Industry Leaders
Latest news and trends from around the globe in the fields of F&B, Energy, Manufacturing, Construction & Supply Chain
November 2011
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EUROZONE
DEBT A THREAT
THE WOW! QUOTIENT world’s biggest solar bridge
CRISIS
TO WORLD ECONOMY
MF GLOBAL files for bankruptcy
October 2011
COMPANY PROFILES ...about the most prominent players in the industry
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October 2011
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November 2011
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Editor’s Blog by Carrie-Ann Industry Leaders Magazine has been providing business news and information across various industry sectors from different parts of the world. We have been publishing stories about milestones reached by companies through phenomenal efforts and winning strategies. It has been a really eventful month and we have lot of stories but unfortunately, most of them are about downfall, crisis, failure and turmoil. The biggest news have been about Eurozone debt Crisis and MF Global’s downfall which has affected the US banks largely. Nevertheless, For the first time I wouldn’t say that the cover story of this issue is ‘interesting’, I would rather say that its more of an informative narration revolving around the Eurozone debt crisis that is haunting world. The fears of a debt crisis in Europe developed amongst investors long back in 2009 and intensified in early part of 2010. Today while the sovereign debt escalating have been mostly pronounced only in some of the Eurozone countries, they have been a perceived problem for the entire area. Eurozone leaders met at a summit and agreed on a package of different measures to prevent the countries from collapsing economically on account of their respective debts. The Greek government not agreeing to the referendum and France and Germany giving and ultimatum to Greece makes the story a good read. All this and more...
Carrie Ann Editor-in-Chief, Industry Leaders Magazine.
November 2011
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The Team
Editorial
Carrie Ann, Editor-in-Chief
A.M.Reilly News Editor
Richard Meryn, Associate Editor
Aubrey Chang, Associate Editor
Design
Christy Gren, Industry Specialist Reporter
Marketing
Kevin Paul Sr. Graphic Designer
A.Ojha Graphic Designer
Patrick Jam Advertising Coordinator
Zaina Ava Design Associate
Jason Miller Sr. Project Director
Project Management Tom Parker, Project Director
Julia Zimmerman, Project Director
Christine Taylor, Project Director
Technology John Hancock, Le Manh Head - Web Cuong, Department Sr Software Coordinator
4 November 2011
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Finance Controller Julia Hunt, Magazine Production
RR Baratiya
October 2011
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October 2011
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November 2011
Features
Contents 48
34
Indian Grand Prix,
34
following the processional race at recently developed Buddh International Circuit on Sunday, the participating teams have been quite gushy in praising the arrangements and the circuit at the Indian Grand Prix.
48
58 58
Occupy Wall Street Movement, In a decade marked
Cover Story
Eurozone Debt Crisis
Five hundred billion dollars. That’s how much Greece has borrowed, and now owes to many others. Five hundred billion dollars is also the same as half a trillion dollars, and no matter how it’s described that’s a lot of money for Greece and the Eurozone to remedy. Read on to know more...
by revolutions and millions taking to the streets for some very basic needs, 2011 will be remembered as the year that saw it all.
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Contents Regulars 10 The Latest in Business 18 Leader Talk 26 The WOW ! Quotient
64 64 26
42
Mergers and more...
100
Larger than Life
106
Industry Events & Tradeshows
70
Larger Than Life
November 2011
Vestas
Vestas Wind Systems A/S is a Danish manufacturer, seller, installer, and servicer of wind turbines. Based in Randers, Denmark, it is the largest in the world,but due to very rapid growth of its competitors, its market share decreased from 28 percent in 2007 to 12.5 percent in 2009.
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4
100
Global Construction Industry
Countries all around the world are projecting that their respective construction industries will remain flat through 2012, as most of them have not yet rebounded from the global economic crisis in 2008.
October 2011
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Company Profiles
Groupe Danone
Groupe Danone (OTC: DANOY) is a French food and beverage multinational corporation based in Paris. Danone, or Dannon, as it is marketed in the United States, achieved revenues totaling over 17 billion EUR (23.36 billion USD) in 2010.
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92
92 Toyota
Hybrid Car Manufacturing
84
NACCO Material Handling
Head-Space
“ “ Stay hungry, stay foolish !
- Steve Jobs
84 9 November 2011
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October 2011
Contents
NACCO Materials Handling Group designs, engineers, manufactures, sells and services a comprehensive line of lift trucks and aftermarket parts marketed globally under the Hyster and Yale brand names.
With a growing global consciousness of environmentalism and carbon footprints, comes the growth and opening of various green industries that haven’t previously had a chance.
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The Latest
in
Business
-A.M.Reilly
Samsung Beats Apple in third sales quarter In the news that took tech industry by surprise, sales of Samsung Electronics surpassed those of Apple Inc. Apple phones are known to be the highest bought consumer electronics in the world, and rarely has any other brand’s products ever threatened to overtake Apple’s sales. However, the impossible has happened and Samsung has sold a record number of phones in the last quarter, overtaking Apple. When the news first broke, most tech
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industry followers were of the opinion that the latest offering from Apple, the iPhone 4s, failing to meet the widespread expectations is the reason behind this unusual statistic. Most industry pundits were expecting Apple sales to dip because of the new phone failing to meet the high standards of the legacy left behind by Apple inventor Steve Jobs. However, the Samsung sales crossing those of Apple have less to do with the latter’s disappointed consumer base and more to do with great timing by Samsung.
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Jim Beam Bourbon Targets Female Market After 216 years of marketing to men, Beam Global Spirits & Wine, the makers behind Jim Beam Bourbon, has finally realized that women like drinking hard liquor too.
setting. This gave them an understanding of how Jim Beam Bourbon could fit into the female drinking scene, and how other Jim Beam girly drinks could be marketed to them. Marketing to women may have been an accident at first, but it could turn into something very lucrative for Jim Beam.
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The Latest in Business
This is a phenomenal move for the spirits giant, as Jim Beam this month launched a selection of fruitier, lighter spirits such as a Courvoisier cognac infused with red wine and the tart Pucker vodka line. The idea of catering to the female market with Jim Beam girly drinks came by accident, when Jim Beam released Red Stag, a black-cherry infused bourbon, in 2009. The company found that women were buying the new product three times as much as they typically bought bourbon. After that, company research found something they called the “girlfriend connection�, when women tend to drink with other women or in a very social
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The Latest
in
Business
Wall Street responds positively after a sharp increase in European stocks NASDAQ also showed a rise reaching its highest point in last two months. It is imperative at this point of time that the investors look at the corporate results rather than be dependent upon the EU Debt-crisis summit to be held soon. It was good news for US Economy with the stocks rising earlier this week. Additionally, there was a decline in the number of people queuing to claim unemployment benefits this week. Construction sector also saw a rise
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in Housing construction in last few weeks, while a low maintained Inflation adding to the good news. Among the companies reporting earnings late Thursday or Friday, the major companies which reported substantial earnings this week include General Electric Co., Microsoft Corp., Verizon Communications Inc., McDonald’s Corp., Chipotle Mexican Grill Inc., Harman International Industries Inc. etc to name a few.
October 2011
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BMW Races Ahead Of Audi With New 3 Series Latest automotive news from the constantly changing auto industry reveals stiff competition between auto industry greats BMW and Audi. One of the all-time favorite auto trends, the Audi A-4, now faces some serious threats from the tweaked BMW 3-series. Car news enthusiasts will be keen to hear that the popular BMW 3-series is now being modified to appeal to a greater luxury
market, with an all-new BMW 3-series sedan model. The Audi A-4, though an undeniable hit, has now been around for too long and has become something of a regular feature on the roads and people are starting to get bored of it, if the latest auto trends are to be believed. And auto industry giant BMW plans to exploit that very fact to gain an edge over Audi.
The Latest in Business
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The latest in Business New York sees a huge drop in Oil And Gas Prices Crude oil and natural gas prices in New York are dropping, according to the latest reports. The crude oil futures contract on the 12th of October closed at a rate lower than was expected. With weather conditions easing up and natural gas reserves expected to grow, natural gas prices in New York too have dropped, at a rate of 3.6%. These falls, however, come in sharp contrast to the Standard & Poor’s 500 index, which
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has once again shown an upward swing, the sixth rise in seven sessions. Crude oil prices experienced a surge as a result of the diminishing value of the US dollar, but the trend quickly came to an end as the price increase failed to sustain till the market close. Crude oil trade through the year 2011 has been parallel to the functioning of the Standard & Poor’s 500 index, for the most part.
October 2011
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Dexia Bank To Be Dismantled: Belgium, France And Luxembourg Decide Dexia bank, the primary organization to suffer from the Eurozone Debt Crisis is being dismantled. The countries of Belgium, France and Luxembourg have released a joint statement in which they announce their mutual decision to dissolve the economically weak bank.
The Latest in Business
The three involved parties have mentioned in their joint statement that after carefully evaluating the situation and consulting with several experts, all three have come to the conclusion that it is in everyone’s best interests to close down the bank. The three parties have furnished a solution proposal to the bank, on whom the onus to give a nod to the plan now lies. The prime ministers of Belgium and France, Yves Leterme and Francois Fillon, recently met for lunch and discussed the possible solution and formally decide on the same. The meeting, held on Sunday, saw the two prime minister come to the agreed conclusion that the best move forward will be to dismantle the bank. The bank also needs severe financial aid and rescuing at the onset of the financial downturn in 2008.
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The Charism
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Leader Talk
matic Leader Traits
-Patrick Alain
Freddie Mercury once said, “The reason we’re successful darling, My overall charisma, of course!” Charismatic leaders are the most successful, the most respected and the most loved of all. You can enforce your leadership with a dictatorial style, you can ensure results with bureaucratic leadership and you can affect a relaxed work atmosphere with a laissez-faire style, but if you really want results and you want to be liked while you get things done, you have to be a charismatic leader! Te mo hoctarbit ia nonsus lare, ut grace tem tus cortia Sente
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A very famous quote about charisma reads, “Charisma is a sparkle in people that money can’t buy. It’s an invisible energy with visible effects”. Charisma is a quality that is associated with leaders, and is often said to be that one trait that is not necessary for effective leadership but can make all the difference in the world. You do not have to be a charismatic leader to be a good leader, but if you have charisma, you will be a great leader, a revered leader and above all, a memorable leader.
So what are the charismatic leader traits and how are they different from the regular, better known leadership qualities?
It has often been said that it is easy to impress other people, win their trust and loyalty, inspire their confidence and teamwork, but without charisma, it is difficult to be liked and the love and affection of people can only be gotten with personal charm, appeal and of course, charisma. Out of the various leadership styles and traits, charisma is the vaguest, least known quality. Charisma is intangible and cannot be confined to a fixed structural definition; it is an abstract energy, a magnetic appeal that draws others to you.
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Leader Talk
Don’t Just Lead, Be Liked If charismatic leadership traits have to be narrowed down to a single defining characteristic, likeability tops the list. Those who know a little something about leadership already will know that you don’t necessarily have to win people’s votes in order to be able to lead them. Some of the most famous leaders in history have acquired that status through the use of brute force and sheer will. However, charismatic leaders do not force others to follow them or ask them to do so or even request loyalty: they earn it and they inspire it because they are just so darn likeable! Charismatic leaders are nice, fun, caring, passionate and empathetic people. A likeable leader is always going to be a great leader because the followers will choose to be a part of the team and will do so with gladness. Care for Others Before You Care For Yourself A good leader makes his followers feel good about him. A charismatic leader makes his followers feel good about themselves. The first and foremost trait of a charismatic leader is the ability to make people feel taken care of, appreciated, respected and above all, important.
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A charismatic leader is, before all else, genuinely interested in other people. Celebrate Life, Inspire Enthusiasm A significant charismatic leader trait is an unbeatable sense of enthusiasm and love for life. Charismatic leaders inspire others to be happy because they are happy themselves; they love life, they enjoy every moment of their work, they take pride in their responsibilities and they are full of energy. A charismatic leader is one who simply radiates joy, enthusiasm and passion. Charismatic leaders celebrate life in the smallest moments, and it is with this ‘joi de vivre’ that charismatic leaders win followers and support. It is very basic psychology really: happy people attract other people.
one who recognizes the strengths of others in the team, respects them, and is personally glad to have the opportunity to work with other talented people. Charismatic leaders are predisposed towards seeing the best in people and expecting the best from people. They set a high bar for everyone and have the faith
See the Best in People, Channel It Charismatic leaders are set apart from others by the fact that they can immediately see the potential of other people, they appreciate the said potential and they know how to bring it out and put it to use. Charismatic leaders do not just focus on harnessing others’ potential; they truly appreciate it and place a high value on it. A charismatic leader is November 24 2011
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Leader Talk that each person is going to meet the expectations. It has often been said that charismatic leaders show so much faith and confidence in their teams that the others are inspired to do their very best. Deal In Hope To quote Napoleon Bonaparte, “Leaders
are dealers in hope�. Charismatic leaders are optimistic people: they expect the best, they look forward to positive results and invariably, they get great things done. Hope, is a defining feature of charismatic leaders, and not only do they have a ton of hope themselves, but more importantly, they spread it amongst others. Charismatic leaders understand that each person wants to do well and be successful and has a deep hope of achieving something in their lives, so they work hard to strengthen this hope and give people the positivity to dream big and believe they will be able to succeed. Charismatic leaders infuse people with optimism and passion and make a bright, fantastic goal seem like an achievable reality, each time. Spread The Goodies A very positive trait of charismatic leaders is that they are willing to share their strengths, experiences, skills and knowledge with others. Many leaders like to keep some aces up their sleeves, keep their skills to themselves and not empower others fully in an attempt to stay one step ahead always. Charismatic October 2011
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leaders, however, are not afraid of losing their leadership because they want to achieve the greater good and are happy to do so by enabling others to succeed both at an individual level and as a team. Thinking about others is the founding block of charismatic leadership, and so, charismatic leaders are always looking to
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share their resources and wisdom and findings with others. In respect of these traits, it is worth noting that charismatic leaders are actually true servants of their followers: they aim to please, empower and enable their followers to do all they can to achieve all they can.
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Leadership Talks...
October 2011
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!
The
WOW !
Quot ent
-Christine Taylor
Biggest Solar Bridge In The World: Construction Begins October 2011
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I
n a thrilling bit of news, the latest in development merges with the latest in building and the latest in environmental reforms, as construction on the largest solar bridge in the world begins. Located in the heart of London, the Blackfriars Station is going to be the proud new site of the biggest
solar panel bridge ever- with more than 4,400 solar photovoltaic cells covering an impressive area of a whopping 6,000 square meters. The solar panels are being installed into a Victorian bridge arching over the Thames river, which also serves as the base of the Blackfriars Station. October 2011
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!
The
WOW !
Quot ent The construction of the solar panel bridge is being heralded as a stroke of genius by all international industries, ranging from construction to environmental outfits, and much good is expected to come out of the decision. It has been estimated that around 900,000 kWh of electricity will be produced by the solar bridge, and this will account for half of the station’s energy needs. The solar bridge is also expected to decrease carbon dioxide
October 2011
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emissions by an astounding 511 tonnes each year. And that’s not all! The solar bridge will also serve as the inspiration and base for other environmentally friendly and positive measures that are going to be adopted by the station authorities, such as sun pipes that will be used to produce natural, eco-friendly lighting for the station as well as installing rainwater harvesting systems. The Blackfriars Station is being renovated under the Thameslink program, which aims to renew the train services plying to and fro Bedford, Brighton and London. The vision is to create longer train routes, while improving the stations and making
October 2011
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The
Quot ent
them more roomy, modernized and comfortable, in addition to the enhanced on-board services that passengers will be treated to. At the heart of this service-oriented development program is the dream of an ecologically safe and
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“
“
!
WOW !
At the heart of this serviceoriented development program is the dream of an ecologically safe and environmentally progressive concept.
September 2011
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“
Spearheaded by Network Rail, the project is being brought to life by London-based solar engineering giant Solar century in collaboration with Jacobs and SANYO Electric Co. Ltd.
environmentally progressive concept. The decision to incorporate renewable sources of energy and combat the advent of climate change and global warming has been met with much approval in the global community.
“
Biggest Solar Bridge
Spearheaded by Network Rail, the project is being brought to life by London-based solar engineering giant Solar century in collaboration with Jacobs and SANYO Electric Co. Ltd.
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Number Crunchingly Good
The India
Grand P October 2011
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F
ollowing the processional race at recently developed Buddh International Circuit on Sunday, the participating teams have been quite gushy in praising the arrangements and the circuit at the Indian Grand Prix.
an
Prix
-Carrie Ann
October 2011
www.industryleadersmagazine.com
Number Crunchingly Good The Circuits had a character of long straights and flowing terrain which made them fall in love with the track. Bernie Ecclestone, a well known British Business Magnate and the CEO of Formula 1 doubted on the completion of the circuit before arriving to India. Upon arrival and at the end of a keen
‘‘
observation, he looked quite impressed while he said “Super, The track is super.”
‘‘
It’s a very impressive country here, very different to what we know in Europe, but very inspiring. It’s been a great race, a great event and the circuit is fantastic, so thanks a lot to all the people in India.
The Winners’ say:
A crowd of 95,000 Grand Prix enthusiasts gathered to see Sebastian Vettel reign over a race that wasn’t much about overtaking or crashes. Jenson Button who finished second earned quite some compliments from the public. “I loved the whole experience this weekend,” Button said. “And I think every driver will be excited about coming back here because it’s such a phenomenal circuit; fast and flowing with a bit of everything. It gets a big tick from me. The Indian people November 2011
36
have really welcomed us to their country; I’ve never seen so many people smiling before. And the crowd has been wonderful. I hope that Formula 1 grows in India in the future and that we get an even bigger crowd here next year.” Vettel’s praised the Indian people and appreciated their approach towards life. “It’s a very impressive country here, very different to what we know in Europe, but very inspiring,” he said. “If you keep your eyes and ears open, you can learn a lot from the way the people handle things here. It’s a big country with a lot of people, but they are happy and enjoy life, which is what it’s all about. At the end of your life, it’s friendships, emotions and thoughts that you take with you, rather than what’s in your bank account. So, even though people don’t have a lot here, they are a lot richer in many ways and we can learn from that. It’s been a great race, a great event and the circuit is fantastic, so thanks a lot to all the people in India.” Lewis Hamilton was also amongst the ones who were really happy about the hospitality and warmth received from the Indians. He was heard saying: “The Indians did a fantastic job this weekend, the track was great, and we’ve been treated so well here,
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we’ve been treated like kings so I’m really grateful for that.”
“
This inaugural Indian Grand Prix was a remarkable event. This is a fantastic and challenging race track, and saw packed grandstands and great enthusiasm from the fans
“
Michael Schumacher who has seen a lot of races join the Formula One calendar throughout his glittering career too expressed his feelings
BERNIE ECCLESTONE CEO, Formula One
towards the well organized event: “To the organizers of the first Indian Grand Prix,
more during the first race in a new country.
I would like to send a big compliment; I’m sure
So a big thank you to the organisers, the
that I am not the only one to say that this was a
Jaypee Group, and to Bernie Ecclestone and
very positive debut.”
FOM, who have worked very hard to make this new event happen.”
Apart from the Drivers, the Team members also
With all the praises and appreciation, there
carried big smiles with the Head of motorsport
was someone who didn’t really carry happy
at Mercedes, Norbert Haug calling it as a
memories home. Felipe Massa had to leave
remarkable event. He said, “This inaugural
the circuit following a clash with Hamilton
Indian Grand Prix was a remarkable event. This
during the race: “I will try and forget this trip
is a fantastic and challenging race track, and saw
to India as quickly as possible, but that will
packed grandstands and great enthusiasm from
be absolutely nothing to do with the country!”
the fans. Formula One could not have wished for November 2011
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The race attracted a host of celebrities, who
Force India).”
flocked at the paddock area since morning and were also seen interacting with team officials
The Final Standings:
and drivers. The Bollywood Indian Cinema star Shah Rukh Khan, who was amazed at the mean
Sahara Force India’s German driver Adrian
machines, spoke to the media: “It’s lovely to be
Sutil, finished ninth, which enabled his team
here…The weather is perfect for the race and
to earn two points while his teammate,
I am here to support the Indian team (Sahara
Briton Paul di Resta, came 13th and could
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not garner any point.
the sixth and fifth spots respectively.
Red Bull’s Mark Webber and Ferrari’s Fernando
Its was Vettel’s 11th victory of the season and
Alonso were further behind. Former champion,
he is now on his way to equal Schumacher’s
McLaren’s Lewis Hamilton, could only manage a
2004 record of 13-wins in one season.
7th position finish after yet another clash with
“Yes boys, we did it,” shouted Vettel after
Felipe Massa of Ferrari who had to leave the track.
the God of Cricket Sachin Tendulkar waived
The Mercedes duo of Nico Rosberg and Michael
down the chequered flag. “First Indian Grand
Schumacher finished quite ahead of Hamilton, at
Prix, great job!”
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Mergers and more...
MF Global
files for bankruptcy; US banks panic October 2011
www.industryleadersmagazine.com -Julia Zimmerman
M
F Global, a now-bankrupt brokerage firm has roots that go back more than two centuries to a London trading firm. Unlike other brokerage firms, MF Global is not in the business which revolves around buying and selling of stocks or into selling of European bonds.
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Mergers and more... Jon Corzine, former governor of New Jersey was appointed as the new CEO of MF Global in March 2010. Corzine has also worked at Goldman Sachs as a CEO in 1994. After MF Global has been in the market for a long time
taking over the role of a CEO at MF Global he
and it primarily focused on assisting investors
showed full determination to transform MF
on placing bets on where stocks or bonds or
Global into a successful investment bank like
commodity prices are headed by selling so-
Goldman Sachs. Apparently, Goldman Sachs
called futures contracts. These are considered
has never worked like other conventional Wall
to be one type of financial derivative. A rather
Street firms, which make money off advising
surprising fact about its failure is that MF Global
companies on acquisitions, mergers, stock
doesn’t really specialize in the credit default
and bond offerings.
swaps type of derivatives that got AIG and others in trouble in recent times. MF Global
Shockingly Corzine engaged the firm into
actually was more into plain vanilla derivatives
proprietary trading - a high risk business that
that are traded on stock exchanges.
recent banking reforms have tried, perhaps unsuccessfully, to ban the big banks from doing.
The biggest gamble that Corzine played was on European bonds, the deal which he seemed to have gotten self approved. It was a high risk bet as some of the EU nations clearly appear to be unable to pay back their debt including countries like Greece, Italy and Portugal.
The Failure of MF Global The biggest gamble that Corzine played was on European bonds, the deal which he seemed to have gotten self approved. It was a high risk bet as some of the EU nations clearly appear to be unable to pay back their debt including countries like Greece, Italy and Portugal. Corzine though that the stronger European nations were never going to let the weaker nations fully default, and risk the death of the Euro. Germany, for one, had hugely
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benefited from the Euro.
fact, the MF Global failure is a very good
So even while the bonds were trading a steep discount, Corzine strongly believed that after a bailout, the weaker EU nations would still make good on their debts, and MF Global would make huge profits. Corzine’s entire plan seems to have highly failed already. While the worst is yet to come as the bonds trade all the time, the prices of those bonds have continued to fall, even though they still might pay out towards the end. Here, MF Global didn’t just buy the European nations’ bonds; it also borrowed quite a lot of money to buy more of it.
example that Dodd-Frank act preserves a free market. MF Global was never a small firm - it had $40 billion in assets and ranks as 8th largest bankruptcy in U.S. history- but it wasn’t big enough either to be defined as systemically important under the Dodd-Frank act. The cut off for that in the Act is $50 billion. Hence firms like MF Global are still allowed to engage into big bets and yet stay off the radar of Dodd-Frank. It appears regulators didn’t do much to save MF Global, even though there had
MF Global made its trades in such an advantageous pattern that they had to engage more and more collateral to finance the bet further. Eventually, the money MF
may have gotten in trouble. At least for now, MF Global’s failure doesn’t appear to have caused any larger problems for the financial markets.
more than the firm actually had. MF Global’s shares plunged towards bottom, but the company’s worth was still about $200 million by the end of October 2011, and as of the end of March, the firm employed about 2,500 people in total.
Impact of New Banking Regulations Dodd–Frank
Wall
Street
Reform
and
Consumer Protection Act, the financial reform bill that was adopted last year, played an important role in downfall of MF Global. In November 2011
45
MF Global made its trades in such an advantageous pattern that they had to engage more and more collateral to finance the bet further. Eventually, the money MF Global needed to engage as collateral was more than the firm actually had.
The most important point here is would Dodd-Frank actively prevent any huge bank from getting into the same problems
October 2011
MF Global files for bankruptcy
Global needed to engage as collateral was
been some indication for months that it
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October 2011
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Mergers and more... that MF Global got into. MF Global’s immediate
victim to Eurozone debt crisis.
problem was a liquidity crunch that it got into. Dodd-Frank Act focuses on capital balances,
Though major banks in the US have
which means that they make sure that banks
less exposure relative to the capital
have money on their books good enough to
available, quite a few have several
cover their potential losses during a financially
counterparts
critical situation. It is strange though that
ups with European banks which can
Dodd-Frank Act does not do much to make
anytime pull them into a financial
sure that the bank has an access to their
meltdown situation in the Eurozone.
in
Europe
and
tie-
capital balances immediately during a scenario of financial crisis.
Congressional Research Service has estimated that the U.S Banks have a
Eurozone Debt crisis makes U.S Banks vulnerable
direct exposure to financially critical
The
filing
Ireland, Greece and Spain which sums
bankruptcy came to the investors as a distress.
up to about 5% of total U.S banking
The failure of MF Global was like a lesson that
assets.
news
of
MF
Global
Holdings
European nations like Portugal, Italy,
U.S financial institutions could anytime fall
Dodd-Frank Act focuses on capital balances, which means that they make sure that banks have money on their books good enough to cover their potential losses during a financially critical situation. It is strange though that Dodd-Frank Act does not do much to make sure that the bank has an access to their capital balances immediately during a scenario of financial crisis.
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Following the Bankruptcy of MF Global, Most of the US banks are trying to show that they have the least exposure to the Eurozone debt crisis as they have got credit-default swaps which are a kind of insurance policies facilitating them to hedge during financial crisis.
October 2011
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EUROZONE
DEBT
CRISIS POSES A THREAT
TO
THE
WORLD
ECONOMY October 2011
www.industryleadersmagazine.com -Carrie Ann
ive hundred billion dollars. That’s how much Greece has
borrowed, and now owes to many others. Five hundred billion dollars is also the same as half a trillion dollars, and no matter how it’s described that’s a lot of money for Greece and the Eurozone to remedy. It took years of mismanaged spending and widespread tax evasion to get the country in this mess, while the Eurozone has only a very limited time to get Greece, and other countries out of the mess before the largest economic zone in the world falls apart. Here are some of the answers to the biggest questions surrounding the Eurozone Debt Crisis, and its treat to the world economy:
October 2011
cover story
“F
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Eurozone Debt Crisis How would a Greek debt default impact the international financial system? If Greece does default on its debt, the impact on the international financial system would be that of a domino effect. The International Monetary Fund estimates that almost two-thirds of Greece’s debt is held by institutions outside of Greece, primarily in French and German banks. There are many smaller holders of Greek debt, such as the United States, Japan, the Middle East, and a few other European countries. If Greece defaults, France and Germany, two of the largest economies in the Eurozone, will take a hard hit. Those smaller holders will be impacted as well. Also, countries and banks aren’t the only holders of Greek debt.
Insurance companies, mutual funds, and pension firms also have a stake in this. Essentially, a debt default could cause worldwide panic, with many institutions either collapsing or coming close to collapse. This default would be on top of the recovery from the previous financial crisis, which many institutions have not fully climbed out of. The international financial system, at this time, would not be able to absorb a Greek debt default and a looming crisis. Will the EuroZone Debt Crisis Provide a Boon for the American or Chinese Economy?
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Eurozone Debt Crisis Not right away, as demonstrated in the answer to the previous question. The American economy would suffer, which would adversely affect the Chinese economy. In fact, the Chinese economy is already suffering from the Eurozone Debt Crisis, as economic growth is projected to slow for the rest of this year and the next due to sluggish exports resulting from the crisis. Although, it’s projected that the Chinese economy might not be hit as hard as the rest of the world, as the government is taking a flexible approach to dealing with these challenges. If there is to be any boon for either economy, it will take some time after the initial shock of a debt default. Specifically with the American economy, GDP growth is forecasted to be slower than predicted, a mere 1.8 percent, which is far below the 3.1 percent originally predicted. As mentioned previously, American banks are particularly vulnerable, as demonstrated by the bankruptcy filing of MF Global at the beginning of the month. U.S. banks’ estimated direct exposure to the troubled European nations of Portugal, Ireland, Italy, Greece and Spain is disturbingly high - equal to nearly five percent of total U.S. banking assets, according to the November 52 2011
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“
Greek Prime Minister George Papandreou made a surprise announcement on Halloween to pitch the bailout package in a referendum to the Greek people. This announcement cause havoc, as the country would not receive any more aid until this package is ratified. Ratification of the package comes with spending cuts, tax rises, and job losses, things the Greek people don’t like and probably won’t vote for if a referendum were to happen.
October 2011
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Will the EuroZone Debt Crisis Provide a Boon for the American or Chinese Economy?
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cover story
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Eurozone Debt Crisis Is the Greek government on the verge of collapse? Absolutely. Greek Prime Minister George Papandreou made a surprise announcement on Halloween to pitch the bailout package in a referendum to the Greek people. This announcement cause havoc, as the country would not receive any more aid until this package is ratified. Ratification of the package comes with spending cuts, tax rises, and job losses, things the Greek people don’t like and probably won’t vote for if a referendum Image courtesy lovebeginswithl.com were to happen. This announcement divided the Greek parliament, so much so that Papandreou said he would consider ditching the referendum plan only a few days later. The government has a vote of confidence on Nov. 4, and it’s doubtful that Papandreou would survive. What would happen if the Greek government were to collapse? First, it would delay a resolution to the Eurozone Debt Crisis, as Greece would then have to go through special elections in order to fill the power vacuum and to have people at the negotiating table with the rest of the Eurozone. Second, that delay and those special elections could speed up the country’s collapse and the looming crisis. Greece only has enough money for the end of the year, and badly needs this bailout package in order to stay afloat. A special election undoubtedly use up some of that money’s that’s left and might put the Greek people into more chaos than they’ve already experience over the November 2011
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past several months.
What’s next for Greece and the Eurozone?
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October 2011
cover story
As this issue went to press, the G20 convened in Cannes, France to discuss the issue and to come up with a plan to avert this crisis. The summit originally had been meant to focus on reforms of the global monetary system and steps to curb speculative capital flows, but the shock waves from Greece have upended the global talks. EU leaders are determined at all costs, first, to keep Greece in the euro and, second, to prevent contagion sweeping so fast and so deep in from Italy that it brings the entire European economy down. Getting out of the Eurozone is becoming the prevailing opinion among the Greek people. If Greece returned to the Drachma, then the country could print its own money to get itself out of the mess. It’s still an uncertainty of whether or not Greece will leave. But, as world leaders convene in Cannes to discuss the crisis, the number one goal is to keep Greece from falling apart. The number two goal is to keep this problem from spreading to other European countries who
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October 2011
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Making News
-Jason Miller
Occupy Wal
Movement Move
Occupy George Bills P 58
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ll Street
es Forward,
Pave The Way 59
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Making News
Occupy Wall Street Movement Moves F
I
n a decade marked by revolutions and millions taking to the streets for some very basic needs, 2011 will be remembered as the year that saw it all: dictatorships defeated, regimes reigned in, political platforms taken over by the real people, and of course, the Occupy Wall Street movement. Occupy Wall Street is one of the most phenomenal revolutions to hit the streets in recent times; it is not a dictator or a military rule or a government bill the people are protesting this time: they’re not fighting against economic inequality and unfair distribution of wealth and resources. If the streets of New York and so many other places in the world adopting the revolution are anything to go by, the quintessential American dream of wealth, prosperity and success isn’t quite so dreamy, or achievable, after all. And it’s not for the lack of effort on part of the American people; it is the top 1% of economic society that is making it impossible, and if the latest eco-political news is anything to judge by, the people are not having any more of it.
A very interesting facet of this revolution
against economic inequality in general and the famed Wall Street in particular, is the rise of the Occupy George movement. Even as millions take to the internet, the streets, the news and media platforms, November 60 2011
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Forward, Occupy George Bills Pave The Way two brilliant advertising experts have come up with the perfect symbol to define the movement: the United States currency, occupied! Occupy George is centered on the idea of taking over American currency as a metaphor for the vast economic disparities amongst the people of the United States. By using the American currency as the logo or the face of the Occupy Wall Street movement, the two ad executives have personified the revolution to perfection: they are displaying the very commodity, the very resource that has been occupied and manipulated and monopolized by a select few.
brilliant. The dollar that has divided the American people is now uniting them, in unexpected ways! Recently Oakland has joined the movement by calling a citywide shutdown and asking people to converging to the downtown to shut down the city and its port. While these assemblies have been calling for general strikes, they have also been calling for lot more. Community organizations, affinity groups, schools, workplaces and families are encouraged to self-organize and shut down their cities and contribute in rebuilding their communities in whatever manner they are comfortable with and capable of.
world business news
The Occupy George symbol is a graphics genius, a picture based on the American dollar bill constituting of five different stamps that contain information about the uneven distribution of wealth in the country and how earnings in the nation differ. The campaign is using the very item that is the crux of all the despair and differences: money itself.
The thrust of the Occupy George movement is to print this info-graphic on $1 bills and circulate them at different Occupy Wall Street movements in exchange for regular dollar bills, thus replacing the “few, hard-to-get dollars” with the “accurate, representative dollars”. Occupy George is gaining momentum at a remarkable pace, and has already transformed the face of the Occupy Wall Street revolution by making it all the more hard-hitting, focused, and of course, November 2011
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Wind. It means the world to us. -A.M.Reilly
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Vestas Wind Systems A/S is a Danish manufacturer, seller, installer, and servicer of wind turbines. Based in Randers, Denmark, it is the largest in the world,but due to very rapid growth of its competitors, its market share decreased from 28 percent in 2007 to 12.5 percent in 2009.
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Vestas was originally founded in Lem, Denmark back in 1898 by H.S. Hansen. Hansen has purchased a local blacksmith workshop and quickly established himself as one of the best blacksmiths in the area. The company made a variety of things during its first 80 years in business: steelframed windows, household appliances, milk urn coolers, and hydraulic cranes. It wasn’t until the 1970s that the company began to experiment with wind turbines and wind power as a viable energy alternative. Vestas conducted its experiments in secret to avoid ridicule, but created the first successful wind turbine in 1979. In 1981, Vestas got a break with its bold experimentation, as the United States passed legislation that gives tax breaks to wind energy investors. Vestas started to receive big orders and undergo massive expansion. The company started exclusively producing wind turbines in 1989. After a sales slump in 2005,Vestas recovered and was voted Top Green Company of 2006. In late 2008 the company announced a manufacturing expansion in Colorado. In November 2011
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2009, Vestas was 32nd in Fast Company’s Fast 50, the magazine’s annual list of the 50 most innovative companies. In August 2010, Vestas also announced a significant expansion of its North American headquarters in Portland, Oregon. In October 2010, the
‘‘
After a sales slump in 2005,Vestas recovered and was voted Top Green Company of 2006. In late 2008 the company announced a manufacturing expansion in Colorado.. In 2009, Vestas was 32nd in Fast Company’s Fast 50, the magazine’s annual list of the 50 most innovative companies. In August 2010, Vestas also announced a significant expansion of its North American headquarters in Portland, Oregon. In October 2010, the company announced it was closing some of its factories in Scandinavia, with the loss of 3000 jobs.
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Vestas is still number one in wind-turbine production, installing a wind turbine every four hours, but General Electric Co. is a close second.The company operates manufacturing plants in Denmark, Germany, India, Italy, Britain, Spain, Sweden, Norway, Australia, China, and the United States,and employs more than 20,000 people globally. Vestas has a three-cornered vision for the future for our energy-hungry world – wind, oil and gas, recognizing that the world will not move away from fossil fuels overnight. The company has a goal of putting wind energy on par with oil and gas as preferred choice or alternative for cities and countries around the world.
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company announced it was closing some of its factories in Scandinavia, with the loss of 3000 jobs. The manufacturer expects revenue of 6.4 billion EUR ($9 billion) in 2011, down from the 7 billion it had forecast earlier in the year. Vestas also said margins for earnings before interest and tax will drop to four percent from the seven percent previously expected. This slump isn’t due to any wrongdoing to Vestas, but rather the growth of other players and countries in the wind energy market. Vestas, in its long history, has survived hardship before, including World War II. As of 2011, Vestas wind turbines generate enough electricity to provide for 21 million people. In January 2011, Vestas won the $1.5 million Zayed Future Energy Prize in Abu Dhabi. The Zayed Future Energy Prize represents the vision of the Late Founding Father and President of the United Arab Emirates, Sheikh Zayed bin Sultan al Nahyan, who championed environmental stewardship. This annual award celebrates achievements that reflect impact innovation, longterm vision and leadership in renewable energy and sustainability. Vestas had won the prize for “outstanding leadership to pioneer wind
Ditlev Engel, President and CEO, VESTAS November 2011
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Currently, Vestas wind turbines serve over 45 million people in 63 countries. Wind energy accounts for 20 percent of Denmark’s energy consumption, and one percent of the world’s energy consumption.In the European Union, renewable energy and wind accounts for seven percent and two percent respectively of energy production, compared with coal at nearly 25 percent.
One of the company’s most recent projects is a seven megawatt offshore wind turbine, which is expected to start production in 2015. This new turbine, whose rotor will trace a circle bigger than the London Eyeferris wheel and whose blade is longer than nine London double-decker buses, is part of a push towards larger and larger units further offshore, where the wind power potential is high and public resistance can be avoided.This new turbine is the largest in size, and the largest in capacity, int he world.
Governments have agreed to increase energy production to 13 percent from renewable sources by 2020.The potential added capacity of renewable energy in the EU accounts for two thirds the capacity available for all energy sources, and Vestas hopes to make wind the driving force behind the move towards 10 percent energy from wind by 2020.
foreword
energy, even during periods where demand for renewable energy waned.” To demonstrate this leadership, since 1983, the capacity of Vestas wind turbines have increased 100-fold, from 30 kilowatts to three megawatts. Vestas continues to invest in the research and development of wind turbines, spending $128 million in 2009, so it’s likely that Vestas will continue to increase the capacity of its turbines.
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Global Constr
Will
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ruction Industry
l Remain Flat through 2012 -Jason Miller
C
ountries all around the world are projecting that their respective construction industries will remain flat through 2012, as most of them have not yet rebounded from the global economic crisis in 2008. Reasons for the projections and various declines include a reduction in funding and changes to government funding. October 2011
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The latest construction trade survey from the Construction Products Association in the United Kingdom reported that construction output to fall by1.1% in 2011 and 3.6% in 2012, with no return to growth until 2014. The reason for this is the drop in public sector investment spending, coupled with the inability of the private sector to pick up the slack. These numbers are
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particularly surprising as the country prepares for the 2012 Summer Olympics in London. Across the ocean, the building construction industry in the United States projected to see similar results in 2012,with the level of construction expected to be $412 billion, following the four percent decline to $410 billion predicted for 2011.
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Specifically, public works construction, electric utilities, and the institutional building sectors will see declines in 2012. Even the United Arab Emirates, home to the tallest building in the world, is reporting a slow down in its construction industry. Both Abu Dhabi and Dubai are slowing in growth due to competition and changes in government plans.
The slow down can also be attributed to the fact that many projects are taking longer than expected, draining valuable time and money while overcrowding the space as other projects try to come in and get started. Another country that registered declines is Bulgaria, who’s construction sector index was 0.7% lower in September
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The country’s construction industry contracted by 11.6 percent in September in comparison with the same month in 2010. There is still some glimmer of hope in the building construction
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reported stronger figures compared to the September data. Apartment building was up 4.6 points to 25.6, and commercial construction grew 5.5 points to 31.3, while employment in the sector also indicated a slowing decline, up 5.0 points to 37.3. Only time will tell if the Australian construction
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2011 compared with the previous month, National Statistical Institute had announced this week.
There is still some glimmer of hope in the building construction industry, as the decline in the Australian construction industry slowed in October, according to the Australian Performance of Construction Index.
industry, as the decline in the Australian construction industry slowed in October, according to the Australian Performance of Construction Index. The index saw an increase of 4.7 points to 34.7 points, although that is still well short of the 50-point level that indicates expansion rather than contraction. But, all sub-sectors (house building, apartment building, commercial construction and engineering construction) in the Australian construction industry
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industry can maintain these numbers through the rest of the year and into 2012. In conclusion, these numbers are just projections, so there’s a chance that the building construction industry will turn around in the coming months or that yearly projections will change in the first few months of 2012. As countries around the world work to recover from the global economic crisis in 2008, hopefully the global construction industry can do the same.
October 2011
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Groupe D
Great Taste Spreading a
October 2011
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Danone
across the world -Christy Gren
G
roupe Danone (OTC: DANOY) is a French food and beverage multinational corporation based in Paris. Danone, or Dannon, as it is marketed in the United States, achieved revenues totaling over 17 billion billion USD) www.industryleadersmagazine.com October 2011 EUR (23.36 in 2010.
Groupe Dano
Great Taste Spreading
Danone’s largest consumer brands include Activia, Actimel, Vitalinea/Taillefine, Danonino/Petit Gervais, Evian, Aqua, and Blendina. Danone’s Fresh Dairy Products segment is the company’s largest source of income.GroupeDanone is still expanding, as it just broke into the Baby Nutrition and Medical Nutrition markets when it acquired Numico, a world leader in both markets.
so, whose nickname was “Danone”. Carasso has previously lived in the Balkans, where yogurt was a common treat, and had wanted to bring that healthy snack to the rest of Europe. The company didn’t move to France until 1929, when Daniel Carasso learned the family business and decided to setup a factory in France.
Danone/Dannon is the best-selling brand of yogurt worldwide, and is one of the top two yogurt producers in the United States, producing over three million cups of yogurt per day. This brand of yogurt was also the first to introduce yogurt with fruit on the bottom, doing so in 1947, and quickly became popular as a sweeter alternative to the typical tart variety. In fact, the company’s roots are in yogurt, despite its expanse into other areas of the food and drink industry. Founded in 1919 in Barcelona, Danone started as a small yogurt producing factory. Founder Isaac Carasso named the company after his son, Daniel Caras-
The Dannon Company is America’s founding national yogurt company, when Daniel Carasso partnered with Joe Metzger in 1943 to launch the brand in the United States. The American headquarters for Dannon are in White Plains, New York. Continuing its inno-
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one
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g Across The World Besides the Danone/Dannon brand of yogurts, the company owns several internationally known brands of bottled water: Volvic, Evian, and Badoit. About 56 percent of its 2006 net sales derived from dairy, 28 percent from beverages, and 16 percent from biscuits and cereals.
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vative tradition, Dannon leverages its expertise to develop and to market cultured fresh dairy products in the United States, and around the world. Dannon has plants in Minster, Ohio, Fort Worth, Texas, and West Jordan, Utah, producing 100 different types of flavors, styles, and sizes of culture fresh dairy products. It’s most recent brand or style is the Organic Oikos Greek yogurt, demonstrating an interest in catering to those
consumers looking for healthier alternatives. Besides the Danone/Dannon brand of yogurts, the company owns several internationally known brands of bottled water: Volvic, Evian, and Badoit. About 56 percent of its 2006 net sales derived from dairy, 28 percent from beverages, and 16 percent from biscuits and cereals. Danone owns many water brands worldwide. In Asia, it has acquired Yili, Aqua (Indonesia) and Robust (92 percent) and has a 51 percent holding in China’s Wahaha Joint Venture Company, giving it a total market share of 20 percent and making it the leading vendor of packaged water in Asia. Danone competes with companies like Nestle, Unilever, Kraft Foods, and Cadbury Schweppes in the packaged food market. As retailers push private label products, the ability to earn and maintain shelf space at groceries, convenience stores, and other retailer outlets plays a large role in the profitability of packaged food and beverage com-
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panies like GroupeDanone. However, Danone’s strong consumer brands help it maintain shelf space and profitability. Despite Danone’s strong brands, the rapidly increasing costs of raw materials, such as milk, increase Danone’s production costs and compress margins. In 2009, Danone opened its first retailer outlet, a small restaurant/store/museum in Barcelona. Perhaps this is an opportunity for Danone to create and to maintain shelf space of its own.
Dannon/Danone is also a recognized leader in its contributions to nutrition and health and was ranked best in class in a 2008 JPMorgan & Insight Investment study about the response of the world’s largest food companies to obesity and health-related concerns. This commitment is also illustrated through Dannon’s support of the Dannon Institute, an independent, non-profit foundation dedicated to promoting research, education, and communication about the links between nutrition, diet, and health. The Institute also has an international prize for nutrition research worth 120,000 EUR. The prize is presented biennially to individuals or teams who advance the science of nutrition. The Institute also provides training to nutrition professional and pro-
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gramming to teach children about healthy eating habits. The Dannon Company also established the Dannon Next Generation Nutrition Grants in 2006 as a way to support education programs in the cities where Dannon factories are located.
October 2011
Group Danone
Dannon/Danone also has a strong commitment to sustainability and healthy living, as the brand is encouraging people to eat a balanced diet. In 2010, for the tenth year in a row, Danone was listed on the Dow Jones Sustainability Index, a worldwide reference for socially responsible businesses. To illustrate this commitment, Danone has a goal of cutting its carbon footprint by 30 percent in 2012 and is so close to achieving that goal. Since 2008, the company has reduced the footprint by 22 percent.
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NACCO
Materials Hand Group, Inc.
Global Market Leade materials handling equip October 2011
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O
dling .
er in pments -A.M.Reilly
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NACCO Materials Handling Group designs, engineers, manufactures, sells and services a comprehensive line of lift trucks and aftermarket parts marketed globally under the Hyster and Yale brand names. A world leader in the lift truck industry, NMHG has over 750,000 HysterÂŽ and YaleÂŽ lift trucks in operation globally, as of December 2010. NMHG designs, engineers, manufactures, sells, and services a portfolio of materials handling equipment that is among the most comprehensive in the industry. The company covers over 600 end-user applications in more than 600 industries, including a full range of electric and internal combustion engine lift trucks for nearly all indoor and outdoor applications. NMHG is the largest producer of lift trucks in the United States, and the third largest producer in the world with $1.5 billion in revenues and producing over 9,000 forklifts annually.
The company covers over 600 end-user applications in more than 600 industries, including a full range of electric and internal combustion engine lift trucks for nearly all indoor and outdoor applications. Although NMHG has only been around since 1986, the brands of Hyster and Yale have been around for much longer than that. Yale began in 1840 as the Yale Lock Shop in Newport, New York, specializing in expensive, handmade bank locks. Yale didn’t expand into materials handling until 1875, when in the following years the brand introducing an array of materials handling equipment, including the high platform truck, the three wheel tractor truck, 74
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and the first forklift truck. Hyster began in 1929, and started producing forklift trucks in 1934. During World War II, the company saw success in distributing its lifting machines overseas. Hyster is also responsible for introducing the Monotrol pedal in 1959, a pedal that provides both speed and direction. Both brands were acquired by NMGH in 1989, shortly after NMGH was created. Lift trucks are currently manufactured in the United States, the United Kingdom, the Netherlands, Brazil, Ireland, Italy, Japan, Mexico, and Scotland. Headquartered in Cleveland, Ohio, NMHG continues to drive the industry forward.
Lift trucks are currently manufactured in the United States, the United Kingdom, the Netherlands, Brazil, Ireland, Italy, Japan, Mexico, and Scotland.
Strategically located technology development centers in the United States, Italy, The Netherlands and Japan, enable NMHG to be responsive to regional product needs. NMHG’s talented and experienced design and test engineers have the industry’s most advanced design tools and processes at their fingertips. At each development center, input from Hyster and Yale brand managers and regional industry consultants is combined with global trends and voice-ofthe-customer research. From concept to launch, every new product follows a carefully structured and rigorous ninestage development process. Each step must confirm that the product will deliver all the intended benefits to its future users. The result is a level of toughness www.industryleadersmagazine.com October 2011 and reliability that customers can count
on, from one of the most capable and innovative material handling lift truck manufacturers in the world. This research isn’t just conducted to build a better and more innovative product, but to do so with customer needs in mind. Research begins with an acute understanding of customer applications. Embedded product strategy teams work with lift truck dealers, customers, consultants and even other material handling manufacturers to conduct in-depth qualitative and quantitative research. This primary research helps NMHG to better understand the dynamics affecting our customers, other lift truck manufacturers and the industries we all serve. The results are combined with more rigorous secondary research enabling the company to identify and follow wider trends in the materials handling industry. After analyzing the primary and secondary research, product strategy teams work with NMHG product development, manufacturing and support teams to design solutions that best fit end-user applications. With product development and manufacturing, comes safety and reliability testing. Using computer-based and physical testing, each finished lift truck must conform to a rigorous standard of excellence that checks for stability, noise and vibration, ergonomic functioning, service access, performance and much more. In addition, each lift truck is subjected to an exhaustive battery of physical and field tests designed to ensure that every component is built to last. NMGH is also very committed to corporate accountability and responsibility, which begins at headquarters with smarter, greener manufacturing processes that reduce hazardous and solid waste output and energy consumption. This commitment extends with the company’s design and planning efforts that led to NMHG becoming one of the largest volume producers of zero-emission lift
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NMHG is also committed to helping those with whom we work become better stewards of our environment. In 2008 the company developed the NMHG Supplier Sustainability Survey as a way to introduce and engage the entire supply chain in environmental sustainability efforts.
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trucks in North America. The company’s proprietary Lift Truck Life Cycle Cost & Carbon Impact Model is unique within the industry, calculating both life cycle costs and the environmental impact for various lift truck power options, including conventional, fast-charge lead-acid and lithium ion batteries, hydrogen fuel cells, LP and diesel.
Finally, through gifts, donations and employee volunteer efforts, NMHG supports the communities in which its thousands of employees live and work. Some of the company’s philanthropic partnerships include United Way, March of Dimes, Boys Scouts of America, Habitat for Humanity, The Nature Conservancy, Relay for Life and the Children’s Miracle Network. November 2011
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October 2011
NACCO
NMHG is also committed to helping those with whom we work become better stewards of our environment. In 2008 the company developed the NMHG Supplier Sustainability Survey as a way to introduce and engage the entire supply chain in environmental sustainability efforts. Current and future efforts include exploring with suppliers innovative ways they can reduce material waste, lower energy consumption and lower emissions.
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Hybrid Car Manufac
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cturing On Rise
-Tom Parker
W
ith a growing global consciousness of environmentalism and carbon footprints, comes the growth and opening of various green industries that haven’t previously had a chance. One of those budding green markets is that of hybrid vehicle manufacturing, with production to blossom worldwide with many different countries and companies. October 2011
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Toyota Motor Corp announced earlier this month that it will begin production of Toyota hybrid cars in China by 2015. All production, research, and development of these electric vehicles will take place in Changshu, a city near Shanghai, in a brand new facility.
It’s also projected that this hybrid vehicle reduce carbon emissions by 22 percent. This means that hybrid cars are getting better and better, and that more automotive companies are trying to ride the new bandwagon of hybrid vehicles. China is expected to become the world’s largest market in hybrid vehicles, so multinational companies like Toyota are working to take the lead and to develop a competitive advantage above the others. In Japan, Nissan Motor Co. is also planning to produce Nissan hybrid vehicles by 2015, aiming for a 35 percent fuel economy improvement across its fleets in Japan, China, Europe, and the United States.
It’s not just the production of Toyota hybrid cars and Ford hybrid cars that are on the rise, but also the research and development of new and improved hybrid vehicles as well. GM Korea, for example, is set to release not only the first hybrid vehicle in its segment in Korea, but this new model will also a 25 percent improved fuel economy over standard cars. The Alpheon eAssist, as the new model is called, is the first hybrid car from GM Korea and will get 33.2 miles per gallon. It’s also projected that this hybrid vehicle reduce carbon emissions by 22 percent. This means that hybrid cars are getting better
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and better, and that more automotive companies are trying to ride the new bandwagon of hybrid vehicles. With the words “hybrid cars� comes images of mid-sized passenger vehicles geared toward the middle class. But, researchers at the University of California, Riverside, Center for Environmental Research and Technology are considering hybrid vehicles of a different sort: hybrid construc-
tion vehicles. This new research will evaluate the emission reduction benefits of two commercially available hybrid construction vehicles: a Caterpillar bulldozer and a Komatsu hydraulic excavator. Manufacturers are saying the hybrid vehicles reduce fuel needs by 20 percent and cut emissions by 30 percent, opening up plenty of opportunity in the industrial or commercial hybrid vehicle market. After all, no one has said that hybrid vehicles must be restricted to highways, cities, and suburbs. If hybrid construction vehicles are shown to not only save money, but also to
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reduce carbon emissions, the hybrid vehicle industry might see new players on the manufacturing side as well as in the businesses looking to purchase these hybrid vehicles.
Chrysler Group LLC has been conducting research on hybrid pick-up trucks and hybrid minivans, although there aren’t any plans to take these vehicles to mass production quite yet.
From this “out-of-the-hybrid-car” thinking comes even more opportunity for hybrid vehicle manufacturing. Chrysler Group LLC has been conducting research on hybrid pick-up trucks and hybrid minivans, although there aren’t any plans to take these vehicles to mass production quite yet. Hybrid vehicles such as pick-up trucks and minivans offer environmentally-conscious consumers more practical options for automotive transporta-
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Overall, hybrid vehicle manufacturing is very strong, with plenty of opportunity if the coming years for more types of hybrid vehicles and more companies innovating to come out with better and better hybrid vehicles.
tion instead of the smaller Toyota Prius or Ford Fusion Hybrid, and might also expand the market to those who want a hybrid vehicle, but don’t have a use for something so small. Overall, hybrid vehicle manufacturing is very strong, with plenty of opportunity if the coming years for more types of hybrid vehicles and more companies innovating to come out with better and better hybrid vehicles.
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Larger than Life
-Richard Meryn
EleMMe Palazz
RV couldn’t get more lux October 2011
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ent zo
xurious
A
Vienna-based company, Marchi Mobile, has launched a super luxurious range of motor coaches called eleMMent Palazzo Motor Coaches. October 2011
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Larger than Life
eleMMent Palazzo Motor Coaches, the latest in the high-end RVs and motor coaches. The two Ms in the name eleMMent represents the company’s name double M. The luxurious mansion away from the mansion, comes in three series, flavours that can be fully configurable and offers everything you’ll never need on the road, in-
cluding automatic boarding stairs, a flybridge and an operational fireplace. The various configurations allow them to be used for commuting, personal travel or as roaming promotional vehicles. When parked, these 40 foot long coaches manage to expand to a 430 square feet of liveable space.
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There is a master bedroom good enough to house a 40 inch flatscreen TV, as well as a pop-up sky lounge on a rooftop patio. Additional amenities would include a mini-kitchen, an integrated location and communications system with satellite television. It can be configured with everything from mobile internet; streaming video surveil-
lance, heated flooring, rainfall shower and a working fireplace which could be used only when the vehicle is parked. The Design Element Inspired from a 2001 design by Luigi Colani, this mobile luxury villa rests on a DAF XF 105 track chassis and features deliberately radical elements such as the highly apparent oval windscreen that make the it stand out at first sight. It owes its shape to something more than a designer’s urge, however, because eleMMent Palazzo’s aerodynamic properties result in up to 20% reduction in fuel consumption. This eco-friendly touch is nicely off-set by a “truly sportive”, max 530 horsepower turbo charged diesel engine, a rear diffuser made out of carbon-fiber and a double tube sport exhaust in the rear.
The eleMMent PALAZZO is a four wheel luxury mansion. The fully automatic, pop-up flybridge lounge with multiple bars towers over two floors that contain, among other things, a kitchen, a master bedroom with an integrated bathroom and a couch that can be converted into bar furniture at the push of a button. EleMMent Palazzo also boasts an above average safety rating. The eleMMent PALAZZO is a four wheel luxury mansion. The fully automatic, pop-up flybridge lounge with multiple bars towers over two floors that contain, among other things, a kitchen, a master bedroom with an integrated bathroom and a couch that can be converted into bar furniture at the push of a button. All the automatic setting-up and dismantling is handled November 2011
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via a touch screen control panel. An additional, mobile control unit with remote video streaming functionality enables the prudent owner to keep an eye on all the important indicators and play with lighting and temperature settings from afar. Marchi Mobile’s take on business mobility is unique. eleMMent VIVA is projected as one of the most comfortable mobile conference rooms on earth with its six business lounge swivel armchairs with massage features.
It is essentially a mobile showroom that enables the display wares in a classy style. One of the most highlighted factors of the eleMMent is that you can also design your own coating pattern in fluorescent colors. Flourescent Uniqueness The only eleMMent vehicle built for the working class is Visione and Marchi Mobile has marketed it as a “superior tool to enthuse and inspire the superior target”. It is essentially a mobile showroom that enables the display wares in a classy style. One of the most highlighted factors of the eleMMent is that you can also design your own coating pattern in fluorescent colors. In fact, the designers at Marchi Mobile boast that they can customize and modify the vehicle at such an extent that they can also stud it with diamonds. This feature makes eleMMent an ultimate choice for RV lovers. The elemment palazzo has a top speed of 93 mph and is more fuel efficient than the vehicles of its size. It is currently prized at about $3 million and claims to be the world’. November 2011
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Larger than Life
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Events & Tradesows November123 2011
Energy Pollutec Lyon : 29-NOV-11 to 02-DEC-11 Pollutec Lyon is a prestigious event that is dedicated to the environment and focuses on environmental issues of all kinds. Environment experts from various parts of the world gather at Paris each year to participate in this event where a number of meetings and conferences are organized to discuss and evaluate the the most effective strategies for minimizing or preventing pollution. Equal weightage is given to the treatment of all forms of pollution.
Venue: Paris Nord Villepinte, Paris, Ile-De-France, France Renewable Energy HR Conference and Exhibition 2011 : 6 to 7 December 2011 This two day conference, the first of its kind to focus on this critical issue, will enable industry players to share experiences and develop strategies to ensure the strongest growth of the market.
Venue: London, London, United Kingdom Wateco Fair : 15-DEC-11 to 18-DEC-11 Istanbul Wateco Fair is the 4th Water, Waste Water, Environmental Tecnologies, Infrastructure Installation Fair. It will be held in Istanbul 15 to 18 December 2011.
Venue: TBA, Istanbul, Turkey Third International Renewable Energy Conference : 20 to 22 December 2011 IREC provides a forum for researchers and practitioners on recent developments in the fields of renewable energy. Presented papers will be published in the congress website. Best papers will be selected for publication in top journals.
Venue: Hammamet, Tunisia
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Events & Tradesows November124 2011
Manufacturing Autosport International-The Racing Car Show : 12-JAN-12 to 15-JAN-12 Autosport International-The Racing Show brings together the industries of national and international motorsport & encompasses areas such as performance engineering, aftermarket, historic motorsport and the fast growing trackday market. No other exhibition brings you the high-class mixture of trade visitors from across the world and carefully targeted public visitors who are passionate about motorsport and performance cars.
Venue: National Exhibition Centre(NEC), Birmingham, England, United Kingdom Automotive Weight Reduction Expo : 18-JAN-12 to 20-JAN-12 Automotive Weight Reduction Expo is a largest newly launch automotive lighting technology exhibition, one of the most popular first trade show featuring all kinds of devices, materials and processing components for automotive lightening of the Japan. It will attract more than 20,000 visitors and focus on different categories.
Venue: Tokyo International Exhibition Center (Tokyo Big Sight), Tokyo, Japan MicroTech JAPAN : 18-JAN-12 to 20-JAN-12 MicroTech JAPAN is a largest frequently and most comprehensive micro fabrication, fine process technology exhibition for sales and with the concrete business meetings. It will attract more than 70,000 visitors & exhibitors from Japan & around the world.
Venue: Tokyo International Exhibition Center (Tokyo Big Sight), Tokyo, Japan NEPCON JAPAN : 18-JAN-12 to 20-JAN-12 NEPCON JAPAN is a one of the largest and most comprehensive frequently exhibition for all kinds of equipment, materials and technologies for electronics manufacturing and SMT. It will attract more than 70,000 visitors & exhibitors in all events from Japan & around the world.
Venue: Tokyo International Exhibition Center (Tokyo Big Sight), Tokyo, Japan
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Events & Tradesows
Construction
November125 2011
Kenya Building Materials Exhibition : 02-DEC-11 to 05-DEC-11 Noting the recent developments in Kenya and the fact that Kenya is the reexport hub of the East Africa, Kenya Building Materials Exhibition has a lot to offer to the construction professionals from all around the world. The 3rd Kenya Building Materials Exhibition will open its doors on December 02-05, 2011 at KICC, Tsavo Ballroom.
Venue: Kenyatta International Conference Centre (KICC), Nairobi, Nairobi Area, Kenya Dallas Build Expo : 07-DEC-11 to 08-DEC-11 Dallas Build Expo is the nation’s largest and most respected commercial trade show catering to the construction and building industry. In business for over 26 years, we are proud to have an event with buyers of the highest quality.
Venue: Dallas Convention Center, Dallas, Texas, United States Of America Mobile Build : 07-DEC-11 to 09-DEC-11 MobileBuild is an International specialized exhibition of the quickly-erected, modular, portable buildings & tent metal constructions industry. It is intended for companies wishing to export or expand into foreign markets as well as for those interested to acquire products and services from other countries.
Venue: Crocus Expo International Exhibition Center, Moscow, Moskva, Russia
Building Center EDEN 3000 : 21-DEC-11 to 30-DEC-11 Building Center EDEN 3000 offers the construction industry considerable opportunities for progress and added value. This premier exhibition will be held between 21-30 December 2011 at Brno Exhibition Centre.
Venue: Brno Exhibition Centre, Brno, Jihomoravsky Kraj, Czech Republic
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Events & Tradesows November126 2011
Food & Beverages Food Technology Show : 07-DEC-11 to 10-DEC-11 Food Technology Show provides a one-stop shop for its visitors who expect to see companies involved in food & drink technology, quality assurance, packaging, management systems, production and process engineering, retail solutions, purchasing, hygiene and food safety, laboratory equipment, food machinery, staff recruitment as well as research and development.
Venue: NSIC Exhibition Complex, New Delhi, Delhi, India
FOODist : 08-DEC-11 to 11-DEC-11 FOODist is the annual showcase dedicated exclusively to suppliers of food and beverage products for the hospitality industry. It focuses on a cross sector and process oriented approach to bring together all aspect of productions, conveying technology, packaging and distribution, for the food and beverage industry.
Venue: Tuyap Fair Convention & Congress Center, Istanbul, Turkey Kuwait Food Show : 22-DEC-11 to 01-JAN-12 Kuwait Food Show showcases all kinds of food processing and packaging machines, materials, systems and products under one roof. This is your unique opportunity to meet senior buyers & decision makers from all facets of the user industry.
Venue: Kuwait International Fair Ground, Kuwait Hong Kong Food Festival : 24-DEC-11 to 27-DEC-11 Hong Kong Food Festival receives tremendous support from various trade boards and attracts hundreds of quality food related companies to participate. Strategically scheduled around Christmas, the 4th Hong Kong Food Festival is ready to welcome more visitors and to satisfy their holiday shopping needs. This, no doubt, will be a golden business opportunity tailor-made for you and further expand your customer network.
Venue: Hong Kong Convention & Exhibition Centre, Hong Kong, China (Hong Kong S.A.R.)
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Events & Tradesows
Supply Chain
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Logitrans Transport Logistics Exihibition : 08-DEC-11 to 10-DEC-11 Messe Mnchen and Eko Fair Co. join their forces for Logitrans Transport Logistics Exhibition that takes place in Istanbul. The first Logitrans managed jointly by Germany and Turkey will take place from 8 to 10 December 2011.
Venue: Istanbul Fair Center(CNR Expo), Istanbul, Turkey UPAKOVKA / UPAK ITALIA : 24-JAN-12 to 27-JAN-12 UPAKOVKA / UPAK ITALIA, International Trade Fair Machinery and Equipment for theManufacture of Packaging, Packaging Machinery, Confectionery Machinery, Packaging and Packaging Aids, Logistics.
Venue: Expocenter Krasnaya Presnya Moscow, Moscow, Moskva, Russia Intermodal Asia : 09-FEB-12 to 10-FEB-12 The 5th Intermodal Asia 2012 proves to be highly effective in dealing with various issues of transport and logistics. Organized by Transport Events Management Limited at Melbourne, Australia, the event is organized along with 2 days conference for analyzing logistics and transport situation at both domestic and international level. Various exhibitors include ship brokers, ship agents, freight forwarders, ship owner etc. of all over globe.
Venue: Intercontinental Melbourne The Rialto, Melbourne, Victoria, Australia Taipei International Chain & Franchise Exhibition : 24-FEB-12 to 27-FEB-12 Franchising is the growth industry in Taiwan today. Growing numbers of people are looking to change their lifestyle or career and with a success rate 2 times that of a non-franchised business, franchising can offer the new investor an established and successful business environment.
Venue: Taipei World Trade Center, Taipei, Taiwan
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