Thank you for believing in us!

f ceNNor BELTEVE we are already on our last issue of the year. The good news is that lif you are reading this, you have survived another year, and that is no mean feat. As many of you have told me, this has been one of the most difficult years faced ever and here we are in year four to five of the downturn. Simply keeping the lights on and the telephone ringing has been a tough task for many, and for those that have survived it has been stressful and gut wrenching at times.

When you look at the hard numbers, it is difficult and tragic to believe what this industry has had to contend with. So it would be a brave person who would predict the next 12 months for certain. I have often said to people how not so long ago in other companies we had to prepare not only one-year plans, but also three, five, and often 10. Today, in truth, I would not like to predict the next quarter.

If we have learned anything this year, it is how intertwined our entire economy is with the rest of the world. Who could predict a country like Greece, which represents only a half-percent of the world's GDP, could create such havoc intemationally? And just when you believe steps are in place to solve that crisis, up pops Italy, and tomorrow probably Spain. The economic uncertainty, fueled by continued high unemployment, says we cannot rebound until such issues are solved. An election year typically suggests a hedging of bets until the next administration is confirmed, so it is assumed that it is unlikely that2012 will be a turn-around year. Yet I believe that 2013despite the unluckiness of the number I3will actually be the start upwards.

Past experience suggests that if I am anywhere near correct, 2Ol2 will be a critical period in positioning your company to take advantage of the momentum. Trying to join the party after it has started without you will be too late. Many of our advertisers that have maintained presence and visibility say they expect to step up efforts next year. A caller this morning told me he looks at the current environment where companies are struggling as an opportunity to grow, and has undertaken a series of new initiatives that are beginning to pay off for them and will also position them well for the turn-around. It is already finding them new customers and profitable revenue. I have had companies inform me of 307o growth rates and others tell of adding staff. So there are pockets of good news. As the saying goes, "luck favors the brave." During my final tradeshow visits of 2011 ,I witnessed additional success stories that give me optimism. I heard from someone the other day: "I am fed up with being fed up." That is probably how many of us feel; we are ready to move on and up. Here's to that!

As we again come to year-end, I want to thank you, our readers and our advertisers, for your continued support. We are the only publications in our sector to publish every month. Your loyalty has allowed us to do that. In a few months, we reach 90 years old (The Merchant debuted in July 1922). Ov mission is always to support this industry. Along the way, we meet thousands of readers every year, and I am always touched to hear feedback of how you enjoy our publications. On a personal note, I enjoy many, many industry friends who are a good representation of the industry that most of us so dearly love-despite its occasional flaws and warts.

As I do every year, and do so with more determination this year, I guarantee we will support this industry and its people to our absolute maximum, offering all that we can to help you run your business more profitably and keep you abreast of changing times and tastes. When we do not, call me personally. Like all companies, we are only as good as the people surrounding us, and I am lucky to have a staffthat is the most experienced in the business.

To you, your families, and your colleagues, a Merry Christmas, Happy Holidays, and a successful. healthv New Year from us all at The Merchant.I hope to see you soon-perhaps at one of the hundreds of events listed in the 2012 Industry Calendar that can be pulled out from the center of this maeazine.

Alan Oakes, Publisher aioakes@aol.com

www.building-products.com

A publication of Cutler Publishing 4500 Campus Dr., Ste.480, Newport Beach, CA 92660

Publisher Alan 0akes ajoakes@aol.com

Publisher Emeritus David Cutler

Director of Editorial & Production David Koenig dkoenig@building-products.com

Editor Karen Debats kdebats@bu ilding-products.com

Contributing Editors

Dwight Cunan, Carla Wddemar, James 0lsen, Jay Tompt, Mike Dandridge

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Chuck Casey ccasey@building-products.com

Administration Director/Secretary Marie Oakes mfpoakes@aol.com

Girculation Manager Heather Kelly hkelly@building-products.com

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