Kickstart: The future is either going to be fine or a looming disaster

How many times this year have you thought to yourself, What's going to happen next? I've found myself asking that question related to the coronavirus, deaths, shutdowns, cancellations, civil unrest, politics ... even sports. (The University of Michigan is really going to play football even when students have been ordered to quarantine in place because of rising COVID-19 cases?)

So I shouldn't be surprised to see that even some experts aren't united on predicting how business will fare in the coming months.

Just look at two stories from this week's print issue of Plastics News. On the one hand, you've got consultant Laurie Harbour and her company, Harbour Results Inc., saying they expect 30 percent of North American manufacturers to close in the next 18 months, with almost half of those being tool and die shops.

That's in part due to automakers slowing orders.

But on the other hand, as PN Economics Editor Bill Wood notes, the number of bankruptcies is currently lower than the historic trend. And the Small Business Optimism Index actually climbed 3.8 points in September. Bill is forecasting a 5 percent climb in U.S. GDP in 2021.

As for me? I have no idea what is going to happen next.

It's a good time to be a recognizable brand name in consumer products.

Procter & Gamble Co. recently reported sales for its most recent fiscal quarter were up 9 percent, while net earnings were up 19 percent.

Why? Because consumers stuck at home were doing more cooking, more laundry and more projects around the house, and they were spending more on their favorite brands, rather than switching to lower-cost alternatives.

"There seems to be continued interest in brands I know and trust to do the job for me and my family in a heightened time of need," Chief Financial Officer Jon Moeller said. "There are large parts of many consumers' budgets that aren't being spent — the money they would typically spend on entertainment, travel, meals out at restaurants, apparel."

Formica Corp. also has some strong name recognition. Referring to a "formica countertop," after all, is not unusual. But then name recognition isn't always a good thing.

Back in 2015, Mary Beth Quirk, writing for Consumer Reports' Consumerist website, listed Formica as among the trademark names most at risk of being "genericized," similar to products such as aspirin or escalator.

Acrylic countertops made by Formica have been familiar in school, office and medical settings for a long time, but would consumers brag about their Formica countertops in 2020?

So the name Formica may be fighting a two-way battle in terms of familiarity. On Oct. 21, the corporation announced a new name for its Formica Solid Surfacing acrylic line. It will now be branded under the name Everform Solid Surface. The corporation will retain the name Formica. The Everform name is being introduced with new designs as well.

Will Everform become as well known as Formica? I guess that's hard to predict, too.