I’ve got to admit, I can’t resist clicking the stories flying into my inbox detailing the latest nasty economic indicator or big loss posted. Although it’s no fun being reminded of the current slide (I should get enough of a reminder while looking at my monthly 401k statement…ouch!), but morbid curiosity keeps bringing me back to financial news sections.
Occasionally these visits also provide quick flashes of hope, and I was struck by such a glimmer last week while reading the article “Sector Snap: Forest products rise on Obama plan,” at the CNN Money Web site.
The Dec. 8 article detailed how shares of companies that produce timber and wood products rose after President-Elect Obama detailed a potential recovery plan involving a massive public works program.
The companies that saw their shares gain were businesses that provide wood panels used as frames in pouring concrete for roads and sidewalks, and those selling heavy-duty joists used in scaffolding, according to the article.
Chances are your woodworking company doesn’t make either of those goods, but from reading about the plan there is definitely a chance that some of the government money could filter to your company.
Plenty of the billions of dollars from the proposed package will go to roads, but part of the plan includes school renovations and other public building upgrades. I’m guessing these renovations could mean business for commercial cabinet shops and millworking companies. Woodworkers that can provide LEED credits may see a chunk of the windfall because it seems like state and federal buildings are increasingly pursuing green building codes and certifications.
Do you think the plan could directly benefit your business? What elements do you think will give woodworking companies an edge while competing for these government dollars?
Have something to say? Share your thoughts with us in the comments below.