David Caltrider is president of The Nelson Company, a pallet manufacturer and distributor headquartered in Baltimore, Md. with eight other locations throughout the country.
Pallet Enterprise: What is the hardest challenge your company faces right now?
Caltrider: It would be the inflating price of lumber and the shortage thereof. Apparently the Chinese have bought a lot of pine recently and it’s really put a stranglehold on the supply of that. Prices are going up and deliveries are hard to get.
Pallet Enterprise: What is the best piece of business advice that you have ever received?
Caltrider: It’s very simple, very short. My grandfather 40 years ago told me, “You can make money on anything if you buy it at the right price.”
Pallet Enterprise: What is the best part of working in this industry?
Caltrider: Since we’re pretty integral to the supply chain, we get to see so many different forms of manufacturing. I think it’s very interesting to see how different industries do what they do. From someone making a spool of thread to building cars to chemicals – it’s always very interesting to see how different industries run. And another thing that’s enjoyable is that nothing stays the same… It’s not so much of a grind. Sometimes it’s a pretty big challenge, but it’s always interesting.
Pallet Enterprise: If you could change any business decision that you have made in the past, what would you do differently and why?
Caltrider: I invested in a bar in Long Island, N.Y. back in 1994, and it almost cost me everything I had. I had one in Manhattan that was doing pretty well, and I started to branch out and got involved with some guys who didn’t know what they were doing. I let my enthusiasm get in the way of making a good business decision so I learned a lot from that.
