In One Corner of the Economy, A Revolution is Taking Place
As the U.S. economy struggles to catch its breath, there is a corner of the economy that is performing better than ever before — the industrials.
In sectors of the industrial economy, especially those directly affected by growing global demand, orders cannot be processed fast enough, hiring is rampant, products and services are being cranked out in record amounts and stocks are responding.
Over the next week we’ll take a closer at some of the businesses directly affected by this phenomenon, including mining and machinery. The CEOs of Joy Global and Bucyrus tell us why they can’t build their machines fast enough, as the race is on to unearth precious metals and minerals.
In the aviation sector, we'll talk with the CEOs from Goodrich and Honeywell , which are in “boom times,” with technological innovation and orders piling up for years to come.
And whether it’s nuclear, wind or solar power, alternative power and energy companies NRG and SoCal Edison say there is massive growth in their futures, including NRG’s South Texas nuclear project expected to come online in 2014.
We'll also talk with oil and gas drilling CEOs from Pride International and Transocean — both for the first time on CNBC. Transocean’s Robert Long says these are the best times he’s seen in his 33-year career.
We'll wrap up this special series with a look at water, that crucial element we can’t live without. By all accounts it’s getting harder and harder to find. The CEO of Veolia and President of ITT Fluid Technology explain how their capitalizing on the rapidly expanding global need for H2O.
Joy Global CEO Michael Sutherlin talks about the company's growing global business.
Bucyrus CEO Tim Sullivan talks about some of the global phenomena that are driving the industrial up-cycle that is helping his company thrive.
BMO Capital Markets Analyst Charles Brady talks about China's impact on global mining infrastructure, and other countries that will drive further demand for heavy mining equipment.