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Houston Economic Update, July 2009

David McAndrew — Wed, 05 Aug 2009 16:00:00 GMT

Houston Economic Update, July 2009

Fundamentals are improving for the Houston economy, which seems to be responding to better news. The U.S. recession is apparently drawing to a close, with a wide range of measures pointing to a turnaround in the fall. Oil prices and a variety of other commodity prices have moved up in recent weeks, reacting to massive stimulus purchases out of China and to the approaching U.S. recovery. The U.S. rig count has turned up, chemicals exports have soared for some commodities and local employment was stable in June. The turn in the U.S. economy looks real, but the question for Houston’s near-term economic performance is whether the commodity markets have turned too early. Will Chinese stockpiling today mean weaker demand tomorrow as recovery sets in?

Retail and Auto Sales
Retailers in Houston pointed to a turn for the worse in late June and early July, as sales figures fell well short of their plans. Discounters did the best, but conditions worsened steadily as profit margins increased, with high-end department stores and specialty stores faring the worst. Some respondents felt the Texas heat wave played a role in keeping shoppers at home.

Houston remains an active participant in the ongoing auto bust of 2008–09, with local sales down 40 percent over the first half of 2009 and down nearly 50 percent from last June. For this diminished number of purchases, lower gasoline prices have moved shoppers back to a preference for SUVs and trucks.

Housing and Real Estate
In another sign that Houston is following the national economy’s lead, the local housing markets is responding to lower mortgage rates and first-time buyer incentives. Sales of existing single-family homes are down 15 percent from a year ago (improved from a decline of 23 percent in January), and the median price has ticked up steadily all year as more expensive homes have begun to sell again. New-home sales and permits, in contrast, are still down sharply (both near 40 percent on a 12-month basis) and have yet to turn up. The median sales price has been steady for the last year.

All commercial real estate sectors continue to feel the grip of recession and tight credit conditions. Retail, industrial, office and apartment occupancy is down, as a combination of new construction and reduced demand takes a toll. Office and industrial rents are under the greatest pressure.

Oil Markets and Refining
Light sweet crude spent most of June near $70 per barrel, only to fall back to $60 in early July. The rise to $70 seemed to defy market fundamentals of weak demand and high inventories. Domestic demand for oil products remains weak—gasoline demand is down only 1.4 percent from a year ago, but both distillates and jet fuel are down 15 percent.

Refiners operated at a steady 86 to 87 percent of capacity utilization. Weak demand for oil products made it difficult for refineries to pass through the higher price of crude oil. Profit margins remained at the weak levels of recent months and at only half the level of a year ago. On-highway gasoline prices rose about 10 cents per gallon in June but fell back in July.

Oil Services and Machinery
The total number of rigs working in the U.S. appeared to stabilize in June and rose by about 50 rigs in late June and July. The pattern was seen in both Texas and New Mexico, though not Louisiana. The improvement was driven by rising oil prices. Natural gas prices remained relatively weak, and producers took the opportunity to switch from gas- to oil-directed projects and to expand the number of wells drilled. The oil-directed activity was described as opportunistic, with no pattern in terms of geography or technology. Natural gas-directed activity continued to fall. The excess capacity in the industry remains so large (with activity down by over half from the peak) that a small and possibly transitory pickup in activity was not felt in sales or pricing.

Healthy natural gas markets are needed for a sustained U.S. recovery in drilling, and the outlook for natural gas is so bearish that neither $70 oil nor a serious heat wave in the Middle West and South did much to improve its price. Inventories are expected to be at record levels before fall. The price moved briefly over $4 per thousand cubic feet in June but was again below $3.50 by early July. Production is about 3 percent higher than it was last year, and demand remains weak.

Petrochemicals
The prices of a variety of chemicals are rising. Ethylene and polyethylene prices are up on increased export demand, and styrene and polypropylene prices have been driven by rising energy prices. PVC is up because of rising ethylene and chlorine costs. Export demand is quite strong due to cost advantages based on the price of natural gas versus oil, with help from strong Asian demand driven by China’s stimulus package. The open question is whether the Chinese stockpiling of commodities at low prices just means less demand as recovery begins in earnest. Domestic demand is generally weak, with products like polyethylene and caustic soda reporting modest month-to-month increases.

5-Aug-09 11:00 AM

Texas Equipment Leasing Market Looks Favorable for 2005

Jerry Harris — Mon, 22 Nov 2004 23:00:00 GMT

As economy recovers, demand for all products will increase. Leasing provides the end users the ability to obtain the equipment they need to expand as their customer demand grows. Harris Leasing Company has terms to fit the cash flow requirements of expanding companies in the Texas market.

22-Nov-04 5:00 PM

HARRIS LEASING COMPANY AND BEVENCO TEAM UP TO OFFER TEXAS SMALL BUSINESS OWNERS EASY ACCESS TO EQUIPMENT LEASING OPTIONS

noemail@harrisleasing.com — Thu, 05 May 2005 17:00:00 GMT

Houston, 5-May-05/ Harris Leasing Company and Bevenco of Houston Texas have renewed a long standing referral business relationship so they can serve the Texas business community more effectively. Harris Leasing is a direct funding source that has been providing its equipment leasing services to start up businesses, newly established companies, second tier credits and foreign companies in Texas since 1969. Harris Leasing’s motto, “If you can use it, we can lease it”tm now takes on a broader meaning as it comes together with Bevenco. This premier Texas lease company has been providing lease and financing agreements to established companies since 1983 and has remained a leading equipment leasing and financing company in the state of Texas and around the country. The two companies’ knowledge and understanding of the industry has earned them a well-known and respected reputation among their ever-expanding portfolio of satisfied customers. Together Harris Leasing Company and Bevenco are providing Texas business owners of any size a one stop shop for all their equipment leasing and financing needs.

Home

Thu, 28 Jan 2010 21:35:25 GMT

The Best Texas Business Equipment Leasing Company Harris Leasing Company, a Houston business equipment leasing company, has been providing business equipment, construction equipment, office furniture leasing and medical equipment leasing and financing to its Texas customers and dealers since 1969. We offer flexible business leasing terms from 12 months to 60 months and dollar amounts from $1000.00 to $250,000.00. We can put together a business leasing program to fit your company's needs even if you are just starting out in a NEW SMALL BUSINESS or have had some credit problems in the past. Construction Equipment Leasing At Harris Leasing Company we take a great deal of pride in the fact that we are a Texas business equipment leasing company helping other Texas businesses achieve their goals and succeed. Although we do fund large transactions, our primary target is $2,000.00 to $25,000.00. We are willing to consider new small companies needing business equipment or...

About Us

Fri, 28 Aug 2009 17:10:31 GMT

The smaller, smarter leasing company serving Texas. With Harris Leasing Company, you get real, live people taking care of your business. We'd like to take care of you, too. Contact us at 1-800-783-7820 or at info harrisleasing History In May 1969 Jerry Harris formed Harris Leasing Company to be a third party lessor of office equipment and office furniture. At that time the leasing industry was in its infancy so the concept was new. Both the end users and the merchants who sold products that were able to be placed on lease had to be educated. The merchants liked leasing because it offered them an alternative to funding the payout over time from their own pocket. The customers liked leasing because it offered them the opportunity to acquire what they needed in the quantity they needed it without using up their cash reserves or lines of credit and the possibility of a faster tax write off. In the early years as well as now the funding industry did not and does not easily...

Bussiness Leasing

Fri, 28 Aug 2009 16:57:39 GMT

Why use leasing to purchase your equipment or furniture?
Because it works!

It would be nice if there was a magical formula that tells you when to lease, buy or rent, but it is not that simple. Every business has different needs and budgets that vary over time. In 2003 $200 billion worth of business equipment was financed through leasing by U.S. corporations making it the largest source of capital for business equipment acquisitions.

Nearly 80% of companies lease some of their assets. Does that make leasing right for your company? Not necessarily, but there are many compelling reasons to consider leasing your next equipment acquisition.

Business leasing provides income from use, not ownership of equipment.
Business leasing allows assets to be deployed into things that appreciate.
Business leasing maintains current cash reserves for future or unexpected needs.

Many companies buy their computer, telephone, furniture, and other essential equipment and lease their buildings. It should be the other way around. Buildings generally appreciate, and equipment and furniture do not.

Online Applications

Tue, 04 Aug 2009 16:28:15 GMT

Online Applications

Online Business Leasing Application -(Available soon)

Business Leasing Application (Print And Fax)

Print and Fax Dealer Profile

Adobe Acrobat Reader is required to view the print-ready versions of the lease applications. To download a free copy of the Acrobat Reader software, click on the image below.

Computer Leasing

Wed, 18 Jun 2008 21:28:09 GMT

Business Computer Leasing: Harris Leasing Company offers flexible equipment lease terms and equipment finance agreements that make sense in the world of business. We can offer you programs for both new and established companies that allow you to take advantage of tax incentives and utilize your cash flow to its fullest advantage. The acquisition of computer equipment is a major decision and not taken lightly. Why use your valuable credit lines? We can provide you the terms and a program that will suit your needs and budget requirements. Harris Leasing Company has equipment leasing/financing in amounts from $1,000.00 to the $1,000,000.00 plus, with a sweet spot of $5,000.00 to 25.000.00 with terms from 12 months to 60 months and flexible schedules for both new and established companies. Some examples of computer equipment that can be leased: File Servers Hardware Macro computers Mainframes CAD/CAM systems Workstations Microcomputers PC network Peripherals...

Heavy Equipment Leasing

Thu, 12 Jun 2008 21:53:00 GMT

Heavy Equipment Leasing:

Harris Leasing Company offers flexible equipment lease terms and equipment finance agreements that make sense in the heavy equipment industry. We can offer you programs that allow you to take advantage of tax incentives and utilize your cash flow to its fullest advantage.

The acquisition of heavy equipment is a major decision and not taken lightly. Why use your valuable credit lines? We can provide you the terms and a program that will suit your needs and budget requirements.

Harris Leasing Company has equipment leasing/financing in amounts from $5,000.00 to the $1,000,000.00 plus, with a sweet spot of $150.000.00 to 350.000.00 with terms from 12 months to 72 months and flexible schedules for both new and used.

Some examples of equipment available for leasing:

• Excavators • Wheeled Excavators • Dozers • Graders • Wheel Loaders

• Compactors • Backhoes • Off Road Trucks • Backhoe Loaders

• Bulldozers • Crawler Dozers • Shovels • Graders • Excavators

• Crushers • Skid Steer Loaders, And much, much, much more…

Contact us for details about our heavy equipment leasing programs. Call toll-free 1-800-783-7820 or in Houston 713-783-7820

What Houston Radio Station do you listen to?

noemail@harrisleasing.com — Thu, 20 Sep 2007 21:30:00 GMT

Objectives:

This survey will help use be more accurate in our marketing and help us grow our customer base and in return let us serve you, our valued customer's.

Our Objective is to find out how we can reach new customer like your self thru radio.

Thank you for all your support and we look forward to

servicing your leasing needs.

Release Date: 20-Sep-07 4:30 PM
Expiration Date: 20-Dec-07 11:45 PM
Please take a moment to let us know witch Houston radio station you listen to most of the time,

ECI- 50 Phone System

Thu, 11 Mar 2010 03:45:27 GMT

File uploaded by David McAndrew. ECI- 50 Phone System, ESI-50 Communications Server, 48-Key Feature Phone

ECI- 50 Phone System

Thu, 11 Mar 2010 03:45:27 GMT

File uploaded by David McAndrew. ECI- 50 Phone System, ESI-50 Communications Server, 48-Key Feature Phone

ECI- 50 Phone System

Thu, 11 Mar 2010 03:45:27 GMT

File uploaded by David McAndrew. ECI- 50 Phone System, ESI-50 Communications Server, 48-Key Feature Phone

La-Z-Boy Black Leather Finesse Love Seat Dark Cherry

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La-Z-Boy Black Leather Finesse Lounge Chair Dark Cherry

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La-Z-Boy End Table Fruition Dark Cherry

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DSC_0151

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DSC_0150

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Global #3217 Granada High Back Multi Function Task Chairs, Black Cloth

Thu, 11 Mar 2010 03:45:27 GMT

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Global #3217 Granada High Back Multi Function Task Chairs, Black Cloth

Thu, 11 Mar 2010 03:45:27 GMT

File uploaded by David McAndrew. 26- Granada High Back Multi Function Task Chairs, Black Cloth Global #3217 $99.00 ea.