The U.S. Commerce Department said today that inventories at U.S. businesses fell in September to the lowest level in almost four years, signaling that orders will rise in coming months as spending picks up, Bloomberg reported. The 0.4 percent decrease in stockpiles was smaller than anticipated and brought the value of goods on hand down to $1.3 trillion, the lowest level since November 2005, according to the Commerce Department report. Companies depleted inventories at a record rate in the first half of the year, laying the groundwork for economic growth in the second half as consumers and businesses started spending again. Lean stockpiles at manufacturers such as automakers and growing exports will spur a factory rebound that will propel the economic expansion into next year. Factory inventories fell 1 percent and wholesale stockpiles dropped 0.9 percent. Total business inventories shrank at a $130.8 billion annual rate in the third quarter after falling at a record $160.2 billion annual pace in previous three months.

The East Village store that is soon to be formerly known as SMASH will host “The Name Change Party” Friday during the East Village Holiday Promenade. Owner Mike Draper was forced to find a new name for the clothing, screen printing and design shop after running afoul a California company that was using the name when he opened in 2005. Registration for the new name has been approved, new designs are in production, new window displays have been ordered and promotional materials have been printed.

U.S. credit card companies said today that defaults fell more than expected in October, but delinquencies rose in a sign that consumers remain under stress and the sector can expect more pain ahead, Reuters reported. The drop in defaults reflects a decline in late payments earlier this year as a result of tax refunds and economic stimulus actions. Delinquencies, an indicator of future credit losses, rose across the board as more Americans lost their jobs. Capital One Financial Corp. and JPMorgan Chase & Co. reported the biggest increases in late payments. Credit card charge-offs and delinquencies usually track unemployment, which rose to a 26-year high of 10.2 percent in October. Bank of America Corp., the largest U.S. bank, said in a regulatory filing that its charge-off rate — loans the company does not expect to be repaid — fell to 13.22 percent in October from 14.25 percent in September. JPMorgan, the largest issuer of Visa-branded credit cards, said its charge-off rate declined to 8.02 percent from 8.12 percent, while Capital One’s fell to 9.04 percent from 9.77 percent. Discover Financial Services said its charge-off rate declined to 8.54 percent from 8.69 percent.

The U.S. Small Business Administration (SBA) will recognize the eight businesses that participated in its Emerging 200 Initiative at a graduation ceremony Friday in Des Moines. This is the second consecutive year that Des Moines was selected to participate in the SBA’s Emerging 200 Initiative (e200). The goal of e200 was to identify 200 inner-city businesses across the country that showed a high potential for growth and to provide them the network, resources and motivation required to build a sustainable business within a designated inner-city geographic location. The eight graduating businesses and their respective representatives who will be honored are Natalie Battles and Assure Health Link, Carl Lingen and Employer Ease, Tanya Keith and Simply for Giggles, Peter Tarpey and Tarpey Media LLC, Douglas Downs and DS Contract Service Inc., Catherine Saub and Lexicon Consulting Inc., Todd Garner and Substance Architecture, and Sara Middleton and The Grand Piano Bistro. Click here for a related Business Record story.