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Corporate management

Why salaries in the United States don’t keep up with inflation

Inflation in the United States hit a record high in June 2022. Consumer prices soared by 9.1% compared with a year prior — the largest annual increase since 1981. While wages are rising, they're not keeping up with inflation. Wage growth has been consistent with an inflation rate of about 4.5%. Meanwhile, as of November, inflation was at 7.1%.Americans are feeling the brunt at the grocery store and gas station and with rent payments, too. Two-thirds of workers said their pay isn't keeping up with these higher prices. So…

States spend billions on EVs to replace automotive capital Michigan

For as long as there has been an auto industry, Michigan has been its epicenter. But now, the industry is making clear that it is not bound by tradition.The move to electric vehicles — rapidly accelerating as the price of fossil fuels rises and battery technology improves — is easily the biggest shakeup in the industry since mass production began in Michigan at the start of the 20th century. And it has left Michigan's status as the nation's automotive capital deeply in jeopardy.Startups including Amazon-backed Rivian and…

Intel delay on $20 billion chip plant about ‘leverage’

Ohio Gov. Mike DeWine still has high hopes for Intel, even after the company announced that its plan for a massive semiconductor plant east of Columbus could see its scope scaled back or construction delayed."I truly believe that this is the Midwest's time. I believe it's Ohio's time," DeWine, a Republican, said in an interview.Intel said it was canceling a July 22 groundbreaking ceremony at the site while the company waits for Congress to pass the CHIPS Act, which includes $52 billion in assistance to the U.S.…