Last updateFri, 07 Dec 2018 3pm


Tax Stalemate Creates Friction Between GOP, Business Allies

Senate Republicans are engaged in an uncomfortable battle with some of their traditional allies in business after twice blocking an effort to extend a variety of tax breaks.

Nearly 400 companies, including Goldman Sachs, General Electric and Harley-Davidson Motor, have signed a letter urging the Senate to approve the bill, which has already passed the House.

Source: Washington Post

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IMF Presents Brighter Outlook for U.S. Economy

The International Monetary Fund presented a rosier outlook for the U.S. economy this year and next but said financial-sector troubles and accelerating inflation continue to challenge policy makers.

In its annual review of the U.S. economy, measuring growth on an average basis for 2008 as a whole, the IMF raised its growth forecast Friday to 1.1%. It increased its 2009 estimate to 0.8%.

Source: Wall Street Journal

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No-Recession Forecast Hinges on Unemployment Data

Citing disconnects in various economic indicators, the latest UCLA Anderson Forecast sticks with a no-recession theme but notes that the latest unemployment numbers -- if they hold -- "strongly favor the hypothesis that we are in recession."

Market analysts and economists have a wide range of opinions on the recession question, and former Federal Reserve Chairman Alan Greenspan said this month that the chance of a severe recession is diminishing.

Source: Inman

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Garlock Forms Applications Engineering, Training Unit

Garlock Sealing Technologies has formalized its applications engineering, training and customer support functions with the creation of a dedicated unit under the leadership of Matt Tones, a 15-year veteran and third-generation employee of the company.

The new unit will work on a cross-functional basis with Garlock’s engineering, product development, customer support, sales and marketing departments to bring the company’s extensive knowledge base to these activities.

Source: Garlock Sealing

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