PR Newswire (04/11/13)

The Caldwell Partners International Inc. reported revenue of C$6.8 million for the second quarter of fiscal 2013, down 5% from C$7.2 million during the same period in 2012. U.S. revenues totaled C$4.5 million during the period, down 7% from C$4.8 million a year ago. The company’s year-to-date revenue of C$14.2 million is down 2% from the same period in 2012.

Wall Street Journal (04/11/13) Phil Izzo

Although there are signs the economy is slowing in the second quarter, 49 economists surveyed by the Wall Street Journal say the economy will improve as the year unfolds. “Once again, the U.S. economy is losing steam as winter turns into spring, with payroll employment, household employment, jobless claims, and [manufacturing and service indexes] all below expectations,” says Jan Hatzius of Goldman Sachs. The lackluster conclusion of the first quarter led economists to mark down their expectations for second-quarter growth in gross domestic product to 1.8%. The economists on average estimated that GDP expanded 3.1% in the first quarter at a seasonally adjusted annual rate.

Still, consumers have been resilient, and the housing market is doing well. The economists forecast that growth will improve in the second half of the year, to 2.5%, the quickest pace in eight years. “The bottom line for households is that stronger finances should enable them to spend at a modestly faster rate this year relative to last year,” says Joseph LaVorgna of Deutsche Bank. “We believe it is premature to say the labor market is undergoing another swoon, because it ignores important—and positive—developments that have taken place over the past few years.”

National Law Review (04/11/13)

The White House on April 10 signaled its intention to push the National Labor Relations Board back to its full five-person membership. President Obama will propose the renomination of current board chairman Mark Gaston Pearce along with management attorney Harry I. Johnston III, a partner with Arent Fox in Los Angeles, and Chicago attorney Philip A. Miscimarra, from Morgan Lewis & Bockius LLP.

Previously submitted nominations for current board members Richard F. Griffin Jr. and Sharon Block, both of whom were recess appointments, are still pending with the Senate. The D.C. Circuit recently determined that the recess appointments of Griffin and Block, as well as former member Terence Flynn, were unconstitutional. That issue is headed to the U.S. Supreme Court for a decision.