12/7/2011 1:47:00 PM
NEWS BRIEFS
Taylor Quotes Rocky to STAFDA: “Keep Moving Forward – That’s How Winning is Done”
It’s about how hard you can get hit, how much you can take and keep moving forward. That’s how winning is done,” Terry Taylor quoted one of his heroes – Rocky Balboa.
“If you could see what I see, you would see an industry hit but not down,” Taylor told the Specialty Tools & Fasteners Distributors Association. “If you could see what I see, you would see economies all over the world, hit but not down.”
Speaking at STAFDA’s 35th annual convention, Taylor noted the association had last met in San Antonio just after 9/11. “Since 2001, we’ve seen our country and economy rally back from a post 9/11 slump to profitable times, then fall into the great recession,” Taylor recalled in his Manufacturer-State-of-the-Industry address.
“While the worst is behind us, the economy remains fragile,” Taylor said. “The housing and construction market was the first industry to go into the recession and it will be the last to emerge.”
At mid-year 2011, the Associated Builders & Contractors predicted construction recovery is two years away. It may be 2015 to return to a “reasonable level of housing supply.”
A key factor in measuring the health of the economy is the first-time unemployment number.
At 350,000 or less is necessary for a healthy economy and 400,000 is considered “stressed.”
In 2007 and early 2008 the number was 325,000 and it hit 400,000 in September 2008. It peaked at 700,000 in April 2009.
“Like Rocky we fight to overcome what seem like overwhelming odds,” Taylor said in adding another Balboa quote: “You had that eye on the tiger … the edge! And now you gotta get it back. And the way to get it back is to go back to the beginning.”
Beyond construction, natural gas and oil exploration sales are up significantly; the refinery, power generation and mining industries “show modest growth; and infrastructure sales are flat.
“A report on our bridges by Transportation for America” identifies 70,000 bridges across the country in need of repair,” Taylor noted. The roadblocks to bridge repair are “budgetary constraints and lack of funding.”
Hand tool sales for 2010 increased 15% from 2009 and up again 15% this year.
“Distributors continue to carry minimal inventory levels resulting in demanding delivery service,” Taylor pointed out.
Beginning with Unpaved Roads
Taylor recalled the history of Wright Tool, starting with tool salesman C. Nelson Wright traveling unpaved roads selling tools from the back of his Ford Model T early in the 20th century. He founded the company in an abandoned building in Barberton, OH.
After gaining from sales to the government during World War II, Wright had to re-build in the post-war period. He did with the Powercraft brand sold through Montgomery Ward.
In the 1980’s Wright’s son, Richard Wright, expanded into the power generation, distribution and transmission, underground and surface mining, drilling and refining and STAFDA channels.
Today the U.S.-made Wright tools are selling well in Dubai, Spain and Russia.
Over the decades Wright Tool has “changed its leadership style from autocratic to inclusive, we have gone from unionized to decertified, from a focus on light retail to a focus on heavy construction and the STAFDA market. We have gone from tech clueless to tech savvy.”
Taylor started with Wright Tool in 1969 as a summer intern. By 2008 Taylor completed purchasing company stock to become CEO/owner.
“We developed Wright Tool University, an online educational training series for distributors to learn about the features, benefits and manufacturing methods behind our tools.”
Training can “help users perfect performance.”
Even hand tools are becoming more technical, Taylor noted. “The advance opening profile places more metal in high stress areas and precision serrations keep the wrench seated on the fastener,” Taylor noted. “This increases torque and reduces slippage, improving safety.”
“All of us in this industry are not the tool industry of the last century. We are not the tool industry of our fathers or our grandfathers,” Taylor said. “We all live at the intersection of a storied past and a technological future.”
It’s about how hard you can get hit, how much you can take and keep moving forward. That’s how winning is done,” Terry Taylor quoted one of his heroes – Rocky Balboa.
“If you could see what I see, you would see an industry hit but not down,” Taylor told the Specialty Tools & Fasteners Distributors Association. “If you could see what I see, you would see economies all over the world, hit but not down.”
Speaking at STAFDA’s 35th annual convention, Taylor noted the association had last met in San Antonio just after 9/11.
“Since 2001, we’ve seen our country and economy rally back from a post 9/11 slump to profitable times, then fall into the great recession,” Taylor recalled in his Manufacturer-State-of-the-Industry address.
“While the worst is behind us, the economy remains fragile,” Taylor said. “The housing and construction market was the first industry to go into the recession and it will be the last to emerge.”
At mid-year 2011, the Associated Builders & Contractors predicted construction recovery is two years away. It may be 2015 to return to a “reasonable level of housing supply.”
A key factor in measuring the health of the economy is the first-time unemployment number.
At 350,000 or less is necessary for a healthy economy and 400,000 is considered “stressed.”
In 2007 and early 2008 the number was 325,000 and it hit 400,000 in September 2008. It peaked at 700,000 in April 2009.
“Like Rocky we fight to overcome what seem like overwhelming odds,” Taylor said in adding another Balboa quote: “You had that eye on the tiger … the edge! And now you gotta get it back. And the way to get it back is to go back to the beginning.”
Beyond construction, natural gas and oil exploration sales are up significantly; the refinery, power generation and mining industries “show modest growth; and infrastructure sales are flat.
“A report on our bridges by Transportation for America” identifies 70,000 bridges across the country in need of repair,” Taylor noted. The roadblocks to bridge repair are “budgetary constraints and lack of funding.”
Hand tool sales for 2010 increased 15% from 2009 and up again 15% this year.
“Distributors continue to carry minimal inventory levels resulting in demanding delivery service,” Taylor pointed out.
Beginning with Unpaved Roads
Taylor recalled the history of Wright Tool, starting with tool salesman C. Nelson Wright traveling unpaved roads selling tools from the back of his Ford Model T early in the 20th century. He founded the company in an abandoned building in Barberton, OH.
After gaining from sales to the government during World War II, Wright had to re-build in the post-war period. He did with the Powercraft brand sold through Montgomery Ward.
In the 1980’s Wright’s son, Richard Wright, expanded into the power generation, distribution and transmission, underground and surface mining, drilling and refining and STAFDA channels.
Today the U.S.-made Wright tools are selling well in Dubai, Spain and Russia.
Over the decades Wright Tool has “changed its leadership style from autocratic to inclusive, we have gone from unionized to decertified, from a focus on light retail to a focus on heavy construction and the STAFDA market. We have gone from tech clueless to tech savvy.”
Taylor started with Wright Tool in 1969 as a summer intern. By 2008 Taylor completed purchasing company stock to become CEO/owner.
“We developed Wright Tool University, an online educational training series for distributors to learn about the features, benefits and manufacturing methods behind our tools.”
Training can “help users perfect performance.”
Even hand tools are becoming more technical, Taylor noted.
“The advance opening profile places more metal in high stress areas and precision serrations keep the wrench seated on the fastener,” Taylor noted. “This increases torque and reduces slippage, improving safety.”
“All of us in this industry are not the tool industry of the last century. We are not the tool industry of our fathers or our grandfathers,” Taylor said. “We all live at the intersection of a storied past and a technological future.” ©2011 GlobalFastenerNews.com
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Related Links:
• STAFDA
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