1199

BUSINESS NEWS ARCONIC ANNOUNCES MULTI-YEAR DEAL WITH TOYOTA Global technology, engineering, and advanced manufacturing leader Arconic announced a multi-year supply deal with Toyota North America. Arconic is supplying aluminum to Toyota for its all-new Lexus RX. The vehicle debuted last year and became Toyota’s first vehicle in North America to prominently feature aluminum exterior panels. “Automakers worldwide are turning to aluminum for the stronger, tougher, higher performing vehicles that consumers demand,” said Mark Vrablec, president of Arconic’s aerospace and automotive products business. “Many bestselling vehicles in America have already converted to aluminum for improved performance, including better fuel efficiency, more towing and payload capacity, and improved vehicle safety scores. This trend will continue. We are proud to expand our relationship with Toyota.” This makes Arconic the sole aluminum sheet supplier to Toyota for the Lexus RX, named by Consumer Reports as the Best Luxury SUV of 2016. The Arconic and Toyota deal draws on the strong automotive expertise andmanufacturing

capability of Arconic’s Global Rolled Products business. Arconic will supply Toyota from its plants in Davenport, Iowa, and Danville, Illinois. Arconic is a premier partner to the high- growth automotive industry with operations in Davenport, Iowa, and Alcoa, Tennessee, and breakthrough technologies like the Arconic Micromill in San Antonio, Texas. The company estimates that it will grow its automotive sheet revenue from $76 million in 2010 to $1.3 billion in 2018, and across Arconic’s full automotive portfolio, 98 percent of Arconic revenues come from products where it is number one or number two in its segment. UMASS AMHERST OLD CHAPEL TRANSFORMED INTO VIBRANT COMMUNITY CENTER Finegold Alexander Architects proudly announced the completion and official re-opening of the University of Massachusetts Amherst’s Old Chapel. The iconic Old Chapel first opened in 1885 and is on the National Register of Historic Places. The building closed in 1999 due to code and accessibility requirements. Today, the Old Chapel has emerged following a two-year, $21 million renovation as a vibrant community

space for student gatherings, exhibits, and events. The project is targeted for LEED Gold certification. “The historic preservation/renovation of the UMass Amherst Old Chapel allows the iconic building to remain central to the beauty of the campus while serving several new uses,” said Regan Shields Ives, principal, Finegold Alexander Architects. “We are pleased to have been part of this landmark project.” “Chancellor Kumble Subbaswamy, during his first visit to UMass Amherst, envisioned a restored Old Chapel as an inspiring and dynamic space for all who live, work, and visit at our flagship campus,” said Ed Blaguszewski, executive director, strategic communications, UMass Amherst. “Finegold Alexander and the team have done an extraordinary job in restoring this jewel.” The first floor provides a flexible layout for social gatherings, study, and events. The top floor Great Hall provides a large open space for lectures, seminars, performances, banquets, weddings, and private events. The restoration added a contemporary glass-entry addition, and an interactive display wall.

BILL MURPHEY, from page 9

a piece of advice I received decades ago: “You have to make them hate you before they’ll respect you.” I never followed that then, and I surely don’t believe it to be true today. I did my own research and learned there are better ways of moti- vating people. Unfortunately, there are those who still believe that’s the best way to run an organization, as evi- denced through the draconian policies enforced in some of our industry firms. ❚ ❚ Learning. The one-size-fits-all approach to education and training used to be king. If you didn’t understand the mate- rial, that was your problem and not the educator’s fault. The reality is we all learn in different ways. Some are visual learn- ers, some are auditory, while others are experiential learners. Design your firm’s professional development program with that in mind. Seek a variety of learning methods. ❚ ❚ Generational differences are real. Early leadership theory essentially ignored differences in generational upbringing and assumed anything can be overcome with “good management.” Studies in recent years have highlighted adaptability as a key attribute to being a successful leader. The leaders who have evolved to understand that everyone is different, with differ- ent expectations, life experiences, and learning preferences, will stand a better chance at succeeding. Only through continuous learning can we continue to grow intellectually and personally, and keep our memories updated. Accept that what you thought you once knew to be true may have been revised or made obsolete. Do you think you know everything there is to know about the tensile strength of all composite materials? Perhaps there’s some new research you’re not yet aware of. Keep learning. BILL MURPHEY is Zweig Group’s director of education. Contact him at bmurphey@zweiggroup.com.

Remember that famous quote by Bill Gates, that “nobody would ever need more than 640K of computer memory?” I remember hearing that years ago. The problem is, he never actually made that statement; something I just learned while writing this article, despite my repeating it all these years. “Only through continuous learning can we continue to grow intellectually and personally, and keep our memories updated. Accept that what you thought you once knew to be true may have been revised or made obsolete.” There are countless examples of what some people still assume to be correct. Here are just a few that stand out to me. ❚ ❚ Marketing. For decades – I’d even go as far as to say centu- ries – marketers pushed their products and services to the masses without understanding who was paying attention. It worked to some extent, but it wasn’t the most effective use of a marketing budget. The most effective marketing messages are targeted to specific audiences. The difference between these two marketing tactics is found in the return on invest- ment, but only those that have kept up with societal and cul- tural changes would understand the difference. ❚ ❚ Leadership. Another common belief was that to be effective as a leader, one had to rule with an iron fist. I’ll never forget

THE ZWEIG LETTER May 8, 2017, ISSUE 1199

Made with FlippingBook Annual report