Obama’s Favorite Business

As America’s automotive industry struggles to put itself back together, John Grabner, president and founder of Cardinal Fastener, prepares to do business with President-elect Barack Obama. Obama will be visiting Cardinal Fastener, a manufacturing company based out of Ohio that supplies steel screws, washers and bolts to the construction and mining industries, to discuss his 825 billion economic recovery and job creation package.
Grabner is unduly optimistic, heralding it “the next automotive industry for the United States. Although sales to companies like John Deere and Caterpillar have slowed during the recession, the growth in sales of nuts and washers to wind turbine manufacturers “has been explosive.”
Grabner claims that his company is actually hiring at a time when we are seeing millions of lay-offs all over the country. The reason for this is the tie Cardinal Fastener has to the green energy sector. Grabner believes that “Obama’s initiative is going to give [his company] at least a 50% growth rate in 2009.” Currently, the manufacturer garners $10 million in annual revenues; a relatively small portion of the $14 billion fastener industry.
Grabner created the company 25 years ago with 11 employees (they are now at 65). Obama’s meeting with Grabner is sure to have a “Joe The Plumber” effect, placing Grabner and his company into the national spotlight.
As the national and global economies adjust to the changes in technology and climate, so will the job market. It’s best to be prepared by keeping your finger on the pulse of the changing times. One way to keep up is to read Employment Crossing. There are vast amounts of information available there that will keep you ready for the future.