“Apple CEO Tim Cook said that his company will start a $1 billion fund to promote advanced manufacturing jobs in the United States,” Elizabeth Gurdus reports for CNBC. “‘We’re announcing it today. So you’re the first person I’m telling,’ Cook told ‘Mad Money’ host Jim Cramer on Wednesday. ‘Well, not the first person because we’ve talked to a company that we’re going to invest in already,’ he said, adding that Apple will announce the first investment later in May.”
“The fund comes as President Donald Trump has made bringing back manufacturing jobs a big part of his agenda, and it fits into Apple’s larger effort to create jobs across its spectrum, from its own employees to app developers to its suppliers,” Gurdus reports. “‘By doing that, we can be the ripple in the pond. Because if we can create many manufacturing jobs around, those manufacturing jobs create more jobs around them because you have a service industry that builds up around them,’ the CEO said.”
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Read more in the full article here.
“While it did not announce a new manufacturing facility with thousands of manufacturing jobs, Apple, the world’s most valuable public company, said it planned to dedicate resources to American job creation with a $1 billion fund to invest in advanced manufacturing in the United States,” Benner and Schwartz report. “In introducing the fund, Apple joined a growing list of companies that have said in recent months that they will add, promote or keep jobs — many of them related to manufacturing — in the United States.”
“Some critics have suggested the Trump administration is too focused on manufacturing, as opposed to more quickly cultivating service occupations — in the leisure and hospitality or health care industries, for instance,” Benner and Schwartz report. “But for the roughly two-thirds of Americans who lack a four-year college degree, manufacturing remains one of the few sectors that can deliver a middle-class income. According to the Bureau of Labor Statistics, the typical factory worker earns more than $26 an hour, compared with $14 an hour for the average hotel and food services employee.”
“Apple’s focus with its new fund is on a slice of the industry known as advanced manufacturing,” Benner and Schwartz report. “That is a catchall term, but typically it involves the production of high-value-added products in sectors like technology, aerospace, automobiles, sustainable energy and medical equipment.”
Read more in the full article here.
MacDailyNews Take: Good for Apple and for Apple’s home country.
SEE ALSO:
Apple’s top manufacturing partner to meet with U.S. President Trump today – April 27, 2017
Apple could help Westinghouse in completing new nuclear plants – April 17, 2017
Apple supplier Sharp may begin building $7 billion U.S. plant in within months as Japan PM meets President Trump – February 8, 2017
Foxconn-Sharp considering LCD plant in USA, plans in response to President-elect Trump’s ‘Make in America’ call – January 13, 2017
With President Trump soon to take office, Apple looks to boost its ‘Made in America’ credentials – January 10, 2017
Make America Insanely Great Again: Apple seeks to expand Made in USA manufacturing – January 9, 2017
Apple invests $1 billion in SoftBank’s massive tech fund; may help company get in President Trump’s good graces – January 4, 2017
Softbank to invest $50 billion in the U.S., create 50,000 new tech jobs after meeting with President-elect Trump – and Apple supplier Foxconn is in on the deal – December 6, 2016
President-elect Trump invites tech leaders to roundtable in Manhattan next week – December 6, 2016
President-elect Trump tells Apple CEO Tim Cook that he’d like to see Apple make products in the U.S. – November 23, 2016
President-elect Trump says Apple CEO Tim Cook called him after election victory – November 22, 2016
Apple could make iPhones in the U.S.A. under President Trump, sources say – November 17, 2016
It’s so nice to have a U.S. President who understands how to get a stagnant economy working again.
It’s been a long time since January 20, 1989.
Gotta hand it to you. When you’re right, you’re right.
Creating jobs and work is something Trump is great at.
But he really, really sucks at paying for them. He should change his name to Sosueme.
That’s all you’ve got?
Do you really need more? Sadly, there’s so much more.
Yup, that’s all you’ve got — NOTHING.
Well, seeing two diametrically opposed and powerful men come to this sort of agreement is promising.
The fact is that we already lost the blue collar jobs and they’re not coming back. The next wave will be robots doing the min wage jobs, and then those people are out of luck unless someone comes up with something to allow those who lack education and resources living-wage work.
I have no idea how or what, but that’s why these guys/gals make the big bucks…
Just what exactly is this “advanced manufacturing” jobs? Automation
Apple, why not just bring back all those Apple jobs in China that are slowly being replaced by robots. Oh, I see…., it’s OK when a Chinese worker kills himself after working 12-15 hour days 6 days a week but not so much for a white American.
Perfectly okay, your Reprehensible Disingenuous Specious & Smarmy Assholiness. You’re the worst kind of smear meister.
“The suicide rate at Foxconn during 2010 (he worst period) remained lower than that of the general Chinese population at the time, as well as all 50 states of the United States.”
But it sure makes for a great anti-Apple headline! After 2010 they diminished greatly and there haven’t been further suicides since 2013 outside of one 2016 incident. Apple did more than most to improve the situation in China. At the end of the day this is more about how Chinese companies treated their employees.
Christian, no doubt
I’ve been an owner of Apple products since the Mac SE with dual floppy drives. I own Macs form every product family except the “performas”. I’m not an investor punk who cares not how Apple makes their massive profits as long as it adds to your portfolio.
Perfect fail…a waffling response to verifyable data and a well chosen description of a clown.
Worker abuse is the US happens every day and companies get away with it. Imagine a quagmire that is China for human rights let alone worker rights.
https://www.theguardian.com/technology/2012/mar/30/apple-factories-china-foxconn-audit
http://www.businessinsider.com/qa-with-an-iphone-factory-worker-at-pegatron-changshuo-in-shanghai-2017-4
Advanced manufacturing = Robots
None of this can be credited to that Orange Bozo.
Obama’s sex secrets laid bare: How he considered a gay fling, had passionate sex and COCAINE with one white girl, proposed twice to another – and CHEATED on Michelle before they married
Cook reveals that Obama was still a cocaine user when they were together.
He would spend time with other friends – Hasan Chandoo, Imad Hussain and Sohale Siddiqi, who he had been friends with at Occidental College, in Los Angeles – and Cook said the trio was taking ‘lots of cocaine’.
That Obama was still using cocaine in his early 20s is a significant revelation.
He had previously only disclosed that he used it as a teenage student.
Change the name to Dubya Bush and add significant quantities of alcohol and the story would be closer to truth.
Luddites will never rule the world. Change, no matter how much it may benefit society in general, often negatively impacts a minority of people. Still, I understand the fear and anger of people who lose their jobs to automation.
You call half of the U.S. a minority?
According to the Bureau of Labor Statistics, the typical factory worker earns more than $26 an hour
Compare that to what the typical factory worker earns per hour in China. Thus the pressure to kick factory jobs overseas. *sigh*
Non of this has anything to do with Trump. Just like Ford and Verizon bring back jobs to the US as well as Verizon investing in the communication infrastructure. These things were planned years ago.
Nppe, anything positive never has anything to do with Trump, but everything negative was always Bush’s fault.
If you think this would have happened under globalist Clinton, you’re even stupider than you sound so far.
Thank you
Bullshi- you’re a fool
“Non of this has anything to do with Trump.”
You’re absolutely correct. It has everything to do with Obama, Clinton when you are done blaming Bush, another NOTHING Republican President.
Trump is the same in your fantasy world. Got it …
If Trump doesn’t fire that goddamned piece of shït Comey, his administration will go down in flames and deservedly so.
You can bet on that!
The headline should read, “Timbo Cook finds spare change in sofa, orders pizza to employ more people in USA. Trump takes credit.”
When a company spends more on stock buybacks than on manufacturing, you know where its priorities lie.
Hopefully, in a show of future bipartisanship — Trump and Tim can come together, work TOGETHER and help the American workforce …