Issue link: https://iconnect007.uberflip.com/i/1456062
26 SMT007 MAGAZINE I MARCH 2022 but you want it to be sustainable. Subsidies don't lend themselves to continuation over the long haul. It's not in the taxpayer's best inter- est. We don't seem to have long-term views on things in this country anymore. We've lost the ability to think long term. Johnson: Do you see long-term thinking as something that the U.S. business culture needs to get back in touch with? Vardaman: Wall Street likes quarters. Every- body is looking for that quarterly return and you're rewarded on that. I can't tell you how many CEOs had a long-term vision which got penalized by Wall Street. e only way you can have a long-term vision is if you're private and don't have anybody to tell you what to do. Johnson: Meanwhile, there are companies that want to be competitive, grow their capabili- ties, and move forward. Where do they look for strategic direction? Vardaman: ey will have to do their own research. It takes good information to make good decisions. You must understand the com- plexities of this industry, what market you want to serve, and your strategy to serve that market. What is your expected rate of return on your investment? Barry Matties: What's the motivation for indi- viduals—or for a country—to do this? First, it must be recognized as a critical component or critical to the well-being of the nation, what- ever nation it happens to be. Vardaman: I think the public got the message when they couldn't buy a car because there weren't enough semiconductors. But then everyone concludes, "Oh, it's a semiconduc- tor, so put money in semiconductors," with- out understanding the whole supply chain. It's a level of education that's required. Matties: It's hard to know, but maybe they are being educated on supply chain as they walk through their grocery stores and see shelves empty, they try to buy other items, and there are massive delays. Vardaman: You know why there are shipping delays? Nobody on the West Coast invested in modernizing the logistics control in the ports. Look at the upgrades that were made in the port of Rotterdam or the upgrades made in some of the East Coast ports vs. the West Coast ports. Logistics and communication are key to how you get that done. Why shouldn't you have a sys- tem that allows things to move more smoothly? Matties: You're talking about a shi in culture and thinking so grand and so large, covering so many sectors. Do you expect it to happen? Vardaman: Not unless this country comes together and figures out that there's a problem greater than us. If we stick together, we're a lot more likely to solve these problems than if we start picking at each other. Electronics manu- facturing and technology, and the emphasis on education, are very important issues. Matties: If you're in manufacturing today, spe- cifically electronics, everybody understands the complexity of the supply chain. Now, OEMs may have a different view. Nevertheless, when we're trying to get base material or other components, we've all been dealing with supply issues. You must understand the complexities of this industry, what market you want to serve, and your strategy to serve that market.