Has The Economy Tempered Your Tool Addiction?
I recently read that Stanley Black & Decker, the largest tool maker in the United States, had a great third quarter this year, more than doubling its profit. The company owns a few brands familiar to woodworkers, such as Delta, Porter-Cable, Bostitch, and DeWalt.
Analysts say the increased profits are a result of a small rebound in the housing market, with most of the profits coming from the construction and do-it-yourself division, according to the report.
So it seems builders are buying tools, but what about furniture makers? Has the economy put a damper on your own tool purchases? Are you spending money on new tools and machines, or are you holding back and using your money for materials to make furniture? Let us know.
By the way, this year I had only one “major” tool purchase: a dust collector. And now I’m saving to buy a brad nailer and a compressor, as well as a new router to put in a table.
Money was tight in my house this year, but I needed to buy this dust collector for my basement workspace. That was it for tool purchases, though.
Delta, a brand owned by Stanley Black & Decker, has introduced some great new tools this year, including their revamped Unisaw. I hear that other tool makers will be stepping up with some new stuff as well. Will you be in a buying mood?