Unit labor costs dropped by a seasonally-adjusted 0.8% during the third quarter, per the Labor Department, a surprise decline as economists had predicted a 0.7% increase. In addition, productivity rose 4.7%, the largest quarterly rise since the same period in 2020.

Winsupply announced the acquisition of Texas-based PVF distributor Milford Cos., expanding the Ohio industrial supplies distributor's waterworks portfolio. Milford, which supplies materials and rental equipment, includes five locations in Texas, Oklahoma and New Mexico. Milford CEO Shawn Beard will continue to be involved in leadership and board positions, while Chief Operating Officer Chase Brown will become president.

The New York Federal Reserve's Multivariate Core Trend inflation reading for October was 2.6%, down from September's 2.88%, indicating a possible easing of inflationary pressures, according to a report released on Monday by the Federal Reserve Bank of New York. This latest data comes as signs point to Federal Reserve officials holding rates steady at their current level of between 5.25% and 5.55%.

Distributors outlining their sales growth strategy should evaluate the motivation, knowledge base and selling skills of the sales team and choose which area is mandatory and create a development plan that supports the team in developing the other two skills, writes Doug Wyatt, vice president of sales and marketing for SPARXiQ. Distributors that use this approach "achieve quicker ramp-up times, higher ceilings for performance, and a path to more consistent market share growth," Wyatt writes.

A nearly zero-emission cargo ship, the Yara Eyde, is set to launch in 2026 and promises to mark a step change in the push to reduce CO2 emissions in maritime transport. Fertilizer manufacturer Yara International and its partners in the venture intend to power the yet-to-be-built vessel with clean ammonia, and the company said it should generate 95% less CO2 emissions than the average fossil fuel-powered vessel.

Several large less-than-truckload carriers and real estate investors bid nearly $1.9 billion collectively to purchase 75% of Yellow's truck terminals at a court-supervised auction, with bids requiring court approval prior to a completed sale. Yellow filed for bankruptcy last summer, marking the most significant trucking collapse in the US.

AI has been integrated into tech stacks by 65% of consumer marketers and 51% are using the technology often, primarily for personalization (32%), followed by automating routine tasks (25%), content development (22%) and data analysis (19%), per SOCi. However, most marketers are concerned that consumers will negatively perceive the brand if they reveal their use of AI.

A rebound in corporate profits is underscoring the belief that the US will avoid a major economic downturn as inflation normalizes. S&P 500 companies' earnings per share increased 7.1% year over year in the third quarter, according to London Stock Exchange Group, and analysts expect earnings growth of 5.2% in Q4.

As the use of AI evolves, so should industry standards, perhaps with a certification process, writes Russ Kennedy, Nasuni's chief product officer. Kennedy also sees the other side: "The other regulatory danger, from an enterprise perspective, is that we end up creating AI monopolies because legislative encumbrance is too prohibitive for smaller players to flourish."

Experience three days of excellent networking opportunities, cutting-edge content, and educational programming for leaders in the wholesale-distribution industry at NAW's Executive Summit Jan. 30 - Feb. 1. Hear from world-class speakers and explore issues critical to the industry. Be prepared for what's next and learn new strategies to get there first. View agenda and registration information here.

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