Weekly Planner Auto Sales Reports Likely To Confirm Thriving Market
Fast Facts On The Shelf Business Week, Aug. 1: Aluminum Company of America CEO Paul O’Neill is on a crusade to pursuade automakers to build aluminum vehicles, says Business Week. Fortune, Aug. 8: Eagle Hardware & Garden is the second-fastest growing company in the nation, according to Fortune’s annual rankings. FAST TRACK America’s fastest-growing companies, as ranked by Fortune. Annual revenue growth rate in parenthesis. 1. Grow Biz International: 285 percent 2. Eagle Hardware & Garden: 258 percent 3. Columbia/HCA Healthcare: 240 percent 4. Discovery Zone: 229 percent 5. Castle Energy: 215 percent
Fresh off reports of a record $4.5 billion profit last quarter, the nation’s automakers this week likely will celebrate more good news when they release sales figures for July.
Car buyers have been snatching up many models faster than the factories can build them and analysts believe July sales numbers will be positive.
However, the heightened demand for new cars could mean higher prices in the future. Steel producers and other suppliers of raw materials already have begun to seek price hikes.
The Big Three automakers earned a total of $4.5 billion during April, May and June $1 billion more than the industry’s previous best quarter in the winter of 1989. Analysts estimate that the automakers will sell 15.3 million vehicles in 1994.
The boom could provide hourly workers at General Motors their first profit sharing payments since 1990.
However, the second-quarter profits may be the best for this year.
In other events this week:
Today: The National Association of Purchasing Management releases its monthly report on the manufacturing sector.
Department of Commerce reports personal income for June.
Commerce Department reports construction spending for June.
Department of Treasury reports quarterly financing requirements.
Tuesday: MacWorld Expo opens in Boston, running through Friday.
Commerce Department reports on new home sales for June.
House Banking Committee resumes Whitewater hearings.
Wednesday: Commerce Department issues leading economic indicators for June.
Commerce Department reports factory orders for June.
Federal Reserve issues its Beige Book report on regional economic conditions.
Treasury Department issues its quarterly refunding announcement.
Automakers announce their sales figures for July.
Thursday: An ISO 9000 seminar will be held from 8 a.m. to noon at the Applied Technology Center, N3939 Freya St. in Spokane. The seminar, which costs $50 per person, will provide an overview of the ISO 9000, an international quality standard for business that has been accepted by 45 countries. The seminar is one of a series sponsored by the Community Colleges of Spokane.
The nation’s largest retailers announce their sales figures for July.
A breakfast meeting on improving diversity in the work place begins at 7:30 a.m. at Cavanaugh’s Inn at the Park. The meeting is sponsored by IDS Financial Services and the Spokane Human Rights Commission and Spokane Diversity Action Council.
Friday: Labor Department releases unemployment figures for July.
Federal Reserve issues consumer credit report for June.
Sunday: American Hospital Association kicks off annual convention in Dallas
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