Transportation Secretary Reviews DOT $94.7 Billion Budget U.S. Transportation Secretary Anthony Foxx recently announced President Barack Obama’s $94.7 billion Fiscal Year 2016 budget for the U.S. Department of Transportation (DOT). Speaking at a town hall at Google headquarters in Mountain View, Calif., Foxx reviewed the president’s budget proposal while announcing his report Beyond Traffic, a look at future trends and choices that will impact America’s transportation system over the next three decades. “Our budget proposal lays the foundation for a future where our transportation infrastructure meets the demands of a growing population and an economy that depends on the free flow of freight,” said Foxx. “This administration is looking towards the horizon — the future — but to do this we need Congress’ partnership to pass a long-term reauthorization to put Americans to work rebuilding America.” The president’s Fiscal Year 2016 budget creates additional certainty with a six-year, $478 billion surface transportation reauthorization proposal that would improve America’s highways, ports, and transit networks. It would better ensure these systems are safe, and support developing a highperformance rail system. The proposed budget would also be paid for in part with $238 billion from transition revenues generated from pro-growth business tax reform. For additional details, visit www.dot.gov. World Crude Steel Output Increases According to the World Steel Association (worldsteel), Brussels, Belgium, world crude steel production reached 1662 million tons (mt) for the year 2014, up 1.2% from 2013. In 2014, the Middle East — the smallest region for crude steel production — had the most robust growth. Crude steel production in the European Union, North America, and Asia grew modestly in 2014 vs. 2013, while in the Commonwealth of Independent States and South America, it decreased. Annual production for Asia was 1132.3 mt of crude steel in 2014, up 1.4% from 2013. China’s crude steel production in 2014 reached 822.7 mt, an increase of 0.9% from 2013. China’s share of world crude steel production decreased from 49.7% in 2013 to 49.5% in 2014. South Korea’s crude steel production was 71.0 mt, an increase of 7.5% from 2013. The European Union recorded an increase of 1.7% vs. 2013, producing 169.2 mt of crude steel in 2014. Additionally, in 2014 crude steel production in North America was 121.2 mt, an increase of 2.0% on 2013. The United States produced 88.3 mt of crude steel, up 1.7% from 2013. Last December, world crude steel production for the 65 countries reporting to worldsteel was 133.7 mt, 0.1% more than produced in December 2013. Visit www.worldsteel.org for more information. GM Reports Fourth Quarter 2014 Net Income General Motors Co., Detroit, Mich., recently announced fourth quarter net income that’s attributable to common stockholders of $1.1 billion or $0.66 per diluted share. Included in special items was an $(0.8) billion reduction to net income attributable to common stockholders related to the redemption of all outstanding Series A preferred shares. In the fourth quarter of 2013, GM’s net income attributable to common stockholders was $0.9 billion, or $0.57 per diluted share, including a net loss from special items of $0.2 billion or $(0.10) per diluted share. Revenue in the fourth quarter of 2014 was $39.6 billion, compared with $40.5 billion in the fourth quarter of 2013. Also, earnings before interest and tax adjusted was $2.4 billion in the fourth quarter of 2014 vs. $1.9 billion in the fourth quarter of 2013. “A strong fourth quarter helped us deliver very good core operating results in 2014 despite significant challenges we and the industry faced,” said GM CEO Mary Barra. Partnership to Address Manufacturing Skills Gap in Louisville A new industry-education partnership between the Greater Louisville chapter of the Kentucky Federation for Advanced Manufacturing Education and Jefferson Community and Technical College has been established to help bridge the industrial skills gap. Classroom along with work experiences will be combined to create a pipeline of employees for the region’s advanced manufacturing industry. Introduced by GE Appliances President and CEO Chip Blankenship at the college, it was initiated by area manufacturers. Together, the chapter and Jefferson Community and Technical College will implement the Advanced Manufacturing Technician Program, a work-study education plan founded by Toyota Motor Manufacturing Kentucky. Students who participate will work toward an Associate in Applied Science degree in advanced manufacturing technology. They will attend class and participate in lab work for two days a week, plus work for a sponsor company at a competitive wage the other three days. At the end of the five-semester program, students will emerge with an associate degree; 68 to 71 college credit hours; about 1800 h of on-the-job training and work experience; little, if any, education debt; and the opportunity for full-time employment with a sponsor company. Visit www.kyfame.com or www.jefferson.kctcs.edu to learn more. BUSINESS BRIEFS 22 WELDING JOURNAL / APRIL 2015 WJ These pie charts by worldsteel reflect the share of world crude steel production for 2014 and 2013 (EU = European Union, RoW = Rest of World).
Welding Journal | April 2015
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