Seattle Bindery Newsletter: Issue No. 51. We welcome your comments. 

1. PIA Industry Forecasts Revised. How have the terrorist attacks on America changed the print market outlook for the rest of 2001 and for 2002? When all’s said and done, PIA predicts that the attacks will probably have cost printers $3.3B or 2% of total annual sales for 2001. The first two weeks after the attacks were especially tough on printers, with an average 17% drop in sales compared to normal September levels.

There is some good news, though. We reported back in Newsletter #49 that, for the economy as a whole, there is light at the end of this seemingly endless tunnel. While print sales for 2002 won’t reach the 3% gain as originally predicted, the print market is still expected to grow next year, Book, packaging, label and wrapper printers will emerge the healthiest, staying close to the 3% annual growth rate predicted for the overall US economy. Following them at a slower growth rate will be general commercial printers and quick printers. Unfortunately, directory and business forms printers won’t do as well, since competition from electronic substitutions will continue to erode business.

2. Tip of the Week. Here’s a little factoid for all you Betsy Rosses out there. Just so you know, there are official colors for the US flag, established by the US Government Printing Office. If you are printing out copies of Old Glory, make sure you’re using PMS 186 (Red) and PMS 288 (Blue).

3. Steady Does It. If you get the chance, read Marty Anson’s recent column in Printing Journal (pg 26, October 2001 issue). His article struck a chord with me because it captures the essence of what we’re all going through as business owners trying to weather this economic storm. I also think we can learn from the positive sensibility he has exhibited in dealing with this not-so-positive situation. Ditto for Mark Beard, whom I quoted on our homepage this month. Rather than following our first instinct, which is to go for short-term quick fixes (like driving down prices to attract sales), we should all be focusing on long-term solutions. As Anson points out, “The good news about tornadoes is that they are short-lived. Although they can leave a path of destruction along the way, I’m certain we’ll still be standing when the sun comes out.”

4. Small Biz Hiring Challenges. With labor markets now in transition, the NFIB (National Federation for Independent Businesses) conducted a study on how the changes are affecting small businesses. Among the results it found, 71% of the small employers polled still find it difficult to hire qualified employees, This is despite the fact that there are many skilled workers out there looking for work right now. The study goes on to show how small businesses cope with unfilled vacancies, as well as strategies for competing with other employers and strategies for retaining existing employees. To examine the 28 page report in greater detail, visit www.nfib.org/PDFs/sbpoll/laborpoll.pdf.

 
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