event recap

By Glenn Hansen

I wasn ’ t sure what to expect at the OPEI Annual Meeting in Asheville , N . C . on June 20-22 , but I was eager to meet a lot of people . The three-day gathering , my first one and the group ’ s 70th annual , brought together more than 100 of the trade association ’ s members . Attendees represented some of the best-known brands in the industry , including John Deere , Toro , Rotary , Stihl , Kress , and Kawasaki Motors , to name a few , along with brands whose work is more B2B focused , such as Traqline , Anderson Power Products , Greenzie , Freudenberg-NOK and more .

Held at the historic Omni Grove Park Inn in Asheville , the event included a mix of business meetings , speaker sessions , and recreational time for connections and networking . I was eager to hear a couple of the event ’ s keynote speakers , including economist Alan Beaulieu , and Pulitzer Prize-winning presidential historian Jon Meacham .

OPEI president Kris Kiser ( left ) with presidential historian and author John Meacham .

The Omni Grove Park Inn is a 110-yearold masterpiece of style and history in the hills above Asheville , N . C .

Beaulieu ’ s Economics Forecast

He was the first non-OPEI speaker of this meeting , and I was eager to hear economist Beaulieu ’ s forecast . With questions about the economy on top of every business leader ’ s to-answer list , we were all ready to listen and take notes , or at least pics of presentation screens .

In short , Beaulieu warned the group , “ we ’ re heading into turbulent waters .” He said to expect a recession , though a mild one , that will begin in 2023 and could run through much of 2024 . This will impact many of the world ’ s economies , with some industry markets feeling more impact than others . The predicted recession “ will be more like that of 2001 ” than the 2008-09 recession .

His bigger warning ? A global depression in 2030 , which “ could start in China and spread from there .” Beaulieu blames the Fed – the U . S . Federal Reserve System – for the predicted recession , and “ if they continue to raise interest rates the recession will be worse . They need to say they will stop rate hikes .”

16 OPE Business July 2023 www . OPEBusiness . com