Sharp Corporation announced that it has decided to end production of solar panels at its factory in Memphis, Tennessee, the Nikkei reported today. As a result, 300 jobs will be eliminated at the facility.
Economic Trends
Startling Jump in November Housing Starts; Are Happy Days Here Again?
Newly released data from the Commerce Department shows that housing starts took what many are characterizing as a startling jump in November – rising 23% overall above the October rate and almost 30% above the November 2012 rate. Analysts are struggling to explain the gains other than to say these numbers show a durable housing recovery – welcome news considering the fact that the housing construction industry is a key driver of the overall economy.
The news is good…but is it a real recovery, or just an outlier?… [Read more…] about Startling Jump in November Housing Starts; Are Happy Days Here Again?
Consumer Confidence Index at Lowest Level in 7 Months
The Conference Board released today its closely watched Consumer Confidence Index – a monthly reading on the sentiment of consumers about the economy. The reading for the month of November at 70.4 fell slightly from the October reading of 72.4. October, however, had fallen sharply from the September and the current reading is the lowest since April.
What’s dragging consumer confidence down at this critical holiday shopping season?… [Read more…] about Consumer Confidence Index at Lowest Level in 7 Months
Praying at CEA’s Church of Data Dominion
CE Week kicked off last week with a Research Summit where the Consumer Electronics Association’s (CEA) market research experts presented the latest market data, along with their assessment of its meaning – and their prognostications for the future. In past years, this was a presentation that was included as part of the Line Show – now it has been split off as a separate day-long event including not only raw data, but various discussion panels as well.
And the data did not disappoint… [Read more…] about Praying at CEA’s Church of Data Dominion
Existing-Home Sales Hit Highest Level in Almost 3-1/2 Years
In a new report from the National Association of Realtors (NAR) that further reinforces the rebound in the housing market, sales of existing homes for the month of April rose to their highest level in the almost 3½ years since November 2009. And while there were minor quibbles of forecast misses, overall the report contained clear evidence of positive trends including solid pricing increases – as well as an increasing pace of sales.
The NAR has some concern about tight inventory, but see more on this good economic news… [Read more…] about Existing-Home Sales Hit Highest Level in Almost 3-1/2 Years
Are You Using These Best ‘Tough Economy’ Marketing Practices of Top-Performing SMBs?
How are top-performing small-to-medium sized businesses (SMBs) adjusting their marketing for the current sluggish economic climate? Act-On Software, a marketing automation software company, commissioned Forrester Consulting to find out by probing hundreds of SMBs in an effort to learn more about their marketing practices – especially in regards to tactics employed in response to the recent economic morass within which we all find ourselves. A few months ago, Forrester and Act-On released excerpts from the research titled Driving SMB Revenue in a Tough Economy – excerpts that revealed several interesting insights into the differences between the marketing practices of top-performing companies as contrasted to overall results…or those of bottom-performing companies.
There are some interesting insights from what they discovered… [Read more…] about Are You Using These Best ‘Tough Economy’ Marketing Practices of Top-Performing SMBs?
Residential Construction Rebound Getting More Convincing Based on December Data
The U.S. Census Bureau released residential construction data for the month of December and the results provide further – and perhaps more convincing – proof that the housing market is showing consistent signs of improvement. Some analysts even call this a housing rebound as overall residential construction starts increased to 954,000 units or 12.1% over the revised November rate of 851,000 units.
There’s even more good news in this report that lends credibility to the housing rebound… [Read more…] about Residential Construction Rebound Getting More Convincing Based on December Data
Contrary to Other Housing Data, New Home Sales Decline in October
In a somewhat surprising reversal of fortune for the housing market, new data from the U.S. Department of Commerce shows that sales of new single family homes actually declined in October to a seasonally adjusted annual rate (SAAR) of 368,000 units. This rate is a decline of 0.3% below the revised September rate of 369,000 units.
What does this new data mean for the housing recovery?… [Read more…] about Contrary to Other Housing Data, New Home Sales Decline in October
Moody’s Cuts Panasonic’s Credit Rating for the Third Time This Year – Now Near Junk
Panasonic Corp., once one of the most powerful electronics companies in the world, now finds that its credit rating has been lowered by Moody’s Investors Service to the lowest level still considered investment grade – only one step above junk. Moody’s, one of the largest credit rating agencies, has revised Panasonic’s rating twice before this year – and this third revision dropped the company’s credit rating two grades to Baa3…the lowest level considered investment grade.
What prompted Moody’s to make this huge downgrade of Panasonic’s credit?… [Read more…] about Moody’s Cuts Panasonic’s Credit Rating for the Third Time This Year – Now Near Junk
Sharp Asks 2,000 Employees to Leave – 3,000 Raise Their Hands
Sharp Corp., the struggling Japanese manufacturer that is widely reported to be scrambling to survive, recently offered buyout packages to employees hoping that 2,000 would agree to leave the company. To their surprise, almost 3,000 employees volunteered to leave – good for the company, but a sign of their lack of confidence in the company’s ability to return to profit anytime soon.
See more on this latest indicator of the company’s struggles…
[Read more…] about Sharp Asks 2,000 Employees to Leave – 3,000 Raise Their Hands
