This issue of Gear Technology, The Journal of Gear Manufacturing, marks the end of our second year of publication. As we approach our third year, it is time to review our statement of purpose. Gear Technology's primary goal was and is to be a reference source and a forum for the American Gear industry, and to advance gear technology throughout the world.
Sitting down to write my comments for this issue, one event filled my thoughts-the transformation and uninhibited euphoria that overcame Chicago, and the whole Midwest, by the Bears reaching and winning the Superbowl.
As I thought about what we might expect for 1986, the most important news affecting our industry is the tax revision bill just finished by the House Ways and Means Committee.
Three things have happened in
the last few weeks, that lead me to
believe the worst is over - not
that great times are ahead, but that
things will get better.
While on holiday in England during July, my thoughts for this page were on the proposed changes to our tax law, and how they would adversely affect America's industry. But with the President undergoing cancer surgery, Congress deadlocked on deficit reduction and the budget on the back burner, nothing new was being said or done regarding a new tax law
I recently attended a briefing, arranged by the White House, regarding the Treasury's tax simplification plan. A
Treasury Undersecretary explained that their goal was to come up with a tax code that was "fair" to everyone.
History comes around full circle. It is interesting to talk to gear manufacturers who service the defense, aerospace, automotive and computer industries and find that their sales, production and backlogs reflect excellent and, in some cases, record breaking business.