The BI Weekly 5 is a collection of tips, news and data affecting the boating industry this week. Be sure to look for the BI Weekly 5 every week on BoatingIndustry.com.
1. Bill Yeargin on Manufacturing Day
October 7 will be Manufacturing Day and Bill Yeargin, Correct Craft president and CEO, is urging those in the industry to participate, as he shared with NMMA.
"One of the biggest issues facing U.S. companies is the upcoming shortage of workers resulting from a growing economy and retiring baby boomers. Some estimate that the U.S. will experience a worker shortage of several million people by 2025. This will be a significant problem for the boating industry.
"Manufacturers are particularly impacted by this shortfall because of the reputation manufacturing has in the minds of many. The truth is that manufacturing provides outstanding careers that pay well with good benefits in high tech workplaces."
2. New company offers college-branded life jackets
After a friend's son drowned, Dave Lee was inspired to create the Jersey Jacket, a PFD branded with colleges and universities, West Virginia Metro News reports.
“All we’re trying to do is create awareness and make people want to wear their life jackets,” Lee told the site. “It’s just bringing fun back to a device that nobody likes to wear, including myself. But we’ve found if you put the logos on there, people are excited to wear it.”
3. SBA guide to disaster recovery
With recent flooding and storms in many parts of the country, it's a reminder to be thinking about your disaster preparation plan.
The Small Business Administration offers a guide to its disaster recovery assistance programs.
4. Home purchase lending at highest level since 2007
More signs of a continuing housing recovery, as the second quarter of the year saw the highest level of mortgage lending for home purchases since 2007 per the Black Knight Financial Services Mortgage Monitor, Calculated Risk reports.
5. Summer boating deaths down slightly in Maryland
A dozen people have died in Maryland state waters, the Baltimore Sun reported, down from the pace of 2015, when the 12-month total of 21 deaths was the most in two decades.
All 12 of this year's victims and 18 of the 21 last year were not wearing life jackets, state officials said.