Is it possible that we are actually coming out of the recession? Business has been picking up all over, and as we go to press, the New York Stock Market has been going through the roof in an enthusiastic show of optimism following a pledge from the head of the European Central Bank to preserve the euro.
|Jacob Fattal, Publisher
While the growth of business in the U.S. has been a slow 1.5 percent, there are many promising signs, especially in the accelerating on-shoring movement. "On-shoring" the exact opposite of "off-shoring" — something that U.S. business has been dealing with for the last 50 years. Now it's starting to come back to the U.S., particularly in the electronics business.
Very often, on-shoring may simply mean the opening of a U.S. plant for an offshore company. Honda and Toyota have been assembling automobiles in the U.S. for decades. It makes economic sense; the cars made here don't have to travel to us on an ocean freighter. In electronics, more and more companies are finding that domestic contract manufacturers can make product at prices that compete with China, and without the angina that goes with constant flights across the Pacific to make sure the product is made correctly.
We recently attended a grand opening and series of symposiums in a brand-new Siplace facility in Suwanee, Georgia, where the on-shoring theme resonated loud and clear (see story page 1). Parent company ASM along with Siplace brought in a number of U.S. industry experts to provide panel discussions about the onshoring movement and what it means to U.S. industry. The sessions were very upbeat and enthusiastic about the "Made in U.S.A." movement.
These are all good signs; while industry is not booming just yet, there are significant signs of growth and new employment. It's heartwarming to see such tangible evidence of a resurging U.S. and worldwide economy. Yes, there are still some rough edges; Greece is still broke and so is Spain, but the EU has taken a stand to keep the union going and to keep the euro healthy. What had been a negative ripple effect is now positive, and in the process is bringing more business back to our shores.