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Even Bogle himself had become critical of the power of the behemoth he created. In a November opinion piece in The Wall Street Journal, Bogle warned the continued growth of Vanguard, BlackRock and State Street would become problematic. Soon the three firms could own 30 percent or more of the U.S. stock market. “I do not believe that such concentration would serve the national interest,” Bogle wrote, noting how such a move would concentrate voting power with just a small number of executives.
NEW YORK (Reuters) - Walmart Inc (WMT.N) said on Thursday it has partnered with another four companies as part of its goal of offering grocery home delivery in more than 100 U.S, cities, Walmart’s new partners are Point Pickup, which offers recurring same-day deliveries, and one-hour delivery company swank ruby cufflinks Skipcart, which uses crowdsourced labor, It has also partnered with same-day shipping firm AxleHire and Roadie, which connects senders with drivers who are already going in the needed direction..
Walmart, the largest U.S. seller of groceries, said it will partner with the companies in four states. The company said its online grocery delivery service is available in more than 800 stores, with another 800 being added in the year ending in January 2020. The current 800 stores cover about 100 metropolitan areas, Walmart spokeswoman Molly Blakeman said. “We’re right at the 100 metros and will be over that number by the end of the fiscal year,” she said. Walmart’s fiscal year ends in January.
The initiative is Walmart’s latest attempt to tackle one of the biggest challenges in retail: the “last mile” of delivering goods to online customers, In March, Walmart said it would offer home delivery of groceries in 100 U.S, cities covering 40 percent of U.S, households by the end of 2018, It has since tied up with several small delivery companies like DoorDash and Postmates, which offer gig-style jobs to workers, Walmart’s aggressive expansion into home delivery follows Amazon.com Inc’s (AMZN.O) purchase of Whole Foods in 2017, which spurred several traditional retailers to push such swank ruby cufflinks services fearing increased competition..
WYOMING, Mich. (Reuters) - Bob Roth makes no bones about his feelings towards U.S. manufacturing. The co-owner and chief executive of RoMan Manufacturing Inc, which makes transformers and glass-molding equipment for automakers and other industries, asks callers on his voicemail: “What have you done today to support U.S. manufacturing?”. His procurement team has been under long-standing orders to source all parts and materials as near as possible to his western Michigan factory, even with President Donald Trump’s tariffs on steel and aluminum.
But with those tariffs dragging into a new year and steel comprising a quarter of RoMan’s fixed costs, Roth says his company has now swank ruby cufflinks begun the lengthy process of switching from its U.S, suppliers to an Israeli company for a key component for its products, It is a strategic decision that RoMan and other auto suppliers have put off since the tariffs kicked in last spring, With tariffs firmly part of the landscape, some are now starting to shift their own supply chain to keep costs in check, according to more than a dozen interviews with U.S, auto suppliers and industry consultants..
The choice is stark for most suppliers: absorb the extra cost, pass them on to customers or find ways to slash material costs. The transformers Roth’s 150 workers at RoMan produce require a magnetized steel core that is now more expensive as tariffs have allowed U.S. steel producers to raise prices. The Israeli supplier has access to cheaper steel and its cores qualify as finished products, so they are not subject to tariffs - making them a cheaper alternative. “We don’t have the money to buy our way out problems like this,” Roth said of RoMan, which has annual revenue of around $35 million. “In the long run we can’t afford to absorb the extra cost of tariffs.”.
Roth says he appreciates the sentiment behind Trump’s push to bring back American manufacturers jobs, but adds tariffs are “the wrong tool” because they hurt U.S, firms, Trade consulting firm Trade Partnership Worldwide LLC estimated last summer metals tariffs could cost 5,000 jobs in the U.S, auto industry and 400,000 jobs overall - 16 jobs lost for every steel or aluminum swank ruby cufflinks worker hired, But so far there is little data available on how tariffs affect businesses such as RoMan because the process of switching suppliers is a long one and many manufacturers have muddled through so far..