CHICAGO–(BUSINESS WIRE)–James Hardie Industries plc (ASX: JHX; NYSE: JHX), the world’s #1 producer and marketer of high-performance fiber cement and fiber gypsum building solutions, received a David Weekley Homes National Preferred Partner Award for outstanding quality and customer service.
James Hardie empowers homeowners and building professionals alike to achieve the home of their dreams through endless design possibilities with the added benefits of trusted protection and lasting beauty. The company delivers the highest quality products and world-class service.
The award recognizes field and manufacturing partners that have consistently operated at world-class levels, as determined by the home builder’s supplier evaluation platform. This comprehensive process, anchored by the National Preferred Partner Survey, evaluates companies in the areas of quality and customer service.
James Hardie and David Weekley Homes partner together to meet homebuyer design, durability and quality expectations. This award exemplifies and reinforces James Hardie’s commitment to homeowner satisfaction.
“David Weekley Homes is a valued partner who continues to motivate us to provide the best possible experience for customers,” said Sean Gadd, Executive Vice President, North America Commercial.
Johnny Cope, Senior Vice President, North America Sales, added, “At James Hardie, we strive to make any dream home possible not only with a variety of colors and textures, but with durable, long-lasting fiber cement technology that holds up over time and delivers the value homeowners deserve.”
“James Hardie has demonstrated world-class quality and service this year. They have gone above and beyond to provide us with the solutions needed to surpass the expectations of our homebuyers. It is our honor to name James Hardie as a National Preferred Partner,” said John Schiegg, Vice President of Supply Chain Services for David Weekley Homes.
To learn more about James Hardie, visit jameshardie.com. For more information about the award, visit davidweekleyhomes.com.
About James Hardie Building Products Inc.
James Hardie Industries is the world’s #1 producer and marketer of high-performance fiber cement and fiber gypsum building solutions. The company empowers homeowners and building professionals alike to achieve the home of their dreams with premium quality solutions that enable endless possibilities for design and aesthetics, while also delivering trusted protection and long-lasting beauty. Key to this effort is James Hardie’s dedication to its customers, market driven innovation, an inclusive and empowering company culture, and an unwavering commitment to its Zero Harm safety initiative. For more information about James Hardie visit www.jameshardie.com.
About David Weekley Homes
David Weekley Homes, founded in 1976, is headquartered in Houston and operates in 19 cities across the United States. David Weekley Homes was the first builder in the United States to be awarded the Triple Crown of American Home Building, an honor which includes “America’s Best Builder,” “National Housing Quality Award” and “National Builder of the Year.” Weekley has also appeared 15 times on FORTUNE magazine’s “100 Best Companies to Work For®” list. Since inception, David Weekley Homes has closed more than 100,000 homes. For more information about David Weekley Homes, visit the company’s website at www.davidweekleyhomes.com.
MATAMOROS, Mexico — When the Supreme Court effectively revived a cornerstone of Trump-era migration policy late last month, it looked like a major defeat for President Biden.
After all, Mr. Biden had condemned the policy — which requires asylum seekers to wait in Mexico — as “inhumane” and suspended it on his first day in office, part of an aggressive push to dismantle former President Donald J. Trump’s harshest migration policies.
But among some Biden officials, the Supreme Court’s order was quietly greeted with something other than dismay, current and former officials said: It brought some measure of relief.
Before that ruling, Mr. Biden’s steps to begin loosening the reins on migration had been quickly followed by a surge of people heading north, overwhelming the southwest border of the United States. Apprehensions of migrants hit a two-decade high in July, a trend officials fear will continue into the fall.
to apply for asylum in the United States, but he also refused to immediately expel unaccompanied children and moved to freeze deportations.
violent attacks on migrants by law enforcement in those countries.
While the administration tried to change the welcoming tone it set early on, dispatching Vice President Kamala Harris to Guatemala to proclaim the border closed in June, migrants and smugglers say the encouraging signals sent at the outset of Mr. Biden’s term are all anyone remembers.
“‘We heard the news that the U.S. opened the borders,’” said Abraham Barberi, a pastor in the border city of Matamoros, recounting what migrants routinely tell him. So many came to town that Mr. Barberi turned his church into a migrant shelter soon after Mr. Biden came to office, as mothers and their toddlers started showing up at his door.
Transactional Records Access Clearinghouse at Syracuse University, which tracks migration data. But almost immediately, Mr. Barberi said, a gusher of new migrants showed up.
said in a Twitter post after the visit, adding, “This cruelty is not who we are.”
Disappointing August jobs numbers intensified the economic uncertainty caused by the Delta variant, putting pressure on the Federal Reserve as it considers when to reduce its policy support and on the White House as it tries to get more Americans vaccinated.
Fed officials and President Biden had been looking for continued improvement in the job market, but the Labor Department reported on Friday that employers added just 235,000 jobs in August — far fewer than projected and a sign that the ongoing coronavirus surge may be slowing hiring.
“There’s no question that the Delta variant is why today’s job report isn’t stronger,” Mr. Biden said in remarks at the White House. “I know people were looking, and I was hoping, for a higher number.”
A one-month slowdown is probably not enough to upend the Fed’s policy plans, but it does inject a dose of caution. It also will ramp up scrutiny of upcoming data as the central bank debates when to take its first steps toward a more normal policy setting by slowing purchases of government-backed bonds.
speech last week that as of the central bank’s July meeting, he and most of his colleagues thought they could start reducing the pace of asset purchases this year if the economy performed as they expected.
sharp pullback in hotel and restaurant hiring, which tends to be particularly sensitive to virus outbreaks. The participation rate, a closely watched metric that gauges what share of the population is working or looking, stagnated.
Daily Business Briefing
But there were other signs that underlying demand for workers remained strong. Wages continued to rise briskly, suggesting that employers were still paying up to lure people into work. Over the last three months, job gains have averaged 750,000, which is a strong showing. And the unemployment rate continued to decline in spite of the weakness in August, slipping to 5.2 percent.
4.2 percent in the year through July — well above the 2 percent average that officials aim to achieve over time.
Officials widely expect those price gains to slow as the economy returns to normal and supply chain snarls clear up. But they are monitoring consumer inflation expectations and wages keenly: Prices could keep going up quickly if shoppers begin to accept higher prices and workers come to demand more pay.
That’s why robust wage gains in the August report stuck out to some economists. Average hourly earnings climbed by 0.6 percent from July to August, more than the 0.3 percent economists in a Bloomberg survey had forecast. Over the past year, they were up 4.3 percent, exceeding the expected 3.9 percent.
The fresh data put the Fed “in an uncomfortable position — with the slowdown in the real economy and employment growth accompanied by signs of even more upward pressure on wages and prices,” wrote Paul Ashworth, the chief North America economist at Capital Economics.
referred to that consideration in a footnote to last week’s speech.
“Today we see little evidence of wage increases that might threaten excessive inflation,” he said.
Plus, it is unclear whether pay gains will remain robust as workers return. While it is hard to gauge how much enhanced unemployment benefits discouraged workers from taking jobs, and early evidence suggests that the effect was limited, a few companies have signaled that labor supply has been improving as they sunset.
Other trends — the end of summer and the resumption of in-person school and day care — could allow parents who have been on the sidelines to return to the job search, though that might be foiled if Delta keeps students at home.
“There’s still so much disruption, it’s hard for businesses and workers to make plans and move forward when you don’t know what’s coming around the next bend,” said Julia Coronado, the founder of MacroPolicy Perspectives, adding that this is a moment of “delicate transition.”
an ambitious proposal to cut carbon emissions, how will those who hope to succeed Chancellor Angela Merkel respond?
If only because of their sheer scale, analysts say, the floods are likely to play a significant role for voters when they go to the polls on Sept 26 to replace Ms. Merkel, who has led the country for 16 years.
The death toll in Germany climbed to at least 143 on Saturday, while the toll across the border in Belgium stood at 27, its national crisis center said. The count rose most sharply in Germany’s Ahrweiler district in Rhineland-Palatinate State, where the police said that more than 90 people had died. The authorities feared that number could yet grow.
In Germany, Europe’s largest economy and a country that prides itself on its sense of stability, the chaos wrought by nature was likely to reverberate for months, if not years.
But on Saturday, residents and rescue workers in flood-hit areas faced the more immediate and daunting task of clearing piles of debris, unclogging roads and salvaging some of the homes that had survived the deluge.
Hundreds of people remain unaccounted for, but officials have struggled to offer precise numbers.
Electricity and telephone services remain inaccessible in parts of Germany, and some roads are still impassable. That lack of access may account for the high tallies of those still considered missing. And some of those who are not accounted for could simply be away, on vacation or work assignment. In Belgium, police officers started knocking on doors to try to confirm the whereabouts of residents.
Still, officials said they expected to find additional victims.
Extreme downpours like the ones that hit Germany are one of the most visible signs that the climate is changing as a result of global warming from greenhouse gas emissions. Studies have shown a warmer atmosphere can hold more moisture, generating more rainfall.
Floods of this size have not been seen in 500 or even 1,000 years, according to meteorologists and German officials.
Rhineland-Palatinate was one of the two hardest-hit German states in the west, along with North Rhine-Westphalia. The Rhine River flows through the two regions, and the rain fell so rapidly that it engorged even small streams and tributaries not typically considered flood threats.
Germany’s president, Frank-Walter Steinmeier, traveled on Saturday to the town of Erftstadt, southwest of Cologne, where the flooding destroyed homes. Ms. Merkel planned to travel on Sunday to Schuld in Rhineland-Palatinate, which was badly hit, even as all of its 700 residents managed to survive.
There were scenes of devastation from all around Western Europe, the floods having caused damage from Switzerland to the Netherlands. But Germany was hardest hit.
Days before roiling waters tore through western Germany, a European weather agency had issued an extreme flood warning, as models showed that storms would send rivers surging to levels that had not been seen in hundreds of years.
The warnings, however, did little good.
Though Germany’s flood warning system, a network of sensors that measure river levels, functioned as it was supposed to, state and local officials said the amount of rain was unlike anything they had ever seen, causing even small streams and rivers to flood their banks.
Survivors and officials said many areas were caught unprepared as normally placid brooks and streams turned into torrents that swept away cars, houses and bridges. About 15,000 police officers, soldiers and emergency service workers have been deployed in Germany to help with the search and rescue.
Dr. Linda Speight, a hydrometeorologist at the University of Reading in Britain who studies how flooding occurs, blamed poor communication about the high risk posed by the flooding as contributing to the significant loss of life. “There should not have been so many deaths from this event,” she said.
Residents returning home, only to find their homes no longer there. Roads submerged by landslides. Loved ones still unaccounted for.
As the weather improved on Saturday and rescue workers searched for missing residents, many people in flood-hit areas of Germany were trying to re-establish some order amid the chaos and destruction.
Friends and relatives mobilized to help, maneuvering around blocked roads and washed-out bridges. Crushed cars and mounds of ruined goods were carted away, or piled by the side of muddied, cracked roads.
Many expressed amazement at how so much could have been destroyed so quickly. For Lisa Knopp, 19, who was helping to empty the flood-ruined basement of her grandmother’s home in Sinzig, a small town between the Rhine and Ahr rivers, the scenes of destruction “will stay with me a long time.”
Kim Falkenstein said her mother lost her home in Ahrweiler, one of the hardest-hit spots. Ms. Falkenstein, who was born in Ahrweiler and now lives in New York, said several friends had also lost their homes, and a classmate had died.
“I am heartbroken,” she said.
“Seeing my city being destroyed, people who I am close with losing their existence, and knowing I will never return to something I once called home,” Ms. Falkenstein said, “gives me goose bumps.”
In a country that is among Europe’s most prosperous, where orderliness is highly prized, many Germans were unnerved by the helplessness wrought by nature.
Bertrand Adams, a local official in Trier-Ehrang, a town in western Germany, stared in disbelief at the swirling waters only now receding from his community.
“It is beyond anything that could ever be imagined,” he told ZDF television. “We have a very good flood protection system that we developed only five years ago. We were so certain that nothing can go wrong.”
Daniela Schmitz, who has a ranch in Erftstadt, a town southwest of Cologne, was relieved that her property was not destroyed by the floods and that her horses had been evacuated. Others, she said, weren’t that fortunate.
“We were warned early enough — other stables are not doing so well,” she wrote in a WhatsApp message. “Many animals have drowned, entire stalls destroyed, and feed is becoming scarce. The conditions are really catastrophic in many places.”
On Saturday, German television channels carried wall-to-wall coverage of the flooding, as rescue workers continued searching for those who had been trapped by rising waters, with 143 confirmed dead in Germany and hundreds still missing.
As the official response picked up speed on Saturday, electricity, water and internet coverage were slowly being restored. Hundreds of police, fire and emergency vehicles crammed the roads into the most afflicted areas of Rhine-Palatinate and North Rhine-Westphalia.
Some customers have balked at paying top dollar for new cars and have opted to make do with older vehicles. That has increased demand for parts and service, one of the most profitable businesses for car dealers. Many dealers have extended repair-shop hours. Mr. Ricart said he had some repair technicians putting in 10- or 12-hour days three or four days in a row before taking a few days off.
Of course, the shortage of cars will end, but it isn’t clear when.
As Covid-19 cases and deaths rose last spring, automakers shut down plants across North America from late March until mid-May. Since their plants were down and they expected sales to come back slowly, they ordered fewer semiconductors, the tiny brains that control engines, transmissions, touch screens, and many other components of modern cars and trucks.
At the same time, consumers confined to their homes began buying laptops, smartphones and game consoles, which increased demand for chips from companies that make those devices. When automakers restarted their plants, fewer chips were available.
Many automakers have had to idle plants for a week or two at a time in the first half of 2021. G.M., Ford Motor and others have also resorted to producing vehicles without certain components and holding them at plants until the required parts arrive. At one point, G.M. had about 20,000 nearly complete vehicles awaiting electronic components. It began shipping them in June.
Ford has been hit harder than many other automakers because of a fire at one of its suppliers’ factories in Japan. At the end of June, Ford had about 162,000 vehicles at dealer lots, fewer than half the number it had just three months ago and roughly a quarter of the stock its dealers typically hold.
This month, Ford is slowing production at several North American plants because of the chip shortage. The company said it planned to focus on completing vehicles.
Mr. Ricart recently took a trip on his Harley-Davidson to Louisville, Ky., and got a look at the trucks and S.U.V.s at a Ford plant that are waiting to be finished. He said he had seen “thousands of trucks in fields with temporary fencing around them.”
Anxieties over a lag in hiring lifted on Friday as the government reported that employers added 850,000 workers in June, the largest monthly gain since last summer.
Wages jumped for the third month in a row, a sign that employers are trying to attract applicants with higher pay and that workers are gaining bargaining power.
Rising Covid-19 vaccination rates and a growing appetite for travel, dining out, celebrations and entertainment gave a particular boost to leisure and hospitality businesses. The biggest chunk of June’s gains — 343,000 — could be found there.
accelerated rate of early retirements means that some of those workers will never come back.
“Today there are more job openings than before the pandemic and fewer people in the labor force,” said Becky Frankiewicz, president of the staffing company ManpowerGroup North America. “The single defining challenge for employers is enticing American workers back to the work force.”
The report follows several promising economic developments this week. Consumer confidence, which surged in June, is at its highest point since the pandemic’s onset last year. Stocks closed out the first half of the year at record highs. And the Congressional Budget Office said Thursday that the economy was on track to recover all the jobs lost in the pandemic by the middle of next year.
But economists cautioned against trying to divine the complex currents crisscrossing the labor market from a single month’s data, particularly given how much the pandemic has disrupted employment patterns.
may reflect smaller-than-expected layoffs rather than big gains. Over a longer period, employment in both public and private education remains significantly below its prepandemic level.
remarks from the White House.
The June figures are unlikely to allay the concerns of small-business owners and managers who complain about the difficulty finding workers. Nearly half report that they cannot fill openings, according to a recent survey by the National Federation of Independent Business.
The competition for workers has pushed up wages. Average hourly earnings climbed 3.6 percent in the year through June and 0.3 percent over the month. Low-wage workers seem to be the biggest beneficiaries of the bump in pay.
Ms. Frankiewicz of ManpowerGroup said the rise of “superemployers” like Amazon and Walmart was making it even more difficult for small and medium-size businesses to attract workers. In the summer of 2019, the top 25 employers had 10 percent of the open jobs, she said, while “today 10 employers do.”
moved to end distribution of federal pandemic-related jobless benefits even though they are funded until September, arguing that the assistance — including a $300 weekly supplement — was discouraging people from returning to work.
The latest jobs report did not reflect the cutoff’s impact because the government surveys were completed before any states ended benefits.
Staffing firms said they had not seen a pickup in job searches or hiring in states that have since withdrawn from the federal jobless programs.
Indeed surveyed 5,000 people in and out of the labor force and found that child care responsibilities, health concerns, vaccination rates and a financial cushion — from savings or public assistance — had all affected the number looking for work. Many employers are desperate to hire, but only 10 percent of workers surveyed said they were urgently seeking a job.
And even among that group, 20 percent said they didn’t want to take a position immediately.
Aside from ever-present concerns about pay and benefits, workers are particularly interested in jobs that allow them to work remotely at least some of the time. In a survey of more than 1,200 people by the staffing company Randstad, roughly half said they preferred a flexible work arrangement that didn’t require them to be on site full time.
Some employers are getting creative with work arrangements in response, said Karen Fichuk, chief executive of Randstad North America. One employer changed the standard shift to match the bus schedule so employees could get to work more easily. Others adjusted hours to make it easier for parents with child care demands.
Health and safety concerns are also on the minds of workers whose jobs require face-to-face interactions, the survey found.
Black and Hispanic workers, who were disproportionately affected by the coronavirus and by job losses, are having trouble regaining their foothold. “The Black unemployment rate is still exceptionally high,” at 9.2 percent compared with 5.2 percent for white workers, said Michelle Holder, an economist at John Jay College in New York.
One factor in the elevated Black jobless rate is that the ranks of Black workers employed or seeking jobs grew sharply last month. But participation in the labor force remains lower than it was before the pandemic among all major racial and ethnic groups.
Professor Holder said some people were reluctant to rejoin the labor force because of the quality and the pay of the work available.
“We don’t have a shortage of people to work,” she said. “What we don’t have are decent jobs.”
Jeanna Smialek and Ben Casselman contributed reporting.
TORONTO — Vancouverites were frying eggs on pans placed on their terraces.
One man checked into an air-conditioned five-star hotel, after the five fans aimed at his bed at home and the seventh cold shower failed to bring relief.
Lettuce plants shriveled in the Okanagan Valley, British Columbia’s picturesque wine region. Flowers wilted. People wilted.
The heat wave across western Canada has much of a country known for its sweater weather sweating.
Canada broke a national heat record on Sunday when the temperature in a small town in British Columbia reached almost 116 degrees Fahrenheit, breaking an 84-year-old record by nearly 3 degrees, with dangerously hot weather expected to continue for several more days.
“This is a complete shock to a Canadian— this feels like Las Vegas or India — not Vancouver,” said Chris Johnson, a criminal lawyer who on Monday was heading to an air-conditioned hotel room as temperatures inside his home reached 90 degrees Fahrenheit.
the northwestern United States, including 112 degrees on Sunday in Portland, Ore.
Emily Jubenvill, co-owner and manager at Enderberry Farm, a farm that produces organic vegetables in the northern Okanagan Valley, said she and her husband were planning to beat the heat by getting to the fields at 3 a.m. Tuesday to pick vegetables. “Things are maturing faster under the stress of the heat, and so we’re not able to harvest as much,” she said, noting that the flavor of vegetables like lettuce could turn extremely bitter if exposed to very hot weather.
Canada’s old national heat record was 45 degrees Celsius, or 113 Fahrenheit, but on Sunday, Lytton, a town of fewer than 300 about three hours east of Vancouver, reached 46.6 Celsius, or 115.9 Fahrenheit, according to Environment Canada.
Other towns in southern British Columbia, including Victoria, Kamloops and Kelowna, are breaking local records under the high-pressure heat dome, and temperatures well over 100 degrees are forecast through Wednesday.
Previously, Midale and Yellow Grass, both in rural Saskatchewan, held the record in Canada for the highest temperature on July 5, 1937, at 113 degrees.
National Climate Assessment, a scientific report by 13 U.S. federal agencies, heat waves have climbed from two per year in the 1960s to six per year by the 2010. The season for heat waves has also grown 45 days longer than it was in the 1960s, the report notes.
Heat Wave Hits North America
As suffocating heat hits much of Western North America, experts are concerned about human safety and power failures.
Western Canada: Canada broke a national heat record on June 27, when the temperature in a small town in British Columbia reached almost 116 degrees Fahrenheit, breaking an 84-year-old record by nearly 3 degrees, with dangerously hot weather expected to continue for several more days.
Pacific Northwest U.S.: A heat dome has enveloped the region driving temperatures to extreme levels — with temperatures well above 100 degrees — and creating dangerous conditions in a part of the country unaccustomed to oppressive summer weather or air-conditioning.
Severe Drought: Much of the Western half of the United States is in the grip of a severe drought of historic proportions. Conditions are especially bad in California and the Southwest, but the drought extends into the Pacific Northwest, much of the Intermountain West, and even the Northern Plains. The extreme heat is exacerbating the dry conditions.
Growing Energy Shortages: Power failures have increased by more than 60 percent since 2015, even as climate change has made heat waves worse, according to new research published in the journal Environmental Science & Technology.
Baseline Temperatures Are Rising: New baseline data for temperature, rain, snow and other weather events reveal how the climate has changed in the United States. One key takeaway, the country is getting hotter.
It is all part of an overall warming trend: The seven warmest years in the history of accurate worldwide record-keeping have been the last seven years, and 19 of the 20 warmest years have occurred since 2000. An analysis from the Copernicus Climate Change Service, a group of European climate researchers, found that the hottest year on record was 2020, tied with 2016.
Several school districts in British Columbia were closed on Monday, given that many buildings are not fitted with air conditioning. Temperatures rarely go above 86 degrees Fahrenheit in Vancouver, Mr. Phillips said.
British Columbia Hydro and Power Authority, a state-owned utilities company, saw back-to-back record-breaking electricity use on Saturday and Sunday, with some local power outages reported across the system, the Provincial Crown corporation said in a news release Monday.
On social media, people posted photographs of their pets cooling off with ice packs, putting out water trays for birds or avoiding the sun altogether.
In a weather alert for Metro Vancouver on Monday, Environment Canada warned that temperatures could reach as high as 44 degrees Celsius, or 111 degrees Fahrenheit, during the day.
“The duration of this heat wave is concerning as there is little relief at night with elevated overnight temperatures,” it wrote, advising local residents to navigate the “record-breaking heat” by drinking plenty of water and avoiding leaving people and pets in a parked vehicle.
It also advised residents to watch out for the symptoms of heat illness such as dizziness, fainting, nausea and decreased urination.
In the story of how the modern world was constructed, Toyota stands out as the mastermind of a monumental advance in industrial efficiency. The Japanese automaker pioneered so-called Just In Time manufacturing, in which parts are delivered to factories right as they are required, minimizing the need to stockpile them.
Over the last half-century, this approach has captivated global business in industries far beyond autos. From fashion to food processing to pharmaceuticals, companies have embraced Just In Time to stay nimble, allowing them to adapt to changing market demands, while cutting costs.
But the tumultuous events of the past year have challenged the merits of paring inventories, while reinvigorating concerns that some industries have gone too far, leaving them vulnerable to disruption. As the pandemic has hampered factory operations and sown chaos in global shipping, many economies around the world have been bedeviled by shortages of a vast range of goods — from electronics to lumber to clothing.
In a time of extraordinary upheaval in the global economy, Just In Time is running late.
“It’s sort of like supply chain run amok,” said Willy C. Shih, an international trade expert at Harvard Business School. “In a race to get to the lowest cost, I have concentrated my risk. We are at the logical conclusion of all that.”
shortage of computer chips — vital car components produced mostly in Asia. Without enough chips on hand, auto factories from India to the United States to Brazil have been forced to halt assembly lines.
But the breadth and persistence of the shortages reveal the extent to which the Just In Time idea has come to dominate commercial life. This helps explain why Nike and other apparel brands struggle to stock retail outlets with their wares. It’s one of the reasons construction companies are having trouble purchasing paints and sealants. It was a principal contributor to the tragic shortages of personal protective equipment early in the pandemic, which left frontline medical workers without adequate gear.
a shortage of lumber that has stymied home building in the United States.
Suez Canal this year, closing the primary channel linking Europe and Asia.
“People adopted that kind of lean mentality, and then they applied it to supply chains with the assumption that they would have low-cost and reliable shipping,” said Mr. Shih, the Harvard Business School trade expert. “Then, you have some shocks to the system.”
An Idea That Went ‘Way Too Far’
presentation for the pharmaceutical industry. It promised savings of up to 50 percent on warehousing if clients embraced its “lean and mean” approach to supply chains.
Such claims have panned out. Still, one of the authors of that presentation, Knut Alicke, a McKinsey partner based in Germany, now says the corporate world exceeded prudence.
“We went way too far,” Mr. Alicke said in an interview. “The way that inventory is evaluated will change after the crisis.”
Many companies acted as if manufacturing and shipping were devoid of mishaps, Mr. Alicke added, while failing to account for trouble in their business plans.
“There’s no kind of disruption risk term in there,” he said.
Experts say that omission represents a logical response from management to the incentives at play. Investors reward companies that produce growth in their return on assets. Limiting goods in warehouses improves that ratio.
study. These savings helped finance another shareholder-enriching trend — the growth of share buybacks.
In the decade leading up to the pandemic, American companies spent more than $6 trillion to buy their own shares, roughly tripling their purchases, according to a study by the Bank for International Settlements. Companies in Japan, Britain, France, Canada and China increased their buybacks fourfold, though their purchases were a fraction of their American counterparts.
Repurchasing stock reduces the number of shares in circulation, lifting their value. But the benefits for investors and executives, whose pay packages include hefty allocations of stock, have come at the expense of whatever the company might have otherwise done with its money — investing to expand capacity, or stockpiling parts.
These costs became conspicuous during the first wave of the pandemic, when major economies including the United States discovered that they lacked capacity to quickly make ventilators.
“When you need a ventilator, you need a ventilator,” Mr. Sodhi said. “You can’t say, ‘Well, my stock price is high.’”
When the pandemic began, car manufacturers slashed orders for chips on the expectation that demand for cars would plunge. By the time they realized that demand was reviving, it was too late: Ramping up production of computer chips requires months.
stock analysts on April 28. The company said the shortages would probably derail half of its production through June.
The automaker least affected by the shortage is Toyota. From the inception of Just In Time, Toyota relied on suppliers clustered close to its base in Japan, making the company less susceptible to events far away.
‘It All Cascades’
In Conshohocken, Pa., Mr. Romano is literally waiting for his ship to come in.
He is vice president of sales at Van Horn, Metz & Company, which buys chemicals from suppliers around the world and sells them to factories that make paint, ink and other industrial products.
In normal times, the company is behind in filling perhaps 1 percent of its customers’ orders. On a recent morning, it could not complete a tenth of its orders because it was waiting for supplies to arrive.
The company could not secure enough of a specialized resin that it sells to manufacturers that make construction materials. The American supplier of the resin was itself lacking one element that it purchases from a petrochemical plant in China.
One of Mr. Romano’s regular customers, a paint manufacturer, was holding off on ordering chemicals because it could not locate enough of the metal cans it uses to ship its finished product.
“It all cascades,” Mr. Romano said. “It’s just a mess.”
No pandemic was required to reveal the risks of overreliance on Just In Time combined with global supply chains. Experts have warned about the consequences for decades.
In 1999, an earthquake shook Taiwan, shutting down computer chip manufacturing. The earthquake and tsunami that shattered Japan in 2011 shut down factories and impeded shipping, generating shortages of auto parts and computer chips. Floods in Thailand the same year decimated production of computer hard drives.
Each disaster prompted talk that companies needed to bolster their inventories and diversify their suppliers.
Each time, multinational companies carried on.
The same consultants who promoted the virtues of lean inventories now evangelize about supply chain resilience — the buzzword of the moment.
Simply expanding warehouses may not provide the fix, said Richard Lebovitz, president of LeanDNA, a supply chain consultant based in Austin, Texas. Product lines are increasingly customized.
“The ability to predict what inventory you should keep is harder and harder,” he said.
Ultimately, business is likely to further its embrace of lean for the simple reason that it has yielded profits.
“The real question is, ‘Are we going to stop chasing low cost as the sole criteria for business judgment?’” said Mr. Shih, from Harvard Business School. “I’m skeptical of that. Consumers won’t pay for resilience when they are not in crisis.”
A decade ago, after a rained-out Thanksgiving desert camping trip with our five kids, my wife, Kristin, and I headed to the nearest available lodging, the now-shuttered Hard Rock Casino in Las Vegas. Watching our brood eat their Thanksgiving meal as cigarette smoke and slot-machine clamor wafted over their cheeseburgers, Kristin and I locked eyes with an unspoken message: We are the world’s worst parents.
We have avoided Las Vegas with the kids since then, but an aborted drive to slushy Aspen this April with three of our heirs caused us to pause in Vegas. At the time, the city was just awakening from its Covid slumber, with mandatory masks and limited capacity in most indoor spaces, traffic so light that cars were drag-racing down the normally packed Strip, and a lingering, troubling question over the whole place: Will this reopening really be safe?
But extraordinary things have been happening during this slumber, and while we were only going to spend one night there, we had so much fun that we ended up staying four. At first we spent most of our time in the relative safety of the outdoors, but then we started to relax along with the rest of the city, drowning our hands beneath the ubiquitous liquid sanitizer dispensers, masking up and heading indoors.
I knew things had shifted in Sin City when, while maneuvering the minivan through some seemingly dicey neighborhood between Downtown and the Strip, I noted on the back alley wall of a hair salon a striking mural depicting the cult outsider artist Henry Darger’s seven Vivian Girl warriors in their trademark yellow dresses. What were the Vivian Girls doing here?
Makers & Finders — and wandered along Spring Mountain Road, the hub of the city’s Chinatown, rapidly expanding westward. In the midcentury mecca of East Fremont Street, a $350 million investment by the tech titan Tony Hsieh, who died last year, has produced a boulevard of fantastical art installations, restored buildings and a sculptural playground surrounded by stacked shipping containers converted to boutiques and cafes, all guarded by a giant, fire-spewing, steel praying mantis.
“Vegas is going through a cultural renaissance,” a former member of the city’s Arts Commission, Brian “Paco” Alvarez, told me in a recent telephone interview. “A lot of the local culture that comes out of a city with two million unusually creative people didn’t stop during the pandemic.”
Area15, which opened in February in a mysterious, airport-hanger-size, windowless building two miles west of the Strip. Imagine an urban Burning Man mall (indeed, many of the sculptures and installations came from the annual arts festival held in northern Nevada), with some dozen tenants providing everything from virtual reality trips to nonvirtual ax throwing, accompanied by Day-Glo color schemes, electronic music, giant interactive art installations and guests flying overhead on seats attached to ceiling rails. Face masks are currently only mandatory in Area15 for self-identified unvaccinated people, though some of the attractions within still require face masks for everyone. Everywhere, we encountered the constant presence of cleaning attendants spraying and wiping surfaces.
Blue Man Group, who was bringing his creative magic to Area15 in the form of a “Psychedelic Art House Meets Carnival Funhouse” called Wink World (adult tickets start at $18). Wink World is centered around six rooms with infinity mirror boxes reflecting Slinkys, plasma balls, fan spinners, Hoberman Spheres and ribbons dancing to an ethereal soundtrack of electronic music, rhythmic chanting and heavy breathing.
“I worked on these installations for six years in my living room in New York,” Mr. Wink told me. “I was trying to evoke psychedelic experiences without medicine.”
My unmedicated children were transfixed, as if these familiar toys frolicking into eternity were totems to their own personal nirvanas. I’ve never seen them stand so still in front of an art exhibit.
Omega Mart (adult admissions start at $45, face mask and temperature check mandatory), the biggest attraction in the complex, lines one side of the complex’s atrium and seemed — at first — to provide a banal respite from Area15’s sensory overload. Along the sale aisles I found Nut Free Salted Peanuts, Gut Monkey Ginger Ale and cans of Camels Implied Chicken Sop.
Meow Wolf (the name derived from pulling two random words from a hat during their first meeting), Omega Mart is an amalgamation of some 325 artists’ creations tied together by disparate overlapping story lines which one can follow — or not.
For a short time, I tracked the story of the takeover of Omega Mart’s corporate headquarters by a hilariously manipulative New Agey daughter, and then got sidelined into the tale of a teen herbalist leading a rebellion to something else. I have no idea what I experienced other than that Brian Eno composed the music to one of the installations. None of my kids could explain what they experienced either, other than something mind-expanding. If it wasn’t for dinner, we might still be in there.
Raku. Step behind an understated white backlit sign and you enter an aged wood interior of an intimate restaurant that you might find off a Kyoto alley. We slid into the family-style tables behind the main dining room and commenced to feast. There’s a $100 tasting menu if you are feeling adult, but my tribe ordered cream-like tofu with dried fish, foie gras skewers and a dozen other items.
Chinatown became our go-to-spot for snacks and boba tea between adventures. A favorite spot became Pho 90, a low-key Vietnamese cafe with outstanding noodle dishes and exquisitely layered banh mi sandwiches for picnics in the wild.
Red Rock Canyon, 17 miles west of the Strip, is like walking into a Road Runner cartoon with a Technicolor ballet of clashing tectonic formations. We grabbed our admittedly reluctant brood on a 2.4-mile, round-trip hike on the Keystone Thrust Trail through a series of gullies until we emerged above epic white limestone cliffs jutting through the ocher-colored mountains. Here we had our Vietnamese picnic overlooking the monolithic casinos in the distance.
Rail Explorers has set up rail bike tours on the abandoned tracks leading to the Hoover Dam construction site. We booked a sunset tour (from $85 to $150 for a tandem quad bike). After some quick instruction, we, along with three dozen other visitors, climbed into an 800-pound, four-person Korean-made bike rig and, giving the group ahead of us a three-minute head start for some space, started peddling.
Our route was along four miles of desert track gently sloping into a narrowing canyon pass. As we effortlessly peddled at 10 miles per hour, we noticed that the spikes holding down the railroad ties were often crooked or missing. “I bet these were all driven in by hand,” my teenage son, Cody, a history buff, noted.
In the enveloping dusk, we glimpsed shadows moving along the sagebrush: bighorn sheep, goats and other critters emerging for their nocturnal wanderings. But the most surreal sight was at the end of the ride, where a giant backlit sign for a truck stop casino appeared over a desert butte — Vegas was beckoning us back, but now we welcomed the summons. Here we were, peddling into the sunset, feeling more athletic, cool and (gasp!) enlightened than when we first rolled into Vegas four days ago. Oh what good parents we were!
“The moniker of ‘Sin City’ is totally wrong,” Mr. Alvarez told me, “if you know where to look.”
RIO DE JANEIRO — Fretting over a fever in her toddler that wouldn’t break, the mother took the young girl, Letícia, to a hospital. Doctors had worrisome news: It was Covid-19.
But they were reassuring, noting that children almost never develop serious symptoms, said the mother, Ariani Roque Marinheiro.
Less than two weeks later, on Feb. 27, Letícia died in the critical care unit of the hospital in Maringá, in southern Brazil, after days of labored breathing.
“It happened so quickly, and she was gone,” said Ms. Marinheiro, 33. “She was everything to me.”
Covid-19 is ravaging Brazil, and, in a disturbing new wrinkle that experts are working to understand, it appears to be killing babies and small children at an unusually high rate.
scientists say are leading to more severe cases of Covid in young, healthy adults and driving up death tolls in Brazil — on babies and children.
But experts say the variant appears to be leading to higher death rates among pregnant women. Some women with Covid are giving birth to stillborn or premature babies already infected with the virus, said Dr. André Ricardo Ribas Freitas, an epidemiologist at São Leopoldo Mandic College in Campinas, who led a recent study on the impact of the variant.
“We can already affirm that the P.1 variant is much more severe in pregnant women,” said Dr. Ribas Freitas. “And, oftentimes, if the pregnant woman has the virus, the baby might not survive or they might both die.”
Lack of timely and adequate access to health care for children once they fall ill is likely a factor in the death toll, experts said. In the United States and Europe, experts said, early treatment has been key to the recovery of children infected with the virus. In Brazil, overstretched doctors have often been late to confirm infections in children, Dr. Marinho said.
“Children are not being tested,” she said. “They get sent away, and it’s only when these children return in a really bad state that Covid-19 is suspected.”
study published in the Pediatric Infectious Disease Journal in January foundthat children in Brazil and four other countries in Latin America developed more severe forms of Covid-19 and more cases of multisystem inflammatory syndrome, a rare and extreme immune response to the virus, compared with data from China, Europe and North America.
Even before the pandemic began, millions of Brazilians living in poor areas had limited access to basic health care. In recent months, the system has been overwhelmed as a crush of patients have flooded into critical care units, resulting in a chronic shortage of beds.
“There’s a barrier to access for many,” said Dr. Ana Luisa Pacheco, a pediatric infectious diseases specialist at the Heitor Vieira Dourado Tropical Medicine Foundation in Manaus. “For some children, it takes three or four hours by boat to get to a hospital.”
The cases in children have shot up amid Brazil’s broader explosion in infections, which experts attribute to President Jair Bolsonaro’s cavalier response to the pandemic and his government’s refusal to take vigorous measures to promote social distancing. A lagging economy has also left millions without income or enough food, forcing many to risk infection as they search for work.
Some of the children who have died of the virus already had health issues that made them more vulnerable. Still, Dr. Marinho estimates that they represent just over a quarter of deaths among children under 10. That suggests that healthy children, too, seem to be at heightened risk from the virus in Brazil.
Letícia Marinheiro was one such child, her mother said. A healthy baby who had just started walking, she had never been sick before, Ms. Marinheiro said.
Ms. Marinheiro, who was infected along with her husband Diego, 39, believes Letícia might have lived if her illness had been treated with more urgency.
“I think they didn’t believe that she could be so sick, they didn’t believe it could happen to a child,” said Ms. Marinheiro.
She recalled pleading to have more tests done. Four days into the child’s hospitalization, she said, doctors had still not fully examined Letícia’s lungs.
Ms. Marinheiro is still unsure how her family got sick.
She had kept Letícia — a first child the couple had badly wanted for years — at home and away from everyone. Mr. Marinheiro, a supplier of hair salon products, had been cautious to avoid contact with clients, even as he kept working to keep the family financially afloat.
For Ms. Marinheiro, the sudden death of her daughter has left a gaping hole in her life. As the pandemic rages on, she says, she wishes other parents would quit underestimating the dangers of the virus that took Letícia away from her. In her city, she watches as families throw birthday parties for children and officials push to reopen schools.
“This virus is so inexplicable,” she said. “It’s like playing the lottery. And we never believe it will happen to us. It’s only when it takes someone from your family.”