I posted a note on Twitter last week asking people if July sales were still as strong as they seem to have been through the beginning of the year. Every answer except ONE said that business was strong. And that is in JULY that people are saying this, a month that commonly is slow due to vacations. I was a little bit surprised honestly. On almost every call I make I hear distributors say that all their costs are going up but then they add, “I’m just passing them on”. I’m not sure if larger VMI programs have that flexibility to “just pass it on” but, at the moment, it doesn’t seem to hurting too many people. Again, I’ll admit, I’m surprised.
And tariffs do not seem to be a big concern. I would have expected all the talk of tariffs and “trade wars” to make more people at least a little bit uncomfortable. But I’m not hearing it so far, other than the news regarding farmers. I cover an area with quite a bit of coal business and Oil & Gas. That area is just booming. Booming!
So, we’ll just keep checking in and tossing out some questions on Twitter to check on the pulse of the fastener industry. And, before you know it, we will be in Vegas talking about the latest news and rumors.
Thanks for keeping me informed about the industry with which I was involved since 1981, when the first National Industrial Fastener Show was held at the Ohio Center in Columbus. We had 120 booths for that first show and 10 times that number for my last expo in 2015 at the Sands Expo Center, Las Vegas.
I am pleased that the industry is still thriving, and that distributors, manufacturers reps, and independent sales agents are still alive and doing well.
Love y’all!
Jim Bannister
Kiawah Island, South Carolina
Always great to hear from you Jim!
Thanks, TS.
It was a great ride, and I owe a lot to all the good, solid, people in the fastener industry who supported the expo since its inception.
The USA is the greatest land of opportunity in the world. Period.
I am an 82 year old living example of this.
Keep up the good work and keep me on your mailing list.
Jim B.
FYI, I do not believe there is a 10% tariff, Trump changed it to 25%.
Almost everyone I speak to is saying things are really good. As far as the tariffs are concerned, I think the roller coaster ride of uncertainty is becoming something to be expected and everyone is rolling with the punches. I spoke to a major importer last week and they told me every one of their products, except for the nuts, will be affected by the 10% tariff (possibly 25%).
This is good news, but it isn’t really news. It’s just the state of things as they stood at the close of the previous business day. We don’t hear the train coming until it’s on top of us. We don’t hear about recessions, either, until the reports say we’re in the midst of one. I’m happy the industry is doing well right now. Beware the 4th Quarter.
Just an hour or so after I posted this I saw the FDI was at around 69, a record breaker! Interesting.