vehicle mandates, which Musk strongly supports. During a White House photo op, the president expressed that he was very disappointed with Musks response, threatened to cancel federal contracts held by Musks companies, and claimed he had asked Musk to leave his administrationa claim Musk denies. Musk has been no less turbulent in handling the breakup. First he mocked Trumps tax bill as a disgusting abomination. Then he claimed: Without me, Trump would have lost the election, accusing the president of showing such ingratitude after Musk allegedly bankrolled large parts of his presidential campaigncontributing a reported quarter of a billion dollars. And, of course, there’s Musk’s 130-day stint as head of the Department of Government Efficiency (DOGE), a position he left in recent weeks. Musk then took a more personal turn, alleging without evidence that the president is named in the controversial “Epstein Files”documents related to convicted pedophile Jeffrey Epsteinand suggesting that Trumps inclusion is the reason the records have not been released. Mark this post for the future. The truth will come out, he added. Trump, for his part, was taking no prisoners on social media. The easiest way to save money in our Budget, Billions and Billions of Dollars, is to terminate Elons Governmental Subsidies and Contracts. I was always surprised that Biden didnt do it! the president posted on Truth Social. In response, Musk announced that SpaceX would begin decommissioning its Dragon spacecrafton which NASA is heavily reliantimmediately. This allin case youre wonderingoccurred over the course of a few hours. Short seller Jim Chaos has reportedly called it the most predictable breakup ever. Wedbush Securities principal analyst Dan Ives said the rift was jaw-dropping and a shock to the market, and putting major fear for Tesla investors on what is ahead. Neither Musk nor the White House responded to Fast Companys requests for comment. But after such a dramatic fallout, both men may be questioning whether their short-lived bromance was worth it. The real question now is: Who will emerge the least battered and bruised? Trumps connection with Musk has hurt his image among many who believe hes become a puppet of the South African entrepreneur. Musks comment that Trump was not grateful for his support only reinforces that perception. Trump is also left with the challenge of what to do about DOGE, says Merici Vinton, a former U.S. Digital Service official. The driving force behind DOGE was power to Musk and his friends, not the people, she says. With Elon and Trumps breakup, every DOGE teammate remaining inside of government is loyal to Musk, and DOGE is now a national security threat. As for Musk, his electric vehicle company Tesla is grappling with a sharp decline in global sales as consumers grow disillusioned with his combative approach to government. The companys stock has fallen 15% in a single day amid Musks public feud with Trump on social mediaand continues to drop. More than $150 billion has been wiped from Teslas market value due to the spat. The tax bill Musk so strongly opposes, if passed, could saddle his companies with billions in additional costs. And with every incendiary tweet, the likelihood of his companies federal contracts being canceled only increases. I don’t think anything Musk has done in the last year has been worth it for him, says Steven Buckley, who researches U.S. politics and social media at City St. Georges, University of London. In less than a year Musk has pissed off all Democrats, wasted millions of dollars on various state elections, trashed what positive branding Tesla had, and now has seemingly generated a large rift within the Republican caucus. Buckley notes that the only silver lining for Musk in his association with Trumpthe potential for favorable government contractsnow appears to be in serious jeopardy, with Trump himself threatening to revoke them. In the long term, Musks reputation may have taken a lasting hit. No sane Democrat will want to work with or give contracts to Musk’s businesses in the future, Buckley says. And it seems there will now be many Republicans thinking the same as well.
Category:
E-Commerce
Our sky-mall future is officially here: Walmart and drone company Wing are rolling out drone delivery to a number of additional metro areas in what the companies are calling the worlds largest drone delivery expansion” ever. The service will be available for Walmart customers in Atlanta; Charlotte, North Carolina; Houston; Orlando, Florida; and Tampa, Florida, by midyear 2026, the companies said Thursday. The announcement means that more than 100 Walmart stores in those cities will be folded into its Wing delivery partnership, including the 18 Supercenters in the Dallas area, where the two companies have already sent customer orders flying. Drone delivery is already real for millions of people in places like Dallas-Fort Worth, Wing CEO Adam Woodworth tells Fast Company. “We’re excited to make it real for more people than ever before. [Image: Walmart] Identified flying objects Business-to-consumer drone delivery still felt like a far-off proposition not that long ago, but the market is poised to explode. A recent report from PwC estimated that $251 million worth of goods were delivered globally to consumers by drone last year, a number that could reach $65.2 billion by 2034. Walmart, however, does not have the U.S. skies all to itself. Amazon, whose founder, Jeff Bezos, famously introduced the idea of drone delivery to American viewers on a 2013 episode of 60 Minutes, has set a goal of delivering 500 million packages a year via drone by the end of the 2020s. Walmart first launched drone delivery with Wing in fall 2023, and it works in a fairly simple way: Customers place an order with Walmart (or through Wings marketplace, or a third-party service such as DoorDash), and select drone delivery, while specifying an exact delivery location. [Photo: Walmart] The drone is loaded up with a customers order, takes off, and travels up to 65 mph to the location. In all, customers can receive their orders much faster than through other delivery methods, as the drones can cut across the sky, avoiding traffic and other obstacles. We find drone delivery takes off in more densely populated areas where people rely on personal cars, says Woodworth, such as sprawling cities like Dallas. Georgia, North Carolina, and Florida offer some of the same advantages Wing and Walmart have seen in Texas, with a real appetite from customers and government partners ready and excited to work with us and bring drone delivery to their communities. Walmarts leadership is likewise excited about the expansion. As we look ahead, drone delivery will remain a key part of our commitment to redefining retail,” said Greg Cathey, Walmart’s senior vice president of U.S. transformation and innovation, in a statement. “Were pushing the boundaries of convenience to better serve our customers, making shopping faster and easier than ever before.”
Category:
E-Commerce
Basketball fans are keeping their eye on the ball, and soon the screen, as Game 1 of the NBA Finals begins tonight. The Oklahoma City Thunder are set to face off with the Indiana Pacers on Thursday, June 5, with an 8:30 p.m. ET tip-off at the Paycom Center in Oklahoma City. The game will see Indiana’s Tyrese Haliburton square off against Oklahoma City’s Shai Gilgeous-Alexander in the battle for the championship trophy. Lets recap some team history and developments before we dive into how to watch the big game live. Pacers vs. Thunder: How did we get here? The Oklahoma City Thunder return to the NBA Finals for the first time since 2012, after defeating the Minnesota Timberwolves in the playoffs, 124-94, in Game 5. Shai Gilgeous-Alexander took home the NBA’s most valuable player award after he led the regular season in scoring with 32.7 points per game and 6.4 assists per game. (Oklahoma City lost Game 3 of the West Finals to Minnesota, 143-101, making the Thunder just one of three teams in the history of the NBA to lose a game in a series by 40 or more points, and then go on to win the series.) Meanwhile, the fourth-seeded Indiana Pacers arrive at the finals after outpacing the New York Knicks in six games. “We understand the magnitude of the opponent,” Indiana Pacers coach Rick Carlisle told CBS Sports. “Oklahoma City has been dominant all year long.” What is the full schedule for the NBA Finals? Here’s the series breakdown: Game 1: Thursday, June 5, at 8:30 p.m. ET in Oklahoma City Game 2: Sunday, June 8, at 8 p.m. ET in Oklahoma City Game 3: Wednesday, June 11, at 8:30 p.m. ET in Indianapolis Game 4: Friday, June 13, at 8:30 p.m. ET in Indianapolis Game 5 (if necessary): Monday, June 16, at 8:30 p.m. ET in Oklahoma City Game 6 (if necessary): Thursday, June 19, at 8:30 p.m. ET in Indianapolis Game 7 (if necessary): Sunday, June 22, at 8 p.m. ET in Oklahoma City Up-to-date game day information is available on the NBA’s website. How can I watch or livestream the NBA Finals? In the United States, the NBA Finals will air live on ABC. ABC is available for traditional cable viewers and free with an over-the-air antenna. Cable subscribers can also watch ABC live through the ABC website. Cord-cutters also have the option to stream on Fubo, which carries ABC, using the app or website. The 2025 NBA Finals can also be accessed on ESPN Radio, ESPN Deportes, and the ESPN app.
Category:
E-Commerce
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