WASHINGTON, D.C.- Machinery Dealers National Association recognizes the MDNA Philadelphia Chapter for their generous contribution for this year’s upcoming 74th Annual Convention & Business Meeting in Washington, D.C.
The Philadelphia Chapter has made this contribution in honor of and in anticipation for the incoming MDNA President (one of their own Philadelphia Chapter members). Please join us in thanking them for their contribution that will ensure that the 2015 Washington D.C. Convention is a fantastic tribute to the incoming President.
This sponsorship money will go towards making this Convention more affordable for all members of this Association. MDNA hopes that by recognizing this chapter it provides a visible acknowledgement of the importance that their contributions have made on our Association and its members.
The MDNA thanks the Philadelphia Chapter for their support!
About the MDNA Convention: MDNA’s 74TH Annual Convention & Business Meeting is scheduled to take place on April 23rd- 26th, 2015 at The Historic Mayflower Renaissance Washington, DC, Hotel. The MDNA Convention is open to MDNA members, MDNA Premier Vendors, sponsors – and invited guests who have not attended an MDNA function in the last five years. LEARN MORE ABOUT CONVENTION HERE
A special message from Direct Capital (MDNA Premier Vendor) to MDNA members…
Direct Capital’s relationship with the MDNA goes way back.
Since 2005, Direct Capital has been the company most MDNA dealers have turned to when their customers have needed financing. A decade later, our relationship is still going strong. We are proud to have been designated one of the first Premier Vendor’s in 2013.
But in that time, things have changed. Like every relationship, after a while the status quo doesn’t suffice. We wanted to be something more; we wanted to give more. So we came up with a solution.
MDNA partners, don’t worry. You’re still getting the same great offers – 2%referrals on deals generated, 100% pre-funding with payments before shipping, and application only (no financial review) up to $250K. Except now we’ve made our leasing program even better.
Having exclusive offers for MDNA partners is something we’re proud of, but so is our new digital lending platform. Whether you are a proficient iPhone and tablet user, or someone who just casually checks out Internet Explorer now and again, we guarantee our technology will work for you. And here’s why:
Technology that Works for You and Your Customers
Access a Quote Tool: You want to sell a payment, not a full price, and our quote tool allows you to do just that. Show your customer what their monthly payment could be right from our platform. Or, send it to them in an email.
It’s Fast and Easy: You don’t have to be technologically-savvy to understand and use our lending platform. Our online application takes only 3 minutes to complete, and your customers can receive approvals in as little as 30 seconds.
Track Your Deals: Once the application is submitted, you can track your customer through each stage of the financing journey.
We Offer Training: We understand ease of use means something different to everyone, which is why we offer training and support to all of our MDNA partners.
At the end of the day, your goal and our goal is the same: to connect buyers to payment solutions that help move the machine. You want your customers to buy from you, and so do we.
As a dealer, there are few things worse than customers telling you “no” because they can’t afford the machine. Leasing, and doing so with streamlined quoting and approval technology, gives them an offer that’s hard to pass up.
There’s no other way to say it: integrating your sales process with our technology will help you close deals. We offer flexible programs that can meet any business need and we make it easy for everyone to use. With our technology, dedicated team of lease professionals, and industry expertise on your side, the next 10 years we spend together will be just as strong.
Companies worldwide are grappling with how to increase employee engagement. It is estimated that in the U.S. alone, employee disengagement costs the economy as much as $500 billion per year.
A 2013 Gallup study of the global workplace involving 25 million employees in 142 countries found only 13 percent of workers rated themselves as engaged, and thus likely to be making positive contributions to their organizations.
Just recently, Deloitte released the results of its 2015 Global Human Capital Trends survey of more than 3,300 organizations in 106 countries, in which 8 in 10 respondents cited organizational culture and engagement as the most critical issue in their organization.
Many factors contribute to employees’ sense of disengagement, including organizational culture (whether it’s empowering, open, collaborative), leadership (whether it’s communicative, responsive, inclusive, tolerant), opportunity for advancement, work/life balance and level and quality of performance feedback.
In addition, several recent studies demonstrate that the workplace environment can have a profound effect on engagement.
A study commissioned by office furniture manufacturer Steelcase of 10,500 workers in 14 countries discovered that “employees who are highly satisfied with the places they work are also the most highly engaged.” On the other hand, employees who said they felt disengaged felt their work environments were not supportive.
The vast majority of disengaged workers said their work environments do not allow them to concentrate easily (85 percent), feel relaxed or calm (84 percent), allow them to choose where to work to accomplish a particular task (86 percent) or accommodate mobile workers (79 percent). Two-thirds said it was important to have a place to socialize and have relaxed, social conversations with their co-workers.
Commercial supplier Herman Miller conducted research at 15 companies in the U.S., U.K., Australia and India on the role of the physical environment in workplace collaboration. They found that highly collaborative firms, especially those with higher ratios of collaborative spaces to individual workspaces, had high levels of worker engagement and innovation.
Similarly, a team of Boston researchers studying informal network structures in organizationsfound that workplace design affected employees’ levels of communication, interaction and information sharing.
Together, these studies reveal five key strategies to improve engagement through workplace design:
1. Position employees who need to share information in close proximity to one another.The Herman Miller researchers found that 70 percent of collaborations happen at the desk. The Boston team observed that “employees seated far away from each other were less likely to exchange email” or engage in face-to-face communications.
2. Allow flexible seating arrangements. The Boston team reported that “workers who were encouraged to utilize flexible seating arrangements in a remodeled space had a higher proportion of face-to-face interactions with colleagues outside of their team.” Herman Miller’s researchers discovered a trend toward more open and flexible office environments, including the use of unassigned workstations.
3. Provide a variety of collaborative spaces. Today’s work and work culture require many different ways of engaging and collaborating. Giving employees the right tool for the job — in this case, the right type of space to support collaboration — encourages interaction, innovation and productivity.
4. Offer spaces for casual conversations and socializing. Strengthening relationships is crucial for building trust, which in turn increases information sharing and collaboration, as well as a sense of belonging to the company — a key factor in fostering engagement.
5. Protect privacy. Being able to work without distractions and interruptions, whether alone or as part of a team, ranks high on employees’ descriptions of a supportive workplace. Give employees enclosed or semi-enclosed spaces where they can engage without creating or being subject to noise pollution.
Changing the physical environment has not only practical implications but also symbolic ones. As the Boston researchers point out, “informal tools, such as office layouts, group lunches and chats by the coffee machine, are the management tools of tomorrow as the informal relationship that they enable becomes more and more meaningful than hierarchical formal procedures.”
Companies want more engaged employees, but employees need to interact and bond with one another to feel more engaged in their companies. Redesigning the workplace to encourage those behaviors signals a culture change and will act as a catalyst to change the culture.
Michael J. Berens
Michael J. Berens is a freelance researcher and writer with more than 30 years of experience in association communication and management. He can be reached at email@example.com.
He is one of the MDNA’s newest members—just joining in January of 2015. An ambitious, young, marketing, tech-savvy, machinery dealing entrepreneur, Carl Davis, is the founder of the new Georgia base industrial equipment company, The Equipment Hub and we know he’ll be bringing some fresh energy into this Association with his background.
Carl says “I started The Equipment Hub in the winter of 2011. I’ve had an innovative, entrepreneur spirit my whole life that stems from my passion of solving problems and creating new products or processes. Prior to starting the company I had a number of side businesses. The initial spark in creating the flame of The Equipment Hub was the introduction of eBay to my life. When I was 15 years old I started using eBay to sell anything and everything I could get my hands on. Fast forward to the age of 25. I was working with a chemical manufacturer and had the opportunity to help sell some surplus machinery. To my astonishment I sold an old and obsolete machine relatively quick and for a good amount of money through eBay. This is when I realized two things: the internet was a powerful vehicle to moving machinery and most manufacturers had some old piece of machinery sitting around that they just wanted to get rid of.”
Not long after founding The Equipment Hub in December 2011 Carl’s brother & now business partner Mark joined to help grow the company. “Since the beginning my brother and I have worked our butts off to achieve success. When we initially started up we had little machine experience. Because of this we had to rely on skills I had developed throughout my life; HTML code writing, Photoshop, video and photo work, SEO optimization and Internet marketing with a touch of creativity. Our pitch was on effective equipment marketing not machine knowledge.”
In the beginning Mark and Carl worked from home. Carl remembers going out to various types of manufacturers, pitching to them that they could broker their surplus and bring them a return on their idle assets. After doing this for a while they realized they were missing out on greater opportunities because they didn’t have the ability to store machinery that many companies preferred to sell to them.
In September of 2012 Carl and his brother Mark made their first big step by mustering the courage to get their own place. Carl candidly says “Scared s*****ss we signed a one-year lease on a 10,000 sq. ft. warehouse. From there we both took out $10,000 each from our personal funds to start buying and selling machinery.” Carl took on the role of acquisitions while Mark took on the role of cleaning, testing and listing the newly acquired machines. Shortly after signing the lease the two closed on their first deal, buying $4500 worth of machinery, which later sold for around $15,000.
Carl recalls “Our first big break came when we were introduced to two brothers in their 80s. They were machinery dealers just south of Atlanta that essentially had a stale business. The way they said it was ‘all their customers had either died or were retired.’ They had about $150,000 of metalworking machinery that they couldn’t sell anymore. Long story short, we sold all their machinery (about 75 machines) in 6 months.”
The duo had become known as the “Internet Guys.” As their reputation started to quickly spread in January of 2013 they had a similar experience happen with another machinery dealer. This dealer needed the “Internet Guys” to help market and sell his idle inventory. After moving his inventory in record time, the duo started buying out whole facilities together and after taking some noted advice they also began to delve into representing some new lines of machinery.
In February of 2014 Thermwood Corporation, a manufacturer of high-end 3 and 5 axis routers contacted the duo to represent their routers in Georgia, Florida and Alabama. Carl says “Although we had dealt with CNC machines in the past, the experience with Thermwood has been invaluable. Thermwood has paved the way to me understanding CNC and selling CNC machinery better. We have dealt with so many different machines over the last 3 years of being in business.”
As The Equipment Hub continues to grow the team looks to focus more and more on high end CNC machines used both for machining and fabricating on metal, wood, plastic and composite materials.
Today The Equipment Hub is operating out of a 20,000 sq. ft. warehouse, has a team of 6 people, and have experienced 50% + growth every year. Carl, a soon to be new father with wife Heather, credits his business’s success so far to his great mentors, business partners, family and clients. Carl says
“This has been an amazing journey for us so far and we feel that the sky is the limit for the future.”
Carl plans to attend MDNA’s Convention this April 23rd through 26th and is looking forward to meeting fellow members in Washington, D.C. this year.
“I joined the Machinery Dealers National Association years ago because I needed a place that I could turn to in order to find professionals and specialists in the sales and service of industrial machinery. As well, a group of companies that share the same ethics and business practice as my own. Throughout the years, I have reached out to the MDNA membership, and in turn, it has helped me to grow my auction and appraisal business.” – Terrance Jacobs, CEO, TCL Asset Group Inc.
(March 18, 2015) —- C.W. Wood Machinery, Inc. (an MDNA member firm) is pleased to announce that Dave Edwards has recently joined their company as Director of Outside Sales and Marketing. Dave comes to C.W. Wood with over 40 years of professional experience in the metalworking industry including 30 of those years in various leadership roles with Cincinnati Milacron and new product/process design, testing, engineering, manufacturing, product operations management, as well as sales and marketing. Dave has provided product and process improvement solutions spanning a wide range of industries including aerospace, automotive, petro-chemical, bearing, tooling and medical industry segments throughout his career. C.W. Wood welcomes Dave to their team.
By John Canally, CFA Chief Economic Strategist, LPL Financial
Weekly Economic Commentary, March 23, 2015
Without question, the key event for financial markets last week (March 16 – 20, 2015) was the Federal Reserve’s (Fed) decision to remove the word “patient” from its policy statement, putting market participants on watch for a rate hike later this year. But, as always, the devil is in the details. While the Fed’s policymaking arm, the Federal Open Market Committee (FOMC), signaled last week that it is ready to raise rates when members are “reasonably confident” that inflation will move back toward its 2.0% target, FOMC members substantially lowered their forecast for the level of the fed funds rate over the next several years. In addition, the FOMC lowered its forecast for gross domestic product (GDP) growth and inflation over the next few years. On balance, the outcome of the meeting confirmed our long-held view that the Fed would keep rates “lower for longer.” Fed Chair Janet Yellen’s post-FOMC meeting press conference confirmed the “lower for longer” theme, reminding viewers around the world that although the FOMC removed “patient,” it did not mean that the FOMC was going to raise rates at the next FOMC meeting in April. Yellen also stressed that a rate hike was not a sure thing and remained “data dependent,” i.e., they would need to see the labor market continuing to improve, inflation stabilizing, and inflation expectations moving higher for the period ahead.
We will continue to watch what the Fed is monitoring (the labor market, inflation, and inflation expectations) and will provide updates on the progress of these key metrics as needed. We provided an in-depth look at what the Fed is watching on the inflation side in last week’s (March 16, 2015) Weekly Economic Commentary, “FOMC Preview: When, How Often, and How Much.” The minutes of last week’s FOMC meeting will be released in mid-April and the next FOMC meeting is April 28 – 29, 2015.
LOOKING AHEAD WITH THE LEI
A report that may have been overlooked by financial market participants last week was the Conference Board’s monthly Leading Economic… Read the Full Report here: Economic Commentary 03232015
By Burt White Chief Investment Officer, LPL Financial
David Tonaszuck, CMT Technical Strategist, LPL Financial
Weekly Market Commentary
In technical analysis, “intermarket analysis” looks at the way in which various markets interact. Intermarket analysis primarily looks at four market sectors: currencies, commodities, bonds, and stocks. From a technical analyst’s perspective, focusing our attention on only one market without considering what’s happening in the others leaves us in danger of missing vital directional clues and potential profits.
The dollar, which has appreciated 24.4% since June 30, 2014 (as of March 19, 2015), has had an unusually strong intermarket effect of late. Today, we look at the dollar’s recent impact on other major markets and what it means for investors from a technical perspective. Since June 2014, a strong U.S. dollar has created a tailwind for European equities, while creating headwinds for the euro and commodities, especially crude oil, as well as equity markets for commodity-exporting emerging market countries such as Brazil. (To read about the dollar’s impact on domestic equity markets, see the March 16, 2015, Weekly Market Commentary, “Dollar Strength Is a Symptom Not a Cause.”)
CURRENCY RIPPLE EFFECTS
The strength or weakness of the U.S. dollar, as measured by the U.S. Dollar Index, is determined by the dollar’s value against a basket of major world currencies. As of March 19, 2015, the euro made up 57.6% of the U.S. Dollar Index. A strong dollar, therefore, generally corresponds to a weak euro. Technically, the U.S. Dollar Index has been operating in a bullish price trend, as represented by a positively sloping 40-week simple moving average [Figure 1, page 2]. The magnitude of its price move higher since July 2014 may be considered substantial, reflected by a weekly 14-period relative strength index (RSI ) value of 74 [Figure 2, page 2]. The RSI (14) is a technical momentum indicator that compares the magnitude of gains to losses over the last 14 trading periods. For the RSI (14), any reading above 70 is considered a strong, possibly overbought, uptrend; any reading below 30 is considered a strong, possibly oversold, downtrend. Conversely, related weakness in the price of a euro in dollars (EUR-USD) has….Get the Full Market Report Here: Market Commentary 03232015
Economic headlines this month announced that the rejuvenation of the United States manufacturing sector is on the skids. But is manufacturing declining, or is this merely a blip on the radar?
According to the latest research by the Institute for Supply Management, factory activity in February fell from 53.5 in January to 52.9 — its lowest point since January 2014, a 13-month low.However, any index number above 50 is an indicator of an expanding manufacturing sector.
In a recent column in Industry Week, Chad Moutray cites a number of reasons for the February drop, including:
Lower energy costs
Actually, this is a two-edged sword. Manufacturers who use petroleum products in their manufacturing process, especially consumer goods, actually gain from lower oil prices. But manufacturers of large and expensive earth drilling and moving equipment predict slower growth as do producers of energy-related products, such as pipelines.
Based on a December survey conducted by the Manufacturers Alliance for Productivity and Innovation (MAPI), manufacturing is expected to grow 3.4 percent in 2015. The original estimate in November was for 3.8 percent growth. The reason for this lower estimate is based on a projected price of $63.50 per barrel instead of the $80 used in the November projections. The price of oil currently sits below $50 per barrel.
Nevertheless, Don Miller, MAPI’s director of economic studies, said, “I’m dubious whether oil prices will remain extremely low for the entire year. I expect some bounce back.”
Sluggish growth in overseas markets
When the U.S. dollar is strong, exports are more expensive, and sales overseas slow. The big reason the dollar has gained against other currencies abroad is that the pace of recovery from the global recession for those continues to lag behind that of the U.S.
Struggling economies cannot afford many U.S. exports, especially those targeted toward consumers.
Port labor strike on West Coast
First a slowdown, then a strike and finally a contract. During the slowdown and strike, manufacturers from automakers to toy manufacturers slowed or temporarily closed production lines due to lack of parts that were sitting on ships waiting to have containers offloaded.
The strike, which began in 2014, ended Feb. 20, and things are finally getting back to normal. However, the agreement is tentative until the International Longshore and Warehouse Union and Pacific Maritime Association (ILWU) votes on the five-year contract.
The United States has endured a brutal winter, which has had a negative effect on the economy as a whole. And weather is increasingly becoming a factor in doing business.
“Large weather disasters, or weather events causing more than $1 billion in damages, are becoming more frequent,” according to the United States Environmental Agency (EPA). “The country experienced 20 weather disasters in the 1980s, 47 in the 1990s, and 48 in the 2000s; but in the just the past four years, 36 weather disasters occurred more than double the pace of the two previous decades.”
What does the future hold?
According to a report distributed by the Boston Consulting Group (BCG), the manufacturing sector of the U.S. economy is still poised for growth.
Starting in 2012, BCG began tracking companies that are reshoring (ceasing overseas manufacturing and bringing the work back to the United States). Until now, BCG says somewhere between 300 to 400 have reshored “at least part of their operations.” Since 2003, the number of companies starting new offshore operations has declined by 70 percent. During the same period, reshoring has climbed by 1,500 percent.
“It’s never a good idea to make hasty assumptions,” according to Indramat Products. “One ‘slow’ month of manufacturing doesn’t necessarily say anything about its future. After all, the manufacturing sector still grew, just not as much as people were hoping for. January marked the 27th consecutive month of growth for manufacturing. It would be a reach to say that manufacturing is slowing down because it has grown for 27 months straight.”
That said, predicting the future of manufacturing is not a precise task. Weather, work stoppages, supply chain disruptions and many more factors influence U.S. manufacturing.
Nevertheless, if — and that it is a big if — oil prices stabilize, there is no labor strife in the supply chain, the weather becomes moderate, and overseas economies grow, then 2015 could be a banner year. But it is unlikely that the world will ever be perfect, and manufacturing remains a global process.
The question is: Do you think the glass is half-full or half-empty?
About the Author
Alan Kelsky is a freelance writer with a master’s degree in business administration from Xavier University with a specialty in healthcare management. Alan was formerly a hospital CEO with an active emergency room and was the CEO of an urgent care center in Pompano, Florida. He is also formerly the owner of Electric Control Services. His company worked with manufacturers and commercial building owners by offering energy audits, energy efficiency technology sales, installation and follow-up monitoring.
In high school and adolescent years in his small hometown of Sandusky Michigan he was better known as “Brew Ha,” “Bangin Bear” and “Kiss of Death.” If you dare to be so bold, you’d challenge him for his title of “fastest pin in wrestling” which was a record 5 seconds time. Kevin Brewster, President and founder of On Target Machine Brokers, LLC located in Watertown, Connecticut has been a member of the Machinery Dealers National Association (MDNA) since September of 2013.
Don’t let this competitive, all-star sports jock, machinery dealing, outdoorsman hunting, fishing, camper, Young Gun fool you. Underneath the towering 6”2 build is an easygoing softer guy. A family man who reminisces with wife Julie saying
“Our favorite memories are camping trips with the kids when they were younger and telling them the old spooky urban legends of Hookman before bedtime near the campfire.”
Kevin and Julie have a lot of mouths to feed with four children, Kenny 26, Rachel 23, Brandon 19, Alexandria (AKA Pip) 16, plus a daughter in law Alyssa 26, granddaughter Amelia 9 months, their chocolate lab Mongo and in Kevin’s words “One stupid cat named Lady.”
Kevin started out in this industry as what dealers refer to as the “end user” opening his first shop at the age of 25 in Michigan (KC Machining Inc.). He was known for Wire EDM specialties in 4TH axis and was published with Mitsubishi for discovering new process to wire components. His background includes Wire EDM, Die Sink EDM, Engineering, and Project Management in the tool and die, Plastic extrusion tool and Plastic Mold making.
After relocating to Connecticut nearly 14 years ago to work and apply his skills in Medical Device Manufacturing Kevin decided he would break off on his own again. Kevin founded On Target Machine Brokers, LLC three and a half years ago and he says
“I had worked in manufacturing equipment sales for several years, but did not respect the dishonest methods I was exposed to. I knew that I had something to offer to this industry and decided to go on my own and build a company I could be proud of.”
“I started my career with precision metal fabrication and I have a vast knowledge of how the equipment works. Due to this knowledge OTMB can offer our expertise and experience to ‘Target’ the right equipment for our customers. This and our customer service is what makes our team gain our customers’ trust and keep it. Our core values are to ensure our customers are profitable with their new equipment and ensuring that they have the best experience possible.”