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ASA Home   Membership   Education   Advocacy   Networking   Benchmarking Dec. 13, 2012


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PVF Icon Beschloss Joins ASA as Industry Analyst
American Supply Association    Share   Share on FacebookTwitterShare on LinkedinE-mail article
ASA recently announced that PVF industry icon Morris Beschloss has joined the association as its industry analyst as part of a broader agreement that will include his expertise through features in the association's media outlets. In this new capacity, Mr. Beschloss will provide analysis to association senior staff and volunteer leaders of their Industrial Piping Division on PVF trends in key segments such as energy, chemical and industrial markets. His vast array of knowledge in these areas will assist the association in the continued development of its ongoing strategic planning to best position ASA members for long-term success. More

Surf's Up: Wave of Healthcare Regulations Has Begun
American Supply Association    Share    Share on FacebookTwitterShare on LinkedinE-mail article
In last week's ASA Insights, we discussed the looming tax changes as a result of the Affordable Care Act. As we noted, regardless of the outcome of the pending "fiscal cliff," more than 20 new tax increases will soon be coming to begin paying for the law's implementation. More

US Government Study Clears Decks for Accelerated Natural Gas Export
The Desert Sun    Share    Share on FacebookTwitterShare on LinkedinE-mail article
In a finding that could help create a major industry of natural gas exports for the United States, a government study released Dec. 5 concluded that the expansive economic benefits of aggressively growing natural gas exports far outweighed both soaring energy prices and potential climatic dangers, causing additional ecological problems. The study, prepared by NERA Economic Consulting for the U.S. Energy Department, said that domestic prices would not rise sharply as a result of these outbound shipments. Further, it stated that revenues from such exports would generate billions of dollars of badly needed new funds for the U.S. Treasury. More

Fiscal Cliff Update: It's Not Taxes; It's Not Spending — It's the Debt Limit
American Supply Association/NationalJournal    Share    Share on FacebookTwitterShare on LinkedinE-mail article
Millions of words, thousands of interviews and hundreds of hours have been devoted to guessing the level to which our tax rates may get raised, and how much and where the spending cuts will come from. Neither of these represents the greatest hurdle and/or threat to our economy as raising the debt limit. While a majority of Republicans want to maintain existing tax rates, coupled with targeted reduction in spending rather than the ax of sequestration, it is unsure what they will ultimately get out of the negotiations. Conversely, by his own public statements, the president wants to raise taxes on the top 2%. With this being said, he has not committed to reductions in spending. Both sides have their wants to further their political agenda, but by law only one side has a specific need. By March, the Treasury's ability to borrow to continue financing government operations expires without Congress' authorization of a debt-ceiling increase. More

October Wholesale Trade Revenues Down 1.2% from September
Modern Distribution Management    Share    Share on FacebookTwitterShare on LinkedinE-mail article
Wholesale trade revenues for October were $408.5 billion, down 1.2% from September and up 2.3% from October 2011, according to The U.S. Census Bureau. October sales of durable goods were down 0.9% from the prior month, but were up 1.5% from the prior year. Sales of motor vehicle and motor vehicle parts and supplies were down 3.1% from the prior month. Sales of nondurable goods were down 1.4% from September, but were up 3% from last October. Sales of petroleum and petroleum products were down 5.7% month-to-month. Total inventories were $497.1 billion, up 0.6% from September and up 6.6% year-over-year. More

US Trade Deficit in 3Q Manufactures Up 6% YOY
Modern Distribution Management    Share    Share on FacebookTwitterShare on LinkedinE-mail article
The U.S. trade deficit in manufactures continued to rise in the third quarter 2012 compared with 2011, according to a new report from the Manufacturers Alliance for Productivity and Innovation. At the same time, the Chinese surplus continued to increase, but at a slower pace than in the first half of 2012. In The U.S. Trade Deficit in Manufactures and the Chinese Surplus Continued to Rise in the Third Quarter, Ernest H. Preeg, MAPI senior advisor for international trade and finance, highlights that the U.S. global trade deficit in manufactures rose by 6%, or by $8 billion, in the third quarter of 2012 compared with 2011, while the Chinese surplus increased by 4%, or by $7 billion. More

GOP Pits Small Business vs. Corporate CEOs in Tax Fight
The Hill    Share    Share on FacebookTwitterShare on LinkedinE-mail article
Top Republican lawmakers are pitting small businesses against big corporations in their push to keep individual tax rate increases out of any "fiscal cliff" deal. Republican tax-writers lashed out in recent days at both the White House, for pushing corporate tax reform in a deal, and at chief executives, for saying they could get onboard with tax-rate hikes. More

Crafting a Boom Economy
POLITICO    Share    Share on FacebookTwitterShare on LinkedinE-mail article
Most politicians in the most powerful positions in Washington agree in private that there are a half-dozen or so big things they could and should do that could put a rocket booster on the U.S. economy — but they are too timid to say it in public. This is the clear takeaway from conversations we have had over the past three months with top lawmakers, officials, their senior aides and the CEOs who advise and lobby all of them. Many of the conversations were private, but many were not. More

Fed Ties Rates to Joblessness, With Target of 6.5%
The New York Times    Share    Share on FacebookTwitterShare on LinkedinE-mail article
The Federal Reserve made it plain Wednesday that job creation had become its primary focus, announcing that it planned to continue suppressing interest rates so long as the unemployment rate remained above 6.5%. It was the first time the nation's central bank had publicized such a specific economic objective, underscoring the depth of its concern about the persistence of what the Fed chairman, Ben S. Bernanke, called "a waste of human and economic potential." To help reduce unemployment, the Fed said it would also continue monthly purchases of $85 billion in Treasury securities and mortgage-backed securities until job market conditions improved, extending a policy announced in September. More

Copper Prices Fall as US Data Offset Support From Dollar
The Wall Street Journal    Share    Share on FacebookTwitterShare on LinkedinE-mail article
Copper prices fell after a report showing the U.S. trade deficit for October widened more than expected eclipsed support from a weaker dollar and stronger economic data from Germany. The most actively traded contract, for March delivery, was recently down 1.80 cents, or 0.5%, at $3.6880 a pound on the Comex division of the New York Mercantile Exchange. The. U.S. trade deficit for October widened to $42.24 billion from September's $41.55 billion, and exceeding forecasts of $42.1 billion. More

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