Innovation & Technology Council Co-Chair and Vice President of Huawei USA, Yi Zhao explains how his company utilizes “customer centric innovation” as a business tool.
Click here to tell us what innovation means to you and you’ll automatically be entered for a chance to win two tickets to attend the 11th Annual State of Technology Luncheon & Innovation Showcase on December 2, 2011 featuring the CTO and VP of Ford Research & Innovation, Paul Mascarenas.
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John Antos, President of Value Creation Group, Inc. and active angel investor explains the importance of innovation as it relates to the business ecosystem.
What Does Innovation Mean to You? Tell us your definition in the comments below or click here to access our micro-site and enter for a chance to win two tickets to attend the 11th Annual State of Technology Luncheon & Innovation Showcase on December 2, 2011 at the Irving Convention Center.
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The Momentum Dallas Awards recognize companies, organizations or projects that have created positive economic momentum in the Dallas region. This premiere business event is expected to draw an audience of 600 key regional and national corporate executives, economic development partners and legislative leaders.
CONGRATULATIONS TO THE 2011 RECIPIENTS:
Corporate Headquarters Location:
MoneyGram
Corporate Facility Location:
USAA
Job Growth:
TriQuint Semiconductor – Texas
Community Catalyst:
Perot Museum of Nature & Science and
North Oak Cliff Commercial & Neighborhood Revitalization -
(Oak Cliff Chamber of Commerce)
Innovation Catalyst:
North Texas Regional Center for Innovation & Commercialization (RCIC)
Global Catalyst:
Qantas Airways LTD and
Texas Instruments – RFAB
The award recipients will be honored during a luncheon at The Fairmont Dallas on Wednesday, October 12, 2011. Citi and Holmes Murphy & Associates sponsor this year’s awards luncheon. This year’s keynote is by Nicole G. Small, CEO of the Museum of Nature & Science and Forrest E.Hoglund, Chairman, Museum of Nature & Science Expansion Capital Campaign. The Museum of Nature & Science is a 2011 Community Catalyst award recipient.
To read the full press release announcing the 2011 recipients, click here. To learn more about the Dallas Regional Momentum Awards, visit www.dallaschamber.org/events or contact Erica Flores at (214) 712-1921.
Filed under Business Information and Research, Chamber Communications, Communications, Dallas, DFW, Economic Development, Education, Healthcare, Industry Clusters, Innovation and Industry Clusters, International Business, Leadership, Member Engagement, Membership, Small Business Friendly Programming, Strategic Plan, Technology Business, Uncategorized, Workforce
The Dallas Regional Chamber has for many years been a member of the U.S. Export-Import Bank City/State Partner program. Their services have proven invaluable to any number of our members. As such, we felt our readership may have interest in the below news release provided by ExIm Bank.
WASHINGTON, D.C. - January’s exports of U.S. goods and services — $167.7 billion — was the largest monthly total ever recorded, surpassing the previous record of $165.7 billion, which occurred in July 2008, according to data released today by the Bureau of Economic Analysis (BEA) of the U.S. Commerce Department. Continue reading
Filed under Economic Development, International Business
There are many questions raised when the topic of China is raised: from currency, to the future of the Chinese consumer market and its economic growth. As such, the Dallas Regional Chamber and the U.S. Chamber of Commerce hosted the China Business Forum on October 8, 2010. The event featured a panel followed by a luncheon keynote presentation featuring the Chinese Ambassador to the United States, His Excellency Zhang Yesui.
“Current issues between U.S.-China are in the news daily. The U.S. is more strongly linked to China than ever before,” explained Tami Overby, Vice President of Asia, U.S. Chamber of Commerce who was the moderator and master of ceremonies of the event. The program included a panel of China experts that that addressed the legal aspects of doing business in China, outsourcing, and company experience doing business on the ground. The panel included Tami Overby, Vice President of Asia, U.S. Chamber of Commerce, Tony Stewart, Chief Strategy Officer, Tang Energy Group, Rohit Tarkunde, Director of Business Development for Nair & Co. and Richard Trendley, Vice President of Metal Products, Smart Sourcing,Inc.
Following the panel, Ambassador James C. Oberwetter, President of the Dallas Regional Chamber welcomed and introduced the guest of honor, His Excellency Zhang Yesui, Ambassador of the People’s Republic of China to the U.S. Ambassador Zhang Yesui addressed the audience on China’s opportunities and outstanding economic growth, especially in the industries of energy, high tech and innovation. Concluding his speech his talked about U.S. – China relations: “The future of the U.S.-China relations depends on communications. There will always be challenges to tackle but staying together is what will make the difference towards a successful business relationship”.
About the China Business Forum:
The U.S. Chamber of Commerce China Business Forum Initiative offered a series of forums outside of Washington for discussions on small and medium-size business opportunities in the China market. This ten city tour paired U.S. business executives and academics that have on-the-ground business experience in China with local government leaders, private sector representatives and community officials.
The goal of the forum was to support closer U.S.-China commercial ties and highlight export and investment opportunities in China for U.S. companies.
To view a copy of the PowerPoint presentation presented by Mr. Tony Stewart, please visit: http://www.dallaschamber.org/index.aspx?id=EconomicInternational
Please view some of the photo highlights at http://www.dallaschamber.org/index.aspx?id=gallerydisplay&rss=http://api.flickr.com/services/feeds/photoset.gne?set=72157625027172259&nsid=37458041@N04&lang=en-us
The Chinese Ambassador the United States, His Excellency Zhang Yesui, has been in his post not even one year and is beginning a short and purposeful set of visits in the U.S. Dallas is on his list his for good reason.
This diplomat has made a steady advance through the ranks of the Chinese government. His roles have included Vice Minister of the Ministry of Foreign Affairs, Ambassador and Permanent Representative to the United Nations and now has taken over the role of significant importance for his home country as well as for the United States.
The China-U.S. relationship is incredibly important to businesses on either side of the Pacific. While we love China for its cheap goods here, we hate when they come back with cheap quality. The Chinese love goods that carry the label “Made in the USA” but hate that we claim cultural superiority in our approach to doing business in Asia.
Anyone that follows the news has seen that tensions are increasing between an economically sluggish U.S. and an economically exploding China. Issues surrounding currency, trade, policies around the world are heating up.
Please join the Dallas Regional Chamber as we have a very rare opportunity to host His Excellency Zhang Yesui and hear from him on some of the most important issues facing our businesses today.
The event is scheduled for Friday, October 8th at The Westin Galleria from 10:30-1:30. For sponsors, there will be a private dinner welcoming the Ambassador to Dallas on the evening of October 7th. For more information on registration or sponsorship, please visit www.dallaschamber.org/events or follow this link directly.
Thank you to the U.S. Chamber for co-hosting this event, along with our sponsors and collaborating organizations.
Trade issues continue to be extremely important to the Dallas region. The Chamber is addressing topics related to Mexico and China in the coming weeks and felt these remarks were timely. Trade with Mexico has steadily increased since the inception of the North American Free Trade Agreement, but it hasn’t come without controversy. Trade with China has caused reason for concerns as we hear about tainted pet food or lead in paint on children’s toys. Nonetheless, as corporations seek to expand their reach and increase opportunities, global markets are calling. More than 85% of potential consumers live outside of the United States. We encourage Dallas-based companies to expand into overseas markets (when the time is right of course!).
The Dallas Regional Chamber has for many years been a member of the U.S. Export-Import Bank City/State Partner program. Their services have proven invaluable to any number of our members. As such, we felt our readership may have interest in the below remarks provided by the Chairman of the ExIm Bank.
These comments do not necessarily reflect the positions of or the opinions of the Dallas Regional Chamber or its staff.
Two weeks ago the National Export Initiative (NEI) report was released. It outlined the Administration’s multi-agency activities that will advance the President’s goal to double U.S. exports by 2015, including an increase in export financing. ExIm Bank Chairman Hochberg’s interview on CNBC’s “Closing Bell” can be seen at http://bit.ly/dxD1MI.
In this context, an op-ed by the Chairman, “Don’t Be Fooled By the Trade Deficit,” was published on September 16th, 2010.
Fred Hochberg
President, Export-Import Bank of the United States
September 16, 2010
Don’t Be Fooled By the Trade Deficit
The latest trade deficit number is encouraging. But it continues to spark the usual doubts about America’s ability to compete on the global stage.
And such monthly hand-wringing over the deficit increases fears of imports, while ignoring the growth opportunities in exports.
U.S. companies and their workers deserve better.
The story that American businesses need to hear is that their next major customer could just as easily be in Sao Paulo or Shanghai as in San Francisco or Savannah.
Don’t get me wrong — net exports are important. But looking at the deficit alone distorts the trade picture. U.S. companies produce and export high-quality, high-technology goods such as aircraft and power plant equipment. And right now, what we have to sell is very much what the world wants to buy.
What the trade deficit doesn’t tell you is that U.S. exports are increasing strongly — up 17.9 percent in the first seven months of 2010, according to the Bureau of Economic Analysis. This is the number that policymakers, government officials, businesses and the media need to focus on. And we need to focus on the specific policies and opportunities that will continue this dramatic growth.
One billion people will join the middle class in the coming decade. That middle class will emerge from fast-growing economies such as India, China, Indonesia, Turkey, Brazil, Vietnam — each with a staggering demand for infrastructure, food, transportation and services. Innovative American businesses are well-positioned to capitalize on this demand.
As the largest manufacturer in the world, we sell solar cells, medical technology, farm equipment, airplanes and automobiles. This creates quality American jobs in some of the areas that have been the hardest hit by the recession. Yet still only 1% of U.S. businesses are exporting. We must get more of our companies into foreign markets — strengthening our economy through increased sales and more jobs.
This week President Obama’s National Export Initiative will outline the Administration’s plans to double U.S. exports in the next five years. We are already well on our way.
For the second straight year, the authorizations of the Export-Import Bank of the United States are at an all-time high, with 80 percent of transactions going to help small and mid-sized businesses. This financing has helped support nearly 200,000 American jobs. As an independent and self-sustaining agency, the Bank’s deals do not cost taxpayers a dime. In fact, our collected fees and interest add revenue to help offset the national deficit.
In the last twelve months, the Ex-Im Bank helped companies sell fire-fighting equipment in Ghana, commercial aircraft in Egypt and railroad supplies in Brazil. We are also on the cusp of dramatically increasing our business in Colombia and Turkey.
We will not measure our progress by simply looking at the monthly trade deficit.
We’ll do it by providing secure jobs to unemployed steelworkers, as we did at the Gamesa plant in Langhorne, Penn., through guaranteed financing to sell their wind turbines to a Honduran farm.
We’ll do it by helping small businesses get more goods to more countries, as we did when we sat down with the owner of Miami-based DemeTech and his bank to help put together a financing package to export the company’s surgical equipment. Then we’ll do it again. One transaction at a time.
The trade imbalance won’t right itself overnight, but rapidly growing the amount of goods and services that Americans export is clearly the best way to reduce the deficit in the long run. By focusing on the progress we’ve made — not the gap that remains — we will energize U.S. businesses and ensure that our companies don’t miss foreign export opportunities.
For questions, contact:
Maura Policelli
Senior Vice President, Office of Communications
Export-Import Bank of the United States
The Dallas Regional Chamber along with our partners TechAmerica and The University of North Texas are hosting the U.S./Mexico Technology Summit September 30th (with an inaugural dinner on September 29), a forum that will focus on a bilateral partnership that drives innovation and increases economic prosperity in on either side of the U.S./Mexico border.
Today we would like to offer our readership a guest blog from our dinner keynote speaker and participant in the forum, Roberto G. Newell.
Newell is the CEO of the Mexican Institute for Competitiveness, AC, a privately sponsored, independent think tank in Mexico City whose mandate is to analyze and propose policies that will enhance Mexico’s competitiveness in the global economy. During 2003 he served as deputy secretary for agribusiness in Mexico’s federal government. Previously he served in the same administration as CEO of the Fideicomiso de las Empresas Expropiadas del Sector Azucarero. From 1984 to 2001, Newell worked for McKinsey & Company, retiring as director. At McKinsey he served clients in Mexico, the United States, Venezuela, Colombia, Peru, Ecuador, Argentina, Spain, Jamaica, Puerto Rico, and the Dominican Republic. He is the author of two books and has published many articles in journals and international professional publications. He currently writes weekly for the Reforma journal. Roberto earned a bachelor’s and master’s degree from Universidad de las Americas in Mexico and a PhD in economics from the University of Texas at Austin.
The points of view in this column are personal. These are not to be viewed as the position of or opinions of the Dallas Regional Chamber or its staff.
Liberal conviction
Peso Crisis
May 13, 2010
The crisis has been discussed by many analysts. What has drawn most of the attention is the impact it has had on economic growth, trade flows and employment. However, it has triggered other important events. One of them, which has not been discussed enough, is the impact on the commercial terms of trade.
Most analysts use the September 17, 2008 to mark the beginning of the financial crisis. That was the day that the U.S. Treasury intervened Lehman Brothers. Since then, everything changed.
In those days, one dollar bought 0.70 Euros, 6.83 Yuan and 10.69 Pesos. Those were the days of the super-Peso. The country’s currency was revalued on a sustained basis, compounding the problems of competitiveness for exporting companies and exposing thousands of local companies to the challenge of a hyper-competitive offer from China and other countries. All this has changed.
As can be seen in the table below, the crisis transformed trade terms dramatically. Today, the exchange rate helps competitively Mexican exporters and imported goods that reach the country are more expensive, no matter where they come from. The crisis gave a huge competitive edge to all companies which produce locally.
| Depreciation/appreciation post-Crisis(Period: 17/09/08 a 10/05/10) | ||||
| Dollar | Euro | Yuan | Peso | |
| Dollar | 0 | 9.7% | -0.14% | 16.9% |
| Euro | -8.8% | 0 | -9.0% | 6.6% |
| Yuan | 0.1% | 9.8% | 0 | 17.0% |
| Peso | -14.4% | -6.2% | -14.6% | 0 |
Source: International Financial Statistics, IMF.
Mexico has gained competitiveness compared with producers around the world, including China. With respect to these, the crisis improved the country’s competitiveness more than 14%. For companies that produce locally competitive improvement was even more significant: from their perspective, the effect was to make 17% more expensive the imports from China. In one stroke, the crisis caused thousands of companies to recover part of the competitive costs they had lost.
I highly doubt the peso will significantly rise its value in the years to come. Three of the major sources of revenue have lost its momentum: oil production is collapsing, remittances have dropped to reflect the employment situation of Mexicans living in the United States, and consumption of American families is depressed and will possibly not regain its pre-crisis level.
But come what may, the purpose of companies operating in Mexico must be to avoid losing the competitive edge afforded by the current exchange rate. To achieve this, is essential to improve the productivity of all factors used in production. Yes, it can be done: Over recent years, companies in the country have improved its energy productivity, today they consume less energy per unit produced than in 2000. Thus, despite the energy consumed in Mexico is more expensive,this has not affected the competitiveness of most businesses. In contrast, during the same period, the unit costs of labor progressed more quickly than import prices and labor productivity. The last one has been stagnant for years. Urgent actions are required on this front: Labour productivity is the Achilles heel of Mexican companies.
In any case, we are in a unique situation. Historically, the depreciation of the peso have been the result of errors in the management of fiscal and monetary aggregates in the country. This time, the depreciation of the peso is not directly attributable to the government or central bank. The peso lost value even when in general terms no mistakes were made in managing the macro-economy.
It is likely that the current level of the exchange rate reflects the market opinion regarding the general competitive situation in the country. The exchange rate reflects the fact that we are gradually healing of the disease in the Netherlands that kept the peso artificially strong. Today, neither the oil market, or remittances of migrants provide the financial cushion upon which rested the previous terms of trade.
In the absence of these factors, the current exchange rate seems realistic and up wind to the intrinsic conditions to generate foreign exchange in Mexico. The current exchange rate seems more sustainable than it was before the Crisis. The depreciation of the peso partly restored the competitiveness of the real sectors of the economy.
The forces of supply and demand cast their vote. Will the business and public officials know how to take advantage of the new terms of trade?
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The Dallas Regional Chamber along with our partners TechAmerica and The University of North Texas are hosting the U.S./Mexico Technology Summit September 30th (with an inaugural dinner on September 29), a forum that will focus on a bilateral partnership that drives innovation and increases economic prosperity in on either side of the U.S./Mexico border.
Today we would like to offer our readership a guest blog from our dinner keynote speaker and participant in the forum, Roberto G. Newell.
Newell is the CEO of the Mexican Institute for Competitiveness, AC, a privately sponsored, independent think tank in Mexico City whose mandate is to analyze and propose policies that will enhance Mexico’s competitiveness in the global economy. During 2003 he served as deputy secretary for agribusiness in Mexico’s federal government. Previously he served in the same administration as CEO of the Fideicomiso de las Empresas Expropiadas del Sector Azucarero. From 1984 to 2001, Newell worked for McKinsey & Company, retiring as director. At McKinsey he served clients in Mexico, the United States, Venezuela, Colombia, Peru, Ecuador, Argentina, Spain, Jamaica, Puerto Rico, and the Dominican Republic. He is the author of two books and has published many articles in journals and international professional publications. He currently writes weekly for the Reforma journal. Roberto earned a bachelor’s and master’s degree from Universidad de las Americas in Mexico and a PhD in economics from the University of Texas at Austin.
The points of view in this column are personal. These are not to be viewed as the position of or opinions of the Dallas Regional Chamber or its staff.
Liberal Conviction
PEMEX and the tragedy of the Gulf
May 20, 2010
The explosion of the Deepwater Horizon on April 20th killed 15 workers. The platform leased by BP to drill in deep waters sank 36 hours later and now lies 1,500 meters below the surface of the Gulf.
Deepwater Horizon was a highly sophisticated machine. Worth over one billion dollars, was designed to operate at extreme depths. The ship had the international record of drilling in deep water. Macondo Prospect, the well where she worked when it sank, was not an unusual challenge for this great ship which had already drilled a hole deeper than 10.680 meters.
Days after the explosion, oil continues to be shed. At least 5,000 barrels, equivalent to 800,000 liters each 24 hours. But this quantity, which is the official figure used by BP and the U.S. government, seems to underestimate the situation. Some experts believe the real leak is twenty times larger.
The largest oil spill in history is from Ixtoc well, drilled by PEMEX in the seventies. Ixtoc spilled an estimated 530 million barrels. To reach the same level, the current spill would have to last at least 33 days at the rate above mentioned, and 663 days if the official figures are correct.
In any case, Macondo Prospect will have a huge impact on the environment. At deep waters environmental damages are difficult to calculate, but become increasingly visible and expensive as long as they move towards the Gulf Coast. Many marine species live and breed in shallow waters near the coasts. This will affect several generations of these species, since the concentrations of oil will take years to be reduced to levels that can be tolerated by marine life.
It is still early to know the economic impact of the environmental tragedy that is underway. What is certain is that it will exceed the costs of any other so far accounted, due to the under size of the spill, as well as the increasing environmental awareness and ability of the Americans to estimate the economic and ecological effects. It would not surprise me if the final cost of the damage is comparable to major natural disasters like those of the Hurricane Andrew or the Chilean earthquake.
The economic magnitude of the tragedy stems from the fact that they are working in extremely inhospitable conditions. The well of BP was at 1,500 feet below the sea surface. At that depth the atmospheric pressure is 150 times higher than the standard pressure at sea level, and every square inch of surface supports a pressure equivalent to several tons. Any design flaw threatens the operation of these delicate and costly machinery operating under these conditions 24 hours a day during the operating life of the well.
The most promising production areas of PEMEX are located at significantly deeper water than those BP was developing in the Gulf. To produce oil in the area of the spill, BP raised a world-class team: had the services of Deepwater Horizon for operation in deep water and was using Halliburton to conduct the drilling. Globally, no one could have built a team with better technical skills to carry out the process.
Now imagine PEMEX in the same circumstances, working with all the limitations arising from the regulations governing the operation of public enterprises, trying to get rid of the obstacles imposed by the interests of the union and the company’s subcontractors, making it difficult to apply the highly rated service companies for comparable tasks and perhaps more complicated. Honestly, it gives me the creeps just to think about it.
PEMEX’s experience operating in deep waters is very limited (it has made only four wells at depths around one kilometer). Neither has much experience putting together world-class technical teams to operate in these conditions. Therefore, when taking the first steps in this direction must act with extreme caution. The risks that will be taken terrify me. We must not forget the lessons of Ixtoc, nor lose sight of what we know from experience of BP. Working in deep water is to operate in the roots of the devil.
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The Dallas Regional Chamber along with our partners TechAmerica and The University of North Texas are hosting the U.S./Mexico Technology Summit September 30th (with an inaugural dinner on September 29), a forum that will focus on a bilateral partnership that drives innovation and increases economic prosperity in on either side of the U.S./Mexico border.
Today we would like to offer our readership a guest blog from our dinner keynote speaker and participant in the forum, Roberto G. Newell.
Newell is the CEO of the Mexican Institute for Competitiveness, AC, a privately sponsored, independent think tank in Mexico City whose mandate is to analyze and propose policies that will enhance Mexico’s competitiveness in the global economy. During 2003 he served as deputy secretary for agribusiness in Mexico’s federal government. Previously he served in the same administration as CEO of the Fideicomiso de las Empresas Expropiadas del Sector Azucarero. From 1984 to 2001, Newell worked for McKinsey & Company, retiring as director. At McKinsey he served clients in Mexico, the United States, Venezuela, Colombia, Peru, Ecuador, Argentina, Spain, Jamaica, Puerto Rico, and the Dominican Republic. He is the author of two books and has published many articles in journals and international professional publications. He currently writes weekly for the Reforma journal. Roberto earned a bachelor’s and master’s degree from Universidad de las Americas in Mexico and a PhD in economics from the University of Texas at Austin.
The points of view in this column are personal. These are not to be viewed as the position of or opinions of the Dallas Regional Chamber or its staff.
Liberal conviction
A lower middle class life
May 29, 2010
European and American families will have to get used to a more austere and modest lifestyle, as the recent crisis made noticeable the fragile economic structures on which their standard of living lay on.
In America as of the nineties, families have spent almost all of their income in consumption. At 2007 only an average of 3% had savings and even millions of these families did not even do that. To maintain their acquisition level, many were heavily indebted, gambling everything on their incomes to continue to rise faster than the cost of servicing their debts. When the crisis came, their average debt amounted more than a year of their disposable income, with a situation so vulnerable that any blow to their profits would necessarily have adverse consequences.
The U.S. financial crisis started at the lowest income segment of the mortgage market, but quickly spread in to the entire real estate market. From 2008 to date, the dwelling value in this country plunged more than 40%. Currently, over three million homes are worth less than the balance of the mortgage debt which funded the assets. All these families lost what they had invested in their houses and the market adjustment has not yet finished.
Their economic prospects are not good. Even though the U.S. economy has been growing for over a year, employment has still not recovered. Accordingly, the disposable income of these families have not returned to the pre-crisis level. To make matters worse, in order to confront and stimulate the economy, the U.S. federal government acquired a huge public debt which eventually will have to pay by reducing public spending and raising taxes, with all that this implies for economic activity, employment and disposable income levels of the families
What became clearer after the crisis is that American families can not resume their life as if nothing had happened. Millions of them lost all they had invested in their homes, a wide proportion is unemployed and may soon have to pay higher taxes. Americans will have to get used to living with a lower consumption level, aligned to a new reality.
At the Eurozone the families were more cautious saving about 15% of their disposable income, and in the wider European community, savings rated 10 percent. One would think that in relative terms, the Europeans were acting more responsibly, but not, for several reasons: First, because before the crisis the Europeans had lower-income than the Americans and were growing slower. Second, because their population is aging faster than the American population and therefore, the working population available to cover the cost of European social benefits package will soon be decreasing. Finally, because the public finances of many European countries (Greece, Italy, Portugal, France, Spain, Belgium, Austria, Ireland and several others) are not enough to address the pensions liabilities which these governments have acquired with their population.
European families face a similar situation as the Americans. They will also have to reduce future living standards. The European dream of working relatively light journeys for a few years, enjoy long holiday periods and retire at a relatively young age, is over.
Whoever wants to achieve this dream will have to save a far higher proportion of his income for many more years than those originally planned.
The recent economic crisis in the Eurozone countries reveals that the premises of the European dream were as false as the premises of the American dream. In both cases people will have to get used to a new reality. The economic crisis in the two continents shows that you can not live outside the parameter without obtaining, sooner or later, a reckoning.
Mexican politicians would do well to review the premises upon which the Mexican dream is built on. They continue acting and taking decisions as if the rubber band could be stretched infinitely.
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