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SEWN SUCCESS: Tool & Die Shop

SEWN was engaged by a western Pennsylvania tool & die shop that had lost a significant customer and in fact had an operating loss almost ½ million dollars. Initially the company had requested assistance in increasing sales and lead generation. The Clients stated goal was to increase sales by $750k over the next year, a 10% increase over prior year levels. In SEWN’s due diligence several facts came to light. The clients’ variable margin was only 16 percent and the client was already quoting 40 opportunities a week with an overall win rate of less than 10 percent. A detailed review of the income statement showed extremely high overtime as well as sub-contract costs. On first pass it appear

Is Your Company Distressed?

The Strategic Early Warning Network or SEWN chose its name because of the recognized need for early intervention to increase the likelihood of a successful turnaround. There are four stages of distress recognized in the turnaround world: Early, Middle, Late & End Stage. As the time line progresses the chance of success diminishes. In the earliest stages the signs can be nuanced. Competitive pressures, industry or supply chain restructuring or internal operational deficiencies are causing margin erosion, Sales volumes are dropping and cash-flow is at best holding its own. Perhaps the company is creeping towards tripping its loan covenants. In the middle/Late stages Cash-flow becomes both

Circular Economy - Part 1

In October 2019, the SVA hosted a visit from Nik Engineer (Executive Lead-North America (Interim)/Executive Lead-Business) of the Ellen MacArthur Foundation (EMF). This meeting resulted from outreach on the topic of circular economy efforts in Europe and how it could apply to manufacturing in the U.S. Three years after its adoption by the European Commission, the 2015 Circular Economy Plan can be considered fully implemented. Clearly Europe is leading the way toward a climate-neutral competitive circular economy, creating investments, jobs and new businesses. In fact, sectors relevant to the circular economy employed more than 4 million workers, a 6% increase compared to 2012. New business

New Federal Overtime Rules for 2020

New federal overtime rules to go in effect Jan. 1, 2020. While this change does not impact the Pennsylvania minimum wage (yet), it will allow 61,000 more workers to be eligible for overtime. The new federal overtime regulations apply to hours employees who work more than 40 hours a week and salaried employees who work more than 40 hours per week while earning less than $684 per week/$35,568/year. The current threshold for salaried employees, enacted in 2004, is annual earnings of $23,600, or $455 per week. “This final regulation ensures that employees who work overtime are fairly and fully compensated for their labor in accordance with the original intent of the Pennsylvania minimum wage act

Congrats to SOLO Labs!

Congratulations to our friends at SOLO Laboratories for once again being recognized as a Best Place to Work in PA! SEWN was thrilled to be part of the SOLO success story. Read the below note from Holly Wolf, Director of Customer Engagement: It’s a Repeat and an Honor Once again, our employees voted SOLO Labs as one of the Best Places to Work in PA. We were honored to be selected again in 2019. Serve Others, Love Others is More than a Tagline Founded in 1983 by Barry Sokol, SOLO Labs is a company that manufactures custom orthotics for the podiatry industry throughout the United States. SOLO stands for Serve Others, Love Others, a principle that guides both the business and the way they treat

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1112 S. Braddock St., Suite 300   

Swissvale, PA  15218
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