One in five people named the X-ray machine, which was discovered in 1895 and revolutionized how doctors detect disease and injury, for having made the greatest impact on the past, present and future. It was followed in popularity by the discoveries of penicillin and the DNA double helix structure, the Apollo 10 capsule and the V2 rocket engine.

Katie Maggs, associate curator of medicine at the Science Museum, told CNN that she was "pleasantly surprised" with the results.

While it is indeed a good list, you'll understand if we're dubious about choosing the most important scientific invention from a top 10 list that doesn't include 2007's beer-launching fridge.

Halloween Characters Bosses are Most Like
Nearly one-in-five (18 percent) workers describe their workplace as scary, according to CareerBuilder.com last week.

Based on responses from more than 4,000 workers, CareerBuilder found that some workers think their workplace is scary because their bosses bear a strong resemblance to famous Halloween characters. The following are the top five characters respondents said best reflect their boss's behavior:

• Glenda the Good Witch — liked and respected by all;
• The Wolf Man — fine one minute, howling the next;
• The Invisible Man — never around;
• Casper the Friendly Ghost — eager to help, but often misunderstood; and
• Dracula — constantly sucking the life right out of you.

Other characters include the Mummy ("slow-moving and has an ancient thought process") and the Grim Reaper ("constantly delivers bad news and inspires fear among workers").

When asked what the scariest part of their job was, workers reported these fear-inducing activities: workload (18 percent), performance reviews (9 percent), tight deadlines (9 percent), hours worked (8 percent), their boss or supervisor (7 percent) and sitting through meetings (6 percent).

New Solution to U.S. Car Woes
The Onion "reports" on Ford Motor Co.'s recently announced "car for the modern age," the solution to America's car woes: the 1993 Taurus.

Ford Unveils New Car For Cash-Strapped Buyers: The 1993 Taurus

Ford, which in real life has avoided government aid and bankruptcy, this week reported swinging to a third-quarter profit of $997 million after a loss of $161 million a year ago. Pre-tax operating profit totaled $1.1 billion — an improvement of $3.9 billion from a year ago and the automaker's first pre-tax operating profit since the first quarter of 2008.

U.S. October sales for the Detroit automaker rose 2.6 percent to 132,483 vehicles from the same month last year. Its new Taurus sedan saw October sales surge to 6,076 cars from 2,517 last year.

Does Your Beer Preference Reflect Your Personality?
Mindset Media, a market research firm specializing in "psychographics," interviewed more than 2,600 people this summer and found specific personalities and mindsets that corresponded to more than half a dozen branded beer choices.

This week, an AdAge piece based on Mindset Media's marketing study shared some of the company's thought-provoking (or just provoking) findings.

Some examples:

Drinkers of Budweiser are "sensible, grounded and practical" and "don't like authority." These beer drinkers are 42 percent "more likely to drive a truck" than the average Joe and 42 percent "more likely to use breath-freshening strips every day."

Corona and Corona Light drinkers are "busy and energetic people who are also extremely extroverted." These beer drinkers "seek out the company of others" and "care deeply about other people." Corona drinkers are 91 percent "more likely than average to buy recycled products" and 38 percent "more likely to own three or more flat-screen TVs."

Heineken drinkers are apparently "posers" and full of themselves, Blue Moon drinkers are "liberal" and unconventional, and drinkers of craft beers (lumped into one category) are "more likely to spend time thinking about beer rather than work."

Perhaps more interesting than the article were the reader comments below the post. Boy, were the responses vitriolic (though less hostile than those posted to a Motley Fool article on Ayn Rand this week). The study (or coverage of the study) was referred to by readers as "hogwash," "meaningless generalizations," "lazy," "craptastic" and sounding "like a horoscope."

Apparently, beer drinkers are pretty sensitive about being labeled based on their preferred brand.

John Durant, Mindset Media's director of research, reminds readers that "the study we ran does not say all individuals in a group [...] are the same."

Of course, if you're an abstainer and are grouped with people who "don't like to loosen up very much," you may take it a bit personally, too.

What say you, IMT readers? Do any of these personality traits line up with your beer of choice?

Cheers.

In yesterday's The Job Hunt, Pt. I: Preparation, we discussed preparation tips and resources for people considering a new job. If you have assessed your situation and decided to take the next step in your career, consider the following job-hunting suggestions and resources gathered from IMT's archives.

Work Your Network.
Online social networking sites like Facebook and business-oriented LinkedIn can help further your job search, but don't forget the importance of face-to-face networking. Trade associations and professional networking groups can expand your influence and gain you invaluable resources for advancing your career. See How Professional Groups Can Boost Your Career

Recruiters and hiring managers often seek talent at trade shows, industry meetings, conferences and other professional group events. Job seekers benefit from on-the-spot interviews at job fairs, but they also face plenty of competition, so know how to make a strong and lasting impression. See Be More Than a Face in the Crowd

Are you a mentor or mentee? Tap into that relationship, too. See Why Mentoring Matters

Perfect Your Documents.
A résumé not only offers a direct statement of a candidate's skills, experience and career trajectory, but also represents an applicant's professionalism and showcases commitment. Yet the tiny window of opportunity granted each résumé means the language, format and conciseness have to be as close to flawless as possible. Crafting a well-worded, polished and engaging résumé increases the odds of getting your foot in the door and, hopefully, securing the desired job. See Perfect Your Résumé

Sending out an effective and memorable cover letter to prospective employers can be crucial for landing a position, as it is usually the first (and sometimes last) opportunity to leave a good impression on employers. It serves as both an introduction and a self-advertisement, explaining to hiring managers how a candidate fits their needs aside from the credentials listed on a résumé. Ensure you create and present a memorable cover letter. See How to Craft an Effective Cover Letter

Nail Your Interview.
A successful résumé and cover letter normally leads to an interview, where a candidate's personality and ability to explain his or her qualifications may overcome some of the hurdles to employment. During the hiring process, the job interview is perhaps the best opportunity for both the employer and the prospective employee to assess how well the applicant's background, skills and experience will fit into the culture and operations of an organization.

Showing up to the interview prepared, presenting yourself professionally and being confident can help you overcome your interview anxiety and avoid common interview mistakes, such as those stemming from tricky or loaded interview questions. See Interview Mistakes on Both Sides of the Table and "What is Your Biggest Weakness?" and other Tricky Job Interview Questions

Stay Positive and Assess Progress.
From beginning to end, the job hunt can be a slow-moving, often maddening, process that tests your patience and endurance. Roughly one in six Americans is unemployed or underemployed, representing further competition for positions. Don't let the rejection or seemingly endless silence of employers you've reached out to for a job leave you feeling defeated. Stay positive and stick to your plan.

Researchers at the University of Missouri recently studied the efforts of 327 job seekers, ages 20 to 40, and found that developing and following a plan at the start of the job search, and having positive emotions later in the job search had a significant impact on success.

Based on the study findings, Daniel Turban, professor and chair of the Department of Management in the MU Robert J. Trulaske, Sr. College of Business, suggests job seekers make a plan and continuously assess their progress. "It also is important to expect rejections and develop a coping strategy ahead of time," as this should "help maintain positive emotions throughout the process to improve those chances of getting a job," according to Turban.

Should you decide it's time to find a new job (or a more satisfying one) and begin the job-search process, use good judgment, don't procrastinate and don't waste time, stay positive and don't go crazy in the process.

We've only scratched the surface, and now we turn it over to you. What job-hunting tips would you like to share?

Additional Resource

MU Researchers Find Planning, Positivism Influence Employment Success at Different Stages
University of Missouri, Sept. 23, 2009

If you're one of the many people considering a new job, start developing your strategy for taking the next step in your career. When it comes to finding work, consider the following preparation tips and resources gathered from IMT's archives. (Tomorrow we will publish Pt. II in the Job Hunt series, which will provide post-preparation tips and resources for finding a new job.)

Assess Your Situation.
For recent college graduates trying to enter the workforce for the first time, it is important to understand that focused effort, job-hunting skills, persistence and resilience will overcome any obstacles to the job search, even in today's competitive employment market. See Career Advice for the Class of 2009

If job-searching while employed, ask yourself whether you need a break or if it is really is time to search for greener pastures. See Overworked or Burned Out?

Is it possible to find a more satisfying job role with your current employer? See Changing Jobs, Not Employers

Evaluate Your Skills.
Whether you want to switch jobs or shift careers, you must develop a strong understanding of yourself. See Breaking Down the Door

Many employers are looking for workers who have very specific personal attributes, so inventory your strengths and weaknesses. See The Road to Success for Wallflowers

Consider diversifying your job skills through additional education and training. See Top Schools and Scholarships for Industry Sciences and Alternatives to Employer-Based Training

Know the Labor Market.
Which cities and regions have the best job prospects? What is the state of your industry in other locations? Where is there demand for the type of work you do (or want to do)? See Employment Outlook for Second-Half 2009 and Global Jobs Outlook: Cautious Hiring Despite "Talent Shortage"

As more people look for work among fewer available positions, you may want to expand your search by considering relocation. See The Long-Distance Job Hunt

Know Your Value.
Evaluate your previous year's performance, then make sure to look ahead toward the future and establish new goals and a timetable for accomplishing them over the next performance period. See Tips for your Annual Performance Review

Monetarily speaking, know your worth. Compare the salary you want to the salary at your most recent position, and research the industry-average salary in your field to have a better idea of the compensation you can expect. Factor in not only your education, skills and achievements, but also what the market is able to pay for your position. See 2009 Supply Management Salaries, How to Get a Raise and How Our Compensation Changes in an Uncertain Economy

Understand How Others View You.
The annual performance review is a valuable tool for career growth because it provides the opportunity to identify your personal strengths and weaknesses (according to management) and the chance to reassess your own goals. See Tips for your Annual Performance Review

A bad reference can torch a job prospect. Job seekers should try to line up outstanding references, who aren't necessarily the contacts with the most impressive job titles but those who can speak persuasively about your merits. See Seal the Deal with References

Be smart about what personal information you make freely available online. Most recruiters and hiring managers these days can do basic research on job candidates by simply typing applicants' names into Google to see if unsavory personal activity or incriminating information is online. To determine how your colleagues or potential employers view you on the Web, take the time to do a quick Google search. What pops up can either make or break your online reputation. See Tips for Protecting your Online Image

For tips on getting hired, see Pt. II in the Job Hunt series, coming tomorrow.

Yet few are celebrating, as jobs losses continue to accumulate on a weekly and monthly basis, bringing the national unemployment rate closer to 10 percent. Lingering instability and unexpected fluctuations in job losses make it difficult to forecast when hiring will resume, but some sources claim conditions will get even worse before they get better.

According to the latest weekly claims report from the U.S. Department of Labor, seasonally adjusted new initial claims for unemployment came to 530,000 for the week ending October 24, a decrease of 1,000 from the previous week's total, but 10,000 claims higher than the week ending October 10 and 45,000 more than in the same period last year.

The unemployment rate rose in 23 states in September, bringing the national rate to a 26-year high of 9.8 percent, and elevating concerns that the next monthly unemployment report (expected this Friday) will push the rate above 10 percent.

"The tepid pace of recovery, combined with productivity increases that make it possible for businesses to handle more demand with fewer employees, is a big reason why firms have continued to shed employees even as the recession abates," the Wall Street Journal reports (subscription required).

Despite increased productivity, compensation growth remains sluggish. According to the Labor Department's latest Employment Cost Index report, compensation costs for civilian workers increased 1.5 percent over the 12 months ending in September 2009, down from the 3.1 percent increase from the preceding 12-month period.

Among private industry workers, compensation growth, including wages, salaries and benefits, remained largely static over the 12 months ending this September, showing the smallest percentage change since the data series began in 1980.

"Workers in general don't have a lot of bargaining power and businesses, in a high-unemployment environment, are using less overtime and in some cases part time [to contain costs]. For those who are getting wage increases, companies are skimming them down," Stuart Hoffman, chief economist at PNC Financial Services Group, recently told Bloomberg News.

Many of the difficult employment conditions stem from challenges facing small businesses, which traditionally drive new job growth in the U.S. Much of the country's economic recovery and job creation hinge on banks taking more risk and restoring the flow of credit to businesses. In addition to lingering concerns about the direction of the overall state of the economy and the difficulty of obtaining credit in the current environment, small-business owners are delaying hiring due to uncertainty regarding health-care reform plans under review in Congress.

"The economic contraction is of course the prime force driving companies to lay off workers. But a health-care overhaul grinding through Congress could bring unknown new obligations to insure employees," the Journal notes in a separate report.

But not all employment indicators are negative, and certain signs point to possible stabilization in the job market in the coming future.

According to an October survey of manufacturing CFOs conducted by Grant Thornton LLP, "only 22 percent expect to reduce headcount over the next six months, a vast improvement over the nearly 47 percent in the earlier study that indicted they were reducing headcount."

Similarly, a survey from the National Association for Business Economics released last month found that the percentage of firms expecting to add new jobs rose from 6 percent in July to 12 percent in October, while the percentage of firms cutting their payrolls fell from 36 percent to 31 percent over the same period.

On NBC's Meet the Press on Sunday, Treasury Secretary Timothy Geithner said economists think the country will "start to see net jobs created at the beginning of the year," adding that the U.S. economy could see jobs added "in the first quarter some time." (Source: Agence France-Presse)

For the large number of unemployed workers in the U.S., Congress is introducing a proposal to extend unemployment aid an additional 14 weeks for those who have exhausted their benefits, while those who are out of work in states with an unemployment rate above 8.5 percent would gain up to 20 additional weeks, the New York Times' government blog The Caucus reports.

"Acting on a proposal that has been sought by business leaders, the Senate plan would also allow businesses to offset profits in the last five years with current losses, possibly reducing the tax liability of companies and freeing up some capital," the Times says.

Despite government efforts to stabilize the job market, most analysts expect that employment conditions will remain challenging in the near future. While new hiring is expected to lag initially, once businesses start to make profits again and invest again, rehiring will follow.

See also

U.S. Employment Prospects Remain Mixed

Most Economists Claim Recession Has Ended

Administration Focuses on Aiding Small Businesses

Resources

Unemployment Insurance Weekly Claims Report
U.S. Department of Labor, Oct. 29, 2009

Economy Snaps Long Slump
by Conor Dougherty
The Wall Street Journal, Oct. 30, 2009

Employment Cost Index — September 2009
U.S. Department of Labor, Oct. 30, 2009

U.S. Third-Quarter Labor Costs Rise 0.4% as Wage Growth Stalls
by Courtney Schlisserman
Bloomberg.com, Oct. 30, 2009

Political Uncertainty Puts Freeze on Small Businesses
by Gary Fields
The Wall Street Journal, Oct. 28, 2009

...One-Third of Manufacturing CFOs Predict Recession Won't End Until Second Half of 2010
Grant Thornton LLP, Oct. 20, 2009

...Pickup in Hiring and Capital Spending Planned over Next Six Months
National Association for Business Economics, Oct. 26, 2009

Employment Turnaround Likely at Start of 2010: Geithner
Agence France-Presse, Nov. 1, 2009

Senate Takes Up Unemployment, Aid for Home Buyers
by Carl Hulse
The Caucus (The New York Times), Nov. 2, 2009

Real gross domestic product (GDP), which reflects the total output of goods and services produced nationwide, rose at an annual rate of 3.5 percent in the third quarter, according to the U.S. Department of Commerce on Thursday. The boost in GDP was the first since Q2 2008 and marked the strongest gain since the third quarter of 2007.

The Commerce Department attributed much of the gain to an increase in consumer spending, which added 2.36 percentage points to the increase, while exports accounted for 1.5 percent and sales of motor vehicles and parts constituted 1 percent.

"Thursday's report on GDP... frames an economy that has started to emerge from the recession. The housing market is at or near a bottom, economists say, and metrics from manufacturing output to consumer spending have recovered from the deepest levels of the downturn," the Wall Street Journal reports (subscription required).

Despite the positive signs, concerns remain over a weakened job market and significantly elevated unemployment. According to the Journal, expectations of slow growth in demand coupled with increased productivity make it unlikely that new hiring will occur on a large-scale in the near future. (More on the nation's unemployment situation tomorrow.)

"Employers need to be convinced the economic recovery is here to stay," the Chicago Tribune says. "And even if they clear that psychological hurdle, their first move will be expanding hours for existing workers rather than hiring new ones."

Manufacturing Activity: New Orders Pick Up
New orders for manufactured durable goods increased 1 percent in September, reaching $165.7 billion, the U.S. Census Bureau announced last week. This was the second increase in the last three months, following a 2.6 percent drop in August.

Machinery sales, up five of the last six months, had the largest increase in September. New machinery orders rose 7.9 percent, reaching $23.4 billion.

"Machinery demand rose by nearly 8 percent during September. But this only compensates for weak machinery activity during the past two months while demand remains nearly 30 percent below year-ago levels," Cliff Waldman, economist for the Manufacturers Alliance/MAPI, said in an analysis of the government report.

"Further, activity was nearly flat in the primary and fabricated metals sectors, which should, at this point, be showing more convincing strength if a normal factory sector recovery were in progress," Waldman added. "Encouragingly, new orders for non-defense capital goods excluding aircraft, a proxy for business equipment spending, rose by a sharp 2 percent but only after two months of decline. Clearly, the more than 7 percent annualized gain in manufacturing output during the third quarter was driven by a leveling in what has been a rapid inventory liquidation, an output catalyst that will likely continue through the end of the year."

The continuing strength of new orders appears to be helping drive production in the manufacturing sector, which grew for the third consecutive month in October, according to the Institute for Supply Management (ISM) today. The latest ISM index of new orders registered 58.5 percent in October, marking the fourth consecutive month of growth in new orders. At 55.7 percent, the rate of overall manufacturing growth is the highest since April 2006, when the ISM's purchasing managers index (PMI) registered 56 percent.

In the latest edition of the PricewaterhouseCoopers LLP Manufacturing Barometer, released last week, 57 percent of U.S.-based industrial manufacturers said they expect positive growth over the next 12 months, with 12 percent predicting double-digit growth and 45 percent expecting single-digit growth.

Consumer Confidence Drops
The Conference Board's latest Consumer Confidence Index points to continued declines in October, the second consecutive month of contracting consumer confidence. The Index, reported last week, fell to 47.7 from 53.4 in September, indicating public worry over the sustained strength of the economic recovery.

Consumers' perceptions of current economic conditions worsened from the previous month. The number of respondents claiming conditions are "bad" rose from 46.3 to 47.1 percent, while those who believe conditions are "good" fell from 8.6 percent to 7.7 percent, the report found.

Consumer assessments of the job market were similarly down. Those claiming jobs are currently "hard to get" rose from 47 percent to 49.6 percent, while those claiming jobs are "plentiful" fell from 3.6 percent to 3.4 percent.

"Consumers' assessment of present-day conditions has grown less favorable, with labor market conditions playing a major role in this grimmer assessment," Lynn Franco, director of The Conference Board Consumer Research Center, said in an announcement of the findings.

"The short-term outlook has also grown more negative, as a greater proportion of consumers anticipate business and labor market conditions will worsen in the months ahead. Consumers also remain quite pessimistic about their future earnings, a sentiment that will likely constrain spending during the holidays," Franco added.

House Unveils Health Care Bill
On Thursday, the House of Representatives introduced the Affordable Health Care for America Act, a $1.055 trillion health-care package that would provide insurance to up to 36 million Americans. The bill, H.R. 3962, would broadly expand Medicaid, the state-federal insurance program for the poor, and offer subsidies to moderate-income Americans to buy insurance either from private carriers or a new government-run plan, the New York Times reported last week.

According to a preliminary analysis of H.R. 3962, issued by the Congressional Budget Office (CBO) and the Joint Committee on Taxation (JCT), the Affordable Health Care for America Act would:

• Establish a mandate for most legal residents of the United States to obtain health insurance;
• Set up insurance "exchanges" through which certain individuals and families could receive federal subsidies to substantially reduce the cost of purchasing that coverage;
• Significantly expand eligibility for Medicaid;
• Substantially reduce the growth of Medicare's payment rates for most services (relative to the growth rates projected under current law);
• Impose an income tax surcharge on high-income individuals; and
• Make various other changes to the federal tax code, Medicaid, Medicare and other programs.

H.R. 3962 is similar in size and scope to a bill taking shape in the Senate, however "a major point of contention between the House and the Senate is how to pay for the new coverage, to be provided by expanding eligibility for Medicaid and by subsidizing insurance for low- and middle-income people," according to a separate New York Times report. "The Senate bill would impose an excise tax on high-premium insurance policies provided by employers. The House bill would impose a surtax on high-income people — couples with adjusted gross incomes over $1 million a year and individuals over $500,000."

The CBO and the JCT estimate the bill will reduce the national deficit by at least $100 billion over 10 years.

The bill — a combination of three versions passed by House committees — will cost $894 billion over 10 years to extend insurance coverage to 36 million uninsured Americans, according to House Speaker Nancy Pelosi. However, the bill's total cost is $1.055 trillion, which is the gross cost of the insurance coverage provisions in the bill before taking account of certain new revenues, including penalties by individuals and employers who fail to meet new insurance requirements in the bill.

The bill guarantees that 96 percent of Americans have coverage, Pelosi said. The budget office said 18 million people, one-third of them illegal immigrants, would still be uninsured by 2019.

Additional (government) information on the bill: Short Summary of the Bill | Detailed Summary of the Bill (UPDATED 11/2)

According to Boston Dynamics, the robot, known as PETMAN, is intended for military applications and "will balance itself and move freely; walking, crawling and doing a variety of suit-stressing calisthenics during exposure to chemical warfare agents." More frighteningly, "[t]he robot will have the shape and size of a standard human, making it the first anthropomorphic robot that moves dynamically like a real person."

But this isn't the first time that Boston Dynamics, which originated at the Massachusetts Institute of Technology (MIT), has scared observers with impressive mimicry of biological movements. One of the company's earlier designs, BigDog, is probably its most famous to-date, according to Fast Company, and is able to function as a semi-autonomous "robotic packhorse" for the military.

Here are clips of PETMAN and BigDog in action (watch for the kicks):

NASA Launches World's Tallest Rocket
This Wednesday, NASA successfully launched the new Ares I-X, a 327-foot (100-meter) spacecraft and the tallest rocket in the world, in a test flight to develop potential replacements for the aging fleet of space shuttles, Agence France-Presse reports.

The $445-million launch was the first time in 30 years that anything other than a shuttle took off from the Kennedy Space Center. After climbing to an altitude of 130,000 feet, the launch vehicle detached from its boosters, while the 700 sensors attached to the rocket should help engineers determine how its design characteristics perform under flight conditions, according to AFP.

"The flight test is expected to provide NASA with an enormous amount of data that will be used to improve the design and safety of the next generation of American spaceflight vehicles, which could again take humans beyond low Earth orbit," NASA said in a mission announcement.

Although the rocket is an unmanned prototype, future versions will have astronauts riding in a crew capsule attached to the top. The Ares I-X is part of an initiative to bring back manned flights to the moon and farther into space, perhaps eventually to Mars, InformationWeek reports.

"Whatever" Voted Most Annoying Word
Everyone has a type of word or phrase they find particularly irritating, whether buzzwords or business jargon, but some linguistic quirks are so pervasive they become disliked on a national scale.

According to an October poll from the Marist Institute for Public Opinion, "whatever" has become the most annoying word in the United States, with 47 percent of Americans claiming it is the most irritating word they encounter when communicating with others.

By comparison, 25 percent of respondents said they consider "you know" the most annoying term, 11 percent voted for "it is what it is," 7 percent claimed "anyway" was the most irritating and 2 percent said "at the end of the day" is their most disliked phrase.

Interestingly, the survey also found that linguistic pet peeves vary on a regional basis, with 55 percent of Midwesterners disliking "whatever" versus 35 percent of people in the Northeast. On the other hand, "you know" was considered more irritating in the Northeast (32 percent) than in the Midwest (19 percent).

Halloween is Big Business
Each year, Halloween provides an October boost in consumer spending, as millions of Americans purchase decorations, candy, party supplies and costumes. Although the economic downturn has affected Halloween spending this year, the holiday remains a major revenue opportunity for many businesses.

According to a report released last month by the National Retail Federation, consumers are expected to spend an average of $56.31 on Halloween shopping this year, down from $66.54 last year but still amounting to a projected total of $4.75 billion.

"The economy has caught up to Halloween this year," Tracy Mullin, the president and CEO of the National Retail Federation, said in an announcement of the findings. "Since retailers know that Americans will be looking to celebrate on a budget, there's no doubt we will see creative costume and decorating ideas in every price point imaginable."

The survey found that consumers plan to spend an average of $20.75 on costumes, $17.99 on candy, $14.54 on decorations and $3.02 on greeting cards. Haunted houses have also become big business, with the haunted attractions industry valued at $1 billion and taking in $500 million each year in ticket sales alone, Inc.com reports.

The Nanotechnology Musical
Not many people associate nanotechnology with children's musicals, but one group of students from UC Berkeley has made a catchy and entertaining video involving nanotube puppets, monsters and some great singing, Wired.com's Wired Science blog reports.

The musical is intended to raise interest in nanotechnology outside of the academic community, and was recently entered into a contest sponsored by the American Chemical Society.

Here's the charming little musical, puppets included:

Have a Happy Halloween, folks!

According to Reuters, some individuals may see their pay package reduced by up to 90 percent. Incentives or bonuses must be paid in long-term restricted company stock. The rulings also limit corporate perks; personal expenses for executives are capped at $25,000 per year, with limited exceptions that can be justified to and approved by the Treasury.

Meanwhile, the Federal Reserve on the same day issued a sweeping proposal designed to get banks to remove incentive compensation packages that might put institutions at risk. The proposed rules, still in provisional form and subject to comment for 30 days, are part of an effort to toughen supervision to avoid a recurrence of the near-meltdown of the financial system last year.

The government's move "is a seismic shift," Espen Eckbo, director of the Center for Corporate Governance at Dartmouth College's Tuck School of Business, told the Wall Street Journal (subscription required).

The Obama administration and a number of analysts believe skewed compensation incentives played a key role in the run-up to the financial crisis.

"Compensation practices at some banking organizations have led to misaligned incentives and excessive risk-taking, contributing to bank losses and financial instability," Federal Reserve Chairman Ben Bernanke said.

In addition to capping pay at firms that still owe the government and taxpayers money, the Treasury Department is pushing some corporate-governance reforms onto firms that received exceptional Troubled Asset Relief Program (TARP) assistance. These reforms include "a forced separation of the positions of chief executive and chairman of the board," the Christian Science Monitor reports.

The Fed proposal does not enforce hard pay caps. Instead, regulators will review compensation programs to ensure rewards are for long-term performance rather than short-term gains. When appropriate, the Fed could take "enforcement action to ensure that material deficiencies that pose a threat to the safety and soundness of the organization are promptly addressed."

After the furor over AIG bonuses in March, it's no surprise that many Americans remain outraged at some of the large Wall Street incentives still in place despite the current financial crisis.

From 2006 through 2008, the top five executives at the 20 banks that accepted the most federal bailout funding averaged $32 million each in personal compensation, according to the recently released 2009 Executive Excess report from the progressive Institute for Policy Studies.

"Long before the current financial crisis, executive compensation was generating debate and controversy, with many in the investment community and the general public viewing executive pay as too generous, insufficiently related to performance and too often rewarding short-sighted behavior," according to a new report on executive pay from The Conference Board Task Force on Executive Compensation.

The usual argument for huge salaries and bonuses is that they are necessary to keep top talent. This may be partly true, but are today's executives really hundreds of times more capable than average workers?

"A generation ago, typical big-time corporate CEOs seldom made more than 30 or 40 times what their workers took home. In 2008, the IPS report shows, top executives averaged 319 times more than average U.S. worker pay," the IPS said in an announcement of the report.

Much of the debate over executive pay reform has revolved around questions of corporate governance, such as the role of shareholders.

"Shareholders of American companies and the public deserve to see executive compensation programs that serve shareholders' interests and are explained to shareholders in thoughtful dialogue," Robert E. Denham and Rajiv L. Gupta, co-chairs of The Conference Board Task Force on Executive Compensation, recently said in a statement.

The task force last month issued its report and recommendations that set forth "guiding principles" for corporate institutions to restore credibility and increase trust in pay practices and oversight.

The "guiding principles" state that public companies should do the following:

• Establish a clear link between pay, strategy and performance;
• Provide compensation that is fair, affordable and clearly aligned with actual performance;
• Eliminate controversial compensation practices that conflict with the notions of fairness and pay for performance — such as excessive golden parachutes, overly generous severance arrangements, gross-ups of parachute payments or perquisites and golden coffins — unless specific justification exists;
• Demonstrate credible board oversight of executive compensation; and
• Foster transparency in compensation practices and appropriate dialogue between boards and shareholders.

Do you think the provisions announced last week will be enough to curtail excess compensation? Are the measures too stringent? Let us know in the comments section below.

Related

Are Executive Pay Caps the Solution?

Pitchfork Friday: Executive Bonuses at Failed Firms? Cue the Public Outrage

The Party is Over. But Not Really

Scandal, Ego and Inflated Self-Worth Deserve Big Bucks

Your Pay vs. Your Boss's

Resources

The Special Master for TARP Executive Compensation Issues First Rulings
U.S. Department of the Treasury, Oct. 22, 2009

Factbox: Details of Pay Czar Rulings on Bailout Firms
by David Lawder
Reuters, Oct. 22, 2009

Federal Reserve Issues Proposed Guidance on Incentive Compensation
U.S. Federal Reserve, Oct. 22, 2009

Proposed Guidance on Sound Incentive Compensation Policies
Board of Governors of the Federal Reserve System, Oct. 27, 2009

Pay Czar Moves Represent 'Seismic Shift' (subscription required)
by Joann S. Lublin and Louise Radnofsky
The Wall Street Journal, Oct. 21, 2009

Executive Compensation Determinations for Top TARP Recipients
U.S. Department of the Treasury, Oct. 22, 2009

Wall Street Pay Cuts Ordered by Treasury
by Peter Grier
The Christian Science Monitor, Oct. 22, 2009

America's Bailout Barons
by Sarah Anderson, John Cavanagh, Chuck Collins and Sam Pizzigati
Institute for Policy Studies, Sept. 2, 2009

Executive Excess: America's Bailout Baron (PDF file)
by Sarah Anderson, John Cavanagh, Chuck Collins and Sam Pizzigati
Institute for Policy Studies, Sept. 2, 2009

The Conference Board Task Force on Executive Compensation
The Conference Board, Sept. 21, 2009

...Task Force on Executive Compensation Recommends Corporate Practice Reforms
The Conference Board, Sept. 21, 2009

According to the NAM/IndustryWeek Manufacturing Index — 3rd Quarter 2009, published by the National Association of Manufacturers and IndustryWeek, 70 percent of manufacturers felt optimistic about the future at the start of the economic recession in 2007, but confidence dropped to a low of 28 percent by Q1 2009.

With the economic recovery underway, optimism has since rebounded, with 55 percent of survey respondents reporting a positive outlook in the third quarter of the year, the highest level in six quarters.

The biggest gain was in the percentage of respondents who claimed the business outlook is "somewhat positive," which rose from 25 percent in the first quarter to 49 percent in the third, while those who have a "very positive" outlook climbed from 3 percent to 5 percent. Those who said conditions are "somewhat negative" fell from 43 percent to 35 percent and those who cited "very negative" dropped from 29 percent to 10 percent of the total.

Based on a poll of 403 NAM members, the survey also found that, despite improving confidence, 65 percent of respondents believe the downturn in their company's production would extend into 2010, while 16 percent believe production has already begun to rebound. Seven percent expect the downturn to end in the fourth quarter of 2009 and 5 percent stated that production levels have remained healthy.

The forecast echos the PricewaterhouseCoopers LLP Manufacturing Barometer released in August, which reported that 63 percent of manufacturing executives believed the U.S. economy was still weakening, but the overall perspective for the majority of respondents was optimistic through the second quarter of 2010, with pessimism on the decline.

Last month, U.S. industrial output posted its first quarterly increase since early 2008, while the manufacturing sector posted its third consecutive month of production gains, helping drive the largest single-quarter improvement in industrial production since Q1 2005.

In their forecast for the next 12 months, respondents to the NAM/IndustryWeek survey said they expect sales to increase by an average of 1.6 percent, the first positive prediction in a year. The projected upturn is expected to be modest, with most respondents citing "somewhat positive" expectations and very few reporting "very positive" expectations.

The Manufacturers Alliance/MAPI Survey on the Business Outlook in September showed similar results: the annual orders index, which is based on expected orders for 2010 compared to new orders in 2009, rose to 66 percent.

The NAM/IndustryWeek report found that respondents expect their product prices to increase 0.4 percent over the next year, an improvement over the previous two consecutive quarters of expected deflation, while capital spending was forecast to rise by 0.2 percent over the same period. Manufacturers also plan to continue cutting inventory levels, predicting an overall decrease of 1.5 percent in stockpiles over the next year.

With continued instability in the job market and rising concerns over a jobless recovery, survey respondents expect employment conditions to remain largely unchanged for the next 12 months, with a hiring increase of only 0.1 percent. For similar reasons, wage growth is expected to decline by 0.3 percent in the next 12 months.

Optimism appears to be on the rise, and manufacturers have more positive expectations for business conditions in the future, but the majority perspective is that the recovery will be slow and gradual.

Earlier

Industrial Output Makes Largest Quarterly Gain in Four Years

Manufacturers' Pessimism over Economy Declines

U.S. Employment Prospects Remain Mixed

Weekly Industry Crib Sheet: Administration Focuses on Aiding Small Businesses

Resources

The NAM/IndustryWeek Manufacturing Index — 3rd Quarter 2009
by David Huether
National Association of Manufacturers and IndustryWeek, 2009

The NAM/IndustryWeek Manufacturing Index — 1st Quarter 2009
by David Huether
National Association of Manufacturers and IndustryWeek, 2009

Manufacturing Barometer: Business Outlook Report, Second Quarter 2009
PricewaterhouseCoopers LLP, Aug. 7, 2009

MAPI Survey on the Business Outlook: Improvement on Horizon for Industrial Sector
Manufacturers Alliance/MAPI, Oct. 15, 2009

Results of the buying consortium's GO survey reveal that inflation is also a concern for small and midsized manufacturers, with 90 percent saying that they have seen or expect to see rising prices on raw materials over the next six months. In addition, 57 percent indicated the same expectation for energy costs and 56 percent indicated the same concern for the cost of components.

The following is a breakdown of the basic outlook for energy costs, raw materials prices and materials-handling equipment investments.

Energy Costs
Energy prices remain volatile, reflecting uncertainty in the market. Crude energy materials decreased 5.4 percent last month, and 5.1 percent from June to September, according to the U.S. Bureau of Labor Statistics' (BLS) latest producer price data.

In its Short-Term Energy and Winter Fuels Outlook, released this month, the U.S. Energy Information Administration (EIA) forecasts average West Texas Intermediate crude oil prices will rise to about $75 per barrel by December 2010 — from $70 per barrel this winter and $51 last winter — as U.S. and world economic conditions improve (assuming U.S. gross domestic product grows by 1.8 percent in 2010 and world oil-consumption-weighted GDP grows by 2.6 percent).

Weak economic conditions continue to hamper the industrial sector, where the most recent data show natural gas consumption is down by 12.4 percent through July compared with the same period last year. Natural gas inventories are expected to reach a record high by the end of this month, and the Henry Hub annual average spot price is projected to increase from $3.85 per thousand cubic feet this year to $5.02 in 2010. The EIA expects total U.S. marketed natural gas production will increase by 1.5 percent in 2009 and decline by 3.8 percent in 2010. Natural gas consumption growth in the commercial and industrial sectors in 2010 is expected to be offset by a decline in the electric power sector.

The EIA projects 4 percent growth in 2010 for coal use in the retail and general industry sectors.

Raw Materials Prices
Although prices for intermediate materials (excluding food and energy) rose 0.9 percent in September, their fourth consecutive monthly increase, prices for crude materials fell 2.1 percent, according to the BLS. In the third quarter of 2009, crude material prices dropped 3 percent after rising 11.5 percent during the second quarter.

Earlier this month, buyers reported that raw materials prices are "starting to hold."

Reed Construction Data reported last week:

Prices are generally declining for materials priced in the depressed domestic market, but prices are generally rising for materials priced in international markets. Prices are declining slowly for manufactured and assembled equipment where factory cost are very significant to raw commodity cost. Prices are also declining for domestic market commodities, such as [...] cement, down 1.4% in September and softwood lumber, down 2.4% in September.

Enthusiasm about emerging markets, especially in China, drove prices for most raw materials in the first half of the year, while fears of a drawn-out global recession tempered the gains. Signs of a rebound in the global economy have boosted commodities. Copper has more than doubled this year as demand surged in China, whose ambitious infrastructure program and stimulus plan have created a large appetite for raw materials. China said it imported a record amount of iron ore last month. (Sources: Reuters and Business Day)

This rapid industrial growth in Chinese markets, as well as in India, continues to create demand for industrial and consumer chemicals of all types, despite the economic downturn. Purchasing magazine last month forecast that polymer prices "will rise across the board in 2010, but will not hit the levels of 2006 through 2008" and that "chemical and resin demand remain soft and supply remains plentiful." Howard Blum, senior associate at global consultancy Kline & Co., said in a separate Purchasing piece not to expect shortages of key polymers in 2010, as "a global surplus should provide sufficient supply until 2012."

The American Chemistry Council last week gave the U.S. chemical industry its most positive economic rating for the first time since February 2008. According to Plunkett Research estimates, the U.S. chemicals, coatings and plastics sectors combined will generate about $930 billion in revenues in 2009. The global chemicals industry will total about $3.5 trillion in 2009, or about 6 percent of global GDP.

Of course, "cautious optimism" remains the phrase du jour for materials.

While overall steel production and metals are gradually improving worldwide, the major indicators for business activity in the metals industry remain far below their pre-recession levels. Prices for steel soared to historic highs last year. After climbing for six years on higher demand, global steel output fell in late 2009. Many industrial metals more than halved in value by the start of 2009.

Recovery of steel and aluminum is set to be slow and fragile, but the prospect of increasing output and trade may signal a return to market stability in the near future. (See The Future of the Steel Sector)

In its quarterly production report, BHP Billiton last week warned that improvements in the world economy did not necessarily mean that real and sustainable demand for raw materials had returned. The miner, which sells 19 different commodities from iron ore to oil, noted that China, the driver of the rally in metals prices this year, has nearly replenished its commodity stocks as evident by higher-than-normal stockpiles, according to Financial Times analysis (subscription required).

While a return to growth in developed countries such as the U.S. could offset the effects of full Chinese stockpiles, this sequence of events should not be expected, BHP said.

Materials Handling and Logistics
In its 2009 State of the Market: Mid-Year Insights report, Aberdeen Group found that reducing the cost of materials and production was among the top strategies in organizations' 2009 agenda — "not surprising given the increased focus on sustainability and the year-long fluctuations in some raw materials and commodities prices."

At the fall meetings of the Material Handling Industry of America (MHIA), industry leaders discussed trends in the $156 billion material handling and logistics market.

Through the first half of 2009, orders for new equipment declined 44.9 percent over 2008, according to a report on the meetings' findings. A cyclical trough is expected in the last half of 2009, the MHIA report says, but "progress toward recovery is anticipated through 2010."

MHIA forecasts the decline of new orders will slow slightly in the last half of 2009 and hold the total year decline between 35 percent and 38 percent. MHIA expects a decline of another 5 percent to 10 percent next year before the industry returns to growth in 2011.

For a breakdown of trends, outlook and growth opportunities for each material handling market, including package-handling conveyors, industrial racks and automation, see MHIA's report highlights.

Earlier

The Raw Deal - Up, Up and Away

Mitigating the Chafe of Raw Materials Costs

Combating the Sky-High Price of Raw Materials

Materials Handling: The Big Picture

Resources

Prime Advantage Group Outlook Survey
Prime Advantage, Sept. 2, 2009

Short‐Term Energy and Winter Fuels Outlook
U.S. Energy Information Administration, Oct. 6, 2009

Buyers Say Higher Raw Materials Prices are Starting to Hold
Purchasing, Oct. 15, 2009

Producer Price Index - September 2009
U.S. Bureau of Labor Statistics, Oct. 20, 2009

Energy Price Cuts Drop September Construction Materials Price Index
by Jim Haughey
Reed Construction Data, Oct. 22, 2009

Commodities Sectors Go Their Own Way (subscription required)
by Carolyn Cui
The Wall Street Journal, Oct. 1, 2009

Copper, Iron Ore Lead China Commodity Imports Revival
Reuters, Oct. 14, 2009

Fresh Evidence of a Rebound in Demand for Raw Materials
by Eric Onstad
Business Day, Oct. 15, 2009

Polymer Prices Will Rise, But Not to 2008 Levels
by Paul Teague
Purchasing, Sept. 18, 2009

Kline: No Polymer Supply Shortage in 2010
by Joseph Chang
Purchasing, Sept. 18, 2009

Health of U.S. Chems Turns Positive for First Time Since Feb 2008
ICIS.com, Oct. 23, 2009

Chemicals, Coatings & Plastics Industry Overview
Plunkett Research, Ltd.

BHP Billiton Production Report for the Quarter Ended 30 September 2009
BHP Billiton, Oct. 21, 2009

BHP Warns about Sustainability of Demand for Raw Materials
by William MacNamara and Peter Smith
Financial Times, Oct. 22, 2009

2009 State of the Market: Mid-Year Insights
Aberdeen Group, July 2009

Industry Leaders Discuss Market Trends
Material Handling Industry of America, October 2009

MHIA Sees a Turnaround in Process for Material Handling and Logistics...
Material Handling Industry of America, Oct. 13, 2009

According to a forecast released in October from the World Steel Association (worldsteel), worldwide steel use is expected to decline 8.6 percent in 2009, dropping to 1,104 million metric tons, following a contraction of 1.4 percent in 2008. This estimate is an improvement from the initial prediction of a 14.1 percent decline in 2009, with figures boosted by strong steel demand in China.

After 2009, the report expects global steel demand to rebound, rising 9.2 percent in 2010. Developed economies, including the U.S., are expected to see 15 percent growth in steel demand in 2010, after contracting by 34 percent in 2009. Chinese demand is forecast to grow by 19 percent in 2009 and 5 percent in 2010, while other emerging economies will contract 17 percent in 2009 before rebounding by 12 percent in 2010.

"As before the financial crisis, the emerging economies, especially China, will be the critical factor in driving world steel demand in the near future," Daniel Novegil, chairman of the worldsteel Economics Committee, said in an announcement of the findings.

However, China's metal imports in 2009 may have exceeded actual demand by as much as 50 million tons, and such a surplus would severely cut down on the future demand rate while leaving no room for price rises, Reuters reports.

"China imported 405 million tonnes of iron ore in the first eight months of this year, up 32 percent from a year earlier, to feed its rapidly growing steel output," Reuters noted.

Without China's rapid rate of steel consumption, which is expected to reach 526 million tons in 2009 and account for 48 percent of the world's total, worldsteel estimates that global demand could decrease by 24 percent.

According to the (U.K.) Times Online, steelmakers "began to fire up blast furnaces last summer after shutting down plants at the end of 2008. The Chinese [g]overnment's huge financial stimulus mopped up much of the spare capacity and prices have begun to rise again."

If the effects of China's stimulus initiatives begin to wear off, there will be a significant setback to the stability of global demand in the coming year.

"While the state of the global economy has improved, uncertainties and concerns regarding the resilience of the recovery still remain with the possibility of any premature reduction in government stimulus actions," Novegil said. "This uncertainty particularly exists for the Chinese economy in 2010, whose fast recovery in 2009 was largely enabled by such strong government stimulus policies."

In its latest monthly activity report, the Metals Service Center Institute (MSCI) found that steel shipments from metals service centers in the U.S. increased to 2.56 million tons in September, a slight gain over the previous month, while steel inventories grew to 5.79 million, a 3 percent gain and the first increase since August 2008. Shipments were still down 31.4 percent from the same period last year, but the positive signs may indicate that contraction in the U.S. is bottoming out.

In terms of steel output, worldsteel's latest monthly crude steel production report released in September found that global production rose to 106.5 million tons in August, an increase from July's 103.5 million tons and the highest level since the beginning of 2009.

The report highlights that crude steel production has been steadily rising since April 2009, with the U.S. increasing its output to 5 million metric tons in July and 5.52 million metric tons in August. Despite the increases, these figures were still down 41.6 percent and 40 percent from July and August 2008, respectively.

By comparison, China produced 50.7 million metric tons in July, an increase of 12.6 percent over the same month the previous year, and 52.3 million metric tons in August, a 22 percent gain over the same month in 2008.

Some maintain that the boost from China will provide only temporary alleviation from the downturn, and that a full recovery will take several years.

"It is unlikely that the steel sector will reach the level it was at in 2007 before 2012," Wolfganag Lesse, the head of Salzigger, Germany's second-largest steel company, said in an October interview with Financial Times Deutschland, as reported by Agence France-Presse.

"At the moment," Lesse added, "we are experiencing only a small interim upturn, which in my opinion will only last until approximately the end of the year."

Earlier: Metals Industry Continues to Show Mixed Recovery Signs

Resources

worldsteel Short Range Outlook
World Steel Association, Oct. 12, 2009

China Iron Ore Imports 50 MLN T Over Demand —CISA
Reuters, Oct. 12, 2009

Steel Shipments, Inventories Inch Higher in U.S., Canada
Metals Service Center Institute, Oct. 16, 2009

Steel Industry Recovering After Chinese Stimulus
by Carl Mortishead
The Times Online, Oct. 13, 2009

August 2009 Crude Steel Production Report
World Steel Association, Sept. 21, 2009

July 2009 Crude Steel Production Report
World Steel Association, Aug. 20, 2009

No Rebound in Steel Sector Before 2012
Agence France-Presse, Oct. 8, 2009

In 2007, JOM, the journal of the Minerals, Metals and Materials Society (TMS), conducted a survey of more than 900 engineers to determine the 50 Greatest Moments in Materials Science and Engineering in an effort to raise awareness of the vast contributions materials science has made. The resulting entries, chosen by vote, span nearly 30,000 years of human history.

"We wanted to do something that would draw attention to the materials science and engineering community from the general public and that would generate lively discussion and debate within the materials community itself," James J. Robinson, editor of JOM, said in an announcement of the project.

Here are the top 10 historical materials moments from JOM's list:

1) The Periodic Table of Elements
Voted the number 1 materials innovation in history, Dmitri Mendeleev's Periodic Table of Elements was first compiled in 1894 and has long served as the standard, indispensible reference for scientists and engineers in countless fields.

2) Iron Smelting
The ancient Egyptians are credited with first smelting iron around 3500 B.C., using small amounts of the metal to create decorative or ceremonial items. This was one of the earliest methods of processing the world's most common metallurgical material.

3) Transistors
John Bardeen, Walter H. Brattain and William Shockley invented the transistor in 1948, producing one the key components found in nearly all modern electronics and laying the groundwork for computer and microchip technology.

4) Glass
Glass was originally developed circa 2200 B.C. in northwestern Iran, and is considered one of the most important (and ubiquitous) nonmetallic engineering materials today.

5) Optical Microscopy
Dutch scientist and inventor Anton von Leeuwenhoek developed optical microscopy in 1668, enabling objects to be magnified by over 200 times. This revolutionized the study of the natural world by allowing people to examine things beyond the normal capability of the human eye, and led Leeuwenhoek to discover bacteria, along with many other microscopic substances.

6) Modern Concrete
Although it had been used in much earlier forms by the Egyptians and Romans, John Smeaton was the first to develop the modern form of concrete in 1775. Also known as hydraulic cement, this type of concrete became the dominant construction material of the modern era.

7) Crucible Steelmaking
Metalworkers in southern India developed the crucible steelmaking process around 300 B.C., producing "wootz steel," a remarkably resilient and workable material. It was later known as Damascus steel and became highly sought-after around the world.

8) Copper Extraction and Casting
Around 5000 B.C., inhabitants in what is now Turkey discovered the process of extracting liquid copper from malachite and azurite, and casting the molten metal into various shapes, thus introducing the first instance of extractive metallurgy.

9) X-Ray Diffraction
Max von Laue developed the process of diffracting X-rays using crystals in 1912, creating a method for characterizing different crystal structures and establishing the field of diffraction science.

10) Bessemer Process
The Bessemer process is named for Henry Bessemer, who patented a method for melting low-carbon steel using a bottom-blown acid process in 1896. This method enabled the production of inexpensive steel in high quantities, which in turn fueled the growth of transportation networks, building construction and industrialization.

Disagree with the list or have a materials innovation you think belongs in the top 10? You can see the 50 greatest moments in materials science and engineering HERE.

Resources

The Top 50 Moments in History
JOM (The Minerals, Metals and Materials Society), 2007

Voting Underway for World's Greatest Materials Moments
The Minerals, Metals and Materials Society, Sept. 26, 2006

A Brief History of the Development of the Periodic Table
Western Oregon University, 1997

John Bardeen, William Shockley, Walter Brattain: Invention of the Transistor - Bell Laboratories
by Alaina G. Levine
American Physical Society, 2008

Antony van Leeuwenhoek (1632-1723)
University of California Museum of Paleontology

Historical Timeline of Concrete
Auburn University

History of Concrete
ConcreteContractor.com

Crucible Steel
Absolute Astronomy

Max von Laue - The Nobel Prize in Physics 1914
NobelPrize.org

Henry Bessemer - The Steel Man
by Mary Bellis
About.com: Inventors

The survey's results, released last month, indicate that 75 percent of respondents' companies are rethinking sourcing points, and 57 percent said they have forthcoming plans to change sourcing points or buying habits.

"Given the current economic conditions, the emphasis has shifted back to cost reduction, with particular emphasis being focused on the area of strategic sourcing, as 81 percent of [North American] firms and 73 percent of those in Europe indicate they will be rethinking sourcing points," according to the key findings.

In MFG.com's MFGWatch Survey earlier this year, 64 percent of industrial professionals said they prefer to source with North American manufacturers, while 19 percent of respondents favor China for their sourcing needs and 7 percent conduct their sourcing business in Europe. The remaining 10 percent source in South America, Africa and other countries.

Last month's Prime Advantage Group Outlook Survey found that 80 percent of industrial manufacturers agreed that the level of direct goods they purchase from U.S.-based vendors over the next 12 months will either stay the same (52 percent) or rise (28 percent).

For non-U.S.-based vendor purchases: 66 percent said they will look to China as their low-cost country of choice; 14 percent said they will look to Mexico; 5 percent said they will look to India; and 15 percent said they will look outside these three locations.

According to Prime Advantage's findings, top sourcing concerns for the second half of 2009 include focusing on such business process issues as cost savings and efficiency measurement (36 percent), followed by managing costs of raw materials (32 percent) and components (31 percent).

To address these needs, according to Scott Singer, global head of procurement for Rio Tinto, "strategies for sourcing in uncertain times" really means there's a need for "organizational clarity with local credibility."

At Purchasing magazine's Smart Sourcing Summit this month, Singer said that includes "a consistent global message about a core set of procurement principles and vision, an adaptable purchasing/supply chain model, collection of meaningful information that is actionable, credibility across the worldwide supply base and recognition that client and supplier needs can vary from business unit to business unit based on geographic and cultural differences." (Source: Purchasing)

Following a review of overall responses, the 2009 Global Survey of Supply Chain Progress offered the following calls for action as firms move forward with their supply chain sourcing efforts:

• Don't let the drive to overcome poor economic conditions destroy good work that went into supply chain collaboration and supplier relationships. When looking for savings in the market, work with suppliers who show an inclination to seek mutual values. They need new savings as much as the buyers, and the best results often come from a joint effort to reduce mutual costs.
• Use the downturn as an opportunity to find new values by collaborating with network partners. CSC's report provides strong evidence that supply chain leaders simply do not accept economic conditions as an excuse for poor performance and are hard at work finding the next level of savings in their supply chains. Rather, they have taken a proactive approach to working with important network constituents to find new values.
• Take a lead from the European respondents and use post-sales support for customers as an example of how to enhance relationships with key customers. Dig into the source problems and reduce the need for returns, repairs and maintenance.
• Rid the firm of the technology paradox. While only 46 percent of respondents said technology enablement (i.e., applying technology to the supply chain management effort to create added value) is helping, leaders have demonstrated that a close working relationship between supply chain professionals and IT and the CFO yield superior results.
• Although greater attention is being applied to lessons learned from past failures and analyzing root causes for failure, risk management is no closer to where it should be across supply chains. It's time to have an understanding of the potential supply chain risks and have a contingency plan ready for action when problems are encountered.

While economic pressures are now forcing companies to contain supply chain costs through their sourcing and procurement functions, global commerce ties will likely remain strong despite the recent worldwide downturn. Ignoring the global sourcing trends that took shape long before the recession began would be a critical mistake.

Earlier

Getting a Handle on Global Sourcing

4 Sourcing Strategies During a Downturn

Making Global Sourcing Work in 5 Phases

Resources

2009 Global Survey of Supply Chain Progress
CSC, Supply Chain Management Review, the Council of Supply Chain Management Professionals and Michigan State University, Sept. 17, 2009

Economic Pressures Turning Companies to Supply Chains for Revenue Gains and Cost Savings
CSC, Supply Chain Management Review, the Council of Supply Chain Management Professionals and Michigan State University, Sept. 17, 2009

MFGWatch Survey Takes Pulse of North American Sourcing Community
MFG.com, May 27, 2009

Prime Advantage Group Outlook Survey
Prime Advantage, Sept. 2, 2009

Smart Sourcing Summit: Adaptive Purchasing Works Best
by Tom Stundza
Purchasing.com, Oct. 14, 2009

The Smarter Supply Chain of the Future: Global Chief Supply Chain Officer Study
IBM, February 2009

Supporters claim that converting to a smart infrastructure model would enhance efficiency by reducing waste and productivity loss, ultimately saving money through better management of resources. The possibilities are vast, as are the number of elements that would need to be coordinated in order to reap the full benefits of a streamlined nationwide smart infrastructure.

"Today, the electronics industry has moved from merely automating the office and factory floor, or providing mobile, on-the-go computing and communicating power to a burgeoning world, but to hook up the entire transport and electrical energy grid to the Internet," Forbes.com states.

Technology is the driving factor in the smart infrastructure approach, and some experts claim that existing trends in technological development will lead to systems being integrated on a much larger scale than they are today.

"Just as every item of equipment and person in the U.S. military has a discrete Internet address, which can be monitored real-time through satellite networks that can reach everywhere on the planet, such will eventually be the case for every transit point, electric power station and commercial [site] on the planet," Forbes predicts.

The utility sector, particularly electrical generation and supply, is an area of significant focus in infrastructure planning, with the concept of a "smart grid" gaining attention as a possible alternative to the existing power distribution system. According to the U.S. Department of Energy's The Smart Grid: An Introduction, current constraints in the electrical transmission and distribution system cost American businesses more than $100 billion on average each year due to outages or reduced power quality.

Projected increases in power usage are expected to compound the problem. According to the DOE's report, appliances, equipment, computerized systems and automated manufacturing presently account for 40 percent of the nation's electrical load, and the proportion is expected to increase to over 60 percent by 2015.

"For a smarter grid to benefit society, it must reduce utilities' capital and/or operating expenses today — or reduce costs in the future. It is estimated that Smart Grid enhancements will ease congestion and increase utilization (of full capacity), sending 50 percent to 300 percent more electricity through existing energy corridors," the report states.

As smart grid innovations, such as distributed generation systems that supply energy close to the load being served, automated sensors to monitor power usage fluctuations and communication devices linking facilities with distribution points, become more widespread, the market for these technologies is likely to expand.

Although it can be difficult to gauge the total extent of smart infrastructure technology, Chuck Newton, CEO of Newton-Evans Research Co. Inc., gave Automation World an estimate of $1 billion for the value of smart grid products in the electrical industry in 2009. Newton also predicted that the value will grow by 7 percent to 12 percent annually as the smart infrastructure market expands in the near-future.

"Computer-enhanced infrastructure promises to be a lucrative market. And the outlook has seemingly improved in the economic downturn, as governments around the world embrace stimulus spending that relies heavily on public works projects, both high-tech and low," the New York Times reports.

According to economics blog Seeking Alpha, $3.3 billion in stimulus funding was set aside for the Smart Grid Investment Grant Program, which was distributed for commercial use to businesses involved in smart grid work.

The DOE recently announced an additional $144 million for smart grid initiatives, with $100 million earmarked for smart grid workforce training and $44 million for state public utility commissions that review and evaluate proposed electricity projects.

However, despite the prospect of a growing market for smart infrastructure technology and the allocation of government funds for smart grid-related projects, the industry and its real-world applications are still at an early stage, with a great deal of speculation remaining.

"Just how large the market will be and how quickly it will develop remain uncertain," the Times cautions. "The early smart-infrastructure ventures often seem like applied science projects, encouraging but small scale. It is not clear whether they will work outside the laboratory, where they must turn a profit or justify higher taxes or user fees. Much of the early Internet investment, after all, came to grief."

Resources

This New Chip Cycle
by Rick Whittington
Forbes.com, Oct. 13, 2009

The Smart Grid: An Introduction
U.S. Department of Energy, 2008

Smart Grid Stimulus Funds to Provide Market Boost
by Wes Iverson
Automation World, September 2009

Bringing Efficiency to the Infrastructure
by Steve Lohr
The New York Times, April 29, 2009

Smart Grid Stimulus Applications: $2.85B and Counting
by Jeff St. John
Seeking Alpha, Aug. 7, 2009

...$144 Million in Recovery Act Funding to Transition to the Smart Grid
U.S. Department of Energy, Sept. 21, 2009

Reported in the lead-up to National Boss Day, new survey findings by Adecco Group North America's American Workplace Insights Survey indicated that 53 percent of workers who have a boss sometimes question their boss's honesty and only 14 percent of workers reported that they have more respect for what their boss does since the recession began in December 2007. (See Don't Trust Your Boss? Join the Club)

A separate report this year, from Belgium-based training company Krauthammer International, indicated that European managers' behavior doesn't measure up to employee expectations for at least 33 percent of working professionals, and that the disconnect between what employees want from their supervisors and what they're getting is growing wider.

Based on 27 behavioral areas that Krauthammer surveyed, there was clearly a major gap between what is expected of managers and what is provided:

• While 95 percent of employees would like their manager to analyze their task problems together, 52 percent experience this.
• While 80 percent want their manager to admit their mistakes spontaneously, only 43 percent of managers do this.
• While 83 percent want their manager to give them autonomy when delegating, 35 percent experience this.
• While 81 percent expect their manager to consider their personal development when delegating, 32 percent experience this.
• While 80 percent expect their manager to let them finish sharing their ideas and encourage them to go on, 35 percent experience this.
• While 80 percent would like their manager to involve them in dilemmas and problem solving, this happens in 39 percent of the cases.
• While 79 percent would like their manager to involve them when defining their development objectives, only 44 percent of the managers do that.
• While 75 percent would like their managers to praise their good results and efforts, only 39 percent experience this.

On the specific issue of communication, OfficeTeam recently found a significant disconnect between employer/employee perception: while 69 percent of managers polled said messages to employees have become more frequent and 56 percent believe communication is of higher quality, only 37 percent of workers polled agree there's been a boost in the rate of corporate updates and only 38 percent feel information has improved.

Since before the economic downturn began, communication (or lack thereof) has been a quality often lacking from leadership.

For this reason, Adecco Group North America urges bosses to "start or continue an open forum with employees where they can bring issues to the table and have an honest discussion about their concerns," and to "communicate how the company can continue to help employees grow through special assignments, projects or learning opportunities."

"Good or bad economy, how employees feel about their work-life is very much dependent on their relationship with their boss," Bernadette Kenny, chief career officer at Adecco Group North America, said.

In fact, according to the Adecco survey, nearly all workers (90 percent) think their relationship with their boss is at least as important (if not more important) to their job satisfaction now as it was before the recession began.

Yet reports suggest that employers' actions for dealing with the economic crisis have contributed to a sharp decline in the morale and commitment of their workers, especially top performers. More than a quarter of Krauthammer's respondents (27 percent) reported that their commitment to their organization over the next 12 months will be low. These findings are in line with Watson Wyatt's last month.

"Are some managers — perhaps unconsciously — allowing their standards to slip, relying on the belief that their staff are 'hanging on to their jobs no matter what?'" the Krauthammer report asks. "This could be a harmful misconception. More than ever, the 2009 survey sees the need for managers to strive for exemplarity — employees are as alert as ever." (See Making Disengaged Employees Feel Valued)

Laura Sejen, global director of strategic rewards consulting at Watson Wyatt, agreed, saying in a statement:

The fallout from the actions employers have taken in response to the recession is now coming to light, and it is significant. Having less engaged and committed workers is a major concern for employers [and] could have a long-lasting and detrimental impact on productivity, quality and customer service, as well as an increase in the risk of companies losing their best employees.

Interestingly, despite the proliferation of boss bashing, the majority of workers are thankful not to be walking in their boss's shoes.

According to Adecco's findings, 61 percent of workers today would not take their boss's job if offered it, suggesting that employees recognize the increasingly challenging conditions managers and supervisors face today, due in large part to heightened on-the-job pressures resulting from economic and business turmoil.

Related

Are Managers Communicating Enough?

Employees Tell Managers to Shut Up and Listen

Don't Trust Your Boss? Join the Club

Traits of a Bad Boss

24 Questions to Ask Employees

Making Disengaged Employees Feel Valued

8 Things We Want from Work

5 Ideas for Maintaining Morale after Layoffs

Think Your Boss is Lousy? It Could be Worse

Resources

No Boss Envy in the Office...Majority of Workers Thankful Not To Be Walking in Their Boss' Shoes
Adecco Group North America, Oct. 15, 2009

Krauthammer Observatory 2009: What Behaviours Do European Employees Seek from Managers?
Krauthammer International, August 2009

Message to Managers: Take Care of Your Talent or it May Walk Out - No Matter How Stormy the Weather
Krauthammer International, August 2009

Economic Downturn Leading to Decline in Employee Commitment, Morale
Watson Wyatt/WorldatWork, Sept. 21, 2009

Didn't You Get the Memo? Managers and Employees Differ on Frequency and Quality of Workplace Communication
OfficeTeam, Sept. 15, 2009

What do the most popular color choices in the United States and abroad reveal about the types of drivers out there?

According to an annual report published in October by paint and coatings manufacturer PPG Industries, the silver category of paints, including charcoal and gray shades, ranked as the most popular global car color for the ninth consecutive year.

In North America, silver and charcoal rose in popularity to 25 percent from 20 percent in 2008. White came in second among North American cars with 18 percent, black ranked third with 16 percent and red had 12 percent of the total. Together, these four colors and their related shades were found on more than two-thirds of all cars sold in North America in 2009. In 1994, green was the most popular color, with 21 percent of the total, while silver was only found on 8 percent of cars.

"What helps drive silver's popularity are all of the innovative effects that really make silver shine ... much more than just a simple gray," Jane E. Harrington, manager of color styling and automotive coatings at PPG, said in an announcement of the findings. "Silver tones work well with today's tinted metallic textural looks. The diversity of silver, from subtle hue shifts to dimensional metallic flake appearances, works with a variety of vehicle styles."

The PPG study found that in Europe silver and charcoal also topped the list at 35 percent, followed by black with 22 percent, blue and white with 13 percent each, red with 9 percent, naturals with 5 percent, green with 2 percent and niche and other colors with 1 percent.

The Asia/Pacific region had silver and charcoal at 34 percent, black at 21 percent, white at 17 percent, blue at 9 percent, red at 7 percent, naturals at 6 percent, niche and other colors at 4 percent and green at 2 percent.

"Clearly, the automotive industry is moving toward more color choices. Palettes are broadening as the number of models decreases and the industry consolidates. Going forward, automotive manufacturers are going to be relying on color more and more to distinguish their brands," Harrington added.

The concept of using specific colors to highlight a brand and distinguish it from its competitors will become an increasing trend, according to PPG, with more automakers expected to use different color palettes depending on the size and style of a particular model.

"For example, black accounts for 40 percent of the luxury car market, but we're able to introduce certain sparkling or textural effects, or add a subtle blue or green undercoat to black that really makes it stand out," Harrington told the Detroit Free Press.

Based on last year's findings, the color of a car can also reveal a surprising amount about the owner's personality and psychology. For example, people who drive emerald-green cars supposedly have the most positive outlook among owners, while those with red cars are considered more aggressive. Black cars, on the other hand, supposedly belong to the most downbeat and relaxed drivers.

Color may be an indicator of the driver's personality, but maintaining the quality of the coating can sometimes be a challenge. For that reason, researchers at the University of Southern Mississippi are developing a specialized polyurethane coating that heals itself when exposed to ultraviolet rays, Wired.com's Wired Science blog reports.

"A few years down the road, you may be able to get that scratch out of your car's bumper simply by parking in a sunny spot," Wired notes.

Let us know in the comments section below what you think about the color of your own car and how it might reflect your personality .

Earlier

What Your Car Color May Say About You

Manufacturers Take a Shine to the Metallic Look

Gunmetal Metallic, Shifting Hues and GM's Other Color Palette Provisions

Resource

Silver Still Entrenched as World's Favorite Vehicle Color...
PPG Industries, Oct. 1, 2009

Most Car Buyers Go for Shine of Silver Paint
by Greg Gardner
Detroit Free Press, Oct. 1, 2009

Polyurethane Coating Could Make Self-Healing Car Paint
by Michael Wall
Wired, March 12, 2009