August 30, 2007 - Modern Distribution Management

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August 30, 2007

Housing Drags on 2Q GDP

Building Materials/Construction, Economic Trends, Free, News, Research & Analytics, Subscriber Only, Top Distributor Sectors /

Residential investment continued to drag on GDP growth in the second quarter, according to the latest estimates by the Bureau of Economic Analysis.
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Real gross domestic product -the output of goods and services produced by labor and property located in the U.S. -increased at an annual rate of 4% in the second quarter of 2007, according to preliminary estimates.
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In the first quarter real GDP increased 0.6%.
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These GDP estimates are based on more complete source data than were available for the advance estimates released last month. In the advance estimates, the increase in real GDP was 3.4%.
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The increase in the second quarter reflects positive contributions from personal consumption expenditures (PCE) for services, exports, …

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Metals Drive Down Prices in Canada

Economic Trends, Free, Metals Service Centers, News, Research & Analytics, Subscriber Only, Top Distributor Sectors /

Source: Statistics Canada

In July, falling prices for metals and the strength of the Canadian dollar drove the prices of manufactured products down for a third consecutive month, while a jump in crude oil prices pushed raw materials prices upward.
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From June to July, prices charged by manufacturers, as measured by the Industrial Product Price Index (IPPI), fell&nbsp ; 0.7% following two consecutive monthly declines. The drop in prices essentially reflects lower prices for primary metal products, motor vehicles and other transportation equipment, as well as chemical products. However, higher prices for petroleum and coal products, and lumber and other wood products tempered the decline in the IPPI.
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HD Supply Deal Closes

Building Materials/Construction, Companies, Finance, Free, Mergers & Acquisitions, News, Subscriber Only, Top Distributor Sectors /

The Home Depot has completed the sale of HD Supply to a trio of private equity firms -Bain Capital, Clayton Dubilier & Rice, and Carlyle Group.
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As announced earlier this week, the terms were as follows: Purchase price of $8.5 billion, The Home Depot to own a 12.5% equity interest for $325 million, and The Home Depot guaranteed a $1 billion senior secured loan.

The acquisition includes a portfolio of 11 businesses and HD Supply Canada. The company will retain the HD Supply name.

We are thrilled to be associated with this group of distinguished private equity firms, and we are excited about the tremendous opportunities that lie ahead for our associates, our customers and our new owners,” said Joe DeAngelo, CEO of HD Supply. “As an …

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