ASA Insights
Jun. 14, 2012

Ready to Pay the IRS Half of Your LIFO Reserve? Say No Today!
American Supply Association
A repeal of LIFO would take an act of Congress. Many Members of Congress are taking the threat seriously, and bipartisan groups of legislators are meeting to discuss deficit reduction options and tax reform before the Dec. 31 expiration. Action to address the fiscal crisis is critically needed, but the increased focus on the growing debt has put LIFO at great risk — perhaps the greatest seen in years. The President called for repeal again in his Fiscal Year 2013 Budget, and pushed aggressively for repeal in deficit reduction talks last year.More

ASA, Other Industries Continue LIFO Battle
American Supply Association
As most know, tax reform continues to be an issue elected officials speak about, but have yet to take action on. In light of that progress, the LIFO Coalition, of which ASA is an active participant, has written the Obama administration's Office of Management and Budget on their continued misguided view of the benefits of repealing this accounting tool. Our response carefully rebuts the administration's positions. More

OPR Participation Deadline Extended Through Tomorrow
American Supply Association
For 30 years, ASA's Operating Performance Report has helped our industry craft and communicate a meaningful message to our elected officials in Washington, D.C., so that they better understand how their decisions affect your business, AND it is a PHCP and industrial PVF wholesaler's single best resource for complete, accurate and up-to-date comparative financial performance information. The OPR is a prime example of a tangible benefit for an individual company as well as what can be accomplished for an industry when an association's members pull together. If your company has not already participated, please click here to download a complete copy of the survey questionnaire. The participation deadline has been extended through Friday, June 15.More

Wholesale Prices Fall by Most in Nearly Three Years
The Associated Press via Los Angeles Times
A steep drop in gasoline costs drove down a measure of U.S. wholesale prices in May by the most since July 2009. But outside the food and energy categories, prices increased moderately. The producer price index fell 1% in May, after dropping 0.2% in April, the Labor Department reported Wednesday. Gasoline prices dropped nearly 9%, the most in almost three years. Food costs also fell.More

US Supply Chain and Logistics Industry Continues Slow Rebound
Industrial Distribution
The Council of Supply Chain Management Professionals released its 23rd Annual "State of Logistics Report," presented by Penske Logistics, at a press conference at the National Press Club in Washington, D.C. The report reveals that total U.S. business logistics costs in 2011 rose to $1.28 trillion, a 6.6% increase from the previous year and accounting for 8.5% of the U.S. gross domestic product. The report, authored by transportation consultant Rosalyn Wilson of Delcan Inc., has tracked and measured all costs associated with moving freight through the U.S. supply chain since 1988.More

LEED 2012 Postponed to 2013, Renamed LEED v4
GreenSource
In a surprise move, the U.S. Green Building Council announced that it is postponing plans to ballot the next version of LEED until as late as June 2013. With this announcement, USGBC promises to keep LEED 2009 available for a full three years from now, although it intends to gradually ramp up incentives for teams to move to the new version of LEED during that time.More

US Economic Outlook Darkens Ahead of Vote
Reuters
The U.S. elections in November will be contested against the backdrop of an economy growing more slowly and creating fewer jobs than thought only a month ago, a Reuters poll of economists suggests. Underscoring the challenge for President Barack Obama as he campaigns for a second term, economists have reduced their forecasts for jobs growth throughout 2012 and lowered predictions for all of next year too.More

Realtors: US Home Supply Drops, Sellers Raise Prices
Reuters via CNBC
U.S. home buyers are snapping up houses at a faster pace this spring, but many homeowners remain reluctant to sell until prices edge up, data released Wednesday showed. The number of homes listed for sale fell 20.1% last month from a year earlier to 1.88 million, Realtor.com reported.More

Manufacturing Technology Orders Up 10.2% in April
Industrial Distribution
April U.S. manufacturing technology orders totaled $410.42 million according to AMT - The Association For Manufacturing Technology. This total, as reported by companies participating in the USMTO program, was down 17% from March but up 2.9% up when compared with the total of $398.73 million reported for April 2011. With a year-to-date total of $1.76 million, 2012 is up 10.2% compared with 2011. These numbers and all data in this report are based on the totals of actual data reported by companies participating in the USMTO program.More

Factory Jobs Moving Overseas — from China to US
TheStreet
Manufacturing jobs are on the move, and this time, they're headed to the U.S. More and more companies are "reshoring" parts of their operations, bringing a steady trickle of jobs from Chinese plants to American ones, The Wall Street Journal reports. With the dollar dropping, and Asian wages and shipping costs rising, producing goods overseas "is not as big of a no-brainer as it was 10 years ago," says the manager of a plant that recently won back Whirlpool's hand-mixer business.More