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November 29, 2006Federal Reserve Districts
Eleventh District--Dallas Skip to contentSummary
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In October and the first half of November, the Eleventh District economy continued to decelerate from high levels. While there remains strength in the manufacturing, construction, finance and service sectors, there are also areas of softness. Many industries reported increased caution about the outlook. Energy activity was strong overall, but there was still little change in the rig count. Retail sales were weaker than expected. Manufacturing activity remained strong to supply the energy industry but continued to report slowing sales to residential building. Service sector activity was also mixed, with a dip in demand for temporary workers. Nonresidential building is strong, but home sales and home building weakened further. Financial service firms reported softer consumer lending, but credit quality is healthy and commercial lending is good. Agricultural conditions improved over the past six weeks.

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Manufacturing
Manufacturing activity continued to cool. Demand remained strong for refining, some chemicals, and for products to supply commercial construction and oil and gas drilling. However, sales to homebuilders slowed further, pushing up inventories for some products and causing some firms to reduce production. Food producers report an increase in demand. Sales of paper products increased slightly, but demand for corrugated boxes softened some. High-tech manufacturers reported generally good growth in production and orders, although there were a few firms that reported some recent softening in orders.

Shipping firms report good demand but anticipate slower growth in coming months. Cargo volumes remained flat and continued to be buoyed by domestic demand for nondurable goods. Container trade activity rose sharply, with growth partly coming from an increase in steel imports. Railroads indicated no change in overall volumes but noted that shipments of lumber, wood and other building products were down substantially over the past month. Trucking firms said demand softened further which, according to contacts, helped ease the shortage of truck drivers in the industry. Airlines report continued good demand overall.

Retail Sales
Retail sales growth has been weaker than expected. Some contacts had expected a greater pick up in sales following the drop in gasoline prices. Sales continue to be weakest to lower income customers who were more affected by high energy costs. Sales were weakest for home items, particularly for furniture. Respondents have become more cautious about the outlook for holiday sales, which they say will be very competitive. Inventories are in good shape, although retailers say they are watching them closely.

Financial Services
Consumer lending continued to slow for all types of products, including mortgages, credit cards, personal and auto loans. Credit quality is still good, and mortgage delinquencies do not appear to be a problem for District lenders. Commercial lending is very good, although contacts expect activity to slow. Competition for experienced and talented lenders continues to be intense.

Agriculture
Recent rains boosted cattle grazing conditions, and many producers are optimistic they will get a good cutting of hay before the first freeze. Still, supplemental feeding of herds continues in the driest regions, and rapidly rising feed costs--particularly for corn--have substantially lowered calf prices. Rain has helped wheat and oat crops get off to a good start, but were too late for cotton, pecan, peanut, soybean and sorghum. Harvest of these crops is underway, and yields are better than expected but below last year's levels.



Cleaning and disinfecting. The employer shall provide each respirator user with a respirator that is clean, sanitary, and in good working order. The employer shall ensure that respirators are cleaned and disinfected using the procedures in appendix B-2 of this section, or procedures recommended by the respirator manufacturer, provided that such procedures are of equivalent effectiveness. The respirators shall be cleaned and disinfected at the following intervals:

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At the height of the Cold War, a Soviet response was necessary to avoid the possibility of a new American fighter gaining a serious technological advantage over existing Soviet fighters. Thus the development of a new air superiority fighter became a priority.[2] In 1969, the Soviet General Staff issued a requirement for a Perspektivnyy Frontovoy Istrebitel (PFI, roughly "Advanced Frontline Fighter").[5] Specifications were extremely ambitious, calling for long range, good short-field performance (including the ability to use austere runways), excellent agility, Mach 2+ speed, and heavy armament. The Russian aerodynamics institute TsAGI worked in collaboration with the Sukhoi design bureau on the aircraft's aerodynamics.[5]

While the MiG-29's true capabilities could only be estimated from the time it first appeared In 1977 until the mid-1980s, a combination of persistent intelligence and increasing access afforded by the Soviet foreign sales effort allowed a true appreciation of its capabilities. Early MiG-29s were very agile aircraft, capable of rivaling the performance of contemporary F-18 and F-16 aircraft. However, their relatively low fuel capacity relegated them to short-range air defense missions. Lacking HOTAS and an inter-aircraft data link, and requiring a very intensive "heads-down" approach to operating cockpit controls, the early MiG-29 denied pilots the kind of situational awareness routinely enjoyed by pilots operating comparable US aircraft. Analysts and Western pilots who flew examples of the MiG-29 thought this likely prevented even very good pilots from harnessing the plane's full combat capability. Later MiG-29s were upgraded to improve their capabilities.[23]The Soviet Union exported MiG-29s to several countries. Because 4th-generation fighter jets require the pilots to have extensive training, air-defense infrastructure, and constant maintenance and upgrades, MiG-29s have had mixed operational history with different air forces.[24]

The MiG-29's good operational record prompted India to sign a deal with Russia in 2005 and 2006 to upgrade all of its MiG-29s for US$888 million. Under the deal, the Indian MiGs were modified to be capable of deploying the R-77/RVV-AE (AA-12 'Adder') air-to-air missile. The missiles had been successfully tested in October 1998 and were integrated into the IAF's MiG-29s. The IAF has also awarded the MiG Corporation another US$900 million contract to upgrade all of its 69 operational MiG-29s. These upgrades will include a new avionics kit, with the N019 radar being replaced by a Phazotron Zhuk-M radar. The aircraft is also being equipped to enhance beyond-visual-range combat ability and for air-to-air refuelling to increase endurance.[75] In 2007, Russia also gave India's Hindustan Aeronautics Limited (HAL) a licence to manufacture 120 RD-33 series 3 turbofan engines for the upgrade.[76] The upgrade will also include a new weapon control system, improved cockpit ergonomics, air-to-air missiles, high-accuracy air-to-ground missiles and guided bombs. The first six MiG-29s will be upgraded in Russia while the remaining 63 MiGs will be upgraded at the HAL facility in India. India also awarded a multi-million-dollar contract to Israel Aircraft Industries to provide avionics and subsystems for the upgrade.[77]

11. Resolved. that a national Judiciary be established to consist of One Supreme Tribunal. The Judges of which to be appointed by the second Branch of the National Legislature. to hold their offices during good behaviour to receive, punctually, at stated times, a fixed compensation for their services: in which no encrease or diminution shall be made so as to affect the persons actually in office at the time of such encrease or diminution.

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