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Consumer Sentiment Falls, Retail Sales Growth Sluggish And Other Economic News Of Note
The Thomson Reuters/University of Michigan preliminary reading of consumer sentiment in September, released Sept. 13, fell to 76.8, the lowest reading since April. The final August Sentiment Index stood at 82.1, down significantly from the post-recession highs seen in the May through July period. UM Surveys of Consumers Chief Economist Richard Curtin attributed the sharp…
Consumer Confidence Measures Plunge Post-Shutdown
Just as nearly everyone expected, the federal government shutdown and debt-ceiling brinkmanship undercut consumer confidence. The Thomson Reuters/University of Michigan Consumer Sentiment Index fell more than four points or 5.5% to 73.2 in the final October reading. This was down from 77.5 in September and 82.6 a year ago. The October reading was the lowest…
MAFSI Barometer Up 4.5% In Third Quarter
The MAFSI Business Barometer maintained by the Manufacturers’ Agents Association for the Foodservice Industry rose 4.5% in the third quarter from the same quarter in 2012. The gain compares with a record 6.1% jump in the second quarter and a 2.4% increase in the first quarter, the weakest quarter since the Barometer recovered in late…
Fallout From The Big Gulp Bill
The New York City bill banning supersized sugary drinks might have gone down to judicial defeat last week, but the state court ruling was only the tip of the iceberg in an attempt at reining in government interference in the foodservice industry. The Mississippi Legislature has passed a bill stating any law that might restrict…
EU Drops Plan To Ban Tabletop Olive Oil Dipping Bowls
The controversial decision by the European Union to ban restaurants from using refillable jugs and bowls of olive oil has been dropped. After a deluge of criticism from the foodservice industry and consumers, bureaucrats in Brussels have scrapped the proposed regulations, which were described as “nonsense” by Martin Couchman, the deputy CEO of the British…
Hot Topics Simmer In State Legislatures
Summer is here, legislation is pending and most state governments are in adjournment. Here’s what’s on the docket during these dog days of August: Meal Taxes: Minneapolis is one of a growing number of cities seeking to shore up governmental coffers with so-called meal taxes. More and more municipalities are considering appending additional taxes to…
EPA Releases Update On Lead Reduction Act
The U.S. Environmental Protection Agency has released updated information and an FAQ document on the Reduction of Lead in Drinking Water Act, which takes effect in January 2014, and may impact a variety of commercial foodservice equipment hooked up to potable water. Congress enacted the RLDWA in January 2011 to amend Section 1417 of the…
Minneapolis-Based Premier Gains Equity Partner
Hillcrest Capital Partners, a Minneapolis-based private investment group, is pleased to announce it has made an investment in Premier Restaurant Equipment. Minneapolis-based Premier is a full-service foodservice design and equipment firm specializing in casinos, health care, specialty restaurants, hotels/lodging, multiunit operations, sports bars, entertainment facilities and cafeterias. It was founded in 1989 by Jim Hara…
New Office For Standex
The Standex Cooking Solutions Group has recently moved into new offices housing the Standex Culinary Development Center. The Group now is located at 1307 N. Watters Dr., Ste. 180, Allen, Texas 75013. Phone: 214/421-7366. Customer Service Fax: 214/565-0976. Local and toll-free numbers for Standex’ five companies—APW Wyott, BKI, Baker’s Pride, Bevles and Tri-Star—are unchanged.
What We All Owe FEDA’s Ray Herrick
We just returned from San Antonio, Texas, and FEDA’s 2013 Annual Convention. From the sight of FEDA and Wasserstrom Co. Pres. Brad Wasserstrom riding into the opening reception on a long-horn steer, to the savory taste of chicken waffles and braised short ribs served at the closing banquet, FEDA members , suppliers and hangers-on such…
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