U.S. ECONOMY Signs that the business cycle may have reached its trough strengthened as inventories were again reduced in the second quarter at a yearly pace, estimated by JP Morgan, of $162 billion. After 10 consecutive months of decline, replacement demand alone can be expected to support manufacturing activity ahead. Just as importantly, U.S. worker…
June 4, 2009 U.S. ECONOMY Preliminary estimates of 2009 first quarter GDP suggest only a slight improvement from 2008’s fourth quarter (-6.1 vs. -6.3); however, the massive federal stimuli coming forward point to a possible leveling and then rebound in the quarters ahead. Much of the last quarter’s contraction centered on decreases in exports (-30%) and a reduction…
May 11, 2009 Raving Fans: A revolutionary Approach to Customer Service, by Ken Blanchard and Sheldon Bowles (1993, William Morrow and Company) is a simple and satisfying morsel of sage business advice echoing Catholic economic and moral principles of subsidiary, self-surrender and charity. Written as a fast-moving fable, resulting in a simple, quick read, typical of Blanchard’s style,…