All posts by admin

econom 71515


AN UPDATE FOR 2015 & 2016

Weekly Economic Commentary

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

The market continues to expect that global gross domestic product (GDP) growth will accelerate in 2015, 2016, and 2017, aided by lower oil prices and stimulus from two of the three leading central banks in the world. The prospect for another year of decelerating growth in emerging markets remains a concern for some investors, who may still be waiting (in vain) for China to post 10–12% growth rates as it consistently did during the early to mid-2000s. The likelihood of rate hikes in the U.S. in late 2015 and the U.K. in early 2016 is also a potential growth headwind. Still, much stimulus remains in the system, and more is likely from the Bank of Japan (BOJ) and the European Central Bank (ECB), which may help bolster growth prospects in two key areas of the globe. Although China is unlikely to embark on quantitative easing (QE), Chinese authorities have recently enacted a series of targeted fiscal, monetary, and administrative actions aimed at stabilizing China’s economy in 2015 and beyond, and more such actions may follow.

The outlook for global growth matters to investors because it defines the ultimate pace of activity that creates value for countries, companies, and consumers.


econom 71515


The outlook for global growth matters to investors because it defines the ultimate pace of activity that creates value for countries, companies, and consumers. As investors begin to digest the S&P 500 earnings reports for the second quarter of 2015 (more than 40 S&P 500 companies will report second quarter results this week, with another 300 set to report in the final two weeks of July), we provide an update on how consensus estimates for economic growth for 2015 and 2016 — in the United States and worldwide — have evolved over the past few years, and how they have been impacted by Greece, China, oil prices, the stronger dollar, and Federal Reserve (Fed) expectations. We’ll also look at how global growth estimates are tracking for 2017.

In recent years markets have focused more on global GDP growth, whereas in the past, prospects for U.S. economic growth garnered the most attention from market participants. Why does global GDP growth matter?

Read the Full Report here: Economic Commentary 07132015

mauro young gunS

Young Guns: Meet Mauro Damino

MDNA’s next featured Young Gun is a travel-thirsty, Spanish-speaking machinery dealer who believes his family’s business, MDNA member firm, Tramar Industries, Inc. (based in Novi, MI) has a competitive advantage in the industry due to their Argentine beginnings.

mauro young gunS

Mauro says “Our family moved from Argentina to Michigan in 1990, and my father had always worked with machinery in Argentina. When we moved here he started to make a living exporting machinery back to Argentina. From there we expanded to opening two warehouses in Mexico.”

Tramar Industries specializes in CNC machinery like many MDNA dealers, but the thing that sets them apart is their connection to the South American market. Tramar’s newest facility, located in Mexico, recently became a member of the MDNA in April of 2015. Tramar transports, finances, installs, and repairs machinery.

mauro and father EDIT
Mauro and Father Cesar

“With all three Daminos being fluent in Spanish, we do a lot of business in Mexico and South America and are very experienced in importing/exporting machinery,” adds Mauro.

Mauro did not always dream of working in machinery, but his family’s business and father, Cesar Damino, beckoned. And now, after 14 years of working in the industry together, he says

“We’ve made it work and have fun doing it! My mom comes in every once in a while to make sure we’re all getting along!”

Mauro has four major loves away from the “biz” that keep him occupied. First, there’s the upcoming wedding this October to his beautiful fiancé Alexis. The couple is planning to be wed beach-side in Mexico.

A destination wedding helps to quench Mauro’s other thirst for life, which is traveling.

Mauro and his finace
Mauro with Alexis

Mauro says This past summer, I went to Croatia and Greece, next up on the list is Cuba for our honeymoon.”

Mauro’s other love, or as he sees it, “his daughter,” is a black lab named Lucy who’s an office regular at Tramar Industries and takes her security position pretty seriously.Mauros dog Lucy

And as if Mauro wasn’t juggling enough already with work, international trips, a wedding, and a security officer doggy “daughter,” he’s taken on a new love for home renovating.

“For the past two years, we’ve been remodeling our current home in Royal Oak, Michigan, which has helped me realize my new-found love for renovating. Currently, I am building a front porch with my future father-in- law.”  

Mauro is currently serving as the MDNA Detroit/ Toledo Chapter Chairman.

“Since joining the MDNA, we have met so many great people with whom we have been able to do business. We deal with many of them on a day to day basis. The best part is that the more you put into the MDNA, the more you get out of it. The more you get involved, the more people you meet that you are able to do business with; more often than not, those business relationships become friendships.”

Here’s a sampling of Tramar Industries, Inc. current inventory:

CNC Lathes

CNC Machining Centers

Boring Mills


Turret Punches

Coordinate Measuring Machines

Press Brakes

Bridge/Gantry Mill Options

Machine Accessories/Chucks

CNC Lasers

Rotary Tables


Who are MDNA’s Young Guns? Learn More here

market 7.8.15


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

Weekly Market Commentary, July 10, 2015

Greece’s critical referendum took place this weekend and the Greek people resoundingly voted “no” — rejecting the latest bailout deal from creditors. The referendum result, which some interpreted as a vote to exit the Eurozone, throws Greece’s future in the currency union firmly in doubt. The unexpected result has led to a roughly 2% decline in the broad European indexes but only a modest decline in the S&P 500 (as of 3 p.m. ET today, July 6, 2015). The negative market reaction in Europe is not surprising, given polls heading into the weekend suggested a vote for the bailout was more likely. The modest decline in the U.S. may suggest markets are increasingly comfortable with the situation.

Here we try to answer the following questions:

1. Would a Greece exit (Grexit) from the Eurozone lead to contagion for
global markets?
2. Will this latest Greece crisis result in a Lehman moment?
3. Is a deal that keeps Greece in the Eurozone still even possible?
4. Does anticipated weakness in European equity markets present a
buying opportunity?

We address these questions here and provide our playbook for investing in
this environment.


We know the stock market does not like uncertainty, so the prospects of Greece’s exit, which is now potentially greater than a 50% probability, are unsettling. No country has ever left the Eurozone, and there is no blueprint for how to do so. As we list below, there are several reasons why we expect the risk of contagion to be manageable.

Little private ownership of Greek debt. More than 80% of all Greek government debt is held by government agencies and central banks. Given how little Greek debt is held by private investors, we believe the global financial system should be able to manage prospects of Greece defaulting on additional obligations (the next payment is 3.5 billion euros due to the European Central Bank [ECB] on July 20). Derivatives…

Given how little Greek debt is held by private investors, we believe the global financial system should be able to manage prospects of Greece defaulting on additional obligations.

exposure tied to Greek default cannot be precisely measured; however, we know banks are much better capitalized than they were when the Greek debt crisis bubbled over in 2012, and the data we do have for the banks suggest exposure is limited.

Bold ECB. The ECB’s willingness to “do whatever it takes” to keep the Eurozone together, and its aggressive bond buying program — which it can accelerate — suggest that it will step in to stem any signs of contagion. Should Greece’s problems remain simply Greece’s problems, the Greek crisis will be contained. Regardless of the path Greece takes, we expect the ECB could be very aggressive to ensure that markets beyond Greece continue to function as normally as possible.

Improved European economic backdrop. The European economy has been strengthening. European exporters, particularly Germany, have benefited from the..

Read the full Market Report here: Market Commentary 07062015

market 7.8.15

Weekly Economic Commentary image


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

Weekly Economic Commentary, 7/9/2015Weekly Economic Commentary image

The “no” vote in the Greek referendum on July 5, 2015, will potentially raise the level of economic and financial market volatility in the coming weeks as global investors assess the market and economic risks associated with an increasingly likely Greek exit (Grexit) from the Eurozone and from the Eurozone’s common currency, the euro. We don’t view the potential Grexit as another “Lehman moment”; there is relatively little in the way of derivatives tied to Greek debt, and the vast majority of Greece’s debt itself is owned by supranational entities like the European Central Bank (ECB) and the International Monetary Fund (IMF), and not — as was the case with Lehman — by private investors. However, the next several weeks and months may see increased financial market and economic volatility in the Eurozone and across the globe.

From the perspective of the U.S. economy, the uncertainty surrounding the possibility of a Grexit may lead to:

  • Slower global economic growth, which, at the margin, may hurt U.S. export growth
  • ƒƒA later liftoff for the Federal Reserve (Fed); and once hikes do begin, a shallower path for rates
  • A stronger U.S. dollar for longer, as the ECB will likely speed up its quantitative easing (QE) program
  • ƒƒAn increase in economic and market uncertainty in the U.S., which could, in turn, lead to modestly slower growth

The potential for a Grexit comes at a time when the Eurozone’s once-fractured financial transmission mechanism is on the mend, and as the Eurozone economy — aided by lowered expectations and a weaker currency — is accelerating and on track to add to global growth in 2015. Now, regardless of whether Greece stays or goes, the Eurozone’s recovery is threatened by lower consumer and business confidence in the Eurozone and a disruption in, but not the end of, the improvement in the Eurozone’s financial transmission mechanism, which has been healing for more than six months now. Although the financial system disruptions of a Grexit will likely be met by strong action from the ECB, the longer the uncertainty around Greece’s fate lasts, the greater the potential impact on the European and global economies. The net result could be a lower growth path for Eurozone and the globe. The Federal Open Market Committee (FOMC) and Fed Chair Yellen — who is slated to deliver a speech on Friday, July 10, 2015 — will be watching Greece closely. For now, our view remains that the Fed is on track to hike rates for the first time in this cycle in late 2015; but the longer the uncertainty around Greece lingers, …Read the Full Report here: Economic Commentary 07062015


What Makes You Proud to be American?


On this Independence Day, commonly known as the Fourth of July where the United States commemorates the adoption of the Declaration of Independence, declaring our independence we are PROUD to be Americans. We are Proud for the rights we have and everything that we have worked so hard for as a nation.


Here are just a few things that make us PROUD to be AMERICAN:

Freedom of speech

Freedom of religion

The right to own private property

The right to bear arms

Freedom to live or travel anywhere in our nation

Freedom to work at any job for which we can qualify

Freedom to marry and raise a family

Freedom to receive a free education in good public schools

Freedom to join a political party, a union, and other legal groups

Kevin Brewster presenting a New Membership plaque

New England Chapter Rallies Excitement In Members

MDNA’s New England Chapter has been targeting members of other chapters to attend IMG_8532their meetings with the objective to make more “deals” together. On June 18th they met with MDNA members from across the USA to kick things off with a tour of member firm Gold Machinery Group followed by dinner at Via Roma Italian Restaurant, where the meeting focused on doing more business together!

Read first-hand what guests had to say about this incredibly well-attended meeting and why it’s worth it to their business to attend these MDNA chapter meeting & events.


This was the first time I, along with my wife Erika in tow, had ever attended ayoder MDNA New England chapter meeting.  All I can say is my experience could not have been better.   Starting with the warehouse tour of Gold Machinery, who was one of the sponsors, it was a great time with the fellowship of MANY of the chapter members.  It is always nice putting a face with someone whom your only contact has been via phone or the keyboard. From Gold Machinery we went to Via Roma Restaurant where the fellowship continued during dinner with everyone introducing themselves, giving some of their highlights and networking.  I would like to thank Pedowitz Machinery Movers for their sponsorship of the event.  All in all it was truly a great event thanks to the efforts of Kevin and Julie Brewster.   If you ever get the chance to visit another MDNA chapter meeting it can help not only in business but also in the personal relationships you get with other members.  – Terry Yoder, Yoder Machinery Co.

“My wife, Helen, and I had a great time at the New England MDNA meeting held in Providence, RI!  Gold Machinery rolled out the red carpet for

SONY DSCeveryone, and the laser engraved demo/give away was a great idea and very fun.

I was blown away by the meeting run by Chairman Kevin Brewster.  His presentation was super and his involvement of visitors (of which there were many) was great.  And the content he included was applicable and appreciated.  What a pleasure to travel to another chapter, meet dealers I have spoken with for years but never met, and come home with a pocket full of leads.” – Troy Clark, CEA, Clark Machinery Sales, LLC

I found the meeting to be very informative as well as dynamic….very well attended.  It appears the NE Chapter is an active one!  We are already working on a deal as a direct result of our attendance.  Very pleased to have attended. – Pat Ryan, Ryan Machine Company 

jconroy crop“I don’t recall ever having so many dealers from other chapters as we did at our last New England Chapter meeting. We had people from Baltimore, Toledo, Philadelphia, New York and California. It was a great networking opportunity as well as a great chance to meet some new faces.” – John Conroy, CEA, Machinery International Corporation


“After a long absence from attending our local New England MDNA chapter meetings, I am impressed with New England Chapter Chairman, Kevin Brewster and his wife Julie’s enthusiasm and energy that they bring to our organization.  They have encouraged all of our members to attend the meetings in order to enhance our networking connections and to ‘make money together.’  It is also refreshing that Kevin extends an invitation to other MDNA chapters to attend our meetings.  I had the opportunity to meet with many names in the industry that I have seen in advertising venues and have now put a face to the names and establish a real contact.  Kevin has a well-planned agenda for the meetings that includes updates to our chapter as well as National. He also aligns a guest speaker with interests to our members such as Direct Capital Financing opportunities and Andy and AJ Conte from Pedowitz Machinery Movers with their capabilities. Finally, the members have an opportunity to introduce themselves and talk a little about their companies. Thank you Kevin and Julie for the tireless energy you put into this organization.” – Paul Gaffney, Industrial Surplus, Inc.

“Thank you very much for putting together one of the best and well Ross Finn cropattended MDNA meetings.  It was great to be back at Gold Machinery’s warehouse to see all the equipment he offers for sale.  The dinner meeting was perfect and I was glad that all those in attendance got to tell a little MDNA history and share a brief introduction of their company.  Kudos to you and Julie for getting a few out of town guests to come as well.  Lastly, thanks to Pedowitz Machinery Movers for sponsoring this event.” – Ross Finn, Joseph Finn Co. Inc.

nate smith testimonial absolute machinery“Great meeting and thanks for pulling this one off- nice job! The boys had fun and appreciated the networking!” – Nathan Smith, CEA, Absolute Machinery Corporation


“Great meeting last Thursday. It was a Paul Prez Head Shot ex prez finalreal treat for everyone to visit Gold Machinery!” – Paul Lashin,CEA, Prestige Equipment Corp.

“The recent MDNA New England chapter meeting was another success. Kevin and the rest of the officers are doing a great job of generating interest in chapter activities, not just from New England but neighboring chapters as well. It is a welcome opportunity to meet face to face the people I have done business with for many years.” – Marc D. Mazzalupo, ASA, CEA, The Branford Group, LLC


“I want to thank you for coordinating the MDNA New England Chapter meeting on June 18th.  Although it was only my second meeting, my first as an MDNA member, I was made to feel welcome by all of the members!  It was great to catch up with old business partners, some of whom I have not seen in months, and in some cases years.  The plant tour prior to dinner was fantastic…many thanks to David Gold for hosting that.  I was amazed by the ‘out of town’ members in attendance, coming in from California, Maryland, Ohio, Pennsylvania and New York.  It was great to network with these members.  Looking forward to future meetings!” – Tom Lowkes, Fabricating & Production Machinery, Inc.

Kevin Brewster presenting new membership plaque to Tom Lowkes, Fabricating & Production Machinery, Inc.
Kevin Brewster presenting new membership plaque to Tom Lowkes, Fabricating & Production Machinery, Inc.

“Great and lively meeting.  Made some new contacts and renewed old ones from out of town.  Well worth the time to attend.” – John Bouley, Furnace Brokers Inc.

“Thanks for putting the effort in to hopefully bring back the interactive benefits that have always existed.”- Thomas Gagliardi, Jr., Thomas Industries, Inc.

“Awesome MDNA New England chapter meeting in Rhode Island…A very well attended meeting with MDNA officers and included members from California, Philadelphia, New York ,Conneticut, Massachusetts..”- David Gold, CEA, Gold Machinery Group

Adam Herman with David Gold
Adam Herman with David Gold

“I had a productive time at the MDNA New England Chapter meeting hosted by Kevin Brewster, On Target Machine Brokers.  It started off by taking a tour of Gold Machinery and meeting David Gold – an impressive operation!  Dinner followed in Providence where I was able to personally meet and network with some of the participants that listed assets into our MDNA/Liquidity Services/GoIndustry DoveBid sale.  I had the chance to speak about our partnership.  The meeting was well organized, people were friendly, and I am glad I had the opportunity to attend.” – James Spencer, Liquidity Services



Young Guns: From Hollywood to Machinery- Chuck Radtke

MDNA’s next Young Gun first came onto the machinery scene 5 years ago after leaving Hollywood and the movie production industry behind to start a family.  Chuck Radtke, now with Wisconsin Metalworking Machinery, Inc., reminiscences on his former life…

“I worked in Hollywood on several live action feature films on the production side.  My first job in LA was on the set of the original SAW movie. It really wasn’t that scary… with the lights on.  Then I got into more family friendly movies by working for Disney on films like: Princess Diaries II, Sky High, and Race to Witch Mountain.”    


We know what you must be thinking…”Why would he leave behind that exciting life for working in the machinery industry?” Chuck had other dreams, ones that many of you may relate to. It all started with a young woman named Amy, who he met in college at the University of Wisconsin. Shortly after graduating the pair moved to LA to pursue their post college dreams. Fast forward seven years later, Chuck and Amy get married and they come to the realization that LA, (far from other family) is not where they want to raise their family. So they find themselves moving back to Wisconsin.

Lucky for Chuck his beautiful new bride Amy happened to be the daughter of MDNA Past President Joseph Kraemer (JR) of Wisconsin Metalworking Machinery.

“Amy’s job allowed her to work from home and thankfully JR offered me a position at Wisconsin Metalworking Machinery.

I initially started working on our website, producing videos, and revamping our online marketing strategy.  Then I started to dabble in sales, answering the phone when nobody was paying attention and trying to sell a machine.  Now, 5 years in, I’m doing sales full time and still trying to sell a machine.” – says Chuck


Chuck’s background in video production and marketing has made him a huge asset to the growth of Wisconsin Metalworking Machinery. He is now producing all of the videos.

He says “We’ve found that they are an invaluable way to portray the condition of the machine, and one of the biggest selling tools besides having a customer come in and inspect the machine in person.  Many times a customer cannot travel to inspect, or it is too cost prohibitive.  I’ve sold several machines to foreign buyers simply by answering their questions with a string of videos.”

Chuck’s editing software of choice is Final Cut Pro, and his preferred avenue for distribution is YouTube. He uses the Adobe Creative Suite for his photo editing.

Chuck Editing_with_Final_Cut (00000003)

Chuck says “I’m constantly critiquing our advertising options on all the different equipment websites, mass email communications, SEO of our website, and will use almost every Google tracking website for monitoring.  I also help facilitate our website’s interaction with online Locator (CIMS.)”

Wisconsin Metalworking Machinery recently celebrated their 30th year in business.  WMM is one of the largest stocking dealers of used metalworking machine tools in the country.  They have over 300 machine tools in their 50,000 square foot warehouse in Waukesha, WI.  They specialize in used metalworking equipment, about 1/3 of inventory consists of fabrication (press brakes, shears, rolls) 1/3 CNC chip making, and 1/3 miscellaneous metalworking equipment.

Today, Chuck and Amy are the proud parents of 2 young children. They live in Hartland, Wisconsin, just 7 minutes away from grandparents, JR and Debbie.  Chuck’s passion outside of work is baseball. Chuck plays softball in several leagues, including one with Amy on the local Co-Ed team: “WMMSC”  – Wisconsin Metalworking Machinery Softball Club.

Family_photo Chuck

Chuck adds “I pretend to golf, I’m good enough to be dangerous on the course, I hit my driver far and crooked, as anyone at past MDNA golf outings can attest.

Chuck is currently serving the MDNA Milwaukee / Minneapolis Chapter as the Treasurer and Secretary.

Here’s a sampling of Wisconsin Metalworking Machinery, Inc’s inventory:


Who are MDNA’s Young Guns? Learn More here


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



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.


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:

What is TPA & Why is it important to me?

6815 market


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.

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

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