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.
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.
AUDIO-Looking for a bottom? Keep looking…
The U.S. is more than a year into the current recession, but things are still looking nasty. At least that’s what Bill Zollars, chief executive of trucking company YRC, believes.
The trucking industry has been in pain since late 2006, due in part to the flagging auto and housing industries. It could also be expected that the sector should see a pick-up before the broader economy, but the environment has remained difficult, Zollars said at the annual Reuters Manufacturing and Transportation Summit held in Chicago.
