Final Thoughts

Final Thoughts
Written by John Packard
April 24, 2019
I thought I would depart from my usual routine and talk about something a little different in my final thoughts this evening. Time, and time management, have always been big issues in my life. It seemed natural for me to work 80-hour weeks and to think nothing of it. It brought me success in my career and ruined my marriage… So, I have been spending some time thinking of about what is the proper approach to work and time management.
I stumbled across an article that went back and looked at time management from an ancient philosopher’s perspective. The article title is: How to Be Productive, According to Ancient Philosophy (What Socrates Plato, and Confucius Understood About Time). I have linked to the article if you want to read it in its entirety. I am only going to summarize it for you.
The article cites seven productivity lessons:
- Don’t Try To Do More: Socrates said, “Beware the barrenness of a busy life.”
- Complete 3-4 Important Tasks Each Day: Plato said, “Better a little which is well done, than a great deal imperfectly.”
- Enjoy Doing The Work: Aristotle said, “Pleasure in the job puts perfection in the work.”
- Eliminate Distractions: Marcus Aurelius said, “If you seek tranquility, do less. Or (more accurately) do what’s essential. Do less, better. Because most of what we do or say is not essential. If you can eliminate it, you’ll have more tranquility.”
- Keep Your Ego in Check: Plutarch said, “Neither blame or praise yourself.”
- Keep Moving Forward: Confucius said, “It does not matter how slowly you go as long as you don’t stop.”
- Rely on a System: Lao Tzu said, “Great acts are made up of small deeds.”
A note to those thinking of attending the 2019 SMU Steel Summit Conference at the end of August. Our room blocks are sold out at the Atlanta Airport Marriott Gateway Hotel, we have only a few rooms left at the Renaissance Gateway Hotel and we have about 90 rooms left at the SpringHill Suites Gateway Hotel. There are still plenty of rooms at the Atlanta Airport Marriott Hotel, which is located about one mile away from the convention center.
We are also close to selling out our May 14-15 Steel 101 workshop, which will be held in Davenport, Iowa, and will include a tour of the SSAB steel mill. If you are interested in attending, please go to www.SteelMarketUpdate.com/Events/Steel101
I am speaking to the Association of Specialty Cold Rolled Steel Producers at Reynolds Plantation in Georgia on Friday morning. I will be back in my office on Monday. Next trip will be to Chicago where I will be speaking to the Bank of America Merrill Lynch on the 8th and then the following day I will be at the Metals Industry Boy Scout Dinner on the 9th.
As always, your business is truly appreciated by all of us here at Steel Market Update.
John Packard, President & CEO

John Packard
Read more from John PackardLatest in Final Thoughts

Final Thoughts
Can technology help with pig iron and DRI/HBI tariffs?

Final Thoughts
Tariff-related noise aside, there is one basic factor keeping buyers on the sidelines. Despite recent declines, HR prices remain at historically high levels. And there is no obvious support to keep them there.

Final Thoughts
United Airlines raised eyebrows earlier this month when it provided two forecasts for 2025 – one assuming a relatively stable economy and another assuming a recession. The reason? Uncertainty around the impact of President Trump’s policy shocks on the broader economy. And it sometimes feels like we’re seeing a battle between those two narratives (stable vs recession) play out within in the pages of this newsletter.

Final Thoughts
Despite some scary headlines lately (especially about Trump potentially firing Fed Chair Jerome Powell) this is not October 2008 (financial crisis) or March 2020 (onset of the pandemic). But it sure seems like we’ve taken a relatively strong economy and poured a thick sauce of uncertainty over it.

Final Thoughts
I put some of our survey data through ChatGpt, with interesting results.