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Content about Macroeconomics

September 13, 2010
TRSA Report: Textile Industry Revenues Outpace GDP Again

ALEXANDRIA, Va. — Typical members of the Textile Rental Services Association (TRSA) continued in 2009 their year-after-year streak of outperforming the economy, the association’s 2010 Industry Performance Report indicates.

Compared with the nation’s real GDP decline of 2.6%, a company with a classic TRSA business profile (dominated by linen and healthcare work) lost only 1.8% in revenue, TRSA reports. And profits increased—from 4.8% of sales to 5.9%.

August 3, 2010
TRSA Seeks Rental Textile Deductions

ALEXANDRIA, Va. — TRSA is continuing to seek Congressional support for the industry’s effort to convince the Internal Revenue Service (IRS) that it should adhere to its 2008 plan to maintain rules governing deductibility of rental textile items. The agency seeks to disallow such deductions unless rental laundry companies account for the life cycles of individual items. That would create an onerous, if not impossible, inventory-tracking challenge for the industry, TRSA says.

January 14, 2009
Position Yourself Now to Thrive When Economy Rebounds

There are storm clouds on the economic horizon. The experts have finally decided that this is not an economic slowdown, but a recession. Many of us in the laundry business could have told them that months ago.

The drycleaning side of our industry has been hit dramatically, as customers have decided to save their money once spent on drycleaning for other, more important items. Many marginal operations have simply gone out of business.

July 28, 2008
Federal Minimum Wage Jumps to $6.55

WASHINGTON — Now that the second of three planned increases in the federal minimum wage has passed (as of July 24), all U.S. businesses are required to raise eligible employee wages to $6.55 and display the proper labor law notice at each business location. To be compliant, all businesses with at least one employee must display the new regulation, regardless of whether employees are hourly, salaried or compensated at more than the minimum wage.

June 25, 2007
Ready for the New Minimum Wage?

WASHINGTON, D.C. — President George Bush signed the federal minimum wage proposal into law on May 25. The federal minimum wage will eventually increase to $7.25. If you’re unsure about your responsibilities as an employer, you can receive some help.

November 16, 2006
Survey: Support for Increasing Minimum Wage Varies

CHICAGO — When laundry managers and administrators were asked if their home states should pass an increase in the minimum wage, the result was a tie – 50% yes, 50% no, according to our latest Wire survey.

Responses were received from at least 16 states. (Voters in Ohio, Arizona, Missouri, Montana, Colorado and Nevada approved ballot measures last week to raise their state's minimum wage.)

November 2, 2006
Six States to Weigh Minimum-Wage Increases on Tuesday

CHICAGO — Voters in six states - Arizona, Colorado, Missouri, Montana, Nevada and Ohio - will vote on ballot initiatives on Tuesday that would raise the minimum wage from $1 to $1.70 per hour above their current levels.

If the increases are approved, these states will join eight others that recently raised their minimums - including Pennsylvania, which voted this summer to boost the state's minimum wage by $2 to $7.15 beginning next year.