January 2009- The market’s falling. We need an economist, stat! The daily reports on the health of the U.S. economy have all the components of a television drama. But don’t call the medical examiner yet. Flat to slightly down may be the forecast for this year, but many are already looking ahead to 2010 before 2009 even starts.
The reasons for considering 2009 prematurely washed up are almost too numerous to count. The downturn in the economy has snowballed much faster than most anticipated and culminated in the announcement that the U.S. economy has been in a recession since December 2007.
Major banking institutions continue to report financial woes, and the future of the Big Three, a group that’s traditionally a big part of our readers’ business, is in question. As of press time, President Bush had authorized emergency loans totalling $17.4 billion for Chrysler and GM.
MM
2009 Survey Methodology
Modern Metalse-mailed 2,508 surveys to a group of service centers, fabricators and OEMs in October 2008. A Garmin nüvi 255w was provided as an incentive, and out of the 767 surveys that were opened, we received a response rate of 12.6 percent or 97 total usable returns. By industry sector, we received usable responses from 34 fabricators, 35 OEMs and 28 service centers.
Those surveyed were randomly selected on an nth name basis from the circulation of Modern Metalsusing the following business and industry classifications: Metals service centers and offices, fabricated metal products (including metal cans and shipping containers; cutlery, hand tools and general hardware; heating equipment and plumbing fixtures; fabricated structural metal products; screw machine products (bolts, nuts, screws, rivets and washers); metal forgings and stampings; coating, engraving and allied services; ordnance and accessories; and miscellaneous fabricated metal products); machinery, except electrical (including engines and turbines; farm/garden machinery and equipment; construction, mining, materials handling machinery and equipment; metalworking machinery and equipment; special industry machinery; general industrial machinery and equipment; computer and office equipment; refrigeration and service industry machinery; and miscellaneous industrial and commercial machinery and equipment); electric and electronic equipment (including electric transmission and distribution equipment; electrical industrial apparatus; household appliances; electric lighting and wiring equipment; household audio and video and audio recordings; communications equipment; electronic components and accessories; and miscellaneous electrical machinery, equipment and supplies); transportation equipment (including motor vehicles and motor vehicle equipment; aircraft and parts; ship/boat building and repairing; railroad equipment; motorcycles, bicycles and parts; guided missiles and space vehicles and parts; and miscellaneous transportation equipment).
Job titles surveyed included corporate officials, president-owner, vice president, general manager, treasurer-secretary, controller, chief engineer, plant manager, production superintendent, department managers, chief metallurgist, chief chemist, engineers, metallurgists, designers, production men, chemists, supervisors, foremen, and purchasing and sales personnel. MM
