MDNA Bi-weekly
Jan. 22, 2013

MDNA 72nd Annual Convention
MDNA

Click here to make your hotel reservation
Hotel Rate is $219 Single/Double
Hotel cut-off is April 1

The Westin Copley Place, Boston
10 Huntington Avenue
Boston, MA 02116
Phone: (617) 262-9600
Fax: (617) 424-7483More

Wants & For Sales
MDNA
Click here Chicago Chapter Meeting
Click here Detroit/Toledo Chapter Meeting
Click here Ohio Valley Chapter Meeting More

Condolences
MDNA
It is with deep sadness to inform you that Robert "Bob" Foster passed away on Saturday, Jan. 19. Bob was the president of former MDNA member firm Foster Machinery Co., Inc. Foster was the founder of Foster Machinery Sales Company, Inc. in 1946. Foster Machinery's last location was Madison Heights, Mich. They bought and sold new and used metalworking machinery. He joined the Machinery Dealers National Association in 1949 until 1984 when he retired. He is survived by his wife Mary E. "Betty" Foster, two daughters, Cindy and Julie, and his son Craig worked with him since 1968 and owns Foster Machinery Company, Inc. in Charlotte, N.C. Please extend your thoughts and prayers to the family. Click here for more details.More

As Manufacturing Bounces Back from Recession, Unions are Left Behind
The Washington Post
U.S. manufacturers have added a half-million new workers since the end of 2009, making the sector one of the few bright spots in an otherwise weak recovery. And yet there were 4 percent fewer union factory workers in 2012 than there were in 2010, according to federal survey data. On balance, all of the job gains in manufacturing have been nonunion.More

Watch the Construction of a Dodge Viper in Just 4 Minutes
The New York Times
VideoBrief Despite its status as the Motor City, Detroit has only two automobile plants entirely within the city limits. One is Chrysler's Conner Avenue Assembly Plant, which reopened in December after being closed for more than three years during the automaker's bankruptcy. Later this month, the factory's first Viper — considered a "halo" vehicle, built to enhance a company's image rather than drive sales — will roll off the line.More

Caterpillar Writes Off Most of China Deal After Fraud
Reuters
Caterpillar uncovered "deliberate, multiyear, coordinated accounting misconduct" at a subsidiary of a Chinese company it acquired last summer, leading it to write off most of the value of the deal and wipe out half a quarter's profits. Caterpillar, the world's largest maker of tractors and excavators, said it would take a noncash goodwill impairment charge of $580 million, or 87 cents per share, in the fourth quarter of 2012.More

Management is (Still) Not Leadership
Harvard Business Review
Management is a set of well-known processes, like planning, budgeting, structuring jobs, staffing jobs, measuring performance and problem-solving, which help an organization to predictably do what it knows how to do well. Leadership is entirely different. It is associated with taking an organization into the future, finding opportunities that are coming at it faster and faster and successfully exploiting those opportunities. Leadership is about vision, about people buying in, about empowerment and, most of all, about producing useful change.More

Study: Freer Trade with China Lowered American Manufacturing by 29.6 Percent
The Washington Post
A new working paper from the Fed's Justin Pierce and Yale's Peter Schott argues that the 2000 granting of permanent normal trade relations to China was the rare high-profile trade deal that really mattered. PNTR did not actually involve much in the way of new tariff reductions, but what it did offer was certainty. It suggested that previously eliminated tariffs on Chinese goods weren't coming back anytime soon. That reassurance mattered a great deal. All told, they argue that employment in the manufacturing sector in the United States was 29.6 percent lower than it otherwise would have been absent PNTR.More

The Coming Shortage of Skilled Manufacturing Workers
Bloomberg Businessweek
As many as 600,000 U.S. manufacturing jobs remained vacant across the United States due to shortages of skilled workers, according to the Manufacturing Institute's most recent "skills gap" report. Yet, if there truly were significant shortages of skilled workers, employers would be increasing wages to attract them. That's basic supply-and-demand economics. How do you explain the fact that manufacturing wages are not increasing significantly above inflation?More

Supply, Mill and Dealer Quotes Erode US Steel Scrap Sentiment
Platts
Anticipation of an upturn for February steel scrap prices by U.S. dealers eroded as mills and brokers entered the market early with quotes lower than prices negotiated for January requirements. Two major scrap brokers were heard to have quoted prices representing a discount to prices paid for January supplies, with one broker seeking prices down as much as $20/lt. Multiple Midwestern U.S. mills were heard to have quoted prices to one dealer at lower prices, as well. More

What Went Wrong At Boeing?
Forbes
Boeing enthusiastically embraced outsourcing, both locally and internationally, as a way of lowering costs and accelerating development. The approach was intended to "reduce the 787's development time from six to four years and development cost from $10 to $6 billion." The end result was the opposite. The project is billions of dollars over budget and three years behind schedule.More