In this Aug. 18, 2020, file photo, mail delivery vehicles are parked outside a post office in Boys Town, Neb. Oshkosh Defense says, Tuesday, June 22, 2021, it will make new delivery vehicles for the U.S. Postal Service in Spartanburg, S.C., creating 1,000 new jobs. The Wisconsin company says it will reconfigure a warehouse with features needed to do large-scale manufacturing. (AP Photo/Nati Harnik, File)
DETROIT (AP) — Oshkosh Defense will make new delivery vehicles for the U.S. Postal Service in Spartanburg County, South Carolina, creating 1,000 new jobs.
The Wisconsin company on Tuesday said that it will reconfigure a warehouse with features needed to do large-scale manufacturing. Parts supply companies are expected to create more jobs in the area.
Gov. Henry McMaster said Oshkosh will invest $155 million in Spartanburg County.
In February, Oshkosh Defense won the multi-billion-dollar contract to build the Postal Service's next generation delivery vehicle. The company will build 50,000 to 165,000 van-like vehicles during the next 10 years, replacing a fleet that is up to three-decades old.
Some of the vehicles will be powered by batteries, while others will have internal combustion engines. The exact mix has not been decided yet.
Also Tuesday, Ford Motor Co. said its component sales subsidiary would make parts for the Postal Service vehicles, both electric and gasoline-powered. The automaker said the engines and transmissions would be made in Michigan, plus suspensions and other components.
Oshkosh said production in South Carolina is expected to begin in the summer of 2023, the company said Tuesday.
Oshkosh Defense, which mainly builds military vehicles, is a wholly owned subsidiary of the Oshkosh Corp. 7 Tech Stocks That Are Heating Up as Anti-Trust Talk Cools Down
For the better part of the last year, Congress has had “big tech” in its crosshairs. But the reasons why largely depend on what side of the aisle a particular individual was on.
On the one hand, there are politicians who are concerned about the role that technology companies play in restricting the free flow of information. On the other hand, there are politicians that are concerned about these companies' stranglehold on competitors and innovation.
But big tech scored an important, albeit not final, victory in late June. At that time, a U.S. judge dismissed two separate complaints against Facebook (NASDAQ:FB). The question in front of the judge was whether Facebook held a monopoly on social media. Due to a surge in the company’s stock price after the ruling, Facebook became a member of the exclusive $1 trillion market cap club.
While big tech companies will remain under the Congressional microscope, there’s no denying that investors are looking at the ruling as a signal to rotate back into tech stocks. And that’s the focus of this presentation. What tech stocks should you be buying as anti-trust pressure eases?
It would be easy to start and end the list with the FAANG stocks. After all, the motto “Keep it Simple Stupid” comes to mind. There are simply those companies that offer products that are changing our lives now and will continue to do so in the future. And furthermore, customers will continue to pay for their products.
And I do have a couple of these stocks on my list. But the bulk of the stocks on this list are less expensive alternatives to at least one of the FAANG stocks. It doesn’t mean they’re superior companies, but a rising tide tends to lift all boats. And that means these companies have a large upside and you can purchase the stocks for a lot less. View the "7 Tech Stocks That Are Heating Up as Anti-Trust Talk Cools Down"
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