Category Archives: Newsroom

southern reg 5.18

Southern Regional Meeting RECAP

Thanks to our great host and sponsors of the Southern Regional May 2018 Chapter Meeting:
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Southern Fabricating Machinery Sales, Inc. – Host
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Direct Capital, A Division of CIT Bank, N.A. – Sponsor
Pearl Equipment Co- Friday Night Reception - Sponsor
Pearl Equipment Co- Friday Night Reception – Sponsor
Over 30 individuals from over ten MDNA Member firms attended the Southern Regional Chapter Meeting. Firms represented at meeting: AM Metalmaq, ABL Technology, EDM Systems, Great American, Hilco, Pearl Equipment, ReSell CNC, Southern Fab, Standard Industrial, Tiger Group.
Prospective Branch Member, Tiger Group’s, Wayne Hecht attended the meeting.
Meeting Overview and Topics of Interest:
  • Attendees reported that business is good in the Southern Region. Members in attendance report that machine sales and transactions have been strong for the first half of 2018.
  • Planning is underway for the SRC’s Fall meeting in conjunction with FABTECH- Atlanta. This will be a large scale chapter meeting and dinner event. All representatives from MDNA firms, from all chapters and Premier Vendors are welcome and encouraged to attend. Sponsorship and host opportunities are available, and going fast.

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mentoring

A Hand Up for the Next Generation!

Mentoring Makes a Difference

Ask any accomplished person to what they attribute their success and you’ll probably hear a story about someone who helped them become the person they are today. In Screen Shot 2018-05-16 at 11.05.42 AMfact, most highly successful people have a mentor (or mentors) who took the time to share their knowledge and experience. Mentorship can come in many forms; you may choose to mentor a child, a young adult, or a less experienced professional. But whatever the case, a mentor can offer a type of constructive guidance unlike that found in any other personal or professional relationship.

Acting as a mentor can be one of the most rewarding experiences you’ll have, both personally and professionally. At the heart of being a mentor is becoming a trusted advisor to your mentee and making yourself available to pass on your knowledge and experience. You’ll offer advice and support intended to help your mentee develop in their career and as a person.

Today’s workplace is changing rapidly and in just a few years Millennials­—people born between 1977 and 1997—will make up almost half of the global workforce. This generation thinks about work in a different way and views it as an integral part of their lives rather than something they “balance” their lives against. They seek work that is meaningful and fulfilling, and they can benefit enormously from the attention and support of a mentor who can guide them toward fulfilling their goal of professional success accompanied by meaning. Acting as a mentor to a such a young professional can allow you to not only participate in their success but contribute on a larger scale as well – to your business or to your community.

A mentor must believe in the person they support both personally and professionally. The best mentor/mentee relationships require vulnerability and honesty. For the relationship to be successful, the mentee has to be comfortable enough to let down their guard and share their insecurities. The best mentors speak not only of their successes, but their failures as well. As well as passing on knowledge, a mentor must strive to inspire. Inspiration is married to emotion, and a successful mentor will infuse knowledge with emotional weight.

While long-term mentoring relationships are a deeply satisfying way to make a significant difference in another person’s life, mentoring can also be short-term or even a one-off incident. Taking half an hour for a coffee with a college student to talk about career opportunities in your field is also a way of mentoring. In my business as a machinery dealer, I often take the time to share aspects of my experience that will be helpful to my customers.

If we as a community develop a mentoring mindset, the benefits will be enormous. As the adage goes, experience is the best teacher. We need to share our experience in a way that will benefit the younger generation, but we need to do this in a way that will not alienate them. Mentoring relationships are just that – relationships – and are based on the give and take of conversation. Mentoring can be a particularly effective way to transmit knowledge to new generations.

Everyone benefits from the mentoring mindset. Young people not only acquire knowledge and skills, but they gain confidence from the relationship itself. Knowing that someone you respect and admire believes in you and is invested in your success gives a powerful boost to your motivation and confidence. And for a mentor, watching a young person succeed with the knowledge that you have played a role in that success is deeply rewarding. Everyone has something valuable to share. If we all adopt the mentoring mindset, we can each play a small role in making the world a better place one person at a time.

Written by Kevin Brewster, AEA, President Brewster Machinery Sales Inc.

MDNA Chapter Leadership Chairman/ New England Chapter MDNA Chairman and KB- with bms logo[1] copyNational Board Representative/ Proud Member of the MDNA & AMEA

About the Author:  Kevin Brewster, AEA has a long and diverse background in manufacturing, and was a precision machinist and tool maker for more than 20 years. He has been the owner and president of Brewster Machinery Sales (www.brewstermachinery.com) for the past ten years. Kevin is chairman of the New England chapter of the Machinery Dealer’s National Association (MDNA), an MDNA national board representative, and an active member of the Association of Machinery and Equipment Appraisers (AMEA).

 

Welcoming Non-Members to Join Us at…

Now Welcoming Non-Members to Join One of Our 

Up-Coming Chapter Meetings! 

Dealers, The possibilities are endless when we come together…
Learn about how MDNA can benefit you!
Check out up-coming events/meetings near you here

Simply RSVP to the contact provided with the event or call the MDNA office at 800.872.7807 and let them know which event you’d like to attend.

–Start Making Money With Us–

Optional Broadway Shows

Hello Dolly cost – $99

Lion King cost – $119

Beautiful: The Carole King Musical – cost $89

To register for one of these go to the MDNA Convention Registration page

Beautiful – The Carole King Musical

broadway 1 downloadBeautiful is the word to describe this show that tells the inspiring true story of Carole King’s remarkable rise to stardom. Along the way, she made more than beautiful music, she wrote the soundtrack to a generation. Featuring a stunning array of beloved songs including “I Feel The Earth Move,” “One Fine Day,” “(You Make Me Feel Like) A Natural Woman,” “You’ve Got A Friend”, it is a moving story that will have you singing “Beautiful”!  Winner of two Tony Awards and a  Grammy Award.

Hello Dolly

broadway 2The superlatives reviews make this a must see musical comedy dream. An impeccable blend of spectacle and star power, this is classic broadway at its best! Dolly is the iconic Bernadette Peters, the most accomplished musical  actress of her generation. Audiences show their delight with thunderous applause and leave the theatre with an unforgettable experience. Winner of four Tony Awards this show has been described as a riotous delight!

Lion King

broadway 3Experience the stunning artistry, unforgettable music and the exhilarating choreography of Disney’s Lion King. With a pulsing spectacle driven by primal African rhythms, unforgettable tunes, including Elton John and Tim Rice’s Oscar-winning “Can You Feel the Love Tonight”, it is a jaw-dropping display of exotic African wildlife brought to life onstage. There are good reasons why The Lion King won a half-dozen Tony Awards. Intensely physical stage work and countless visual surprises hold your attention from start to finish.

government

Government Affairs: Huge Changes in the new “Tax Cuts and Jobs Act”

(Published on 1/11/18) Written by Craig L. Ward, MDNA Vice President and Government Affairs Committee Chairman.

Here’s the MDNA low-down on “An Act to Provide for Reconciliation Pursuant to Titles II and V of the Concurrent Resolution on the Budget for Fiscal Year 2018” (commonly known as the “Tax Cuts and Jobs Act”) and how it affects our used metalworking and capital equipment market.

As many of our longtime members know, the MDNA’s Government Affairs Committee has followed, reported on and lent its voice in support of any legislation that has a direct impact on our members and newly passed Tax Reform has a big impact.

Changes Effect both Bonus Depreciation and Section 179 Expensing.  Please remember these are two distinctly different processes for companies to handle the tax ramifications of investing in equipment purchases.

Bonus Depreciation – Previously Bonus Depreciation was not an option for purchasers of our used machinery and capital equipment because the law stipulated that the original use of the property had to begin with the taxpayer (meaning used property wouldn’t qualify for the bonus depreciation opportunity).

Under the new law, Section 168(k) was rewritten so that now the only requirement is that the property was not used by the taxpayer at any time prior to its acquisition, which expands bonus depreciation to used machinery and capital equipment, as well other qualifying property. The Act also enables purchasers of used machinery and capital equipment to take a first-year deduction for 100% of the cost basis for qualified property acquired and placed in service after Sept. 27, 2017, and before Jan. 1, 2023.  The law calls for reduction in the percentage that may be expensed for property placed in service after Dec. 31, 2022.

Section 179 Expensing – In lieu of taking bonus depreciation your customers can expense used machinery or capital equipment, placed in service in tax years beginning after Dec. 31, 2017, under Code Sec. 179 up to $1 million, and the phase-out threshold amount is increased to $2.5 million.  And for tax years beginning after 2018, these amounts will be indexed for inflation. This is double the previous limitation.

Blumberg Tax published an online “Tax Reform Road Map” that is available for free to anyone that signs up at their website.   It is by far one of the best “plain English” summaries on the web.

There are also notable changes that may impact you or your customers if you or they are a corporate taxpayer:

  • New corporate rate is a flat 21% effective 1/1/2018- any fiscal year taxpayers will need to prorate their tax rate for the fiscal year that includes 1/1/2018
  • New rules for Net Operating Losses generated in tax years beginning after 12/31/2017
  • AMT has been repeals
  • Section 199 for domestic manufacturing deduction has been repealed for tax years beginning after 12/31/2017
  • Further limitation to the deductibility of meals & entertainment expenses
  • Business interest expense deductibility is limited to interest income plus 30% of taxable income before interest, depreciation and amortization and tax expense
  • Certain legal settlement costs are not deductible for tax purposes
  • Significant changes have been enacted for corporations with international operations, including new regimes for Global Intangible Low-Taxed Income (GILTI) and Base Erosion Anti-Abuse Tax (BEAT). Additionally, a transition tax is imposed for previously deferred earnings and profits overseas.

Likewise, many of these items have implications for entities that operate as partnerships. There is also a change to the way individual partners are taxed on flow through income.

**This is not tax advice and everyone should consult their own tax experts to evaluate their individual situations.

 

 

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The More You Know, ADLSF

A letter from our President

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Did you know that the MDNA Austin D. Lucas Scholarship Fund awards grants for college tuition to children whose parents are employed by MDNA member firms? This

Kristine Conroy, ADLS Fund President with Austin D. Lucas
Kristine Conroy, ADLS Fund President with Austin D. Lucas

member benefit is often called the “heart” of the MDNA. For those not familiar, MDNA’s Scholarship Fund was started by Austin D. Lucas in 1983. Austin D. Lucas was a pillar of the MDNA member family for many years. He started out in the business with his father and grandfather at J. L. Lucas & Sons, Inc. They joined the MDNA in 1953. Later he began his own company Austin D. Lucas Inc. In addition to his work for the Scholarship Fund, he served MDNA with distinction, rising through the ranks to serve as MDNA President in 1956 and 1957. Additionally, he served as LOCATOR Services Inc. President from 1970 to 1974.

Since the inception of the fund in 1983, 1,249 students have received scholarships totaling over $1,678,000. The scholarships awarded make a significant difference in the student’s tuition as the awards range from $1000 to $5000. The goal remains the same, as when it was founded, to help fund the college and trade school education of children whose parents work for firms belonging to MDNA. Every year the Trustees of the Fund award scholarship to this group of deserving children. This year the Fund awarded more than 55 scholarships. The Fund’s principal is never touched. Only the interest is awarded to deserving students. The Fund grows through interest earned by investments and the wonderful generosity of MDNA members and other donors. Donations are always welcome and directly benefit the students and their pursuit of an education.

Sarah B. Johnson
Sarah B. Johnson

This year Sarah B. Johnson was the standout scholarship recipient of the prestigious Austin D. Lucas Trust Award. This award commemorates the legacy of a man who dedicated many years to philanthropic endeavors and charitable work. Sarah exemplifies Austin’s spirit of generosity and dedication to the service of others.

You can read about all of this year’s recipients and more about the Austin D. Lucas Scholarship Fund here. 

MDNA President – Joe Lundvick, CEA, Perfection Global, LLC

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The Annual Tri-Chapter Met at OCC

MDNA’s New England Chapter, New York/New Jersey Chapter and Philadelphia Chapter met for their annual Tri-Chapter Meeting on December 7th, 2017. This years meeting focus was on”Manufacturing Partners” and was hosted by the Orange County Choppers (OCC) and sponsored by AUCTOAbba Freight Systems, LLC, and Direct Capital, A Division of CIT Bank, N.A.  See more photos from this event here 

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After five years off the air, Discovery Channel is reviving the iconic motorcycle-construction reality series American Chopper…. Read more about this story with Aaron Equipment, an MDNA Member Firm who has had three bikes built by OCC!

 

 

 

 

 

 

 

 

 

 

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The More You Know, Recap on WWTP

A letter from our President
moreyouknowq2Dear MDNA Members,
Hope you were not one of our members who woke up Monday asking yourself if you missed anything good at the MDNA’s Weekend With The Pros. Because everyone that I spoke to had a fantastic time in Detroit. Everything was well organized, educational and inspiring. Thank you to the Detroit/Toledo Leadership Team of Ryan Yoder, Mauro Damino, Nick Gibbs and John Stencil, IV, for their efforts planning and organizing such successful tour stops and warehouse tours. Speaking of warehouse tours, thank you to MDNA Members, Gibbs Machinery Company, Presses for Industry LLC., Lee Stevens Machinery Inc., Equipment Trading Co. Inc. and Tramar Industries, for opening up their facilities to us. And a special thank you to Gibbs Machinery Company and Tramar Industries for hosting breakfast and dinner at their warehouses. If you missed the weekend you are not aware that John Becker of MDNA Member firm Heat Treat Equipment Co. hosted and sponsored an amazing lunch at Brewery Becker. This is an awesome brewery and I know I will be back there again.
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This weekend would also not be possible without the strong support of our sponsors.  Go here to see a full list of these great companies.
Additional thanks to MDNA Chapter Leadership Chairman Kevin Brewster for running what was reported to be a great leadership seminar and to First Vice President John Greene for running a hugely successful BOSS Seminar. This seminar was clearly the place to be on Thursday afternoon. With over 50 MDNA owners present there was not topic off limits and I think it is safe to say that we all walked away with new insight from our fellow members.
Clearly the MDNA accomplished several of its missions this past weekend by providing industry education, networking and opportunities to do business. Thanks to all who participated.
If you missed it, you missed a great event. I encourage anyone who missed this weekend to talk to me or one of the over 150 who attended to learn more about what you missed. These are great events that all should attend.

 

MDNA President – Joe Lundvick, CEA
Perfection Global, LLC
To find more of these letters from our President in the future, simply go to the search bar in the upper right hand corner and search: “The More You Know”  
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The More You Know, Did you know we have a machinery Library?

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A letter from our President
Did you know that the MDNA Library has more than 35,000 (and growing), operating manuals, parts books, specification sheets, sales catalogs and other publications dealing with the metalworking and capital equipment industry?  In many cases, the Library copyMDNA library is the only place where copies of catalogs and manuals on unusual or older machines can be obtained.   Access to this resource is only available to MDNA members and best of all it’s free.  Simply call the MDNA or use www.mdna.org, and login to the Member’s Only Back Office, under Resources, to search and request library information.
 –MDNA President – Joe Lundvick, CEA
Perfection Global, LLC

 

 


 

To find more of these letters from our President in the future, simply go to the search bar in the upper right hand corner and search: “The More You Know” 

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The More You Know, Letter from our President on Harvey

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Dear MDNA Members, We are Family!

Yes, we do business together on one deal, compete on the next and yes, some members conduct auctions while others buy and sell from their inventory, but the greatest attribute of this Association is the undeniable fact that we are one family.

During last week’s hurricane, our members in Harvey’s path experienced devastation of unprecedented magnitude. But as soon as the storm broke we heard from one local member after another telling us that they were okay and that they cannot believe the outpouring of calls and offers of support from their Used Machinery Family.

I have no doubt that if any one of us needed anything in the wake of this tragedy, the impending Irma or any other crisis big or small, that MDNA members would be lined up to support one another.

Sometimes “the more you know” is knowing who has your back!

MDNA President – Joe Lundvick, CEA
Perfection Global, LLC
I salute all who weathered Harvey and below is a list of our used machinery family in Texas and Louisiana just in case you want to share your support:
Texas
 
  • Firm: Akjetam Co., LLC Contact Name: Mr. Vincent W. Matejka Phone: +1 281 463 4105 Emails: vince@akjetam.com
  • Firm: FMI Trading LLC Contact Name: Mr. Frank Friesen Phone: +1 915 207 5844 Emails: trade.fmi@gmail.com
  • Firm: Investment Recovery Services Contact Name: Mr. Gregg Trenor Phone: +1 817 222 9848 Emails: gt@irsauction.com
  • Firm: OMNI Machine Tool Corp. Contact Name: Mr. Kerry Introligator Phone: +1 713 278 1700/ +1 877 666 4622 Emails: kiomni@aol.com
  • Firm: Plant & Machinery Inc. Contact Name: Mr. Ron Moore Phone: +1 713 691 4401 Emails: ronm@pmi-auction.com
  • Firm: Rosen Systems Inc. Contact Name: Mr. Michael D. Rosen Phone: +1 972 248 2266 Emails: miker@rosensystems.com
Louisiana  

 

To find more of these letters from our President in the future, simply go to the search bar in the upper right hand corner and search: “The More You Know”