Monday 29 October 2012

Recommended warren Buffett Books to Read

Warren Buffett is the world’s top business investor and philanthropist. He is the CEO, primary shareholder and Chairman of Berkshire Hathaway, and is ranked amongst the world’s wealthiest people. Known as the wizard of Omaha, he is well known for his value investing philosophy. If you want to invest like Warren Buffett, there are several books, which have inspired and therefore, have been recommended by this influential man -setting you on the right path of investing enlightenment. So here is a brief overview of the most influential books which will set you on the right path to buying stock like Warren Buffett.

The Intelligent Investor by Benjamin Graham

This book was written by the second most influential man in Warren Buffett’s life right after his father. Benjamin Graham, also known as the father of value investing was the mentor of Buffett grounding him with the basic intellectual framework. The book was published in 1949 and since then it has sold millions of copies worldwide. This book, which has been praised by Warren Buffett as the best book ever to be written, focuses not on profit maximization but on loss minimization. The Intelligent Investor is not a book for the day traders or speculators but for true investors. The best part about this book is that it is suitable for laymen giving guidance in adoption and execution of an investment policy.

The Little Book of Common Sense: The Only Way to Guarantee Your Fair Share of Stock Market Returns by John C Bogle. This book gives the most practical advice complete with the expert evaluations, showing you that investing is all about common sense. This book will not only change your investment attitude, but will also be your bible that guides you towards the successful path, regarding how to add to your portfolio, using the strategies of certified investment.

Take on the Street: What Wall Street and Corporate America Don’t Want You to Know by Arthur Levitt.

Arthur Levitt was the longest serving chairman of the United States Securities and Exchange Commission, supervising the dotcom boom days of the 90′s stock market. In this book, Arthur Levitt reveals the tactics of corporate America for hoarding the billions poured into mutual funds as well as stocks by working Americans. Levitt also reveals how to invest into the stock market, and also in the mutual funds intelligently. He focuses his advice towards the individual small investors and guiding them about the exploitation detection tips, evaluating the press releases and the annual reports, and also discussing about the tactics worth adopting, so as to benefit more from the trustworthy sources.

The Theory of Investment Value by John Burr Williams

It was 1938, when the first edition of this book came into the market. Today it is still considered to be one of the most trustworthy books, which discusses the financial asset evaluation. Burr Williams has combined concepts with actual experiences that took place in the investment world, giving verifiable insights. The breakthrough discovery made by Williams was to give an educated guess that provides a fundamental value called the Dividend Discount Model; this value is still subject to question in the market’s institutional sectors by the professional investors.

Paths to Wealth through common stocks By Philip Fisher

Designed to help those investors who have management queries and issues, this book contains one innovative concept after the other -aiming to lend a hand to every business that needs honest advice regarding investments. In this book, Philip Fisher reveals why worthwhile profits that generate from ownership of common stocks reduce the risk while increasing profits. Many of his ideas in this book are based on orthodox strategies of investment, which are still able to acquire remarkable returns – as a result they are of the utmost relevance in today’s market.

Security Analysis: Principle and Technique by Ben Graham and Dave Dodd

For nearly 70 years, Benjamin Graham’s theories recognized as the groundbreaking ones, have inspired and influenced investors. The Security Analysis, publication of 1934, is no less than a bible for both professional and potential investors. The second edition, from 1940, has been Graham’s protégé Warren Buffett’s most inspirational book.

Common Stocks and Uncommon Profits by Philip A Fisher

Contemporary finance professionals such as Warren Buffett use Philip A Fisher’s investment principles as he is regarded as the pioneer of modern investment theory. This book identifies the value of the maximum length growth stocks as compared to the small duration stocks, and their impacts on the initial foundation of any business/investment. Published in 1958, this investment classic is considered as the foundation for many of today’s investment philosophy and beliefs.

Where Are the Customers’ Yachts? Or A Good Hard Look at Wall Street by Fred Schwed, Jr

This book is known to be amusing and engaging, as it reveals the Wall Street’s hypocrisy and foolishness. The subject of discussion represents a story of a guest in New York who naively asks after admiring the yachts of brokers and bankers, where the yachts of the customers were? This shows that the customers were unable to afford yachts, although they were in constant interaction with their investment advisors, i.e, the brokers and the bankers.

Author is the founder of the free online education site, Warren Buffett Books, which teaches students how to invest like Buffett. The site requires no sign-up or fee and it offers over 10 hours of video based lessons that teach students step by step methods to invest like Warren Buffett. Be sure to follow this link to watch a video on Warren Buffett Book.


Tuesday 23 October 2012

Best Investing Resources and Tips

One of the most difficult aspects of finding sound investment advice is talking to people that aren’t trying to sell you something. So where can you go and who can you talk to without getting caught in a hidden agenda? Well here’s a list of a few resources I’ve uncovered through the years that have helped in my financial understanding.

General Information

For starters, if you’re looking for basic information on stocks and bonds, you’ll find it hard to get a better resource than Investopedia.com. This site has a wealth of information that’s all free and available to the public. Since the site is very robust, it’s likely it can answer almost any financial investing questions you might have.

Simulation Investing

Have you ever wanted to test your strategy before you actually try it out with your hard earned cash? Well, at the Motley Fool, you can do just that. By signing up for a free account, you can pick stocks that you feel will beat the SP 500 and test your strategy. Not only can you test your strategy, but you can also track the successes of other members and users. This approach will definitely provide a quick a free way to validate your investing approach.

Video Based Learning

Although investing is a hard subject to thoroughly understand, visiting the next resource may add a few steps of enthusiasm to your approach. By visiting a website called BuffettsBooks.com, you’ll be sure to watch over 10 hours of video content that teaches investors how to invest like Warren Buffett. The site also provides a money forum where members contribute to each other’s stock and bond picks. Although the site isn’t as large as other investment sites, its community of forum members are some of the most astute investment thinkers you’ll find.

With so much information available online, it’s easy to get tricked into thinking a site is an informational authority when in fact is a marketing scheme. When it comes to investing, these three sites are simply the best on the net. With a little determination and a lot of studying I’m sure these resources will provide you with the knowledge to talking your investing goals.

Thursday 18 October 2012

Gentleman Jim night at Daytona RC

Members of the Red Sox Racing League paid tribute to their friend and fellow driver, “Gentleman Jim” Albertson when they traveled to Florida for the “Gentleman Jim’s 24 Laps of Daytona” at the Daytona International Speedway road course.  One of the founding members of iRacing and an original RSR league member, Albertson has been unable to race since early 2012.  Always a calming presence on the track, his absence from online racing has been felt by the entire online racing community.

As one RSR driver put it before the race “All of us have a favorite memory about Jim. He is the consummate gentleman; always willing to lend advice to new drivers, always quick to share setup tips, and eager to help others learn the fastest way around the tracks.  Jim gave everything he had to helping others improve their skills. It’s not just his helpfulness. It’s also his approach to helping his fellow drivers; he did so with genuine thought and care about how his words and actions would be received by others.  Jim’s approach to life reinforced to everyone, the idea that we should always be civil. Whether it was in the heat of an on track battle, or just in everyday conversation, Jim was the same… a gentleman. I wish we had more like him.”

In further tribute to Jim, Corvette driver Corey Wolf arrived in Florida with a newly painted # 13 car designed to resemble the POW/MIA car Albertson last drove in competition.  “I want the fans to know how much Jim has meant to us all”, said Wolf before the race.  “I hope he gets a big smile on his face when he sees the car in action tonight.”

As usual, Brad Vincent arrived to the track as the heavy favorite to win the Class A HPD event.  He didn’t disappoint in qualifying, earning his sixth pole of the season with a lap time of 1:33.586.  Les Turner started in the second position with a lap time of 1:34.173.  Rows two through five were occupied by; John Koscielniak, Terry Daul, Ed Sutcliff, Andrew Feldman, David Weiss, Divina Galica, William Kabela, and Bill Pawluckie.
Paul Hesla earned his third pole of the season in the Class B Corvette event, barely edging out Jason Brown for the top spot.  Both drivers were almost a full second ahead of the remaining Corvette drivers when they posted 1:38.9+ lap times.  Scott Husted, Corey A. Wolf, Jeff Thomas, Dennis Griffen, and James Prostell, Jr. completed the Corvette grid.  Brown’s car experienced electrical problems after qualifying, so he was forced to begin the race from pit road.

Daytona’s 12 corner, 3.56 mile road course offers drivers a combination of tightly angled infield corners and wide open racing on the steeply banked superspeedway.  The relatively flat design of the infield section means drivers have to pay special attention to the corner exits that lead onto the long straights, something that would come into play throughout the race as drivers pushed to gain speed.

Perhaps in tribute to the calm, cool driving style of their good friend Albertson, the RSR field got off to an incredibly clean race when the green flag dropped.  Weiss, Wolf, and Griffen all gained positions early on, and Wolf and Husted traded spots several times in the opening laps.

On lap 5 Thomas was the first of three drivers to succumb to the hazards exiting turn five when he lost traction and spun harmlessly into the infield grass.  Hesla and Prostell would lose valuable time in the same corner later in the race.

Vincent had gained such a huge lead on the HPD field that despite a spin exiting T3 on lap thirteen he didn’t  lose the lead.  Turner’s spotter barely had enough time to mention the incident before Vincent had corrected his vehicle and accelerated back to race pace.

Sutcliff did a good job of keeping pace with Daul in the first half of the race, but gave up 5th place when he flubbed his exit from pit road on lap fifteen.  “I’m not sure what happened”, said Sutcliff after the race.  “I was exiting pit road with plenty of time to maintain my position, when I suddenly realized my car was skidding into the infield grass!” Husted’s hopes for a podium finish were dashed on lap eighteen when his car spun sideways in T9 and skidded hard into the outside wall.

Overall, the race was run in the way “Gentleman Jim” Albertson would have liked it, with 7 of 17 drivers completing the event without incident, and no major dustups affecting the outcome.


Tuesday 9 October 2012

Facebook Hits 1 Billion User Mark

Facebook has become the first social media network to boast one billion users around the world.

While Facebook has seen the number of users setting up accounts in both the US and UK reach a plateau the social network has still seen users increase in other parts of the world and now has one billion users on the network.

Mark Zukerberg, the founder of Facebook said about the milestone: “Helping a billion people connect is amazing, humbling and by far the thing I am most proud of in my life.”

He went on to say that he is aiming to have the population of the entire world on the social network as his ultimate goal – that would mean almost seven billion users signed up to the social network.

Having a seventh of the total population of the globe using your network is something that has never happened before in history but it has still not helped the share prices for Facebook.

When the company was floated in May it came out at only $104 billion, a disaster in terms of what had been expected from the social networking site.

The announcement of one billion users did perhaps help to raise the price of shares by 10 cents to $21.93 yesterday but that is still only over a little more than half their value when Facebook initially offered them out to the public.

Experts have suggested that a problem with Facebook becoming a public company is the structure at the top of the company.

While it is admirable to maintain a small founding group at the very top of the company, the reality is that a large public company is not usually controlled by so few people and with interests as large as Facebook it has seemed detrimental to share prices to do this.

It has to be considered if the public and other investors are willing to place their hard earned cash into the pockets of only a few people.

What happens if Mark Zukerberg catches a cold and cannot come into the office to make important decisions, or even worse, what happens if he begins to loose interest in Facebook altogether and takes his eye off the ball when it comes to research and development.

Investors are not willing to take risks with their money when these sorts of issues should be ironed out before a company is floated on the market perhaps.

While it was a great day for publicity for Facebook the news that Zynga, the online gaming company that accounts for 14 percent of the revenue created for Facebook, announced that they were cutting their annual forecast.

The company stated that they were at best hoping to break even in the third quarter of 2012 as online gamers spend less and new titles from the company take longer to hit the market.


Sunday 7 October 2012

The Teachings Of Warren Buffet-Secrets You Must Know!

I just stumbled across this on a Website, and thought I’d share it with everyone, I hope you find it worthwhile for your time, read on…

What Warren Buffet says about basic investing, spending, savings are so true. Most of us know it, however too many of us do not live it.

If it does make a change in your life, thank HIM (I mean God) because this is common sense. WB said it once, I am just reproducing it.

1. On Earning:

Do not depend on a single income. Invest and create a second/ third source of income:

This means when you are young your first task should be saving and investing. By creating a second source of income you are quickly reducing your dependence on your job. This could help you to set out on your own one day. The quicker you can do it, the better.

2. On Spending:

If you buy things that you do not need, you may soon have to sell things you need:

It kind of summarizes Gen X’s reaction towards ‘luxuries’. As a part of Gen X we were perhaps criticised for some of our expenses, so it could be a generational thing even for WB. However, having goals and knowing where you are going, and not spending just to ‘show off’ are important lessons for all generations.
3. On Savings:

Do not spend what is left after spending, instead spend after you save/invest:

Also called ‘Pay Yourself First’. If you realise that investing in a pension plan or for your kid’s education is just helping you to save more later on. It is not a sacrifice, it is just postponing consumption. So understand, invest and then spend.

4. On taking Risk:

Never test the depth of the river with both your feet:

If you are doing something, do small. If you are a first gen investor, do not be carried away by equity lovers like me and put all your money in equity. Do a SIP with a small amount, and test the waters. Do a SIP of Rs. X (which could be 10% of your take home pay) for 5 years and then step up. And for heavens sake understand risk of inflation, and the concept of real returns

5. On Investing:

Do not put all eggs in one basket:

Immaterial of who you are and how much you understand, create a portfolio. A full range lunch plate is always better than just one item. So create a portfolio with bonds, bond funds, PPF, NSC, equity, mutual funds, and on the risk side medical and term insurance.

6. On Expectation:

Honesty is expensive, do not expect it from cheap people:
Not everybody is honest, nor does everybody want to be honest. Honest advisers are difficult to find especially in Health and Wealth, be careful.


Saturday 6 October 2012

Three stories of my life': Steve Jobs

This is a commencement address to the graduates of Stanford University by Steve Jobs, CEO of Apple Computer and of Pixar Animation on June 12, 2005.

1. The first story is about connecting the dots. 

I dropped out of Reed College after the first 6 months... Because I had dropped out and didn’t have to take the normal classes, I decided to take a calligraphy class... Ten years later, when we were designing the first Macintosh computer, it all came back to me. And we designed it all into the Mac. And since Windows just copied the Mac... If I had never dropped out, I would have never dropped in on this calligraphy class, and personal computers might not have the wonderful typography that they do... You can’t connect the dots looking forward; you can only connect them looking backwards. So you have to trust that the dots will somehow connect in your future. You have to trust in something — your gut, destiny, life, karma, whatever.

2. My second story is about love and loss. 

I got fired [from Apple]. During the next five years, I started a company named NeXT, another company named Pixar, and fell in love with an amazing woman who would become my wife. Pixar went on to create the world’s first computer-animated feature film, Toy Story, and is now the most successful animation studio in the world. Apple bought NeXT, I returned to Apple, and the technology we developed at NeXT is at the heart of Apple’s current renaissance. And Laurene and I have a wonderful family together. I’m pretty sure none of this would have happened if I hadn’t been fired from Apple. It awful tasted medicine, but I guess the patient needed it. You’ve got to find what you love. So keep looking until you find it. Don’t settle.

3. My third story is about death. 

I was diagnosed with cancer. The doctors told me this was almost certainly a type that is incurable. [Later] I had surgery and I’m fine now. No one wants to die. And yet death is the destination we all share. It is Life’s change agent. It clears out the old to make way for the new. Right now the new is you, but someday you will gradually become the old and be cleared away. Your time is limited, so don’t waste it living someone else’s life. When I was young, there was an amazing publication called The Whole Earth Catalog. On the back cover of their final issue were the words: “Stay Hungry. Stay Foolish”. And I have always wished that for myself. And now, as you graduate to begin anew, I wish that for you. Stay Hungry. Stay Foolish. Thank you all very much.

A Tribute from : Daryn weatherman

Thursday 4 October 2012

Steve Jobs: 9 Valuable Lessons for Entrepreneurs

Steve Jobs was a truly inspiring man whose beliefs and practices have inspired many people.

Following are the top nine most inspiring lessons I have learned from Steve Jobs:

#1 Do things right

At a young age, Steve Jobs learned a valuable lesson from his father: to craft the back of cabinets and fences properly, even though they were hidden.

Jobs learned at an early age that it was important to do things the right way. From the inside out, Steve Jobs believed in simple, beautiful design even on the parts of the product that you don’t see.

#2 Use simplicity in design

People like easy solutions to problems, and Jobs understood that. Apple devices integrate hardware and software flawlessly through simple design. Apple strips any unnecessary features from their products. Steve Jobs prided himself on his design philosophy that he carried with him throughout his time at Apple: Jobs felt that design simplicity should be linked by making products easy to use.

#3 Focus is important

Steve Jobs had the ability to focus intensely on only a handful of core objectives. It was important to him to focus on developing 1 amazing product at a time, instead of 1000 mediocre ones.

#4 Don’t let others say you can’t do something

A job was known for his futuristic imagination when developing products. Often, the Apple engineers would tell him that his ideas were not possible and could not happen. Jobs would tell them to find a way to do it. Steve Jobs adopted the mindset that if he decided that something should happen, then he was just going to make it happen.

#5 Understand customer needs and wants

Jobs had a unique ability to anticipate future technology that people don’t even know they needed. Jobs completely revolutionized the computer, music, phone, and tablet industry. Jobs philosophy is summed up in this quote: Jobs ability to understand human desire and what the next breakthrough technology would be, allowed him to create great companies founded on well designed products.

#6 it’s not about the money

Steve Jobs did not care about money when he built companies. He believed that you should never start a company with the goal of getting rich. Your goal should be making something you believe in and making a company that will last.

#7 Recuit ‘A’ players to your team

Recruiting A players to your team is crucial! Players are the brains behind great ideas and great products. Surrounding yourself with smart, innovative people is the best way to jumpstart a business. But, A players typically like to work with other A players, says Jobs. So, save yourself both time and money by focusing on only hiring A players into your organization.

#8 ‘Talk the talk’ before you can ‘walk the walk’

Jobs was very confident in his abilities, yet extremely persistent with his beliefs. He did not always have the power, or the seniority to voice his opinion so strongly, but Jobs taught me to pretend to be completely in control and people will assume that you are. People naturally like to follow others who exude confidence (not to be confused with cockiness). Jony Ive sums up Job’s persuasive abilities:

#9 Only accept product perfection

Jobs was known to either think something was the greatest thing ever, or think it was awful. There was no in between. Steve Jobs was incredibly passionate about his products, and he showed it. Don’t settle for something just to meet a deadline, work on your product until it is perfect and you are 100% proud of it.
Conclusion

These lessons from Steve Jobs can be very beneficial to you and your business. Think about them and brainstorm how you can utilize them within your business.

For further reading on Steve Jobs, I highly recommend you pick up your own copy of Walter Isaacson’s Biography on Steve Jobs. To this day, it is one of the best books I have read.
Comment to let me know what you think of this post!


Wednesday 3 October 2012

Investment Books Recommended By Warren Buffett

“I always knew I was going to be rich. I don’t think I ever doubted it for a minute.”-Warren Buffett

Warren Buffett is the world’s top business investor and philanthropist. He is the CEO, primary shareholder and Chairman of Berkshire Hathaway, and is ranked amongst the world’s wealthiest people. Known as the wizard of Omaha, he is well known for his value investing philosophy. If you want to invest like Warren Buffett, there are several books, which have inspired and therefore, have been recommended by this influential man -setting you on the right path of investing enlightenment. So here is a brief overview of the most influential books which will set you on the right path to buying stock like Warren Buffett.

The Intelligent Investor by Benjamin Graham

This book was written by the second most influential man in Warren Buffett’s life right after his father. Benjamin Graham, also known as the father of value investing was the mentor of Buffett grounding him with the basic intellectual framework. The book was published in 1949 and since then it has sold millions of copies worldwide. This book, which has been praised by Warren Buffett as the best book ever to be written, focuses not on profit maximization but on loss minimization. The Intelligent Investor is not a book for the day traders or speculators but for true investors. The best part about this book is that it is suitable for laymen giving guidance in adoption and execution of an investment policy.

The Little Book of Common Sense: The Only Way to Guarantee Your Fair Share of Stock Market Returns by John C Bogle

This book gives the most practical advice complete with the expert evaluations, showing you that investing is all about common sense. This book will not only change your investment attitude, but will also be your bible that guides you towards the successful path, regarding how to add to your portfolio, using the strategies of certified investment.

Take on the Street: What Wall Street and Corporate America Don’t Want You to Know by Arthur Levitt.

Arthur Levitt was the longest serving chairman of the United States Securities and Exchange Commission, supervising the dotcom boom days of the 90′s stock market. In this book, Arthur Levitt reveals the tactics of corporate America for hoarding the billions poured into mutual funds as well as stocks by working Americans. Levitt also reveals how to invest into the stock market, and also in the mutual funds intelligently. He focuses his advice towards the individual small investors and guiding them about the exploitation detection tips, evaluating the press releases and the annual reports, and also discussing about the tactics worth adopting, so as to benefit more from the trustworthy sources.

The Theory of Investment Value by John Burr Williams

It was 1938, when the first edition of this book came into the market. Today it is still considered to be one of the most trustworthy books, which discusses the financial asset evaluation. Burr Williams has combined concepts with actual experiences that took place in the investment world, giving verifiable insights. The breakthrough discovery made by Williams was to give an educated guess that provides a fundamental value called the Dividend Discount Model; this value is still subject to question in the market’s institutional sectors by the professional investors.

Paths to Wealth through common stocks By Philip Fisher

Designed to help those investors who have management queries and issues, this book contains one innovative concept after the other -aiming to lend a hand to every business that needs honest advice regarding investments. In this book, Philip Fisher reveals why worthwhile profits that generate from ownership of common stocks reduce the risk while increasing profits. Many of his ideas in this book are based on orthodox strategies of investment, which are still able to acquire remarkable returns – as a result they are of the utmost relevance in today’s market.

Security Analysis: Principle and Technique by Ben Graham and Dave Dodd

For nearly 70 years, Benjamin Graham’s theories recognized as the groundbreaking ones, have inspired and influenced investors. The Security Analysis, publication of 1934, is no less than a bible for both professional and potential investors. The second edition, from 1940, has been Graham’s Warren Buffett’s most inspirational book.

Common Stocks and Uncommon Profits by Philip A Fisher

Contemporary finance professionals such as Warren Buffett use Philip A Fisher’s investment principles as he is regarded as the pioneer of modern investment theory. This book identifies the value of the maximum length growth stocks as compared to the small duration stocks, and their impacts on the initial foundation of any business/investment. Published in 1958, this investment classic is considered as the foundation for many of today’s investment philosophy and money forum.

Where Are the Customers’ Yachts? Or A Good Hard Look at Wall Street by Fred Schwed, Jr

This book is known to be amusing and engaging, as it reveals the Wall Street’s hypocrisy and foolishness. The subject of discussion represents a story of a guest in New York who naively asks after admiring the yachts of brokers and bankers, where the yachts of the customers were? This shows that the customers were unable to afford yachts, although they were in constant interaction with their investment advisors, i.e, the brokers and the bankers. This book gives all the wise advice and promises along with a realistic outlook of the investment world; here the customers lose everything but their brokers acquire their targets, hence it helps investors get an insight into the tough world of Wall Street.

The Interpretation of Financial statements, by Benjamin Graham co-written with Spencer Meredith

Many investors are laymen and are not accountants or financial analysts. If they want to have a look at the balance sheet, they need to understand the financial terms and the roles they play in company analysis. Instead of doing a short course on company accounting, the best way is to start reading this classic book on The Interpretation of Financial statements.

In this book, Graham perfectly guides you through the terms used in a company’s balance sheet and discusses what importance they hold in determining the financial position of a company. He demystifies the complexity of concepts such as maintenance and depreciation, ‘liquidating value’, and net tangible assets.

Author is the founder of the free online education site, Warren Buffett Book, which teaches students how to invest like Buffett. The site requires no sign-up or fee and it offers over 10 hours of video based lessons that teach students step by step methods to invest like Warren Buffett.


Tuesday 2 October 2012

Glass Build America 2012 report

It has been an eventful few years for the glass and glazing industry, with more changes to come as it emerges from the downturn. Mergers and acquisitions, increased expectations from the building community, technological developments and personnel challenges are shaping the industry of today?and tomorrow?according to GlassBuild America attendees.

Business closures, bankruptcies, and mergers and acquisitions have become almost routine, as companies with too much debt and too little cash-on-hand succumb to the lingering market drought, and those with adequate financing take advantage of the business opportunities.

“Mergers and acquisitions keep coming. For a time, every week [saw] another notice of a failure or M&A. We have seen this slow, but they keep coming,” said Oliver Stepe, senior vice president of sales & marketing, YKK AP America, during the State of the Industry panel at GlassBuild America, Sept. 13.

“We’ve seen the failure of some of the seemingly most successful companies in the industry. That creates a tremendous challenge,” he told attendees. “Think about the thousands of employees who have been displaced or feel uncertainty.”

“Eighteen months ago, you probably started to notice bigger companies coming into your neck of the woods,” added panelist Scott Clymire, vice president, United Architectural Metals, speaking to the contract glaziers in the audience. “You were being challenged with being competitive with companies that had different ways of doing things. We see now that some of those business practices were bad ideas. We have seen a lot of failure, and we’ve been dealing with a lot of things over the last 18 months.”

The result is a compressed market, with fewer companies, including some very large players. Additionally, the industry shake-up created trepidation among builders and owners, leading to tightening project terms. “People are nervous,” Clymire said. “We’re seeing the involvement of bonding companies, and additional vendor terms. We’re seeing things like ‘cash on delivery,’ and we are starting to be strict about 30-day terms.”

And, players in the glass industry report difficulty getting paid. “This is a struggle in our industry,” Clymire said. “Until you get paid, we don’t get paid.”

To help combat the problem, glass and glazing suppliers need to team up with the contract glazier on projects. “We need your help—we need to do these things together, not individually,” said panelist Garret Henson, vice president of sales, Viracon.

The technology revolution

Despite the slow construction market, several trends have put increased pressure on the industry, among them: increased adoption of Building Integrated Modeling and a push toward design-build scenarios. The industry has responded in kind by using new technology to meet customer needs.

“We used to just think about the technology of the building and the technology of the system. Now, we also have to think about the technology of the software,” Clymire said. “BIM, integrated project building, require us to be better about what we do. The business wasn’t set up [for these considerations]. Now we have to do 3D models. …. We are training everybody with this new approach, and our contracts are changing.”

Clymire added that BIM models are still behind for the industry, particularly for custom products. “We spend so much time with 3D models for the architect and then move back to 2D models when we’re in the plant,” he said. “We need to [improve] programs to the level where we need them to be.”

As the increased demand for BIM reflects, “It’s no longer enough to just be the expert on framing and glass,” Stepe said. “We have to be experts on the entire discipline, as everything is becoming fully integrated.”

The personnel challenge

Looking forward, companies are facing a three-tiered personnel challenge: to recruit, train and develop talented young people to become future industry leaders.

“We struggle with finding the right talent that is interested in getting into glazing,” Clymire said. With design-assist becoming more common, UAM is seeking architects and engineers that want to get involved on the manufacturing side of the building trade, he said.

As the glass and glazing business becomes increasingly more sophisticated, education and training on all levels at a company are critical. “Our employees are our assets, and the investment in people is important,” Henson added.

And new employees coming into the industry will expect these training opportunities. “More and more, we are hiring new people from outside of the industry, and they’re asking us, ‘what are you doing to train?’” Stepe said. YKK developed several training programs that it utilizes when necessary, including basic product training, one week of manufacturing training, a quick-start program to prepare new employees for customer service within 90 days, and career development training.

“One of the best things you can do is to use an employee to train other people,” Stepe said. “It’s a good motivational technique. Send employees to conferences and symposiums, and when they come back, have [him or her] speak to the team about it.”

“The young people coming in need to be embraced. We have to make the knowledge transfer happen.”


Check out also for Daryn Weatherman Leads St. Charles Glass in Mission to Provide Phenomenal Custom Installations.