Category Archives: Newsroom

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Trade Promotion Authority, Government Update

Washington, D.C. – Government Update –Friday, June 12, 2015, our elected officials uscapitol-washingtondc-picture1are preparing to vote on the Trade Promotion Authority Act of 2015 (TPA) and the Trade Adjustment Assistance Act (TAA) of 2015.   Machinery Dealers National Association (MDNA) association partner and voice in Washington, NAM (National Association of Manufacturing) is calling for passage of TPA and TAA.

“The House of Representatives now faces a simple decision: vote in support of TPA and expand opportunities for manufacturers to sell our products overseas, increase global competitiveness and fuel our ability to grow and create jobs, or vote to keep manufacturers on the sidelines and at a global disadvantage. A vote for TPA is a vote to support the 12 million men and women working in manufacturing in the United States.”– Joint statement from NAM President and CEO Jay Timmons and NAM Vice Chair of International Economic Affairs Policy and Emerson Chairman and CEO David Farr.

Hear NAM President and CEO Jay Timmons’ appeal here.   

In support of these measures NAM recommends calling your representative now at: 202-224-3121

Background:

TPA

The fast track negotiating authority for trade agreements is the authority of the President of the United States to negotiate international agreements that Congress can approve or disapprove but cannot amend or filibuster. Also called trade promotion authority (TPA) since 2002, fast track negotiating authority is a temporary and controversial power granted to the President by Congress. The authority was in effect from 1975 to 1994, pursuant to the Trade Act of 1974, and from 2002 to 2007 by the Trade Act of 2002. Although it expired for new agreements on July 1, 2007, it continued to apply to agreements already under negotiation until they were eventually passed into law in 2011. In 2012, the Obama administration began seeking renewal of the authority. Learn more here.

TAA

The Trade Adjustment Assistance Act of 2015 reauthorizes the Trade Adjustment Assistance (TAA) program through 2020 and renews the program’s 2009-2010 eligibility and benefit levels.  Trade Adjustment Assistance provides necessary assistance for workers who have lost their job due to trade. The Department of Labor (DOL) estimates that since 1975 over two million workers have relied on the TAA program to receive benefits to make ends meet and the training necessary to find new employment. Congress included a short term TAA extension in the omnibus bill last year, but the statutory authority for the program expires entirely at the end of this fiscal year. Learn more at: house.gov

What is TPA & Why is it important to me?

6815 market

ACA RULING COULD MAKE HEALTHCARE SECTOR MORE AFFORDABLE

By Burt White Chief Investment Officer, LPL Financial
Jeffrey Buchbinder Market Strategist, LPL Financial

Weekly Market Commentary, Posted June 12, 2015

The upcoming Supreme Court decision regarding premium subsidies for the Affordable Care Act (ACA, aka Obamacare) may create a buying opportunity for the healthcare sector. We believe the odds favor the status quo (all subsidies legal regardless of the state), meaning that any selling pressure related to the risk of losing insured patients may present a buying opportunity. However, a court ruling in favor of the challenger (against the administration), which would likely be met with even more selling pressure and remains a possibility, may create an even better entry point for the sector.

CONTEXT
Later this month, in the case of King v. Burwell, the Supreme Court will rule on whether ACA premium subsidies (via tax credits) are legal for individuals with Obamacare policies in states that chose to use federal health insurance exchanges rather than setting up their own state-run exchanges. When the law was written and subsequently passed in 2010, the hope in Washington was that all states would set up their own insurance exchanges for their citizens. Were this achieved, it would have eliminated the question of whether any subsidies that made insurance premiums more affordable were legal. The law is quite clear about the legality of premium subsidies in states with exchanges. However, the law is ambiguous about states that opted not to set up exchanges, which is the crux of this case.6815 market

WHICH WAY WILL IT GO
Our sources in Washington see 60% odds of the status quo (a ruling in favor of the administration), while we believe, based on the points below, that the odds may
even be a bit higher. A favorable ruling for the administration could be based on three potential arguments:

1. The court may think the intent of the law and the broad context — including consideration for the conditions under which the law could reasonably function economically — are enough to essentially prove the IRS’s intention and uphold the status quo. The section of the law that allows for the federal government to set up an exchange if a state does not, points in this direction.

Get the Full Market Report Here: Market Commentary 06082015

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BEIGE BOOK: WINDOW ON MAIN STREET

By John J. Canally, Jr., CFA Chief Economic Strategist, LPL Financial

Weekly Economic Commentary, May 9, 2015

BEIGE BOOK SUGGESTS CONTINUED MODEST ECONOMIC GROWTH

The latest Beige Book suggests that the U.S. economy is still growing at a pace that is at or above its long-term trend, indicating that some of the “transitory factors” that held the U.S. economy back in the first quarter of 2015 have faded and that some upward pressure on wages is beginning to emerge. Overall, the Beige Book described the economy as expanding at a “modest or moderate” pace in most districts. In general, optimism regarding the economic outlook far outweighed pessimism throughout the Beige Book, as it has for the past two years or so.

The Beige Book is a qualitative assessment of the U.S. economy and each of the 12 Federal Reserve (Fed) districts. We believe the Beige Book is best interpreted quantitatively by measuring how the descriptors change over time. The latest edition of the Fed’s Beige Book was released Wednesday, June 3, 2015, ahead of the June 16 – 17, 2015, Federal Open Market Committee (FOMC) meeting. The qualitative inputs for the June 2015 Beige Book were collected from early April 2015 through May 22, 2015; thus, they captured a period of:

  • ƒƒIncreasing market concern around Greece
  • A disappointing bounce back in the U.S. economic data for March and April
    following the disruptions of the first quarter (port strike, bad weather, strong dollar)
  • ƒƒFalling U.S. dollar (decline began in mid-April) that remains elevated relative to
    year ago levels
  • Some stability in oil prices
  • ƒƒImproving economic activity in the Eurozone and Japan, but ongoing concern over
    weakness in China

Read the Full Report here: Economic Commentary 06082015

online marketing whitepaper

Marketing How-To’s for Equipment Dealers

Dealers how frustrated do you get trying to keep up with the ever-changing marketing trends in order to compete? We found these excellent whitepapers (specifically designed for equipment dealers) provided by EDA (Randall-Reilly) and we recommend you take a look!online marketing whitepaper

The first is titled, Marketing 101: An Overview

Dealer Marketing 360 Series | 1 of 6: via EDA

Inside they go over:

  • Achieving Efficiency and ROI with Direct Marketing
  • A Practical Overview of CRM Systems
  • Market Analysis: Who’s Buying What?
  • Uncovering Opportunities and Getting off the Cowpath
  • Making Trade Shows and Expositions Work

To download EDA’S whitepaper visit their site here: http://www.edadata.com/resources/whitepapers/dealer-marketing-360-marketing-101-an-overview/download/

It’s completely free to download they just ask you for a little bit of basic information before you can access it.

This next whitepaper covers the steps to maximize your online presence and we thought it was on point!

It’s titled, Getting Started with eMarketing: Maximizing Your Online Presence and Marketing ROI

Dealer Marketing 360 Series | 6 of 6: via EDAeda whitepaper 1

In this whitepaper they start with a broad overview of the basics: your dealership’s website, email marketing campaigns, and product video that you’re providing to your customers and prospects. Then they drill down on each of these (below) and show some best practices later in this white paper.

  • Search Engine Optimization (SEO)
  • Search Engine Marketing (SEM)
  • Content Marketing
  • Social Media
  • Marketing Automation

To download EDA’S whitepaper visit their site here: http://www.edadata.com/resources/whitepapers/dealer-marketing-360-getting-started-with-emarketing/download/

Again it’s completely free to download they just ask you for a little bit of basic information before you can access it.

Bill Right Forest

Young Guns of MDNA, Introducing Bill Melvin Jr.

Bill Melvin Jr. owner of MDNA member firm, Liquid Asset Partners, LLC is a family man Bill Right Forestwith three young children and baby number four due this coming September. When asked if this was a family business Bill repliesYes, I have grown up in the business helping move around equipment and stirring the pot since I was in diapers.” Bill is second generation in this family business. He grew up in the liquidation industry, assisting his father Bill Sr. in liquidation projects throughout grade school, high school and college.

Bill has given numerous professional testimonies to the liquidation value of assets in U.S. Federal Courts, as well as led the liquidation of many Fortune 500 companies’ assets. His education includes: B.A. Economics/Law – WMU, Certified Professional Auctioneer and AMEA Certified Equipment Appraiser. A member of the National Auctioneers Association, Turnaround Management Association, Commercial Finance Association, American Bankruptcy Institute and Machinery Dealers National Association (MDNA)

Bill screen shot news STORY

Bill says his “work ethic and conservative decision making skills help him maximize liquidation projects across the USA.” 

Bill has built great contacts in retail, industrial, wholesale, private equity and financial arenas that are a major source of Liquid Asset Partner’s growth.

Since 1975, the Melvin management team has been working with banks, retailers, bankruptcy courts, trustees, manufacturers, and lenders. They make cash purchases or run commission based disposition sales in retail, industrial, wholesale, motorsports and equipment. With over 100 liquidators nationwide, they say they are able to be at any location within 48 hours’ notice.

AIH17_FR_C_^_FRIDAY

 “We work across North America, but for MDNA guys we set ourselves apart as the ‘inventory guys.’ We handle large wholesale inventories and factories that have large inventories as a main ‘part of the deal.’ We are the main liquidator of Distribution Centers and Retail Equipment in North America handling Circuit City, Hudson’s Bay Company, Walmart and many more.” – Bill

Bill Melvin and wife
Bill and Amy

When Bill is not working he spends most of his days chasing his wife of ten years, and hanging with the kiddos.  His favorite hobbies include old cars, motorcycles, triathlons, waterskiing, snow skiing, hunting, biking, running, and golf.

 

Check out Bill in the news:

https://www.youtube.com/watch?v=uMNHZdknPXU#t=57

http://woodtv.com/2014/09/05/lamar-construction-to-auction-off-assets/

http://www.liquidap.com/wp-content/uploads/2014/10/Real-Estate-Channel-CC.pdf


 

Who are MDNA’s Young Guns? Learn More here


Check out some of the current projects at Liquid Asset Partners, LLC here  

Pawtucket Times

U.S. Secretary of Labor Tom Perez visits MDNA Member Firm

David Gold from MDNA member firm Gold Machinery Group gave a tour of his facilities

Pawtucket Times
Pawtucket Times

to U.S.  Labor Secretary Thomas Perez, U.S. Rep David Cicilline, Senator Jack Reed, Congressman Jim Langevin, State Senator Gayle GoldinRI Department of Labor and Training Director Scott Jensen, Rhode Island AFL-CIO President George Nee and District 1199 SEIU Executive Vice President Patrick Quinn on Friday, April 24, 2014. 

These representatives visited both of Gold’s facilities,  Gold International Machinery and LNA Laser Technology as part of “a roundtable discussion on paid leave” hosted by Representative David Cicilline. 

Gold , US SECRY STATE - LNA LASER

MDNA member and Gold Machinery Group President, David Gold spoke to the group from the point of view of a successful business owner.

“To me, there’s business, but there’s also community, and quality of life. I believe that the business community is critical for creating a quality of life for all workers.”- Gold

Read the full story published on RI Future.org here

DANIEL GOLD WITH  US  LABOR SECRETARY -TOM PEREZ
D. GOLD WITH US LABOR SECRETARY -TOM PEREZ
LiquidityLogo

Liquidity Services MDNA Online Auction Partner

MDNA has partnered with Liquidity Services to provide a free online auction program LiquidityLogoexclusively for MDNA members.

You list your own assets, set reserves; we market the sale, invoice and collect the proceeds and send you a check/wire. Best of all, there is no charge to members who choose to participate!

There will be (3) three sales this year

Sale #1:   Closing on 6/18/15

Sale #2:   Closing on 9/24/15

Sale #3:   Closing on 12/15/15

Each event will be a combination of assets from MDNA members along with high quality inventory from our corporate clients including Caterpillar, Eaton, Honeywell, ITW, Lockheed Martin, Parker Hannifin, Intel, and many more.

Timeline for the 3rd sale is as follows:

  • Member assets submission deadline November 20th (Start listing now, they will not post to sale until late November)
  • Catalog review week of November 23rd
  • Sale go live date November 30th (No Assets can be listed or pulled after this date)
  • Inspection by appointment up until sale close
  • Sale Close Date December 15th
  • Buyer Payment collection by LSI in the following 72 hours
  • Buyer asset removal by appointment December 18th – January 9th
  • Ship confirm notification received before January 1st will be paid to the member week of January 15th
  • Ship confirm received before January 15th will be paid by January 30th

Be a part of this tremendous sale which will now be a quarterly sale event.  Not to be missed by both buyers and sellers.

The online auctions will be regularly scheduled events. Bidding for the MDNA equipment in the auction opens on the Liquidity Services’ online marketplace  www.Go-Dove.com. Please visit the auction webpage for more details and to sign up for the event  http://www.go-dove.com/en/events?cmd=details&event=501415

For additional details on these sales and to begin listing your own assets in the upcoming events, you can contact:

Jim Spencer, Liquidity Services (248) 508-1684 james.spencer@liquidityservices.com

Questions regarding this great new MDNA member benefit and other valuable benefits can be directed to:

Mark Robinson, MDNA (703)-836-9300 office@mdna.org

Job Openings and
Labor Turnover Survey (JOLTS) report for March 2015.

WATCHING WAGES

By John J. Canally, Jr., CFA Chief Economic Strategist, LPL Financial

Weekly Economic Commentary, May 13, 2015

The April 2015 Employment Situation report (released on Friday, May 8, 2015) indicated that the labor market bounced back in April 2015 after a difficult March, but that wages — as measured by average hourly earnings — remained tepid, up just 2.3% from a year ago, still well below the 4%+ wage gains seen just prior to the 2007 – 09 Great Recession. Despite the solid but not spectacular April employment report, wage growth — or lack thereof — likely remains a concern for Federal Reserve (Fed) policymakers as they continue to debate when they will begin raising rates in this cycle. Our view remains that the Fed may begin to hike rates in late 2015. The next Federal Open Market Committee (FOMC) meeting is June 16 – 17, 2015.

Despite the tepid wage growth economy-wide, signs that wage pressures may be building in segments of the economy have begun to appear in recent months, most recently in the latest Fed Beige Book, released in early April 2015, ahead of the April 28 – 29 FOMC meeting.

The April 2015 Beige Book noted:

Firms in many Districts, including Richmond, Atlanta, St. Louis, Kansas City, and Dallas, reported having difficulty finding skilled workers, especially in professional and business services and the IT sectors. The Richmond, Atlanta, and St. Louis Districts specifically noted an increasing incidence of voluntary turnover of employees.

This week, May 11 – 15, 2015, financial markets will digest the Job Openings and
Labor Turnover Survey (JOLTS) report for March 2015. Although often overlooked
by the financial markets, the JOLTS report contains several labor market indicators
that Fed Chair Janet Yellen says she and her colleagues on the FOMC are are watching
closely [Figure 1].

Despite the tepid wage growth economy-wide, signs that wage pressures may be building in segments of the economy have begun to appear in recent months.

WAGES IN FINANCIAL SERVICES, HEALTHCARE & MINING
LEADING THE WAY

As we wrote in our March 30, 2015, Weekly Economic Commentary, “March
Employment Report Preview,” a decisive upturn in wage inflation remains key to moving inflation and inflation expectations higher; and in the past several months…

Read the Full Report here: Economic Commentary 05112015

Job Openings and Labor Turnover Survey (JOLTS) report for March 2015.
Job Openings and
Labor Turnover Survey (JOLTS) report for March 2015.
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Re-Cap on MDNA’s 74th Annual Convention- Washington, D.C.

Looking to see what you missed at this year’s convention?  Get the presentation slides, video clips and photos in this Re-Cap of MDNA’s 74th Annual Convention (April 23rd-26th 2015) in Washington, D.C.

READ THE CONVENTION PRESS RELEASE HERE

Programming at Convention:

If you missed the Programming during convention and you are a member of MDNA you can download all of the slides at no charge at this link http://www.mdna.org/member-login/resources/ after you log onto the Member’s Only Back Office.

bb&t wealth logoBB&T Wealth with topics on: Business Transition Planning, Capital
Markets, Equipment Finance
Special Guest Speakers Included:
  • Lindsay Brooke Mannion, Assistant Vice President, Private Financial Advisor LMannion@BBandT.com ■ 770-785-2036
  • Duncan Moseley III, JD, LLM, Vice-President, Wealth Financial Planning Strategist Duncan.Moseley@BBandT.com ■ 404-504-3620
  • Scott Storey, Managing Director, Strategic Advisory Group SStorey@BBandTCM.com ■ 804-782-8731
  • Scott Lackovitch, Senior Vice President, National Sales & Marketing Manager SLackovitvh@BBandT.com ■ 410-427-1984
  • Brant Standridge, Regional President V BJStandridge@BBandT.com ■ 214-234-7730
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Lindsay Brooke Mannion, Duncan Moseley III, Scott Storey, Scott Lackovitch, Brant Standridge
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National Association of Manufacturers with topics on: Tax Legislative Update Spring 2015 Special Guest Speaker, Christina Crooks, Director, Tax Policy (NAM)

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Christina Crooks (NAM) with Mark Robinson, Executive Vice President, MDNA

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Export-Import Bank of the United States- Office of the Inspector General with topics export bankon: Trade Finance & Export Fraud Schemes: Protecting your Business 

Special Guest Speakers Included:

  • Mike McCarthy, Acting Inspector General; 202-565-3169, Mike.McCarthy@exim.gov
  • David Sutkus, Acting Assistant Inspector General for Investigations; 202-565-3921, David.Sutkus@exim.gov
  • REPORT FRAUD, WASTE, & ABUSE/ OIG HOTLINE/ 1-888-OIG-EXIM/ (1-888-644-3946) IGhotline@exim.gov
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Speakers: Mike McCarthy, David Sutkus, with MDNA President, Kim Khoury

Video Coverage from Convention

 

Photos from Convention

To see more photos from the MDNA 74th Annual Convention in Washington, D.C. #MDNAConvention visit our FB PAGE

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Sponsors from Convention

AMEA logo Final bb&t wealth logo
 BidSpotterHighRes  DCC-CIT_Logo new
 CAC logo  Harris_logo_NEW_2013 copy
locator
prest young guns text 1
chapter logos MDNA chapter logos MDNA
FL SALES TOP LOGO1 Machinery International Corp logo National Machinery Exchange logo

 

yoder logo Wismet-Logo-HI-RES (4) lee stevens logo
surplus record USD logo only 300 FPMLogo_HighRes_large (3) cwwood logo vec
FEDERAL EQUIPMENT LOGO-FA ai yeoman logo Universal
action-newlogo

 

 

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MDNA WELCOMES NEW PRESIDENT

FOR IMMEDIATE RELEASE , MAY 11, 2015

MACHINERY DEALERS NATIONAL ASSOCIATION WELCOMES NEW PRESIDENT at 74TH ANNUAL CONVENTION & BUSINESS MEETING

WASHINGTON, D.C. —– Kim Khoury of member firm Action Machinery, Inc. was elected as the Association’s second female president during MDNA’s 74th Annual Business Meeting & Convention held in Washington, D.C.’s Historic Renaissance Mayflower Hotel April 23-26, 2015.

Notable awards presented during the President’s Banquet included: The MDNA Lifetime Achievement Award going to the Association’s first ever female President (1999-2001) Jeannine Harris, of member firm Harris Machine Tools; The Earl Elman Distinguished Service Award was presented to Kristine Conroy, President of the Austin D. Lucas Scholarship Fund.

Special guest speakers during the convention’s programming included representatives from BB&T Wealth, speaking on Business Transition Planning, Capital Markets, Equipment Finance; National Association of Manufacturers (NAM) speaking on Tax Legislative Updates; and Export-Import Bank of the United States- The Office of Inspector General speaking on Trade Finance & Export Fraud Schemes: Protecting your Business.

The Austin D. Lucas Scholarship Fund raised $30,000 during this year’s convention through the annual Ray Roberts Raffle.

Convention Sponsors: Direct Capital Corp., Machinery International Corp., LOCATOR Services, Inc., Young Guns, Liquidity Services, F. L . Sales Inc., National Machinery Exchange, Inc., Surplus Record, BB&T Wealth, Harris Machine Tools, Inc., Charleston Annex Corp. / Asset Sales, Inc., Yoder Machinery Co., Wisconsin Metalworking Machinery, Inc., Bid Spotter, Inc., MDNA Chicago Chapter, AMEA, Prestige Equipment Corp., MDNA Philadelphia Chapter, Action Machinery Co. Inc., C. W. Wood Machinery Inc., Federal Equipment Div./PME Technologies Inc., F. P. Miller Co., Lee Stevens Machinery Inc., Universal Metalworking Equipment Inc., Yeoman Machinery Corporation, A&A Machinery Sales Inc., Clark Machinery Sales, LLC, Centra Corporation, Easton Machinery Inc., FH Machinery, Hildebrand Machinery Co. Inc., JBM Technologies Inc., Norman Machine Tool, Ltd., Quaker City Auctioneers Inc., Weiss Machine (MDNA Premier Vendor), Wm. F. Comly & Son, Inc.

TO SEE PHOTOS:  Visit GALLERY HERE

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FOR PRESS RELATED INQUIRIES: Jennifer Gray, Phone: 703.836.9300 Email: jgray@mdna.org


President's Banquet at the Mayflower Renaissance, DC
President’s Banquet at the Mayflower Renaissance, DC
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President’s Banquet- MDNA President, Kim Khoury, CEA, Action Machinery with father, Tom Khoury, Action Machinery
Kristine Conroy, Machinery International Corp., A. D. LUCAS SCHOLARSHIP FUND PRESIDENT receives The Distinguished Earl Elman Service Award at the 2015 MDNA Convention
Kristine Conroy, Machinery International Corp., A. D. LUCAS SCHOLARSHIP FUND PRESIDENT receives The Distinguished Earl Elman Service Award at the 2015 MDNA Convention
Jeannine Harris of MDNA member firm Harris Machine Tools, Inc. is awarded the MDNA Lifetime Achievement Award at the MDNA 74th Annual Convention 2015
Jeannine Harris of MDNA member firm Harris Machine Tools, Inc. is awarded the MDNA Lifetime Achievement Award at the MDNA 74th Annual Convention 2015