ILMA Compoundings November 2016 - 8

BOARD BRIEF

Competing in the
Current Economy
Catharine Golden

T

he lubricant and metalworking fluids industry plays a
critical role in keeping the U.S. economy moving, but we
are operating in an increasingly difficult environment.
Government policies are changing the way we work, shaping
everything from the amount of money we invest in regulatory
compliance to the wages we pay our employees.
The cost of complying with all of the government regulations
we face both domestically and internationally has grown
significantly. Those costs are a challenge for any business,
but they are especially difficult for small operators. I have
had several of my industry colleagues tell me that they are
spending more on regulatory compliance consultants than on
increasing production capacity or expanding their workforce.
It has been more than one year since manufacturers were
required to adopt the Globally Harmonized System of
Classification and Labeling of Chemicals (GHS) standard.

non-exempt associates will have a huge impact on ILMA
members, and many ILMA member companies will have to
retain outside consultants to help them comply with the new
labor rules coming down the pike. This increases costs in areas
that have otherwise maintained a relatively consistent pattern
up until now, taking away from spending on growth in our
manufacturing facilities and workforces.*
Additionally, our industry is often working to prepare for the
future when surrounded by uncertainty. The Toxic Substances
Control Act (TSCA) has shown us what is likely the new normal
of slow movement on the part of the Environmental Protection
Agency (EPA) as it draws out the chemical review process. As
part of TSCA, EPA has temporarily halted production of more
than 300 new chemicals that are awaiting a determination as to
whether they can be put into active commerce by being added
to the TSCA inventory. ILMA members should expect longer
wait times before new chemicals will be approved to enter U.S.
commerce.*
Increased regulations and an uncertain operating
environment can have long-term consequences
on our operations. That is why we must
continue to join together to protect
the future of our industry.

Complying with this new regulation has been an expensive
and time-consuming process. We have had to purchase new
software and printing equipment and allocate laboratory
resources to conduct additional testing of products. These
test results have forced some ILMA members to reformulate
their offerings.
The industry is also working to comply with new minimum
wage standards, which take effect in December. The final
rule broadly expands overtime pay eligibility to employees
making less than $47,476 annually. The increase in wages for

Vol. 66 No. 11 * 8 * November 2016 Compoundings



ILMA Compoundings November 2016

Table of Contents for the Digital Edition of ILMA Compoundings November 2016

From the CEO: Takeaways from the ILMA 2016 Annual Meeting
Board Brief: Competing in the Current Economy
Voices & Views: Warning: Potential Design and Print Delays in 2017
Notes from ELGI: Make Sure ELGI Events Are on Your Calendar
Annual Meeting Highlights in Photos
The Argus Analysis: U.S. Base Oil Market Balanced Despite Weaker Demand
Family Business: In Praise of Peer Groups
Rules & Regs: Prop 65 Update: OEHHA Revises 'Clear and Reasonable' Warnings
Power Play: IRS Releases New Draft Affordable Care Act Instructions and Forms
Legal Ease: Independent Contractors: The Crackdown Continues
The White Paper: Promoting Safety During the Holidays
The Heart of ILMA: Member News
ILMA Attends Afton University
Lanxess Aquires Chemtura
Industry News: Ford Position on API CK-4 and FA-4
Advertising Index
ILMA Compoundings November 2016 - 1
ILMA Compoundings November 2016 - 2
ILMA Compoundings November 2016 - 3
ILMA Compoundings November 2016 - 4
ILMA Compoundings November 2016 - From the CEO: Takeaways from the ILMA 2016 Annual Meeting
ILMA Compoundings November 2016 - 6
ILMA Compoundings November 2016 - 7
ILMA Compoundings November 2016 - Board Brief: Competing in the Current Economy
ILMA Compoundings November 2016 - 9
ILMA Compoundings November 2016 - 10
ILMA Compoundings November 2016 - Voices & Views: Warning: Potential Design and Print Delays in 2017
ILMA Compoundings November 2016 - 12
ILMA Compoundings November 2016 - Notes from ELGI: Make Sure ELGI Events Are on Your Calendar
ILMA Compoundings November 2016 - Annual Meeting Highlights in Photos
ILMA Compoundings November 2016 - 15
ILMA Compoundings November 2016 - 16
ILMA Compoundings November 2016 - The Argus Analysis: U.S. Base Oil Market Balanced Despite Weaker Demand
ILMA Compoundings November 2016 - 18
ILMA Compoundings November 2016 - 19
ILMA Compoundings November 2016 - Family Business: In Praise of Peer Groups
ILMA Compoundings November 2016 - 21
ILMA Compoundings November 2016 - 22
ILMA Compoundings November 2016 - Rules & Regs: Prop 65 Update: OEHHA Revises 'Clear and Reasonable' Warnings
ILMA Compoundings November 2016 - 24
ILMA Compoundings November 2016 - Power Play: IRS Releases New Draft Affordable Care Act Instructions and Forms
ILMA Compoundings November 2016 - 26
ILMA Compoundings November 2016 - Legal Ease: Independent Contractors: The Crackdown Continues
ILMA Compoundings November 2016 - 28
ILMA Compoundings November 2016 - The White Paper: Promoting Safety During the Holidays
ILMA Compoundings November 2016 - 30
ILMA Compoundings November 2016 - ILMA Attends Afton University
ILMA Compoundings November 2016 - Lanxess Aquires Chemtura
ILMA Compoundings November 2016 - Industry News: Ford Position on API CK-4 and FA-4
ILMA Compoundings November 2016 - Advertising Index
ILMA Compoundings November 2016 - 35
ILMA Compoundings November 2016 - 36
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