Late last month, the United States experienced the “week from hell” in their financial markets. There is something very wrong when U.S. taxpayers have to dump $700 billion of their hard-earned money into the market because of the greed of a few – especially when those few walked away making a fortune of their own in the process. What has this got to do with the printing industry?
Well, I expect that thousands of U.S. companies will be cutting costs to stay afloat. One of the first things they’ll examine is their advertising budget – including print! This could have a profoundly negative trickle-down effect for a printing industry that’s already operating on precariously thin margins.
Fortunately in Canada, our financial sector is more heavily regulated and partly because of this, our economy is in relatively good shape. Sure, there might be a bit of fallout, but I know from personal experience that Canadian printers are a proud, hard-working, resilient group and will be just fine. I also have all the confidence in the world that our close friends south of the border will emerge from this mess and once again assume their position of leadership.
In other news, congratulations to Louisa Kralka, V.P. of Sales at Phipps Dickson Integria, on her election to chairperson of the CPIA. She brings with her a wealth of knowledge regarding the industry.
In the midst of all the doom and gloom, it’s good to report that Vista Print in Windsor is adding more than 140,000 sq. ft. to its facility to enlarge it to 300,000 sq. ft. It’s also adding new equipment to its operation.
Showtime is upon us. We’re looking forward to our annual trip to Chicago for Graph Expo (Oct. 26 – 29). Chicago is a great city and Graph Expo is always a great show to meet people and discover new technology.
Then we’ll be returning to Toronto for Print World Nov. 22 – 24. We’ll be at booth 1132 – 1134. Check out more details on Print World in our November issue, the pre-show edition.
Until next time, stay focused and stay positive.