Category Archives: Newsroom

oprah 5

Oprah Winfrey’s Studio gets Auctioned off by MDNA Member Firm

By Paul Finn,  Joseph Finn Co. Inc. 

Oprah Winfrey. Not a name you usually associate with auctions. Definitely not a name you associate with industrial auctions. But this year Oprah’s Harpo Studio sold off millions of dollars of state-of-the-art equipment in a two day auction conducted by (MDNA Member Firm) Joseph Finn Co. Auctioneers.

oprah auction

As with any auction of this magnitude, one of the largest sales of its kind ever in Chicago, it was extremely complicated. When Winfrey took over Fred A. Niles Studio in 1988, she and her partners invested millions of dollars. Twenty-five years later, Winfrey moved her production to Hollywood, leaving behind what had grown from a 90,000 square foot stage complex to nearly a whole city block filled with equipment. It was a veritable cornucopia of broadcast equipment, including HD cameras, lenses, teleprompters, techno cranes, lights, mixers,

“The complex was nearly a whole city block. It was

a veritable cornucopia of broadcast equipment.”

Oprah auction 1

microphones, and of course, receivers, headsets, and miles of cables. In an interesting decision, the auctioneers decided to have an online only sale. This made it much more manageable given that there were over three thousand lots. But this further affirms the potency of the online auction. Certainly, it must have been tempting to fill up Oprah’s former studio with live bidders. In the end, the sale did not disappoint, with over 800 registered bidders and more than 400 winning bidders. And with the global reach of the online auction, the sale was able to attract buyers not only from across the United States, but across the world, including Denmark, Israel, the United Arab Emirates, India, and as far away as Australia. The debate about whether or not to have a live auction component will continue, but there is no question this sale demonstrated the power and efficacy of the online auction. The Internet will continue to erode many traditional mediums, but we know one thing for sure – Oprah can still bring ‘em in and that’s the power of television.

john josko

Members Share Valuable Lessons Learned for 2016

As we make our way into the NEW YEAR of 2016, it’s important to look to the past to see what lessons can be gleaned. We asked a few MDNA members to tell us something important they’ve learned. Here’s what they had to say…

john joskoOver the years in this industry I have learned that you must continue to educate yourself and never close your mind to learning new things or new ways of doing something you think you know how to do.  —John A Josko, Industrial Asset Appraisals & Consulting, Inc.

 

         “MANAGEMENT IS DOING THINGS RIGHT –

LEADERSHIP IS DOING THE RIGHT THING”— Terry Yoder, Yoder Machinery Salesterry yoder

 

 

Paul Lashin, Prestige Equipment says “The main thing I’ve learned (and keep learning) is Paul Lashin that no matter how advanced our means of communication get, nothing beats a personal phone call, or better yet, sitting down over a steak and a Martini, to help develop a relationship and get a deal done.”

brian swain

 

“Never make the same mistake twice!”

Brian Swain – President, PlastiWin Capital Equipment, LLC

erik macs

New Director of Sales for Wire and Plastic Machinery Corp.

MDNA Member Firm, Wire and Plastic Machinery Corp. hires Erik A. Macs as the erik macsnew Director of Sales of Bristol, CT. Mr. Macs has over 25 years of experience in wire and cable machinery sales. Previously, he had been involved with ebeam crosslinked wire materials research at Judd Wire, blown film packaging manufacturing at Union Camp, extrusion and injection molding processing at Dennison and Teflon film heat sealing and thermoforming research with American Durafilm. He has a degree in mechanical engineering from Central New England College. He has been a member of the Wire Association International since 1991 and was the recipient of WAI’s 2013 Donnellan Memorial Award, which honors an individual’s contributions to the Association, as well as WAI’s 2004 President’s Award for extraordinary volunteer service. He served two terms on the board of directors of WAI. He is still a member of the Education Committee, Member Relations Committee, and Paper Awards Committees. A former director of the New England Chapter of WAI, he also served as that chapter’s president in 2000. He developed the seminar “Introduction to Insulated Wire Manufacturing” which was presented by the New England chapter in 2001 and 2002. He has also chaired the Fundamentals of Wire Manufacturing program since 2007, frequently serving as a course moderator and presenter.
Erik and his wife, Laura, have been married since 1986 and have one son, John (24). They currently reside in Natick, MA.

wire and plastic logoMDNA Member Firm, Wire and Plastic Machinery Corporation deals in used and rebuilt machinery around the world for the Wire and Cable and Optical Fiber industries and has 7 US warehouses located in CT, MA, RI, NC and TX.

government

Section 179- President Signs Tax Extenders Bill

Posted: 12/21/15

On Friday December 18, President Obama Signed the $1.8 Spending and Tax Bill Into Law.  Earlier on Friday, the Senate gave final congressional approval to the bill, which includes nearly $700 billion in tax breaks.

The legislation extends more than 50 expiring tax cuts, with more than 20 becoming permanent, including increasing the maximum amount for small business expensing under IRS section 179 to $500,000.  This would be reduced if the cost of section 179 property placed in service exceeds $2 Million.

The new permanent Section 179 expensing limit allows a business to take a current year deduction of the full purchase amount up to $500,000 for assets under $2 Million.


 

Posted: 12/18/2015

Increased Expensing Passes/Made Permanent

The Senate has now done its part and passed a year end budget deal that funds the U.S. government through September 2016, avoiding a shut down.  This was combined with a package of tax breaks providing much needed tax benefits to a broad spectrum of small businesses.  The bill now heads to the President for his signature, which the White House indicates he will sign.

The legislation extends more than 50 expiring tax cuts, with more than 20 becoming permanent, including increasing the maximum amount for small business expensing under IRS section 179 to $500,000.  This would be reduced if the cost of section 179 property placed in service exceeds $2 Million.

The new permanent Section 179 expensing limit allows a business to take a current year deduction of the full purchase amount up to $500,000 for assets under $2 Million.

Example Savings*

Original Equipment Cost:                  $500,000

New Potential Tax Savings:               $175,000

Final Equipment Cost:                       $325,000

  Cash Savings on

Equipment Purchase:                        $175,000

*Assuming a 35% tax qualifying purchase

This information does not constitute tax advice, please check with your tax advisor on how this applies to your business.


 

Posted: 12:18/15

$500,000 Expensing Limit One Step Closer

Today, the House of Representatives passed a $1.1 trillion dollar spending bill to keep government agencies open.

The bill now goes to the Senate, where it will be combined with a package of tax breaks which passed late yesterday afternoon, one of which is the permanent increase of the expensing limit of IRS Section 179. 

The Senate will then take up the combined package in a series of procedural steps and a final vote expected by early Friday (12/18/15) afternoon.

The White House has reported that President Barack Obama would sign the measure into law.



Posted: 12/17/15

THE SECTION 179 ROLLER COASTER MAY BE COMING TO AN END

“The House is set to vote this week on Speaker of the House, Paul Ryan’s sweeping $1.6 Trillion dollar budget deal.  If the current bill (H.R. 2029 Protecting America from Tax Hikes Act of 2015) passes, the yearly battle to get increased expensing limits under the IRS section 179 will finally be over.  The bill will permanently raise the limit to $500,000.

If the bill passes, it will not only increase expensing limits, but there are a number of other provisions that will be beneficial to MDNA Members and small businesses.” —MDNA Executive Vice President Mark J. Robinson

government

The current language in the bill reads:

SEC. 124. EXTENSION AND MODIFICATION OF INCREASED EXPENSING LIMITATIONS AND TREATMENT OF CERTAIN REAL PROPERTY AS SECTION 179 PROPERTY.

(a) Made permanent.—

(1) DOLLAR LIMITATION.—Section 179(b)(1) is amended by striking “shall not exceed—” and all that follows and inserting “shall not exceed $500,000.”.

(2) REDUCTION IN LIMITATION.—Section 179(b)(2) is amended by striking “exceeds—” and all that follows and inserting “exceeds $2,000,000.”.

Read the full bill here

government

The Section 179 Roller Coaster May Be Coming to an End

“The House is set to vote this week on Speaker of the House, Paul Ryan’s sweeping $1.6 Trillion dollar budget deal.  If the current bill (H.R. 2029 Protecting America from Tax Hikes Act of 2015) passes, the yearly battle to get increased expensing limits under the IRS section 179 will finally be over.  The bill will permanently raise the limit to $500,000.

If the bill passes, it will not only increase expensing limits, but there are a number of other provisions that will be beneficial to MDNA Members and small businesses.” —MDNA Executive Vice President Mark J. Robinson

government

The current language in the bill reads:

SEC. 124. EXTENSION AND MODIFICATION OF INCREASED EXPENSING LIMITATIONS AND TREATMENT OF CERTAIN REAL PROPERTY AS SECTION 179 PROPERTY.

(a) Made permanent.—

(1) DOLLAR LIMITATION.—Section 179(b)(1) is amended by striking “shall not exceed—” and all that follows and inserting “shall not exceed $500,000.”.

(2) REDUCTION IN LIMITATION.—Section 179(b)(2) is amended by striking “exceeds—” and all that follows and inserting “exceeds $2,000,000.”.

Read the full bill here

IMG_2420

MDNA Tri-Chapter Meets in Atlantic City—Meeting Re-CAP

On December 3rd MDNA’s Philadelphia, New York/New Jersey and New England Chapters hosted their annual Tri-Chapter meeting.  This year’s meeting took place at the Borgata in Atlantic City, New Jersey.

IMG_2418 IMG_2419 IMG_2420

IMG_2423

 

 

 

 

 

 

 

 

 

 

 

Here’s what some of the MDNA members who attended had to say about this year’s programming….

“I’ve been attending meetings for the past two years now on behalf of zac Smith absolute machineryAbsolute Machinery, and each meeting seems to one-up the last. As a member of the New England chapter, it is always nice to venture out and meet members from other chapters, and Thursday night in Atlantic City at the Borgata Casino and Hotel was another great example. As a younger member, it is always nice to meet members from different chapters and from a networking standpoint, there is nothing better than the MDNA.

At the Tri-Chapter (NY, Philly & NE) meeting, there was a great “Price is Right” themed icebreaker that peaked everyone’s interest, and kept the mood light and exciting. Terry Lashin also spoke for a while about a very interesting and relevant topic; international business. He spoke on a few points from freight forwarding, to cargo insurance, international business ethics and how to stay away from bad deals. Overall he hit some very key points that I believe helped raise awareness of not only the benefits, but also what to be on the lookout for when conducting business overseas for everyone in attendance.

Regardless of what the topic is at each MDNA meeting, you always walk out of each meeting learning something new that pertains to your industry, and with new contacts that you now have the opportunity to conduct business with, and in the end, make money. Whether it’s sharing leads that you come across in your industry that you might not be as familiar with, or partnering up on a deal, the MDNA is a great network of great people.

I was also able to meet Richard Bass and Meghan McLellan of the AMEA, and look forward to earning my certification with the AMEA in the near future. With that said, you could also say the MDNA is a great tool for furthering your education and credibility in your industry.” -Zac Smith, Absolute Machinery Corporation

“Great meeting, learned a lot from the group sharing experiences on the pitfalls of theSTEVE Brenner Prime Machinery Import/Export side of the machinery business” —Steve Brenner, Prime Machinery, Inc

“I thought the tri chapter meeting at Atlantic city / Borgata hotel was very successful, out of all the MDNA meetings I have attended, this was one of the most influential and interactive meetings so far. There was a lot of Matt Schulman Grand Marshall Machineryengagement between other dealers, auctioneers, repair services etc.. It was a great opportunity to network with eachother and I enjoyed the “Ice Breaker” it was a great chance to see other dealers equipment and put everyone’s mind to the test.”Matthew Schulman, GRAND MARSHALL MACHINERY

“Last night’s tri-chapter meeting at The Borgata in Atlantic City had everything that one could possibly want in an MDNA meeting:  a fun and informative machinery valuation icebreaker for AMEA credit, instruction on how to close more deals by getting quick and easy financing for your WillCroppedcustomers via Direct Capital, valuable education and advice regarding importing, exporting, and establishing overseas business relationships, and maybe most importantly an opportunity to meet, mingle, and network with fellow MDNA members in a fun and unique environment. Meetings like this are exactly why North American Machinery Sales has been a member of the MDNA for many decades now.” — Will Putney, North American Machinery Sales

Special Thanks to Event Sponsors

Clark Machinery Sales, LLC

clarkmachinery_hi res logoDirect Capital Corp.  direct captital logo

Capital Recovery Group LLC

CRG logo low resThe Branford Group, LLC 

branford group logo

IMG_2330

Recap: Fall Southern Regional Chapter Tour

On November 12th, 2015 MDNA’s Southern Regional Chapter met for an action packed three day outing spanning parts of North & South Carolina featuring a golf outing, multiple machinery warehouse tours and even a football game and tailgate!golf nc

On day one the group kicked the event off with a fun golf outing courtesy of MDNA Member Firm, Asset Sales, Inc. at Rolling Hills Country Club located in Monroe, NC.

Day two’s agenda began with a warehouse tour at MDNA Member Firm R. P. Machine Enterprises, Inc. located in Statesville, NCR. P. Machine Enterprises, Inc. carries a large gear machine inventory as well as providing reconditioning services for all types of machinery.

(Pictured below) Richard Piselli, President of R.P. Machine Enterprises, Inc. leads guests around their facility demonstrating what goes on behind the scenes.

IMG_2330 IMG_2354 IMG_2293

After lunch the group headed over to MDNA Member Firm EDM Systems, LLC, located in Statesville, NC. EDM Systems specializes in servicing the EDM market in North America. The tour was led through EDM’s over 17, 000 square foot warehouse getting an insiders’ look at their expansive inventory of used EDM machines.

(Pictured below) Tim Harwood Developer of EDM Systems, leads the group tour.

IMG_2359 IMG_2361 IMG_2365

The final tour of the day was at MDNA Member Firm Champion Machinery Inc.’s  Fort Mill, location. Champion specializes in buying and selling CNC machine tools.

“Champion showed us a lot of machining centers & lathes with good insight into what is selling today” Jim Bowman, Locator Services

(Pictured below) Dale Danahey, President & Owner of Champion Machinery Inc. shows the group around the warehouse in Fort Mill, SC.

IMG_2382 IMG_2391 IMG_2375

After the final tours wrapped, the group met for dinner (sponsored by Direct Capital) and the MDNA Southern Regional Chapter meeting at Gusto’s Restaurant in Charlotte, NC.

Day three of this event was all about the FOOTBALL! Champion Machinery sponsored a pre-tailgate party before guests went to see the Florida Gators vs South Carolina Gamecocks. It was a tight game with the Gators 24 to 14 against the Gamecocks.

Check out the video (below) of the guys enjoying the opening ceremony before kick-off at the game! For even more photos from the event check out the online album on MDNA’s Facebook page!

A special thank you again to all who attended this event, to each of our tour hosts, R. P. Machine Enterprises, Inc. ,Champion MachineryEDM Systems, LLC and to each of the events sponsors, R. P. Machine Enterprises, Inc. Champion Machinery and Asset Sales, Inc. 

NAM Urges Congress To Make Small-Business Tax Breaks Permanent

NAM Urges Congress To Make Small-Business Tax Breaks Permanent

The Business Journals’ (12/1, Hoover) Washington bureau predicts lawmakers this month will raise, as they did in December 2014, the limit under current law for small businesses to take advantage of a tax break known as Section 179 expensing. However, “business groups want Congress to end the guessing game” on whether that and other tax provisions “will be available in a given year by making these tax breaks permanent.” The Business Journals quotes NAM Vice President of Tax and Domestic Economic Policy Dorothy Coleman as urging lawmakers in a letter to make the R&D credit permanent because it “spurs the investment … that leads to new product development and increased productivity.” Her letter “also touted the benefits of now-expired tax breaks such as bonus depreciation … and a ‘look-through’ rule” that lets American manufacturers “‘redeploy foreign earnings from active overseas business operations without triggering immediate U.S. tax,’” relieving those companies of a “competitive disadvantage” globally. Coleman added that by approving at least “a multiyear extension of these provisions,” Congress would provide “a critical bridge of predictability until comprehensive tax reform is enacted.”

Politico (11/30, Becker), in its “Morning Tax” roundup, asserts that business groups are seeking “fast” action by Congress on the provisions, “and they want their priorities permanent.” Politico quotes the NAM as writing, “Making permanent the pro-growth tax provisions important to manufacturers would eliminate the cycle of uncertainty associated with temporary tax extenders, bringing confidence back into investment decisions that fuel economic growth.”

In the association’s Shopfloor (12/1) blog, Director of Tax Policy Christina Crooks explains that due to congressional inaction on the issue so far, “the NAM is taking the fight to social media and is seeking [the public’s] help to push for a permanent or multi-year extension of the temporary tax provisions today, Tax Relief Tuesday.” She asks readers to contact their elected representatives in Washington and urge them to extend the expired provisions, either permanently or on “a multi-year basis.” Crooks also invites supporters to “join the conversation on social media by using #TaxReliefTuesday to urge Congress to act on tax extenders to promote #JobsandGrowth.”

2 Axis CNC retrofit Bridgeport Mill

T. J. SNOW Donates 2-Axis CNC Retrofit Bridgeport Mill to Benefit Austin D. Lucas Scholarship Fund

MDNA Member Firm, T. J. SNOW will donate 100% of the proceeds generated from the auction of a 2 – Axis CNC Retrofit Bridgeport Mill (this is a surplus mill from their own machine shop) to the  Austin D. Lucas Scholarship Fund. Tom Snow understands the benefits of giving back through the ADLSF and challenges all MDNA Members to be generous and creative in giving to this worthy cause.

The MDNA Austin D. Lucas Scholarship Fund awards grants for college tuition to children whose parents are employed by MDNA member fi­rms. The Fund is a non-profit tax-exempt corporation recognized as a charity by the U.S. Internal Revenue Service. Contributions to the Fund are fully tax deductible to the full amount allowed by law. Learn more here

T.J. Snow Machine Specs:

  • 2 – Axis CNC Retrofit Bridgeport Mill
  • Anilam 1100 M CNC control
  • Series 1 Mod J head, 9” x 48” table.
  • Head serial #J265957
  • Machine serial #244242
  • Drive serial # 2J-17515
  • Frame: 145TY-4
  • 3 Phase
  • 1.5 HP

The Auction:

The T. J. Snow Charity Auction Item is one of the lots in the current MDNA/Liquidity Services Inc. online auction.  The Auction is live now and closes Tuesday December 15th.

Don’t miss this great buying opportunity. View Sale Here  

The online auction is currently LIVE and closes:

Tuesday, December 15th. Don’t miss this great buying opportunity. View Sale Here  

mr snow donates machine for liquidity auction to benefit austin d lucas 2 Axis CNC retrofit Bridgeport Mill

The Industrial Manufacturing Equipment Market is a regularly scheduled online auction of Industrial Manufacturing Equipment from leading manufacturing companies. This month’s auction offers over 200 lots featuring:

* Klingelnberg Oerlikon S35 10-Axis CNC Gear Cutting Machine
* Dorries Scharmann Ecocut CNC Boring Mill
* Kuraki KBT-13PDZ 5.12″ Horizontal Boring Mill
* 2007 Makino V77 CNC Vertical Machining Center
* 2000 Bostomatic BD-12G Graphite CNC Vertical Machining Center
* Butler Elgamill CNC Milling Machine
* Mazak Quick Turn Nexus 250-II MSY CNC Turning Center
* TOS Celakovice 26″ x 144″ Geared Head Engine Lathe
* Elb Perfekt CNC Precision Profile Grinders
* Schaffer 66″ Vertical Spindle Rotary Surface Grinder
* Studer S-35 CNC Universal Cylindrical Grinder
* Strippit/LVD 150-Ton x 10′ 8-Axis CNC Press Brake
* Eirich DEV-29 Intensive Sand Mixer
* Large Quantity of CNC Machine Tools, Including: Horizontal/Vertical Machining Centers, Mills, Lathes & Punches, from Manufacturers Including: Enshu, Hardinge, Kitamura, Landis, Mazak, Mori Seiki & Okuma
* Quantity of Lathes, Including: Cincinnati, Mori Seiki, Niles, Royal & South Bend
* Large Quantity of Grinders, Including: OD/ID, Surface, Cylindrical, Universal, Centerless & Multi-Wheel
* Large Quantity Machine Shop Equipment, Including: Presses, Straighteners, Jig Mills, Bridgeport Vertical Mills, Radial Drills, Shapers, Saws, Welders, Hones, Shot Blast Machines, Blast Cabinets, Bar Feeders
* Large Quantity of Machine Accessories, Including: Chucks, Rotary Tables
* Plant Support & Miscellaneous Equipment, Including: Brown & Sharpe CMM, Robot, Extruder, Ovens, Pressure & Parts Washers, Paint Booths, Transformers, Generator, Liebert Cooler, Air Compressors & Dryers
Many more assets to be added

View Sale Here  

 

 

Mexico flag

Rising salaries prompt China to send factory jobs to Mexico

By Chelsea Adams via MultiBrief 

Mexico is accustomed to foreign direct investment. In 2014, Mexico received $22.6 SONY DSCbillion in foreign direct investment, with the U.S. being the single biggest contributor. The trend for Mexico is continuing as companies from around the globe look to the country for cheap labor and low production costs.

In recent months, several major American manufacturers have said they will move production facilities from U.S. soil to Mexico.Nabisco, for example, announced it will move 600 jobs from Chicago to Mexico, and automotive manufacturing continues to move south of the border en masse. Production of American vehicles in Mexico has increased from 9 percent to 19 percent of the industry total from 2004 to 2014.

But it’s not just American companies who look to Mexico for cheap labor. Lately, higher salaries in China are prompting Chinese manufacturers to turn to Mexico for a cheaper source of labor.

“When you have the wages in China doubling every few years, it changes the whole calculus,” Christopher Wilson, an economics scholar at the Mexico Institute of the Woodrow Wilson International Center for Scholars in Washington, told The New York Times. “Mexico has become the most competitive place to manufacture goods for the North American market, for sure, and it’s also become the most cost-competitive place to manufacture some goods for all over the world.”

In October, the state-owned China Communications Construction Company (CCCC) announced it would build an industrial park in Mexico. Depending on how the project unfolds, the project could represent one of the largest Chinese investments in Mexico.

The plan calls for the development of a 1,235-acre site in the western Mexican state of Jalisco. The state government would pay for half the land, and the Chinese would foot the bill for the other half of the land as well as the entire development of the park.

The types of manufacturing companies the park would house will be determined following a six-month feasibility study. Chinese officials will make two trips to Mexico to determine what types of manufacturers could locate there.

To this point, Chinese foreign direct investment in Mexico has been less than 0.1 percent of Mexico’s total. Chinese investment of $380 million was less than that of Ireland, Puerto Rico and Taiwan.

However, rising wages in China have prompted the country to look for more attractive options elsewhere in the world where wages are lower for similar work. A decade ago, China would not have identified Mexico as a potential spot for relocation.

In 2000, Mexican manufacturing workers earned nearly 60 percent more than similar Chinese workers, according to the Boston Consulting Group. Today, Mexican workers earn 11 percent less than their Chinese counterparts.

“Mexico has continued to stay more productive than China per worker,” said Justin Rose with Boston Consulting Group in Chicago. “Sometime in 2011 or 2012, from a labor-cost perspective, it became cheaper to put manufacturing capacity in Mexico than in China.”

Other factors prompting China’s interest in Mexico include a weak peso compared to the Chinese yen, proximity to the U.S. and lower energy costs in Mexico.

About the Author

Chelsea Adams

Chelsea Adams is a former newspaper journalist who made the leap to healthcare public relations and marketing where she worked for a decade. Chelsea has a bachelor’s of social science and statistics in mass communications and a master’s of business administration. She is a full-time freelance writer based in the Midwest.