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Top Headlines:

• Retail sales post big gain in September as consumers show unexpected strength (CNBC)
• Health experts say ‘herd immunity’ strategy would kill thousands (The Hill)
• Covid-19 Battle to Intensify as Winter Sets In (The Wall Street Journal, subscription)

White House Pushes Anti-Counterfeiting Measures

The Trump administration released a presidential memorandum this week aimed at stopping the flow of counterfeit goods—a big win for manufacturers, and a victory for the NAM, which has pushed aggressively for safeguards against fake products and intellectual property theft.

Why it matters: According to the NAM’s research, fake and counterfeit products cost the United States $131 billion and 325,000 jobs in 2019 alone. In the midst of the global pandemic, as American manufacturers work to deliver day-to-day necessities as well as medical products, therapeutics and treatments, it’s more important than ever to root out counterfeit items that can put lives and livelihoods at risk.

The groundwork: The move follows a report released by the NAM in June, titled “Countering Counterfeits,” which proposed solutions for Congress, the administration and the private sector, including:

• Requiring e-commerce platforms to reduce the availability of counterfeits;
• Modernizing enforcement laws and tactics to keep pace with counterfeiting technology;
• Streamlining government coordination to tackle counterfeit items;
• Improving private-sector collaboration; and
• Empowering consumers to avoid counterfeit goods.

The improvements: Many of the NAM’s proposed solutions made it into the memorandum, including a call for legislative action, a directive to focus on counterfeits sold online, a push for better government coordination and a focus on holding e-commerce platforms more directly accountable. The document also expanded the definition for “counterfeit goods” to “deceptive and misleading use in commerce of marks, including trademarks, goods that are trademarked and trade names”—a broader definition that will provide manufacturers more protection.

The last word: “Innovation and intellectual property are the backbone of the manufacturing industry, and America is a global leader on these issues,” said NAM Director of Innovation Policy Stephanie Hall. “This presidential memorandum represents a vital step in protecting the hard work of American manufacturers and strengthening our ability to compete and win around the world.”

NAM Joins Lawsuit to Defend SEC Victory

The NAM is intervening in a lawsuit to help the Securities and Exchange Commission defend a hard-won SEC rule that protects manufacturers and increases oversight of proxy advisory firms.

The background: Investment advisers and fund managers can vote on the policies of companies in which their funds invest. These fund managers often turn for assistance to proxy advisory firms, which recommend which way to vote. The problem is that proxy advisory firms have never been subject to SEC oversight, and as a result, their work has relied on questionable methodologies and ignored conflicts of interest—often causing problems for manufacturers and their shareholders.

The win: After years of NAM advocacy, the SEC approved a landmark rule to regulate proxy advisory firms and increase transparency about the firms’ conflicts of interests and one-size-fits-all methodologies. This was a big victory for the NAM and for manufacturers nationwide.

The lawsuit: Now, proxy advisory firm Institutional Shareholder Services has sued the SEC to stop the rule from going into effect—and the NAM is stepping in to protect the progress it’s made.

• What we’re doing: The NAM is filing a motion to intervene in the case—which essentially means that, if the motion is granted, it will become a party to the lawsuit, mounting its own defense of the rule in court and participating on the same schedule as the SEC. By taking on the role of intervenor, the NAM will be better able to protect members’ interests and ensure the court understands why the rule is vital to manufacturers.

The bottom line: “The SEC’s rule on proxy advisory firms wasn’t just a victory for the NAM; it was a victory for accountability and transparency, and a victory for manufacturers across the country,” said NAM Senior Litigation Counsel Erica Klenicki. “We are committed to defending this rule in court to ensure that manufacturers’ voices are heard and that manufacturers and manufacturing workers have the protection and support they deserve.”

Manufacturers with less than 100 employees: Is your company ready for open enrollment? Ensure that you are offering the most complete coverage at the best possible cost. NAM Health Care provides small- and medium-sized manufacturers a way to deliver quality health care often found only at large employers. Learn more.

The Stimulus Drama Takes Another Turn

Yesterday, President Trump said “I would go higher” than the $1.8 trillion stimulus proposed by Treasury Secretary Steven Mnuchin in his negotiations with House Speaker Nancy Pelosi. It’s the latest twist in the confusing saga of these talks, which show little sign of achieving a deal before Election Day, as The Washington Post (subscription) reports.

The state of play: While Mnuchin and Pelosi have spent days talking, Trump keeps changing his approach—and the dollar figure—via Twitter or press interviews. Meanwhile, Senate Majority Leader Mitch McConnell (R-KY) seems to be taking a step back from these talks while Republican senators pursue a smaller, $500 billion proposal next week.

McConnell said in response to Trump’s call for more spending: “That’s where the administration’s willing to go. My members think what we laid out, a half a trillion dollars, highly targeted, is the best way to go.”

• Pfizer sees emergency use filing for Covid-19 vaccine after U.S. election (CNBC)
• Allegion Aims to Bridge Manufacturing Skills Gap (Inside Indiana Business)
• AT&T Communications CEO on what 5G will mean for U.S. customers (CNBC)
• General Mills CEO: Breakfast cereal still No. 1 in US (Fox Business)