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.

Analyst: Republican wins are good for boating industry

A new report from Wells Fargo Securities says a series of wins for Republicans in Tuesday’s elections could be good news for the boating industry. The report, which looks at the midterm elections and their impact on various sectors, said it appears that Republicans will take back the House and gain seats in the Senate.…more

Unemployment rate still at 9.6 percent

The unemployment rate was unchanged at 9.6 percent as 95,000 jobs were lost in September, the U.S. Labor Department’s Bureau of Labor Statistics reported today. Government employment declined by 159,000 jobs, reflecting a drop in temporary census jobs and job losses in local government. The private sector gained 64,000 jobs. The number of unemployed people,…more

More dealers will become eligible for SBA loans

The Small Business Administration announced that it will permanently increase the size standards for boat, personal watercraft and RV dealers to $30 million, effective Nov. 5, the National Marine Manufacturers Association reports. Size standards are used to determine eligibility for federal small-business assistance programs for private-sector industries. This announcement means that more dealers will qualify…more

Industry groups hopeful about small-business bill

Industry groups are applauding Thursday’s passage in Congress of HR 5297, the Small Business Jobs and Credit Act of 2010. The legislation will extend the Small Business Administration’s Dealer Floor Plan Program for marine and other product dealers to 2013 from its current expiration date later this month. The bill also raises loan caps from…more

Obama names Asian carp czar

The Obama administration this week named John Goss as the so-called Asian carp czar. The White House announcement comes as Michigan and four other states try to persuade a federal court to grant a temporary injunction to close the Illinois shipping locks to keep the invasive Asian carp out of Lake Michigan. State officials say…more

Unemployment up to 9.6 percent in August

The unemployment rate increased to 9.6 percent in August, up from 9.5 percent in July, the U.S. Bureau of Labor Statistics reported today. The report says the private sector added 67,000 jobs last month while government employment fell as 114,000 temporary workers hired for the census completed their work. From May through August, the jobless…more

Northeast fishermen protest Obama’s policies

Taking advantage of President Obama’s family vacation on Martha’s Vineyard, commercial fishermen staged a protest against federal fishing policy with a flotilla of commercial fishing boats in Vineyard Haven Harbor. Twenty-five boats from Massachusetts, Rhode Island and New York joined a half-dozen recreational fishing boats for the midday demonstration Thursday against new federal fishing restrictions…more

Unemployment still at 9.5 percent

The unemployment rate for July remained unchanged at 9.5 percent, the U.S. Bureau of Labor Statistics reported today. The number of unemployed stands at 14.6 million. In July, the number of long-term unemployed (those jobless for 27 weeks or longer) was little changed at 6.6 million. Those people made up 44.9 percent of the unemployed.…more

Small-business loan fund bill delayed until September

The Senate on Thursday shelved a plan to create a $30 billion loan fund for cash-strapped small businesses, delaying final passage of the legislation until September at the earliest. Although Senate leaders in both parties were still working toward a compromise late Thursday, Senate Majority Leader Harry Reid, D-Nev., said the Senate will not return…more

Senate to take up SBA floorplan amendment

The Senate today is considering an National Marine Manufacturers Association-supported substitute amendment to H.R. 5297, the Small Business Jobs Act of 2010. The proposal, amendment No. 4519, would extend the Small Business Administration Dealer Floorplan Financing Program to three years, increase SBA loan caps for dealer floorplan financing to $5 million, eliminate SBA fees and…more

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