Saturday, September 5th, 2026
Business
The Pentagon has signed seven-year framework agreements to triple Patriot interceptor output and quadruple THAAD. The dollar figure is not the interesting clause. The guaranteed minimum annual quantity is.
Porsche's operating margin went from 14.5 percent to 0.3 in a year. Volkswagen Group deliveries in China fell 37 percent in a quarter, in a market down 20 percent overall. Some investors have concluded the group is not fixable, and the interesting question is what fixing it would require.
Jaguar Land Rover is expected to confirm 4,000 job cuts on Monday. Pre-tax profit in the last financial year came in at £14m against £2.5bn the year before, on revenue down close to 21 percent to £22.9bn. A fifth off the top line took ninety-nine percent of the profit.
USCIS says its Vermont office revoked and denied H-1B petitions at an IT consulting firm where the wage classifications did not match the work. The agency named no company and alleged no fraud. What makes it more than a compliance notice is what the wage level now does.
GE Appliances is putting a billion dollars into Appliance Park in Louisville, moving dryer production from Mexico and, in an earlier tranche, washer production from China. The company says the investment secures 4,700 manufacturing jobs. The announcement was made jointly with the union.
Four years after a single plant closure emptied American shelves, formula capacity is being added. The largest project by far is Mead Johnson putting several hundred million dollars and 600,000 square feet into the plant it already owns in Zeeland, Michigan. Two much smaller lines are going into Ohio.
America's solar manufacturing pipeline now holds 55.9GW of announced and in-build cell capacity and 41.4GW of modules. Wafers — the step that sits between polysilicon and cells, and without which neither is any use domestically — total 13.3GW across every stage of the pipeline combined.
The US Army's acquisition chief spent a day in August on a howitzer production line in Changwon. The more consequential arrangement is in Arkansas, where a Korean firm has a preliminary lease at a US arsenal to build a $1.3bn plant making nitrocellulose and nitroguanidine — the chemistry every artillery shell is built on, and the part America stopped making.
Eaton is putting $242m and 1,200 jobs into a million square feet in North Little Rock to make customised electrical enclosures, and says the plant will double its US capacity for them. A company does not double capacity for a product that is comfortably supplied.
A ship out of service is capital earning nothing, and the number of places large enough to lift one out of the water has barely changed in decades. The queue, not the repair, is what costs the money.
Large buyers are paying later without renegotiating terms, financing themselves on the balance sheets of companies too small to object.
In-housing legal work saves real money on routine matters and converts a variable cost into a fixed one, which is fine until the volume that justified the hire goes away.
Procurement can name every direct supplier and almost none of their suppliers. The shortages that halt production keep arriving from that second layer, where nobody was looking.
