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Tagged: north america

Global veteran CMO Betsey Chung is chair judge for Campaign Global Agency of the Year Awards 2023

By Jennifer Small

 For the fourth iteration of Campaign’s Global Agency of the Year Awards, the leader of the judges will be Betsey Chung, a global veteran chief marketing officer, who has held a range of senior marketing and finance roles with global brands including TD Bank Group, BMO, Aviva, and American Express.

What differentiates Campaign’s Global Agency of the Year, says Chung, is that the awards “span the art and science of marketing,” and recognise large and small, from global networks to individual shops across so many key categories – including individual, team and even client awards.

This is a key reason, says Chung, why she has opted to go from being a judge for last year’s awards to chair judge for the 2023 awards. Having qualified as a chartered accountant, Chung began her career as an auditor and tax advisor at KPMG, before moving on to becoming an executive strategy consultant and develop marketing and e-commerce strategies for KPMG clients in the UK and Europe, including Credit Suisse, British Telecom Wireless and Norwich Union.

“I’ve always operated in the intersection between marketing, digital and finance; and what I’ve learned is that during volatile times, storytelling is more important than ever. Storytelling is a source of inspiration, and purpose-driven work that can move people is something that many of us in the marketing industry strive for,” says Chung.

It makes sound commercial sense for agencies to enter, explains Chung, because clients pay attention to agencies who submit, while the judging panel is made up of CMOs from top brands worldwide.

Chung believes that “Campaign’s reputable, objective voice in the industry, which brings accreditation and recognition from a credible third party, is valuable for agencies and networks, especially during unpredictable economic times, where clients and agencies alike are looking

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World’s largest privately-held equipment manufacturer expands in Texas | Texas

(The Center Square) – Another company is expanding manufacturing operations in Texas, this time JCB, Inc., in San Antonio, which expects to create hundreds of new jobs.

The company is the latest to relocate or expand operations in Texas and as the state continues to lead the U.S. in job growth and economic expansion.

JCB is constructing a new facility in San Antonio to produce telescopic handlers and aerial work platforms. The company is expected to make $265 million in capital investment and fund over 1,500 new jobs through 2028. It received a Texas Enterprise Fund grant of $5,684,350 and a Veteran Created Job Bonus of $42,000 for the project.

“Texas remains the best place in America for businesses to call home,” Gov. Greg Abbott said. “Companies from across the nation and around the world continue to relocate to Texas and expand here because we offer an unmatched economic climate with business-friendly policies that empower them to succeed. We are proud to welcome JCB to San Antonio and look forward to the hundreds of good-paying jobs and millions in investment this new facility will bring to hardworking Texans in Bexar County.”

“The growth we’ve experienced in the past few years in North America has been extensive and demand for our products continues to grow,” JCB North America President and CEO Richard Fox-Marrs said. “The decision to expand our manufacturing footprint will bring us even closer to our customers and will allow us to further capitalize on market opportunities in North America.”

San Antonio Mayor Ron Nirenberg noted that JCB is the world’s largest, privately-owned construction, agricultural, and industrial equipment manufacturer—and it’s choosing to expand its operations in San Antonio. “Committed to reinvigorating American-made products, JCB is strengthening and expanding its North American manufacturing network with its new facility,” he said,

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PC Website Builders Market Size, Exploring Projected Outlook and Growth for 2023-2030

Our report on the Global PC Website Builders market provides comprehensive insights into the potential opportunities and challenges this market segment has to offer. The report provides an extensive analysis of the current market, taking into consideration the key market players and their strategies, competitive landscape, historical market trends, and market size. It also offers an in-depth examination of the growth drivers and the challenges of the PC website builders market.

The report also serves as the perfect tool to assess the current scenario and forecast the future potential of the Growth of the Global PC Website Builders market. It also provides a comprehensive analysis of the industry, including a detailed overview of the various segments within the market and the macro-economic trends that have an impact on the industry. It comprehensively covers the competitive landscape and offers an analysis of the different strategies adopted by different PC website builders players. Additionally, it also provides a thorough outlook about the future opportunities and challenges in the market, helping players in making informed decisions.

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PC Website Builders Market report also includes a pricing analysis for each type, manufacturer, region, and global price from 2018 to 2030. This information will help stakeholders make informed decisions and develop effective strategies for growth. The report’s analysis of the restraints in the market is crucial for strategic planning as it helps stakeholders understand the challenges that could hinder growth. This information will enable stakeholders to devise effective strategies to overcome these challenges and capitalize on the opportunities presented by the growing market. Furthermore, the report incorporates the opinions of market experts to provide valuable insights into the market’s dynamics. This information will help stakeholders gain a better

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Middle-Market Manufacturers Confront Inflation, Supply Chain and Talent Risk

As manufacturing returns to North America, confidence in the performance of the sector, particularly among middle market manufacturers, is strong—even in the face of a possible recession.

The middle market is key to understanding broader business resilience, as 200,000 U.S. middle market businesses represent one-third of private sector GDP, employing approximately 48 million people.

Although increased production in the U.S. by major semiconductor and automobile manufacturers, like Intel and Ford, make headlines, overall manufacturing capacity and demand hit recent highs, according to Deloitte’s 2023 manufacturing outlook. The Big Four audit & advisory firm projected a 2.5% GDP growth in U.S. manufacturing in 2023.

The optimism is affirmed in the Chubb and the National Center for the Middle Market (NCMM) report, a survey in which more than three-quarters (76%) of middle-market manufacturers project overall performance improvements this year.

The good news is tempered by a range of obstinate risks. Finding the right skill set is considered a challenge by nearly half (49%) of the respondents to the Chubb/NCMM survey. To counter the potential decreases in productivity and sales, 46% of employees are working longer shifts, the survey found.

Other risks as U.S. manufacturers onshore facilities include the impact of unpredictable natural disaster exposures and inflation on the costs of rebuilding damaged or destroyed buildings and other assets. Seventy percent of manufacturers in the Chubb/NCMM survey said the replacement costs of covered assets has changed due to inflation.

Ongoing supply chain issues are another concern, with 41% of respondents reporting a supply chain disruption in the second half of 2022.

As middle market manufacturers choose the optimal geographic location for new plants domestically, they need to balance traditional factors like logistics, available raw materials, proximity to customers and government policies against the risks of climate-related natural disasters, supply chain

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Michelin leads Bridgestone as largest tire maker, Goodyear grows at No. 3

As Michelin looks to strengthen its portfolio around and beyond tires, Bridgestone is working on narrowing its focus just a bit.

Since 2019, the percentage of Bridgestone’s corporate sales attributed to tires is estimated to have grown. In 2019, it was estimated that 75 percent of sales was from the company’s tire business. And while that estimate dropped by just one point in 2020, it grew to 80 percent in 2021 and then 85 percent in 2022—during which Bridgestone reported sales of $26.6 billion.

The Tokyo-based tire maker made at least 16 significant moves in 2021, setting the stage for a big year in 2022.

That same year—2022—Bridgestone made some major announcements and completed some moves. And all of them are aimed at a single vision: bringing more tires to the market, and do so more sustainably. Including in North America.

Perhaps the most prominent example of Bridgestone North America Inc.’s efforts is the $550 million investment in its Warren County, Tenn., truck/bus tire facility. The company this month broke ground on the project, which is expected to be substantially completed by 2026. The funding not only will increase output, it will help ensure that the products coming out of the plant are more sustainable and new mobility-ready.

Bridgestone last year opened its new $21 million, 80,000-sq.-ft. race tire manufacturing plant in Akron, expanding capabilities and ensuring efficient operations.

And when it comes to sustainability, retreading is key for the tire maker. So Bridgestone is focusing capital expenditures on growing its expertise in this area, particularly at its tread rubber facility in Abilene, Texas. The tire maker broke ground on a $60 million expansion there in May.

Bridgestone’s also investing in sustainable materials, including guayule. Last year, the company said it would put another $42 million into growing its

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Small EV maker becomes more valuable than Ford, GM combined

An unprofitable electric vehicle maker has suddenly become the third most valuable auto manufacturer in the world, leaving the likes of General Motors and Ford in its dust.

Shares of Vietnam’s VinFast Auto have soared almost 700% since it listed in mid-August – even though it hasn’t made many cars yet, let alone turned a profit.

Here’s how VinFast suddenly became one of the world’s most valuable carmakers – and how it could come undone again.

The VF8 is the <a href=company’s first electric vehicle to be released in North America.” style=”width:100%;display:inline-block”/

Supplied

The VF8 is the company’s first electric vehicle to be released in North America.

What happened?

On Aug. 15, unprofitable Vietnamese EV-maker VinFast, owned by the country’s richest man, made its debut on the Nasdaq Global Select Market index. It is now worth just under US$200 billion, more than GM and Ford combined and trailing only Tesla and Toyota among carmakers.

What caused the share price surge?

The biggest reason: scarcity. Just 1% of VinFast’s shares are available for trading. That means if a buyer snaps up a large enough chunk of those few shares, it can have an outsize effect on the stock’s overall price. It also has landed on the radar of retail traders, a cohort enamored of EV makers.

Who owns the other 99%

Regulatory filings show Pham Nhat Vuong, Vietnam’s richest man, controls 99% of the company’s outstanding shares, partly via shares held by his wife and the conglomerate Vingroup JSC.

The larger VF9 is VinFast’s next nameplate off the rank.

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The larger VF9 is VinFast’s next nameplate off the rank.

Is VinFast profitable?

No – and that’s not that surprising for such a young company, particularly considering making cars is an extraordinarily capital-intensive business. According to a June regulatory filing, VinFast lost US$598.3 million in the three months through March 31, while it generated

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Our Next Energy makes LFP battery range competitive with NMC

ONE will begin producing batteries for commercial vehicles and battery storage late next year at its plant in Van Buren Township. It plans to launch the Aries II for passenger vehicles in 2025, followed by the 600-mile-range Gemini in 2026. The company expects its batteries to comply with the Inflation Reduction Act, making the buyers of vehicles that use them eligible for significant federal income tax credits.

Our Next Energy will likely build the Aries II at a second plant. Ijaz said he expects to share details on that plant this year. The company is in discussions with suppliers to co-locate on new sites to localize the battery supply chain, he said.

Iron and manganese were obvious battery material choices for the company when it was founded in 2020 because they can be mined and processed in North America, Ijaz said.

The industry “is about to birth an entire supply chain in North America. To me, it would be ideal to birth the supply chain with the right materials,” he said.

ONE and BMW partnered last year on the long-range Gemini battery to power the BMW iX. The company is in discussions with other automakers for the Aries II, Ijaz said.

Ijaz’s pitch to automakers centers on eliminating nickel and cobalt, which are expensive. Batteries using those materials are more susceptible to fire than the iron phosphate chemistry.

“We could help automotive companies achieve the same range that they’re getting today, avoiding those two risks and at a lower price,” he said. “And then we can offer a way to double that range. As we go after 600 miles of range, we are uniquely differentiated in that offering right now.”

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Battery maker LG Energy Solution considering sites for North American HQ

Holland, Mich. — LG Energy Solution is positioning its growing operation in Holland to become the company’s North American headquarters as it scales up battery manufacturing across the country.

The designation could bring an influx of white-collar and senior-level positions, building on the hundreds of advanced manufacturing jobs LG Energy Solution Michigan is creating with its $1.7 billion lithium ion battery plant expansion in Holland. LG Energy Solution Michigan is a wholly owned subsidiary of Seoul, South Korea-based LG Energy Solution.

“We are seriously considering making this site the headquarters for North America,” Roger Traboulay, project manager at LG Energy Solution Michigan, said during a presentation to local developers Aug. 3 at the expansion site in Holland. “If that happens, it would bring in a whole band of directors and senior persons with [a need for] executive-level housing.”

Holland is among the eight plants across the U.S. and Canada that LG is aggressively investing to build capacity and supply chains for automakers that are launching electric vehicle lines, Automotive News reported this week. Once up and running, which is expected by mid-decade, the eight plants would have a combined 300 gigawatt-hours of electric vehicle battery production capacity.

Of those eight sites, Holland and an Arizona facility are the only two solely owned by the company, while the rest are joint ventures with major automakers. The projects represent nearly $27 billion in combined investment between LG Energy Solution and its automaker partners, which include General Motors, Stellantis, Honda and Hyundai.

“As LG Energy Solution continues to expand in North America, the Holland facility is on track to fulfill the role of a control center (i.e. a ‘Mother Factory’), providing operational support and employee education/training to other facilities in the region,” LG Energy Solution Communications Manager Val Gent said via email.

Gent

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Don’t Have TSA PreCheck? These Airports Let You Make Reservations For The Security Lines

If Memorial Day weekend is any sign of what’s ahead for the rest of the summer travel season, it’s bound to be a busy — perhaps even record-breaking — few months at airports across the country. More than 2.57 million travelers passed through security on the Monday of Memorial Day weekend, which surpasses pre-pandemic travel figures from the same holiday in 2019.

Busier airports, of course, tend to mean longer security wait times. But did you know that a growing number of airports are allowing general screening passengers to reserve spots in the security lines to help cut down on wait times and prevent bottlenecks during busy travel periods?

The reservation system is akin to theme park fast passes, except making a security screening appointment is completely free to travelers and doesn’t require any kind of membership programs. By comparison, TSA PreCheck is $78 for a five-year membership and Clear is $189 a year for the expedited biometric screening process, though the private company offers several discounts and your credit card benefits or airline loyalty program may unlock a free, or deeply discounted, membership for you.

Clear powers the Reserve system, which is now available at 19 airports across North America and Europe.

Denver International Airport, which is the third busiest airport in the world, is the latest airport to adopt the reservation system.

Those traveling out of the Mile High City can find all kinds of better ways to kill time they would have spent waiting in security lines, including playing yard games at the Park on the Plaza, which is located pre-security. Or, explore some conspiracy theories (the airport flaunts them on their construction signs,

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