Regulations and Compliance

Many federal and state government regulations affect the marine industry. Trade Only follows developments as companies strive to operate in compliance with the rules.

Obama issues national ocean policy

Recreational boating is highlighted in a final report on ocean management, which was used as the basis for the Obama administration’s establishment of a National Policy for the Stewardship of the Oceans, Coasts and Great Lakes. President Barack Obama signed an executive order Monday establishing the policy, which adopts the final recommendations of the Interagency…more

Louisiana law adds dealer inventory requirement

Louisiana Act 1043 was signed into law last week, requiring that Louisiana marine dealers who cancel contracts with manufacturers prove due cause before being eligible to have inventory repurchased by manufacturers, the National Marine Manufacturers Association reports. The law goes into effect Jan. 1, 2011. According to the legislation, due cause can be established if…more

Fed: Economic recovery is slowing

The Federal Reserve Wednesday acknowledged a slowing of the U.S. economic recovery as it renewed its vow to hold benchmark interest rates exceptionally low for an extended period. In a statement at the end of a two-day meeting, the Fed scaled back its assessment of the pace of recovery, taking note of pockets of weakness,…more

Senate bill would extend SBA lending program

An amendment to the Small Business Lending Fund Act of 2010, offered by Sen. Mary Landrieu, D-La., outlines a number of NMMA-supported changes to the Small Business Administration’s Dealer Floor Plan Program, including raising loan caps from $2 million to $5 million, ensuring a 100 percent advance rate and extending the program to 2013, the…more

Unemployment drops slightly to 9.5 percent

The unemployment rate edged down to 9.5 percent, the U.S. Bureau of Labor Statistics reported today. That’s down slightly, from 9.7 percent in May. The decline in payroll employment reflected a decrease of 225,000 in the number of temporary employees working on Census 2010. Private-sector payroll employment edged up by 83,000. However, these figures do…more

Jobless claims dip moderately

The weekly Labor Department report on unemployment insurance claims showed the number of workers filing new applications for unemployment insurance fell less than expected last week, while the trade deficit widened slightly in April. In the week ending June 5, the advance figure for seasonally adjusted initial claims was 456,000, a decrease of 3,000 from…more

Employment report is a mixed bag

The Labor Department employment report released today reveals payrolls rose 431,000, but the bulk of those gains came as the government hired 411,000 workers to conduct U.S. Census jobs that will end after the summer. Overall, it was the largest monthly increase since March 2000 and marked a fifth straight month of gains. The unemployment…more

Jobs report shows improving labor market

Data released today reveal the number of workers filing new claims for jobless benefits fell last week, while private employers added jobs in May, further evidence the labor market is improving. The news comes ahead of the government’s closely watched employment report due on Friday, which is expected to show non-farm payrolls increased by 513,000…more

Unemployment now at 9.9 percent

The unemployment rate inched up to 9.9 percent in April, though 290,000 jobs were created, the U.S. Bureau of Labor Statistics reported today. The unemployment rate had stood at 9.7 percent for the first three months of the year. Job gains occurred in manufacturing, professional and business services, health care, and leisure and hospitality. Federal…more

Experts say finance reform legislation could hurt dealers

Finance reform bills approved for debate by the Senate and poised to go before the House could mean bad news for boat dealers if passed in their original form, according to marine lending experts. As the bills were written, banks providing loans across state lines would have to follow laws in each state instead of…more

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