New Beginnings
March 12, 2010 The start of a new decade is a time for pause. A time to reflect on the events which shaped our industry, and perhaps more importantly, to share hopes and ambitions for the future.
For generations, the annual edition of Cotton International has provided a forum for the best and brightest from all corners of the cotton world to come together and share their experiences and insights. Perhaps few editions are more significant than this. “Unprecedented” has become a much overused term. Yet it still seems appropriate for the recent times in cotton.
The turmoil and dislocations of the past several years are well chronicled. Wild price swings, fueled by speculators, coupled with rapidly shifting fundamentals. The uncertainty and volatility was far more than most have experienced in their professional lives. Although cotton has many unique aspects, these times were a stark reminder that our industry is still interwoven with the fabric of general business, economic and consumer patterns.
“This decade was a real test for leaders. We had change accelerating, we had change across more fronts, and we had change that was more unpredictable and more volatile.” These reflections on the past decade from A. G. Lafley, the highly regarded chairman of Proctor & Gamble, remind us that the disruptive dynamics the past several years in cotton are part of this larger mosaic.
Industry veterans provide valuable counsel at times such as these. Those who lived through the Great Depression in the ’30s and World War in the ’40s remind us that prior generations lived and managed through far more. Little consolation, perhaps, yet valuable perspective. A vote of confidence of sorts in the years ahead.
No doubt the challenges we face are still significant. Yet as I met with industry leaders at events last year from Chicago to Nanjing and Cape Town to Liverpool there was a clear sense of renewed purpose and mission. A clear-eyed recognition of the need for continued change. A realization that it will take time and resolve. Yet a confidence that cotton will prevail.
We at Cotton International share this optimism for the future and remain dedicated to bringing the industry the best commentary and insights – from bale to bobbin – to realize this renewed promise. To carry this mission forward, I am pleased to announce the formation of our new International Ag Group, led by my colleague Jess Ennis. Jess brings a wealth of international agricultural experience and in his new role will bring our full resources from markets around the world to bear in rallying support for the cotton industry. Jess shares more of his personal views and ambitions for the future in the following pages.
“Look ahead with stoicism and optimism” Peggy Noonan the former presidential speech writer and current contributor to the Wall Street Journal wrote in her first column of the New Year, the new decade. She issued a call to repair and to rebuild. “Begin with good cheer, maintain your equilibrium, don’t lose your peace,” she suggests. Well said.
That is what we and the cotton world are about with hard earned expectations for success. All the best on this journey.
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