Timken adds greases to industrial line
Machine tool consumption continues recovery
Boeing celebrates milestone with 500th 777 airframe
Productivity increases 1.9 percent in third quarter
Manufacturers Alliance predicts expanding economy
Unemployment holds relatively steady in October
CEOs depart workforce at slower pace

Timken adds greases to industrial line
Timken expanded its line of industrial lubricants to include ultra-high speed spindle grease, food-safe grease, synthetic industrial grease and multi-use lithium grease.

In addition to protecting bearings from heat, wear and corrosion, three of these specially formulated lubricants offer synthetic base oil technology. This helps promote longer overall grease and bearing life, as well as a wider operating temperature range compared to conventional greases. In addition to the synthetic greases, Timken multi-use grease rounds out the offering as an economical solution for less demanding applications.

"Bearing life ratings have increased throughout the years, making the lubricant a limiting factor toward total bearing life," said Dave Pierman, product manager of lubricants/lubricant delivery systems. "Increasing the lubricant life through synthetic technology creates a total product package that is more commensurate with today's expected bearing life."

Each Timken lubricant is designed to be application- and environment-specific. For example, the ultra-high speed spindle grease is designed for bearings in machine tools for drilling or grinding that experience ultra-high speeds and extreme temperatures.

Food safe grease is a semi-synthetic product that is H1 and Canadian Food Inspection Agency (CFIA) certified. It offers the food and pharmaceutical industries protection against hot and cold temperatures, moderate to high speeds, medium loads and incidental food contact.

Timken's synthetic industrial grease is intended for use in extreme temperature, severe loads, corrosive and slow- to moderate-speed environments like those found in wind energy main bearings, pulp and paper machines, marine applications or general heavy industry.

Multi-use lithium grease is suited to handle moderate speed, temperature and water, and light to moderate loads, such as in pins and bushings, water pumps, track rollers or other general industrial applications.

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Machine tool consumption continues recovery
September U.S. machine tool consumption totaled $389.2 million, up 89.8 percent from August and up 74.6 percent from the total of $222.86 million reported for September 2003, according to the American Machine Tool Distributors' Association (AMTDA) and the Association For Manufacturing Technology (AMT).

With a year-to-date total of $2.1 billion, 2004 is up 42.2 percent compared with 2003.

"Manufacturing in the U.S. continues to show signs of a strong comeback," said Ralph J. Nappi, AMTDA president. "Machine tool orders in September hit their highest level in four years with all regions of the country showing growth. The recent re-election of President Bush will further solidify the comfort of manufacturing with continued capital investments."

U.S. machine tool consumption is also reported on a regional basis for five geographic break-downs of the United States.

At $55 million, September machine tool consumption in the Northeast was up 102.3 percent compared to August's $27.2 million and up 98 percent compared to last September. At $312.6 million, year-to-date machine tool consumption was 52.7 percent higher than the comparable figure in 2003.

September machine tool consumption in the South totaled $42.9 million, 27.5 percent higher than the $33.6 million tallied in August and 36.2 percent higher than the total for September a year ago. The year-to-date total of $314.8 million was off 1 percent compared to 2003 at the same time.

At $162.8 million, September machine tool consumption in the Midwest was 156.5 percent higher than August's $63.5 million and 46.6 percent higher than the total for September 2003. With a year-to-date total of $853.7 million, 2004 is running 43.2 percent ahead of 2003 at the same time.

Totaling $72.5 million, September machine tool consumption in the Central region was up 50.6 percent compared to August's $48.1 million and 115.4 percent higher than the September 2003 figure. With a year-to-date total of $386.5 million, 2004 machine tool consumption was 58.7 percent higher than the comparable figure for 2003.

Machine tool consumption in the West in September rose to $56.1 million, a 72.1 percent rise over August's $32.6 million and 196.1 percent higher than the September 2003 total. The year-to-date total of $279.4 million was 89.6 percent higher than the 2003 total at the same time.

The United States Machine Tool Consumption (USMTC) report, jointly compiled by the two trade associations representing the production and distribution of manufacturing technology, provides regional and national U.S. consumption data of domestic and imported machine tools and related equipment. 

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Boeing celebrates milestone with 500th 777 airframe
The three main sections of the 500th Boeing 777 were joined by factory workers Nov. 8, according to the Boeing Co. The 777 is assembled at the company's plant in Everett, Wash.

The 500th airplane, a 777-300ER (Extended Range), is scheduled for delivery to International Lease Finance Corp.'s customer Air France in December.

The first 777 was delivered in May 1995. The 777 has reached 500 airplanes delivered sooner than any other twin-aisle airplane in commercial history.

The Boeing 777 has captured 65 percent of its market since the airplane's October 1990 launch. Thirty-seven customers and operators worldwide have ordered 642 airplanes.

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Productivity increases 1.9 percent in third quarter
Productivity grew at a 1.9 percent annual rate during the third quarter of 2004, according to the Labor Department. Output grew 4.1 percent in the third quarter and hours worked rose 2.1 percent.

Productivity increased 3.9 percent in the second quarter of 2004, as output grew 4.2 percent and hours rose by 0.3 percent.

Productivity increased 4.3 percent in manufacturing in the third quarter of 2004, as output grew 4 percent and hours of all persons fell 0.3 percent. In durable goods, productivity grew 5 percent as output increased 6.3 percent and hours of all persons rose 1.3 percent.

The hourly compensation of manufacturing workers increased an average of 4.4 percent during the third quarter of 2004, reflecting increases of 3.9 percent in durable goods and 5.1 percent in non-durable goods.

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Manufacturers Alliance predicts expanding economy 
The Manufacturers Alliance/MAPI projects solid growth in the next two years for the U.S. economy and expects the manufacturing sector to continue to outpace the overall economy.

But the pace of growth is likely to decelerate, in relation to 2004, at least in the next year.

The Manufacturers Alliance/MAPI Quarterly Economic Forecast predicts inflation-adjusted gross domestic product (GDP) growth to be 3.9 percent in 2004 and 3.4 percent in 2005. The new prediction for 2004 is down from 4.5 percent in the August forecast, while the new 2005 outlook is down from 3.7 percent in the August outlook. The November forecast looks at 2006 for the first time and predicts GDP growth to be 3.3 percent.

“The surge in oil and other commodity prices and rising penetration from imported goods is taking its toll on the industrial sector,” said Daniel J. Meckstroth, chief economist for the Manufacturers Alliance/MAPI. “Economic growth and industrial activity will now grow more slowly than we previously expected for the rest of this year and in the first half of 2005. We continue to expect that business capital investment will be an important contributor to economic growth—a sign that business is confident about future business prospects. We also expect to see growth in exports that are faster than for imports in 2005 and 2006, and this will stabilize the trade deficit.”

Manufacturing activity should continue to grow faster than the general economy, with industrial production growth expected to increase 5.2 percent in 2004 (down from 6 percent forecast in the August projections) and 4.1 percent in 2005 (down from 5.7 percent in the August forecast).

Industrial activity is predicted to accelerate to 5 percent growth in 2006. The largest percentage gains will come from a rebound in the high-tech sectors of manufacturing. Computers and electronic products are expected to rise 17.3 percent in 2004 and 13.7 percent in 2005.

Non-high-tech industries will grow moderately this year and next, at 4 percent and 3.3 percent, respectively.

Real investment in equipment and software should increase 11.6 percent in 2004, 9.3 percent in 2005, and 8.1 percent in 2006, growing several times faster than the general economy. Net exports also should contribute to economic growth. Inflation-adjusted exports should rise 8.3 percent this year and 8 percent next year, while imports are expected to increase at a more moderate 9.5 percent in 2004 and 5.2 percent in 2005. This is partially due to expected depreciation of the dollar.

The forecast also envisions the unemployment rate remaining relatively stable, averaging 5.5 percent in 2004, 5.3 percent in 2005, and 5.4 percent in 2006.

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Unemployment holds relatively steady in October
Employment increased by 337,000 in October, and the unemployment rate inched up to 5.5 percent, according to the Department of Labor.

The manufacturing sector lost 5,000 jobs in October; it has changed little since May. Manufacturing added 82,000 jobs during the February-May period. The manufacturing workweek and factory overtime were down by 0.1 hour, to 40.7 hours and 4.5 hours, respectively.

National Association of Manufacturers president John Engler attributed weakness in the manufacturing employment picture to unwise government policies that drive up the cost of labor, advances in technology that reduce the need for labor, and a growing shortage of applicants qualified to work in modern manufacturing.

"The external costs associated with taxes, health care, litigation, regulation and soaring energy prices add 22.4 percent to the cost of labor in this country," Engler said. "High costs of production at home plus unprecedented global competition are forcing more and more manufacturers to adopt advanced technology to reduce the need for labor."

He added: "As our industries become more high tech, they are finding it increasingly difficult to find qualified labor. Our schools are not equipping young people with the science, math, computer and communication skills they need to work in modern manufacturing. There is a serious educational gap that must be addressed if we are to retain and enhance our world leadership in manufacturing."

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CEOs depart workforce at slower pace
Turnover among corporate America's leadership declined to a near record low in October, according to the report on CEO departures from global outplacement firm Challenger, Gray & Christmas Inc.

Forty-five chief executive departures were announced in October, 22 percent fewer than the 58 in September. It was the lowest CEO turnover month since August 1999, when 32 chief executive changes were recorded.

Through October, 561 CEO changes were announced. That is 12 percent below 635 announced in January-October 2002, the last full year in which Challenger conducted monthly CEO tracking.

"Much like lower levels of the corporation, the executive suite is dealing with an aging workforce and the potential for a surge in retirements," said John A. Challenger, CEO of Challenger, Gray & Christmas. "The concern is that the exodus at the top of an organization could leave a company without its most valuable resource: knowledge. If there are not enough younger managers and executives being groomed for senior roles, there could be a significant loss of corporate memory at the highest level of the company."

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