Economist warns of coming recession during PTDA Canadian Conference
Ottawa, ON -- The Power Transmission Distributors Association (PTDA) held its fifth annual Canadian Conference, Jun...
Ottawa, ON — The Power Transmission Distributors Association (PTDA) held its fifth annual Canadian Conference, June 1-3, 2006, in Ottawa, Ont., at the Fairmont Chateau Laurier hotel. Designed to provide Canadian-centric educational programming and networking, the conference provided an opportunity for Canadian power transmission/motion control (PT/MC) channel participants to explore nationally-focused industry issues and trends.
More than 230 individuals from 23 distribution companies and 55 manufacturers attended, breaking previous attendance records by 20%.
Highlights of the 2006 program included:
— Keynote presentation by Dr. Peter Andersen of Andersen Economic Research Ltd.
— Update on Canadian manufacturing trends and challenges by Dr. Jayson Myers, Canadian Manufacturers & Exporters.
— Presentations by representatives from two major end-use industries and the Canadian federal government on economic, outsourcing and purchasing trends within their organizations.
— Update from Carl Grenier, Free Trade Lumber Council, on softwood lumber, one of the biggest trade disputes between the United States and Canada.
— Progress report by Ted Chisholm, BDI Canada, on introducing the Industrial Careers Pathway initiative in Canada.
— Personal account by Wendy McDonald, BC Bearings Engineers Ltd., on building and maintaining a successful business with an international presence.
— Formal and informal networking, social events and an optional golf outing.
Invited back for the fifth year based on consistently strong reviews, economist Dr. Peter Andersen shared insights on short and long term economic trends affecting the Canadian economy and their impact on the PT/MC industry. Noting that the Canadian dollar has increased in value by 5% since January 2006, Dr. Andersen predicted it will continue to rise — to between 94 to 96 cents–before returning to the range of 85 cents on the U.S. dollar.
Dr. Anderson urged attendees to be conscious of the current second phase of the economic cycle, characteristically a volatile period, and to be prepared for managing the risk inherent in this economic climate. He forecasted a major recession in 2009-2010, but added that opportunities remain for the Canadian economy because of close reliance on the strong U.S. economy.
The PTDA 2007 Canadian Conference will be held May 31- June 2, 2007, at the Fairmont Le Chateau Frontenac, Quebec City, Que. The program is open to all PTDA members selling product in Canada — distributors and manufacturers — as well as non-members who qualify for membership.
PTDA, which is based in Chicago, Ill., is dedicated to providing exceptional networking, targeted education, relevant information and leading-edge business tools to help distributors and manufacturers meet marketplace demands competitively and profitably. For more information, visit www.ptda.org.