“Once you've cut employees as much as you can, the only thing left to do when you don't have pricing power is to become more productive, and you do that through capital spending.”
“The NAPM number was stronger-than-expected but was still under 50, which means a contraction, and there was a big jump in new orders. That was very encouraging. But that doesn't mean that we've hit a bottom, not until we get over 50.”
