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Op-Ed: Wall Street, Fall 2009

Pass the Hamburger Helper and the Milwaukee’s Best. Broom that interior decorator; Ikea’s got some dynamite furnishings. Boy, those public schools sure look better than I thought—what was so great about Dalton or Nightingale-Bamford or Saint Ann’s, anyway? Those Koreans make fabulous cars.

Source: Jim Cramer, New York Magazine

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NAM Supports Modernized Export Controls

The National Association of Manufacturers last week showed its support for a new export control procedure for Intra-Company Transfers or "ICT" -- exports from one part of a company to another part of the same company located abroad.

"The Intra-Company Transfer exception has been the NAM's number one dual-use export controls modernization priority," said NAM President John Engler.

Source: Industry Week

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Broad Job Losses Augur Recession Despite Bailout

U.S. employers shed jobs last month at the fastest pace in five years, as weakness in the job market spread from the ailing manufacturing industry into services and even the public sector.

Nonfarm payrolls declined 159,000 in September, more than double the average pace throughout the year, the Labor Department reported. The unemployment rate, based on a separate survey of households, held at 6.1% after a sharp increase in August.

Source: Wall Street Journal

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U.S. Manufacturing Falls Sharply: ISM

The Institute for Supply Management said its index of manufacturing activity came in at 43.5 compared with 49.9 in August and 50.0 in July.

Readings below 50 indicate contracting economic activity. The September number was the lowest since October 2001.

Source: Dow Jones Newswires

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U.S. Manufacturing Dodges Bullet

The plunge in commodity prices from record highs is being viewed as a precursor to a worldwide recession and not for its deflationary impact, which could, in time, alleviate industrial cost pressures, reduce consumer expenses and set the stage for emergency central bank rate cuts.

Despite the credit crunch, the U.S. manufacturing sector - apart from housing, cars and airlines - has largely been immune to the crisis so long as their share price plunges are ignored.

Source: The Globe and Mail

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