Posts for February 17, 2010

INDUSTRIAL PRODUCTION UP 0.9 PERCENT

February 17, 2010 – Today in Manufacturing.net

Fed Reserve said industrial production rose 0.9 percent in January, seventh consecutive monthly increase as manufacturers help lead nation's economic recovery... continue the article at this link http://www.manufacturing.net/article.aspx?id=241968&wnnvz=1750,01297456053

OBAMA SAYS STIMULUS SAVED U.S. ECONOMY

February 17, 2010 – Late Wire from Manufacturing.net

President hailed one-year-old economic stimulus law as an accomplishment that staved off another Great Depression and kept up to 2 million people on the job ... continue the article at this link http://www.manufacturing.net/article.aspx?id=241994&wnnvz=1750,01298050688

FED: HIGH UNEMPLOYMENT FOR 2 MORE YEARS

February 17, 2010 – Late Wire from Manufacturing.net

Federal Reserve expects unemployment will stay high over next 2 years because Americans are likely to stay cautious, slowing pace of economic recovery ... continue the article at this link http://www.manufacturing.net/article.aspx?id=242048&wnnvz=1750,01298050688

INTERNATIONAL TAX INCREASES

Time Sensitive: Wednesday, February 24 Deadline
February 17, 2010 - NAM

Action Request: Sign-on PACE Coalition Letter Opposing International Tax Increases

To highlight the negative impact of proposed international tax increases on the U.S. economy and U.S. jobs, NAM and other members of the PACE Coalition Steering Committee are soliciting names of companies and the associations that represent them, for a Coalition letter. See background below.

To read the letter and electronically add your company/organization name EXACTLY as it should appear on the letter, click here to view the list http://namissvr.nam.org/minisites/SecureSignup/PACE/Letter.aspx?id=8

Note that similar letters sent by the PACE Coalition in 2009 were very effective tools in our lobbying effort to oppose proposed tax increases on worldwide American companies. If this is an issue for your company, I strongly urge you to add your support. Please feel free to forward this email to any other company or association that has an interest in this issue.

Background: Since early last year, the NAM and the broad-based PACE Coalition, have been lobbying against a package of international tax increases proposed by the Obama Administration. The Administration’s FY 2011 budget, released earlier this month, includes limits on deferral, a tightening of rules on foreign tax credits and a tax on certain transfers of intangible property to overseas subsidiaries as well as other international provisions that would impose $123 billion in tax increases on American companies with worldwide operations. Faced with a heavy policy agenda and a renewed focus on “pay-go,” Congress will continue to look for new sources of revenue. It is critically important that Members of Congress hear from a wide range of U.S. businesses about the severe, negative impact international tax increases included in the Administration’s Fiscal 2011 budget will have on U.S. competitiveness and U.S. jobs

Please note that, since this letter is being distributed by several groups, you may get several different requests for the same letter. Your name will only appear once.

Thanks in advance for your help. Please give me a call if you have any questions.

Regards DC

Dorothy Coleman
Vice President, Tax and Domestic Economic Policy
Direct: (202) 637-3077
Email: dcoleman@nam.org
National Association of Manufacturers
1331 Pennsylvania Avenue, NW Suite 600
Washington, DC 20004-1790

EUROZONE EXPORTS DOWN IN 2009

February 17, 2010 – Late Wire from Manufacturing.net

Exports fell 18 percent in 2009 as world trade contracted and euro soared against the U.S. dollar, according to official EU data published Wednesday ... continue the article at this link http://www.manufacturing.net/article.aspx?id=241976&wnnvz=1750,01298050688

FDA CONSIDERS MEDICAL DEVICE OVERHAUL

February 17, 2010 – Late Wire from Manufacturing.net

System for clearing devices popular with manufacturers because it offers a fast pathway to market; critics say process can hastily approve high-risk implants ... continue the article at this link http://www.manufacturing.net/article.aspx?id=242036&wnnvz=1750,01298050688

DURING PAST YEAR, QUESTAR GAS REQUESTED $276 MILLION IN RATE CUTS, REBATE

February 17, 2010 – Questar Gas Company Government Relations

The past year has been a good one for Utah’s natural gas customers. Four times during that period, Questar Gas has gone before the Public Service Commission of Utah (PSC) to request lower rates.

• On Nov. 1, 2008, the company asked for a rate cut of $63 million, or 5.3 percent.

• On Feb. 10, Questar Gas asked to reduce natural gas rates by $157 million. The rate cut lowered the typical homeowner’s annual bill by about $124, or 16 percent, beginning March 1.

• Questar Gas then asked for a one-time $50 million rebate on April 16. The rebate reduced the typical customer’s May natural gas bill by $40 to $45.

• On Sept. 1, Questar Gas asked for a $6.7 million rate reduction — about $3.50 per year, or .52 percent, beginning Oct. 1.

“This is good news for our customers — and good news for our state,” said Ron Jibson, president and CEO of Questar Gas. “Our cost to purchase natural gas for our customers has declined significantly in recent months, so we’re passing the savings on to our customers.”

Twice yearly Questar Gas and the PSC use third-party forecasts of natural gas prices to estimate how much the utility’s rates should be adjusted to cover anticipated costs of buying natural gas for its customers.

“Our rates are consistently among the lowest in the U.S. These latest rate cuts — combined with our ‘ThermWise’ conservation programs — should help keep our rates among the lowest,” Jibson said. However, he cautioned customers that natural gas prices can fluctuate with changes in supply and demand.

Jibson also reminded Questar Gas customers that funds may be available to help income-eligible customers pay their gas bills. Applications for federal funds may be obtained by calling the Home Energy Assistance Target Program (HEAT). He also reminded customers of the Residential Energy Assistance through Community Help (REACH) program, which is funded by voluntary donations from Questar Gas customers, employees and shareholders, and administered by the Red Cross. REACH applicants must first apply for HEAT. The program runs year-round or until funds are exhausted.