Update: Katrina's Job Impact

Hurricane Katrina's effect on employment isn't as devastating as some expected, though the latest data are more imprecise than usual.

The government's first formal look at Hurricane Katrina's effect on national employment suggested far less damage than many analysts had feared. The Labor Department reported this week that the economy lost a net 35,000 jobs in September, far fewer than the widely predicted decline of 130,000 to 200,000. Stay tuned.

Read more here.

Delphi Corporation to File for Bankruptcy

I could see this one coming for a long time. How about you?

Has your community been feeding Delphi incentives like logs on a hot fire for the past decade. I would not be surprised to hear that. Don't let them off the hook! Same advice on Ford Motor Company and the other automotives that have emptied the incentive candy store in many states.

Delphi Corp. is expected to file for bankruptcy in a New York court on Saturday, a source familiar with the situation said on Friday. The board of the Troy, Michigan-based company is set to meet on Saturday morning to make the final decision on filing for bankruptcy.

According to a recent Reuters article, the auto parts maker is not cash-strapped but is filing to take advantage of current, more lenient, bankruptcy rules, which are set to change on October 17, making reorganizations more challenging. It is also filing to pressure its unions to come up with wage concessions.

More later.

On Change...

"People don't resist change. They resist being changed!"

— Peter Senge

Personal Change

"One key to successful leadership is continuous personal change. Personal change is a reflection of our inner growth and empowerment."

— Robert E. Quinn

Attitude

"The greatest discovery of my generation is that human beings can alter their lives by altering their attitude of mind."

— William JamesPsychologist

Canadian Metro Area Entertainment Clusters

Are you curious about how concentrated various Canadian metro areas in entertainment services?

Since I am working on a major study of the entertainment, arts, and recreation cluster, I was in the hunt for some good ranking information. I found it, and you can download it here.

Source: Canadian Institute for Competitiveness and Prosperity

China and Global Steel

Global steel demand is expected to rise by between 4% and 5% in both 2005 and 2006, according to the industry association the International Iron and Steel Institute (IISI).

The IISI estimates that global demand for finished steel products will be between 1.040 billion and 1.053 billion tons in 2006, compared with 972 million tons in 2004.

The strongest growth continues to come from China, which should see a 10% increase in steel demand in 2005 and a further 7% to 10% growth next year," the IISI said.

Read more here.

Views of the Future

Makes you think! From Fast Company.

"On demand is the future of software for many years to come, and we are building it on Linux."
Charles Phillips, Oracle president, August 9, 2005

"Meta-search is the future of online travel, and Kayak.com has emerged as the top site in the space." Steve Hafner, CEO and cofounder of Kayak.com, August 16, 2005

"The iBra is truly a giant step into the future of comfort and is a result of what happens when technology finally understands a woman." Liz Smith, director of retail services for Wacoal, August 2, 2005

"We believe subscription will be the digital-music business model of the future, and Napster Japan will expedite our entry into the digital-music industry under the name of the most powerful and universally recognized brand in the business." Hiroyuki Fushitani, Tower Records Japan's CEO, August 3, 2005

"Radio-frequency technology is the way of the future in payments, and we are pleased to be first to introduce our customers to MasterCard PayPass debit cards, which utilize this technology."
Carl Stauffeneger, SVP of product management for KeyBank consumer-product development, August 4, 2005

"With its leading content and technology expertise, Sony Online Entertainment's involvement further demonstrates the importance of video-game advertising to the future of the game industry." Mitch Davis, CEO of Massive Inc., a video-game network, August 8, 2005

Top Ten Places for Seniors

Top Ten Cities for Seniors

1. Portland, OR
2. Seattle, WA
3. San Francisco, CA
4. Pittsburgh, PA
5. Milwaukee, WI
6. Philadelphia, PA
7. New York, NY
8. Boston, MA
9. Cincinnati, OH
10. Chicago, IL

Learn more here.

Latest Business CEO Views

The 11th edition of the Grant Thornton Business Leaders survey looks at how chief executive business leaders are making strategic decisions in a time of ambiguity and increased risk. In this environment, CEOs are:

* Growing their businesses through increased investment in technology, expansion into new domestic markets and restructured pricing.

*Considering growth strategies domestically and internationally. Within the next two years, 52 percent of business leaders are planning a domestic strategic alliance and 24 percent are planning an international alliance.

*Aware of all company operations. Eight in 10 respondents agree that the CEO needs to have a heightened awareness of what is happening in all aspects of the operation.

*Looking to mentors. Seven in 10 (69 percent) of respondents think it is important to have a mentor and an equal 69 percent do, in fact, have a mentor(s). Two-thirds (66 percent) also act as mentors to others.

Can economic developers be mentors to business CEOs? I believe we can. Remember: Mentorship is leadership!

Download summary here.

Industry Profile: Testing Labs (NAICS 54138)

Industry Definition

This industry comprises establishments primarily engaged in performing physical, chemical, and other analytical testing services, such as acoustics or vibration testing, assaying, biological testing (except medical and veterinary), calibration testing, electrical and electronic testing, geotechnical testing, mechanical testing, nondestructive testing, or thermal testing. The testing may occur in a laboratory or on-site.

Research and testing can be carried out within the laboratory environment or it may involve field studies. Much of the testing in This industry report involves the maintenance of utility, agricultural, food and industry/product standards. The research is carried out and used by industry, government, universities, colleges, individuals and non-profit organizations.

Industry Activities

The primary activities of firms in this industry are:

Acoustics testing laboratories or services
Assaying services
Automobile proving and testing grounds
Biological (except medical, veterinary) testing laboratories or services
Calibration and certification testing laboratories or services
Electrical testing laboratories or services
Environmental testing laboratories or services
Film badge testing (i.e., radiation testing) laboratories or services
Fire insurance underwriters' laboratories
Food testing laboratories or services
Forensic (except medical) laboratories or services
Geotechnical testing laboratories or services
Hydrostatic testing laboratories or services
Industrial testing laboratories or services
Laboratory testing (except medical, veterinary) services
Mechanical testing laboratories or services
Metallurgical testing laboratories or services
Non-destructive testing laboratories or services
Pollution testing (except automotive emissions testing) services
Product testing laboratories or services
Radiation testing laboratories or services
Radiographic testing laboratories or services
Radon testing laboratories or services
Seed testing laboratories or services
Soil testing laboratories or services
Thermal testing laboratories or services
Vibration testing laboratories or services
X-ray inspection services

Industry Products

The major products and services in this industry are:

Construction materials engineering
Chemical testing
Product performance testing
Mechanical testing
Biological testing
Electrical/electronic testing
Meteorological testing
Environmental impact testing
Nondestructive evaluation testing
Geotechnical testing
Forensic testing
Thermal testing
Acoustic / vibration testing
Surface analysis/ microscopic testing
Optics/photometry testing
Radiation testing

Interested in more information about this sector. ED Futures would be delighted to conduct target industry research on this sector for your area. Contact us about the details and pricing.
Don Iannone: (Tel): 440-449-0753; (Email): dtia@don-iannone.com

Older Workers: What Do You Think?

Here are some of the salient findings os a recent study of older workers by the Familes and Work Institute:

· The workforce is aging. In 1977, 37% of the wage and salaried workforce was under 30 years old compared with only 22% in 2002, and only 38% was 40 or older in 1977 versus 56% in 2002.2 In 1970, the average life expectancy of Americans was 70.8 years; in 2001, it was 77.2 years.

· While predictions of the severity of the coming talent shortages can be debated, there is evi­dence that a number of companies are increasingly interested in holding onto the talent of their more experienced employees.

· Many employees are not in good positions to retire: 32% have not saved for retirement, only 42% have tried to calculate how much money they will need for retirement, too many expect to receive income from a defined benefit pension plan (52%) and employer-based retiree health insurance (35%), and only 24% are very confident of having enough money to live comfortably throughout their retirement years. Thus, the average age at retirement is becom­ing increasingly older.

Employers are faced with a workforce that is far more diverse, not only in ethnicity and gender but also in age. That has led to a great deal of speculation about how this age diversity will affect the U.S. economy and companies:

· Will employees of different ages be able to work together in constructive ways? Or

· Will “age waves”—sharp fissures among the generations—prove disruptive and even destructive for employers and employees alike?

Download the report here.

Amusement and Recreation: Private Investment Trends