Retail trade Zone study
MD Logistics provides foreign trade zone services to consumer electronics manufacturer Audiovox
BACKGROUND Printer Friendly (PDF File)
Audiovox is a leading global supplier of mobile and consumer electronics products. MD Logistics has partnered with Audiovox since 2007, when a newly acquired product line prompted the company to seek third party logistics (3PL) services. MD Logistics now handles Audiovox’s retail compliance and manages the company’s inventory, order processing and distribution.
CHALLENGE
A majority of Audiovox products originate overseas and therefore require numerous customs filings as well as costly annual duty and brokerage fees. When exported goods require drawbacks, the cumbersome process could take up to nine months.
MD Logistics and Audiovox realized that a Foreign Trade Zone (FTZ) would streamline the 250, 000 to 300, 000 cartons of Audiovox product that MD Logistics handles every month. An FTZ allows goods to be imported and warehoused duty-free until they are consumed or re-exported, and also allows for duty-free transferring to other FTZs in the United States, Canada and Mexico. By expanding its FTZ distribution network to the Midwest, Audiovox could realize a significant cost savings and increase the ease by which their goods flow to market.
WHY MD LOGISTICS WAS THE SOLUTION
MD Logistics embraced the chance to provide enhanced services to Audiovox and other customers and immediately reached out to the local FTZ Authority.
Becoming an FTZ grantee would be a complex process, requiring start-up and operating costs as well as regulatory and administrative requirements. MD Logistics retained a well-respected expert to ensure the project was accurately completed under a strict timeline.
MD Logistics navigated the application process to become a general-purpose zone operator. Formal applications had to be submitted in Washington, D.C., bonds needed to be put in place and site inspections by U.S. Customs and Border Patrol had to be passed.
Everything went according to plan. Upon approval, MD Logistics entered into a contract with the Indianapolis Airport Authority as an FTZ grantee.
Source: www.mdlogistics.com
scriUnemployment rose in May
The unemployment rate rose from 5.0 to 5.5 percent in May, and nonfarm
payroll employment continued to trend down (-49,000), the Bureau of Labor
Statistics of the U.S. Department of Labor reported today. In May, employ-
ment continued to fall in construction, manufacturing, retail trade, and
temporary help services, while health care continued to add jobs. Average
hourly earnings rose by 5 cents, or 0.3 percent, over the month.
The only sector that saw a rise in employment was Health Care, which means we are getting poorer AND sicker.
They should take this further:
...
Three researchers at the University of California, Irvine Greg Linden, Kenneth L. Kraemer and Jason Dedrick applied some investigative cost accounting to this question, using a report from Portelligent Inc. that examined all the parts that went into the iPod.
Their study, sponsored by the Sloan Foundation, offers a fascinating illustration of the complexity of the global economy, and how difficult it is to understand that complexity by using only conventional trade statistics.
...
The researchers estimated that $163 of the iPods $299 retail value in the United States was captured by American companies and workers, breaking it down to $75 for distribution and retail costs, $80 to Apple, and $8 to various domestic component makers
Money market fund assets fall to $2.639 trillion — Anchorage Daily News
Assets in the nation's retail money market mutual funds rose $1.91 billion to $934.25 billion, the Washington-based mutual fund trade group said Thursday. Assets of taxable money market funds in the retail category rose $1.3 billion to $739.03 billion.
US service sector picks up in August — Mizo News
The NMI survey covers all sectors outside of manufacturing. A reading above ..
CORRECTED-Central banks, SWFs make up less than 1 pct of FX trade -BIS — Reuters
New data in the 2013 survey also showed 16 percent of dealers' global FX transactions were conducted by a prime brokerage.
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Aug 15, 2007 by murphy7019 | Posted in Other - Business & Finance
International customers in India, Brazil and Columbia would like me to start shipping them my products, but from what I've heard the customs tariffs are rediculously high in these countries, up to 70% in one of them (Brazil)... is there a way to keep my and my customers' costs down?
In this post, I suggest 4 different ways of getting the job done, all of them sleasy ... you decide which bunch of people you least want to offend.
The bottom line is, there is no honest way to do what you …r Hawaii. Better not try it in Venezuela (they ready for this) and wait until USA not so tied up in Iraq, since the strategic military reserve is depleted. There's also nations where they are too big for this to be done.
Apr 07, 2013 by Freely | Posted in China
By SHANGHAI (Reuters)
Two more people have contracted bird flu in Shanghai, China's health ministry said on Saturday, as authorities closed live poultry markets and culled birds to combat a new virus strain …lure potential foreign clients and to promote his peanut business on here.
EDIT
@ Thanks to Dog Lover's answer. DL sounds more rational in her answers lately. After living in a free and liberal city?
No one really knows, specialists studying the virus are puzzled why it has appeared in a rich area first rather than popping up in a poor area first.
It simply could be down to the randomness of evolution an …inted out birds from local bird markets were tested +ve for the virus.
Note: no foreigner could had bought it into China as WHO and Chinese flu experts say there is no evidence of human to human transmission