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.

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

Florida yacht tax cap gains another ally

Legislation to cap Florida’s sales tax on yachts at $18,000 is working its way through the legislature. The legislation is touted as a means to boost the boatbuilding business and cut into the state’s 12.2 percent unemployment rate. Having passed the House and up for possible debate in the Senate, the legislation prompted a meeting…more

CBO tabs health care bill at $940 billion

House leaders plan to unveil the final health care bill later today – an overhaul the Congressional Budget Office says will cost $940 billion over a decade, according to media reports. Democrats said they are on track for a Sunday vote on the bill, The Wall Street Journal reports. People close to the situation said…more

Senators ask SBA to extend floorplan program

Two U.S. senators have sent a letter to the Small Business Administration encouraging the agency to extend the dealer floorplan pilot program from one year to three years, the National Marine Manufacturers Association reports. The letter, sent by Sen. Mary Landrieu, D-La., and Sen. Olympia Snowe, R-Maine, also asks the SBA to increase its outreach…more

Obama’s coastal zoning proposal raises concerns

The Obama Administration has proposed using expanding zoning to coastal and even some inland waters, which has raised concerns among fishermen that their favorite fishing holes could soon be off limits. Many weekend anglers fear that the Obama administration’s promise to “fundamentally change” water management in the U.S. will erode what they call the public’s…more

Unemployment remains at 9.7 percent

The unemployment rate held at 9.7 percent in February, the U.S. Bureau of Labor Statistics reported today. Employment fell in construction and information, while temporary help services added jobs. In February, the number of unemployed persons stood at 14.9 million, which was essentially unchanged from January. The number of long-term unemployed (those jobless for 27…more

South Florida marine industry meets with SBA official

The Small Business Administration is traveling the country meeting with frustrated business owners and South Florida’s boating industry vented its concerns in the latest stop in Miami. Esther Vassar, national ombudsman and assistant administrator for regulatory enforcement fairness, heard from many small-business owners in the Sunshine State who are concerned about tight credit markets, red…more

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