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Time to Restart Trucking Hours of Service Rules

As Congress works to wrap-up its legislative business this week, the House has an important opportunity to improve road safety and correct a very flawed trucking regulation that the Obama Administration implemented last year.

Manufacturers strongly support bipartisan language approved by the Senate Appropriations Committee to be included in the FY 2015 omnibus appropriations conference package that would require further study of the 34-hour trucking Hours of Service restart provision and provide a one-year pause of significantly burdensome requirements to determine whether changes are necessary. (continue reading…)

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No-Grow-Zone: Manufacturers Feel the Impact of Costliest Regulation Ever

It’s Back. The Most Expensive Regulation in History

I have continued to underscore the importance of reducing regulatory burdens and regulatory uncertainty, particularly as our economy continues to recover. With that in mind, and after careful consideration, I have requested that Administrator Jackson withdraw the draft Ozone National Ambient Air Quality Standards at this time.” –President Obama, September 02, 2011

It’s been just over three years since President Obama decided the U.S. economy could not withstand the regulatory burdens and costs of a new ozone regulation. Facing reelection and a struggling economy, the President gave businesses and households a reprieve from an Environmental Protection Agency (EPA) regulation that could have been the most expensive ever issued. The reprieve ended November 26. The country’s most expensive regulation? It’s back. (continue reading…)

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Pass the LEADS Act Now

As manufacturers look to sell their products to customers around the globe they count on the quality of their goods to make the sale. Earning the trust of the customer, however, can help close the deal. If for any reason that trust is undermined, it can shut the door to current and future business. That’s why the NAM is supporting the Law Enforcement Access to Data Stored Abroad Act, or LEADS Act, (S. 2871), introduced by Senators Hatch (R-UT), Coons (D-DE), and Heller (R-NV). (continue reading…)

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Monday Economic Report – December 8, 2014

Here is the summary for this week’s Monday Economic Report: 

This morning, we will release the results from the latest NAM/IndustryWeek Survey of Manufacturers. Business leaders continue to reflect optimism about the coming months, with 91.2 percent of survey respondents saying they are either somewhat or very positive about their own company’s outlook. Moreover, manufacturers predict growth of 4.5 percent in sales and 2.1 percent in employment  over the next 12 months, with both experiencing the strongest pace in at least two years. (continue reading…)

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Baltimore Manufacturer Makes Case for Keystone in Recent Column

Drew Greenblatt, President of Marlin Steel and NAM Executive Committee Member, recently published an article in Inc. Magazine entitled, “10 Reasons Obama Should Embrace the Keystone XL Pipeline.” Senators from both sides of the aisle voted to get this project moving and yet S. 2280, Senators Hoeven and Landrieu bill to approve the Keystone XL Pipeline, recently fell one vote short of passing the U.S. Senate. (continue reading…)

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Jobs Numbers Strong in November; However Headwinds Remain

The Bureau of Labor Statistics said that manufacturers added 28,000 net new workers in November, extending the revised increase of 20,000 in October. This was a relatively strong number, suggesting that the manufacturing sector has averaged just shy of 15,000 additional employees per month through the first 11 months of 2014. Since the end of 2009, manufacturers have hired an additional 740,000 workers on net.

These data show that the more-robust growth in new orders and output seen in other indicators are beginning to translate into healthier hiring figures. Indeed, manufacturing leaders remain mostly upbeat in their outlook, which should bode well for hiring in the sector as we move into 2015. At the same time, there also continues to be worries about the global economy as well as concern over other headwinds such as rising health care costs and regulatory burdens. (continue reading…)

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Manufacturers: The Quiet Pillars of Community Service

Manufacturers helping their communities.
Photo courtesy of Kimray, Inc.

It was no surprise to us at the NAM to see IndustryWeek highlight eight of the most charitable manufacturers in the United States for a holiday season story. Manufacturers of all sizes are leaders in their communities all year long and are committed to giving back. Read the full article on www.nam.org.

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House Approves End-User CTU Fix

Manufacturers are one step closer to gaining certainty on whether they will be faced with unnecessary regulatory hurdles simply for structuring in an efficient way to manage business risk.

Many manufacturers use derivatives to hedge everyday business risks stemming from fluctuations in commodity prices, currency and interest rates. These manufacturers, and other nonfinancial end-users, typically employ a “command center” called a centralized treasury unit (CTU) to oversee the company’s derivatives transactions, vital to a manufacturer that  has multiple affiliates. (continue reading…)

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ISM: Manufacturing Activity Remained Healthy in November

The Institute for Supply Management’s (ISM) manufacturing purchasing managers’ index (PMI) edged marginally lower, down from 59.0 in October to 58.7 in November. October’s reading had been the highest level since March 2011. Despite the slight decrease, it is clear that manufacturing activity remained healthy in November. The headline PMI figure has averaged 58.1 so far in the second half of 2014, which represents progress from the average of 54.0 for the first half of the year. Moreover, the sector has largely rebounded from the weather-related softness in January (51.3). (continue reading…)

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NAM Weighs in on Improved Proposal on Margin Requirements for Derivatives Users

The NAM on November 24 joined the Coalition for Derivatives End-Users in submitting comments to the Federal Reserve and Prudential banking regulators thanking them for taking a positive step forward in their new proposed margin rule. The letter also calls attention to issues that still need to be resolved, including how end-users with centralized treasury units (CTUs) will be treated. (continue reading…)

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