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November 8, 2012

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News for the outdoor power equipment industry | Click here for GIE+EXPO information

Top Story

Husqvarna plans to lay off 600 workers to reduce costs
Outdoor power equipment maker Husqvarna announced it plans to lay off 600 workers in the first half of next year to reduce costs. The plan is expected to yield savings of $33 million by 2014 and close to half of the workers to be affected are in Sweden. "The proposed measures aim to improve efficiency, reduce the fixed cost base and further increase flexibility," Husqvarna CEO Hans Linnarson said. Bloomberg (11/7)

Industry Buzz

BASF sheds some ventures to avoid job cuts
BASF has decided to shed its wall systems and artificial turf ventures to avoid large layoffs as it seeks to make its operations more efficient. It will also dissolve its plastics unit and create a new division to be called Performance Materials. The News Journal (Wilmington, Del.) (11/6)

How a separate irrigation unit brought green to Utah landscaper
A separate irrigation division has bolstered revenue for landscaping business Lawn Butler in Centerville, Utah, Lindsey Getz writes. Lawn Butler President Rudy Larsen said creating the irrigation unit apart from the landscaping unit allowed him to win contracts and stand out from competitors. "[W]e took the approach that our irrigation technicians would be highly specialized and therefore part of a separate division," Larsen said. "That’s worked well for us." Lawn & Landscape (11/7)

Other News

How to provide optimal lawn repairs in each season
Lawn & Landscape (11/7)

Economic Indicators

Obama's re-election shifts focus to struggling economy


Reuters

With his re-election Tuesday, U.S. President Barack Obama will immediately confront an economy hobbled by uncertainty and slow growth. Markets and the U.S. dollar turned down on news of the election outcome as the focus shifted to the upcoming "fiscal cliff" of automatic budget cuts that could push the economy back into recession. Meanwhile, an expert at Bank of America Merrill Lynch predicts only 1% U.S. growth for the fourth quarter. The Wall Street Journal (11/7), Xinhuanet.com (China) (11/7)

Home prices rise in most U.S. cities, group says
Single-family home prices in the U.S. increased in 81% of cities in the third quarter, the National Association of Realtors said in a report. The median selling price for existing homes was $186,100, 7.6% higher than it was in Q3 2011, the report said. Bloomberg (11/7), MortgageNewsDaily.com (11/7)

Banks rush to provide loans for disaster-hit small businesses
Small businesses hammered by Superstorm Sandy are trying to secure disaster loans to stay operational and banks are taking action to help. "We've put in place an expedited process so that clients can call, and we will review their case in a very short period of time - sometimes right on the phone," says Scott Geller, chief executive officer of Chase Business Banking. Reuters (11/6)

Inside & Out

10 tools to help you track your work
Basecamp, Toggl and Tick are some helpful time-tracking tools and applications, Lindsay Olson writes. For example, Tick offers a free trial and helps you "track time spent on each client project, while viewing where you are with your overall time budget," she writes. U.S. News & World Report/On Careers blog (11/6)

How compelling events affect buyers' behavior
Buyer behavior is influenced by compelling events such as the release of a new product or the aftermath of a devastating storm, writes Dan Bernoske. Such events may be expected or unexpected and can lead to new sales opportunities. "The compelling event defines the reason for the Buyer to act," Bernoske writes. Sales Benchmark Index/Sales Force Effectiveness Blog (11/4)

Policy Update

Business leaders ask for one-year extension on tax cuts
Leaders of several business groups, including the National Association of Manufacturers, have asked Congress to extend tax cuts for at least one year because an agreement on a specific tax policy is likely before the end of the year. The extension would be appropriate in light of a slow economic rebound, said John Engler, president of the Business Roundtable. "Our goal is to grow the economy," Engler said. The Hill/On the Money blog (11/7), Hartford Business Journal (Conn.) (11/7)

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.

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	Recent OPEI SmartBrief Issues: Wednesday, November 07, 2012 Tuesday, November 06, 2012 Monday, November 05, 2012 Friday, November 02, 2012 Thursday, November 01, 2012			Lead Editor: Jennifer Hicks Mailing Address: SmartBrief, Inc.®, 555 11th ST NW, Suite 600, Washington, DC 20004