Posts for April 13, 2011

UMA MEMBER COMPANIES IN THE NEWS:

RIO TINTO TO PROVIDE METAL FOR 2012 OLYMPIC MEDALS Today in Manufacturing The gold, silver and copper that will be used in the 4,700 medals at the 2012 London Olympics will be provided by international mining company Rio Tinto PLC ... continue WCF WELCOMES NEW VICE PRESIDENT OF HUMAN RESOURCES, KRIS MCFARLAND Daily Pulse Workers Compensation Fund is pleased to welcome Kris McFarland as the new vice president of Human Resources. {read more} ENERGYSOLUTIONS TO DISCUSS NUCLEAR STATION LICENSE STEWARDSHIP ACCOUNTING METHODOLOGY Market Wire EnergySolutions, Inc. announced today that it will conduct a conference call at 5:00 p.m. EDT on Wednesday, April 20, 2011, to discuss the license stewardship accounting methodology associated with nuclear power station decommissioning projects. {read more} AUTOLIV EXPANDING CHINA PLANT Today in Manufacturing Autoliv will build out its 3-year-old plant in southern China where it assembles air bags and seatbelts, the automotive safety system company said ... continue

SENATE REPUBLICANS REQUEST INFORMATION ON BURDEN OF AFFORDABLE CARE ACT ON SMALL BUSINESS

John Zern-Aon Hewitt On April 6, 2011, three Republican Senators submitted a letter to the Small Business Administration (SBA) Office of Advocacy asking the agency to list actions it has taken to ensure the concerns of small business owners are protected during the implementation phase of the Affordable Care Act. The letter, written by Senators Snowe (R-ME), Enzi (R-WY), and Hatch (R-UT), requests the SBA to describe how it advocated on behalf of small business owners in the regulatory and rulemaking process for the Affordable Care Act. In their letter, the senators also ask the SBA to comment on whether it has adequate resources to assist small business owners as they attempt to comply with the Affordable Care Act. Click here to read the press release.

FORM 1099 REPEAL PASSED BY SENATE; PRESIDENT EXPECTED TO SIGN

John Zern-Aon Hewitt On April 5, 2011, the Senate passed the Comprehensive 1099 Taxpayer Protection and Repayment of Exchange Subsidy Overpayments Act of 2011 (H.R.4) by a 87-12 vote. The House passed the measure on March 3. President Obama is expected to sign the bill into law. The bill would repeal the reporting requirement that businesses must file a Form 1099 for any payment totaling $600 or more in a calendar year to a single payee beginning in 2012.

CONSUMER SPENDING INCREASES 0.4 PERCENT IN MARCH

Today in Manufacturing Spending increased in March, but most of the added money went toward higher gas prices ... continue

CRUDE OIL CONTINUES TO FALL ON PRICE CONCERNS

Bloomberg News Bloomberg News reports crude oil prices "fell, capping the biggest two- day drop in almost 11 months, after the International Energy Agency and International Monetary Fund said that prices above $100 a barrel are starting to hurt the global economy and Goldman Sachs Group Inc. forecast a 'substantial' correction." Crude oil for May delivery declined by $3.67, or 3.3 percent, to settle at $106.25 a barrel on the New York Mercantile Exchange, the lowest settlement since March 30. Futures have lost 5.8 percent since April 8, making it the largest two-day decline since May 14 and 17, 2010. Futures fell "after the IEA reported signs of an oil-demand 'slowdown' in its monthly Oil Market Report today," and "the IMF cut its growth forecasts yesterday for the US and Japan, two of the top three oil-consuming countries." Meanwhile, Goldman said in a note to clients that Brent oil, the European benchmark, may drop more than $15 to $105 a barrel.

SLOW MANUFACTURED GOODS EXPORT GROWTH SHOWS NEED FOR REDUCED TRADE BARRIERS

NAM Shopfloor blog Frank Vargo, vice president of international economic affairs for the Manufacturers, writes in the association's Shopfloor (4/12) blog, "February manufactured goods exports grew only 2.4 percent at an annual rate from January, while manufactured goods imports increased at an annual rate of 18.9 percent." While manufactured export growth is up over last year, he notes that at 11.6 percent, it is short of "the 15 percent annual rate of increase needed to achieve the goal of doubling exports in five years." Vargo writes, "February's figures underscore the need for an effective program to double exports, and should prompt the Administration to move quickly on reducing barriers to US exports, particularly by sending the three pending trade agreements – Colombia, Panama, and Korea – to Congress for quick passage and implementation. The Administration then needs to move rapidly to conclude other export-enhancing trade agreements to open more foreign markets to US exports."

UTAH LOOKS TO BECOME MORE BUSINESS FRIENDLY

GovMonitor Governor Gary R. Herbert wants to tune up state rules and regulations which impact Utah businesses, so he has ordered a review by senior staff and agency heads.(GovMonitor)

UTAH SEEKS TO HARNESS WIND POWER

Daily Universe In a world concerned with clean and renewable energy sources, Utah is trying to do its part with wind power.(Daily Universe)

DEBATE STIRRED OVER 1ST MAJOR US TAR SANDS MINE [WHICH IS IN UTAH]

Associated Press Beneath the lush, green hills of eastern Utah's Uinta Basin, where elk, bear and bison outnumber people, the soil is saturated with a sticky tar that may soon provide a new domestic source of petroleum for the United States.(Associated Press)

GOVERNOR HERBERT TO ADDRESS STRATEGIC ENERGY PLAN

Will provide introduction to Utah renewable energy conference 2011 Utah Pulse Utah Governor Gary Herbert will highlight the state's 10-year Strategic Energy Plan, "Energy Initiatives and Imperatives," at the Utah Renewable Energy Conference 2011 that will take place April 19 from 9 a.m. to 9 p.m. at the Salt Palace Convention Center in Salt Lake.(Utah Pulse)