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ASA Home   Membership   Education   Advocacy   Networking   Benchmarking Nov. 15, 2012

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Supply House Times to Highlight Leading ASA Distributors for Third Consecutive Year
American Supply Association    Share   Share on FacebookTwitterShare on LinkedinE-mail article
Beginning with the January 2013 issue of Supply House Times, six prominent ASA distributor members will once again be featured in a two-part, in-depth interview. ASA partnered with their official publication to facilitate the interview panel during NetworkASA 2012 in Orlando, Fla., in order to bring the industry valuable and relevant information to better prepare for the coming year. More

See the New Faces in Washington
American Supply Association    Share    Share on FacebookTwitterShare on LinkedinE-mail article
The recent elections not only decided the chief executive for the next four years, but will also usher in more than 80 new members of the House and Senate. (Five races have yet to be decided.) Some of these have prior experience in Congress, some have none. After a cycle that saw a 20-year high of seats without incumbents seeking re-election, according to 2012 ASA Legislative Fly-In speaker David Wasserman, at least one-third of the 113th Congress will feature House members with less than three years of experience. For more than a few, the House of Representatives continues to be their first experience in elected office. More

Budget Deficit Rises to $120 Billion in October
Reuters    Share    Share on FacebookTwitterShare on LinkedinE-mail article
The budget deficit rose in October, the first month of fiscal year 2013, as looming negotiations over expiring tax cuts and imminent spending reductions dominated the post-election political landscape. The Treasury said Tuesday the October deficit was $120 billion, larger than economist forecasts for a $114 billion gap and up from $98 billion in October of 2011. Growth in expenditures outpaced rising receipts, deepening the deficit. Outlays grew to $304 billion from around $262 billion in the same month last year while receipts rose to $184 billion from $163 billion. More

September Wholesale Trade Revenues Up 2% from August
Modern Distribution Management    Share    Share on FacebookTwitterShare on LinkedinE-mail article
Wholesale trade revenues for September were $414 billion, up 2% from August and up 4.4% from September 2011, according to The U.S. Census Bureau. September sales of durable goods were up 1.2% from the prior month and up 2.8% from a year ago. Sales of electrical and electronic goods were up 3.7% from last month. Sales of metals and minerals, except petroleum, were up 2.5%. More

Geithner: Higher Income Tax Rates Can't Be Avoided
Bloomberg    Share    Share on FacebookTwitterShare on LinkedinE-mail article
Treasury Secretary Timothy F. Geithner said it will be necessary to raise personal income tax rates on the wealthiest Americans to reduce long-term budget deficits, because capping deductions won't raise enough revenue. President Barack Obama is "not prepared to extend the upper-income tax cuts," Geithner said at The Wall Street Journal's CEO Council meeting in Washington. "There's obviously universal support for the middle-class tax cuts. Doing that would remove the greatest source of anxiety and much of the greatest risk in the fiscal cliff." More

Q&A: How To Handle Your Supply Chain When Natural Disasters Strike
Industrial Distribution    Share    Share on FacebookTwitterShare on LinkedinE-mail article
Industrial Distribution had a chance to speak with Siva Paramasivam, the Senior Manager of Supply Chain Operations at Deloitte Consulting, a company that helps supply chain organizations continue to grapple with globalized markets and operations, pricing pressures and increased customer expectations. In this challenging environment, forward-looking insights combined with disciplined execution can help organizations ensure that their supply chain is healthy and robust, helping to assuage the impact of unexpected chaos, like the recent Hurricane Sandy that hit the East Coast. More

Copper Swings Between Gains and Drops on Fiscal-Cliff Concern
Bloomberg    Share    Share on FacebookTwitterShare on LinkedinE-mail article
Copper swung between gains and drops in New York amid concern about whether U.S. politicians can avoid the combination of tax increases and spending cuts known as the fiscal cliff. President Barack Obama must reach agreement with Republican lawmakers who kept control of one chamber of Congress in last week's election. Treasury Secretary Timothy F. Geithner said it was "deeply implausible" that Republicans would force the U.S., the world's second-biggest copper consumer, over the cliff. More

China Steel Prices Still Face Headwinds
Reuters    Share    Share on FacebookTwitterShare on LinkedinE-mail article
A recent rally in steel prices in China, the world's top steel market, may lose steam as overcapacity continues to eat into steelmakers' margins, offsetting a recent drop in inventories, the China Iron & Steel Association said. Total inventories of five main steel products including hot-rolled coil and rebar in 26 major markets fell 2.8 percent from the end of October to 12.08 million tonnes on Nov. 9, CISA said in a statement on its website. More

Manufacturing Skills Gap Not Severe — Yet
Crain's Cleveland Business    Share    Share on FacebookTwitterShare on LinkedinE-mail article
The country's so-called skills gap in advanced manufacturing "is more limited than many people think and shouldn't prevent, or even stall, the U.S. manufacturing renaissance, at least for a while." However, genuine and severe shortages "are likely to develop" soon, and industry and government "need to take steps now to prevent them and make sure that enough new talent enters the right trades." So writes Harold L. Sirkin, a partner at Boston Consulting Group, in a strong post for Bloomberg Businessweek. According to his firm's estimates, the United States today is short about 80,000 to 100,000 highly skilled manufacturing workers, with welders, machinists and industrial machinery mechanics in shortest supply. More

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