December 2009

Producer prices rose more than expected in November, lifted by a surge in energy costs, and recorded the first year-on-year gain since last November, according to the Department of Labor.

The Labor Department said the seasonally adjusted index for prices paid at the farm and factory gate jumped 1.8 percent, the largest gain in three months, following a 0.3 percent rise in October.

Compared with the same period last year, producer prices surged 2.4 percent in November, posting their first gain in a year and the largest rise since October 2008.

The Labor Department report said gasoline prices rose 14.2 percent month, eclipsing a sharp moderation in food price increases. Read the rest of this entry »

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The Holiday Season is decked in black for savvy PR pros, as this time of year is often slow in the news business, especially with regard business news.

Pros know this season represents one of the best times of year to generate media attention for their clients, especially with stories that might be considered marginal by reporters at other times. While many PR firms view this period as one to relax and coast, the pros are opportunistic and see it as a time when “news holes,” or the space available for news, often have relatively little hard business news.

That means there is more space available for those stories that might not make the cut at other times of the year, and a bit more willingness to showcase lesser-known companies and product.

This doesn’t mean that media placement during the holiday season is a given. What it does mean is that if creativity is exercised, the proposal is well crafted, and
the public relations professional has a clear understanding of what will advance the reporter’s agenda, a story that might be rejected during a busier time stands a better chance of being run.

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Wholesale inventories in October, 2009 increased by 0.3% from September but decreased 13.5% from October, 2008 to $379.6 billion. Sales increased 1.2% from the prior month but declined 9.6% from the prior year, to $326.2 billion.

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The U.S. Census Bureau reported today that October 2009 sales of merchant wholesalers, except manufacturers’ sales branches and offices, after adjustment for seasonal variations and trading-day differences but not for price changes, were $326.2 billion, up 1.2 percent (+/-0.7%) from the revised September level, but were down 9.6 percent (+/-1.6%) from the October 2008 level. The September preliminary estimate was revised upward $2.0 billion or 0.6 percent. October sales of durable goods were up 0.8 percent (+/-1.4%)* from last month, but were down 11.1 percent (+/-2.6%) from a year ago. Sales of computer and computer peripheral equipment and software were up 5.8 percent from last month and sales of electrical and electronic goods were up 5.3 percent. Sales of nondurable goods were up 1.6 percent (+/-0.7%) from last month, but were down 8.3 percent (+/-1.1%) from last year. Sales of petroleum and petroleum products were up 5.9 percent from last month and sales of farm product raw materials were up 5.1 percent. Read the rest of this entry »

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Dubai ring-fenced prized assets such as Emirates airline (EMIRA.UL) from the $26 billion debt restructuring of Dubai World, denting fragile investor sentiment and raising questions on slated assets.

The move came before the troubled state-owned conglomerate’s meeting with main bank creditors on Monday to discuss a request to delay repayments that has shaken global markets and damaged the reputation of the Gulf’s business hub.

Top officials in the region downplayed the emirate’s debt woes. Bahrain’s central bank governor said the kingdom’s exposure to Dubai World (DBWLD.UL) was limited to $281 million, while the biggest lender in Qatar and Deutsche Bank both said they had no exposure.

Qatar’s prime minister, whose country is one of the region’s biggest investors, blamed exaggeration by the media for amplifying the impact of Dubai’s debt.

Dubai’s finance chief said that Dubai World might sell some assets to finance its commitments, but that the emirate’s government would not chip in with any disposals of its own.

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