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TIMBER PRODUCTS March 2017 Newsletter Volume: 03/20/2017
Online Newsletter
Matt McGowan - WPM Program Manager
mmcgowan@tpinspection.com
mmcgowan@tpinspection.com
Office: 770.785.4769
Mobile: 678.480.2451
Mobile: 678.480.2451
For more information on the IPPC program
Please contact:
Matt McGowan
WPM Program Manager
Conyers GA
Office 770.785.4769
Mobile 678.480.2451
mmcgowan@tpinspection.com
The unauthorized and/or fraudulent use of the TP IPPC mark is illegal and a situation we take seriously. Anyone with information regarding the misuse of IPPC marks should contact TP's WPM Manager immediately. Thank you for helping to protect the integrity of the ISPM 15 program which is vital to our business and economy.
Business Notes
COMPANIES HIRED READILY IN FEBRUARY
U.S. firms added 235,000 net new jobs last month, and the latest Department of Labor employment report showed the largest growth occurring in the construction and education/health care sectors. The DoL also revised January’s job gains upward by 11,000 to 238,000. Payroll expansion has averaged 209,000 per month since December. The headline (U-3) jobless rate ticked down 0.1% to 4.7%, and the total (U-6) jobless rate, counting the underemployed, fell 0.2% to 9.2%.1
FED FUTURES MARKET: MARCH RATE HIKE A GIVEN
The CME Group’s FedWatch Tool, which tracks the prices of 30-day Fed Fund futures to get a bead on traders’ reactions to potential monetary policy moves, put the chance of a March 15 quarter-point interest rate hike at 93% Friday. The odds of another quarter-point move in June were put at 51%.2
OIL SLUMPS 9.1% IN A WEEK
During March 6-10, WTI crude had its worst week since November, retreating to a Friday close of $48.49 on the NYMEX. News of rising output and plentiful stateside inventory hurt prices. In other oil news, a billion-barrel crude reserve was just found in the Alaskan interior – the largest such discovery since the 1980s.3,4
RISING CONFIDENCE, TEMPERED SPENDING
At a mark of 114.8, the Conference Board consumer confidence index reached its highest point in 14½ years in February. Just 20.3% of Americans found jobs “hard to get,” the smallest percentage in eight years. A Department of Commerce report, however, showed only average consumer spending in January: personal spending rose just 0.2% in that month, and it actually slipped 0.3% when adjusted for inflation. Personal incomes grew by 0.4% in the first month of the year.5,6
Citations.
1 - equities.com/news/a-strong-jobs-report-and-a-growing-divergence-between-jobs-and-employment [3/10/17]
2 - cmegroup.com/trading/interest-rates/countdown-to-fomc.html [3/10/17]
3 - marketwatch.com/story/oil-moves-cautiously-higher-remains-under-50-a-barrel-2017-03-10/ [3/1/17]
4 - money.cnn.com/2017/03/10/investing/ alaska-oil-discovery-repsol-spain/index.html [3/10/17]
5 - marketwatch.com/story/consumer-confidence-hits-15-year-high-2017-02-24 [2/28/17]
6 - cnbc.com/2017/03/01/us-personal-income-jan-2017.html [3/1/17]
"Good business leaders create a vision, articulate the vision, passionately own the vision, and relentlessly drive it to completion."
Jack Welch
"Our incomes are like our shoes; if too small, they gall and pinch us; but if too large, they cause us to stumble and to trip."
John Locke
Obliteration
ALSC's Wood Packaging Enforcement Regulations define obliteration as "to render the approved mark or stamp unreadable or clearly inapplicable." This basically means to cover all 4 components of the mark. These are identified below.
A mark that has all 4 parts completely covered is considered obliterated and therefore conforming (see below).
When any part of the mark is showing, it is not considered obliterated and therefore non-conforming (See below).
It is very important to remember that all 4 parts of the mark must be obliterated to meet ALSC requirements for conformance. For more information visit our website training section using this link: WPM Training Resources