Going back for some detail on the speakers, Steven Gold was the first featured speaker and Steven is from MAPI where economics is their core mission. This is actually the 80th Anniversary of MAPI and if you have not heard of it before, it stands for Manufacturers Alliance for Productivity and Innovation. Here is there website.
To industry people, like myself, really like those words Productivity and Innovation as they are both key activities to the success of the fluid power industry. This theme has been playing for a while at NFPA and that is great because the industry must keep on innovating to stay competitive.
Some of my key takeaways from Steven's presentation are that there have been more than 80,000 regulations put in place in the United States since 1992. Dodd-Frank and the Affordable Health Care Act have both added many new regulations. About 1,300 are new each year compared to about 133 bills that go through Congress
In a survey of NFPA membership, Steven found that 85% feel that regulations are increasing for them. The SEC is actually adding the most right now. In a volatile economic climate, increased regulation scold have a negative effect on business. All in all, this was a well presented and very informative talk.
Here is a part of the Conference that was probably even more enjoyable.
Thanks again NFPA team for a great site selection!