Business Inventories Up 0.3 Percent In June

From MSNMoney.com:

Inventories held by businesses rose for a sixth straight month in June but sales declined for a second month in a row.

Inventories increased 0.3 percent in June, the Commerce Department reported Friday. But sales fell 0.6 percent following an even larger 1.2 percent sales decline in May.

The weakness in sales raises concerns about whether companies will continue boosting inventories. Inventory rebuilding had been an important source of strength driving the economic rebound.

Businesses had been rebuilding their inventories in recent months after slashing them aggressively during the recession. But if consumer demand weakens further, businesses could start cutting back. That would mean fewer orders to U.S. factories and weaker output for manufacturers.

The consecutive declines in sales in May and June followed 13 straight increases in total business sales. The June decrease reflected less demand for manufacturers, wholesalers and retailers. A separate report Friday showed that sales at the retail level rebounded in July but the strength was concentrated in higher demand for autos and gasoline.

In America, Old Glory represents more than just patriotism

Happy Flag Day! That’s right; today we honor our American flag. According to an article on the LA Times.com, “we are a nation that is hungry for the consistency and comfort of national symbols to show our “nationhood.” Therefore, we already use the flag, or its stars and stripes on everything—obsessively adorning everything from our clothes to NBA backboards.

Italian historian Arnaldo Testi, author of the recently published "Capture the Flag: The Stars and Stripes in American History," said it was during the Civil war that "the national flag established itself as a central pervasive icon of Northern public life" and earned the nickname "Old Glory." Actually, it was the massive immigration at the end of the 19th century that gave us the Pledge of Allegiance and the first celebrations of Flag Day, in the packed immigrant cities of New York, Philadelphia and Chicago. Mostly they were trying to win the hearts and minds of the immigrant children with rituals such as these.

How do you feel about celebrating the American flag? Do you feel this day should be better acknowledged? Send me a message on Twitter at www.twitter.com/ronideutch or on Facebook at www.facebook.com/ronideutch.

Read the full article here.