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Factory Orders Drop 1.4%, Big Miss To Consensus, Snap Eight Month Winning Streak
May factory orders are the latest casualty of the gradual stimulus withdrawal: the forecast decline of -0.5% was almost tripled, coming out at -1.4%. This compares to an April increase of 1.0%. From the release: "New orders for manufactured goods in May, down following eight consecutive monthly increases, decreased $5.8 billion or 1.4 percent to $413.2 billion, the U.S. Census Bureau reported today. This followed a 1.0 percent April increase. Excluding transportation, new orders decreased 0.6 percent." And the artificual GDP booster, inventory ramp ups, has now plateaued: "Inventories, down following four consecutive monthly increases, decreased $2.0 billion or 0.4 percent to $520.4 billion. This followed a 0.6 percent April increase. The inventories-to-shipments ratio was 1.25, up from 1.24 in April." Little one can add here: this is merely the latest crumb on the path in the search for the full blown Double Dip Depression.
Full release.
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We have factories?
Yes, they are those huge building off the interstates with "FOR LEASE" signs on them. OH...you meant active and thriving factories. Uh, no.
Boilermaker
I once worked demolition for salvage tearing down a factory.
I should have taken that as a sign.
I actually work for a manufacturer of products in Michigan / a factory. We are doing "OK". Why? Because several of our competitors failed outright. So, with competition failing and spilling over into our order books, we are still just treading water and maintaining revenues.
What really sucks is that I think we did / could again have a world class manufacturing industry. Of course, there is no political will to make that happen. But, my god, we do actually know what we are doing here. We do have some great minds in the industry and some will to do it.
Factories to make shovels for the "shovel ready" jobs...like to dig out of this big pile of BS with.
ES barely moved a single handle when that was released. I guess everyone went home after the jobs #
"Make no mistake We are headed in the right direction"
(didn't he mean "left"?)
well there seems to be an uncanny relationship between this and the S and P right now
fa ctory orders drop 1.4 percent, market rises 1.4 points
Anyone considered that those green shoots are just evidence of dysentery settling in?
On a positive note Obama announced another $800MM in grants for high speed internet. Now even the most rural areas of our country will soon have high speed access to porn. Change I can believe in!!
http://voices.washingtonpost.com/posttech/2010/07/obama_to_announce_795_million.html
From Marketwatch - "Factory orders keeps picture gloomy for gold, oil".
I understand oil, but gold? What does the price of gold have to do with factory orders?
The forecast for the alchemy sector is down. They've recently ramped up gold manufacturing capacity, but with looming deflation, demand is down.
Factory orders down == risk off == delever == sell gold == gold down.
Marketwatch is a joke. Only Farrell has anything good to say there. The gold articles are more ridiculuos that Jon Nadler
guess the vanishing of those over 1.3 million people from the workforce in the last 2 months is taking it's toll.
Im buying stock in Acme turd buryers and sunshine ass blowers, the hottest products for the Obama regime!
Freakin' awesome. Though it's early, that one's in the running for best post of day.
Want to vomit? Read this article.
http://mondoweiss.net/2010/05/kagan-appointment-shows-jews-are-the-new-w...
chancee
I've seen the rise of the Jew on television. Every show now has a required token Jew who just has to speak of Jewish holidays and traditions and eventually the Holocaust.
Why are they so scared they need the vacuous self promotion?
Plus shows like Royal Pains, the story of a Jewish concierge doctor to the rich in the Hamptons,are now promoting the problems of the wealthy. They do need all our sympathy and all our money.
JUNK.
+1. Hey, Gully, we already have our share of anti-semites on this site. How do you feel about today's economic news?
EDIT: disclosure - Jew
lol nice one. Im gonna try finding that show and try it out
"lol nice one. Im gonna try finding that show and try it out"
Of course you will!
You must be the ZH token racist. Is that a paper bag for your avatar, or a white hood?
At chancee
I didn't junk you, because I'm not 100% (99.99%) sure what you're getting at. The article is rather nauseating.
I wonder why it's more pukeworthy than any article of self-aggrandizement or promotion of one's religion? Perhaps when you choose your avatar, you could find one with a hood or a swastika?
Disclosure - Not a Jew. Wanna be down on Isreal for politics/position? Be my guest. AntiSemite for the sake of bigotry? JUNK.
Your flatulent bleatings are flaccid and unamusing...like chat roulette with child molesters.
The real power in this country is the Illuminati religion. Alot of the things the Illuminati do, they blame on others, and by posting this you let them win and fall into their misdirection.
This by far a more realistic economic indicator than BLS UE rate. Factory owners are somewhat held accountable for phoney numbers and gain nothing by inflating productivity figures.
Latest CNBC Onion Headline
"Job Losses are Latest Sign Recovery is Losing Steam"
Greenspan meanwhile said yesterday that, all these are a sign of economic recovery. I wonder if the so called 'world's greatest economic minds' have their brains in their balls and that their brains are filled with steaming pile of manure.
it's not that they have their brains in their balls
it's that they have neither
I thought Greenspan said double dip was likely.
Either he was misquoted or he can't make up his mind.
He's too old to be taken serious anymore.
"Into The Void"
Rocket engines burning fuel so fast
Up into the night sky they blast
Through the universe the engines whine
Could it be the end of man and time
Back on earth the flame of life burns low
Everywhere is misery and woe
Pollution kills the air, the land and sea
Man prepares to meet his destiny
Words fail me
http://www.onpointnews.com/NEWS/Bias-Suit-Claims-New-Age-Boss-Fired-Woma...
Bias Suit Claims New Age Boss Fired Woman for Fetus Print
A Nebraska home builder that encourages employees to follow New Age philosophies has been sued by a former employee who says the CEO of HearthStone Homes fired her because her fetus brought “negative energy” into the workplace.
Jammie Harms' case takes employment discrimination law in a novel direction by alleging her boss's “negative religious response” to her pregnancy created a hostile work environment. HearthStone CEO John J. Smith allegedly fired her as his executive assistant in June 2009 — three months after she told him she was pregnant.
Smith, a disciple of “intuitive spirituality,” believes, among other things, that employees can become more productive by having “negative energy” cleansed from their bodies. His company has certainly been productive, claiming to build one out of every four homes in Omaha.
But according to Harms, he became fixated on the energy emanating from her womb, even discussing her pregnancy with a psychic and a chiropractor. “Once the plaintiff notified the Defendant of her pregnancy her work environment drastically changed,” she alleges in a complaint filed June 14.
“The work environment became hostile towards the plaintiff,” she continues. “She was specifically told that, according to the religious practice of Intuitive Spirituality, the plaintiff’s fetus was creating a negative energy field in the work place.”
In 2003, a former HearthStone sales associate sued the company for firing him because he complained about having to attend mind-body therapy sessions to cleanse his negative energy. But a jury awarded Doyle Ollis only $1 in nominal damages and Smith continues to build his business on New Age principles.
The CEO and other HearthStone managers have “actively attempted to create a spiritual, religious work environment based on concepts incorporating universal energy, concepts of reincarnation, and intuitive spiritualism,” Harms says.
Reverse religious bias cases usually involve allegations that managers tried to force their religious beliefs on an employee or showed favoritism toward employees who shared those beliefs. In 2008, a California jury awarded $6.5 million to a former employee of a temporary agency who alleged she was denied a promotion because she did not belong to an obscure religious group.
A HearthStone vice-president told the Omaha World-Herald that Harms was let go because of the recession. “This [lawsuit] would appear to be just her next response as she tries to bring some sort of conclusion to her moving beyond HearthStone,” Neil Smith, who is not related to the CEO, said.
But a recent article in Builder magazine noted that HearthStone “hasn't gotten bogged down in the national [economic] turmoil.” And Harms insists she was fired “as a result of the defendant’s negative religious response to [her] pregnancy.”
According to the suit, Smith initially responded to the news of her pregnancy by telling her “to be cautious because 'babies can remember things while in the womb', and that Smith’s mother had a sexual affair with another man while she was pregnant with him and that he could still remember the trauma.”
He then allegedly included her in a conference call with a Sedona, Ariz., psychic “to get the psychic's perspective on the affects [sic] of her pregnancy.” A few days later, the suit says, he initiated the call to the chiropractor — “a self-described energy worker” — to discuss “how the plaintiff’s pregnancy was bringing up very negative energy relating to his own experience when he was in his mother’s womb.”
“This incident was terribly troubling to the plaintiff,” says Harms, who is seeking back pay and damages for “emotional pain, suffering, and physical injury.”
HearthStone officials say the goal of Smith's corporate philosophy is “to discover the hero in everyone.” But Harms might just be a sympathetic enough plaintiff to create some positive energy with a jury.
a womb with a bad view
Is this a 'surprise drop', 'unexpected drop', 'expected drop' or 'met expectations drop' ?
It was caused by seasonable weather and the 4th of July being on Saturday caused the "unexpected" events.
Please make available a link to a much larger version of your avatar.
Thank you in advance.
take a look at the new ecri data released this morning ... we are f*cked
fyi -7.7%
the latest troubling numbers also show we have an inventory overstocked with brand new shiny shovels. and if you look closely at those shovels they say made in china anyway.
Food Stamp numbers for April (persons) just came out....+ 310,000 to 40.3 Million.
+6.7 Million year over year.
http://www.fns.usda.gov/pd/29SNAPcurrPP.htm
Households 18.69 million up from 18.53 million last month and + 3.43 million year over year.
I wonder what happens when stores refuse to accept the cards as form of payment because they want cash. Can't be much longer that there will be delays in receiving payments on the cards from the bureau that pays off the cards. Be prepared for that one.
Then the MSM will call them heartless, souless and in league with Healthcare & Insurance providers in their cruelty to the public. All that will be left is for Obamachavez to take them over and nationalize them.
If you do the math between people on public assistance and government employees, state & national..we have to be at 50% or more of the population on tax dollars for their lives. Jeez.
Speaking of orders for manufactured goods…this excerpt from Forbes: “Ten consumer-reliant chains facing financial difficulties” (07.01.10 Yahoo! Finance)
“The recession that began nearly two years ago hit retailers hard. Among the casualties: Electronics giant Circuit City (CCTYQ.PK - News), department store Filene's Basement (BSMTQ.PK - News), outdoorsy outfitter Eddie Bauer (EBHIQ.PK - News), skin care specialists Crabtree & Evelyn, fast food franchise Fatburger and photo experts Ritz Camera were among the chains that have reorganized or liquidated since 2008. …
“Here are ten retail chains that ranked high in our most recent financial-risk rating. The first seven retailers listed below were among a short-list of 50 public companies published on June 10. The remaining firms were not far behind. (minus Frobes and company commentaries—except for CONN’S)
1. Zale Corp. (ZLC - News)
2. Rite Aid Corp. (RAD - News)
3. Great Atlantic & Pacific Tea Company (GAP - News)
Parent of famed grocer A&P, the company also controls the Food Emporium, Pathmark and Super Fresh chains, among others. …
4. Trans World Entertainment Corp. (TWMC - News)
The Albany, N.Y., company is little known to the general public, but millions of mall-goers are familiar with its f.y.e and Suncoast Motion Picture Company music and video chains. …
5. Borders Group (BGP - News)
6. The Bon-Ton Stores (BONT - News)
This York, Pa., clothes retailer operates 280 department stores, mainly in the Northeast. …
7. Perfumania (PERF - News)
8. ValueVision Media (VVTV - News)
Consumers will recognize this home-shopping venture under another name: ShopNBC.
9. CONN'S (CONN - News)
This Beaumont, Texas, appliance and electronic retailer had a 15% drop in revenues in the latest 12 months, resulting in a razor-thin $1.7 million profit. … Accounts receivable--representing sales for which bills remain unpaid--have grown to $125 million from $36 million in fiscal 2007. The company attributes the rise to new accounting rules that forced it for the first time to add receivables for its consumer-loan business to its balance sheet. Historically, 60% of sales to individual customers have been financed by the company. CONN'S has pared that figure to 58% in recent months but doesn't believe it should pull back further. "Our customer is a blue-collar customer--the electrician, the plumber, the pipe-fitter. These are individuals that pay their bills," Chief Executive Officer Tim Frank tells Forbes. (emphasis mine)
10. Liz Claiborne (LIZ - News)
The tony clothing retailer also controls fashion brands Juicy Couture, Kate Spade and Lucky Brand Jeans. …
http://finance.yahoo.com/career-work/article/109974/retailers-on-the-rop...
The fall in the BDI is accelerating...
Nobody needs the raw materials.
Yea, cause the government stopped buying cars!
Certainly a lot of details like that to take into consideration. Thanks windows vps | cheap vps | cheap hosting | forex vps