There are growing indications that mid-market exporters are joining Boeing and GE in considering paring domestic manufacturing because the agency no longer is available to ensure access to competitive export financing that private banks can’t or won’t offer.
ProGauge Technologies, in Bakersfield, Calif., for instance, is bidding on a project that could lead to 30 new jobs, but only five are staying in the U.S., according to U.S. News & World Report. “It’s pretty sad not to be able to keep the jobs here” because he couldn’t count on Ex-Im Bank aid, ProGauge president Don Nelson told the magazine.
In a similar vein, earlier this month, mid-market satellite manufacturer Orbital ATK became the second company to lose business because Congress didn’t renew the Ex-Im Bank’s authorization, according to the magazine. Senior Director Ted McFarland said that his Virginia-based company lost a bid for the Azerspace-2 satellite with the government of Azerbaijan because it couldn’t provide export-credit financing, so a foreign competitor won the deal.
The lack of financing for small and midsized companies wanting to export “is a real question for those who think the Ex-Im Bank shouldn’t continue,” Gordon Mills, former administrator of the Small Business Administration and a senior fellow at Harvard Business School, told the Wall Street Journal, “because small businesses really require lots and lots of those services. At the moment, there is no other alternative.”
Ex-Im Bank advocates for the mid-market also have noted that nearly 90% of the bank’s deals last year totaling more than $5 billion in financing and insurance directly served small companies.
Still, so far, instrumental conservative members of the House haven’t backed down from their contention that the Ex-Im Bank serves mainly as a slush fund for big companies that don’t need to be taking advantage of taxpayer-guaranteed funds. They assert that this fount of “corporate welfare” has put other U.S. companies at a competitive disadvantage and distorts export markets, and that the bank’s assistance hasn’t been a crucial adjunct to private capital in the vast majority of instances.
Chief Executive Group exists to improve the performance of U.S. CEOs, senior executives and public-company directors, helping you grow your companies, build your communities and strengthen society. Learn more at chiefexecutivegroup.com.
0
1:00 - 5:00 pm
Over 70% of Executives Surveyed Agree: Many Strategic Planning Efforts Lack Systematic Approach Tips for Enhancing Your Strategic Planning Process
Executives expressed frustration with their current strategic planning process. Issues include:
Steve Rutan and Denise Harrison have put together an afternoon workshop that will provide the tools you need to address these concerns. They have worked with hundreds of executives to develop a systematic approach that will enable your team to make better decisions during strategic planning. Steve and Denise will walk you through exercises for prioritizing your lists and steps that will reset and reinvigorate your process. This will be a hands-on workshop that will enable you to think about your business as you use the tools that are being presented. If you are ready for a Strategic Planning tune-up, select this workshop in your registration form. The additional fee of $695 will be added to your total.
2:00 - 5:00 pm
Female leaders face the same issues all leaders do, but they often face additional challenges too. In this peer session, we will facilitate a discussion of best practices and how to overcome common barriers to help women leaders be more effective within and outside their organizations.
Limited space available.
10:30 - 5:00 pm
General’s Retreat at Hermitage Golf Course
Sponsored by UBS
General’s Retreat, built in 1986 with architect Gary Roger Baird, has been voted the “Best Golf Course in Nashville” and is a “must play” when visiting the Nashville, Tennessee area. With the beautiful setting along the Cumberland River, golfers of all capabilities will thoroughly enjoy the golf, scenery and hospitality.
The golf outing fee includes transportation to and from the hotel, greens/cart fees, use of practice facilities, and boxed lunch. The bus will leave the hotel at 10:30 am for a noon shotgun start and return to the hotel after the cocktail reception following the completion of the round.
