1) The U.S. Supreme Court, in a unanimous 8-0 ruling in a civil procedure case, has made corporations suffer a huge loss by making it easier to sue over defective and dangerous products. The basic thrust of the controversies is actually fairly simple in the case of Ford Motor Co. v. Montana Eighth Judicial District Court. The state court held that it had jurisdiction over Ford Motor Company in a product liability suit stemming from a car accident, since the accident happened in the state where suit was brought, and the victim was one of the state’s residents. Furthermore Ford did substantial business in the state with advertising, selling, and servicing the model of vehicle the suit claims is defective. Ford contends that jurisdiction is improper because the particular car involved in the crash was not sold in the state where Ford was sued, nor was it designed or manufactured there. The Supreme Court has essentially staked out two methods for bringing lawsuits against huge corporations: 1) general jurisdiction, and 2) specific jurisdiction. When minimum contacts are found to be sufficiently related to the cause of action, a given court may exercise jurisdiction over such claims.
2) Taiwan and the U.S. plan to deepen maritime security ties in view of China’s escalating ‘gray-zone’ threats. The Chinese government has made vast maritime claims in the South China Sea and also claims sovereignty over the Japanese controlled Senkaku Islands, which it calls Diaoyu. Until Beijing enacted its new coast guard law last month, the country relied on its myriad of armed fishing militia to harass the vessels of other regional claimants. However, China’s neighbors have raised concerns about the revised maritime police legislation, which allows coast guard ships to fire upon foreign vessels deemed to be intruding in Chinese territorial waters. Manila and Tokyo, both who are U.S. defense treaty allies with the U.S., have expressed concern at the potential consequences of the law.
3) Google’s systems infrastructure group calls their new Systems on Chip (SoC) the motherboard on a chip. The cloud computing giant, who is always in need of more computing power for its servers, until now relies on the motherboard as an integration point, where CPUs, networking, storage devices, custom accelerators and memory all come together. To gain higher performance and to use less power, workloads demand even deeper integration into the underlying hardware. With the SoC, the latency and bandwidth between different components can be orders of magnitude better, with reduced power and cost compared to traditional motherboards.
4) Stock market closings for – 25 MAR 21:
Dow Jones 32,619 up by 199.42 NASDAQ 12,978 up by 15.79 S&P 500 3,910 up by 20.38
1) Ford Motor Company’s sales in China has declined for the third straight year, falling by 26.1%. The company has been trying to revive sales in China after the decline started in 2017 and plans to introduce thirty new models in the next three years, with a third being electric models. General Motors has also experienced a decline in sales of 15% this last year.
2) One of the largest suppliers of parts to Boeing’s 737 MAX, Spirit AeroSystems, is laying off 2,800 workers. Based in Wichita Kansas, will eliminate 20% of its workforce. Smaller layoffs will happen at its facilities in Tulsa and McAlester, with half its annual sales from parts for the 737 MAX. Since last February, Spirit’s stock has fell from a high of $100 a share to $71.50 on news of the layoffs.
3) Expectations are that the U.S. will remove China from its list of currency manipulators two days before the signing of initial U.S. – China trade agreement. Part of the agreement is that both nations will not devalue its currency to gain a competitive advantages of exports. Labeling China a currency manipulator was viewed largely as a symbolic action.
4) Stock market closings for – 13 JAN 20: Stocks are up 495% in the past decade.
Dow 28,907.05 up 83.28 Nasdaq 9,273.93 up 95.07 S&P 500 3,288.13 up 22.78
1) The Ford Motor company will eliminate 20% of its European workforce in a sweeping move to overhaul the manufacture’s falling sales. This will entail reducing its manufacturing facilities from 24 down to 18, with England, Germany and Russia the hardest hit. About 12,000 regular, staff and workers at joint ventures will be effected. Predicted deliveries for automobiles is down, as a result of Britain’s uncertainty from Brexit, with Ford’s European sales dropping 8.3% in May.
2) The crypto-currency Bitcoin having moved up over the last eighteen months to $14,000, suddenly drop 16%, down to $11,000. Bitcoin’s all time high was $20,000 reached in December of 2017, and is noted for it’s wild deviations of price over the last few years. Facebook just announced they are coming out with their own crypto-currency which may be a factor in Bitcoin’s sudden drop.
3) The Federal Aviation Administration has announced more safety concerns with Boeing’s 737 MAX just as the aircraft is being evaluated for software fixes designed to correct computer flight control systems. This system was responsible for two recent crashes with the death of all passengers and crew. Boeing’s stock dropped 3% Thursday as a result of added concerns for its star product, which the FAA is now evaluating software fixes with the expectations of finally getting its airliners airborne again. Boeing is presently parking completed 737 MAX aircraft in its car parking lots waiting for approval so they can make deliveries.
4) Stock market closings for- 27 JUN 19:
Dow 26,526.58 down 10.24 Nasdaq 7,967.76 up 57.79 S&P 500 2,924.92 up 11.14