Walker takes reins as CEO of MHEDA
Jeannette Walker is the new chief executive officer of the Material Handling Equipment Distributors Association (MHEDA). She served as interim chief executive officer when Liz Richards retired on December 31, 2023. “Jeannette is the ideal selection given her vast background in executive leadership, marketing and communications, all the traits that are essential in association management.” said Liz Richards. “Combined with Jeannette’s knowledge and deep relationships with industry members and with the MHEDA team, this is a win-win-win for everyone.” added Richards. Walker has held executive positions in the materials handling sector for 22 years, most recently at TVH. “I am truly honored to have been selected for this pivotal role, and I am eager to contribute my skills and experience to MHEDA,” she said. ““I am committed to building upon the foundation that has been laid by Liz Richards’ inspirational vision and leadership.”” added Walker.
Staffing employment seasonally dips in December
Staffing employment dipped in the week of Dec. 11-17, with the ASA Staffing Index decreasing by 0.9% to a rounded value of 97. Some staffing companies mentioned seasonal business fluctuations and the holidays as primary factors that limited further growth. Staffing jobs were 8.3% below the same week last year. New starts in the 50th week of the year were down 2.5% from the prior week. Nearly four in 10 staffing companies (35%) reported gains in new assignments week to week. The ASA Staffing Index four-week moving average decreased from the prior week to a rounded value of 97, and temporary and contract staffing employment for the four weeks ending Dec. 17 was 8.3% lower than the same period in 2022. “The ASA Staffing Index saw a slight drop in December, though some holiday frostbite is typical for staffing employment this time of year,” said Noah Yosif, chief economist at ASA. This week will be used in the December monthly employment situation report scheduled to be issued by the U.S. Bureau of Labor Statistics on Jan. 5. To learn more about the quarterly ASA Staffing Employment and Sales Survey, visit americanstaffing.net/quarterly-survey or follow ASA research on X.
New Distribution and Supply Chain Planned Industrial Project Drops for November 2023 to Below June Levels
Industrial SalesLeads announced the November 2023 results for the new planned capital project spending report for the Distribution and Supply Chain industry. The Firm tracks North American planned industrial capital project activity; including facility expansions, new plant construction and significant equipment modernization projects. Research confirms 175 new projects in the Distribution and Supply Chain sector as compared to 210 in October. The following are selected highlights on new Distribution Center and Warehouse construction news. Distribution and Supply Chain – By Project Type Distribution/Fulfillment Centers – 19 New Projects Industrial Warehouse – 158 New Projects Distribution and Supply Chain- By Project Scope/Activity New Construction – 88 New Projects Expansion – 30 New Projects Renovations/Equipment Upgrades – 51 New Projects Closing – 8 New Projects Distribution and Supply Chain – By Project Location (Top 5 States) Texas – 16 California – 13 Florida – 13 Illinois – 10 Pennsylvania – 9 Largest Planned Project During the month of November, our research team identified 1 new Distribution and Supply Chain facility construction project with an estimated value of $100 million or more. The largest project is owned by Nucor Corporation, who is planning to invest $280 million for the expansion and equipment upgrades on their manufacturing and warehouse facility in TUSCALOOSA, AL. They have recently received approval for the project. Completion is slated for Summer 2027. Top 10 Tracked Distribution and Supply Chain Project Opportunities VIRGINIA: Specialty metal processing company is planning to invest $82 million for the expansion of their processing and warehouse facility in SOUTH BOSTON, VA. They have recently received approval for the project. ILLINOIS: Eyewear MFR. is planning to invest $80 million for the construction of a 150,000 sf manufacturing, warehouse, laboratory, and office facility on Allen Lane in PEORIA, IL. They have recently received approval for the project. Completion is slated for late 2025. SOUTH CAROLINA: Corrugated packaging products MFR. is planning to invest $68 million for the renovation and equipment upgrades on a 259,000 SF manufacturing and warehouse facility at 1105 Scotts Bridge Rd. in ANDERSON, SC. They have recently received approval for the project. VIRGINIA: Logistics service provider is planning to invest $60 million for the expansion of their distribution and warehouse center in NORFOLK, VA by 450,000 SF. They have recently received approval for the project. CALIFORNIA: Airport authority is planning to invest $40 million for the construction of a 521,000 SF warehouse and office facility at 1497 S Commerce Pw in ONTARIO, CA. They are currently seeking approval for the project. TENNESSEE: Logistics service provider is planning to invest $38 million for the construction of an 85,000 SF warehouse facility in KNOXVILLE, TN. They are currently seeking approval for the project. NEW YORK: Automotive MFR. is planning to invest $30 million for the construction of a distribution center in FISHKILL, NY. They will relocate their MANSFIELD, MA operations upon completion in 2025. WISCONSIN: Construction equipment MFR. is planning to invest $30 million for the renovation and equipment upgrades on their manufacturing facility in MENOMONEE FALLS, WI. The project includes the construction of a 100,000 SF warehouse at the site. They are currently seeking approval for the project. ARIZONA: OEM parts supplier is planning for the renovation and equipment upgrades on a 420,000 SF distribution center in GLENDALE, AZ. Completion is slated for late 2024. GEORGIA: Auto parts supplier is planning for the construction of a 205,000 SF warehouse at 3351 Gateway Centre Pkwy in GAINESVILLE, GA. They are currently seeking approval for the project. About Industrial SalesLeads, Inc. Since 1959, Industrial SalesLeads, based in Jacksonville, FL is a leader in delivering industrial capital project intelligence and prospecting services for sales and marketing teams to ensure a predictable and scalable pipeline
Industrial News and Planned Industrial Construction Projects for November 2023 Recap
Research by Industrial SalesLeads’ experienced industrial market research team, shows 423 new planned industrial projects tracked during the month of November. Manufacturing and Production increased 4.3% as well as Industrial Warehouse by just about 3%. Overall, planned industrial project activity increased 1% from the previous month. The following are selected highlights on new industrial construction news and project opportunities throughout North America. Planned Industrial Construction – By Project Type: Manufacturing Facilities – 163 New Projects Processing Facilities – 94 New Projects Distribution and Industrial Warehouse – 175 New Projects Power/Energy/Oil and Gas – 8 New Projects Laboratory Facilities – 15 New Projects Mine – 1 New Project Terminal – 0 New Projects Pipeline – 0 New Projects Planned Industrial Construction – By Scope/Activity New Construction – 177 New Projects Expansion – 106 New Projects Renovations/Equipment Upgrades – 151 New Projects Plant Closing – 23 New Projects Planned Industrial Construction – By Location (Top 10 States) Texas – 29 California – 27 New York- 23 Indiana – 21 Ohio – 21 Michigan – 17 Wisconsin – 17 Florida – 16 Illinois – 16 North Carolina – 16 Largest Planned Industrial Construction Project During the month of November, our research team identified 26 new General Industrial facility construction projects with an estimated value of $100 million or more. The largest project is owned by Dow Chemical Canada, who is planning to invest $10 billion for the construction of a processing facility in FORT SASKATCHEWAN, AB. They are currently seeking approval for the project. Construction is expected to start in 2024, with completion slated for 2029. Top 10 Tracked Industrial Construction Projects NORTH CAROLINA: Automotive MFR. is planning to invest an additional $8 billion for the expansion of their currently under-construction EV battery manufacturing facility in LIBERTY, NC. Completion is slated for 2025. TEXAS: Global electronics MFR. is planning to invest $8 billion for the construction of an additional 2.7 million manufacturing facility in TAYLOR, TX. They are currently seeking approval for the project. Construction is expected to start in late 2024. ALBERTA: Oil and gas company is planning to invest $2 billion for the construction of a processing facility in STRATHCONA COUNTY, AB. They are currently seeking approval for the project. BRITISH COLUMBIA: Battery MFR. is planning to invest $1 billion for the construction of a manufacturing facility in MAPLE RIDGE, BC. Construction is expected to start in Summer 2024, with completion slated for 2028. LOUISIANA: Chemical company is planning to invest $800 million for the construction of two processing facilities in ST. GABRIEL, LA. They are currently seeking approval for the project. Construction is expected to start in 2025, with completion slated for 2026. ALBERTA: Specialty fiber board MFR. is planning to invest $800 million for the construction of a manufacturing facility in STETTLER, AB. They are currently seeking approval for the project. NORTH CAROLINA: Battery material MFR. is planning to invest $650 million for the construction of a 1.5 million SF manufacturing campus in WILMINGTON, NC. They have recently received approval for the project. Construction is expected to start in 2024, with completion slated for 2026. SOUTH CAROLINA: Automotive component MFR. is planning to invest $500 million for the expansion and equipment upgrades on their manufacturing and warehouse facility at 2846 N. Old Laurens Rd. in GRAY COURT, SC. They have recently received approval for the project. CALIFORNIA: Aerospace company is planning to invest $500 million for the renovation and equipment upgrades on their manufacturing and research facilities in LONG BEACH, CA, and MOJAVE, CA. They are currently seeking approval for the project. ALABAMA: Steel company is planning to invest $280 million for the expansion and equipment upgrades on their manufacturing and warehouse facility in TUSCALOOSA, AL. They have recently received approval for the project. Completion is slated for Summer 2027. About Industrial SalesLeads, Inc. Since 1959, Industrial SalesLeads, based in Jacksonville, FL is a leader in delivering industrial capital project intelligence and prospecting services for sales and marketing teams to ensure a predictable and scalable pipeline.
61 New Food and Beverage Industry Planned Projects for November 2023 Holds Firm with October
Industrial SalesLeads announced the November 2023 results for the new planned capital project spending report for the Food and Beverage industry. The Firm tracks North American planned industrial capital project activity; including facility expansions, new plant construction and significant equipment modernization projects. Research confirms 61 new projects in the Food and Beverage sector for both November and October. The following are selected highlights on new Food and Beverage industry construction news. Food and Beverage Project Type Processing Facilities – 33 New Projects Distribution and Industrial Warehouse – 34 New Projects Food and Beverage Project Scope/Activity New Construction – 27 New Projects Expansion – 25 New Projects Renovations/Equipment Upgrades – 17 New Projects Plant Closing – 1 New Project Food and Beverage Project Location (Top 10 States) California – 8 New York – 5 Texas – 4 Illinois – 3 Tennessee – 3 Kentucky – 2 Michigan – 2 Minnesota – 2 North Carolina – 2 South Carolina – 2 Largest Planned Project During the month of November, our research team identified 1 new Food and Beverage facility construction projects with an estimated value of $100 million or more. The largest project is owned by Nissin Foods USA, who is planning to invest $228 million for the renovation and equipment upgrades on a recently acquired 641,000 sf processing and warehouse facility at 1170 Bracken Rd. in PIEDMONT, SC. Completion is slated for late 2025. Top 10 Tracked Food and Beverage Projects TEXAS: Grocery chain is planning to invest $60 million for the expansion and equipment upgrades on their processing and warehouse facility at 4710 N. Interstate 35 in SAN ANTONIO, TX. Construction is expected to start in early 2024, with completion slated for Summer 2025. WISCONSIN: Dairy company is planning for the construction of a 311,000 SF of distribution, cold storage, and office facility on County Line Rd. in FRANKLIN, WI. They are currently seeking approval for the project. CALIFORNIA: Specialty nut oil producer is planning for the expansion of their processing, warehouse, storage, and office facility in DENAIR, CA by 62,000 SF. They are currently seeking approval for the project. Construction is expected to start in Summer 2025. GEORGIA: Vending equipment MFR. is planning to invest $20 million for the renovation and equipment upgrades on a manufacturing, training, warehouse, and office facility in SAVANNAH, GA. They are currently seeking approval for the project. They will relocate their operations upon completion. NEVADA: Food packaging service provider is planning to invest $13 million for the renovation and equipment upgrades on a processing facility in NORTH LAS VEGAS, NV. They are currently seeking approval for the project. MINNESOTA: Food processing company is planning to invest $7 million for the renovation and equipment upgrades on a 360,000 SF processing, warehouse, and office facility in CANNON FALLS, MN. They have recently received approval for the project. They will consolidate their operations upon completion. TEXAS: Specialty food products MFR. is planning to invest $4 million for the renovation and equipment upgrades on 122,000 sf of warehouse and office space at 31895 US Hwy. 90 in BROOKSHIRE, TX. They will relocate their operations upon completion in early Fall 2024. PENNSYLVANIA: Fresh produce company is planning for the expansion of their warehouse and office facility in ALLENTOWN, PA by 49,000 SF. They have recently received approval for the project. MASSACHUSETTS: Animal feed MFR. is planning for the construction of a 21,000 SF processing facility at 233 Old Webster Rd. in OXFORD, MA. They are currently seeking approval for the project. CALIFORNIA: Winery is planning for the construction of an 18,000 SF production facility in ST. HELENA, CA. They are currently seeking approval for the project. About Industrial SalesLeads, Inc. Since 1959, Industrial SalesLeads, based in Jacksonville, FL is a leader in delivering industrial capital project intelligence and prospecting services for sales and marketing teams to ensure a predictable and scalable pipeline. Our Industrial Market Intelligence, IMI identifies timely insights on companies planning significant capital investments such as new construction, expansion, relocation, equipment modernization and plant closings in industrial facilities.
Staffing employment edges down in third quarter
Staffing jobs dropped 1.7% from second quarter The number of temporary and contract workers employed by U.S. staffing companies eased 1.7% to an average of 2.4 million workers per week from the second to the third quarter of 2023, according to the American Staffing Association’s Staffing Employment and Sales Survey released today by ASA. The decline reflects the overall slowdown in the pace of job creation during much of the past year among employers of all sizes in the face of volatile macroeconomic and geopolitical conditions and forecasts. Amid that cooling job market, temporary and contract staffing sales also declined by 3.5% during the same period. On a year-over-year basis, staffing jobs declined 14.1% in the third quarter of 2023, while temporary and contract staffing sales decreased 14.5% to total $34.7 billion in the third quarter of 2023. “As always, the staffing, recruiting, and talent solutions industry pivots quickly to assist employers with their variable and changing needs for flexible and permanent staff. In contrast to the furious pace of hiring in late 2021 and much of 2022, employers are now settling into a new normal of slow and steady growth,” said Richard Wahlquist, ASA chief executive officer. “But with 1.3 openings per worker, labor markets remain tight and employers continue to struggle with recruiting workers with the most in-demand skill sets—something we expect to continue for the foreseeable future.” Private company survey respondents are cautiously optimistic about the new year, with median expected year-over-year first quarter 2024 growth of 3.1% compared to the first quarter of 2023. Respondents expect to close 2023 with lower sales than in 2022, with a median expected decline of 5.3%. To learn more about the quarterly ASA Staffing Employment and Sales Survey, visit americanstaffing.net/quarterly-survey or follow ASA research on X.
A steady six months of moderate growth continues with 161 new Industrial Manufacturing Planned Projects for November 2023
Industrial SalesLeads has announced the November 2023 results for the new planned capital project spending report for the Industrial Manufacturing industry. The Firm tracks North American planned industrial capital project activity; including facility expansions, new plant construction and significant equipment modernization projects. Research confirms 161 new projects in the Industrial Manufacturing sector in November, the same number of projects was for October 2023. The following are selected highlights on new Industrial Manufacturing industry construction news. Industrial Manufacturing – By Project Type Manufacturing/Production Facilities – 144 New Projects Distribution and Industrial Warehouse – 87 New Projects Industrial Manufacturing – By Project Scope/Activity New Construction – 52 New Projects Expansion – 51 New Projects Renovations/Equipment Upgrades – 68 New Projects Plant Closings – 11 New Projects Industrial Manufacturing – By Project Location (Top 10 States) Indiana – 13 New York – 10 Ohio – 10 Wisconsin – 10 North Carolina – 9 Georgia – 8 Michigan – 8 Texas – 7 Alabama – 6 California – 6 Largest Planned Project During the month of November, our research team identified 14 new Industrial Manufacturing facility construction projects with an estimated value of $100 million or more. The largest project is owned by Samsung Electronics America Inc., who is planning to invest $8 billion for the construction of an additional 2.7 million manufacturing facility in TAYLOR, TX. They are currently seeking approval for the project. Construction is expected to start in late 2024. Top 10 Tracked Industrial Manufacturing Projects NORTH CAROLINA: Automotive MFR. is planning to invest an additional $8 billion for the expansion of their currently under-construction EV battery manufacturing facility in LIBERTY, NC. Completion is slated for 2025. BRITISH COLUMBIA: Battery MFR. is planning to invest $1 billion for the construction of a manufacturing facility in MAPLE RIDGE, BC. Construction is expected to start in Summer 2024, with completion slated for 2028. ALBERTA: Specialty fiber board MFR. is planning to invest $800 million for the construction of a manufacturing facility in STETTLER, AB. They are currently seeking approval for the project. SOUTH CAROLINA: Automotive component MFR. is planning to invest $500 million for the expansion and equipment upgrades on their manufacturing and warehouse facility at 2846 N. Old Laurens Rd. in GRAY COURT, SC. They have recently received approval for the project. CALIFORNIA: Aerospace company is planning to invest $500 million for the renovation and equipment upgrades on their manufacturing and research facilities in LONG BEACH, CA, and MOJAVE, CA. They are currently seeking approval for the project. ALABAMA: Steel company is planning to invest $280 million for the expansion and equipment upgrades on their manufacturing and warehouse facility in TUSCALOOSA, AL. They have recently received approval for the project. Completion is slated for Summer 2027. NORTH CAROLINA: Printing and packaging company is planning to invest $233 million for the construction of a manufacturing facility in LINWOOD, NC. They are currently seeking approval for the project. Completion is slated for 2026. VIRGINIA: Aerospace and defense technology company is planning to invest $200 million for the construction of a 315,000 sf manufacturing facility on Shenandoah Village Dr. in WAYNESBORO, VA. They have recently received approval for the project. Completion is slated for Summer 2025. CALIFORNIA: Semiconductor MFR. is planning to invest $180 million for the expansion of their manufacturing facilities in SAN JOSE, CA, and SUNNYVALE, CA. They are currently seeking approval for the project. GEORGIA: Automotive component MFR. is planning to invest $176 million for the construction of a manufacturing facility in DUBLIN, GA. They have recently received approval for the project. Completion is slated for late 2025. About IMI SalesLeads, Inc. Since 1959, IMI SalesLeads, based in Jacksonville, FL is a leader in delivering industrial capital project intelligence and prospecting services for sales and marketing teams to ensure a predictable and scalable pipeline. Our Industrial Market Intelligence, IMI identifies timely insights on companies planning significant capital investments such as new construction, expansion, relocation, equipment modernization and plant closings in industrial facilities. The Outsourced Prospecting Services, an extension to your sales team, is designed to drive growth with qualified meetings and appointments for your internal sales team. Visit us at salesleadsinc.com.
Prepare for the New Year with some old ideas
I’d like to look at the table of contents from a great book on selling skills… Chapter 1…Begin by Talking to Him: Learn Your Customer’s Hobbies Personal Likes and Dislikes. Base Your Approach on These Then Show Goods. Chapter 2…Use More Ear and Less Tongue: Give Your Customer the Center of the Stage. The Main Thing Is not to Talk but to Sell. Chapter 3…Put Service before Samples: Study Your Customer’s Problems and Needs. Try to Help Him to Move His Goods. Chapter 4…Mention Quality before Price: You Must Know Your Goods Through and Through. Art of Dramatizing a Sale. Chapter 5…Don’t Take No for a Final Answer: Difference Between Making and Taking a Sale. Some Examples of Real Salesmanship. Chapter 6…Get Down to the Brass Tacks Quickly: Watch for a Chance to Talk. Details of Delivery. Techniques of Making a Sale. Chapter 7…Build Goodwill for Your Firm: Sell Your Company as Well As Your Odds. How to Earn a Promotion. Chapter 8…Constantly Search for New Markets: Make Several Missionary Calls Every Week. Don’t Become a Jog Trotter Chapter 9…Classify Your Time: How to Value the Different Hours of The Day. The Best Time to Make a Sale. Chapter 10…Keep Mentally and Physically Fit: Vaccinate Yourself Against Worries. Your Job Is Not a Routine One. It Is All Creative Work. Chapter 11…Have a Stout Heart: Be a Bit of a Philosopher. Buck Up to Your Customers. A Tip to Wives and Sales Managers. Chapter 12…Create Welcomes for Yourself: Turn Your Customers Into Friends. Keep Your Selling on a Personal Basis. Pretty timely information I’m sure you’ll agree. A book you’ll want to run out and purchase. The title of this book is “Tips for Traveling Salesman” by Herbert Casson and it was written in 1927. WOW! It’s great information that’s been rewritten 50 different ways since then. Why? To get salespeople to act. You see salespeople already know everything, the problem is, they don’t do it. Here’s a couple of examples of knowing everything and not doing it: You know you should prepare for every sales call by doing research on the company and the person you’re meeting with before you make the call. Do you? You know you should listen to sales podcasts/books an hour a day in your car. But do you? But hey, I’m sure you’re different. You always take the right actions, don’t you? You always implement the right sales strategy, don’t you? You always know what to do in every selling situation don’t you? You’re constantly improving your professional and personal skills, aren’t you? When the prospect doesn’t buy it’s always his fault not yours, isn’t it? It must be because in 42 years of training salespeople, I’ve never had someone come up to me and say, “Jeffrey, I didn’t make the sale, and it was all my fault.” Salespeople always have someone else to blame for their shortcomings. There’s a big difference in knowing something and doing something. It’s the difference between mediocrity and success. The self-discipline to use your knowledge must be employed daily with the self-discipline of patience. The change in your sales skills won’t come overnight but I promise if you put your knowledge into action every day and stick with it over time you will win. And win big. Make the New Year’s resolution to gain one new idea or skill each day and put it into practice as soon as you learn it. Gain the patience and the self-discipline to implement this wisdom: You don’t get great at sales in a day, you get great at sales day by day. Happy New Year! About the Author: Jeffrey Gitomer is the author of twelve best-selling books including The Sales Bible, The Little Red Book of Selling, and The Little Gold Book of Yes! Attitude. His real-world ideas and content are also available as online courses at www.GitomerLearningAcademy.com. For information about training and seminars visit www.Gitomer.com or email Jeffrey at salesman@gitomer.com or call him at 704 333-1112.
Episode 446: Transforming river waste into a sustainable pallet with green current solutions
You don’t want to miss this feel-good episode featuring Chad Pregracke, CEO of Green Current Solutions. With a unique background in river cleanup, Pregracke brings a fresh perspective to sustainable practices in logistics, focusing on creating eco-friendly pallet solutions that balance environmental responsibility with supply chain efficiency. A Mission for Clean Rivers Pregracke’s dedication to cleaning America’s rivers, particularly the Mississippi, has evolved from his unique teenage experiences of shell diving into a large-scale environmental mission. His journey from firsthand witnessing the river’s pollution to spearheading cleanup efforts demonstrates his deep connection to these waterways. Over the years, his initiative has achieved remarkable milestones: Conducted over 1,400 river cleanups nationwide. Collaborated with over 124,000 volunteers. Successfully removed more than 14 million pounds of garbage from rivers. Pregracke’s efforts extend beyond cleaning; he’s also educating and inspiring others through initiatives like his new classroom barge, further spreading awareness and engagement in river conservation. The Journey from River Cleanup to Sustainable Pallet Production Pregracke shares his journey from river cleanup crusader to innovator in the logistics sector. His passion for cleaning America’s rivers, planting trees, and finding new uses for the waste led to the creation of sustainable pallets. “Plastics are a huge problem, and most of what we’re pulling out. We use the barges as a floating recycling center. We sorted everything out, but nobody would take all the big bulky rigid plastics like the five-gallon buckets, milk crates, and barrels. We spent $349,000 over 14 years to get rid of this plastic and knew there must be a better way.” Building and Designing a Sustainable Pallet Pregracke explains, “Pulling plastic out is labor intensive. We run excavators, but it boils down to many people helping out.” A family who owned a shuttered-down tractor factory loved what Green Current was doing to clean up the rivers and sold it them at a great price. They have several facilities dedicated to grinding and injection molding, allowing them to process 3,000 pounds per hour. “The design of our pallets took a year and a half. We hired some of the best consultants we could have in the plastics industry,” says Pregracke. In an effort to be cost-efficient, their operation is heavily automated. “We figured with automation, we could do that and then be more competitive no matter where the plant is.” Although they’ve only been rolling out since earlier this year, the feedback is impressive. Key Takeaways Commitment to Clean Rivers: Pregracke’s commitment to environmental conservation led to over 1,400 river cleanups, engaging over 124,000 volunteers and removing more than 14 million pounds of garbage. Innovative Transition to Logistics: From river cleanup to sustainable pallet production, Green Current Solutions exemplifies innovative reuse of river waste, contributing to environmental sustainability and supply chain efficiency. Eco-Friendly Pallet Production: Utilizing advanced grinding and injection molding processes in repurposed facilities, Green Current produces durable, eco-friendly pallets using 100% recycled materials, showing a commitment to sustainable logistics solutions. The New Warehouse Podcast EP 446: Transforming River Waste into a Sustainable Pallet with Green Current Solutions
Railroads call for immediate reopening of El Paso and Eagle Pass crossings
The Association of American Railroads called on U.S. Customs and Border Patrol (CBP) to reopen international crossings at Eagle Pass and El Paso, TX, which serve as key arteries for the North American rail network. “The urgency of reopening these crossings and restoring rail service between the two nations cannot be overstated,” said AAR President and CEO Ian Jefferies. “There are not separate U.S. and Mexican rail networks; there is only one interconnected North American rail network. Every day the border remains closed unleashes a cascade of delay across operations on both sides of the border, impacting customers and ultimately consumers.” The CBP decision most directly and immediately impacts operations for two Class I railroads – Union Pacific and BNSF – and the customers those companies serve. Combined, these two carriers securely operate 24 trains daily at these crossings, moving agricultural products, automotive parts, finished vehicles, chemicals, consumer goods and more to customers spanning the continent. But ultimately, every railroad is affected by this sudden shutdown of operations since all carriers interchange goods across the North American rail network. “Railroads have worked closely with our partners in both the U.S. and Mexican government to create an effective and efficient screening process,” Jefferies continued. “As CBP continues to address the exceptionally challenging humanitarian crisis, railroads urge CBP to also safeguard the nation’s supply chain from further disruption.” Even as the industry continues to navigate the fluid situation at the border, railroads are diligently working to limit impacts to customers and the network. When the Eagle Pass and El Paso gateways reopen, the railroads are committed to restoring cross-border movements as quickly and safely as possible.
ARA announces industry contributor award recipients
Each year, the American Rental Association (ARA) honors individuals for outstanding service to the association and the equipment and event rental industry. The following are recipients of this year’s industry contributor awards, which will be presented at The ARA Show™ 2024 in New Orleans. Industry Ambassador Award: Byron Alleman This award recognizes an individual who has demonstrated long-term leadership and service to the association at the national, state, or local levels. Byron Alleman, retired owner of Lafayette Rental Service, Lafayette, La., has been a tireless ambassador for the equipment rental industry in the state of Louisiana. He spent two decades in service on the ARA of Louisiana chapter board of directors, including multiple terms in the roles of president, vice president, secretary and treasurer. Alleman hosted industry meetings at his business 14 times, traveled the state visiting fellow rental store members, and coordinated needed equipment in hurricane-damaged areas. He was awarded the ARA Region Four Person of the Year award in 2008 and again in 2016 in recognition of his efforts to advance the industry and serve members in his area. At the national level, Alleman served on the ARA Insurance Risk Management Committee in 2013 and on ARA’s Construction/Industrial & General Tool Shared Interest Group in 2016. In addition, he supported the industry’s legislative initiatives as a member of ARAPAC — ARA’s political action committee. Exemplary Service Award: Scott Pevey This award recognizes an individual or group that has significantly contributed to a defined area of association service (such as government affairs, education, technology, or workforce development). Scott Pevey, senior manager, Ditch Witch, Perry, Okla., served the equipment rental industry as a member of the ARA Board of Directors in the role of associate member director from 2021 – 2023. One of Pevey’s top achievements in this capacity was the direction and feedback he provided to the association as it restructured its communications strategy to a multimedia format. From 2018 – 2020, Pevey served on the ARA Foundation Board of Trustees. During his term, he brought the idea of the Community Impact Program to the Foundation board and was instrumental in developing the partnership between the ARA Foundation and The Toro Company Foundation to implement the program. The Community Impact Program supports local non-profits that help improve communities where members work and live. Pevey has volunteered at six of the 11 Community Impact Projects that have been hosted to date and has assisted in procuring equipment and volunteers from Ditch Witch dealers for all projects. Pevey also has helped guide the direction of The ARA Show as a member of its Exhibitor Advisory Council, serving in 2012, from 2016 – 2018, and in 2021 – 2022 while a member of the ARA Board of Directors. Industry Impact Award: Scott Woodruff This award recognizes a manufacturer supplier and/or independent manufacturer representative rental industry professional who made a significant impact on the association and/or industry during the past two years. Scott Woodruff, CEO, Tent Ox, Mechanicsburg, Pa., devoted himself to developing specialized attachments for articulating loaders. Seeing a need for this type of equipment, he set out to develop the necessary attachments to do the work of the tent rental industry. The attachments are designed to assist with not only tent installations and removals but also with moving materials around job sites in general. Woodruff markets this equipment as the Tent Ox, along with the associated attachments. Woodruff’s equipment has been key in helping many new and established rental businesses learn better and safer ways to accomplish their work. In addition to his involvement in ARA events, Woodruff is an active member of the Manufacturers and Tent Renters Association (MATRA). Rising Star Award: Stefani Donabedian The Rising Star Award recognizes a young professional who has demonstrated leadership at the grassroots level. Stefani Donabedian, vice president of Decanted Wine Truck, Hudson, Mass., recently purchased her wine bar truck, transitioning from her role in the equipment segment as a marketing consultant with Worcester, Mass.-based Mobile Air & Power Rentals. Donabedian joined the ARA of Massachusetts board in 2020 and currently serves in the role of president. To supplement her ARA state board duties, Donabedian has participated in ARA’s Leadership Conference, an event designed to educate and motivate emerging leaders within the association. As a member of the ARA Young Professional (YP) Network, Donabedian has attended several YP conferences and has served on the Young Professionals Committee since 2022. In her capacity as a committee member, Donabedian has helped spearhead the YP learning track in RentalU, ARA’s online education and training platform. Donabedian also has supported the industry’s legislative initiatives as a member of ARAPAC — ARA’s political action committee — and as a participant at ARA’s 2023 National Legislative Caucus in Washington, D.C. In recognition of her efforts within the industry and ARA, Donabedian was named one of Rental Management magazine’s “12 to Watch Under 40” in 2022 and in 2023, she received the ARA Region One Leadership Impact Award. Leadership Impact Awards These awards recognize an individual in each of the ARA 10 regions whose leadership benefited their state and/or local association and its members over the past year. Region One: Dan Morris, Kennebec Equipment Rental Co., Fairfield, Maine Region Two: Tina Behnke Spencer, AirPac Rents, Front Royal, Va. Region Three: Brandon Ahlgren, CERP, Elite Events & Rentals, Tampa, Fla. Region Four: Jennifer Rodriguez, CERP, Marianne’s Rentals, Oklahoma City, Okla. Region Five: Sean Williams, ECP-SM, First Place Rental, Oswego, Ill. Region Six: John Schupp, Rental Supply, O’Fallon, Mo. Region Seven: Herb White, Continental Divide Marketing, Golden, Colo. Region Eight: Tim Allen, Allen Rental, Roseburg, Ore. Region Nine: Michelle Nelson, ECP-ST, MK Equipment Corp., Honolulu Region 10: Jim Boddez, Five Bo, St. Albert, Alberta, Canada
American unity on display on Wreaths Across America Day
National Wreaths Across America Day sees the placement of three million sponsored Veterans’ wreaths at over 4,225 participating locations across the country National Wreaths Across America Day took place at over 4,225 participating locations across the country, including Arlington National Cemetery. Volunteers remembered our nation’s heroes as they said their names aloud, honoring over three million veterans this year. Wreaths Across America would like to thank the communities, dedicated volunteers, and generous sponsors for coming together in unity and supporting those who have protected our freedom. Each person has played a part in the year-long mission to Remember the fallen, Honor those who serve, and Teach the next generation the value of freedom. “What I love most about this day, and this mission, is that it is so much more than just the placement of a wreath. The wreath is the catalyst, it brings together communities – families and strangers — to learn about those who have served and sacrificed,” said Karen Worcester, executive director Wreaths Across America. “We have more than three million volunteers across the country and a third of them are children. This mission and the events happening today provide the opportunity to teach kids about what freedom is.” For centuries, fresh evergreens have been used to symbolize honor and a living tribute renewed annually. Wreaths Across America believes the tradition represents a living memorial that honors veterans, active-duty military, and their families. When volunteers say the name of a veteran aloud while placing a wreath, it ensures they live on in our hearts and memories and are always remembered. For more information about the year-long mission and ways to get involved in your own community, please visit www.wreathacrossamerica.org. National Wreaths Across America Day 2024 was held on Saturday, December 14.
It’s tax time! Are you prepared for what’s ahead?
Is there never a “TAX TIME” in the U.S.? Don’t think so. And I believe “TAX TIME” is going to increase dramatically. The PROBLEM being that the U.S. continues to spend more than it takes in, which we all know does not work in any way, shape, or form. And how do we fix this? By taking more money from you and your company. THERE IS NOT A CHANCE IN HELL THAT THIS WILL NOT HAPPEN, because in four years U.S. debt will be about $40 Trillion, carrying $1.2 Trillion of interest cost (at 3%) and $1.6 Trillion (at 4%). At the same time the annual debt to GDP ratio we are talking about exceeds 100%. The estimates for 2023 are $4,439 Trillion of tax revenues against outlays of $6,134 Trillion of spending, with the debt balance growing yearly without a game plan to reverse the situation. It will take both higher revenues and spending cuts to reduce the deficit, considering that a large portion of spending is fixed (Social Security, Medicare, Health benefits and interest expense), which all together add up to approximately $4.0 Trillion of outlays. Not a pretty picture. No matter how you look at our situation revenues need to increase, and outlays reduced to lower the total debt. I have suggested on many occasions that management spend time with their tax folks to fully understand what their tax position was for the past year, how it looks for the current year, planning for the current year with enough time to execute “tax” programs and to see what is on the horizon for the following year. I hope you have been doing this. If you followed this suggestion, you should have a pretty good feel for your tax position and the impact on that tax position should Congress take steps to increase all the forms of taxes you pay related to payroll, company taxable income and personal income. We find ourselves currently working with the 2017 TAX CUT and JOBS ACT that will expire in 2025. So, to start with let’s assume this ACT will be repealed. As a reminder of what the TAX CUT act provided here is a brief list of the benefits. Lower tax rates— higher standard deduction—Estate and Gift Tax exemptions —-bonus depreciation—a reduced deduction for mortgage interest and state taxes. Suggestions for raising revenue are as follows: Repeal the 2017 Tax Cut Act Raise the top income rate to 45%. Apply the 12.4% Social Security Tax on incomes over $250,000 Payroll taxes to cover all pass-through income Raise total payroll taxes by 1% Reduce estate tax exemption from $12.9 to $3.9 million Raise Corporate Tax rate from 21% to 28 % Capital gains and dividends taxed at ordinary rates Tax unrealized capital gains at death with a $4 million exemption Wealth Tax of 2% for net worth over $50 million and 3% for over $1 billion Further limiting or eliminating deductions A 5% value added tax Limit Charitable Donation deductions 4% on share buybacks Entitlement Program Reform- later access and higher cost 15 cent gas tax The income tax changes will only apply to those making over some set amount, with lower income tax brackets excluded. Cost reductions are not part of this list. Some of you may be wondering why Bartecki is talking about tax exposure 15-20 months out. I did this because the changes are significant and because it may take you a year+ to get your potential tax situation under control. Maybe the ESOP plan sounds better now? Should you gift your wealth to family members via a trust now instead of waiting for probate to do so? Should you accelerate your technology plan to reduce labor costs? Could a life insurance policy help with lowering tax costs? So many options to consider, so easy to make a mistake. But no matter what, there will be a substantial increase in tax costs for both the company and shareholders. Another situation to consider is the expected company cash flow under current conditions. Could you handle a substantial increase in tax spending? Do you know what your free cash flow position will be for 2024 and 2025. With changes in pricing and interest rates, it may wind up lower than what you are generating now. What would I do? If I am in the “sell” range I would look at selling in 2024 or 2025, understanding that at current interest rates the price may be lower than you like. If I am not in the “sell” range and the company is highly profitable, then the ESOP should be reviewed. If I have a substantial estate, I will investigate how to avoid any increase in the Estate Tax or the Wealth Tax. (With ESOP you do not own the company). I would investigate employment benefit plans to find out options for the Roth or IRA. I would find a tax attorney who knows how to use trusts to accomplish reduction of estate value and potential income taxes. I would investigate how to channel transactions through various entities or states to reduce tax. The bottom line here is all will pay more. How much more is up to you. There is not doubt that rates will increase, deductions eliminated, a VAT Tax added and Wealth Taxes in the form of taxable dividends and capital gains and well as a net-worth tax. I would also assume that deductions for IRA’s and 401K’s will be limited. Every time Congress makes these changes companies and individuals get caught with its guard down and pays a heavy price going forward. But you now have a jump start on the situation, especially where the high-priced changes are involved. What works here is you can plan, but you don’t have to execute until you are ready. Happy New Year! About the Columnist: Garry Bartecki is a CPA MBA with GB Financial Services LLC
October 2023 Manufacturing Technology orders up over September but down from 2022
Despite a more optimistic outlook, orders for manufacturing technology, measured by the USMTO report, continued to fall relative to 2022. Through October 2023, orders totaled $4.05 billion, 13.5% behind the total for the first 10 months of 2022 As the summer of 2023 ended, the number of economists predicting a recession dwindled nearly as fast as the amount of sunlight each day. Despite the generally more optimistic outlook, orders for manufacturing technology, measured by the U.S. Manufacturing Technology Orders Report published by AMT – The Association For Manufacturing Technology, continued to fall relative to 2022. Through October 2023 orders totaled $4.05 billion, 13.5% behind the total for the first 10 months of 2022. Although total orders were behind, October was slightly above the average monthly value in 2023. October orders totaled $409.7 million, 4% above September order values. This growth was driven by orders placed in the West region, which grew nearly 60% over September. The South Central and Southeast regions also saw growth but at a much more modest pace. The Northeast and North Central-East regions declined by modest single digits, while the North Central-West region declined nearly 30% from the value of September 2023 orders. The six-week United Auto Worker’s strike lasted most of October, ending with a tentative agreement at the end of the month. Despite the shuttering of production lines, auto manufacturers continued to invest in manufacturing technology. Investments by automotive transmission manufacturers increased earlier in the year, but this is the second month in a row where manufacturers of other automotive components have increased investment. Job shops decreased the value of their orders in October while increasing the number of units purchased. This indicates that job shops are purchasing machinery to increase capacity. In contrast, OEMs have been increasing order value at a faster pace than units, suggesting that they are purchasing machinery for a designated purpose. Of these OEMs, manufacturers of household and major appliance manufacturers made their largest investment since September 2018. Manufacturers of engines, turbines, and other power transmission equipment have continued their elevated pace of orders, already 8% above the amount invested in 2022. This sector is benefiting from recent government investment, pushing orders of manufacturing technology to levels not seen since the industry was transitioning from coal-fired plants to natural gas. The November 2023 jobs report, published last Friday, came in slightly above expectations, with 199,000 new jobs added. This addition of jobs brought the unemployment rate down to 3.7% and demonstrated the continued strength of labor markets in the United States. Of those jobs added in November 2023, 28,000 were in the manufacturing sector. In addition to strong labor market conditions, consumer confidence improved for the first time in November following a three-month decline, according the Conference Board Consumer Confidence Index. A strong labor market and improving consumer confidence will have positivetrickle-down influence on the manufacturing technology markets. The Federal Reserve meets on Wednesday for the final time in 2023. Although the recent cycle of interest rate increases has coincided with a decline in orders for manufacturing technology, this doesn’t align with historic trends. The Summary of Economic Projections from the meeting will be a critical gauge of where the Fed sees growth and inflation headed in the coming months and years. Further interest rate increases aren’t expected. However, even if rates remain elevated, manufacturing technology will continue to be needed in the future if consumers continue to demand goods and services.
Warehouse Trade Association welcomes new staff
The International Warehouse Logistics Association (IWLA) recently added two staff members to its education department, bolstering the organization’s commitment to deliver exceptional development opportunities for warehouse professionals across North America. IWLA is the ONLY trade association focused on the needs of third-party warehouses (3PLs), their leaders, and their employees. The association offers in-person, warehouse-specific educational events, distance-learning opportunities, and a large network of warehouse logistics professionals. “One IWLA strategic focus is delivering the BEST in warehouse education – for all levels and positions in third-party warehouses,” says Jay D. Strother, IWLA president & CEO. “Wil and Bennett bring a fresh approach and practical experience to ensure IWLA fulfills that promise. We are excited about the possibilities now that they are on board.” The new staff members started earlier this fall: William Carton, Director of Professional Development & Convention With an extensive industry background, Wil Carton hails more recently from True Value Company where he served as senior training specialist. His work there focused on warehouse safety, onboarding, and building effective operations in True Value’s distribution centers. Prior to that, he served as the senior training manager for Marcus Corporation. This is all built on his time as chairman of Animation/FX & Design for Tribeca Flashpoint College (now part of Columbia College) and time helming a Chicago-based media company as creative director and co-managing partner. “I have a passion for fostering professional and personal growth,” Carton says. “I hope to use my educational programming expertise to create engaging development experiences for warehouse professionals across all levels.” Carton oversees all IWLA education and meetings personnel, manages aspects of the IWLA Convention & Expo, and updates the core warehouse-management-focused curriculum. Bennett Judson, Meetings & Registration Coordinator Bennett Judson brings a wealth of experience from her tenure at the National Roofing Contractors Association. There she led the meeting services department, coordinating annual convention events, committees, and board meetings. She will play a pivotal role in planning and executing in-person and webinar education programming, including sourcing event locations. She will collaborate with staff, member volunteers, and committees to enhance IWLA’s educational initiatives. “Please join me in welcoming these new additions to the IWLA team,” Strother says. “Their collective expertise will contribute to the continued success and growth of IWLA’s educational initiatives.”
It’s that time of year: “Call me back after the holidays.”
“Call me after the holidays” is the second most-heard objection in sales. (First being, “Your price is too high.” Third being, “I have to think about it.”). It comes up year after year and salespeople get frustrated year after year, unnecessarily. Here’s how to think about it and here’s what to do about it: Humbug. Salespeople hate holidays. It’s an excuse for decision makers to put buying decisions on hold. But the worst of them are the Christmas to New Year, “Call me back after the holidays,” and “Call me after the first of the year.” Two of the most hated phrases in sales. (They still rank behind “We’ve decided to buy from someone else.”) “Call me after the holidays” is not an objection. It’s worse. It’s a stall. Stalls are twice as bad as objections. When you get a stall, you have to somehow dance around it, and then you still must find the real objection before you can proceed. Here are 11.5 clever lines and winning tactics to use that will help overcome the stall: Close on the stall line. “What day after the first of the year would you want to take (would be most convenient to take) delivery?” Firm it up, whenever it is. Ask, “When after the first of the year? Can I buy you the first breakfast of the new year?” Make a firm appointment. If it’s just a callback, make the prospect write it down. Call backs must be appointed, or the other guy is never there when you call. Writing it down makes it a firm commitment. Tell them about your resolutions. “I’ve made a New Year’s resolution that I’m not going to let people like you who need our service, delay until after the first of the year. You know you need it.” Offer incentives and alternatives. Invent reasons not to delay. Bill after the holiday. Order now, deliver after the holiday. Question them into a corner – and close them when they get there. “What will be different after the holidays? Will anything change over the holidays that will cause you not to buy?” (Prospect’s answer — “Oh no, no, no.”) “Great!” you say, “Let’s get you order in production (service scheduled) now, and we’ll deliver it after the holiday. When were you thinking of taking delivery (beginning).” Agree. Then disagree. I know what you mean lots of people feel that way. Most don’t realize that the money wasted between now and the first of the year, will equate to a huge savings if they buy now. Are you sure you want to waste the money? Get a testimonial letter. Ask someone who bought before the holidays and was glad they did to write you a two paragraph testimonial. Video it if you can. Get one paragraph about the value they received and how they originally wanted to wait. The second paragraph should be about how happy they are about your service after the sale. Similar situations are more powerful than your sales pitch. Drop-in with holiday cheer. Use a small holiday plant or gift to get in the door. (No one says no to Santa — unless you live in Philadelphia. There they boo Santa.) Create urgency. There’s a product or delivery back-up after the first — schedule now. Be funny. Say, “So many people have said call me after the first that I’m booked until April. I do however, have a few openings before the first. How about it?” Making the other person laugh (smile) will go a long way towards getting past the stall. An alternative joke is, “What holiday?” 11.5 Beg. Pleeeeaaase. I’ll be your best friend. Reality check. The success with which this stall is able to be handled is directly related to the quality of the relationship that’s been built with your prospect or customer. A good relationship allows more liberty to press for immediate action. A weak relationship will mean you wait until after the holiday. Or longer. Prevention – the best cure. If you know this objection is coming, do something BEFORE it happens. Prevention of objections and stalls is the most obvious, most powerful, and least used sales technique. Here are a few prevention methods: Start in early November to create urgency. Set price raises in September to take effect January 1. Announce them right away and communicate them weekly into the holiday season. Create a holiday special. Have a five-day sale in December. Offer December price incentives or special value incentives. Throw a holiday party. Invite prospects and customers, and offer them a “Tonight only deal.” Hold a series of seminars that are about important issues to your prospects and customers. Have the best one just before the holidays. Serve great food. Create an internal sales contest with a great first second and third prizes. Build relationships all year long. The bottom line is – as sure as you’ll spend lots of money this holiday season, someone will ask you to call them after it’s over. When they do, don’t get mad, get creative. Don’t get frustrated, get a relationship. Happy holidays! If you need more information on this subject, call me – after the first of the year. Ho, ho, ho. About the Author: Jeffrey Gitomer is the author of twelve best-selling books including The Sales Bible, The Little Red Book of Selling, and The Little Gold Book of Yes! Attitude. His real-world ideas and content are also available as online courses at www.GitomerLearningAcademy.com. For information about training and seminars visit www.Gitomer.com or email Jeffrey at salesman@gitomer.com or call him at 704 333-1112.
November 2023 Logistics Managers’ Index released
The road to recovery is not always linear – something that is clearly evidenced by the backwards step the Logistics Managers’ Index took this month. November’s Logistics Manager’s Index read in at 49.4, down (-7.1) from October’s reading of 56.5. This dip back into (very mild) contraction ends what had been three consecutive months of expanding rates of growth. The 7.1-point drop is the largest since the start of the ongoing downturn back in April 2022.However, the reason behind this decline is much different than the one from 19 months ago. November’s dip was largely triggered by a decline in Inventory Levels (-9.1) which is attributable to Q4 holiday sales and the subsequent dips in Warehousing Capacity (+3.6) and Transportation Capacity (+5.2) and slowdown in Warehousing Utilization (-14.0) and Transportation Utilization (-10.7). We saw a similar decline in utilization metrics back in April 2022, but in that instance, it was because inventories were holding still. Essentially, November’s decline seems to have come because firms are selling off inventories quickly. The previous large decline from April 2022 happened because firms had too much inventory and couldn’t sell any of it. Both of these scenarios led to large drops in the overall LMI, but this more recent drop is significantly less concerning. Researchers at Arizona State University, Colorado State University, Rochester Institute of Technology, Rutgers University, and the University of Nevada, Reno, and in conjunction with the Council of Supply Chain Management Professionals (CSCMP) issued this report today. Results Overview The LMI score is a combination of eight unique components that make up the logistics industry, including: inventory levels and costs, warehousing capacity, utilization, and prices, and transportation capacity, utilization, and prices. The LMI is calculated using a diffusion index, in which any reading above 50.0 indicates that logistics is expanding; a reading below 50.0 is indicative of a shrinking logistics industry. The latest results of the LMI summarize the responses of supply chain professionals collected in November 2023. As with every report chronicling the month of November, we should begin the discussion with “Cyber Week” – the five-day period between Thanksgiving and Cyber Monday that has often functioned as the true kickoff to holiday spending. According to the National Retail Federation 200.4 million shoppers made purchases between Thanksgiving and Cyber Monday. This was significantly higher than predicted turnout. Consumers spent $12.4 billion on Cyber Monday and $38 billion in online sales across Cyber Week which is up 7.8% from 2022[1]. The jump in sales at the end of the month is a potential explanation for the increase in activity we see in the second half of November. The increase did not only come from ecommerce, as physical retail store traffic grew as well, up 1.5% from 2022[2]. Electronics, apparel, furniture, groceries, and toys led the way, accounting for 60% of all consumer spending in November[3],[4]. One interesting note on the spending is that the use of “buy now pay later” providers and eschewing the use of the store credit cards which had previously been so lucrative for retailers. This shift in the use to the type of credit consumers are using is likely partially due to the changing demographics of shoppers, with younger spenders less drawn to high-interest cards for multiple stores when compared to previous generations. This wave of spending comes after consumer spending was only up 0.2% in October, which was the slowest increase in spending since May – which is one of the reasons Inventory Levels had built up last month. The low spending was a major contributor to the continued slowdown of inflation[5]. This dip was also reflected in the San Francisco Fed’s measure of inflation factors, which showed demand as being deflationary in October, the first time since January 2022 when consumers first started stepping back from the record spending of 2021[6]. The Fed is not ready to say that they are through raising interest rates. However, given the continued improvement in their preferred inflation metrics, it seems unlikely they will raise rates at their December meeting. Whether or not this is indicative of an eventual reduction in rates remains to be seen[7]. If consumer spending is muted through the end of the year, a rate reduction may enter into the realm of possibility. Markets seem to be expecting this possibility. In the U.S., the Dow rose for the fifth consecutive week at the end of November which marks its longest period of expansion since 2021. The S&P 500 and Nasdaq have increased over the last five weeks as well as investors grow more hopeful of a slowdown in interest rates[8]. LMI respondents are optimistic about growth in the logistics industry over the next 12 months. For that growth to occur it is likely that the predicted relaxation in interest rates will have to have happened first. Despite the dip in the overall LMI (-7.1) to the very mild rate of contraction of 49.4, the North American economy continues to chug along. The “earnings recession” that U.S. firms had been mired in seems to have ended. Earnings had been down since Q4 of 2022 but rebounded in Q3 2023 with corporate profits reaching a total of $3.28 trillion – just shy of the all-time record of $3.3 trillion set in Q3 of last year[9],[10]. However, as has been the case through most of 2023, this recovery is not consistent across the globe. The slowdown in the Panama Canal is sending fuel prices skyrocketing in Asia as the LPG carriers are being given last priority (behind passenger and cargo ships) to get through the canal[11]. This could potentially lead to inflation in Asia this winter as heating becomes more expensive. This would be particularly unwelcome news for China, which is already struggling due to low consumer demand fueled by their faltering real estate market and continually contracting factory activity[12]. Sailings through the Panama Canal will be restricted through at least February. High fuel prices for the world’s second-largest economy could potentially have ripple effects around the
Rental Hall of Fame inductees announced
Each year, the American Rental Association (ARA) honors individuals for outstanding service to the association and the rental industry. This year, two longtime rental industry leaders will become the newest inductees into the Rental Hall of Fame and will be honored at The ARA Show™ 2024 in New Orleans. The Rental Hall of Fame was created in 2000 to honor those individuals who have changed the trajectory of the equipment and event rental industry. Each year, nominations are accepted to recognize outstanding industry leaders who have made a substantial and lasting impact on the industry’s success and growth at the national and/or international level. “The Rental Hall of Fame is ARA’s most prestigious award. This year, we recognize two individuals whose contributions made a significant impact on growing the equipment and event rental industry. Their dedication has been felt across the rental community and we look forward to bestowing them with the rental industry’s highest honor,” says Tony Conant, ARA CEO. Bruce Campbell, Do It Best Corp., Fort Wayne, Ind. Bruce Campbell, an equipment rental industry veteran began his career in 1968 in Fort Wayne, Ind., as an employee of an independent rental store. In 1974 he relocated to the Cincinnati area. Then in 1984, he founded L&B Equipment Rental in Harrison, Ohio. As a rental operator, Campbell served a term as vice president of the ARA of Ohio and two terms as president of the Greater Cincinnati Tool Rental Association. In 1989, he earned an ARA President’s Image Award for L&B Equipment Rental. Campbell sold his rental business in 1992, retired, and became a rental consultant. In 1994, Campbell was instrumental in the launching of a rental program for Do it Best Corp., then known as HWI (Hardware Wholesalers, Inc.). Do it Best Corp., a cooperative that supplies products and services to independent hardware, lumber, and home improvement retailers, was looking for an expert with rental knowledge to help develop the program. Campbell contributed his consulting services to the initiative and helped many Do it Best Corp. members become successful rental operators. Campbell helped create the Do it Best Rental School – a member education event through which he provided extensive knowledge of equipment, procedures, safety, the latest trends and strong financial knowledge. Through this program, Campbell aimed to instill high standards and the importance of product quality, inventory and customer service. Over the years, Campbell has worked to continuously enhance the Do it Best Rental School’s curriculum and offerings. Along the way, he has served as an invaluable resource for learning all aspects of the rental industry for program members across the U.S. and abroad. Campbell also strongly advocates for his Do it Best Rental School students to become active in ARA both locally and nationally. Jay D. Chapin, Taylor Rental Corp., Springfield, Mass. The late Jay D. Chapin of Westfield, Mass., past president and co-founder of Taylor Rental Corp., began working at Dealer Supply Co. in 1959, the same year that the organization put together the first Taylor Rental franchise. He became vice president of Dealer Supply Co. in 1963. Chapin was named company president in 1971, and in 1972 Dealer Supply Co. became Taylor Rental Corp. Seven years later, there were 626 Taylor Rental Centers (TRCs) in full operation in 49 states in the U.S. As president of the organization, Chapin helped family owned, small-business entrepreneurs prosper by backing them with the knowledge, experience and opportunities that a major corporation could provide. Under Chapin’s leadership, Taylor Rental Corp. was at the forefront when digital information was in its infancy in the rental industry. In the late 1970s, he introduced TOPIC–the TRC equivalent of Taylor Rental Corp.’s proprietary point-of-sale computer system, CompuRent. In 1982, he made CompuRent available to independent rental outlets. During his career, Chapin developed many products, programs and services that enabled TRC franchises to grow and expand the rental concept in communities throughout the U.S. He instituted a team of business management consultants to provide on-site guidance and support to franchisees, developed private-label products to enhance brand recognition, created in-store designs and signage, built a 100,000-sq.-ft. warehouse to allow for faster delivery of products to franchisees, and instituted national advertising programs. Chapin also encouraged TRC members’ involvement in ARA.
Women In Trucking Association announces its December 2023 Member of the Month
The Women In Trucking Association (WIT) has announced Deb Beecher as its December 2023 Member of the Month. Beecher is an area risk manager I for J.B. Hunt Transport and recently celebrated 40 years with the company. Raised by a 3-million-mile safe driver, Beecher was familiar with the trucking industry and had an appreciation for drivers and the work they do across the nation. She remembers passing by J.B. Hunt on her way to church every Sunday and shortly after graduating high school, her best friend’s father who was a vice president of transport at the time encouraged her to apply. The decision was easy as the passion for the industry was already there. Celebrating 40 years with the company in 2023, Beecher did not start her time there thinking she was going to make a full career out of it. “My intention was to go into nursing, but I ended up on a different path,” said Beecher. “Since the start, I have really enjoyed working at J.B. Hunt. I look back now, and know transportation is where I was meant to be. I have held various roles at this company but have always come back to the operational side and working with the heart of our company, the drivers.” Beecher understands the importance of safety within her company and values deeply the opportunity to provide safety resources to its drivers. “Many drivers have connected with me to say thank you and I love that about my role,” said Beecher. “Whenever our drives utilize new safety resources, it’s like a lightbulb turns on for them and it’s not just a good feeling, it’s a great feeling.” A fond memory of her time at J.B. Hunt was before driver load sheets were digital and one that was essential to an important load has been misplaced. Mrs. Hunt personally took the time to help Beecher look for the load sheet until it was found. She enjoyed the time she got to spend with Mrs. Hunt saying, “she has always had a heart for the drivers of J.B. Hunt and would do whatever it took to make sure their time at the company was successful.” In 2018, Beecher received the Rodney Horton award that is given in recognition and appreciation of commitment to J.B. Hunt and compassion for others. The award is in honor of Rodney Horton who was a long-time employee and exemplary person who passed while employed with J.B. Hunt. In this same year, Beecher and her team received the Pillar award for Q1 for Truckload Support category. Beecher is a champion for women in the trucking industry saying, “I encourage women within our industry to show up to work, do your job well, and you will be recognized for your work. Believe in yourself and never think you aren’t capable.”
Association of Diesel Specialists Convention will feature session on Technician Retention
George Arrants, Vice President, ASE Education Foundation will present “What Makes Technicians Leave? and How to Stop Them” at the 2024 ADS Convention in Grapevine, Texas The Association of Diesel Specialists (ADS) has announced a new speaker for the 2024 ADS International Convention, George Arrants. Arrants will present “What Makes Technicians Leave? And How to Stop Them” at the Gaylord Texan Resort & Convention Center. The convention runs from January 21-22, 2024 immediately preceding Heavy Duty Aftermarket Week (HDAW) and features the latest industry education sessions as well as numerous networking opportunities. When an ADS service member has a quality technician leave, it creates a major void that is difficult to fill. This session will address the challenges of retention and recruitment of technicians. ASE Foundation’s Arrants will share his insights into what really motivates technicians to leave employers. It’s more than just pay. He will offer practical and actionable tips on how ADS members can strengthen relationships with existing technicians and create relationships with technical schools to supplement their workforce effectively. “We look forward to having George present at the 2024 ADS International Convention,” stated ADS CEO Scott D. Parker. “Losing talent is difficult, particularly in today’s employment environment. Every ADS member will benefit from this session with real takeaway retention ideas.” During the ADS International Convention (January 21-22), ADS members will receive diesel specific industry education and training as well as networking opportunities with hundreds of their peers in the diesel sector. Immediately following the ADS International Convention, HDAW kicks off (January 22-25). ADS members will interact with more than 2,500 executives and managers at the largest North American gathering of light, medium and heavy duty aftermarket professionals in the industry. HDAW also features a trade show with over 300 exhibitors. Register for both the ADS International Convention and HDAW now for lower pricing.