Issue link: http://read.dmtmag.com/i/101441
Tight Credit, U.S. ���Cliff��� Keeps Uncertainty and Rental in High Gear Regions AED directors weigh in on regional business conditions, with an industry overview from AED���s 2012 Chairman U.S. Resources Are a Reminder: Our Future is Bright Larry Glynn 2012 AED Chairman President, CMW Equipment, St. Louis, Mo. One of the advantages of being the chairman of AED is the many opportunities to meet and hear from a lot of new people. I have sat through a lot of meetings and learned much throughout the year. For much of 2012, especially in Washington D.C., what I heard was not encouraging. In the fourth quarter of every year I work very hard to try and figure out what the coming season will bring. I talk to lots of customers, vendors, government officials, bankers and developers. Most of what I heard in 2012 was not making me feel very positive about 2013. We all know the areas near oil, gas and agriculture were enjoying some business, but those economies cannot support the whole U.S. Most of our customers do not have a lot of faith in the near future because of politics and the fiscal cliff. I also attended the AEM convention this fall in Southern California. A presentation by Peter Zeihan on geopolitics was most enlightening. Our manufacturers are more global than their distribution. My company worries about the Midwest and my suppliers worry about the world ��� until they come in for my annual reviews. Zeihan gave an excellent talk comparing all the major countries of the world based on their energy supplies, agricultural potential, network of rivers to move products in and out of each country, and their demographics. When this presentation was over I knew that no politician or Congress could possibly ruin our potential in the years to come. Don���t get me wrong; politics can make everything more difficult and slow everything down, but assuredly we live in the greatest country in the world. The Unites States, as we heard at the Executive Forum, will become a net exporter of oil and gas by the year 2020 in spite of our government. The U.S. is the largest agricultural producer and exporter in the world with one of the best navigable river systems to get product to the world markets. Our population demographics compared to many other major countries bodes well for us for years to come. The U.S. dollar is a global currency. We have the largest consumer market and the largest military force in the world. No other country in the world comes close to having the natural advantages we have. China is not even close. When I was done listening to this man, I knew that our future is bright. It is just a matter of time. As I have mentioned before, I learned the hard way that our industry���s good times come in waves. You just have to tread water until the next wave comes along. Well, I believe there is a big wave coming in our future. I can���t tell you when exactly, but I plan on being a part of it and riding for all it is worth. Good luck in 2013 and keep an eye out so you can see the wave coming. n 42 | www.cedmag.com | Construction Equipment Distribution | January 2013 42_Directors_Reports_Feature_KP.indd 42 12/21/12 1:38 PM