Patti Engineering Insight

I am pretty proud of the fact that Patti Engineering was recently published in Control Engineering Magazine. The article is about an automated system we did for Ancor in Troy, Michigan. The system packages Federally Mandated Vehicle Information Labels for all Ford Vehicles sold in North America. You can check the article out yourself:

http://www.controleng.com/article/CA6620339.html

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In May 2006, I first heard Alan Beaulieu speak at the annual Control Systems Integrators Association (CSIA) conference. During the Florida-based conference, Alan remarked that the nation was in a one-state recession, and jokingly advised those from Michigan not to return home. That drew a hearty laugh from my fellow integrators and a couple of teasing smiles my way. I have since become a big fan of Alan’s and would recommend that business owners subscribe to his monthly analysis newsletter (www.ecotrends.org).

Beaulieu predicted back then that the rest of the country would join Michigan in a recession in 2008 and that it would be a pretty deep one – unlike any in the past 30 years. True to his prediction, the country has joined Michigan in the recession and there seems to be a reaction of panic across the nation. Beaulieu also has said that if you think 2008 is bad, wait until you experience 2009!

The politicians in Washington think that if they throw enough money at the financial industry, the recession will go away. Again according to Beaulieu, their moves will only act to prolong the downturn and hamper our children with a debt that they will have a hard time repaying.

Having seven years of experience with a recession, here are my tips on how you can cope with it:

• Do not feel sorry for yourself! Your business can be nimble enough to survive the downturn and even prosper. Many of your competitors will go away. With the banking industry being so tight, there is very little capital for startups. When the economy turns around (and it will) you will be ready!
• Do not look at your 401(k) and/or IRA statements. They will only depress you. If you have not moved them to cash yet, you are probably too late.
• Keep making your monthly mortgage payments and do not think about the shrinking equity in your house. Housing lead the recession in and prices have probably hit the bottom.
• If you own a business, be very careful who you work for. Nothing is more brutal for your business then to have a big collectable for a customer who claims Chapter-11, which ensures you only pennies on the dollar. Get as much money up front and give companies on shaky ground to your competitors.
• Do not skimp on sales and marketing. It is even more important in bad times to get in front of existing and potential customers.
• Do not listen to the mainstream media. The economy will come back. According to Beaulieu, mid-2010 will bring new signs of economic growth. He is very positive about America’s prospects over the next 40 years and I couldn’t agree with him more.

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