Preco Electronics President & CEO
Fall is in the air. Headquartered in the Northwest of the United States, Preco has the opportunity to experience the four seasons and witness change on a quarterly basis. This year, change has been a central theme for our business, our product suite and the collision mitigation market itself.
Preco saw tremendous adoption of its technology throughout all sectors of the heavy-duty industry. This heightened attention led to increased industry accolades and the opportunity to help shape the evolving conversation pertaining to safety and its impact on increased efficiency and productivity of the operator and organization.
Over the past several months, Preco has seen growing interest in its products, international expansion, as well as innovation in the form of a newly announced wireless solution. These positive changes have provided opportunities to expand Preco's executive staff, highlight customer successes, gain industry distinction and create momentum within the press and heavy-duty industries.
Internally, Preco has refreshed its corporate website to better communicate Preco news, events, industry insights, new product enhancements, and new service offerings. Preco also recently launched the Preco Blog to better communicate and engage with customers, partners and the industry as a whole regarding the topics that are impacting the industry. Take a look and let us know what you think.
This newsletter is intended to provide a short snapshot of our last quarter and provide insight into the next. Just like the seasons, Preco continues to evolve and strives to create safer operators and more efficient organizations.
|In the Know|
Mitigating the Legal Risks of Safety Technologies
John Cruickshank, an attorney with Alaniz and Schraeder, recently participated on a panel with Preco Electronics at WasteExpo 2015 with his presentation entitled Mitigating the Legal Risks of Safety Technologies. His presentation was so well received, we felt the message was a ‘must share’ for all heavy-duty equipment industries.
John’s overall legal philosophy is simple and to the point: A lawsuit avoided is better than a lawsuit won. In order to make this happen a company needs to identify their legal risks and eliminate them before a potential lawsuit arises. If there is an overall companywide passion for safety-from the C-level down, you are better able to help ensure employees and the public make it home safely.
OSHA Fines for Worksite Safety Violations to Increase
A bipartisan budget bill was recently signed by President Obama raising the U.S. Occupational Safety & Health Administration’s fines for workplace violations. This will be the first increase for such fine in 25 years and is structured to bring penalties in line with the inflation increase since 1990. It also requires OSHA and state agencies to increase penalties based on inflation moving forward.
While OSHA has not shared what the increase will be, some are estimating it to be as much as an 80% increase. If that increase is implemented, severe violations could go from $70,000 to $125,000 and other serious violations from $7,000 to $12,500. The agency has until mid-2016 to determine the increase percentage.
|Q&A: Tom Loutzenheiser, Vice President of Marketing & Business Development|
Tom joined Preco in April 2015 as Vice President of Marketing & Business Development. In this role, Tom focuses on expanding partnerships with leading Original Equipment Manufacturers (OEM) and other strategic partners to enhance Preco Electronics’ growth and market leadership.
Q: Tom, what was the driving factor for joining Preco?
A: I had served on Preco’s advisory board for nearly five years, and had always been impressed with the commitment each team member had to improving safety for heavy-duty commercial vehicles. The market acceptance has been great, leading to solid growth over the past years. It’s a fantastic place to be now given today’s focus on Advanced Driver Assistance systems - leading towards semi-autonomy and full autonomy.
Q: What are Preco’s distinct advantages for OEM’s and partners?
Preco in the News
Preco has been sharing with others in the industry how its active collision mitigation technology is making an impact. Below is a sampling of where Preco is popping up in the news.
To better communicate and share information on a regular basis, Preco is proud to announce the introduction of the Preco Electronics Blog. Preco has been actively contributing to the trends and topics that mean the most to our customers.
PreView® Wireless WorkSight®
Preco's PreView Wireless WorkSight was recently honored as a finalist of the Commercialized Innovation of the Year, as part of the 2015 Idaho Innovation Awards. It is such an honor to be in the company of so many leading-edge Idaho based companies.