Summit Notebook
Exclusive outtakes from industry leaders
AUDIO – The Spiral
This has not been a cheerless week — after all, Chicago is a pretty fun place to be.
In reviewing many of the stories, though, from this week’s Reuters Manufacturing and Transportation Summit, one gets the idea that all was gloom in the Windy City.
So, while there have been many discussions this week about opportunities for growth and hopes of better things to come, the situation at many of the nation’s largest manufacturing companies remains pretty serious.
Such was the case presented by Brad Bell, chief financial officer for Nalco Co, a global provider of water treatment services, chemicals and equipment programs for industries.
from Ruben Ramirez:
Change lightbulbs. Save millions.
Norfolk Southern says it is working hard to reduce the rail operator's carbon footprint. CEO Wick Moorman says the company is in the midst of a 2-year, $10 million project to change the lighting in it's facilities...he says he's even changed the lightbulbs in his office. Click here to listen to how much money Norfolk is saving and what else it's doing to be more "green."
Wick from Tony Johansson on Vimeo.
AUDIO – For Nordson — “Get ‘em right, or get ‘em out”
Throughout the current recession, many of the companies’ executives at this week’s Reuters Manufacturing and Transportation Summit have found an opportunity to review, pare back and possibly add on to their existing business mixes.
Such is the case for Edward Campbell, chief executive of Nordson Corp, which has a uniquely diversified set of businesses under its umbrella and is looking at what makes sense for them going forward.
AUDIO – Staying the course at CAT — But it’s a rough row to hoe
Caterpillar Inc Group President Ed Rapp knows that 2009 has been a tough one for his company, but he still thinks they can hit their numbers on revenue and earnings per share.
Speaking at the Reuters Manufacturing and Transportation Summit, Rapp (who, incidentally, has been with Caterpillar for almost 30 years and is still considered something of a “youngster” there!!) said that while there are still many hurdles for the company to avoid in the short term, he thought CAT’s previous guidance was within reach.
AUDIO – GE sees the problems … and the opportunities
On the first day of this year’s Reuters Manufacturing and Transportation Summit, one of the guests told us of the Chinese theory of the word “crisis” — the symbols for which are a combination of “problem” and “opportunity”.
On Tuesday, Vice Chairman John Rice told Reuters that both sides of the equation were in play for GE, but voiced confidence that the company would be able to hit its marks.
AUDIO – What’s going on with the economy? Ask a trucker.
That was the advice from truck manufacturer Navistar International Corp’s CEO Dan Ustian at this week’s Reuters Manufacturing and Transportation Summit in Chicago.
Ustian said the current slowdown has been worse and deeper than expected — even though the trucking industry had a sense that things were starting to go south as far back as 2007.
from Ruben Ramirez:
And we’re off…
The Manufacturing and Transportation Summit in Chicago kicks off our 2009 global coverage of Reuters Summits. Over the next 41 weeks we'll bring you exclusive interviews from around the world with corporate executives, government leaders and others who can give us key insights into what's ahead for their industries. First off, to get us ready for a more in-depth look at the manufacturing industry we spent a day last week in Rock Hill, SC home to two of Terex's (TEX.N) manufacturing operations. Rock Hill is located just about 20 minutes south of Charlotte, NC. Terex Hydra Platforms manufactures a product that looks like something out of the movie Transfomers. Check out the story:
Video – Building for the future
The U.S. is expected to spend an extra $28 billion to upgrade the nation’s bridges and roads and one manufacturer is hopeful some of those dollars will flow their way.
Ruben Ramirez, Reuters, Rock Hill, South Carolina.
SOUNDBITES: Garth McGillewie, Director, Terex Hydra Platforms Steve Hueser, Director, Terex Rock Hill MORE INFO: The latest report card on the nation’s bridges and roads gives them a “D.” The latest U.S. economic stimulus plan includes billions of dollars for upgrading the country’s infrastructure and one manufacturer is hopeful some of those dollars will flow their way.
