Economic Blast
After a dismal winter, the U.S. economy sprang back to life in the April-June quarter, growing at a fast 4 percent annual rate on the strength of higher consumer and business spending. Last quarter's bounce-back was broad-based, with consumers, businesses, the housing industry and state and local governments all combining to fuel growth.
Confidence among U.S. consumers soared in July to the highest level in almost seven years! The Conference Board's index rose to 90.0, the highest since October 2007, from 86.4 in June.
Quotable
"The sages do not consider that making no mistakes is a blessing. They believe, rather, that the great virtue of man lies in his ability to correct his mistakes and continually make a new man of himself."- Wang Yang-Ming
Ramp/Dock Report: August 2014
As August begins, it will be a month since the expiration of the contract between ILWU West Coast dockworkers and the waterfront employers represented by the Pacific Maritime Association. Despite the absence of a contract, 2014 has been (so far) the calmest ILWU-PMA negotiation in recent history. This is 180 degrees different than the 2008 negotiations that were marred by slowdowns, walkouts and lockouts! All of this good news in the midst of the busiest port season in history with an annual year-over-year increase of 10% in May followed by a 6.9% year-over-year increase for June 2014. Most of us have had to bear the volume increase over the last three months with slower deliveries and heavy port congestion!
Absolute Intermodal, LLC is excited to announce our newest operating entity, All Decks Intermodal, LLC. The All Decks division will be marketing a door-to-door product using the newest intermodal flat deck to help on consistent moves that would normally go over-the-road via truck and flatbed trailer. Available operating locations are currently being formulated and should have pricing and points available by October 2014. Please let us know if you have any interest in this and we can determine the pricing as well as the operating timetable.
Please remember that we are attending the IANA EXPO in Long Beach from September 20-23 this year. We look forward to meeting and visiting with many of our business partners, customers and friends. The All Decks Intermodal team is with us there so let us know if you have any moves that we can look at serving.
Lessons from the Past
Murray Irwin "Moe" Norman (July 10, 1929 - September 4, 2004) On July 23, 2012, the sun unleashed two massive clouds of plasma that barely missed what would have been a catastrophic contact with our earth's atmosphere. These energy clouds, known as coronal mass ejections (CME's), made for the most powerful solar storm in at least 150 years! A CME of this magnitude and strength striking the earth would likely cripple satellite communications and badly damage the power grid.
In September of 1859 a similar solar storm; that ultimately was named after English astronomer Richard Carrington, which effects were seen when the northern lights (aurora borealis) were visible as far south as Cuba and Hawaii, according to historical accounts. During the Carrington event, the solar energy caused global telegraph lines to spark, igniting some telegraph office in flames!
Although the event was nearly two years ago, it is such an incredibly dangerous event that the government concealed the threat until just the past week. NASA studies report that there is a 12% chance of another event similar to the Carrington solar storm occurring on earth in the next 10 years! The question is; are we ready for the potentially disastrous impact of these solar storms (CME's)? Unequivocally not!