Three Key Observations to take-away from the 2017 FMA Annual Meeting

By Dr. Chris Kuehl

Now that the second line parade of folks in the fabricating world is a part of NOLA history, what can be gleaned from those three days of meetings? Quite a bit, to be honest, so this will be a report from the front, so to speak.

Last month I had an opportunity to present three times to audience members of FMA’s Annual Meeting in New Orleans, so now I know for sure that people in this industry have a lot of patience and tolerance, but this afforded me an opportunity to listen a lot as well. Three sets of observations come to mind.

The first is a sense of cautious optimism. The years of an administration that was at best ambivalent toward business and at worse downright hostile are over. There are definitely mixed opinions about what happens under Trump, but thus far the promises are looked upon as encouraging. That said, there is doubt that many of the promises will be kept because of fierce opposition from many quarters and lack of faith in Trump’s diplomatic skills. Still, there is hope that some of the big issues will get the attention deserved — trade patterns, regulation, and taxes at the top of the list.

The second observation is that people will stay at the top of the list of worries; it is harder than ever to find the employees needed. Manufacturers aren’t finding qualified and eager job seekers no matter what they offer to pay. The powers that be have not yet addressed this problem, and that is immensely frustrating.

The third set of concerns revolve around the future and whether we are ready for developments we have not seen in over 10 years. Interest rates will be higher for the first time in over a decade, and inflation will be rearing its ugly head sooner rather than later. Add in the ramifications of a trade war or two and the concern many have expressed that the progress seen thus far could come to a screeching halt.

The word that I heard more often than any other was “fragile.” Things look good now, but it all seems too tenuous, and that inhibits people when it comes to spending, hiring, and growing.

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