May 2021 Article by:

Michael S. Hampleman & Roman A. Basi

Basi, Basi & Associates at The Center for Financial, Legal & Tax Planning, Inc.

If you are a business owner that received PPP funds but did not utilize them on your tax return, pay close attention to the substance of this publication. The IRS has publicized a safe harbor for certain companies that received first-draw Paycheck Protection Program (PPP) loans but did not deduct any of the original qualified expenses because they relied on direction issued before the execution of the Consolidated Appropriations Act, 2021 (CAA), in December 2020.

MORE JOBS LOST IN CALIFORNIA?
An estimated 100,000 combined industry jobs are at risk.  The California Air Resources Board (CARB) is planning to phase out decorative hex chrome by 2023. California metal finishers will no longer be able to provide this service.  A ban is extreme and overkill.

Fact: Decorative and functional (hard) chrome and chromic acid anodized metal finishing is less than 1% of total chrome VI emissions for the entire state of California.

You may have seen recent posts about Pac-West’s new and improved LinkedIn page. We want to offer a more detailed explanation of why we’re making the switch and the benefits of following our new page.

For years, Pac-West’s main LinkedIn presence has been our group. Making the switch to a company page has a variety of upsides: for one, our posts will now be viewable publicly, so that anyone who is learning about Pac-West for the first time can see what we do without having to join the group. In addition, the new page comes with a great new benefit for our members: the ability to tag Pac-West in your LinkedIn profile.

Advance Components is proud to announce a new partnership with Gage Bilt, a top manufacturer of rivet and lockbolt installation tools and components. Advance will now stock Gage Bilt’s extensive line of pneudraulic, hydraulic and pneumatic tools.

Since 1956, Gage Bilt has been manufacturing economically-priced, heavy duty riveters to install a wide variety of aerospace and commercial fasteners. Gage Bilt tools are ergonomically designed for fast installations, reduced hand fatigue, and simple maintenance. Gage Bilt tools can be used to install fasteners from POP®, Avedel®, Cherry® and Huck®.

From the NAW Blog:

Personalization is table stakes for any successful e-commerce website that offers more than a handful of products. As the diversity of products grows and each item becomes more targeted in use, it’s not practical to present one’s full selection to all customers (i.e., “Results 1-25 of 151,432 products”). It falls to site merchandisers to refine those results and decide which products to present to each customer.

From the NAW Blog:

The effects of the COVID-19 pandemic on the supply chain linger in 2021. The most visible challenge for distributors has been extended lead times, which means frustrating backorders for customers who need product now — and not three weeks from now. That’s unlikely to change soon.

From the NAW Blog:

Distributors are well-positioned to work intimately with key customers. They can devote the time and resources to engage proactively with customers to understand needs and goals. They can analyze both transactional and customer-provided data to generate industry-specific insights, develop robust benchmarks (in the form of spending patterns seen across similarly grouped customers) and tailor advice to match customer objectives. The benefits of doing so are immense.

From the NAW Blog:

It’s no secret that for years most distributors have neglected core sales skills training for their sellers. There are several reasons for this benign neglect of sales skills investment. First, historically, industrial B2B buyers didn’t necessarily need a highly skilled seller. Their purchases were largely needs-driven — not discretionary — and so the core need was product or technical expertise and order fulfillment. For this reason, virtually all systematic sales training in distribution was focused on products and applications (not selling skills or competencies).

From the NAW Blog:

During and after extreme disruption, such as that caused by the COVID-19 pandemic, the thought of doing a performance assessment can be overwhelming. However, taking a microscope to performance in a time of crisis can tell us more about our core underlying capabilities than in a time of stability.

Lancaster, PA – February 24^th, 2021  All America Threaded Products (AATP) is pleased to announce they have hired Al Bate as their National Sales Manager. Al brings with him a broad background as a Fastener Industry professional and leader with a track record of successful team management and development in sales, operations and manufacturing. His Fastener career spans over 30+ years across the UK, Europe and since 2008, the USA. He has held leadership roles with several divisions of the TR Fastenings group through much of his career, in both the UK and the USA.

In 2018, he took two years out of the industry to follow his entrepreneurial bent and help build Fast-Exec LLC—a head-hunting agency specializing in the industrial fastener industry—founded by his wife, Jacqui.

Lancaster, PA – March 8, 2021 Danielle Maze joins All America Threaded Products (AATP) as the Northeast Regional Account Manager. In addition to those accounts, she will also be managing catalog accounts. She brings over seven years of experience as Operations Manager, Service Manager, and Customer Service in the printer, toner, and copy paper industry at Weaver Associates Inc.

In addition to her sales experience, Danielle has managed delivery drivers, service teams, logistics requirements, and service calls. This foundation gave her the skills, attributes, capabilities, and attitude that made her an ideal candidate for further developing and building excellent customer relationships. Her keen sense of operations and logistics management means she is no stranger to the value of reliability, delivery and service.

Throughout the pandemic, distributors have proven critical to saving lives and keeping the economy moving by reliably distributing food, medicine, PPE, and other vital supplies to every corner of America. As we enter a new phase where vaccines are making their way into the arms of millions of Americans, our industry has a critical opportunity to step up once again and accelerate the American recovery.

NAW and our member companies are partnering with the National Football League to support mass vaccination sites in stadiums across the country. When fully operational, these sites will have the capacity and vaccine supply provided by FEMA to vaccinate thousands of people each day. NAW is actively building a coalition of distributors who are committed to accelerating the administration of the vaccine and are able to help the NFL secure items needed to operate these mass vaccination sites. 

This week, NAW member companies have begun donating supplies to the Detroit Lions and Pittsburgh Steelers to support the launch of their vaccination sites; we expect to speak with many of the remaining 30 NFL clubs shortly to understand their needs and connect them with distributors best positioned to meet those needs. 

If you would like to join us and have the ability to donate or serve as a source for purchase for any of the following items, please respond directly to me and NAW’s Chief Business Development Officer Dan Schuberth ([email protected], 732-585-3010):

February 2021 Article by:

Michael S. Hampleman & Roman A. Basi

Basi, Basi & Associates at The Center for Financial, Legal & Tax Planning, Inc.

Business owners, CPAs, loan officers, and if applicable, business brokers, should use a variety of tactics simultaneously as businesses pursue economic support in the form of a second draw of PPP funding. Per advice from the AICPA, the American Institute of Certified Public Accountants, borrowers may need to be act quickly and diligently to fill out their forms for a second round of PPP funding.

Some lenders are requiring PPP borrowers to apply for forgiveness on their first-draw PPP loan before they file to seek a second-draw PPP loan. However, according to the SBA and Treasury, this is not a requirement. Possible borrowers may want to consider other lenders to process the second-draw loan application without the business having to file for forgiveness on their first PPP loan.

SPIROL is pleased to introduce a new, high-performance series of Molded-In Inserts for plastics assemblies. The rugged design of the Series 63 Through Hole Inserts and Series 65 Blind End Inserts consists of multiple bands of helical knurls to maximize torque resistance, balanced with radial undercuts to achieve high pull-out (tensile) force. These Molded-In Inserts are designed to be placed in the mold cavity prior to plastic injection, and offer exceptional performance due to unrestricted plastic flow into the retention features on the outside diameter of the Inserts.

These lightweight, lead-free Threaded Inserts for Plastics are manufactured from 2024 grade aluminum which provides the best combination of strength, corrosion resistance, machinability and cost. The Series 63 and Series 65 Molded-In Inserts are lead free, 40% stronger than brass, and 1/3 the weight of the same Insert manufactured from brass. Standard metric thread sizes include M4, M5, M6, and M8, and standard inch threaded sizes include 8-32, 10-24, 1/4-20, and 5/16-18.

ST. LOUIS, MISSOURI – February 18, 2021.

EFC International is pleased to announce its expanded focus on the world-wide distribution of genuine parts made by Research Engineering & Manufacturing, Inc. (REMINC) Authorized Licensees. EFC’s team of application engineers support customers with advanced engineering assistance, direct factory relationships and rapid prototype solutions, as well as extensive value analysis and value engineering services. Matt Dudenhoeffer, President and CEO of EFC, states, “EFC, REMINC and REMINC’s Licensees look forward to this partnership knowing that end-users will benefit from our combined strengths.”

January 2021 Article by:

Michael S. Hampleman & Roman A. Basi

Basi, Basi & Associates at The Center for Financial, Legal & Tax Planning, Inc.

On December 27, 2020, late Sunday night, President Trump signed into law the $900 billion COVID-19 relief bill that was passed approximately a week before by Congress. The legislation, the Consolidated Appropriations Act of 2021, calls for direct payments to individuals and funding to other various communities and sectors that have been hit hardest directly by COVID-19.

Pac-West member John Wachman of Desert Distribution was inducted into the Fastener Hall of Fame, which recognizes professionals who have made significant and enduring contributions to the industrial fastener industry on a national or global scale.

“I am deeply honored to receive this recognition from the industry,” said Wachman. “I will continue my best efforts to improve the fastener industry and am dedicated to seeing the industry thrive.”