Pool News
Inflation May Affect Growth This Year in the Pool Industry
Inflation jumped 7.5% year over year in the latest report released by the Labor Department on Thursday. Consumers saw the highest jump in prices since 1982 according to analysts. If you’re in the pool industry though you hardly needed to wait for the report to tell you what you’ve already known for some time; prices are going up.
Experts in the pool industry have already felt the results of inflation in the form of rising costs across the board on manufacturing, raw materials, and salaries. The jump in inflation numbers comes as no surprise to those who’ve seen an increase in demand for goods and services related to pools over the last two years.
Pool Industry Riding High Last Two Years
The gains have led to record-breaking growth years for companies as consumers were ready to pay more for products. In the pool industry, most major manufacturers have reported sharp upticks in revenue and growth; defying pundits who’ve been predicting a reversal of fortune is coming. One startling fact has analysts concerned that we may have finally hit that tipping point. While wages have risen at the fastest pace in twenty years, they still have not outpaced the rate of inflation.
During year one of the Covid-19 pandemic, the federal government provided financial assistance to individuals and businesses in the form of stimulus payments, increased unemployment benefits, and enacted the Paycheck Protection Program under the CARES Act.
These unprecedented efforts by the government likely spared millions from financial ruin, but the influx of all that cash has undeniably caused inflation rates to skyrocket.
Will Inflation Impact the ’22 Pool Season?
We reached out to folks on social media to get their take on what is going on and how they perceive it will impact their business.
“I’m already tightening the belt and doing what I can to do less for more money,” said Jonathan Evans of Sequoyah Pools, “we weathered the last recession well. We’re not a big company and aren’t posting record profits because we don’t gouge people.”
Pool contractor, Joe Lloyd has concerns about how inflation will impact the upcoming pool season this summer, “Definitely worried about this upcoming season price-wise,” said Lloyd, “None of us can afford to keep costs down for customers by eating them ourselves. We have to pass them along to them.”
“I look at my phone calls, and it is a dramatic difference from the last 2 years. There is definitely a decline in interest about to where it was,” said Brian Conners of River City Pool & Spa in Hixson, TN.
“It will absolutely affect me. Yeah I see the cost of goods going up, but the cost of any type of building supplies have gone up dramatically,” said Tampa pool professional – Jacob Schroth, “not only are the builders and remodelers dealing with the price increases there is a big inventory issue on all goods. I find myself going to 3 stores sometimes to get what I need.”
How Inflation Affects The Bottom Line for Pool Companies
When inflation causes higher prices, the demand for credit increases, raising interest rates. While this is great for lenders, the reverse is true for consumers; particularly those of pool-related products.
Higher interest rates eventually will raise the cost for a wide spectrum of borrowing, from mortgages and credit cards to vehicle and business loans. Traditionally when this happens, we’ve seen less consumer confidence and a decrease in spending. Analysts fear that the Fed’s choice to gradually tighten credit terms could also lead to another recession.
Higher Prices May Cool Consumers Heels
This jibes with what Ryan Johnson, Owner of Check It Out Pools in Sparks, NV thinks might occur. His concern is that rising interest rates will affect new home buyers who may have been considering a pool. “It will put off buyers in the market that are so close to homeownership that they are barely close to qualifying for something,” said Johnson, “a $400 increase in their house payment will hurt a lot of middle-class families to the point it’s not worth it. They definitely will think twice about installing a pool, getting service, or upgrading their pool or backyards.”
While the last two years, consumer confidence seems to have been at an all-time high for reinvesting in the backyard, many have serious reservations we will see a repeat this year in terms of demand. The current inflation outlook seems to be less optimistic that consumer interest will reach the levels seen in the previous two years and that the time for belt-tightening may finally have arrived.
Stock prices were down after the inflation report was released with the S&P now -5% for 2022 so far and all sector indexes reporting a decline. The Nasdaq was also down and is so far -11% for 2022 and poised for the worst start to the year since the 2008 financial crisis.
Pool News
French Diver Makes Splash After Flop At Opening of Olympic Pool
French Olympic diver, Alexis Jandard, created a memorable moment at the grand opening of Paris’s new Olympic pool, though not quite in the manner he had envisioned.
A startling video captured during the inauguration of the state-of-the-art Paris Aquatics Center on Thursday showcased the 26-year-old Olympian’s unfortunate landing on his right foot while gearing up to dive alongside two fellow athletes. Adorned in a Speedo reflecting the hues of the French flag, Jandard’s discomforting descent saw him landing on his back, ricocheting off the nearly 10-foot-high dive board, and somersaulting into the pool in a rather ungraceful manner.
The incident unfolded in front of a sizable crowd of onlookers, including French President Emmanuel Macron and various dignitaries. Jandard later displayed his scraped back on his Instagram account, maintaining a light-hearted approach to his embarrassing mishap by quipping, “For your information, my back is fine, but my ego…”
Sharing a photo of his reddened back, courtesy of the encounter with the diving board, on Instagram Stories, Jandard assured followers of his well-being. Speaking to RMC Sport, he recounted the unexpected turn of events, stating, “I’m fine. I didn’t hurt myself; unfortunately, these things happen. It happened at a time when I wasn’t expecting it at all.”
Reflecting on the incident, Jandard humorously noted, “I’ve broken boards before, but the board had never broken me before. Now it has.” Despite the hiccup, he maintained an optimistic outlook, remarking, “I would have preferred this ceremony to have gone well from A to Z. There was that little hitch. If it made people smile a little, so much the better.”
Explaining the mishap, Jandard clarified that his leg gave way upon landing but denied any slippage, emphasizing, “It’s a non-slip [board], and what’s more, the board was new, beautiful, and I think there’s still [some of] my back on the board there.”
With a silver and bronze under his belt at the 2022 and 2023 World Aquatics Championships, respectively, Jandard took the incident in stride, admitting, “It’s a shame, but it’s funny. When you take a step back, it’s funny.”
Looking ahead to the 2024 Paris Games this summer, where he is set to compete, Jandard acknowledged the inevitability of such occurrences in his sport, jesting, “These things happen,” while playfully lamenting, “It had to happen in front of the president and the whole of France. I think we chose the right moment.”
Despite being inundated with supportive messages and playful jabs, Jandard maintained a good-natured stance, urging his followers on Instagram, “Enjoy yourselves, make fun of me. I seriously deserve it!”
Pool News
Earthquake in Taiwan Causes Waterfall From Rooftop Pool
A massive earthquake in Taiwan transforms a rooftop pool into a waterfall. View viral footage.
In a harrowing turn of events, Taiwan was struck by a powerful 7.4 magnitude earthquake, leaving devastation in its wake. The quake, the strongest to hit the island in 25 years, shook the east coast of Taiwan, particularly affecting the city of Hualien and its surrounding areas. With a depth of 34.8 kilometers, the epicenter of the earthquake was located 18 kilometers south of Hualien, according to the US Geological Survey.
As rescue efforts are underway to free those trapped under rubble and debris, the toll of the disaster continues to rise. At least nine individuals have lost their lives, while over 900 others have sustained injuries. The aftermath of the earthquake has left over 100 buildings damaged, with reports of landslides and collapsed structures adding to the chaos.
The force of the quake was so immense that it caused a surreal sight—a rooftop swimming pool overflowing and cascading down the side of a building, creating an impromptu waterfall. Footage captured during the earthquake also shows the sheer force as a man inside a pool struggles to maintain balance, the water swaying violently from side to side.
The region of Hualien County, with a population of approximately 300,000, faces immense challenges in assessing the full extent of the damage. Many inhabitants reside in remote coastal or mountain communities, making it difficult for rescue teams to reach them promptly. The precarious situation is exacerbated by the expectation of aftershocks, with 29 aftershocks greater than a magnitude of 4.0 already recorded near the epicenter.
Compounding the crisis are reports of miners trapped in two mines in Hualien, adding urgency to the rescue operations. Furthermore, over 91,000 households are grappling with power cuts, amplifying the difficulties faced by residents in the aftermath of the disaster.
Despite the widespread destruction, medical facilities in Taiwan’s capital, Taipei City, are functioning, albeit damaged. The Municipal Government has confirmed that hospitals are operating normally, providing critical care to the injured.
The international community has responded swiftly to the catastrophe, with the Biden administration monitoring the situation closely and expressing readiness to offer assistance. In the face of adversity, Taiwan is rallying its resources and resilience, demonstrating solidarity and resolve in confronting this natural disaster.
As the dust settles and the extent of the damage becomes clearer, questions arise about the effectiveness of early warning detection systems in mitigating the impact of natural disasters. Despite Taiwan’s investment in advanced seismic technology, including early warning systems designed to provide crucial seconds of alert before an earthquake strikes, many residents were caught off guard by the sudden and violent tremors. Reports indicate that the early warning detection system, while operational, did not reach a significant portion of the population in time to take preventive action
Pool News
Patent Pending Apple Watch SOS Feature Could Prevent Drownings
A forthcoming feature potentially destined for the Apple Watch, as detailed in a recent patent application, could serve as a lifesaver for swimmers at risk of drowning.
Outlined in the patent is a capability for the Watch to identify “irregular behavior” and automatically trigger a distress call for assistance.
Apple underscores the alarming statistics surrounding drowning, particularly its prevalence among children, as a leading cause of accidental fatalities.
In the United States alone, drowning claims the lives of over 3,500 individuals annually, ranking as the fifth most common form of accidental death. Tragically, a significant portion of these victims are children.
Emphasizing the critical importance of swift intervention during water emergencies, Apple highlights the dire consequences of prolonged submersion without resuscitation, which can result in brain damage and ultimately, drowning.
A Growing Need For Cost-Effective Wearable Solutions
While acknowledging existing underwater camera systems in some swimming pools aimed at detecting distressed swimmers and alerting lifeguards, Apple notes their costliness and unreliability.
Consequently, there’s a pressing need for a simpler, more cost-effective drowning prevention solution suitable for all types of water bodies, including public and private pools, as well as natural settings like lakes and ponds where installing underwater cameras is impractical.
The patent proposes leveraging wearable devices such as the Apple Watch for broader applicability, increased reliability, and the ability to detect various types of emergencies.
Alerting When Swimmers Are In Distress
For instance, if the Watch detects a wearer who is not proficient in swimming entering deeper water, it can promptly dispatch an alert instead of waiting for signs of distress.
These alerts can be transmitted to nearby devices, including those of friends and family, and seamlessly integrate with existing drowning detection and alarm systems to ensure lifeguards are promptly notified.
Apple Watches already boast capabilities to detect and respond to falls, vehicle accidents, and cardiac irregularities. Heartwarming testimonials featured in Apple’s “Dear Apple” video series show individuals whose lives were saved by these functionalities.
As with many patents from Apple, it’s important to note that not all concepts may materialize into actual products. Nonetheless, this innovation stands as a promising addition for potential integration into future watchOS updates.
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