Archive for Business

Analyses of New Jersey’s Key Industries

The New Jersey Department of Labor and Workforce Development has identified eight industries or “clusters” that have great economic impact on the state. For each sector, the LWD has produced an analysis replete with useful data on both state and national levels. In addition, many useful tools and economic indicators can be found at this site. A great place to start examining the business side of the state.

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List of Additional K-Mart Stores Closing (Two in New Jersey) As Announced on August 24, 2017

The official list can be found here.

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Transportation, Logistics, and Distribution in New Jersey

The TLD (transportation, logistics, and distribution) sector is impacting the state’s economy in a meaningful way according to the New Jersey Bureau of Labor Market Information’s 2017 report – New Jersey’s Transportation, Logistics & Distribution Industry Cluster. Some findings from this document are:

“In 2015, transportation, logistics & distribution employed 370,260 workers in New Jersey. The cluster employed 11.2 percent of the state’s private sector workers. Nationally, TLD accounts for just 8.8 percent of private sector employment.

The annual average New Jersey private sector wage for TLD in 2015 was $73,325. Total wages for the TLD cluster accounted for 13.2 percent of private sector wages statewide.

TLD contributed more than $56.8 billion to the state’s Real Gross Domestic Product (GDP -chained 2009 dollars) in 2015, the fourth highest dollar amount per state nationwide. New Jersey accounted for more than four percent of the nation’s GDP generated from TLD.”(5)

So critical is TLD to New Jersey’s economy that the state’s Employment and Training Commission has identified this sector as one of six sectors key to the future economic and workplace development of this state. And New Jersey Career Connections has a separate page for TLD that includes the various credentialing agencies in this field.

Additional news on this subject can be found at:

NJ Strives to Stay Ahead in Transportation, Logistics, and Distribution (NJ Spotlight); What is ‘TLD,’ and why might it be some NJ kids’ best shot at success in life? (NJ 101.5.com); and NJ becoming the warehouse state, and that means more jobs (Asbury Park Press).

This choose.nj.com site offers compelling reasons why New Jersey is an TLD hub.

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Full Text of Study Highlighting Hostile Workplace Environments

My rule of thumb is that whenever you hear about reports, studies, papers, surveys, etc, always try to get your hands on the original copy. Why trust secondhand sources? The title is Working Conditions in the United States: Results of the 2015 American Working Conditions Survey published by the RAND Corporation. Some of the key findings:

  • The clear majority of Americans (eight out of ten) have steady and predictable work throughout the year, but many fewer work the same number of hours on a day-to-day basis (54 percent).
  • Nearly three-fourths of Americans report either intense or repetitive physical exertion on the job at least one-quarter of the time.
  • More than one-half of Americans report exposure to unpleasant and potentially hazardous working conditions.
  • Nearly one in five American workers are exposed to a hostile or threatening social environment at work.
  • Most Americans (two-thirds) frequently work at high speeds or under tight deadlines, and one in four perceives that they have too little time to do their job

 

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New Jersey’s Economic Future

This new report from McKinsey and Company – Reseeding the Garden State’s economic growth: A vision for New Jersey – discusses the main factors that should fuel the state’s growth and employment future: encouraging the growth of young companies (incubators); infrastructure; workforce profiles; and growth incentives. Highlighting programs from other states (Virginia and Maryland) as well as a German university model, along with informative “exhibits” (exhibits 8-11 present a great amount of New Jersey-centric information) comparing New Jersey to other states and the nation, this brief report makes it obvious that New Jersey’s future can be bright, given the abundance of developing sectors in the state. The paper concludes by stating: “It will take dedicated efforts by the private, social, and public sectors—and the involvement of us all—to make the Garden State a growth leader again.All stakeholders can take encouragement from the experience of other states that have faced all the same challenges and hurdles—and remember the unique strengths that can make New Jersey a growth leader.”(25)

 

 

 

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Financial Times’ List of Best MBA Programs in the World

Come here to find the list. You can sort by multiple criteria, and each institution has a brief profile along with a diversity report.

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Fortune’s 2017 Global 500

Listed by revenue, these companies are scattered throughout the world in various sectors(industries). Included are company profiles. graphs, financials, and featured articles. In addition there is a map section as well as a feature showing the shifts in rankings of individual companies over the past two decades.

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NJCU’s Accounting Program Ranked #5 in the State

According to the NJBIZ 2017 Book of Lists, NJCU’s accounting program moved up the rankings, from #7 last year to #5 this year.(35)

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Sears Filing Document Expressing Doubt About Its Future

And we quote: “Our historical operating results indicate substantial doubt exists related to the Company’s ability to continue as a going concern. We believe that the actions discussed above are probable of occurring and mitigating the substantial doubt raised by our historical operating results and satisfying our estimated liquidity needs 12 months from the issuance of the financial statements. However, we cannot predict, with certainty, the outcome of our actions to generate liquidity, including the availability of additional debt financing, or whether such actions would generate the expected liquidity as currently planned.”(48)  Here is the entire report as filed with the SEC.

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March 8, 2017 Announcement of the List of Radio Shack Stores Closing

Using the company’s “store locator” feature and clicking on the “store closing” box along with the “no limit” distance option will give you what stores are closing. Most seem to be in the Mid-West.

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A Look Inside SnapChat

For an in-depth look at SnapChat, a secretive company, read its IPO. Here are some interesting data: what risk factors might hinder its growth?(p 12); it had 158 million Daily Active Users at the end of December 2016(12);  age and title of its executive officers (125); that “Our team is kind, smart, and creative” (119); that “Snap Inc. is a camera company. We believe that reinventing the camera represents our greatest opportunity to improve the way that people live and communicate. Our products empower people to express themselves, live in the moment, learn about the world, and have fun together.” (60); who they think their audience is (66); and their top ten advertising markets (118). Much more can be gleaned from this document.

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New Closings of Kmart and Macy’s Stores in New Jersey

Kmart closings are here; Macy’s closings are listed here (scroll down through the press release).

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New York Area Companies’ Historical Annual Reports

Want to read annual reports from Abraham & Strauss from 1926 through 1942; how about late 19th century reports from the Edison Electric Illuminating Company? These and 33 other New York area companies are highlighted in this project from Columbia University –  Columbia Historical Annual Reports. More than 700 reports comprised of 18,000+ pages are made available. You can search by company name or by industrial sector. The 1890 report from Edison Electric provides all sorts of insights into life in New York City at the turn of the century: how many customers, the number of lamps installed, the geographical distribution of the company’s products, revenue, and some comparisons going back to 1884. Presents unique primary source material.

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New Jersey Assembly Bill To Hike Gas Taxes and Reduce Sales Taxes

We guarantee that this bill will have a lot of people talking.

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Employment in the Publishing Industry, 1990-2016

This Bureau of Labor Statistics feature highlights the vast changes that have taken place with the rise of cable and the Internet. In January 1990, there were 455,000 people employed by newspapers, 28,800 involved with Internet publishing/broadcasting, and 50,400 working in cable. In March 2016, the numbers are 183,200 in newspapers, 197,000 in Internet publishing, and 63,800 in cable. Other publishing sectors are also traced over time. Other workforce statistics on the publishing industry (minus the Internet component are here; statistics on Internet publishing are subsumed within “Other Information Services” here.

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Fastest Growing Private Companies in New Jersey

This list is courtesy of Inc. Click on the company name for more information. Previous years can be accessed from this site as well.

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New Jersey’s Fastest Growing High Tech Companies

Deloitte has issued its 2015 North America Fast Winners, a listing of high-performing, fast-growing, disruptive -technology-producing companies; New Jersey has ten on this list, including Jersey City’s own  SPHERE Technology Solutions, coming in at number 131. Please read New Heights for High-Tech Startups from New Jersey Business.

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Harvard Business School Working Papers

“A working paper summarizes original research in a narrow segment of a field of study, and is intended for publication within a period of one to three years.” (Introduction) Hundreds of papers are freely available and can be searched by topic, industry, geographic area, author, and date.

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2016 Forbes Billionaire List Just Released

See who is number one (it shouldn’t be a surprise). Each individual has a brief biography and profile accompanying the listing. There are multiple ways of sorting the list: country, age, industry, etc. This feature also includes real-time ranking as fortunes increase or decrease over the course of the day.

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Median Salaries by Occupation and Sex

More than 500 separate occupations are listed in this Census Bureau Table Package and are broken down by sex and median earnings. You’ll find that there are a little over 114,000 full-time librarians working in this country as compared with over 2,000,000 registered nurses.

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