December 2021 Edition

December Podcast Guest: Take Ownership To Make Sure You Survive and Thrive!

Ron Slee has been educating the construction equipment distribution industry for about 5 decades – in our latest podcast program, he shares strategies for dealing with skilled labor shortages … and a great deal more. The No. 1 ranking issue keeping business owners awake at night – across all industries – is still the problem of finding enough skilled people to fill available positions. In this edition, renowned industry educator Ron Slee provides practical takeaways you can do now to help solve the labor shortage under your own roof. He also addresses labor from the employee’s point of view and answers the question: What are 3 things a technician wants from their employer that will build their trust and loyalty? Ron is one of the foremost global authorities on dealer product support and operations, so listening to him is like drinking from a fire hose – but Ron is an educator at hear, so he makes his ideas easy to understand and apply to your business. He even offers some clear, concise steps on how to prepare for a successful 2022. You might want to keep a pen and paper handy for this one! CLICK HERE to hear the conversation.  

IEDA Awards Scholarships to 3 Heavy Diesel Tech Students with Life Stories Demonstrating Need, Work Ethic, Industry Passion

Meet the three people who received substantial financial assistance as they work toward careers in diesel equipment servicing. Today, Wednesday, Dec. 15, IEDA’s 2021 President James Rinehart and IEDA Executive Director David Gordon awarded $5,000 scholarships to three students at Western Technical College in LaCrosse, Wisconsin, during a short ceremony. For the first time in its 20-year history, the association created a scholarship program for students enrolled in a heavy equipment diesel program who are pursuing a career in the construction equipment repair and maintenance field. Fifteen applications were received. Two $5,000 scholarships funded by the association were presented to David Roberts and Natasha Normand; a third $5,000 scholarship was recently added by Rick Newman, owner of Newman Tractor, so that Jacob Evers could also be awarded. About the Scholarship Recipients …David Roberts currently holds a 3.97 average in the Diesel and Heavy Equipment Program at Western Tech. He is thrilled to be the first person in his family to graduate with a college degree and hopes to inspire others who choose a similar path. Natasha Normand has completed the two-year Automotive Technician Program with a 4.0 GPA, graduating at the top of her class. She is now enrolled full-time in the diesel program, while working part-time and caring for her 3-year-old daughter. Jacob Evers juggles work and school to pursue his interest in the diesel and heavy equipment industry. A true self-starter, Jason’s work ethic and determination — combined with his scholarship award — will prove to be invaluable in his career path.    

Values Tick Up Month Over Month for Construction Equipment

Looking at resale seasonality, January through May tend to have lower-than-average asking prices while June through December tend to have higher-than-average asking prices.  Continuing the trend we have seen for several months now, activity for construction equipment in October 2021 was down as average equipment age was generally up. On both the resale and auction channels, activity declined more than 30% compared to the same month last year. FMVs nudged up 1.9% from September to October 2021 and FLVs jumped 12.2%, as we continue to see strong demand and lack of new and used equipment inventory. As we mentioned … in this month’s report, we are diving into pricing seasonality for the top equipment types among construction, lift, and agriculture. Among construction equipment, crawler mounted hydraulic excavators are nearly always at the top of the list. For instance, in October 2021 this equipment type accounted for 19.2% of our resale observations and 13.8% of our auction observations. Pricing seasonality specific to crawler mounted hydraulic excavators is quite similar to what we saw for the wider range of construction equipment we discussed earlier in this report. Pricing seasonality for the resale channel is shown below, while auction pricing seasonality follows on the next page. …Variance in pricing was more pronounced for the crawler mounted hydraulic excavators at auction compared to their resale list prices. Over the 58 months analyzed, deviation from the yearly average ranged from -9.4% to 6.4% on the resale channel but was about five times higher on auction, ranging from between -38.2% and 42.2%. READ FULL CONSTRUCTION REPORT

Three Ways Technology Can Overcome Construction Challenges and Where to Start

IEDA dealer: Be your customers’ coach! Show them there are compelling reasons to look to technology to address their ongoing challenges.By Dennis Howard, RDO Equipment   Do you remember the first time you used GPS in your car? Or the first time you saw grade control demonstrated on a motor grader? What about that first “ah, ha!” moment when you realized the impact technology could have on the way we manage and operate equipment? No one leaves their house without their smartphone – heck, I don’t even go into another room at my house without bringing my phone. Likewise, it’s tough to find a jobsite that hasn’t incorporated at least some form of technology. And those investments have started to pay dividends in terms of increased efficiency and performance. There are compelling reasons to continue to focus on using technology, even with current challenges, for both short- and long-term gains. 1. Supply Chain Challenges May Mean New Upgrade Strategies When the first quarter of 2021 began, everyone knew there were supply chain issues. By the second quarter, the problem persisted but there was hope it would improve. By the third quarter, it was a painful realization just how serious the issue is. Now in Q4, it is time to prepare for this challenge to dominate most of next year. Adding machines, new or used, to a fleet is going to continue to be a challenge. But that does not mean companies cannot still invest in equipment – it just may mean investing in existing equipment. One of the best ways to do this is with technology. READ FULL STORY >>