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Metals Service Center Institute Mid-America Chapter Town Hall Meeting

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Metals Service Center Institute Mid-America Chapter Town Hall Meeting. BOB WEIDNER President & Chief Executive Officer Metals Service Center Institute. ‘90 ‘91 ‘92 ’93 ’94 ’95 ’96 ’97 ’98 ’99 ’00 ’01 ’02 ’03 ‘04 .

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Presentation Transcript
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BOB WEIDNER

President & Chief Executive Officer

Metals Service Center Institute

slide3

‘90 ‘91 ‘92 ’93 ’94 ’95 ’96 ’97 ’98 ’99 ’00 ’01 ’02 ’03 ‘04

Capacity Utilization: Durable Manufacturing

85.0

82.5

80.0

77.5

75.0

72.5

70.0

67.5

cyclical vs structural

Recessions:

Cyclical

Vs.

Structural

recovery preconditions
Low Interest Rates

Improved Financial Market Conditions

Tax Cuts

Weaker Dollar

Recovery Preconditions:
however
GDP Anemic

Unemployment High

Under-employment

However:

Jobless Recovery

slide9
Need for collaborative coalition of metals and manufacturing groups

We need to elevate awareness level of the manufacturing crisis

Large and small manufacturing businesses need to work together to insure fair and free trade

“Securing America’s Future: The Case for a Strong Manufacturing Base” Joel Popkin Study

Metalworking Alliance to Save North American Manufacturing

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Leverage the strength of our diverse membership base focusing it on saving N. A. manufacturing

Utilize our chapter infrastructure to conduct 5 town hall meetings by year-end

 Chicago on 8-21, Charlotte on 10-9, Atlanta on 10-16, Los Angeles on 10-21, Cleveland on 12-2 and 7-10 more scheduled in 2004

CEO “fly-in” to Washington, D.C. in February

Coalition for a Sound Dollar

MSCI’s Role

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BILL HICKEY

President

Lapham-Hickey Steel Corporation

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Market fundamentals have historically not set the value of the Japanese Yen, Taiwanese Dollar, Korean Won and Chinese Yuan – Governments Have!

China’s growing trade surplus and huge foreign investment inflows would suggest one thing – a stronger yuan – reality is vis-a-vis the U.S. dollar there’s been no change

Currency Manipulation

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Currency Valuations – Market Forces Or Manipulation?

Percentage Change Of Average Monthly Values

Versus The U.S. Dollar From January 2001

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The U.S. Current Account Deficit

Source: U.S. Department of Commerce – February 13, 2004

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Factory Jobs In Decline

U.S. Manufacturing Jobs

Seasonally Adjusted, Scale In Millions

Source: U.S. Bureau of Labor Statistics – February 6, 2004

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Coalition of over 90 trade associations focused on achieving a sound dollar policy – www.sounddollar.org

Growing momentum to utilize Section 301 of the Trade Law of 1974 to get the Administration and Congress to address currency manipulation

IMF Article 4

Various provisions of WTO regulations

Coalition for a Sound Dollar

personal commitment participation
Write your elected officials (federal, state & local)

Invite elected officials into your plants

Hold elected officials accountable to take a stance on pro-manufacturing agenda

Get engaged in championing manufacturing at home . . .

Personal Commitment & Participation
the hazard of currency reserves

$673.5 43%

$403.3 41%

$206.6 28%

$155.4 28%

$118.4 6%

$100.6 43%

$96.3 17%

$44.9 30%

$42.1 6%

$36.3 15%

$16.7 5%

The Hazard Of Currency Reserves

AWASH IN DOLLARS

Asia’s growing foreign reserves, in billions of dollars

Country Year-End 2003% Change From 2002

Source: Reuters

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ED BALLARD

President

Six-B Manufacturing, Inc.

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ROBERT LOCKETT

Chief Operating Officer

PREMIER Motorsports, LLC

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