Business Briefing

Forecast Your Own Economy
by Art Raymond, araymond@raymondnet.com

What’s so bad about today’s economy?

• 3Q gross domestic product up 4.9 percent – the highest in four years
• Exports for the last twelve months up 11.6 percent
• 1.68 million jobs added in the past year
• Inflation at 1.9 percent within the Federal Reserve’s comfort range

The storm clouds created by the sub-prime credit mess have darkened an otherwise strong economic picture.  Economists are now pessimistic about our economic future.  Fourth quarter estimates of GDP are dropping like stones and some economists are predicting recession in 2008.

Economists rightfully have a mixed record when it comes to forecast accuracy.  One pundit once said, “An economist is someone who will know tomorrow why the things he predicted yesterday didn’t happen today.”  In spite of the reputation for inaccuracy attached to the dismal science, all astute managers must pay attention to economists’ prognostications.  The trick is selecting the right economist to heed or, better yet, to develop a set of economic indicators that show the future for your business.

Joseph Ellis, long-time number one retail analyst on Wall Street, offers some enlightening guidance to those seeking an economic crystal ball:

What is the key to navigating the economic future?  To build a sound forecast Ellis believes you must understand the sequences of events that recur cycle after cycle in the economy.  That understanding enables you to separate the important leading indicators from the less critical lagging metrics.   

Which leading indicator provides the best signal of economic direction?  With 40 years of tracking data, Ellis found that real personal consumption expenditures i.e., consumer spending, always preceded most other indicators by one or two quarters.  In every cycle momentum starts in consumer spending and then moves to manufacturing and capital spending.  These three elements are the drivers of corporate profits.  Once companies feel confident about the economy, they invest and finally add workers.  The employment rate then is a lagging indicator.  Thus Ellis believes that consumer spending drives employment, that workers get hired after business gets good and are fired after business turns poor.

What then drives consumer spending?   The consumer is affected by hundreds of factors such as the stock market and terrorism.  However Ellis claims two drivers are primary - real average hourly wages and interest rates.  Factors like energy prices impact inflation and thus are accounted for in wages and interest rates.

What drives your business?  According to Ellis every manager must identify what part of consumer spending causes his business to move up or down.  For instance a carton manufacturer might look at the year-to-year spending on the kinds of products shipped in paper boxes.  Ellis claims these connections just take good common sense to identify.  Anyone with some knowledge of economics and skill with Excel can explore the causes and effects.

What about the timing of key events like recessions?  According to Ellis we have a ‘recession obsession.’  Strictly speaking a recession is defined as a decline in GDP for two consecutive quarters.  But by the time we are in a recession, most of the slowdown is well behind us.  Like the unemployment rate, the actual recession is a relatively useless lagging indicator.  Most economic damage is done in the quarters immediately after growth peaks and slides toward zero.  By the time you get to a 2 percent growth rate, the crisis is usually near its end.

Learn more about Ellis’ forecasting technique in his book, Ahead of the Curve, and at his web site, www.aheadofthecurve-thebook.com.

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Economic Fact

Americans work hard but are not the most productive in the world.  According to the Bureau of Labor Statistics, U.S. workers rank second only to Norway in annual output per man.  The average American worker produced about $90,000 of output in 2006.  On an hourly basis our output was just over $50 – behind Norway, Belgium, the Netherlands, and France.  Seems our workers are not working as smart as many Western Europeans…

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Sector Report

Kitchen Cabinets
October marks the twelfth straight month of weakness in the cabinet industry.  According to the KCMA’s Trend of Business Survey, October sales fell by 9.4 percent versus the same month last year.  YTD 2007 sales were down 12.5 percent.  For the year stock cabinet sales have fallen just over 20 percent vs. last year while semi-custom and custom have declined only 4.9 percent and 4.6 percent respectively. 
  
At the company level…

• Masco, the largest cabinetmaker in the U.S., saw their 3Q2007 cabinet sales drop by 10.9 percent year-over-year to $736 million.  Despite the decline operating margin climbed to 14.7 percent from 13 percent in the same quarter last year. 
• American Woodmark, the second largest cabinetmaker, reported 2Q2008 sales of $160 million, down a whopping 24 percent from the same quarter last year.  Operating profit, suffering from capacity under utilization, fell by nearly 91 percent to a meager $1.3 million. 

Home Furniture
Furniture Makers ‘Discover’ Customization Strategy – Domestic furniture makers have finally discovered a strategy that cabinet producers have long employed to defend their market share from imports – customization.  For over 10 years U.S. cabinet companies have offered a wide assortment of styling, colors, wood species, and configuration made strictly to a consumer’s order.  Now Henredon, a Furniture Brands company, and Braxton Culler, a privately-held upholstery and case goods maker, have introduced customization programs.  Henredon’s effort, called Bespoke, aims to broaden their offering to the upscale design community.  The line will include wood and upholstery.  Braxton Colors is an expansion of Braxton Culler’s color palette and is available on all unfinished items stocked in their North Carolina warehouse.

AHFA Opposes Proposed Timber Law – While all right thinking people oppose the use of illegally harvested timber, a recently introduced bill in Congress places the responsibility for policing this trade with U.S. wood users.  The American Home Furnishings Alliance is concerned that H.R. 1497 penalizes U.S. companies because foreign governments are not enforcing timber harvesting laws.  Most of these businesses have neither the time nor the resources to verify the chain of custody of lumber and other wood products back to their sources in foreign countries.  The International Wood Products Association also opposes this bill, which is currently in the House Natural Resources Committee.

China Feels New Pricing Pressure – As reported in earlier editions of Business Briefing, Chinese furniture producers are facing a number of pressure points on their profitability.  In addition to rising labor and materials costs these include:

• A surcharge on sales volume to motivate the enforcement of anti-pollution regulations. 
• The 9 percent increase in the Yuan’s value vs. the U.S. dollar.
• The reduction in rebates of value-added taxes that previously stimulated exports.

Industry analysts are predicting that these higher costs will show up as higher prices on U.S. furniture retail floors in 2008.  Will this change bring relief to remaining domestic producers or simply encourage the shift of production to lower cost countries like Vietnam?  Stay tuned…

At the company level…

• Furniture Brands announced a 9.2 percent decline in 3Q2007 sales.  A loss of $1.7 million at the operating level was reported.  Management said that back office operations will be consolidated and a new product development strategy implemented.  Mid-priced brands Lane and Broyhill will target traditional furniture stores and mass-market retailers.  Higher-priced Thomasville and Drexel Heritage lines will be sold in dedicated stores while upper-end Henredon, Pearson, and Hickory Chair will be sold through designers.  This effort is directed at shifting the company from a manager of a portfolio of furniture companies to a true operating entity.
  
  
• Ethan Allen announced a 2.4 percent increase in 1Q2008 revenues while net income rose by 108 percent.  Sales of company-owned stores which are about half of their total retail exposure, grew by 10.1 percent.  Retail operating margin of 0.5 percent reflected the difficult furniture environment in the U.S.  The company announced the acquisition of a 40,000 square foot leather cut and sew plant in Mexico.  Domestically EA continues to operate two saw mills and seven furniture plants.  The case goods factories have resumed 40-hour work weeks.
  
  
• Stanley Furniture reported a 3.6 percent drop in its 3Q2007 sales.  Operating profit fell nearly 37 percent to 4.3 percent of sales.  Management announced the closure of its 300,000 square foot Martinsville, VA, plant and the idling of 250 workers.  Lines produced at that plant will be consolidated to the company’s million square-foot Stanleytown plant.
  
  
• Ashley Furniture has dedicated a 178,000 square foot expansion to its Ecru, MS, upholstery plant.  The total area of the plant is now 1.8 million square feet making it the largest upholstery operation in the U.S.
  
  
• Hooker Furniture has purchased the assets of New York-based importer Opus Designs.  Opus, with annual sales of $6 million, focuses on mid-priced youth furniture, a price point that will complement Hooker’s SmartKids brand.
  
  
• Manufacturer-importer Vineyard Furniture International will begin producing upholstery in a 30,000 square foot plant in Ripley, MS.
  
  
• The weak U.S. retail environment plus the strong Canadian dollar are stinging Canadian furniture makers.  Shermag reported a 40 percent decline in sales in its 2Q2008 and a C$3.7 million operating loss.  For the first half of FY2008 sales were off by 35 percent.
  
  
• Chromcraft Revington reported a 3Q2008 loss of $2.1 million as sales dropped 20 percent.  The company is continuing to reduce its reliance on U.S. production as it accelerates the shift to an outsource model.

Office Furniture
BIFMA, the sector trade association, reported October orders for office furniture up 6 percent over the same month last year.  Shipments increased by 7 percent.  The nice October performance followed a flat September when orders were essentially unchanged from 2006.  Most producers are experiencing sluggish North American demand.  However, analysts point to strength in the primary economic drivers – corporate profits, non-residential construction, and white collar employment – as supportive of continued industry growth.  BIFMA’s own forecast indicates that 2007 demand will be 4.9 percent with 2008 coming in at 0.5 percent.  The industry is shipping at an $11.335 billion rate vs. $13.35 billion at the historic top in late 2000.

At the company level…

• HNI Corporation (formerly HON Industries) announced office furniture sales of $559 million in its 3Q2007, a 4.2 percent increase.  This product segment accounts for 75 percent of total revenues.
• Knoll reported 3Q2007 sales up 4.25 percent vs. the same period last year. Operating margin rose to 13.5 percent.

Wood Flooring
NOFMA, the primary flooring industry association, has ceased reporting monthly strip flooring production data.  When an alternative source for this information is identified, Business Briefing will resume reporting this indicator of flooring industry health.

At the company level…

• Mohawk Industries reported 3Q2007 sales of its Unilin laminate flooring at $378.4 million, up over 29 percent from the same quarter last year.  Operating margin on laminate flooring sales jumped to 18.8 percent, up from 17 percent last year. 
  
  
• Armstrong World Industries announced that its wood flooring sales totaled $191.9 million in 3Q2007, a 12 percent decline from the same quarter last year. 

• Producer Wood Flooring International of Burlington, NJ, is closing its business and laying off 30 workers as a result of the bankruptcy of Hoboken Hardwood Floors, the largest U.S.
  distributor of hard floor coverings.  WFI had expanded aggressively over the past three years
  
  
• The North American group of Tarkett International has been acquired by private equity firm New Stream Capital.  The acquisition includes the company’s three plants operating under the name Tarkett Wood.

Non-Residential Construction
Moody’s Investor Service reported that the commercial real estate market is feeling the effects of the credit crunch.  Developers are seeing stricter credit terms e.g. the requirement to put up 25 percent of a project cost vs. 10 to 15 percent in mid-2007.  Issuance of commercial mortgage-backed securities fell to $6.2 billion in October vs. $34.4 billion in August. 

Most industry experts believe that any correction will be minimal.  Favorable interest rates and tight supply of properties will continue to motivate commercial property development.

In the meantime, Reed Construction Data reported that spending on healthcare facilities will continue to expand faster than the overall economy.  Spending on hospitals is up 14 percent; on nursing homes and other residential facilities, up 6 percent; and medical buildings, up 1 percent. 

Public Policy

When we gather in Washington for the Fly-In, we are going to make another push to convince Congress to pass permanent estate tax relief.  As we all know, the estate tax is on a “glide path” to repeal in 2010 but in 2011, it rockets back up to the levels at which it was in 2001.  Currently, the first $2 million per individual is “exempt” from the estate tax, and the rate on the remainder is 45 percent.  In 2011, the rate would rise back to 55 percent, and the exemption would drop to $1 million.

We have said for years, the “costs” of estate tax planning are worse than the tax itself.  The amount of money and effort that goes into estate planning is all wasted dollars.  Families often find themselves dealing with illogical business structures just to keep the business viable.  The current “phase out-repeal-and return” situation has made the situation three times as bad.  Prudent estate tax planning dictates that a business owner should have one estate tax plan for the period through 2009, one for 2011, and yet another for 2011 and beyond.

In 2004, for which the last data were available, 19,294 federal estate tax returns were filed.  This was roughly less than one percent (.80 percent) of the potential estates.  In 2000, before the relief was enacted, the ratio of estate tax returns to deaths was 2.12 percent.  In 2011, if nothing is done, the number rises to 61,000 taxable estates a ratio of 2.48 percent.

In 2006, revenues from the estate tax were about $27.8 billion which constituted roughly 1.1 percent of all tax revenues.  As points of comparison, in 2000, about $26.5 billion was collected, which constituted 1.4 percent of all tax revenues and in 2004, $24.8 billions was collected which constituted 1.3 percent of all tax revenues.

Congress’ Joint Committee on Taxation surveyed what other countries do and found that inheritance tax is more common than an estate tax, as is imposed in the United States.  An inheritance tax generally is imposed on the heir who receives a bequest; the tax generally depends upon the size of the bequest received.  The United States also imposes a generation-skipping tax in addition to any estate or gift tax liability on certain transfers to heirs two or more generations younger.  This effectively raises the marginal tax rates on affected transfers.  Countries that impose an inheritance tax do not have such a separate tax but may impose higher rates of inheritance tax on bequests that skip generations.

The committee compared total revenue collected by selected countries from estate, inheritance, and gift taxes to total tax revenue and to gross domestic product (“GDP”) in an attempt to compare the economic significance of wealth transfer taxes in different countries.  Among these selected countries, in 2005, Belgium, Finland, France, Japan, the Netherlands, Spain, and the United Kingdom collected more such revenue as a percentage of GDP than did the United States.  Denmark, Germany, Ireland, Korea, Luxembourg, and Switzerland collected modestly less revenue from such taxes as a percentage of GDP than did the United States.  The remaining 16 countries collected less than half as much revenue as a percentage of GDP from such taxes as did the United States.  As a percentage of tax revenue, Belgium, France, and Japan relied more heavily on their estate, inheritance, and gift taxes as a revenue source, although the Netherlands, Spain, and the United Kingdom each collected at least seven-tenths of one percent of total tax revenue from estate, inheritance, and gift taxes.

As the Joint Committee on Taxation has noted, Federal taxes on transfers at death in the United States, for most of its history, were imposed primarily to finance wars or the threat of war.  The first Federal tax on such transfers was imposed from 1797 until 1802 as a stamp tax on inventories of deceased persons, receipts of legacies, shares of personal estate, probates of wills, and letters of administration to pay for the development of strong naval forces felt necessary because of strained trade relations with France.  After repeal of the stamp tax, there were no death-related taxes imposed by the Federal government until the Civil War, when the Federal government imposed an inheritance tax between 1862 and 1870.  In order to finance the Spanish-American War, the Federal government imposed its first estate tax in 1898, which remained in effect until its repeal in 1902.

Since 1916 when the estate tax was reinstated, it basically has been “all downhill,” until the prospect of repeal in 2011 was dangled before us.  It does not look like we have much hope for permanent repeal and it is clear temporary repeal is more heartburn than it is worth.  Bottom line, come to Washington and help us secure meaningful permanent estate tax relief in the form of a $5 million exemption per individual.

 

WMMA's Public Policy Fly-In: Save the Date!
WMMA will hold its annual Public Policy Fly-In on February 13th, 2008 in Washington, D.C.

The Fly-In will be preceded by two days of WMMA Board and Committee meetings on February 11th & 12th.

The goal of this event is to educate our lawmakers on the significance of manufacturing to maintaining our prosperity, and press them to enact policies that reduce the cost of producing in America….level the international playing field … promote innovation and investment in America… and ensure an adequate supply of skilled workers for our manufacturing base.

Make your voice heard on Capitol Hill as you lobby for the positive future of U.S. manufacturing. Mark your calendar today to attend one of WMMA's most influential events!

 

Business Development

Gross Domestic Product – 3rd Quarter 2007
Real gross domestic product -- the output of goods and services produced by labor and property located in the United States -- increased at an annual rate of 4.9 percent in the third quarter of 2007, according to preliminary estimates released by the Bureau of Economic Analysis. In the second quarter, real GDP increased 3.8 percent.

Housing Start Update
The October Housing Starts data reflects a better-than-normal bounce from the previous month and a less negative year-over-year comparison in the monthly data and the 12MMT.  There was a resulting improvement in the 1/12 and 12/12 rates-of-change.

New Residential Construction in October 2007
Building permits in October 2007 were 1,178,000, down 6.6% from September and down 24.5% from October 2006.  Housing starts were 1,229,000 up 3.0% from the previous month and down 16.4% from the previous year.

Manufacturers’ Shipments, Inventories and Orders for October 2007
New orders for manufactured goods in October 2007 rose 0.5% to $423.5 billion. Shipments rose 1.0% to $422.3 billion. Unfilled orders rose 1.0 % to $779.5 billion. Inventories increased 0.1% to $520.0 billion.

Purchasing Managers Index November 2007
The November PMI came out yesterday and the news is good!  We are seeing some solid improvement in the rates-of-change and the Index itself is still above 50.  This will be the last PMI before Christmas, so take it as an early Christmas present!

Learn How to Build an Online Marketing Machine™

Over half of manufacturers consider their Website as their most powerful marketing tool.   Do you?   This informative Webinar will provide you with a practical roadmap for transforming your Website into an online marketing machine.  View the Webinar in full or in parts at:  http://wmma.svmsolutions.com/resources/webinars.asp

Visit the WMMA Online Marketing Resource Center to learn how to harness the power of search engine marketing, a customer-focused Website, email marketing and Web analytics into an integrated marketing system that will continually generate new business, strengthen relationships with customers and maximize the results from your marketing investments.

R & D Tax Assessment Tool

The WMMA, through a partnership with the Black Line Group, is offering a variety of R & D Tax Credit services to the membership. The latest is a “do-it-yourself” Tax Assessment Tool which will help you evaluate your company’s ability to earn tax credits. Take two minutes to complete this short questionnaire and find out how your company stacks up and more importantly if your company is leaving thousands of dollars on the table each year. When you complete this quick assessment tool you will know if you should explore the R&D Tax Credit and if there is an opportunity for your company to recover cash and/or reduce future liabilities. To access the Tax Assessment Tool – Click Here

• Read more on the R&D Tax Credit
• Review real-life success stories
• Contact Black Line Group to ask questions or schedule an appointment to review your company’s qualifications.
• Visit the IRS website and search on R&D Tax Credit.

International Business Development

US Import and Export Trade Statistics: 3rd Quarter Review

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The following is a summary of major trends of US exports and imports for the January – September 2007 period.  Statistics are reported for all woodworking equipment and its three component parts: machines, cutting tools and, accessories and parts.  A separate column in this Cutting Edge issue summarizes global trade trends, especially exports of major European competitors, Germany and Italy.

(WMMA members:  to view detailed tables on US imports and exports of machinery, cutting tools and parts and accessories, by country visit http://www.wmma.org/members/imports_exports_acces.cfm. You will need your user name and password.  If you don’t have one or forgot it, contact WMMA Headquarters at 215-564-3484 or email info@wmma.org).

Harold Zassenhaus is available to provide U.S. export and import data on specific product categories.  For more information, contact him at (301) 652 0693; or email zemg@erols.com.

Total Woodworking Equipment Trade

Imports of woodworking equipment (machinery, cutting tools and parts and accessories) dropped by 9% over the first nine months of 2007 compared to the same period in 2006 totaling $1.2 billion.  Imports from China grew 15% to $346 million and accounted for 29.  Imports from Taiwan grew 9% to $214 million and accounted for 18%.

The large majority of Chinese imports continue to be small commercial products like simple miter saws, scroll saws, band saws, etc. each valued at under $1,000.  However, the Chinese are increasingly producing and exporting more sophisticated and industrial grade machinery.  For example, we imported close to $4 million of machining centers over the 9 month period.

Imports from other leading suppliers, including Western European nations continued to drop (from 10-25%) reflecting a strengthened Euro and, perhaps a stalling US woodworking industry.

Exports recorded modest growth through the third quarter, growing by 7% to $284 million.  Canada exports continued to hover around $100 million for the period but its share continues to decline.  For the 3 quarters, Canada accounted for about one-third of our exports.  Other top markets included: Mexico, Japan, Australia, China, Germany, Poland, the Netherlands and the UK.

Machinery Trade

Imports of machinery totaled $738 million through September, a 5% decrease over the same period 2006.  Imports from China increased by 20% to $211 million and accounted for over 28% of total imports of machinery.  Imports from Taiwan also bucked the trend to increase 12%.  Together, China and Taiwan accounted for nearly 55% of imports.  Shipments from our other major suppliers declined or remained constant.  In particular, imports from Canada dropped 38% and accounted for 3% of total machinery imports.  Imports from Germany and Italy dropped 22% and 26%, respectively.

Exports increased by only 6% despite large swings in the value of the dollar compared to the Loon and Euro.  Exports to Canada alarmingly dropped 15% to $30 million.  To make up for our dismal performance in Canada, shipments to the following countries recorded excellent growth: Mexico (9%), Australia (21%), UK (34%), China (71%), Sweden (98%), Germany (17%), Belgium (152%) and New Zealand (159%).

Cutting Tools

Cutting tools imports continued to increase, albeit marginally to $383 million.  Shipments from China increased 18% to $105 million and imports from Germany, our second leading supplier, increased 4% to $46 million.  Together, China and Germany account for about 40% of imports.

Exports increased marginally for the period to $90 million.  Whereas Canada accounted for over 50% of exports just two years ago, we now ship less than 40% to our neighbor.  Significant growth markets for the period included: the Netherlands, China, Japan, Sweden, Australia, Brazil and Singapore, the last country an intermediary port for shipments to Malaysia and Indonesia.

Parts & Accessories

Imports dropped a dramatic 47% to $94 million over the period.  Imports from our top 5 suppliers, China, Canada, Germany, Taiwan and Italy each declined.

Exports increased by 20% reaching $70 million. Major growth markets included Canada, Japan, Mexico, Poland, China, Australia, Germany and Bolivia.

Association News

Nominations Now Being Accepted For the 2008 Baldwin Award

The WMMA® Baldwin Award is named for Ralph B. Baldwin, long-time member and Past President of the WMMA®.  During his career with Oliver Machinery Company and his involvement with the WMMA®, Ralph exemplified the kind of commitment that really makes an Association function at, or near, its peak potential.  It is in the spirit of Ralph Baldwin's vitality and dedication to the woodworking industry that this award was created-to recognize those who have contributed similar levels of involvement and to encourage others to do the same. The award's significance can be quickly determined by the prestigious list of recipients.

Nominate the individual you believe is deserving of this prestigious industry recognition.  The award seeks to honor individuals who have made outstanding contributions to the industry, regardless of their affiliation with WMMA.  Some activities that warrant consideration are: leadership in WMMA or the IWF Board, active committee involvement, innovations introduced to the industry, and participation in programs that benefit the industry.  Please submit your nomination to WMMA by February 27th.
Download Baldwin Award Competition Rules
Download Baldwin Award Nomination Form

Nominations to WMMA Board of Directors Now Open

WMMA’s Leadership Development Committee is preparing the slate of Directors for the Board term expiring in 2011.  Peter Perez, Chairman of the Leadership Development Committee, is open to your suggestions on who the committee should consider for these openings.  Your suggestions should include members who have been active in the Association and its activities.

These individuals should be known for their character, strength and integrity.  They must also embrace change, while maintaining the strengths of the existing organization and identifying the key challenges facing the Association and industry.  Nominations should be sent immediately to Mr. Perez, c/o Carter Products Co. Inc., 2871 Northridge Drive NW, Grand Rapids, MI 49544-9109 or via fax (616) 647-3387 or via email at perez@carterproducts.com.

IWF 2008 Reminders

April 1, 2008 – 2008 Challenger Award entries (earlier than in previous years to allow more press coverage).  Entry brochures were mailed to exhibitors in October.  To request a package, contact IWF at 404-693-8333 or at iwf@iwfatlanta.com

17th Annual Woodworking Industry Conference

The 17th Annual Woodworking Industry Conference will be held April 23-26, 2008 and is the premier forum for education and networking. Attending the WIC '08 at La Quinta Resort & Club Palm Desert, La Quinta CA is the right choice for your business.

Full registration details will be mailed next month.  In the meantime, to read about this year's program, visit the WMMA WIC website.  Make your hotel reservations today!  The WIC room block is limited... we urge you to book your rooms as early as possible.

Members Only Bulletin Board and Job Bank Expand your Reach

WMMA reminds members of two enhancements to the WMMA website, available to Members only.
The Bulletin Board and The Career Center are designed to:

• increase the exposure and the possibilities of response to questions you have about products, services, human resources issues, trade show marketing, or any other matter of interest to your company
• help you fill open positions at your company with qualified, experienced workers

These two member benefits open up the communication among the entire WMMA community, providing you even more value through your membership.  How to use these features to your company’s advantage:

Do you have a current job posting in your company?  Go to http://www.wmma.org, and click on “Career Center” along the left hand navigation bar.  The next steps are explained on the web pages to follow.

Do you want to solicit the feedback of all members about an item of interest to your company?  Go to http://www.wmma.org, click “Members Only” and select the last option, “Member Bulletin Board.”  You will be asked to accept a disclaimer about the content permitted on the site.  PLEASE READ THIS DISCLAIMER every time you go to post.  You can then simply post your message as indicated.

Member News

Midwest Sandright Announces New Patriot Partner Program

Midwest Group One has hired Dennis Kudzy as sales manager to oversee the unique, new Patriot Partner Program.  The program was recently launched to market the world-class design and durability of Midwest Sandright's wide belt sander line made in the U.S.A.

The program is designed to maximize value to the end-user through domestic production, stocked inventory, 24-hours parts guarantee, and local service support.

Midwest Sandright would like to welcome Mark Kraft of Millwork Specialists in Mosinee, Wisconsin, Jim Besonen of Wood Machinery Systems in Minnetonka, Minnesota, and Bob Rougvie of Woodshop Machines in Bow, New Hampshire, as its newest Value Added Resellers for the Patriot wide belt sander line.

WMMA welcomes your company news.  Feel free to forward changes in personnel, promotions, branch openings, or company awards.

Download the Newsletter Information Form and forward to WMMA Headquarters for the next issue of the Cutting Edge.