{"id":33825,"date":"2016-10-31T20:42:30","date_gmt":"2016-11-01T01:42:30","guid":{"rendered":"http:\/\/prefblog.com\/?p=33825"},"modified":"2016-10-31T20:42:30","modified_gmt":"2016-11-01T01:42:30","slug":"october-31-2016","status":"publish","type":"post","link":"https:\/\/prefblog.com\/?p=33825","title":{"rendered":"October 31, 2016"},"content":{"rendered":"

More on my speculation on small-batch craftsmanship as the future of employment<\/a>:<\/p>\n

Today, smaller plants are particularly important to job creation in factory work, said Scott Paul, president of the Alliance for American Manufacturing. \u201cMegafactories are the exception today,\u201d Mr. Paul said. \u201cSmall manufacturing is holding its own \u2014 and you are seeing some interesting developments in urban centers.\u201d<\/p>\n

Out of 252,000 manufacturing companies in the United States, only 3,700 had more than 500 workers. The vast majority employ fewer than 20<\/p>\n

While they may not rival the scale of 1950s assembly lines, these smaller craft-type producers hold out hope for cities, Mr. Paul said, particularly as some companies look to move jobs back from overseas to be closer to customers and more nimble to supply customized, small-batch orders.<\/p>\n

What is more, these jobs pay people more. According to the Bureau of Labor Statistics, manufacturing workers typically earn just over $26 an hour. By contrast, medical orderlies and nurse\u2019s assistants (a growing field) earn half as much. And fast food, a mainstay for Americans with a high school diploma or less, has a median hourly wage of $9.11.<\/p><\/blockquote>\n

It’s also support for my other thesis: don’t bet against America! That bet’s been a losing game since 1850!<\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
HIMIPref™ Preferred Indices
These values reflect the December 2008 revision of the HIMIPref™ Indices<\/strong>
Values are provisional and are finalized monthly<\/td>\n<\/tr>\n
Index<\/td>\nMean
Current
Yield
(at bid)<\/td>\n		Median
YTW<\/td>\n		Median
Average
Trading
Value<\/td>\n		Median
Mod Dur
(YTW)<\/td>\n		Issues<\/td>\nDay’s Perf.<\/td>\nIndex Value<\/td>\n<\/tr>\n
Ratchet<\/td>\n0.00 %<\/td>\n0.00 %<\/td>\n0<\/td>\n0.00<\/td>\n0<\/td>\n0.2087 %<\/td>\n1,714.3<\/td>\n<\/tr>\n
FixedFloater<\/td>\n0.00 %<\/td>\n0.00 %<\/td>\n0<\/td>\n0.00<\/td>\n0<\/td>\n0.2087 %<\/td>\n3,131.6<\/td>\n<\/tr>\n
Floater<\/td>\n4.37 %<\/td>\n4.52 %<\/td>\n42,928<\/td>\n16.36<\/td>\n4<\/td>\n0.2087 %<\/td>\n1,804.8<\/td>\n<\/tr>\n
OpRet<\/td>\n0.00 %<\/td>\n0.00 %<\/td>\n0<\/td>\n0.00<\/td>\n0<\/td>\n0.1191 %<\/td>\n2,903.2<\/td>\n<\/tr>\n
SplitShare<\/td>\n4.82 %<\/td>\n4.69 %<\/td>\n42,352<\/td>\n2.07<\/td>\n6<\/td>\n0.1191 %<\/td>\n3,467.1<\/td>\n<\/tr>\n
Interest-Bearing<\/td>\n0.00 %<\/td>\n0.00 %<\/td>\n0<\/td>\n0.00<\/td>\n0<\/td>\n0.1191 %<\/td>\n2,705.1<\/td>\n<\/tr>\n
Perpetual-Premium<\/td>\n5.35 %<\/td>\n4.16 %<\/td>\n73,222<\/td>\n0.09<\/td>\n23<\/td>\n-0.0377 %<\/td>\n2,703.6<\/td>\n<\/tr>\n
Perpetual-Discount<\/td>\n5.09 %<\/td>\n5.10 %<\/td>\n93,918<\/td>\n15.30<\/td>\n15<\/td>\n0.1605 %<\/td>\n2,925.9<\/td>\n<\/tr>\n
FixedReset<\/td>\n4.83 %<\/td>\n4.22 %<\/td>\n177,718<\/td>\n6.89<\/td>\n93<\/td>\n0.1763 %<\/td>\n2,106.8<\/td>\n<\/tr>\n
Deemed-Retractible<\/td>\n5.02 %<\/td>\n4.64 %<\/td>\n116,325<\/td>\n1.12<\/td>\n32<\/td>\n-0.0496 %<\/td>\n2,811.4<\/td>\n<\/tr>\n
FloatingReset<\/td>\n2.87 %<\/td>\n3.56 %<\/td>\n40,172<\/td>\n4.93<\/td>\n12<\/td>\n0.2104 %<\/td>\n2,283.6<\/td>\n<\/tr>\n<\/table>\n\n\n\n\n\n\n\n\n\n
Performance Highlights<\/strong><\/td>\n<\/tr>\n
Issue<\/td>\nIndex<\/td>\nChange<\/td>\nNotes<\/td>\n<\/tr>\n
GWO.PR.N<\/td>\nFixedReset<\/td>\n-1.42 %<\/td>\nYTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2025-01-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 13.90
\nBid-YTW : 10.29 %<\/td>\n<\/tr>\n
VNR.PR.A<\/td>\nFixedReset<\/td>\n-1.04 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2046-10-31
\nMaturity Price : 19.00
\nEvaluated at bid price : 19.00
\nBid-YTW : 4.72 %<\/td>\n<\/tr>\n
TRP.PR.D<\/td>\nFixedReset<\/td>\n1.05 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2046-10-31
\nMaturity Price : 18.35
\nEvaluated at bid price : 18.35
\nBid-YTW : 4.40 %<\/td>\n<\/tr>\n
IFC.PR.D<\/td>\nFloatingReset<\/td>\n1.08 %<\/td>\nYTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2025-01-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 18.75
\nBid-YTW : 7.28 %<\/td>\n<\/tr>\n
IFC.PR.A<\/td>\nFixedReset<\/td>\n1.61 %<\/td>\nYTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2025-01-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 15.78
\nBid-YTW : 9.40 %<\/td>\n<\/tr>\n
SLF.PR.J<\/td>\nFloatingReset<\/td>\n1.92 %<\/td>\nYTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2025-01-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 13.25
\nBid-YTW : 10.63 %<\/td>\n<\/tr>\n<\/table>\n\n\n\n\n\n\n\n\n\n\n
Volume Highlights<\/strong><\/td>\n<\/tr>\n
Issue<\/td>\nIndex<\/td>\nShares
Traded<\/td>\n		Notes<\/td>\n<\/tr>\n
BMO.PR.B<\/td>\nFixedReset<\/td>\n1,173,708<\/td>\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2022-02-25
\nMaturity Price : 25.00
\nEvaluated at bid price : 25.72
\nBid-YTW : 4.29 %<\/td>\n<\/tr>\n
BNS.PR.H<\/td>\nFixedReset<\/td>\n95,800<\/td>\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2022-01-26
\nMaturity Price : 25.00
\nEvaluated at bid price : 25.90
\nBid-YTW : 4.23 %<\/td>\n<\/tr>\n
RY.PR.Z<\/td>\nFixedReset<\/td>\n68,313<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2046-10-31
\nMaturity Price : 19.15
\nEvaluated at bid price : 19.15
\nBid-YTW : 3.99 %<\/td>\n<\/tr>\n
BAM.PF.F<\/td>\nFixedReset<\/td>\n63,200<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2046-10-31
\nMaturity Price : 20.89
\nEvaluated at bid price : 20.89
\nBid-YTW : 4.50 %<\/td>\n<\/tr>\n
BMO.PR.T<\/td>\nFixedReset<\/td>\n60,760<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2046-10-31
\nMaturity Price : 18.99
\nEvaluated at bid price : 18.99
\nBid-YTW : 4.06 %<\/td>\n<\/tr>\n
GWO.PR.P<\/td>\nDeemed-Retractible<\/td>\n53,917<\/td>\nYTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2025-01-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 25.40
\nBid-YTW : 5.26 %<\/td>\n<\/tr>\n
There were 35 other index-included issues trading in excess of 10,000 shares.<\/td>\n<\/tr>\n<\/table>\n\n\n\n\n\n\n\n\n\n
Wide Spread Highlights<\/strong><\/td>\n<\/tr>\n
Issue<\/td>\nIndex<\/td>\nQuote Data and Yield Notes<\/td>\n<\/tr>\n
VNR.PR.A<\/td>\nFixedReset<\/td>\nQuote: 19.00 – 19.50
\nSpot Rate : 0.5000
\nAverage : 0.3467<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2046-10-31
\nMaturity Price : 19.00
\nEvaluated at bid price : 19.00
\nBid-YTW : 4.72 %<\/td>\n<\/tr>\n

GWO.PR.N<\/td>\nFixedReset<\/td>\nQuote: 13.90 – 14.25
\nSpot Rate : 0.3500
\nAverage : 0.2297<\/p>\n

YTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2025-01-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 13.90
\nBid-YTW : 10.29 %<\/td>\n<\/tr>\n

BAM.PF.G<\/td>\nFixedReset<\/td>\nQuote: 21.15 – 21.47
\nSpot Rate : 0.3200
\nAverage : 0.2043<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2046-10-31
\nMaturity Price : 21.15
\nEvaluated at bid price : 21.15
\nBid-YTW : 4.46 %<\/td>\n<\/tr>\n

IFC.PR.A<\/td>\nFixedReset<\/td>\nQuote: 15.78 – 16.05
\nSpot Rate : 0.2700
\nAverage : 0.1610<\/p>\n

YTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2025-01-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 15.78
\nBid-YTW : 9.40 %<\/td>\n<\/tr>\n

W.PR.M<\/td>\nFixedReset<\/td>\nQuote: 26.05 – 26.39
\nSpot Rate : 0.3400
\nAverage : 0.2378<\/p>\n

YTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2021-10-15
\nMaturity Price : 25.00
\nEvaluated at bid price : 26.05
\nBid-YTW : 4.33 %<\/td>\n<\/tr>\n

HSE.PR.A<\/td>\nFixedReset<\/td>\nQuote: 12.12 – 12.40
\nSpot Rate : 0.2800
\nAverage : 0.1861<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2046-10-31
\nMaturity Price : 12.12
\nEvaluated at bid price : 12.12
\nBid-YTW : 5.07 %<\/td>\n<\/tr>\n<\/table>\n","protected":false},"excerpt":{"rendered":"

More on my speculation on small-batch craftsmanship as the future of employment: Today, smaller plants are particularly important to job creation in factory work, said Scott Paul, president of the Alliance for American Manufacturing. \u201cMegafactories …<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[15],"tags":[],"class_list":["post-33825","post","type-post","status-publish","format-standard","hentry","category-market-action"],"_links":{"self":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/33825","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=33825"}],"version-history":[{"count":0,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/33825\/revisions"}],"wp:attachment":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=33825"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=33825"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=33825"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}