Open any periodical or turn on the news and you’ll see and hear about the global recession. In the US, millions of jobs have been lost, the banking system is in shambles, credit is almost non-existent and people are worried. I just returned from London, where I heard the same news: a banking bailout, 2 million unemployed and shops closing as people curtail spending. In Asia, manufacturing has slowed as global consumers curtail buying. Business is off everywhere. Is it the symptom of a global economy? Are markets so intertwined that there is a cascading effect? It certainly seems so.
Despite the grim news, I see a couple of reasons for economic optimism and for Satcom optimism in particular:
1) People with cash can make strategic investments at undervalued prices.
While in London, I was speaking with a fellow from Ireland who tells me that rooms at one of my favorite hotels are on sale. Couple that with the lower value of the Euro and I could have a very inexpensive mid-autumn break with my wife. Here in the US, many stocks are bargain-priced with strong upside potential. The real estate market has taken a drubbing which means people with cash can pick up nice homes at fire-sale prices. Given the upside potential, these investments could double in a short period of time. The bottom line is that there are opportunities out there that will drive us out of this recession, given enough new investment and a bit of time, which highlights my second point and the primary focus of this discussion:
2) Satcom will continue to play an increasing role in business growth.
The complexity of the business world today necessitates a great deal of connectivity via Satcom. Here are some examples:
· Soldiers in-theatre must be connected to command and to family
· Financial institutions transmit sensitive data over secured lines
· Automated reporting, monitoring systems and alarming from facilities in remote locations
· Satellite-based asset tracking – knowing the locations of your vehicles such as bulldozers, trucks or cargo containers
These examples of Satcom driven systems create connections that landline and cellular systems cannot support. These systems will enable business success in this recessionary environment providing more effective solutions at lower cost. Satcom brings communications to places where there is no other option.
As our world becomes more complex and interconnected, Satcom continues to play a vibrant role in connecting seeming disparate groups to make connections previously not possible.
All business downturns create massive opportunity for innovation. Satcom will be a reliable and integral part of these innovations. Here’s to a superb 2009! Please or call me on 800-826-6152 with your thoughts.