International Door & Operator Industry

SEP-OCT 2013

Garage door industry magazine for garage door dealers, garage door manufacturers, garage door distributors, garage door installers, loading docks, garage door operators and openers, gates, and tools for the door industry.

Issue link: https://idoi.epubxp.com/i/177021

Contents of this Issue

Navigation

Page 52 of 110

This article originally appeared on Inc.com. 9 Reasons to Be Optimistic About the Economy The economy isn't so bad. There are a lot of things going on that should put you in a better financial mood. continued from page 49 4. The car industry is booming. Ford reported record profts in North America--its secondquarter net income increased 18.5 percent to $1.2 billion, compared to a year ago, and the company is on pace to bring on 3,000 new salaried positions. Not to be outdone, General Motors also reported a $1.2 billion proft. Employment in the durable goods sector for motor vehicles and parts increased in July to 818,000, the highest employment level in that sector since October 2008. Over the last quarter, employment in the US auto industry has increased at an annual rate of 10.8 percent. 5. The U.S. is now an oil exporter. U.S. oil production is booming, creating thousands of jobs, cheaper energy, and a more secure future. The number of oil and gas extraction workers increased in July to 196,400, which is the highest number of direct energy-related jobs since January 1988, more than 25 years ago. 6. Recent surveys are reporting optimism. Price Waterhouse reports that private companies' optimism about the U.S. economy's 12-month outlook rose for the third consecutive quarter. A new National Association for Business Economics survey showed that business activity increased at its fastest pace in a year in the frst quarter of 2013, and U.S. chief fnancial offcers are more optimistic about the economy as frms continue to expand globally, according to the latest Bank of America Merrill Lynch CFO Outlook. A report this week from the National Small Business Association shows an improved overall economic outlook for America's small-business owners; 40 percent of smallbusiness owners said today's economy is better off--the highest it has been in fve years. 7. Major European trading partners are doing better. Britain's economy is on the mend and its consumer confdence jumped. French business confdence has increased to a 15-month high. Spain's unemployment fell for the frst time in two years. And European stocks are at a nineweek high. 50 International Door & Operator Industry™ 8. Interest and infation remain at historic lows. You can say what you want about the Fed. You can wonder just how it'll unwind us from the past few years of unprecedented monetary easing. But don't deny this: interest and infation are really low (in fact, they are at historical lows) and show no signs of signifcantly fuctuating, at least in the near term. It's still not easy for many startups to get funding, but if they can, the money is cheap. I just re-fnanced my mortgage for 3.5 percdent! Of course, in a slow-growth economy there's not much of a demand for fnancing, but for those looking for money it's a great time to borrow. 9. The stock market is at an all-time high. Maybe it's because of the Fed's easy money. And because there are not many alternatives for where to sink your cash (unless you enjoy earning .1 percent in your savings account). So maybe that's what's driving the markets. But who cares? Only a few short years ago the Dow was just over 6,000 and now it's past 15,000. A rising stock market makes people feel richer and more confdent. It spurs deals. It creates wealth. When customers are feeling richer they're more open to buying my products. That's a good thing. So stop being so pessimistic. The economy's not doing too bad. And the Phillies can make up those 17 games before October. GENE MARKS is a columnist, author, and small-business owner. He oversees the Marks Group, a 10-person technology consultancy to small and medium-size businesses. A certifed public accountant, Marks has also worked in the entrepreneurial services arm of KPMG. He writes for The New York Times, Forbes, and The Huffngton Post. @genemarks

Articles in this issue

Links on this page

Archives of this issue

view archives of International Door & Operator Industry - SEP-OCT 2013