Farm Bureau urges quick action on trade deals

From ILLINOIS NEWS NETWORK

The Illinois Farm Bureau (IFB) isn’t happy with recent trade moves by President Donald Trump, and they hope there’s a quick move to get new agreements in place.

One of the first executive orders Trump signed was to withdraw from the Trans-Pacific Partnership (TPP).

“Illinois agriculture depends on free trade agreements to sell our products,” IFB President Rich Guebert said. “Currently, 46 percent of Illinois exports go to Trans-Pacific countries. The TPP was expected to increase Illinois’ cash receipts and net exports by $281.1 million and $127.4 million per year, respectively.”

Trump said Thursday in Philadelphia at the Republican Congressional Retreat that America can get better deals one-on-one.

“They won’t be a whole big mash pot,” he said. “They’ll be one-on-one deals, and if that particular country doesn’t treat us fairly, we send them a notice of termination.”

Guebert acknowledged greater opportunities in bilateral trade deals.

“It probably gives you different opportunities as you move forward, whether it would be specifically with meats or with corn or with soybeans or with distillers’ grains.”

But Guebert said those deals need to happen soon, as farmers are in the stage of marketing crops and preparing for the next planting season.

“Get them resolved sooner than later,” Guebert said.

He said it should not be a “two or a four-year process in these negotiations. I don’t think Illinois agriculture or the Illinois farm economy can wait that long.”

Trump said Thursday in Philadelphia he’s working on it.

“This is going to be so much better and we’re already on it,” he said. “I would like to have my Commerce Secretary Wilbur (Ross) approved.”

In the meantime, Trump said he may have to negotiate some trade deals himself.

Cat posts loss for 2016; signs of recovery starting to emerge

After reporting that 2016 ended with its first loss in several years and that 2017 would add to the string of challenging years, Caterpillar Inc. said it does see signs of recovery in many of its businesses and in areas of the world where it trades.

It will, however, probably be at least another year before those positive signs find their way to the company’s bottom line.

With sales and revenues for the year down 18 percent, Caterpillar announced Thursday that it lost 11 cents a share for the year, compared with a profit of $4.18 a share in 2015, and $2 a share for the fourth quarter, compared with a loss of 16 cents a share a year earlier, as global economies continued to struggle. It was the first recorded loss since 2011.

The losses included three large non-cash charges the company took in 2016 as well as higher-than-expected restructuring charges. Removing those items, it said, and the company had a profit of $3.42 a share for the year and 83 cents a share in the fourth quarter.

Sales and revenues fell from $47 billion in 2015 to $38.5 billion in 2016, including a drop from $11 billion to $9.6 billion in the fourth quarter.

The results were well below Wall Street expectations and that, combined with a still-cautious outlook for 2017 caused many in the investment community to sell Caterpillar shares. The company’s stock closed at $97.22 a share, down from $98.15 a share. Nearly 9.1 million shares, or almost twice as many as the daily average, were traded on the New York Stock Exchange.

“Our results for the fourth quarter, while slightly better than expected, continued to reflect pressure in many of our end markets from weak economic conditions around much of the world,” said CEO Jim Umpleby, who took over that position from Doug Oberhelman on Jan. 1. Oberhelman remains chairman of the board through March, when he will retire.

“Our team did a great job in the quarter, as they have all year, aligning our cost structure with current demand while preserving capacity for the future. I’m confident we are focusing on the right areas: controlling costs, maintaining a strong balance sheet and investing in the key areas important to our future,” Umpleby said.

Caterpillar said it adjusted its financials to remove the extraordinary items because “we do not consider these items to be indicative of earnings from ongoing business activities” and that showing adjusted figures “provides a useful perspective on underlying business results and period-over-period changes.”

The items in question included a loss incurred from the remeasurement of pension plans, a goodwill impairment charge based on the continued losses in the resource industries segment and a deferred tax allowance. Those three items are explained in full in the company’s report on www.caterpillar.com.

Also, the company incurred restructuring costs of over $1 billion, stemming from reorganizing throughout its operations and around the world. In the past 18 months Caterpillar has cut its worldwide employment by more than 16,000 people and has closed or consolidated several facilities in order to save costs.

In 2016 alone the company saved $2.3 billion by taking those actions, it said.

The company added, however, that there will likely be more restructuring needed in 2017. But Amy Campbell, director of investor relations for Caterpillar, told reporters that company does not expect any more broad-based reductions in employees. She said the restructuring costs in 2017, expected to be about $500 million, mostly will be in closing or consolidating additional facilities.

The 2017 outlook calls for sales and revenues of about $37.5 billion with a profit of about $2.30 a share, including restructuring costs.

Campbell said the company is seeing positive signs, including an increase in orders and economic recovery in some countries where it does business, such as China. There are signs, she added, that the depressed mining industry may have bottomed.

“But we are remaining cautious in our outlook because there is still a lot of uncertainty in the global economy,” Campbell said.

Among the uncertainty, the company said, is how quickly any recovery in the resource industries may occur and affect sales. The same is true for the construction industry in North America and how Brexit will affect Europe.

Campbell said the election of Donald Trump as president did not affect the outlook for 2017 because the items he has said he will push for that would help Caterpillar would take at least into 2018 to have a meaningful effect. “We hope that corporate tax reform and infrastructure spending will happen,” she said.

Asked the company’s opinion about Trump’s decision to pull the United States out of the TransPacific Partnership trade project she said the company has and will continue to advocate for free trade. Noting that more than half of the sales of equipment made in East Peoria and Decatur is exported, Campbell said, “If it’s not TPP, what else is there? (Not being part of TPP) will have a big impact on farmers, as well.”

President Trump also has said he will renegotiate the North American Free Trade Agreement, commonly known as NAFTA, because he doesn’t believe the U.S. has been treated fairly in that pact affecting trade with Canada and Mexico. “I’m sure it can be improved, but NAFTA has been good for Caterpillar, its dealers and its customers. (Through reduced tariffs) we have saved quite a bit of money,” Campbell said.

Social media becoming college admissions concern

 In a recent survey conducted by The Social U, 79 percent of college admissions officers reported "quality of character" as an important component in the admissions process. As a result, 50 percent have checked applicants' social media.

Survey data reveals 57 percent of admissions officers discovered concerning online content when they reviewed a student's profiles. These offenses included violent symbols or expressions, evidence of prejudice, partying and drug or alcohol use, negative commentary about school, some degree of nudity and overuse of profanity.

"The likelihood of an admissions officer to review a student's social profiles increases when the applicant has a troublesome disciplinary record or when the applicant is seeking a scholarship, among other factors," said Julie Fisher, founder of The Social U. "While students may never know if their social media profiles are being reviewed, it is wise to take steps now to make sure their social media accounts reflect their character and academic commitment."

The Social U helps students ensure their social media profiles and related online content are optimized for college and graduate school admissions, as well as internships and employment. Using a cutting-edge technology suite, The Social U grades each of a student's social networks using a proprietary algorithm that scans for high-risk words, phrases and images. The Social U then provides students with a numerical calculation – their Social GPA™ – and a full set of tools to help students identify any posts that should be edited or deleted.

Students can secure their Social GPA for free.

About The Social U
The Social U was created by founder Julie Fisher to arm students, their families and schools with tools, insights and expertise to safeguard students' social profiles as they pursue college, scholarships, jobs and life opportunities. The mission of The Social U is to give students a competitive edge, using a proprietary software engine that reads and interprets online social media data and providing insights on perceptions created by that content to remedy problem areas before they may limit a student's academic and employment potential. For more information, visit thesocialu.com.

Chest Pain is always A Reason To Go To The ER

The recent and sudden deaths of several well-known celebrities from heart-related issues should focus everyone's attention on the dangers of heart disease and knowing the symptoms of a serious problem.

Chest pain can be caused by indigestion, which is usually minor or a heart attack, which can be life-threatening. It's important to take chest pain symptoms seriously and immediately call 9-1-1 or seek care in the nearest emergency department.  It could save your life or the life of a loved one.

"Patients should never diagnose themselves," said Becky Parker, MD, FACEP, president of the American College of Emergency Physicians. "Often it takes a team of medical experts and various tests to diagnose the specific causes of chest pain. If it's a heart problem, that delay in time can prove fatal."   

• About 610,000 people die of heart disease in the United States every year, according to the Centers for Disease Control.
• That's about 1 in every 4 deaths.
• It is the leading cause of death for both men and women.
• About 735,000 Americans have a heart attack every year. About two-thirds of those experience their first heart attack.
• The CDC reports that only 27 percent of people were aware of all major symptoms of a heart attack and knew to call 911 or seek emergency care.
• Almost half (47 percent) of sudden cardiac deaths occur outside a hospital. Many people with heart disease don't act on early warning signs.

The most common symptoms of a heart attack include:

• Uncomfortable pressure, fullness, squeezing, or pain in the center of the chest that lasts more than a few minutes, or goes away and comes back.
• Pain that spreads to the shoulders, neck, jaw, arms, or back.
• Chest discomfort associated with lightheadedness, fainting, sweating, nausea, or shortness of breath.

Heart Attack signs can differ between men and women. 

According to the American Heart Association, the most common symptoms in women include:

• Uncomfortable pressure, squeezing, fullness or pain in the center of your chest.  It lasts more than a few minutes, or goes away and comes back.
• Pain or discomfort in one or both arms, the back, neck, jaw or stomach.
• Shortness of breath with or without chest discomfort.
• Other signs such as breaking out in a cold sweat, nausea or lightheadedness. As with men, women's most common heart attack symptom is chest pain or discomfort. But women are somewhat more likely than men to experience some of the other common symptoms, particularly shortness of breath, nausea/vomiting and back or jaw pain.

Some less common warning signs of heart attack in both men and women that should be taken seriously, especially if they accompany any of the above symptoms include:

• Abnormal chest pain (angina), stomach, or abdominal pain.
• Nausea or dizziness.
• Shortness of breath and difficulty breathing.
• Unexplained anxiety, weakness, or fatigue.
• Palpitations, cold sweat, or paleness.

"Not all these signs occur in every attack. Sometimes they go away and return,” said Dr. Parker. "However in all cases, a person can help lower the chance of dying from a heart attack by recognizing symptoms and getting medical help immediately."

ACEP is the national medical specialty society representing emergency medicine. ACEP is committed to advancing emergency care through continuing education, research and public education.