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October 25, 2012
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News for the outdoor power equipment industry |  Click here for GIE+EXPO information

  Top Story 
  • OPEI helps sponsor industry event in Louisville, Ky.
    The Outdoor Power Equipment Institute is one of three trade groups sponsoring the three-day Green Industry Equipment Expo at the Kentucky Exposition Center in Louisville, Ky. The event offers an opportunity for professionals in the lawn equipment and landscaping industry to interact and test new equipment and products. More than 22,000 people are expected to attend. The Courier-Journal (Louisville, Ky.) (10/24) LinkedInFacebookTwitterEmail this Story
  Industry Buzz 
  • BASF cites problems at Texas plant for third-quarter earnings
    BASF announced its third-quarter earnings slipped 21% to $1.23 billion, compared with about $1.55 billion last year. The company cites technical issues at its plant in Port Arthur, Texas, for the decline as well as lower prices for its chemical products because of the weak global economy. The company kept its profit outlook for the remainder of the year but sees slower growth and industrial production worldwide. The Kansas City Star (Mo.)/The Associated Press (10/25) LinkedInFacebookTwitterEmail this Story
  • Caterpillar's plan to trim production could affect its Ind. facility
    Caterpillar's plan to reduce production at its facilities to control inventory could affect workers at its plant in Lafayette, Ind. The company plans to curb production through temporary plant closures, four-day work weeks and layoffs, but it has not issued specific plans for each facility. The firm's Large Engine Center in Lafayette said in August it would lay off 167 from its flexible workforce. Journal and Courier (Lafayette, Ind.) (10/23) LinkedInFacebookTwitterEmail this Story
  • Other News
  Economic Indicators 
  • U.S. factory activity gains, but outlook uncertain
    In contrast with China and Europe, U.S. manufacturing in October was in the positive zone and rising with a flash Markit PMI of 51.3, up from 51.1 in September. But gains might not be sustained, with weakness showing in domestic and overseas orders alike. "Purchasing managers report that the key to the ongoing weakness remains uncertainty among customers in export markets, notably Europe and Asia," said Markit chief economist Chris Williamson. Reuters (10/24) LinkedInFacebookTwitterEmail this Story
  Inside & Out 
  • Lessons in management from the Boston Red Sox
    If your top employees are underperforming, it's up to you to step in and put things right, argues S. Chris Edmonds, who examines the woes of the 2012 Boston Red Sox. "Don't assume the issues will go away; they don't. Address them proactively and engage team members in solutions they believe in," he advises. SmartBrief/SmartBlog on Leadership (10/23) LinkedInFacebookTwitterEmail this Story
  • Take a tax deduction when your equipment stops working
    You might be able to take tax deductions if you have to abandon assets or if you have suffered losses because of an "unexpected occurrence that renders your business property useless," Bonnie Lee writes. If you decide to abandon an asset such as a machine because it is no longer useful, you can't just set it aside, she notes. "The item must be destroyed, donated to charity or converted to personal use," she writes. Fox Business Small Business Center (10/19) LinkedInFacebookTwitterEmail this Story
  Policy Update 
  • Stimulus efforts will continue, Fed says
    The Federal Reserve's Federal Open Market Committee said it will continue its stimulus efforts because the nation's economic recovery is too weak to significantly reduce unemployment without help. "The committee is concerned that, without further policy accommodation, economic growth might not be strong enough to generate sustained improvement in labor market conditions," the committee said. The New York Times (tiered subscription model) (10/24) LinkedInFacebookTwitterEmail this Story
  OPEI News 
  • Outdoor Power Report: A quarterly update for OPEI members
    OPEI's quarterly summary of issues and activities is now available. Read the report. LinkedInFacebookTwitterEmail this Story
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In any field, find the strangest thing and then explore it."
--John Archibald Wheeler,
American theoretical physicist

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