Dear TCMA Officers, Board, Membership, Staff
and Fellow Cast-Metals Travelers—
Several weeks ago I sent out a letter urging all to look upon the bright
side and to “keep the faith” during the recent difficult times in our
beloved Texas Cast-Metals Industry. In essence, we have all seen
down-turns before and lived to tell about it. These periods are cyclical
and I advised that the sun will indeed come up tomorrow (and you need to
be around to see it!). I also attempted to illustrate—with hard data AND
anecdotally—that a vibrant economy depends upon spending at all
purchasing levels; and that spending depends upon optimism. Lack of
spending equals lack of optimism; and this attitude can even have
‘self-fulfilling’ characteristics.
Well, unless you’ve been living on Mars, you know that the latest US
Presidential Election cycle has been completed and (in astounding
opposition to Conventional Wisdom) the Pro-Business Republican Candidate
has soundly prevailed, the electorate has sent a message loud and clear,
and confidence in Our System has been restored!
Indeed, we can already see evidence of renewed commercial optimism in
the ‘Market’ (ie, the day after the election—and after many weeks of
value vacillation—the Market closed at an all-time high) and growth
trends in other ‘leading indicators’ (copper futures—ie, ‘King Copper’
the indicator of sales of consumer good, housing, retail, automotive and
etc—continues to experience it’s steady growth cycle of approx. 25%).
Gold continues a downward trend (the ultimate mixed-blessing indicator
of consumer confidence). The Fed will surely raise the Prime Rate next
quarter (yes, I’m one of those heretics who believes that
ridiculously-low interest rates are a BAD thing) and this will act as a
counter to the current ‘de-flationary’ trend. Fuel prices are already on
the up-swing; of course this ultimately means more ‘spending’ at the
pump, but it is widely accepted that stagnant fuel & energy prices are
an artifact of a stagnant economy.
Accordingly, as we head (faithfully, hopefully, and with renewed
confidence) into the next ‘bull’ economic cycle, it’s time to consider
once again the ad velorum blessings and benefits of your TCMA
Membership. You may rest assured knowing that Your Chair, Your Board and
Your Staff will continue to be vigilant and effective, and keep you
informed of the Pro-business, Legislative and Regulatory issues
affecting our beloved Texas Casting Industry.
We cannot do this without you. SO please take the time to renew those
memberships today.
In closing I want to say that my First Year
of tenure as your Chair has been very rewarding due to your generous
support, and I want to wish you and yours a beautiful Holiday season,
good health, prosperity and clear sailing!
Owen Daniel,
GM, Midland Mfg; TCMA Chair; NFFS GAC; SBAC Chair
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