> ERA Quick Connections — May 2024, Vol. 1
May 2024, Volume 1
MANUFACTURING DATA REPORTS
Manufacturing data reports from the Institute for Supply Management (ISM) are released at the beginning of every month and can be accessed at ISM. The latest report says economic activity in the manufacturing sector contracted in April after one month of expansion, following 16 consecutive months of contraction.
Yet, the electrical equipment, appliances and components sector still reported growth in April. Read the full report.
INDUSTRY NEWS
> Important update from ERA legal partner SFBBG: On April 23, 2024, the Federal Trade Commission (FTC) adopted its long-awaited final “Non-Compete Rule,” (the “final rule”) imposing a comprehensive ban on the use of new non-compete agreements with all workers, including senior executives. The final rule covers all types of businesses across nearly all economic sectors, except to employers not subject to the FTC’s jurisdiction, including certain financial institutions, common carriers and air carriers, and certain non-profit organizations.” Read more.
> The Federal Reserve held its key interest rate steady again last week and gave no signal that it plans to lower it anytime soon, following a resurgence of inflation early this year. Read more.
> This morning, Apple unveiled M4, its next-generation chip. Built with the 3 nanometer chip architecture, M4 is the first Apple chip to be built for AI from the ground up. M4 is the chip that powers the new generation iPad Pro and will soon be inside Macs. Read more.
INDUSTRY TRENDS SURVEY
The May ERA Electronics Components Industry Trends survey is now in your inbox! Check your inbox and fill out the survey today.
Please note: ERA sends this survey monthly to one contact from each ERA member firm via email. Please be on the lookout for this survey in your email inbox. The email will come from no-reply@mail.client.edgewaterresearch.com. If you have questions about who the survey contact is for your organization, or would like to change this contact, please email Edgewater Research.
Help us make this survey a valuable resource for you and the rest of our members by taking 5 minutes to complete this each month. The results are visible only to ERA members and gives us a great cross-section of what our members see on the horizon for the near and long term.
VIEW SURVEY RESULTS
ERA NEWS
> Mark your calendars! The All-Industry Kickoff Reception returns for EDS 2024, on Tuesday, May 21, 4:00–5:30 p.m. in the Lily Ballroom. This year’s kickoff reception will feature networking, photo opportunities, an open bar and delicious food. You’ll have a chance to take home the hottest electronics in our famous raffle — but you have to be there to win!
We’ve moved up the start time this year, so stop by before attending your other Tuesday evening events.
> Mark your calendars for the next ERA LIVE, taking place Wednesday, May 15, where ERA Legal Counsel and SFBBG attorneys Adam Glazer and Leonard Gambino will give an overview of the updated rep-manufacturer contract agreement that will be introduced shortly for ERA rep members!
Reps, learn the nuances of the updated rep agreement template and how to advocate for issues that are important to you. Manufacturers, learn the issues that reps are concerned about today. It is a two-way communication and negotiation!
Note: This session is open to all, but it will be most valuable to reps and manufacturers.
> ERA is proud to be counted among the many exhibitors that will attend electronica 2024, a premier international electronics industry tradeshow and conference in Munich that will bring together companies from more than 50 countries, from Nov. 12-15.
ERA’s goals when attending electronica are: to advocate for ERA’s North American members who are looking for representation and/or channel solutions in Europe; and to provide information about the North American rep model to manufacturers in EMEA who are interested in rep coverage and/or channel partners in North America.
Please plan to visit the ERA booth (booth information TBA) to say hello, charge your electronics and use ERA’s private WI-FI to remain in touch with your customers. Read more about the event at electronica.de/en/trade-fair. See you in Munich!