AMERICANS STILL CAUTIOUS IN AUGUST
September 1, 2010 – Today in Manufacturing.net
Nervous about jobs and an unraveling economy, shoppers spent -- at best -- only slightly more this August than last, according to data released Wednesday ... continue
September 1, 2010 – Quick Manufacturing News
Turnaround was underpinned by domestic orders Click to continue
FORMER UMA CHAIRMAN APPOINTED TO STATE BOARD
September 1, 2010 – Utah Mining Monthly NewsletterLOUIE CONONELOS APPOINTED TO STATE OF UTAH SCHOOL AND
INSTITUTIONAL TRUST LAND ADMINISTRATION BOARD OF TRUSTEES
On Wednesday, August 18, the Utah State Senate confirmed Louie Cononelos as a member of the State of Utah School and Ins titutional Trust Land Administration Board of Trustees (SITLA). Utah Governor Gary Herbert appointed Louie to the role, which by law had to be confirmed by the Utah State Senate.
The SITLA policymaking Board of Trustees is mandated to prudently and profitably manage more than 3 million surface acres of state-owned trust lands and more than 4 million acres of mineral lands for Utah schools and institutions.
Through sales, leases and royalties from that land, annual gross revenues approach $150 million dollars and all profits are given to Utah beneficiaries, which are primarily directed to public education. The board is also responsible for managing a Trust Fund of about $1 billion.
With this appointment, Louie will serve a six-year term and joins six other appointed Trustees throughout the state that are responsible for administering SITLA lands, revenue, and the trust fund.
Louie started his career with Kennecott Utah Copper in 1967. He has represented Kennecott Utah Copper and other Rio Tinto companies for more than 30 years in a wide variety of human resources, government, community, communications and external relations positions, and on the boards of numerous business and trade associations, public policy and community organizations.
“I can’t think of anyone more qualified to represent the State of Utah on this prestigious board. The appointment by Governor Herbert is a testament to Louie’s contributions to the mining industry and a reflection of his lifetime achievements. Louie will continue his role as Chief Advisor, Government and Corporate Relations-Americas for Rio Tinto during this assignment.
This is a tremendous honor, and I would like to congratulate Louie on his appointment”, said Kelly Sanders, President & CEO Kennecott Utah Copper.
September 1, 2010 – Quick Manufacturing News
Project is first to join federal, state, and local public and private resources to create a formal applied research/manufacturing cluster Click to continue
Project is first to join federal, state, and local public and private resources to create a formal applied research/manufacturing cluster Click to continue
September 1, 2010 – Quick Manufacturing News
"Since 2006, more than 24,000 people have been killed in drug violence in Mexico..." Click to continue
"Since 2006, more than 24,000 people have been killed in drug violence in Mexico..." Click to continue
JULY UNEMPLOYMENT RISES IN METRO AREAS
September 1, 2010 – LateWire from Manufacturing.net
Unemployment rate rose in nearly half of the nation's 374 largest metro areas in July, as the pace of hiring slowed from earlier this year ... continue
Unemployment rate rose in nearly half of the nation's 374 largest metro areas in July, as the pace of hiring slowed from earlier this year ... continue
September 1, 2010 – The Hill
The Commerce Department has not to investigate allegations by US manufacturers that China subsidizes its exports by undervaluing its currency. According to the US Commerce Department, "the petitioners failed to make their case."
The Commerce Department has not to investigate allegations by US manufacturers that China subsidizes its exports by undervaluing its currency. According to the US Commerce Department, "the petitioners failed to make their case."
US trade organizations "argued the department should impose countervailing duties because of China's policies that keep their currency undervalued in relation to the dollar."
REINING IN 2011 EARNINGS GROWTH EXPECTATIONS
September 1, 2010 – Zions Direct
Strong Numbers This Year Make It Difficult To Show YOY Growth In 2011
Strong Numbers This Year Make It Difficult To Show YOY Growth In 2011
Profit growth is edging higher for U.S. companies and analysts are scrambling to hike their 2010 estimates. That’s the good news.
The bad news may be its impact on 2011. At the start of this year, analysts were projecting better than 30 percent year-over-year earnings growth from S&P 500 companies in 2011. By mid-August they had pared growth forecasts back by half.
Part of the problem is that profits are looking so strong. Big numbers this year make it tougher to show year-over-year growth in 2011. Although more analysts are boosting their profit estimates for 2011 rather than cutting, they’ve been boosting their 2010 forecasts by...
STOCK MARKET APT TO STAY DIFFICULT FOR SOME TIME
September 1, 2010 – Zions Direct
Poor Performance Of Small-Cap Stocks Forebode Persistent Bleak Market
Get used to a difficult stock market.
It’s nearly four months since stocks reached their 2010 highs and began falling on investors’ doubts about the economic recovery. Some analysts say it could be another year before investors get up enough confidence to restart the rally.
The economy isn’t helping them. Last week, the Federal Reserve and two mass-market retailers, JCPenney Co. and Kohl’s Corp., lowered their outlooks for the rest of the year. The CEO of networking equipment maker Cisco Systems Inc. used the same words as Fed Chairman Ben Bernanke to describe the economy: unusually uncertain.
The Fed also said last week it would start buying government debt in hopes of stimulating lending and in turn economic growth, though investors proved skeptical. The Dow Jones lost almost... Read more at http://think.zionsdirect.com/2010/08/26/stock-market-apt-to-stay/?utm_source=ym_email&utm_medium=email&utm_content=article_3&utm_campaign=2010_09_01_newsletter
THE UTAH MINING ASSOCIATION HONORS DAVID R. BIRD
UMA Board Member Honored By Mining Association
September 1, 2010 – Utah Mining Association Newsletter
At the 95th Annual Convention of the Utah Mining Association, David R. Bird was presented with the Patri ck Conner Award for Di stinguished Service to the Mining Industry. For several decades, David has been a tru sted advisor, lobbyist and legal counsel for various Utah mining companies as well as the Utah Mining Association.
David R. Bird has served through leadership, knowledge and close working relationships with Utah’s government leaders and policy makers and has been a great benefit to the mining industry for many years. There is no greater evidence to this fact than state laws and regulations in the areas of sales and use tax exemptions, employment law, workers compensation and environmental regulations.”
Not widely known, David also represents a variety of different water clients and is very knowledgeable in water law. In addition to his work for the mining industry, David has been a generous contributor to various charities often directing his philanthropy to our most forgotten Utah citizens, the homeless, poor and disabled. David served on the Utah State Bar Commission and later as President of the Bar, he also served on the Utah Foundation Board of Directors, and the Utah Manufacturers Association Board of Directors.
He assisted in setting up a foundation for the Barrick Gold Corporation and serves on the board of that foundation to this day. He has worked with James Lee in representing one of the largest foundations in the state of Utah. The Gilmore Foundation and has done so since 1985. In all he has served with honor and distinction for many years in a variety of positions benefitting the industry.
We wish to thank David for his dedicated service to the mining industry, the Utah Mining Association and the various organizations he has impacted. Congratulations for a well deserved honor.
September 1, 2010 – Utah Mining Association Newsletter
At the 95th Annual Convention of the Utah Mining Association, David R. Bird was presented with the Patri ck Conner Award for Di stinguished Service to the Mining Industry. For several decades, David has been a tru sted advisor, lobbyist and legal counsel for various Utah mining companies as well as the Utah Mining Association.
David R. Bird has served through leadership, knowledge and close working relationships with Utah’s government leaders and policy makers and has been a great benefit to the mining industry for many years. There is no greater evidence to this fact than state laws and regulations in the areas of sales and use tax exemptions, employment law, workers compensation and environmental regulations.”
Not widely known, David also represents a variety of different water clients and is very knowledgeable in water law. In addition to his work for the mining industry, David has been a generous contributor to various charities often directing his philanthropy to our most forgotten Utah citizens, the homeless, poor and disabled. David served on the Utah State Bar Commission and later as President of the Bar, he also served on the Utah Foundation Board of Directors, and the Utah Manufacturers Association Board of Directors.
He assisted in setting up a foundation for the Barrick Gold Corporation and serves on the board of that foundation to this day. He has worked with James Lee in representing one of the largest foundations in the state of Utah. The Gilmore Foundation and has done so since 1985. In all he has served with honor and distinction for many years in a variety of positions benefitting the industry.
We wish to thank David for his dedicated service to the mining industry, the Utah Mining Association and the various organizations he has impacted. Congratulations for a well deserved honor.
U.S. MANUFACTURING ACCELERATES IN AUGUST
September 1, 2010 – Today in Manufacturing.net
Institute for Supply Management says manufacturing companies grew faster in August as the industrial sector continues to lead the recovery ... continue
Institute for Supply Management says manufacturing companies grew faster in August as the industrial sector continues to lead the recovery ... continue
September 1, 2010 – Quick Manufacturing News
Marks 13th straight month of expansion Click to continue
Marks 13th straight month of expansion Click to continue
UNDERSTANDING DEFLATION AND YOUR MONEY
September 1, 2010 – Zions Direct
Points For Consumers And Investors To Keep In Mind If Deflation Occurs
Deflation is the potential new boogeyman for consumers, replacing inflation.
Absent in any significant way since the Great Depression, deflation — a prolonged period of downward-spiraling prices of goods and services — is seen as a possible threat after three straight months of falling prices.
Lower prices might sound appealing, making the cost of everything from cars to food to vacations cheaper. But prices decline because of a lasting drop in demand, which also means employers lower wages and consumers slow spending. It’s a combination that can drag down an economy for years.
The fear is going the way of Japan, which has battled periods of deflation for two decades. The country still hasn’t recovered from its “Lost Decade” of the 1990s, when bubbles in the stock and real estate markets burst and the economy fell into years of... Read More at http://think.zionsdirect.com/2010/08/30/understanding-deflation/?utm_source=ym_email&utm_medium=email&utm_content=article_2&utm_campaign=2010_09_01_newsletter
WELLS FARGO SURVEY: BUSINESS OWNERS DELAYING RETIREMENT
September 1, 2010 – UB Daily
Business owners are changing the way they approach their retirement in light of economic conditions. The latest Wells Fargo/Gallup Small Business Index, surveyed in July 2010, shows many business owners are looking at a later retirement with 69 percent of business owners not planning to retire or cut back on work until age 65 or older. This is a 17 percentage point increase in this category from December ’07 and a 28 percentage point increase from September ‘05.
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Business owners are changing the way they approach their retirement in light of economic conditions. The latest Wells Fargo/Gallup Small Business Index, surveyed in July 2010, shows many business owners are looking at a later retirement with 69 percent of business owners not planning to retire or cut back on work until age 65 or older. This is a 17 percentage point increase in this category from December ’07 and a 28 percentage point increase from September ‘05.
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