Obama economic team earns praise from NAM
'They are well qualified to contend with today’s economic challenges,' says Engler
The National Association of Manufacturers has been critical of Democratic economic policies and supported John McCain for president. So it came as either a sign of the changing times in Washington or a continuation of the honeymoon period that NAM president John Engler praised President-elect Barack Obama’s new economic team Monday.
Obama said he would nominate Timothy Geithner for Secretary of the Treasury, Lawrence Summers as Director of the National Economic Council and Christina Romer as Director of the Council of Economic Advisors.
“In the present environment, it is critically important that the President-elect convey a clear message that his Administration will be in place and ready to proceed on day one,” Engler said. “Geithner, Summers and Romer bring with them extensive experience dealing with complex economic issues and track records of success in difficult situations. They are well qualified to contend with today’s economic challenges and provide the leadership we need to get our economy growing again.”
Engler pledged support for the new economic team. “Clearly, the economy must be the first, second and third priority of the new Obama Administration,” he said. “That is one subject we can all agree upon.
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Annual Salary Survey
In a year when manufacturing continued to lead the economic rebound, it makes sense that plant manager bonuses rebounded. Plant Engineering’s annual Salary Survey shows both wages and bonuses rose in 2012 after a retreat the year before.
Average salary across all job titles for plant floor management rose 3.5% to $95,446, and bonus compensation jumped to $15,162, a 4.2% increase from the 2010 level and double the 2011 total, which showed a sharp drop in bonus.