By Lloyd Graff I think we got an important signal Tuesday when Bank of America decided not to raise credit lines for McDonalds franchisees to buy new equipment such as coffee machines. They’re keeping credit lines as they are – that doesn’t mean they’re cutting them, it just means they’re not raising them as a general policy. This is important because it shows that the Wall Street mess is starting to filter down to the lending habits of major banks. I think this is going to affect industrial equipment purchases because it affects the money available to borrow. It’s going…
Author: Noah Graff
Today’s Machining World has produced a video that will give you insider tips on using public transportation to get from O’Hare airport to downtown Chicago and then from downtown to IMTS at McCormick Place. There are also recommendations on some great restaurants close to the show.
August 21, Chicago’s NPR station ran a short blurb about how manufacturing’s seemingly continuous slowdown has caused many shops to let go of workers in recent months. Hearing stories like this over and over supports the notion that one of the difficulties in urging a young generation workforce to enter the manufacturing industry is not only caused by manufacturing’s image as dirty, monotonous and underpaid, but also by the general news being presented to the public everyday. Who would want to commit one’s life to jobs that are portrayed as traditionally difficult and also declining? Most people make little effort…
Dartmouth economics professor Andrew Bernard has come up with a mathematical system to predict the medal standings of the Olympics. He has tested his formula on the Olympic games dating back to 1960, and claims it has an accuracy of 96 percent.In the formula he equates athletes to complex machines. You need materials to build the machines, which are people, meaning countries with large populations have an edge. Then you need resources, which is a country’s income, to the produce the people into great athletes. The “machines” last a while, so past results are another factor. The final factor is…
Just days after Toyota said their U.S. sales dropped 18.7 percent, Toyota is cutting 800 jobs at a unit making Lexus vehicles. It’s the first time Toyota has let go of contract workers before their contracts are up. This is yet another indicator of a sliding U.S. auto market, as Toyota has historically grown during previous recessions. In the following video John Casesa, Managing Partner of Casesa Shapiro Group, elaborates more on the future of the U.S. auto industry. He discusses automakers shifting production from SUVs and trucks to that of smaller fuel efficient cars, the changes in American car…
At Hurco’s open house July 25, 2008, the Today’s Machining World staff interviewed Hurco technical supervisor Paul Gray, who demonstrated how to a use a VMX42SR vertical machining center to create this bust of a head.
A recent survey from Charles Schwab, showed that a growing number of young American workers believe that the government is not going to take care of them in retirement. According to Liz Ann Sonders, chief investment Strategist at Charles Schwab, resources that people have historically counted on for retirement such as employers, inheritance and the government, are less reliable in today’s economy. This has caused more people to pay close attention to their personal money management and educate themselves about investment strategies. Source: TheStreet.com Question of the day: Are you scared about your quality of life after you retire?
Go Industry is handling an online sale expiring July 24, for Hardinge Corporation.Hardinge appears to be cleaning house up in Canada at the site of their former distributor in Ontario, Darbert Machinery of Mississauga. Hardinge has opted to handle the distribution of its products in Canada themselves.In Elmira the company is selling three CNC Swiss type lathes, a 25mm and two 16mm new in the mid 1990s. Hardinge brought in a private label Tsugami Swiss type for a few years but never made the commitment to go into the sliding headstocks in a big way. Had they made the push…
As Starbucks scrambles to regain footing in today’s cut-throat coffee war by refocusing on its roots – its coffee – it will soon be wheeling out a secret weapon. A new coffee maker called the Clover has been invented, which supposedly puts all other coffee makers to shame. The $11,000 machine allows the user to program three key brewing variables: dose, water temperature, and brew time. After the coffee steeps, a piston mechanism extracts the liquid from spent beans, resulting in a fresh cup in less than a minute.Starbucks CEO, Howard Schultz fell in love with the machine, and in…
Hardinge Inc. has made a significant change in management bringing in Rick Simons as CEO, a veteran of the company who had left to go to Carpenter Technology Corporation for three years before coming back ultimately to replace Pat Ervin.Hardinge stock has been on a long plunge over the last year. Simons appears to be a popular change from the old regime. Under Ervin, Hardinge focused on developing its worldwide business and had acquired prestigious Swiss brands like Kellenberger and Tschudin, but the North American machine tool business had decayed from the Haas onslaught on the less expensive end of…