Regional Briefs
Good Signs For Manufactured Goods
New orders in December for manufactured goods rose $10.1 billion, or 2.3 percent, from November, to $441.6 billion, according to numbers from the U.S. Census Bureau.
The numbers represent the highest level since the series was first stated in 1992. New orders have increased in six of the last seven months.
Orders for manufactured durable goods rose 5 percent, while new orders for nondurable manufactured goods decreased 0.4 percent.
Shipments for both durable and nondurable goods decreased for the month, down 0.2 and 0.4 percent, respectively, according to the Census Bureau.
For Love And Money
It is widely known that love is blind, but lack of foresight when it comes to financial compatibility could leave many lovers broke this Valentine's Day, according to the cupids at the Massachusetts Society of Certified Public Accountants.
In an effort to help fiscally responsible lovers determine their compatibility outside of the bedroom and in the wallet, the MSCPA is offering an online quiz for couples to determine their financial friendliness.
Some questions asked include such pressing issues of hiding purchases from your spouse or significant other, how children are taught about financial responsibility and how decisions are made regarding a major household purchase.
Business Confidence Dwindles In Jan.
The Associated Industries of Massachusetts' Business Confidence Index nearly dropped into overall negativity in January, indicating that the state may be on "the edge of recession."
While the overall confidence level was still barely positive, above 50 on the 100-point scale, Massachusetts employers rated current business conditions negatively. Employers said conditions in the state were slightly worse than those prevailing nationally.
AIM was most concerned about the 3.5-point loss of the Current Index, which dropped to 49.6, below 50 for the first time since October 2003. Also, the Future Index, assessing conditions six months ahead, lost two points to 51.8, still technically positive, but its lowest reading since May 2003.
One For You, 19 For Me
The state Department of Revenue reported that tax collections for January came in at $2.2 billion, $148 million more than January 2007.
The 7.2 percent increase, and total tax collections $87 million more than the January monthly benchmark, were due to greater than anticipated income tax payments, which totaled $1.65 billion in January, the department said. So far in 2008, tax collections total $11.3 billion, an increase of $515 million or 4.8 percent over the same period a year ago.
ISM: Biz Activity Contracted In January
The Arizona-based Institute for Supply Management's non-manufacturing index fell to 41.9 in January, the lowest it's been since October 2001.
The ISM non-manufacturing index accounts for all but about 10 percent of the economy, and was 54.4 in December. A reading above 50 signifies growth and a reading below 50 signifies contraction.
Internet Advertising Up 27 Percent
U.S. advertisers are following consumers to the Internet, spending $25.5 billion on online ads in 2007, a 27 percent increase over 2006, according to a new study by Framingham market research company IDC.
Internet ad spending in the fourth quarter of 2007 totaled $7.3 billion, a 28 percent bump over the same quarter in 2006, IDC found.
Google, the largest Internet advertising company in terms of market share, commanded 23.7 percent of the market in the fourth quarter of 2007, a 0.5 percent decline in market share compared to the third quarter of 2007. It was the first time in two years Google's market share declined, according to IDC. Nevertheless, the California-based company's Internet ad sales still grew by more than 40 percent in the fourth quarter.
NJ Pharma Co. To Pay Mass. $323,000
New Jersey pharmaceutical company Aventis Pharmaceuticals Inc. has agreed to pay the state and the Massachusetts Medicaid Program more than $323,000 to resolve claims of improper price reporting and marketing practices, according to state Attorney General Martha Coakley.
The payment to Massachusetts is part of a national settlement involving 38 states that has netted a refund of $22.7 million to state and federal medicaid programs, Coakley's office said.
The national investigation centered around Aventis' inflated and fraudulent Medicaid reimbursement levels for its prescription oncology medication Anzemet. In addition to the cash refund, Aventis has also agreed to the terms of a Corporate Integrity Agreement, which will subject the company to strict scrutiny of its marketing practices.
Mass. Health Care Reform Is Working. Mostly.
Increased enrollment in state health care plans has had the desired effect of reducing demand for free care services in Massachusetts, according to a new study by the Massachusetts Hospital Association.
The report found that MassHealth and Commonwealth Care enrollment has increased 28 percent since the signing of health care reform legislation and the creation of the state Health Connector Authority. The number of free care visits has decreased by the same 28 percent.
The MHA report focused on a three-year window from October 2004 to October 2007.
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