Friday, October 31, 2003
Finland, U.S. top the list as the most competitive economies
Toilets and Cell Phones Don't Mix
Man drops cell phone in train toilet, jams arm: "The man was on a suburban train from Grand Central Station on Wednesday night when he went to the bathroom to make a phone call, dropped the phone into the toilet bowl and then his hand and arm became stuck trying to retrieve it, officials said."
Extreme Pumpkin Carving
Continuous Improvement Throughout All Industries
Thursday, October 30, 2003
Napster's back. Only this time you have to pay for the music
U.S. Economy Up 7.2% in 3rd Qtr
Survey of Middle-Market Business Leaders
Wednesday, October 29, 2003
Kansas gets the big money from Microsoft (in Vouchers!)
INDUSTRYWEEK DAILY PAGE: "Microsoft Settles Class-Action Lawsuits In 5 States, D.C.
Software maker Microsoft Corp. said Oct. 28 it had agreed to settle consumer class-action lawsuits that had been pending in five states and Washington, D.C. The Redmond, Wash.-based company has proposed to settle the cases for some $200 million in computer and software vouchers.
Microsoft now has reached settlements in nine states and the District of Columbia. However, it is still facing class-action suits in five other states, Microsoft lawyer Brad Smith explained in a press conference.
Proposed settlements in Kansas and the District of Columbia have been given preliminary approval by the judges overseeing those cases. The Kansas and Washington, D.C., agreements pave the way for Microsoft to offer compensation in the form of vouchers for computer equipment and software. Kansas had been offered vouchers totaling $32 million (Go Kansas, people always get vouchers, makes you wonder how the lawyers made out) while Washington, D.C., had been offered $6.2 million.
Microsoft is still awaiting legal approvals for its agreements with the states of North Carolina, Tennessee, and North Dakota and South Dakota. - Agence France-Presse
Software maker Microsoft Corp. said Oct. 28 it had agreed to settle consumer class-action lawsuits that had been pending in five states and Washington, D.C. The Redmond, Wash.-based company has proposed to settle the cases for some $200 million in computer and software vouchers.
Microsoft now has reached settlements in nine states and the District of Columbia. However, it is still facing class-action suits in five other states, Microsoft lawyer Brad Smith explained in a press conference.
Proposed settlements in Kansas and the District of Columbia have been given preliminary approval by the judges overseeing those cases. The Kansas and Washington, D.C., agreements pave the way for Microsoft to offer compensation in the form of vouchers for computer equipment and software. Kansas had been offered vouchers totaling $32 million (Go Kansas, people always get vouchers, makes you wonder how the lawyers made out) while Washington, D.C., had been offered $6.2 million.
Microsoft is still awaiting legal approvals for its agreements with the states of North Carolina, Tennessee, and North Dakota and South Dakota. - Agence France-Presse
Kansas gets the big money from Microsoft (in Vouchers!)
INDUSTRYWEEK DAILY PAGE: "Microsoft Settles Class-Action Lawsuits In 5 States, D.C.
Software maker Microsoft Corp. said Oct. 28 it had agreed to settle consumer class-action lawsuits that had been pending in five states and Washington, D.C. The Redmond, Wash.-based company has proposed to settle the cases for some $200 million in computer and software vouchers.
Microsoft now has reached settlements in nine states and the District of Columbia. However, it is still facing class-action suits in five other states, Microsoft lawyer Brad Smith explained in a press conference.
Proposed settlements in Kansas and the District of Columbia have been given preliminary approval by the judges overseeing those cases. The Kansas and Washington, D.C., agreements pave the way for Microsoft to offer compensation in the form of vouchers for computer equipment and software. Kansas had been offered vouchers totaling $32 million (Go Kansas, people always get vouchers, makes you wonder how the lawyers made out) while Washington, D.C., had been offered $6.2 million.
Microsoft is still awaiting legal approvals for its agreements with the states of North Carolina, Tennessee, and North Dakota and South Dakota. - Agence France-Presse
Software maker Microsoft Corp. said Oct. 28 it had agreed to settle consumer class-action lawsuits that had been pending in five states and Washington, D.C. The Redmond, Wash.-based company has proposed to settle the cases for some $200 million in computer and software vouchers.
Microsoft now has reached settlements in nine states and the District of Columbia. However, it is still facing class-action suits in five other states, Microsoft lawyer Brad Smith explained in a press conference.
Proposed settlements in Kansas and the District of Columbia have been given preliminary approval by the judges overseeing those cases. The Kansas and Washington, D.C., agreements pave the way for Microsoft to offer compensation in the form of vouchers for computer equipment and software. Kansas had been offered vouchers totaling $32 million (Go Kansas, people always get vouchers, makes you wonder how the lawyers made out) while Washington, D.C., had been offered $6.2 million.
Microsoft is still awaiting legal approvals for its agreements with the states of North Carolina, Tennessee, and North Dakota and South Dakota. - Agence France-Presse
Durable Orders, Consumer Confidence Augur Well For Future
In the hours just before Chairman Alan Greenspan and his colleagues on the Federal Open Market Committee made their Oct. 28 decision on short-term interest rates, the U.S. Commerce Department and the Conference Board released encouraging economic data.
New orders for manufactured durable goods -- products designed to last three years or more -- increased 0.8% in September to $176.3 billion, the Commerce Department reported. "Most importantly, the report shows that capital spending is rebounding," says Daniel J. Meckstroth, chief economist at Manufacturers Alliance/MAPI, an Arlington, Va.-based business and public policy research group. "Amazingly though, manufacturers continue to cut inventories rather than allow the full increase in new orders flow through to shipments," he notes. Inventories of manufactured durables fell 0.7% to $261.3 billion in September. However, "the inventory liquidation will end as soon as rising production necessitates more work-in-progress inventory," states Meckstroth.
Some 90 minutes after the Commerce Department released its data, the Conference Board, a New York-based business research group, put out its consumer confidence index for October. After five months of decline, the closely watched index rose to 81.1 (1985=100) this month. "A more favorable job market was a major factor in the turnaround," says Lynn Franco, director of the Conference Board's Consumer Research Center. What's more, its expectations index also rose this month, to 90.7 from 88.5 in September, suggesting that consumers believe the U.S. job market will continue to improve. "With the holiday season around the corner, this improvement in consumers' spirits is a good omen for upcoming retail sales," says Franco. - John S. McClenahen
New orders for manufactured durable goods -- products designed to last three years or more -- increased 0.8% in September to $176.3 billion, the Commerce Department reported. "Most importantly, the report shows that capital spending is rebounding," says Daniel J. Meckstroth, chief economist at Manufacturers Alliance/MAPI, an Arlington, Va.-based business and public policy research group. "Amazingly though, manufacturers continue to cut inventories rather than allow the full increase in new orders flow through to shipments," he notes. Inventories of manufactured durables fell 0.7% to $261.3 billion in September. However, "the inventory liquidation will end as soon as rising production necessitates more work-in-progress inventory," states Meckstroth.
Some 90 minutes after the Commerce Department released its data, the Conference Board, a New York-based business research group, put out its consumer confidence index for October. After five months of decline, the closely watched index rose to 81.1 (1985=100) this month. "A more favorable job market was a major factor in the turnaround," says Lynn Franco, director of the Conference Board's Consumer Research Center. What's more, its expectations index also rose this month, to 90.7 from 88.5 in September, suggesting that consumers believe the U.S. job market will continue to improve. "With the holiday season around the corner, this improvement in consumers' spirits is a good omen for upcoming retail sales," says Franco. - John S. McClenahen
Tuesday, October 28, 2003
Sun shoots monster flare at Earth
Sun shoots monster flare at Earth Be on the lookout tomorrow around 12 noon for the effects from this flare
Former High-Earning Execs Beat Joblessness With Start-Up Businesses
Will unemployed executives spur the next round of job creation? That could be the case if data released by Challenger, Gray & Christmas Inc. are any indication.
The international outplacement firm reports that 15.1% of unemployed executives who had earned $100,000 or more in their previous positions started their own businesses in the third quarter of 2003. That compares with 11.3% in the previous quarter and 7.8% of out-of-work executives who earned under $100,000.
'Jobless top-level executives may prove to be this economy's salvation,' notes John A. Challenger, the outplacement firm's CEO. 'Start-up activity was a major factor behind the economic expansion in the mid to late 1990s. It will be even more important to this recovery/expansion. The good news is that our survey numbers show an upward trend.'
The Challenger data are based on a quarterly survey of 3,000 discharged managers and executives across a broad range of industries in the United States. "
The international outplacement firm reports that 15.1% of unemployed executives who had earned $100,000 or more in their previous positions started their own businesses in the third quarter of 2003. That compares with 11.3% in the previous quarter and 7.8% of out-of-work executives who earned under $100,000.
'Jobless top-level executives may prove to be this economy's salvation,' notes John A. Challenger, the outplacement firm's CEO. 'Start-up activity was a major factor behind the economic expansion in the mid to late 1990s. It will be even more important to this recovery/expansion. The good news is that our survey numbers show an upward trend.'
The Challenger data are based on a quarterly survey of 3,000 discharged managers and executives across a broad range of industries in the United States. "
Monday, October 27, 2003
Dollar Fall May Boost U.S. Long-Term Rates
The decline of the dollar could slow the pace of the U.S. economic recovery by leading to a rise in U.S. long-term interest rates which would in turn weigh on domestic demand, the Organization for Cooperation and Economic Development (OECD) said Oct. 24 in its semiannual Financial Market Trends report.
The OECD said Asian governments had been major buyers of U.S. assets as part of their strategies of preventing their currencies appreciating against the dollar. But after the recent call by the Group of Seven rich nations for greater exchange rate flexibility -- widely seen as a call for Asian countries to allow their currencies to strengthen against the dollar -- these official purchases of U.S. assets may decline, the OECD said.
"Should such purchases now come to an end, the pursuant fall in demand for U.S. treasuries could increase U.S. interest rates, assuming private demand for U.S. assets does not offset the drop in official demand," it said.
The weaker dollar could therefore have negative, as well as positive, effects on the U.S. economy, it said.
"On the one hand the falling dollar should have positive effects in terms of U.S. competitiveness and should bring current account deficits back to more sustainable levels. On the other hand, higher interest rates could impact on domestic demand, possibly countering the increases in export demand," it said. - Agence France-Presse
The OECD said Asian governments had been major buyers of U.S. assets as part of their strategies of preventing their currencies appreciating against the dollar. But after the recent call by the Group of Seven rich nations for greater exchange rate flexibility -- widely seen as a call for Asian countries to allow their currencies to strengthen against the dollar -- these official purchases of U.S. assets may decline, the OECD said.
"Should such purchases now come to an end, the pursuant fall in demand for U.S. treasuries could increase U.S. interest rates, assuming private demand for U.S. assets does not offset the drop in official demand," it said.
The weaker dollar could therefore have negative, as well as positive, effects on the U.S. economy, it said.
"On the one hand the falling dollar should have positive effects in terms of U.S. competitiveness and should bring current account deficits back to more sustainable levels. On the other hand, higher interest rates could impact on domestic demand, possibly countering the increases in export demand," it said. - Agence France-Presse
Room For Improvement For Air Freight Providers
While shippers seem fairly satisfied with the services of their intercontinental airfreight providers, initial results from a new survey show that for many, there is room for improvement.
Some 45% of shippers who responded to the 2003 International Air Cargo Quality Survey identified themselves as "very satisfied" with their providers, with another 38% toning down their responses by reporting to be somewhat satisfied. Nearly half said they receive on-time delivery levels in excess of 98%, with just 10% saying they receive service levels below 90%.
"Because air freight is such a critical cog in the machine of today's global economy, the need for providers to continuously meet the expectations of intercontinental air shippers is paramount, especially given the tight tolerance times shippers have for on-time delivery," says Scott Elliff, co-founder of the International Logistics Quality Institute (ILQI), Arlington, Va., which released the initial findings. "We expect that the level of attention devoted to provider performance measurements and management will continue to increase over the next several years."
More than 800 shipping managers representing a broad selection of users completed this survey. Service reliability, competitive rates and fast transit times are the attributes they identified as most important in choosing air cargo providers. Eighty-five percent of the shipping managers surveyed said they expect to maintain or increase airfreight's share of intercontinental transportation spending in 2004.
Some 45% of shippers who responded to the 2003 International Air Cargo Quality Survey identified themselves as "very satisfied" with their providers, with another 38% toning down their responses by reporting to be somewhat satisfied. Nearly half said they receive on-time delivery levels in excess of 98%, with just 10% saying they receive service levels below 90%.
"Because air freight is such a critical cog in the machine of today's global economy, the need for providers to continuously meet the expectations of intercontinental air shippers is paramount, especially given the tight tolerance times shippers have for on-time delivery," says Scott Elliff, co-founder of the International Logistics Quality Institute (ILQI), Arlington, Va., which released the initial findings. "We expect that the level of attention devoted to provider performance measurements and management will continue to increase over the next several years."
More than 800 shipping managers representing a broad selection of users completed this survey. Service reliability, competitive rates and fast transit times are the attributes they identified as most important in choosing air cargo providers. Eighty-five percent of the shipping managers surveyed said they expect to maintain or increase airfreight's share of intercontinental transportation spending in 2004.
Friday, October 24, 2003
Supersonic flight via the Concord comes to an end
The Concord lands for the final time: Conceived in the 50's, built in the '60's, and flown since the 70's - supersonic filght comes to an end.
Acquisition proposal causes the European Commision to open an in-depth inquiry
Survey: Manufacturing COOs Foresee Better Times
A solid majority -- 63% -- of manufacturing company COOs believe that their companies will be in an even better position a year from now, according to a Deloitte & Touche LLC survey. And, reflecting the pace of globalization, 64% of the COOS say that a significant portion of their companies' revenue growth will come from entry into new geographical markets.
The manufacturing executives were part of a summer 2003 survey of more than 600 COOs in 16 countries and six major industry groups, including manufacturing. Some 30% of the executives are in companies with annual revenues of more than $1 billion.
Of the overall global group, 62% expect their companies to post better business results in 2004 than this year, with COOs in the U.S. the most optimistic about economic growth. Some 79% foresee economic advance during the next year. - John McClenahen
The manufacturing executives were part of a summer 2003 survey of more than 600 COOs in 16 countries and six major industry groups, including manufacturing. Some 30% of the executives are in companies with annual revenues of more than $1 billion.
Of the overall global group, 62% expect their companies to post better business results in 2004 than this year, with COOs in the U.S. the most optimistic about economic growth. Some 79% foresee economic advance during the next year. - John McClenahen
U.S. Jobless Claims Decline
Although it's still too early to be certain of a trend, the U.S. labor market is showing signs of increasing strength. For example, the U.S. Labor Department reported on Oct. 23 that the number of initial claims for unemployment insurance fell last week to 386,000, in line with economists' expectations and some 4,000 fewer than the previous week's revised figure of 390,000.
The department's four-week moving average of initial claims was unchanged from the week before at 392,250.
What is encouraging is that both the one-week and four-week numbers remained below the 400,000 mark that's generally considered the dividing point between a weakening and strengthening labor market. - John McClenahen
The department's four-week moving average of initial claims was unchanged from the week before at 392,250.
What is encouraging is that both the one-week and four-week numbers remained below the 400,000 mark that's generally considered the dividing point between a weakening and strengthening labor market. - John McClenahen
