The massive erosion in the U.S. economy has toppled many of the largest companies and left many others weak and vulnerable. For some, it will take years to recover. Along with this the future promises high unemployment, government debt service, and uncertainty in the financial markets. So what do we do, listen to the liberal and conservative media play this against each other while we sit on the sidelines? We have all heard that good news does not sell, so at times we may feel we are stuck with the alternative.
Unless we change our way of thinking and determine our own future.
While we sometimes do not realize it, there is good news, and more on the horizon. The Federal Reserve has managed to avoid a scenario on par with the Great Depression. Is there a chance of out of control inflation? Of course, but then again your glass may always be half empty. While we heard that the “Big 3” automakers were in jeopardy, they are in business and for the most part, unscathed. We went from hearing that they were closing dealerships to the fact that they were selling cars so fast under the Cash for Clunkers Program that they were out of inventory.
We do have challenges ahead that can affect economic growth, higher taxes, damaged personal credit, trade and government restrictions, and higher energy costs are just a few. But this is the United States, the strongest country in the world. We can emerge from this like we have in the past, and yes, it may take a little longer than we like. Until the banks are comfortable to extend credit, we will not see many projects come out of the ground. Non-residential construction and rising commercial vacancy rates will weigh heavily on commercial and industrial construction.
But some construction companies are doing things differently. For many, they have been forced to expand outside their traditional geographic area. As a national supplier of professional construction supplies, Toolup Construction Supplies sees this first hand. Many of our contractors are bidding jobs that they never would have in the past. In the end, most will be stronger and more profitable. Those that resist change may be those described as part of the “shakeout”.
While our customers are thinking differently, so are we. Toolup just opened a 55,000 sq. /ft location in San Francisco. The grand opening was June 23rd. Yes, in THIS economy. With locations in San Diego, Las Vegas, and San Jose we are hiring the top talent that previously worked for our competition. While our competitors are cutting inventory, we are leveraging our buying power to being the best value proposition in our markets. Our shelves are stocked; our trucks are delivering twice daily, and adding new lines weekly. It has been said that great fortunes have been made in the worst of times; we subscribe to that idea and resist the temptation to fall into negativity.
Submitted by Joel B. Smith, Vice President of Toolup Corp.