Cat announces more job cuts, plant closures

Caterpillar Inc. announced today it will close five facilities in the south and eliminate about 820 positions in the next year to 18 months.

The company also plans to demolish one of its large vacant buildings in Mossville to save on maintenance costs as it continues to restructure and reduce costs in what it calls “tough market conditions” that have harmed its sales and profitability.

The cuts announced today are part of the restructuring first announced last September and will bring to about 5,300 the number of jobs that have been cut since that time and to 20 the number of facilities to be closed. Caterpillar said the closures represent about 7 percent of its total square footage around the world.

“Caterpillar continues to take costs out of its business to align with lower demand as part of an aggressive and significant restructuring initiative first announced in September 2015. These actions are resulting in substantial cost reduction for the company in these tough market conditions,” the company said in a statement.

“These decisions enable the company to be more efficient and better utilize its manufacturing assets,” it said.

The announcements include:

• Production of buckets and other work tool attachments for the medium wheel loader product line in the Jacksonville, Florida, facility will move to existing suppliers. The Jacksonville facility is expected to close by year-end 2016, impacting about 70 positions.
• Caterpillar will close the Morganton, North Carolina, facility where it manufactures engine and undercarriage components. Some production will shift to other Caterpillar facilities. The rest will transition to outside suppliers. This closure impacts about 110 positions.  Production is expected to continue into 2017. The final transition for the consolidation is expected to be completed within the next 12-18 months.
• On Caterpillar’s Mossville, Illinois, campus, it will demolish Building BB. The building, which used to house engine manufacturing, has been mostly vacant since 2011, and therefore, employment will not be impacted. Preparations will begin this spring, with demolition beginning later this year. Demolition will result in a net cost savings for Caterpillar, as the company will eliminate the ongoing maintenance and operating costs of the structure.
• The company will consolidate two facilities in South Carolina that are part of its generator set business into existing Caterpillar engine facilities throughout the United States. The facilities that will close are the electric power generator set packaging facility in Newberry, South Carolina, and the generator set control panel assembly facility in Ridgeway, South Carolina. This will result in a reduction of about 325 positions in Newberry and about 75 in Ridgeway. The work will be consolidated into existing Caterpillar engine facilities in Seguin, Texas, Lafayette, Indiana, and Griffin, Georgia. This transition is expected to begin this year and be completed in the next 12-18 months.
• In Oxford, Mississippi, the company will close its facility that produces hose couplings and move some operations into Caterpillar’s Menominee, Michigan, facility. The remainder of operations will be transitioned to suppliers. The closure will impact around 240 positions. Production is expected to continue into 2017.  The final transition for the consolidation is expected to be completed within the next 12-18 months.

“Caterpillar recognizes these restructuring actions are painful for its dedicated workforce, their families and the impacted communities. The decisions are difficult; however, it is necessary to have the right capacity in place for the tough market conditions the company is facing,” the company said.  

No Kid Hungry reaches milestone

Monday marked a significant achievement in the fight to end childhood hunger in America: After two years in the making, one million more kids are now eating school breakfast thanks to No Kid Hungry and its partners, including education and nutrition professionals working on behalf of kids every day.

This is a critical milestone toward ensuring kids have the food they need to focus during their school day, as participation in the national school breakfast program is at a record high.

Making breakfast part of the regular school day has a powerful effect on kids, and a healthy breakfast at school can make a lasting impact on kids' futures. Research shows that when kids consistently eat breakfast at school, attendance rates improve an average of 1.5 days more per school year, math test scores rise up to 17.5 percent, and they are 20 percent more likely to graduate.

"There's nothing negative about having a child that's not hungry, and who is very likely to pay attention and learn because they're not hungry," saidOscar Troncoso, principal and assistant superintendent at Anthony High School inEl Paso, Texas. "I think it's just a big blessing for our community, for them to be able to be served breakfast every day."

Despite this tremendous accomplishment, too many kids are still starting the school day hungry. Millions of kids are opening their textbooks on an empty stomach, but hungry kids can't learn. Only about half of the 22 million kids who qualify for a free or reduced price school lunch are also receiving breakfast, even though they're eligible for both meals.

There are a number of reasons kids aren't getting school breakfasts, such as having to get to school early or feeling singled out going to the cafeteria while other classmates head to class. No Kid Hungry is working with a growing number of local and national leaders in school districts, cities and states across the country to make breakfast part of the regular school day and increase participation so all kids start their school day ready to learn.

No Kid Hungry has achieved critical success in feeding kids breakfast in communities likeNew Orleans, Dallas,New York City,Los Angelesand many more. Since launching the campaign, No Kid Hungry has connected kids facing hunger to more than 460 million meals. 

"The simple act of feeding a hungry child a healthy school breakfast can have a dramatic impact on their academic, health and economic futures," saidBilly Shore, founder and CEO of Share Our Strength. "Adding one million more kids to the breakfast program is a huge milestone, but we need to continue our work to strengthen future generations."

No Kid Hungry's breakfast work is sponsored by Citi and Kellogg Company. For more information on how breakfast can impact a child's life, visitNoKidHungry.org/breakfast.

About NO KID HUNGRY  

No child should go hungry in America, but 1 in 5 kids will face hunger this year. Using proven, practical solutions, No Kid Hungry is ending childhood hunger today by ensuring that kids start the day with a nutritious breakfast and families learn the skills they need to shop and cook on a budget. When we all work together, we can make sure kids get the healthy food they need.

No Kid Hungry is a campaign of national anti-hunger organization Share Our Strength. Join us atNoKidHungry.org.

Report shows math and reading skills on decline among 12 graders

Results from The Nation's Report Card: 2015 Mathematics and Reading at Grade 12 indicate scores for high school seniors were 2 points lower in mathematics and remained unchanged in reading in 2015 compared with 2013; overall, scores were not significantly different in mathematics and were 5 points lower in reading since the first comparable assessment year — 2005 for mathematics and 1992 for reading.

The National Assessment of Educational Progress (NAEP), known as The Nation's Report Card, also shows that an estimated 37 percent of 12th-graders are prepared for college-level coursework in each subject. In 2013, the last time the assessments were given, an estimated 39 percent of grade 12 students were prepared for college-level mathematics and an estimated 38 percent for college-level reading.  

"The 12th-grade NAEP results confirm the need to move swiftly to ensure that all students have access to high-quality programs that prepare them for success in higher education and the workforce," said Governing Board member Mitchell Chester, who is also commissioner of the Massachusetts Department of Elementary and Secondary Education. "Too many 12th-graders are unprepared for the world after high school."

The National Assessment Governing Board, which sets policy for NAEP, began using NAEP in 2013 to estimate the percentage of grade 12 students who possess the knowledge and skills in reading and mathematics that would make them academically prepared for first-year college coursework. The Governing Board has been conducting extensive research in this area since 2008.

NAEP results are measured at three achievement levels: Basic, Proficient and Advanced. Basic denotes partial mastery of knowledge and skills, Proficient denotes solid academic performance and Advanced represents superior work. To determine the percentage of students performing at or above the level indicating college preparedness, a single score is identified in each subject. These scores correspond closely with scores that define the Proficient level but were independently determined as a result of the Governing Board's preparedness research.

2015 Grade 12 Mathematics: The results are based on a nationally representative sample of 13,200 12th-graders from 740 schools. The mathematics assessment measures performance in four areas: (1) number properties and operations; (2) measurement and geometry; (3) data analysis, statistics and probability; and (4) algebra. Students earning a score equivalent to the national average were likely to be able to use proportions to calculate height but were not likely to be able to use an algebra model to predict cost with a calculator. Some key highlights:

• 25 percent of grade 12 students across the country scored at or above the Proficient level, including 3 percent who scored at the Advanced level, in 2015.
• The percentage of students performing at or above the Basic level in 2015 was lower compared with data from 2013; however, a higher percentage of students performed below Basic.
• 47 percent of Asian students, 32 percent of white students and 31 percent of students of two or more races scored at or above the Proficient level; 7 percent of black, 10 percent of American Indian/Alaska Native and 12 percent of Hispanic students scored at or above Proficient in 2015.
• English language learners scored higher in 2015 than in 2013, but native English speakers scored lower.
• Students whose parents did not graduate from high school or had only some education after high school scored lower in 2015 than in 2013. There was no change in scores for students whose parents had graduated from high school or from college when compared with 2013.
• There was no change in scores for students with disabilities, and scores for students who are not identified as students with disabilities decreased compared with 2013.

2015 Grade 12 Reading: The results are based on a nationally representative sample of 18,700 12th-graders from 740 schools. The reading assessment measures students' comprehension of two types of texts: literary and informational. Students earning a score equivalent to the national average were likely to be able to make an inference based on details in a reading text but were not likely to be able to recognize detail related to the purpose of a reading text. Some key highlights:

• 37 percent of grade 12 students across the nation performed at or above the Proficient level, including 6 percent who scored at the Advanced level, in 2015.
• 49 percent of Asian students, 46 percent of white students and 45 percent of students of two or more races scored at or above Proficient, while 17 percent of black students, 25 percent of Hispanic students and 28 percent of American Indian/Alaska Native students reached that achievement level in 2015.
• The percentage of students performing below Basic in 2015 was higher compared with 2013.
• Since 2013, scores have increased for students performing at the 90th percentile and have declined for students at the 25th and 10th percentiles.
• The achievement gap between black and white students was wider when compared with the first assessment in 1992.

During each assessment, 12th-graders were asked questions about their lives and specific habits to determine any relationships between students' experiences and NAEP performance. For both reading and mathematics, 42 percent of students said they had been accepted to a four-year college at the time of the assessment. In both subjects, students' NAEP scores increased as they reported reading more pages each day in school and for homework, in categories from five or fewer pages to more than 20 pages. In mathematics, students who took higher-level courses such as calculus performed better on NAEP than students who took lower-level mathematics courses. And in reading, students who read for fun every day or almost every day scored higher on NAEP than those who read for fun less often.

"A strong foundation in math and reading is essential to a student being prepared for college academics and for most careers, so this trend of stagnating scores is worrisome," Governing Board Chair Terry Mazany said. "We must examine how we're preparing students for life after high school, whether offering more students advanced math coursework, for example, or placing greater emphasis on reading for pleasure and for school. This is a crucial time in education, and there are many things each of us can do to help ensure every student succeeds."

To see more scores, visit www.nationsreportcard.gov/reading_math_g12_2015. To learn more about the Governing Board's research on college preparedness, visit www.nagb.org/what-we-do/preparedness-research.html.

Healthcare costs chief concern among Americans

Americans are most worried about healthcare costs affecting the U.S. economy over other financial hot topics such as tax increases and income inequality, according to a survey just released by GOBankingRates.com.

Although the economy often takes priority in voters' minds over issues like immigration, terrorism or racism, GOBankingRates delved deeper to find which particular economic issues matter most to American voters.

The survey asked respondents to rank the following financial burdens from most significant to least significant. The following percentages reflect how frequently the specific answer choice was selected as being the No. 1 issue hindering the economy:

• Healthcare costs — 31%
• Social Security benefits — 16%
• Income inequality — 15%
• Tax increases — 13%
• Higher education costs — 13%
• Military spending — 11%

"Our study found that 'healthcare costs' was chosen as most significant twice as much as the other five financial burdens," said Kristen Bonner, research lead for GOBankingRates' Financial Burdens Survey. "Even more alarming, every age group, with the exception of people under 24 years old and people over 65, chose healthcare costs as most significant more than any other factor."

Additional Insights:

• Although women are more concerned with the economic impacts of healthcare costs, men are more worried by the burden tax increases will have on the economy.
• 1 in 3 millennials (ages 18 to 24) selected college costs as the No. 1 financial burden Americans face.
• Democrats chose income inequality as the biggest financial burden on the U.S. economy four times more than Republicans did.
• Republicans are about four times as likely as Democrats to say tax increases are the top financial burden.

In addition to investigating what Americans believe is the biggest economic burden for the U.S. as a whole, GOBankingRates also asked respondents about their personal financial concerns, finding that one in four Americans says cost of living is the No. 1 financial problem affecting them as individuals. Insufficient income and healthcare costs took the No. 2 and No. 3 spots, respectively.

See the full survey data at:

http://www.gobankingrates.com/personal-finance/healthcare-costs-americas-financial-burden-survey-finds/

Methodology: This survey was conducted by GOBankingRates through Survata.com and collected 1,007 responses from March 16-17, 2016, with a margin of error of 3.1 percent.