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Putting one's best foot forward is important for successful business communication. And successful business people know the "rule" of the game, what it say and do in business situations, to make the best impression. However, these rules change from country to country, and what is appropriate behavior here may appear rude to someone from Latin America, Europe or Asia To help you become more familiar with some of the different rules of engagement in other countries, Gear Technology spoke with three businessmen who have had extensive contact in various part of the world.
The object of any business transaction, be it foreign or domestic, is making a profit. That's why you go through all the effort of making and selling your product in the first place. Getting paid in a timely manner is crucial to making profit, but when your customer is in another country, this "timely and convenient" payment can become complicated; hence, your need for a banker with expertise in international markets.
"Values" is one of he buzzwords we hear everywhere today. Family values. Traditional values. Alternative values. Along with a balanced budget, less government and more fiber in our diets, "values" - and their practical counterparts, "ethics" - are being promoted as one of the simple, obvious solutions to what ails us as a country and as individuals.
Exporting. It's one of the hot strategies for helping boost businesses of all kinds, gear manufacturing among them. With domestic markets tight and new markets opening up overseas, exporting seems like a reasonable tactic. But while the pressure is on to sell overseas, there is equal, justifiable concern about whether the move is a good one. Horror stories abound about foreign restrictions, bureaucratic snafus, carloads of paperwork, and the complications and nuances of doing business in other languages and with other cultures.
Okay. You've been convinced. You've gritted your teeth and decided to spend the money to launch a company Web site. Everybody from your teenage propeller-head to the girl in the mail room and the salesman in the flashy suit who gave you "such a deal" on Web site services has promised that your site will be the best thing that's happened to your business since the advent of CNC machines.
What is a quality product? This is not an idle question. In the Darwinian business world in which we operate, knowing the answer to this question is key to our survival. A whole library of standards and benchmarks is available to help us gage how we're doing, but they don't really tell the whole story.
Business ethics are like apple pie and motherhood. Few people are willing to come out agin'em. But in reablity, apple pie is full of fat and refined sugar, motherhood is not what it was when June Cleaver ran the kitchen, and business ethics? Well, it's always been easier to talk about them than to actually practice them, and things certainly haven't improved in the last few years.
Have you ever been confronted by a thorny business problem, only to discover - belatedly - that it has been creeping up on you for months, or even years?
You get calls and letters every day from people wanting you to use their ad agency, their direct mail program, their p.r. or marketing firm to promote your business. It seems everyone wants you to spend your money to communicate to your prospects and customers. But what's the best method for you?
Bankruptcy filings have not noticeably declined despite the economic recovery of the Reagan years. Businesses continue to receive notices that their customers have filed bankruptcy. Many of them are writing off significant losses each year as a result. despite the frequent use of bankruptcy by debtors, many business owners and managers have little or no idea of the pot-bankruptcy remedies available to them.
It's every gear manufacturer's nightmare. Your company had been named as a defendant in a product liability suit - one involving serious injuries and death. You're facing endless court appearances, monumental legal fees, and, possibly, seven figure settlements our of your coffers. The very existence of your business could be on the line. The question is, how do you prevent this nightmare from becoming a painful reality.
Cost cutting. It's the aerobics of the 90s for businesses large and small. More than just the latest buzzword or 90-second flash-in-the-panacea, it's a survival technique. Companies that aren't trimming the fat now may not be around in five years to regret that they didn't.
Recently I had the pleasure of having dinner with Frank Sinatra, Jr. He was here in Chicago for a benefit concert for Roosevelt University (my wife is co-chairperson of the benefit). Our conversation ranged over a wide variety of subjects, including a small gem of an HBO television movie, "Truman" with Gary Sinise in the title role.
The two reports referred to in this article, "The people wise Organization" and "House Divided: Views on Change from Top Management - and Their Employees," crossed our desks some weeks ago. They stimulated a fair amount of discussion here, and we hope they do the same in your offices. We welcome your responses. How do you view the corporate/competitive environment of the next few years? How do you see yourself and your company fitting in? Can these ideas work in the gear industry? Let us now what you think.
Knowing the right thing to do isn't hard. Most often, it's very obvious. Actually doing it is something else again. For example, we all know that we probably eat too much refined sugar and fat, but when the double chocolate cheesecake come by, it's easy to convince ourselves that one piece won't hurt.
Much about ISO 9000 is the subject of noisy debate. But on one thing almost everyone, true believers and critics alike, agrees: Getting ISO 9000 certification can be expensive. Companies can expect to spend at least $35,000 for basic certification and six-month checkup fees over a three-year period. These figures do not include hidden costs like time and money spent on internal improvements required to meet ISO 9000 certification. But the really big-ticket items in the process are employee time and the cost of bringing in outside consultants. Many ISO 9000 consultants charge upwards of $1,800 a day.
Heat treating is a critical operation in gear manufacturing. It can make or break the quality of your final product. Yet it is one that frequently gear manufacturers outsource to someone else. Then the crucial question becomes, how do you know you're getting the right heat treater? How can you guarantee your end product when you have turned over this important process to someone else?
A fundamental characteristic of the gear industry is that it is capital intensive. In the last decade, the gear manufacturing industry has been undergoing an intense drive toward improving and modernizing its capital equipment base. The Department of Commerce reports that annual sales of gear cutting equipment have increased nearly 60% since 1990. While this effort has paid off in increased competitiveness for the American gear industry, it is important to remember that there is another capital crucial to manufacturing success - "human capital."
It's the New Year, and with it comes the opportunity to take a fresh look at your business objectives. Because business development is such a vital part of running a company, I'd like to present some guidelines I have found beneficial for securing new work and new customers.
The whole point of a trade show is to get leads that will turn into sales. No matter how attractive your booth was, no matter how smoothly the setup and the show ran, no matter how many visitors you had at your booth, if your presence at a show didn't net you any sales, then your considerable investment of time, money, and effort has been wasted.
Dictatorships can be stifling. In an autocratic organization, employees seldom participate in decisions that affect them. By establishing a collaborative environment, you allow everyone to play a role in making your organization a success.
Countless research studies confirm this fact: Companies that advertise aggressively during a recession will flourish after the economic tide turns. Regardless of company size, effective advertising generally requires the services of an agency, and under current economic conditions, you may need one now more than ever. The question is, how do you go about getting the right one for your company.
Going to IMTS? Beware. It's easy to make any number of common mistakes that can turn your productive buying trip into an expensive bomb.
Given the current economic and legal climate, matters of hiring and firing are cause for considerable concern among managers. In addition to all the other factors to be considered, employers must be wary of exactly how these procedures should be carried out, so that the company is not left open to lawsuits based on charges of discrimination of one kind or another. The reasons given for a particular employment decision may be as crucial to determining liability as the decision itself.
At the next meeting of your association's marketing committee, notice what happens. The rate of taking notes increases dramatically when the market analysis and international trade trends reports begin. Even with the handouts to match the overhead projections of numbers, the audience's pace is furious. This is vital, apparently hard-to-come-by information, and no one wants to miss out. Almost all of the information comes from one source, yet the data offered is only one small dip from an enormous treasure chest - the U.S. Government.
One of the key questions to be answered when exporting is how you are going to get your product to your customer. All the time, effort, and money you've spent to make a sale in the first place can be wasted if the shipment is late, damaged, or lost, or if delivery becomes an expensive bureaucratic nightmare for either you or the buyer.
What follows is the first of three articles we will be running on ISO 9000 and what it means for the gear industry. This first article will cover what ISO 9000 is, what some of its benefits - and problems - are, and whether your company should be a candidate for this certification process. In our next issue, we will consider the important question of how, when, and if to hire an ISO 9000 consultant. The final article in this series will discuss ways to save money while streamlining the certification process in your company.
What can be done about the rising cost of labor? Mr. Robert Reich, U.S. Secretary of Labor, has already indicated the administration's intention of pushing the minimum wage from $4.25 to $4.50 per hour and indexing it for inflation. That means that every jiggle in the inflation chart will push the minimum wage higher.
On of the key questions confronting any company considering ISO 9000 certification is, how much is this going to cost? The up-front fees are only the beginning. Dissect the ISO 9000 certification procedure with an eye for hidden costs, and two segments of the process will leap out - the cost of consultants and the cost of making in-house improvements for the sake of passing certification. Most of these costs can be controlled by careful selection f the right consultant in the first place.
Ever since the first cavemen bartered clamshells and spears, business has been about people interacting. In simpler times, commerce was conducted according to the look in someone's eye or the feel of his handshake. Today we have computers, fax machines, modems, e-mail and cell phones - all powerful tools that have increased our productivity. Those devices have shrunk our world, but, in some ways, they've also distanced us from each other by reducing personal interaction. In the name of efficiency, profitability and progress, we've found ways to place orders, sell products and exchange information without ever coming into contact with another human being.
In this article, gear buyers have been given an opportunity to discuss quality, value, customer service and how gear manufacturers can improve business practices.
During a year with a strong dollar, tanked oil prices and a number of soft markets that just aren't buying, one might expect spline manufacturers to be experiencing the same tumult everyone else is. But when I got a chance to speak with some of the suppliers to spline manufacturers at IMTS about how business is going, many of the manufacturing industry's recent woes never came up, and instead were replaced by a shrug and an "eh, business is doing pretty well."
In 1877, Irish immigrant William Gleason, owner of a machine tool business in Rochester, NY, suffered a terrible blow. Gleason's son Tom died. The loss was not merely a personal one. Tom had been his father's assistant, and the senior Gleason had no one to fill the gap and help him carry on his business.
James J. Cervinka and Frank E. Pielsticker must've known the future when they named their new business Arrow Gear Co. in 1947. They started out to manufacture gears for hand tools and machine tools, but their business has taken off since then.
In this issue's column, Joe lays out the basic truth for most manufacturing companies: If you're not moving forward, you're falling behind.
Let's face it. The Internet is still, to many of us, exciting, confusing, terrifying and frustrating by turns. The buzzwords change so fast that even the most high tech companies have a hard time keeping up. Cyberspace. Firewall, Java. E-commerce. The list goes on.
Current Letter To The Editor for January/February 2002.
More than 100 years ago, gear manufacturers were facing a significant challenge from industry. The incredible advances in industrialization and transportation that occurred at the turn of the 20th century resulted in incredible growth for gear makers, but there were significant technical issues. "The lack of process and product standardization was a continuing problem in all U.S. industry. The lack of industry-wide gear standards meant there were no standard gear tooth sizes, ratings, quality definition or consistent manufacturing methods" (Celebrating 100 Years of Gearing, pg. 22).
Heat treatment industry reinforces environmental/energy conservation.
The cutting tool industry has undergone some serious changes in the last couple of years in both technology and the way the industry does business. The emerging technology today, as well as for the foreseeable future, is dry cutting, especially in high volume production settings. Wet cutting continues to be as popular as ever with lubrication advances making it more economical and environmentally friendly. There has also developed a process called "near dry cutting." this process offers many of the benefits of fluids while eliminating many of hte associated problems.
No matter what business you're in, you need customers. More importantly, you need customers who can and want to pay for your goods or services. It's in our best interest to do everything we can to make sue our customers are successful with the products or services they buy from us, as I believe that our wages are paid not by our companies but by their customers.
I learned much of what I know about the machine tool business from my father, who learned it from his father before him. One of the lessons he taught was that no matter how important the details seem, it's equally important to look at the bigger picture.
I'd like to share with you a vision of the future. It takes place in cyberspace, and it's coming soon to a computer near you. Whether you like it or not, and whether you're ready or not, the Internet is changing the way business is conducted.
Dear Editor, I am writing this in response to some articles appearing in your journal, but I want to take the opportunity, also, to express my thanks for all the good work your publication is doing. I always look forward to your next issue being in my mail slot. I know I will find timely technical articles relevant to our manufacturing situation here at Amarillo Gear Co., as well as thought provoking commentary on events and trends affecting our business. The Publisher's Page is always worth the reading.
Founded in 1927 as the Machine Tool Show and held every two years, the International Manufacturing Technology Show (IMTS) has grown into the largest manufacturing trade show in both North and South America. The statistics for the 1998 show offer a glimpse of the magnitude. Over 1,440 exhibitors showed off 60 million pounds of machinery and went through 5 million pounds of display materials during the week long show. The show organizers themselves sent out 2,632,560 promotional pieces. Twenty-three foreign machine tool associations participated. It took 4,600 trucks to get everything to McCormick Place for the show. There were 450 journalists covering the event, which was attended by 121,764 people. There was $1,034.618,000 worth of business transacted on the show floor of IMTS 1998.
In the approximately 15 years that I have been writing editorials for Gear Technology, I've purposely avoided certain topics. Sex, religion and my own used gear machinery business are among the subjects that have always been off limits. But with this issue, I'm going to break one of my long-standing taboos by talking politics.
IMTS: It can be the best of times or the worst of times. The best because nowhere will you find more equipment, products and services for your business than at McCormick Place, Chicago, in September; the worst because finding your way around the show and around the city can be a hassle.
Today motion control systems are migrating from analog to digital technology at an ever increasing rate because digital technology at an ever-increasing rate because digital drives provide performance equal to or exceeding that of analog drives, plus information to run your machine more effectively and manage your quality program and your business. Most of this data is simply not available from analog drives.
Joe Garfien came to America in 1928 to play soccer. He also learned to cut gears and build a business. "When I came here [to America] I came in on a Friday, and I had to go work on Monday, so I found a job at Perfection Gear...and that's how I got started in gears."
I sat down to write this editorial about my father, Harold Goldstein, as he approached his 80th birthday in October. I had meant it to be a celebration of his nearly 65 years in the machine tool business. Unfortunately, on August 26, as I was working on it, my father passed away after a long battle with emphysema. This editorial has now become a memorial as well as a celebration.
Sometimes in the pressure to meet deadlines and handle the Crisis of the Day, we lose sight of the forest for the trees. As a partial cure for this syndrome, I recently reviewed the six interviews with gear industry leaders that have appeared in our pages during the last year, trying to get a grasp of a larger picture. It struck me with renewed force how six men, each with a lifetime of experience in this business, see the gear industry forest the same way.
Every once in a while something happens to fundamentally change the nature of your business. Despite the best of intentions and the most careful planning, there's no way we can anticipate every event. What do you do, for example, when your two biggest competitors merge, when the economy collapses in the region that imports your products or when key employees leave your company? Your reactions may make the difference between success and struggling to survive.
"We're taking over," says Art Milano. It's a bold statement from the engineering manager of Seitz Corporation, one of the largest manufacturers of injection molded plastic gears, but Milano has reason for his optimism. Plastic gears are big business-probably bigger than most gear industry "insiders" realize.
Our goal at Gear Technology for the past 31 years has been to bring you the best possible technical information about gear manufacturing. We serve as the industry’s educational resource, explaining the technology not only so that you can understand it, but also so that you can make use of it in your gear-related business.
There's no substitute for a good software package in gear manufacturing. It's a critical shop floor tool that provides practical engineering services that customers appreciate. When you're in the business of specifying and procuring high quality gears, the software needs to meet many objectives including the consideration of all tolerances of center distance, tooth thickness and tip diameters, root diameters, fillets, etc. It's also imperative that the software updates include the latest revisions to the gear standards being used in the industry.
Peter Eelman has been involved with the International Manufacturing Technology Show for more than 30 years. First as an exhibitor with Warner & Swasey Co.; later with Toyoda USA; later still as a consultant; and currently as vice president for exhibitions and business development, IMTS. He also serves on the board of directors of the exhibitor-appointed Contractor Association and is a former member of the board of directors for the Trade Show Exhibitors Association. Eelman is a speaker with the International Association of Exhibitions and Events and serves on the Metropolitan Chicago Pier & Exposition Authority Labor Council. As the head of IMTS, Eelman is the go-to, make-things-happen guy for the Chicago Convention and Tourism Bureau, the Metropolitan Pier and Exposition Authority, McCormick Place and the various vendors, service providers and trade unions involved in the complex trade show process. In addition to IMTS, Eelman is also prominently involved in shows with an international presence.
We've been in the business of making things small and portable for a long time. But when it comes to shrinking things down, a team of scientists from Germany, Italy and Spain led by Roberto Di Leonardo decided to go big.
WESTEC is positioning itself as an event for not only businesses of all sizes and interests, but also attendees of all ages.
You get one shot to make a first impression. One opportunity to show your customers, vendors and suppliers that you provide a steady, reliable product that will generate repeat business. How do you make this happen? What tools and strategies are available to get gear materials (forgings, gear blanks, etc.) shipped faster and more efficiently in today's tech-heavy, fast-paced, manufacturing environment?
Ready or not, QS-9000 is here. If you are a first-tier supplier to one of the Big Three automotive companies, you've already heard that compliance with this new quality standard is now an entry-level requirement for doing business with Ford, General Motors and Chrysler. If you're a second-or third-tier supplier, you can expect the ripple effect of this new standard to hit your company one way or another.
Results from our annual survey of gear manufacturers reveal that business is good, but the skilled labor situation is not.
Most books related to the gear industry are more about the business side or the technical aspects of what we do.
Every so often manufacturing is jolted out of its inertia by a transformative technology – one that fundamentally changes not only the way products are made, but also the economics of the business.
The past several months have been filled with uncertainty. Everyone wanted to wait and see who would be our next president and how the political landscape might change. Now the elections are over, and the polls are all closed, so we should all be getting back to business, right? Publisher Michael Goldstein shares insight from our state-of-the-gear-industry survey.
Capstan Atlantic, located in Wrentham, Massachusetts, produces powder metal gears, sprockets and complex structural components. The company has provided unique powder metal products in a variety of industries including automotive, business machines, appliances, lawn and garden equipment and recreational vehicles.
Before we get into projections and prognostications about the future, let’s take a minute to review 2012. For many in the gear industry, the year was better than expected. Some manufacturers had a very successful year leading up to an even more successful manufacturing trade show (IMTS 2012). Others were searching for more business, hoping that the general state of the economy wouldn’t make things worse. In some cases, it did.
Over the past few months we've talked with a lot of gear manufacturers. Many of them tell us business is strong, while others are struggling with reduced demand. The difference between them isn't so much in the quality of their manufacturing operations, but rather trends in the end markets they serve.
Heat treat suppliers look to the gear industry and the upcoming combined Gear Expo/Heat Treat 2013 for new business.
Bearings ain't beanbag. They are complicated. They are big-business. They are often counterfeited. They are used in virtually anything that moves. But it is the "complicated" part that challenges OEMs, job shops and other operations, and, most of all, their employees. Add to that the countless other entities around the world that are intimately involved with bearings and you can arrive at a semblance of an idea of just how important these precious orbs can be to a successful operation.
Big gears, They drive the machinery that rolls steel, grinds limestone, pulverizes coal, pumps mud, mixes rubber, raises bridges and does many other heavy-duty industrial jobs. For 117 years, big gears have also driven the business of Horsburgh & Scott of Cleveland, OH.
Most anyone that has been in the gear industry—or any machining and tooling oriented business, for that matter—is probably at least somewhat familiar with the Roto-Flo workhorse line of hydraulic-actuated spline and thread rolling machines. After all, they’ve been at it for decade
Forest City Gear president Fred Young has a straightforward strategy for acquiring and retaining business...
Results of research on trends in employment, outsourcing, machine tool investment and other gear industry business practices.
For many in the gear and gear products business, these may seem like the best of times...
When Forest City Gear started manufacturing gears for medical components in the 1980s, it was a minuscule part of the company's business. Today, the medical device industry represents 18-20%.
"An industrial business with a very important growth potential for the next decade." That's the wind energy as described by Ivan Brems of gear manufacturer Hansen Transmissions International.
Alternative business strategies from some alternative gear manufacturers.
If you've read any business publications lately, chances are you've seen an article or two covering language and cultural barriers in the global marketplace.
How can a company grow its business or plan for growth when its niche area only accesses the smaller part of the pie?
In October, Gear Technology conducted an anonymous survey of gear manufacturers. Invitations were sent by e-mail to thousands of individuals around the world. More than 300 individuals responded to the online survey, answering questions about their manufacturing operations and current challenges facing their businesses.
Results of research on trends in employment, outsourcing, machine tool investment and other gear industry business practices.
Over many years of being in the machine tool business, it has been interesting to observe the way we suppliers are forced to quote and sell machine tools to many large companies.
As the international business community grows closer together, the need for understanding differences between national and international gear rating standards becomes increasingly important for U.S. gear manufacturers competing in the world market.
For years, politicians, educators and business leaders have generated various ideas to revitalize U.S. manufacturing and engineering. These include manufacturing initiatives, internal training programs and an emphasis on science, technology, engineering and mathematics (STEM) in the classroom. The declining expertise in these fields, however, continues to be a growing problem in every facet of manufacturing and engineering.
Like many businesses in this economic cycle, the IMTS marketing team is forced to look for clever ways to make a profit.
Custom Gear and Machine, Inc., of Roscoe, IL, recently purchased a Reishauer RZ400 gear grinder and, on one job, has seen the cycle time drop from 40 minutes to six minutes, according to Tim Rose, vice president of manufacturing, who runs the business with co-owners Dave Patterson and Mike Rasmann.
These days it's hard to get through breakfast without reading or hearing another story about how the computer is changing the way we live, sleep, eat, breathe, make things and do business. The message is that everything is computerized now, or, if it isn't, it will be by next Tuesday at the latest, Well, maybe.
How lean manufacturing principles can help transform your gear manufacturing business.
Mission: Competing to Win Like a lot of people, I grew up seeing the world as fairly flat and believing that everything of importance happened in Texas. As I grew older, my outlook grew to include the United States, Canada, and Mexico. The rest of the world did not seem very important, if it existed at all. Unfortunately, I was not alone in this very narrow view. Many other in the gear business shared this perception.
It is often easy for those outside of the gear industry to get the impression that nothing is changing in our business. After all, all illustrated bimonthly by the covers of this very journal the making of gears has been with us for centuries. However, nothing could be further from the truth.
"We have met the enemy and he is us," says Pogo, the cartoon character. The enemy is the crisis in our educational system, and "crisis" is the only term that accurately describes the situation. It is every bit as serious, if not more so, than the crisis that followed the Soviet launching of Sputnik in 1957 - and for many of the same reasons. Our failing public education system threatens our position int he global political and business arenas; and this time, it's not just the Soviets or the Japanese who need to be taken seriously as competitors. Every country int he world that graduates better prepared students than we do - and there are a great many of them - has us at a competitive disadvantage.
One of the hot items on the public agenda these days is "The Environment." Suddenly everyone wants to save the whales and the rain forest. Politicians, rock stars, and big business have all discovered that you can't get anything but good press for saying that you're in favor of trees and marine mammals.
Beginning with our next issue, some of the promised changes in format for Gear Technology will begin showing up in these pages. As part of our commitment to provide you with important information about the gear and gear products industry, we are expanding our coverage. In addition to continuing to publish some of the best results of gear research and development throughout the world, we will be adding special columns covering vital aspects of the gearing business.
Popular wisdom has it that manufacturing in the United States is no longer a viable entity. We are told that quality is poor, skilled labor is difficult to obtain, if not impossible, demand is low, and the government is helping to discourage business. So what should we do, give up?
The availability of technical software has grown rapidly in the last few years because of the proliferation of personal computers. It is rare to find an organization doing technical work that does not have some type of computer. For gear designers and manufacturers, proper use of the computer can mean the difference between meeting the competition or falling behind in today's business world. The right answers the first time are essential if cost-effective design and fabrication are to be realized. The computer is capable of optimizing a design by methods that are too laborious to undertake using hard calculations. As speeds continue to climb and more power per pound is required from gear systems, it no longer is possible to design "on the safe side" by using larger service factors. At high rotational speeds a larger gear set may well have less capacity because of dynamic effects. The gear engineer of today must consider the entire gear box or even the entire rotating system as his or her domain.
A medieval philosopher once said that if he knew for certain the world was to end tomorrow, he would be sure to take time to plant an apple tree in his garden today. The recent events in the world financial capitals have seemed a bit like prior notice of something cataclysmic, but like the philosopher, we can still find some reasons for hope in the face of an uncertain future. The good news for our industry is that four important efforts on the part of various organizations promise to have long-term positive effects on both the gear and machine tool businesses.
NC and CNC metal cutting machines are among the most popular machine tools in the business today, There is also a strong trend toward using flexible machining centers and flexible manufacturing systems. The same trend is apparent in gear cutting. Currently the trend toward CNC tools has increased, and sophisticated controls and peripheral equipment for gear cutting machines are now available; however, the investment in a CNC gear machine has to be justified on the basis of economic facts as well as technical advantages.
In November, Gear Technology conducted an anonymous survey of gear manufacturers. Invitations were sent by e-mail to thousands of individuals around the world. More than 300 individuals responded to the online survey, answering questions about their manufacturing operations and current challenges facing their businesses.
Indexable carbide insert cutting tools for gears are nothing new. But big gears have recently become a very big business. The result is that there's been a renewed interest in carbide insert cutting tools.
Results of Gear Technology research on trends in employment, outsourcing, machine tool investment and other gear industry business practices.
Getting rid of personal mementos is an arduous housekeeping ritual for some of us; every last gear has a memory. One man’s trash is another man’s gold, after all, or in some cases, one failed business is a forgotten piece of personal and mechanical genealogy. Such is the case of the Hill-Climber chainless bicycle, the remains of which were pulled from a family junk pile after nearly half a century.
Uncertainty casts a shadow over future business opportunities for manufacturers serving the new energy markets.
History comes around full circle. It is interesting to talk to gear manufacturers who service the defense, aerospace, automotive and computer industries and find that their sales, production and backlogs reflect excellent and, in some cases, record breaking business.
Now that the new tax bill has been passed, the time has come to begin evaluating how it will affect investment strategies in the machine tool business. Your first reaction may be to think that any motivation to invest in capital improvements in your company is gone, because both the investment tax credit and the accelerated depreciation on capital investment have been removed from the tax law. After all, if Uncle Sam is not going to help us out through some short term tax gains, why should we bother? Can we afford to bother?
Might some of you may be tempted to skip IMTS this year? Business is just so-so. You can’t afford to be away from the shop. It will be a waste of time because you don’t have the budget for new machine tools or new technology anyway. You’ve cut back on travel expenses. It’s your wife’s birthday...
Business is finally starting to get back to usual in the big gear world, which offers us a chance to look back at the greatest lesson on how to survive an economic downturn. Includes the sidebar: "Brass Tacks with Klingelnberg."
News Items About business
1 Northstar Aerospace Focuses on Record Backlog, Divests Non-Core Business (December 2, 2008)
In order to handle a significant core-business backlog in manufacturing aerospace gears and transmissions, Northstar Aerospace is divesti... Read News
2 Romax Appoints Business Development Manager for Hybrid Technology (June 15, 2010)
Romax Technology recently recruited a new business development manager to manage Romax's hybrid and electric vehicle consultancy.&nbs... Read News
3 Koepfer and Carl Zeiss Form Business Partnership (August 2, 2010)
Carl Zeiss IMT is expanding its reach into all areas of gear metrology in its business partner agreement with Koepfer America for the Uni... Read News
4 PMA Reports Business Conditions Steady in January 2008 (February 14, 2008)
According to the January 2008 Precision Metalforming Association (PMA) Business Conditions Report, metalforming companies expect business... Read News
5 Vision Quality Components Celebrates Five Years in Business (November 26, 2007)
Providing powder metal components since January of 2003, Vision Quality Components Inc. is set to celebrate five years in business. The P... Read News
6 Paulo Products Purchases Bodycote Business (April 15, 2006)
Paulo Products Co. purchased the metal treating and brazing business of Bodycote Thermal Processing of St. Louis, MO. According to the... Read News
7 Wall Colmonoy Appoints Business Development Manager (April 17, 2006)
Morris Warino was appointed business development manager for Wall Colmonoy Corp. of Oklahoma City, OK. According to the companys... Read News
8 Rockwell Automation Plans to Sell Mechanical and Motor Business (April 19, 2006)
Rockwell Automation announced plans to sell its Dodge? mechanical and Reliance Electric motors and motor repair services businesses, the ... Read News
9 Sandvik Names New Director, Business Services (December 8, 2010)
Sandvik Coromant recently announced that Mike Verkamp has been named the company's new director, business services. In this position,... Read News
10 Renishaw Honored with U.K. Business Award (November 16, 2011)
Global engineering company Renishaw was honored with the Grant Thornton Mid-Cap Business of the Year award for FTSE-listed businesses at ... Read News
11 Büsselmann Named Head of Sales of Jenoptik's Lasers Business Unit (May 29, 2015)
Klaus Büsselmann was recently named the head of sales in the Lasers business unit of the Jenoptik’s lasers and material proces... Read News
12 LMC Workholding Receives Governor's Century Business Award to Honor 100 Years of Business (April 21, 2017)
LMC Workholding received the Governor's Century Business Award honoring its 100 years in business and was one of eight Indiana compan... Read News
13 Moventas to Rebrand Industrial and Wind Gear Business (September 25, 2013)
Moventas is in the process of rebranding and differentiating its industrial and wind gear businesses. Changes in its operational struct... Read News
14 Limamar Wins Ontario Business Excellence Award (July 27, 2007)
Linamar Corporation is a recipient of a 2007 Outstanding Business Achievement Award from the Ontario Chamber of Commerce (OCC). Acc... Read News
15 Houghton International Announces Senior Leadership Appointments to Support Global Businesses (June 5, 2015)
Houghton International Inc. recently announced changes in organizational leadership that will improve the management and alignment of its... Read News
16 Ford Announces Sale of Automotive Components Holdings' PTU Business (August 30, 2007)
Ford Motor Co. and Linamar Corp. announced the signing of definitive agreements for the sale of the Automotive Components Holdings’... Read News
17 Renold Divests Machine Tool Business (January 3, 2007)
Renold plc announced that, since its announcement on 23rd November 2006, it has agreed upon terms for the sale of certain assets and liab... Read News
18 Ipsen Adds Janusz Kowalewski as Director of Business Development for ARGOS (August 1, 2016)
Ipsen is pleased to announce that Janusz Kowalewski joined the Ipsen Team as Director of Business Development for ARGOS. Kowalewski holds... Read News
19 Fiberfil Acquires Business Unit of DSM Plastics (January 10, 2006)
Fiberfil Engineered Plastics acquired the North American custom compounding unit of DSM Engineering Plastics, effective Dec. 7. Fiber... Read News
20 Renold Discusses Sale of Machine Tool Business (April 14, 2006)
The Board of Renold plc announced that the company is in advanced negotiations with Venture Private Equity regarding the acquisition by ... Read News
21 Getrag to Sell Synchron Business Unit to Hoerbiger (April 14, 2006)
The Getrag Group plans to sell Getrag Synchron Technik GmbH to Hoerbiger Drive Technology on Oct. 1. After the contractual arrangement... Read News
22 Precision Technologies Group Launches Program with Alliance Business School to Give MSc Students Global Perspective (January 12, 2016)
Precision Technologies Group (PTG) has partnered with The University of Manchester's Alliance Business School to help equip MSc stude... Read News
23 NTMA & PMA Issue Statement on Small Business Lending (May 25, 2010)
The National Tooling and Machining Association (NTMA) and the Precision Metalforming Association (PMA) issued the following statement in ... Read News
24 PMA Predicts Business to Improve (February 20, 2012)
According to the February 2012 Precision Metalforming Association (PMA) Business Conditions Report, metalforming companies predict a spik... Read News
25 PMA Releases Business Conditions Report (May 21, 2012)
According to the May 2012 Precision Metalforming Association (PMA) Business Conditions Report, metalforming companies expect a softening ... Read News
26 PMA Business Conditions Improve (August 20, 2012)
According to the August 2012 Precision Metalforming Association (PMA) Business Conditions Report, metalforming companies expect a slight ... Read News
27 PTG Appoints Group Business Development Director (October 2, 2012)
Precision Technologies Group (PTG), the U.K.-based specialists in high-precision machine tool and component design, build and supply, hav... Read News
28 Metalforming Companies Expect Business Conditions to Decline (November 23, 2011)
According to the November 2011 Precision Metalforming Association (PMA) Business Conditions Report, metalforming companies predict a cont... Read News
29 Forest City Gear Earns Women's Business Enterprise Certification (December 12, 2017)
Forest City Gear has successfully met the Women’s Business Enterprise National Council’s standards for certification as a Wom... Read News
30 MetalTek Announces Three New Business Units (October 9, 2012)
MetalTek International, a Wisconsin‐based manufacturer and integrator of quality high‐alloycomponents, announced a reorganiza... Read News
31 PMA Releases February Business Conditions Report (February 17, 2014)
According to the February 2014 Precision Metalforming Association (PMA) Business Conditions Report, metalforming companies expect a dip i... Read News
32 PECo Wins Better Business Bureau Award (May 29, 2013)
PECo was recently announced as the winner of the Better Business Bureau’s Eclipse Integrity Award in the 100+ employees category. T... Read News
33 PMA Business Report for December Optimistic (December 15, 2010)
According to the December 2010 Precision Metalforming Association (PMA) Business Conditions Report, metalforming companies anticipate a s... Read News
34 PTG Receives Greater China Business Award (March 7, 2014)
Rochdale-based Precision Technologies Group (PTG) was the proud recipient of the Greater China Business Award for the North West, at the ... Read News