The Leading Source for Industrial Distribution News
Treasury Department Criticized For Its Handling Of Car Dealers
July 19, 2010 5:30 am | by Ken Thomas, Associated Press Writer | News | CommentsWASHINGTON (AP) — The Treasury Department failed to consider the economic fallout when it told General Motors and Chrysler to quickly shutter many dealerships as part of government-led bankruptcies, a federal watchdog found. A report released Sunday by the special inspector general for the government's bailout program raised questions about whether the Obama administration's auto task force considered the job losses from the closings while pressuring the companies to reduce costs.
Genco Acquires ATC Technology
July 19, 2010 5:29 am | News | CommentsDOWNERS GROVE, Ill. (AP) — ATC Technology Corp. said Monday it has agreed to be acquired by privately held Genco Distribution System Inc. for $512.6 million in cash. ATC, an engineering and supply chain logistics firm based in Downers Grove, said the boards of ATC and Genco have approved the deal.
Strike In China Idles Another Honda Supplier
July 16, 2010 6:11 am | by Joe McDonald, AP Business Writer | News | CommentsBEIJING (AP) — A strike has shut down another factory in China that supplies Honda Motor Co. amid a wave of protests by workers for higher wages, an employee and a labor official said Friday. The strike at the Atsumitec Co. factory in the southern city of Foshan near Hong Kong involves 90 percent of the 200 employees and began Monday, the employee said by phone.
Consumer Prices Fall Again, Spark Deflation Talk
July 16, 2010 6:10 am | by Jeannine Aversa, AP Economics Writer | News | CommentsWASHINGTON (AP) — Consumer prices fell for the third straight month, providing some bargains to American shoppers. The Consumer Price Index, the government's most closely watch inflation barometer, dipped 0.1 percent in June, the Labor Department reported Friday. Less expensive energy bills were a big factor behind the drop.
Manufacturing Cools As Recovery Slows
July 16, 2010 6:05 am | by Daniel Wagner and Martin Crutsinger, AP Business Writers | News | CommentsWASHINGTON (AP) — New evidence of a slowing economic rebound emerged Thursday in reports that manufacturing activity is slowing after helping drive the early stages of the recovery. Factory output fell in June, according to a government report on industrial production. It was the sharpest monthly drop in a year.
Copy Machines: A Target For Identity Thieves
July 15, 2010 11:07 am | Videos | CommentsJust about every business in the United States has at least one copy machine that's used on a day-to-day basis. However, few, if any, are aware the copy machines store every document ever scanned, printed, and faxed on hard drives within the machinery. Once the company disposes of the copy machine, that hard drive becomes a target for identity thieves.
Grainger Reports 16 Percent Sales Increase In 2Q
July 15, 2010 4:29 am | News | CommentsCHICAGO -- Grainger today reported results for the second quarter and six months ended June 30, 2010. Second quarter sales of $1.8 billion increased 16 percent versus the 2009 second quarter. Both quarters had the same number of selling days (64). Net earnings for the quarter increased 40 percent to $129 million versus $92 million in 2009.
New Unemployment Applications See Sharp Fall
July 15, 2010 4:27 am | by Christopher S. Rugaber, AP Economics Writer | News | CommentsWASHINGTON (AP) — New applications for unemployment benefits fell sharply last week as General Motors and other manufacturers skipped their usual summer shutdowns. The Labor Department said Thursday that new claims dropped by 29,000 to 429,000, the lowest level since August 2008. It was the second straight week that initial claims dropped sharply and the third drop in the last four weeks.
Government Continues To Investigate Toyota Recalls
July 15, 2010 4:25 am | by Ken Thomas, Associated Press Writer | News | CommentsWASHINGTON (AP) — The government said Wednesday it had not reached any conclusions about whether Toyota drivers may be to blame for their vehicles suddenly accelerating, a problem that has led to millions of recalled cars and trucks since last year. The National Highway Traffic Safety Administration said in a statement that its engineers were continuing to investigate the possible causes of sudden acceleration in Toyotas along with scientists and researchers with the National Academy of Scientists and NASA.
White House: Stimulus Law Led To More Than 2.5 Million Jobs
July 15, 2010 4:23 am | News | CommentsWASHINGTON (AP) -- A new White House report says last year's $862 billion stimulus law has now "saved or created" between 2.5 million and 3.6 million jobs. That's up from 2.2 million to 2.8 million in the last quarterly report from the White House Council of Economic Advisers. Christina Romer, head of the council, says in congressional testimony prepared for Wednesday that every $1 from the stimulus bill is matched by $3 in private money.
The Jobless Rate Is Misleading
July 14, 2010 12:02 pm | Videos | CommentsIn a classic good news-bad news scenario, the U.S. unemployment rate has dropped to 9 1/2 percent. However, analysts say that's because roughly 600,000 people have simply given up on trying to procure a job. A more useful, and alarming, statistic states that the U.S. economy lost 125,000 jobs in the month of June.
Krayden Receives 2009 Dow Corning Electronics Distributor of the Year Award
July 14, 2010 11:48 am | News | CommentsDENVER — Krayden, Inc., a distributor of engineered materials, recently announced that it received the Dow Corning Electronics 2009 Distributor of the Year award during a ceremony that was held in May 19 at its headquarters in Denver. This is the second consecutive year Krayden has earned this award.
Optimize Your Price Matrix
July 14, 2010 10:38 am | by Barrett Thompson and Rafe VanDenBerg, Zilliant | Articles | CommentsBusiness-to-business manufacturers often find pricing for profitable growth can be a daunting task. Of course, the quality and accuracy of the price-points themselves can mean the difference between winning business profitably, winning business at a loss, or losing business altogether. In this extremely competitive environment, having the “right” price is essential for top-line growth and bottom-line performance.
A Fully-Equipped Warehouse
July 14, 2010 10:34 am | Articles | CommentsThe largest heavy-duty truck manufacturer and leader in medium-duty and commercial vehicles, Daimler Trucks North America (DTNA), is now fully equipped with a warehouse identification and floor marking system to beat the competition, following a premier installation from the country’s leading manufacturer and installation firm, ASG Services.
Kaman Announces Distribution Pact With Predictive Service
July 14, 2010 6:12 am | News | CommentsWINDSOR, Conn . – Kaman Industrial Technologies, a distributor of industrial parts, and Predictive Service, LLC, a provider of predictive maintenance and engineering services (reliability services), announced a collaboration between the two companies today, whereby Kaman will distribute reliability services from Predictive Service in the industrial distribution market.
Fastenal's 2Q Income Climbs 59 Percent
July 14, 2010 6:11 am | News | CommentsWINONA, Minn. (AP) — Fastenal Co. said Tuesday its second-quarter profit rose 59 percent to beat Wall Street estimates on higher sales of fasteners and other industrial supplies. The company said a stronger Canadian dollar and contributions from its Holo-Krome business, acquired in December, also contributed to the stronger quarter.
Inventories Up, Sales Down For U.S. Businesses
July 14, 2010 6:09 am | by Martin Crutsinger, AP Economics Writer | News | CommentsWASHINGTON (AP) — Inventories held by businesses rose for a fifth consecutive month in May but sales dropped for the first time in more than a year. Inventories edged up 0.1 percent in May, the Commerce Department reported Wednesday. Sales dropped 0.9 percent, the first decline since March 2009 when they fell 2.
U.S. Trade Deficit Widens To Highest Level in 18 Months
July 13, 2010 5:45 am | by Martin Crutsinger, AP Economics Writer | News | CommentsWASHINGTON (AP) — The U.S. trade deficit widened in May to the highest level in 18 months as a rebounding economy pushed up demand for imports of foreign-made cars, computers and clothing. The Commerce Department says the trade deficit increased 4.8 percent to $42.3 billion, the largest imbalance since November 2008.
Semiconductor Distributor NU Horizons Reports Strong 1Q
July 13, 2010 5:37 am | News | CommentsMELVILLE, N.Y. (AP) — Semiconductor distributor Nu Horizons Electronics Corp. reported a first-quarter profit Thursday, as recovering demand among businesses for new technology helped it recover from a loss a year earlier. Shares spiked 9 percent in electronic trading after the market closed.
