Some times, timing is everything.
Every investor's dream is to buy a stock when it is low and then sell when it is high. But, of course, this is much easier said than done.
This often means buying a piece of a company when it's still on the ground floor, its foundation has been shaken, or perhaps in the middle of an economic downturn. Not everyone has the fortitude to do this because, after all, the stock is probably low for a very good reason. But if you buy at the bottom and the company's fortune's change, you can consider yourself a winner.
John Holliday, president of Holliday Rock in Upland, Calif., explains in our cover story on page 20 that his company planned and started operating its new ready-mix plant in Bakersfield, Calif., “in the teeth of a recession.” Rather than focusing on the short-term, Holliday saw the project's long-term advantages. Bakersfield is one of the fastest-growing cities in California and is situated in a prime energy and agricultural area. “We felt that market was a good fit for us,” he says.
Today, the plant is a model of efficiency. Also, the market has remained stable. “Through good times and bad, they're still building,” Holliday says.
The lesson for producers is to think about the long term. When things look their bleakest may be the best time to invest.
Changes at TCP
Starting with the new year, Shelby Mitchell has become the new editor of THE CONCRETE PRODUCER. Shelby has worked on TCP in various roles since she started at Hanley Wood in 2006. She already knows many of our readers and will be a terrific leader for the magazine. You can contact her at firstname.lastname@example.org or 773-824-2496. I'll still be here but with more of a background role.
Also, Sharon Rehana, who had been managing editor of our sister magazine, CONCRETE CONSTRUCTION, has become the community manager for TCP. In this new position, Sharon will lead our social media efforts on Twitter and LinkedIn, in addition to our new Facebook page which will be introduced very soon. Don't fret, as TCP will continue its paper issues. However, these social media tools will make it easier than ever for us to reach out to you, and for you to communicate with us.