Elections?

Every year, your editor must write an editorial in early November for the December issue. Only in election years is this significant, as you will know the voting results by the time this book is published and sent out. But, as I write today, I have no clue. So, I proceed with only a little caution. I am not alone here on election day as the Fed’s latest Beige Book report says many companies are waiting until after the election to start construction projects. The Federal Reserve Bank in New York also reports that activity has declined at a moderate rate.

But here is a thought to hold onto no matter what the election brings: Whatever the results, we will still be Americans, and we have one of the strongest economies in the world. Recently, construction backlogs increased when the Fed lowered interest rates by a half a point (and promised more in the future). Many predict interest rates at 2.80% by the end of 2025. According to Associated Builders and Contractors, our industry faces many headwinds (labor shortages, construction costs rising, shrinking profit margins). But, compared to the rest of the world, the U.S. construction sector shows great resilience. China, Germany, the U.K., South Korea and New Zealand are all seeing slumps in construction and increasing pessimistic views.

With no insight into the election that seems so close, I asked my financial advisor, “How do elections affect the stock market (and the economy at large)?” The answer: “Not much at all.” Businesses are rational, and the market is made up of businesses. Being a part of the economy is more important than who is in the White House. While the election may be important for other reasons, who ultimately wins probably won’t matter as much to our economy.

Every four years, we also have an amazing event in our own industry, the United Convention & Exposition, a joint effort of four associations in the North American industry: the National Association of Elevator Contractors, Canadian Elevator Contractors Association, International Association of Elevator Consultants and Elevator U. This year, according to Kaija Wilkinson, United was Like a Tiger, with more than 200 exhibitors and almost 4,000 visitors — the largest and best ever. ELEVATOR WORLD took this opportunity to introduce the winners of our 2024 Ellies Awards. The seventh annual competition saw more than 120 companies competing and 60,000 voters. 

And speaking of events, our Angie C. Baldwin traveled to Dubai for A Warm Welcome. The Elevator Show, or TES, was a great success with more than 100 exhibitors and visitors from 72 countries.

Our Focus this month is on Escalators and Moving Walks, and we have five excellent entries on the subject. 

Common Escalator Configurations and Designs by Jeffery Massey. The author discusses the various considerations for using a multitude of designs to fit specific needs.

New Blueprint for Urban Mobility? by Wilkinson. A new American startup, Beltways, aims to revolutionize the moving walk.

Enhancing the Sydney Metro City Line. TK Elevator installed 190 new units as a key part of this transformative Australian project.

Escalator Brake Failure Investigation by Anthony Boom. This is a fascinating account of an expert looking at what did and did not cause an escalator overspeed incident.

Fujitec Modernizes Its Longest Escalator in Japan. At an international exhibition hall, a six-story escalator is modernized by the original manufacturer.

For those seeking continuing-education credits, we have Hydraulic Elevator Systems — Reducing Failures by Landon Smallwood. These are just a few of the gems we offer you this month. We hope you enjoy the issue, and I’m always glad to hear from you at ricia@elevatorworld.com.