<P> NAM supported the EPS Service Parts Act of 2014 (H.R. 5057; 113th Congress), a bill that would exempt certain external power supplies from complying with standards set forth in a final rule published by the United States Department of Energy in February 2014 . The United States House Committee on Energy and Commerce describes the bill as a bill that "provides regulatory relief by making a simple technical correction to the 2007 Energy Independence and Security Act to exempt certain power supply (EPS) service and spare parts from federal efficiency standards ." </P> <P> The NAM's Board of Directors includes Chairman David Farr, CEO of Emerson Electric Company, President Jay Timmons, CEO of NAM; Executive Committee Member Mary Vermeer Andringa, President and CEO, Vermeer Corporation; and Chair of the Board Douglas Oberhelman, CEO, Caterpillar Inc., among others . </P> <P> NAM was founded by Thomas P. Egan, late President of the Cincinnati Chamber of Commerce and head of the J.A. Fay and Egan Co., woodworking and machinery company, not long after reading an editorial in the magazine "Dixie," out of Atlanta, Georgia, during the depression of 1894 . This editorial urged the manufacturers of the time to organize and work together to improve business conditions nationally . Under Egan's leadership, organization began, and a group was created; they called themselves the "Big 50"; he invited them, and asked them to invite others, to Cincinnati . On Jan 25, 1895, in the Oddfellows Temple, where 583 manufacturers attended, NAM was created . "The U.S. was in the midst of a deep recession and many of the nation's manufacturers saw a strong need to export their products in other countries . One of the NAM's earliest efforts was to call for the creation of the U.S. Department of Commerce". The organization's first president was Thomas Dolan of Philadelphia (not, as erroneously listed in some sources, Samuel P. Bush). </P> <P> The early history of NAM was marked by frank verbal attacks on labor . In 1903, then - president David MacLean Parry delivered a speech at its annual convention which argued that unions' goals would result in "despotism, tyranny, and slavery ." Parry advocated the establishment of a great national anti-union federation under the control of the NAM, and the NAM responded by initiating such an effort . </P>

Why was the national association of manufacturers formed
find me the text answering this question