01242020Fri
Last updateFri, 24 Jan 2020 7pm

Meltdown 101: The Economic Peril of Inventories

As the recession deepens, a sharp falloff in sales has left many American companies with growing stockpiles of products and materials, from cars to computer equipment to steel.

That can translate into lower prices for consumers — but it's bad news for the economy as a whole.

Source: Associated Press

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Is Commerce Dept. Built Ford Tough?

Harold Ford Jr. for Commerce Secretary? It's something a few Democrats around town are pushing and, according to sources, the idea of appointing the former Tennessee Congressman is being given serious thought by folks high up in the Obama administration.

Source: Chuck Todd, NBC

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Manufacturing Accounts for 35% of Q4 Mass Layoffs

Employers initiated 3,140 mass layoff events in the fourth quarter of 2008 that resulted in the separation of 508,859 workers from their jobs for at least 31 days, according to preliminary figures released February 13 by the U.S. Department of Labor's Bureau of Labor Statistics. Extended mass layoff events and separations reached their highest levels in program history (with data available back to 1995).

Source: Reliable Plant

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Commodity Price Declines Will Continue Through the Winter

The construction materials price index dropped 7.8% from September to December and is expected to decline, albeit more slowly, through the winter as worldwide commodity demand continues to shrink. Commodity prices fell in January again for metals, lumber and some energy based products because construction activity and manufacturing production are now declining in most major countries and commodity inventories are well above normal levels.

Source: Reed Construction Data

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Business Groups That Sought Tax Cuts Now Back Centrist-Brokered Stimulus

Business groups that had been pushing for additional tax cuts in the stimulus bill are now urging lawmakers to support a package negotiated by Senate centrists from both parties.

The National Association of Manufacturers (NAM) and U.S. Chamber of Commerce are both supporting the Senate bill, and NAM may make the Senate’s vote on the bill a “key vote.” That means lawmakers would be scored on their votes.

Source: The Hill

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