“The fiscal cliff is the primary driver of uncertainty,” said Timothy Powers, the chief of Hubbell Inc., a maker of electrical products.

Executives at companies making everything from electrical components and power systems to automotive parts say the fiscal stalemate is prompting them to pull back now, rather than wait for a possible resolution to the deadlock on Capitol Hill.

Democrats and Republicans are far apart on how to extend the Bush-era tax breaks beyond January—the same month automatic spending reductions are set to take effect—unless there is a deal to trim the deficit. The combination of tax increases and spending cuts is creating an economic threat called “the fiscal cliff” by Ben S. Bernanke, chairman of the Federal Reserve.

Until recently, the loudest warnings about the economy have come from policy makers and economists, along with military industry executives who rely heavily on the Pentagon’s largess and who would be hurt by the government reductions.

But more diversified companies like Hubbell Inc. in Shelton, Conn., have begun to hunker down as well.

[ Continued ]

Source: The New York Times

Hot Topics

08.02.12
ARPA-E Announces $43 Million for Transformational Energy Storage Projects to Advance Electric Vehicle and Grid Technologies
The U.S. Department of Energy announced that 19 transformative new projects will receive a total of $43 million in funding from the Department's Advanced Research Projects Agency-Energy (ARPA-E) to leverage the nation's brightest scientists, engineers and entrepreneurs to develop breakthrough energy storage technologies and support promising small businesses.
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08.01.12
Smart Grid, the Easy Way
Last year, the Smart Grid Consumer Collaborative’s (SGCC) Consumer Pulse and Market Segmentation research program surveyed over 2,000 U.S. residential electricity consumers to create a holistic segmentation framework categorizing consumers into five distinct segments.
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On the Hill/Around the Nation

08.06.12
Senate Committee Approves TSCA Reform on Party-Line Vote
Expressing frustration over the slow progress made in bipartisan negotiations over the best way to modernize the Toxic Substances Control Act of 1976 (TSCA) and acknowledging the limited opportunities for action this year, the Senate Environment and Public Works Committee on July 25 approved the Safe Chemicals Act by a party-line vote of 10-8. The bill, which expands the U.S. Environmental Protection Agency’s authority to regulate and restrict the use of chemicals, is a modified version of similar legislation (S 847) originally introduced by Senator Frank Lautenberg (D-NJ) in 2011. Committee passage sets the stage for further discussions and negotiations, most of which will occur in the 113th Congress. It is unlikely the bill will receive a vote in the full Senate this year, and to date, no House companion legislation has been offered. NEMA supports a U.S. chemical regulatory and management system that is based on credible, scientific information, is risk-based, provides reasonable timeframes for compliance, and federally preempts state regulations/laws that are more stringent than TSCA or in conflict with its provisions.
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International News

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08.02.12
U.S.-ASEAN Smart Grid Workshop: Partnering for Regional Power Cooperation
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NEMAvoice

Industry News

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  Autotalks and Altis Semiconductor announced that they have reached a cooperative agreement on the development of Autotalks’ PLUTON automotive grade vehicle-to-vehicle RF transceiver, to be manufactured by Altis Semiconductor. 08/02/12
  
  
  
• 3M Partners with Digital Wish to Help Bring Tablets into the Classroom
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[ Industry News Archives ]

NEMA News

• NEMA CEO Appointed to Serve on the Federal Advisory Committee on Supply Chain Competitiveness
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• NEMA Mexico Trade Show and Workshop
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• NEMA Board of Governors 2013 Strategic Initiatives
  There is a growing consensus that any successful strategy to address the public debt and economic growth will include major tax reform that eliminates current tax credits and deductions in order to lower rates (similar to 1986). 07/23/12

Standardizations Trends

• NEMA LSD 27: Best Practices for Operating Fluorescent Lighting Systems
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[ NEMA News Archives ]

Global Intelligence

• EBCI: Business Conditions Deteriorated in July, But Improvement Expected in Second Half of the Year
  The same downdraft afflicting the broad economy appears to be spilling into the electrical manufacturing sector as the industry pulls back from its earlier rebound. NEMA’s Electroindustry Business Confidence Index (EBCI) for current North American conditions fell to 38.6 in July from 52.4 in June. 07/25/12

Market Comments by Tom Robinson Tom Robinson, Ph.D., President Oppenheimer Asset Management, shares his take on the economy in a weekly column Market Comments, which is republished here each Monday. His column provides a quick summary of key economic data releases from the previous week as well as insight about likely developments in financial markets. read more...

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