Afternoon Coffee: Sears Seeks Supply Chain Fixes, New NAFTA Vote Awaits New Year

With Sears filing for Chapter 11 bankruptcy Monday and its suppliers seeking payments, the department store giant has plans to shore up its supply chain, The Wall Street Journal reported. “Sears told a bankruptcy court the unraveling supply chain has undercut its cash flow and its attempts to stock inventory at a critical period,” the Journal said.

New NAFTA To Get Vote Next Year

Republican Sen. Mitch McConnell, the Senate majority leader, said Tuesday that a vote to replace NAFTA won’t be held until next year, after the midterm elections next month, Bloomberg reported. It’s not clear what the election means for the deal if the House or Senate lose their Republican majorities. The new USMCA deal, the U.S.-Mexico-Canada Agreement, still needs the approval of all the nation’s legislatures.

Hurricane Michael Disrupts Deliveries

In Florida, delivery issues rose 117% from the week before Hurricane Michael ripped into the Panhandle, Supply Chain Dive reported. The Category 4 hit the Panhandle last week, and it affected deliveries in nearby states and had a national logistics impact too, the Dive reported. “Delivery exceptions nationwide increased 20% week over week, while the number of shipments increased by just 2%,” it said.

Federal Deficit Rises After Tax Cut

And finally, an economic update: The U.S. budget deficit rose 17% for fiscal 2018 — the highest level in six years, CNBC reported. Spending climbed, and revenue barely increased after GOP tax cuts earlier this year, CNBC reported.

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