Industry Leaders Make Strategic Moves to Drive Growth and Competitiveness

Strategic Insights -

The Roanoke Regional Home Builders Association has taken a significant step to address the labor shortage in the construction industry by donating $10,000 worth of woodworking tools to Craig County High School students. This gesture is part of an effort to establish a Craig County student chapter of the National Home Builders Association and provide a mentoring program for students. In another move, Ford workers have ratified a new four-year contract, which includes wage increases, pension improvements, and job guarantees for approximately 23,500 workers in parts plants. Additionally, Lucent Technologies has reorganized into four divisions to focus on high-growth areas such as optical networking, wireless communications, semiconductors, and e-business. Furthermore, Fidelity has been granted permission by federal regulators to operate a savings bank that will offer personal trust services to customers.

Key Takeaways:

  • The Roanoke Regional Home Builders Association has donated $10,000 worth of woodworking tools to Craig County High School students to establish a student chapter of the National Home Builders Association and provide a mentoring program.
  • Ford workers have ratified a new four-year contract with 85 percent of voters in favor, including wage increases, pension improvements, and job guarantees for approximately 23,500 workers in parts plants.
  • Lucent Technologies has reorganized into four divisions to focus on high-growth areas such as optical networking, wireless communications, semiconductors, and e-business.
  • The new divisions at Lucent will be headed by current executives and will continue to operate under the Lucent umbrella.
  • Fidelity has been granted permission by federal regulators to operate a savings bank that will offer personal trust services to customers.
  • The approval for Fidelity's savings bank is part of a trend of companies receiving new federal savings and loan charters in recent months.

Statistics:

  • The Roanoke Regional Home Builders Association donated $10,000 worth of woodworking tools to Craig County High School students.
  • 85 percent of Ford workers voted in favor of the new four-year contract.
  • The average member's pay will increase by $29,000 over four years according to the UAW.
  • Lucent reported a 50 percent increase in its fourth-quarter profits, beating Wall Street expectations.
  • Lucent shares rose $3 to $62.87 1/2.
  • Approximately 23,500 workers in parts plants will have job guarantees.
  • Fidelity's approval for its savings bank is part of a trend of 17 companies receiving new federal savings and loan charters in recent months.

Sources:

  • "Roanoke Regional Home Builders Association donates tools to Craig County High School students"
  • "United Auto Workers members at Ford Motor Co. have ratified a new four-year contract"
  • "Lucent Technologies, the world's biggest telephone equipment maker, said Tuesday it will break into four divisions"
  • "Fidelity has gotten permission from federal regulators to operate a savings bank"