Posts for November 10, 2010

REPORT: WHITE HOUSE ALTERED DRILLING BAN REPORT

Today in Manufacturing
Inspector general says the White House edited a report about the moratorium on offshore oil drilling, making it appear that scientists and experts supported the idea ... continue

JOBLESS CLAIMS FALL SHARPLY TO 4-MONTH LOW

Today in Manufacturing
Fewer people applied for unemployment aid last week, the third drop in four weeks and evidence that the job market is showing signs of life ... continue

HOW THE NEW CONGRESS COULD AFFECT STOCKS IN 2011

Zions Direct
The Republican Takeover May Alter the MarketNext year will be a year unlike any other for the stock market.The Republican takeover of the House of Representatives on Tuesday, November 2, means Wall Street will be contending with three situations in 2011 that drive stock prices:— The year before a president faces re-election.— The year after a president has lost control of Congress.— The second year of a fragile economic expansion.The market often behaves a certain way in each of those...

DEBT COMMISSION RELEASES DRAFT REPORT

NAM Tax Subcommittee

Erskine Bowles and Alan Simpson, the co-chairs of the National Commission on Fiscal Responsibility and Reform this afternoon released a draft of suggested recommendations on how to reduce the federal deficit and debt. In particular, the chairmen call for reduced corporate tax rates on a broader base and spending cuts from all areas of the budget and would limit both spending and revenues to 21 percent of GDP. The draft is released in advance of the December 1, 2010, deadline for the Commission’s official recommendations.

Among the highlights, it recommends:

· Discretionary spending caps and provide $200 billion in illustrative domestic and defense savings in 2015;

· Tax reform that reduces rates, simplifies the code and broadens the base;

· Addressing the “Doc Fix” through savings from payment reforms, cost-sharing, and malpractice reform, and long-term measures to control health care cost growth;

· Mandatory savings from farm subsidies, military and civil service retirement; and

· Ensuring Social Security solvency for the next 75 years.

SURVEY: SMART PHONE MARKET UP 96 PERCENT

Today in Manufacturing

Global smart phone sales nearly doubled in the third quarter, and Apple is now one of the top five bestselling manufacturers, a new study finds ... continue