Privately-owned housing starts in May were at a seasonally adjusted annual rate of 975,000, 3.3% below April and 32.1% below May 2007, according to the U.S. Census Bureau and the Department of Housing and Urban Development.
Single-family housing starts in May were at a rate of 674,000; this is 1% below April. The May rate for units in buildings with five units or more was 280,000.
Latrobe, PA-based Kennametal Inc. has agreed to sell On Time Machining Company to Kyocera Industrial Ceramics Corporation, Vancouver, WA.
ProBuild Holdings Inc., Denver, CO, has appointed Bill Myrick as chief operating officer.
A recent survey by McKinsey Quarterly (found here) says that nearly half of all respondents don't expect their companies to raise prices over the next six months. The manufacturing sector was the one exception.
On the manufacturing side, nearly 90% have seen an increase in the cost of inputs. And only in the manufacturing sector, McKinsey says, did a majority of respondents say their companies had raised prices and will continue to do so in the next six months.
My takeaway: Now is not the time to shy away from price increases. Suppliers are eager to pass on their rising ...
After four months and four bids, retailer Staples Inc., Framingham, MA, finally found the formula for reeling in Corporate Express NV. The offer to purchase the international office supplies distributor received the recommendation for approval from Corporate Express's supervisory and executive boards on June 11.
The stockholders of Industrial Distribution Group, Inc., Atlanta, GA, distributor of maintenance, repair, operating and production (MROP) products and integrated supply services, have voted to approve the merger in which the company will be acquired by an affiliate of Luther King Capital Management.