Cornwell Tool Show - 2008

Just some photos from the Cornwell show, which took place last weekend in the Gaylord Resort in Nashville, TN. That's the world-famous Joe Mocilac from SP Tools in the top photo, showing off his latest and greatest new product to an earnest Cornwell Tool man. Center photo is the McCourt Industries tool truck. They take this truck to many shows throughout the year, to give distributors a better opportunity to see all they have to offer. Bottom photo is Mark Hessler from Vacula. He's demonstrating the value of their new DX-fluid handling products.

China Economics 101

The folks at Matco gave out some statistics and information on China at their show last week. Here's just some of what they reported:

The Value-added tax used to be 19%, it has been re-set to 5%.
Wages - they're going up an average of 10% each year.
Food costs - up 18% in 2007.
Inflation - up 6.9% in 2007
Home prices - up 11.3% in January 2008 v. January, 2007.

Now, here's some economic information from my favorite Chinese newspaper, Chinadaily.com:
The central government plans to increase spending on rural development by 30% in 2008.
They will establishe 30 high-tech industrial bases, focusing on things like information, biological technology, civil aviation, the astronautical sector, new materials and new energy. What's our country doing to develop technology in these areas?

Last year, the industrial output of the high-tech sector in China accounted for 7.8% of their GDP. Meanwhile, new high-tech exports hit US$347.8 billion, accounting for nearly 30% of the nation's total exports. Industrial output and exports have risen at an average annual rate of 21.5% and 37.7% respectively, during the past seven years through 2007. This year, ten million jobs are expected to be created in urban areas.

China's economy grew by 65.5% over the past 5 years, with an average annual increase of 10.6%, to become the world's 4th largest economy in 2007. Earlier this week, China's parliament announced a targetd GDP growth of 8% for 2008. They expect to hold their CPI at 4.8% in 2008, however their PPI climbed 6.1% in January, from a year earlier.

Think prices for imported tools and equipment are going to stay low? Think again.

Matco Tools Awards Suppliers

In addition to new products and 920 distributors, Matco announced the top suppliers. These are the manufacturers who worked with Matco to improve delivery times, improve quality, introduce new products, etc. Matco had a whole list of items they consider when rewarding their suppliers.

Best Line Review: Astro Pneumatic

New & Exclusive: Professional Tool Products

Most Improved: SP Tools. Paul Schley, Joe Mocilac and their team reduced their lead time by 33% in 2007. That's incredible!

And the

Supplier of the Year: Lisle Corporation

Once again, Fred Lisle, Jon Bielfeldt and their team took home the supplier of the year award. Lisle consistently ships on time, they consistently introduce new products, and their order fill consistently meets Matco's requirements.

Congratulations to this year's award winners!

More from the Matco Show

The Matco Tool Fair was held at Rosen Shingle Creek Resort in Orlando, FL this year. The sun was shining hot outside and the tools were hot on the inside of the show as well.

With more than 920 distributors, 90,000 sq. ft. of expo space, 110 suppliers and 170 new products with more than 65 New & Exclusives — Matco rocked Orlando. While the Expo floor was filled with celebrities — including Top Fuel Dragsters Cory McClenathan, Tony Schumacher, “Hot” Rod Fuller and Antron Brown — the real stars of the show were the Matco distributors who came from across the country to see what the suppliers and Matco had new to offer. Matco also rewarded the Top 200 distributors with a sneak preview hour on the Tool Expo floor.
Courtney Hansen, host of Spike TV’s “Powerblock” and new spokesperson for Matco, interviewed suppliers throughout the show, including Bill Fletcher from Mayhew Tools and Jon Bielfeldt of Lisle Tools. A compilation of those interviews will be produced into a DVD that will be played on Matco distributors’ trucks.