Marlin Steel President Drew Greenblatt was quoted in The Wall Street Journal recently on the state of jobs and the economy. His comments came a few days before President Obama kicked off what the White House billed as a "Middle Class Jobs and Opportunity Tour" today in Austin, Texas. Aides said he chose Austin because it's a leading hub for manufacturing and technology job growth. Various national media cast the trip as an effort to shift the focus to economic issues after the dominance of gun control much of this year.
This was Marlin's Drew Greenblatt in The Wall Street Journal in a front-page article by Sudeep Reddy headlined "Job Gains Calm Slump Worries; Investors Send Dow to Record High as Unemployment Rate Falls to Lowest Level Since December '08":
Still, many businesses remain cautious as demand proves fitful amid the sluggish expansion in the U.S. and abroad. "We're at anemic, pathetic growth right now," said Drew Greenblatt, president of Baltimore-based Marlin Steel Wire Products LLC, which makes high-end baskets and other steel products for other manufacturers. "You don't want people contemplating their navel when they should be out there hiring people."
Mr. Greenblatt said troubles in Europe are intensifying just as worries about higher health-care costs weigh on him and his customers. The company hopes to expand its $5 million in annual revenue by 20% this year, he said, but he's limiting his hiring while investing in automation. Marlin Steel has one temporary worker on board, alongside 28 regular employees, but hasn't hired a new full-time worker since November.
"We hire people when we have demand," Mr. Greenblatt said. "We have demand when there's a lot of optimism."
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