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The complete daily resource for distribution professionals

Stocks Rise Sharply On Optimism For A Debt Deal

October 16, 2013 11:04 am | by Steve Rothwell, AP Markets Writer

The Dow Jones industrial average rose 166 points, or 1.1 percent, to 15,333 in morning trading following a report that House Speaker John Boehner had agreed to take up a Senate compromise on raising the debt ceiling.      

U.S. Builder Confidence Dips Amid Budget Impasse

October 16, 2013 10:47 am | by Alex Veiga, AP Real Estate Writer

The National Association of Home Builders/Wells Fargo builder sentiment index slipped two points to 55. The September reading was revised down from an initial reading of 58.              


Stanley Black & Decker 3Q Revenue Increases 10%

October 16, 2013 10:45 am | by Stanley Black & Decker

Overall Industrial segment profit excluding charges was 14.5% down from the 3Q 2012 rate of 15.4% due primarily to investments in organic growth initiatives and the mix impact of Infastech’s modestly below line average margins.         


Buffet Says Allowing U.S. Default Would Be Idiocy

October 16, 2013 10:40 am | by Josh Funk, AP Business Writer

Buffett said he thinks it would be absurd for American politicians to do anything to damage the country's reputation for paying its bills that has been established over the past 237 years.            

Grainger 3Q Sales Up 5%

October 16, 2013 10:38 am | by W. W. Grainger, Inc.

Sales of $2.4 billion increased 5% versus $2.3 billion in the third quarter of 2012. Net earnings for the third quarter increased 3% to $211 million versus $155 million in 2012.  Earnings per share of $2.95 increased 37% versus $2.15 in 2012.


Lockheed Martin Moving Vehicle Production To AR

October 16, 2013 10:34 am | by AP

The company says the move will help make the vehicle more affordable for the U.S. Army and Marine Corps. The Sealy plant in Texas where the prototype was made will close.                       


SKF Sales For the 3Q Up Nearly 1%

October 15, 2013 12:52 pm | by SKF

Sales in the third quarter in local currencies increased by 1% in Europe, by 9% in Latin America, by 5% in Asia and by 8% in Middle East and Africa. In North America they decreased by 2%.           


High Court Will Review EPA Global Warming Rules

October 15, 2013 12:04 pm | by AP

The Supreme Court has agreed to consider whether the Environmental Protection Agency overstepped its authority in developing rules aimed at cutting emissions of six heat-trapping gases from factories and power plants.        


Goodyear Announces New Senior Leadership Roles

October 15, 2013 10:49 am | by Goodyear Tire & Rubber Company

"The succession moves we are announcing today place proven Goodyear leaders in key roles that will enable us to stay on our Strategy Roadmap and maintain our positive momentum," said Goodyear Chairman and Chief Executive Officer Richard J. Kramer.


W.P. & R.S. Mars Co. Acquires Walter R. Hammond Company

October 15, 2013 10:43 am | by W.P. & R.S. Mars Company

Established in 1945, the Hammond Company is a local, full-service distributor of cutting tools and accessories. Over the years they have developed a reputation for hands-on application expertise and for offering a large on-the-shelf inventory. 

Alibaba To Make Big Splash In Ecommerce Market

October 15, 2013 10:37 am | by Abbigail Kriebs, Associate Editor

A Chinese ecommerce giant may go public to raise the revenue it needs to compete head-to-head with other sites and the industrial marketplace.                  

India's Industrial Output Slows Once Again

October 15, 2013 10:11 am | by AP

Stalling growth that reached a decade-low this year has marred India's economic outlook, while high inflation leaves little room for the central bank to boost demand by cutting interest rates.          


Stock Market Opens Lower As Debt Talks Continue

October 15, 2013 10:08 am | by AP

Stocks are heading lower as lawmakers continue to work on a deal to avoid a U.S. default and reopen the government.                        


Senators Closing In On Deal To Reopen Government

October 15, 2013 10:06 am | by Andrew Taylor, Associated Press

Majority Leader Harry Reid, D-Nev., and GOP leader Mitch McConnell of Kentucky could seal an agreement just two days before the Treasury Department says it will run out of borrowing capacity.                   

Eurozone Industrial Output Rebounds In August

October 15, 2013 9:51 am | by Pan Pylas, Associated Press

Eurostat, the EU's statistics office, said industrial production rose 1 percent. The increase was roughly in line with market expectations and the biggest monthly rise since July 2011. It also recouped July's equivalent decline — summer figures can be volatile given the holiday season.


Car Sales Burst A Challenge To Parts Suppliers

October 14, 2013 12:06 pm | by Associated Press

The rising demand for new cars is creating a problem for parts suppliers — and that, in turn, could hurt the growth of car plants in Mississippi, a trade association official says.              


SKF Gets Antitrust Approval In Kaydon Deal

October 14, 2013 11:59 am | by AP

Swedish manufacturer SKF said Tuesday that it has received antitrust approvals in the U.S. and Germany for its pending acquisition of Kaydon Corp. but did modify its requirements for closing the deal due to the federal government shutdown.  

Default Looming: Day 14 Of Shutdown With No Solution

October 14, 2013 11:25 am | by Donna Cassata, Associated Press

The United States moved perilously closer to an economy-rattling default and a partial government shutdown entered its 14th day as Senate Democratic and Republican leaders remained at odds over spending in their last-ditch negotiations to end the crises facing the nation.


ITT Expands Pump Manufacturing Capabilities In Korea

October 14, 2013 10:30 am | by ITT Company

The new factory, located in the Oksan Industrial Complex, is three times larger than the original ITT pump manufacturing plant and will produce, package, and test highly engineered pumps under the Goulds Pumps brand.      

Accelerated Efforts, No Agreement On Shutdown

October 14, 2013 10:27 am | by DAVID ESPO, AP Special Correspondent

With time running short, President Barack Obama and House Speaker John Boehner accelerated efforts Friday to prevent the U.S. Treasury from default and end a partial government shutdown that stretched into an 11th day.       



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