No Smoke Without Fire Comment Industrial Focus

NO SMOKE WITHOUT FIRE

It seems that commentators, industry heads, central bankers and, dare I say it, Industrial Focus’s own journalists have made something of an issue of the recent crash in the markets.

On this very page over our most recent issues, I myself have offered nothing less than a salubrious picture of the future of commerce. Undeniably, recent months have been difficult for everyone.
Across the Atlantic, investment banks seem to be folding one after the other in the wake of the credit crunch, which of course has engulfed many a victim in various guises.
As Indymac looks to be the latest to bite the bullet, it’s difficult to see when this crisis will end. And as history teaches us, when we see smoke rising from the Western horizon those in Europe can be sure that we’ll be choking on the same toxins our American cousins are currently suffering. This isn’t Marlboro country, this is the economy forcing itself into a major and lasting recession.
Many economists offer the conservative view that what happens in the US normally takes around eight months to take effect in Europe. But listen to the Bank of England’s Mervyn King, or French President Nikolas Sarkovy, and it becomes very obvious that the mist has already begun to set on many enterprises across the Eurozone. No smoke without fire.
Ironically it’s all been fuelled by the current crisis relating to oil – particularly in the aviation industry (see our cover story p16).
Fortunately some industries saw this coming. For many, business continues to boom – some even making great gains during the greatest recession I have seen since becoming editor of this magazine.
And I’m proud to say that most manufacturers you’re likely to encounter have done well of late, sustaining themselves and their strategies for the long haul.
One thing we at Industrial Focus can guarantee even the most doubting speculator: there will always be growth within the manufacturing industry (and there will always be Industrial Focus).
So take a deep breath of the fresh air surrounding our market, watch as many suffocate due to lack of space in the global economy as you can bear, and enjoy the emission-free, rich and prosperous pages of this latest issue of Industrial Focus.