| October 26, 2007 | News for the wholesale distribution industry |
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| News and Trends |  |  |
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- Hagemeyer rejects Rexel's offer, agrees to meet
Hagemeyer has rejected Rexel SA's takeover bid of $4.3 billion in cash; the electrical distributor also rejected an earlier $3.5 billion bid from Sonepar. There isn't likely going to be a bidding war, however, as Rexel has cut a deal with Sonepar to divide Hagemeyer's assets between them if the company is acquired, the Financial Times has reported. In rejecting the Rexel bid, Hagemeyer cited continuing improvement in its performance and profitability. Industrial Distribution
(10/25)
, Modern Distribution Management
(10/25)
, Bloomberg
(10/24)
    
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Hagemeyer reports on sales figures: Hagemeyer NV has reported that overall North American sales were down 2.9% in the first nine months of this year, despite strengthening business in Canada and double-digit organic sales growth in Mexico. Modern Distribution Management
(10/23)
- Shareholders OK takeover of Ryerson
Ryerson Inc. shareholders have approved the company's buyout by affiliates of Platinum Equity. The $1.06 billion deal will take the metals distributor and processor private, and make it a subsidiary of Rhombus Holding Corp., which is owned by private investment funds affiliated with Platinum Equity. NWITIMES.com
(10/23)
| Best Practices | | |
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- Identifying traits of inept leaders
Some traits common to incompetent managers are consistently waiting to take action; keeping secrets from staff; being too sensitive; following procedures to a T; and preferring weak job candidates to avoid feeling threatened. Fast Company
(10/2007)
- Signs that it's the wrong time for outsourcing
Important factors need to be considered before moving to outsource your company's IT needs. The move is premature if, among other things, you've not done your due diligence with respect to studying potential vendors; you don't have a plan to manage an outsourcing relationship on an continual basis; and you haven't got your core business functions in order. Forbes/bMighty
(10/10)
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- Take steps to build trust with sales prospects
A strong foundation of trust and rapport is critical when establishing a sales relationship. Some fundamental ways to build that trust include creating a favorable first impression; gauging your client's temperament and adjusting to it; and understanding body language. Manage Smarter
(10/24)
| Small Business Manager | | |
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- Common goals of social entrepreneurship
Social entrepreneurship is gaining ground as self-sustaining companies move into the nonprofit direction in order to help others. Many of these social enterprises are breaking the nonprofit mold, however, by blending their social mission with money to create what are dubbed "double bottom line" businesses. Entrepreneur
(10/2007)
| Executive Life | | |
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- Report: White wine still American favorite, but pinot noir on the rise
Americans have been steadily consuming more red wine over the last 17 years, but white wine still reigns as the U.S. favorite, according to this year's edition of "The U.S. Wine Market: Impact Databank Review and Forecast." Chardonnay is the most popular wine among Americans, and merlot leads the reds by volume -- but pinot noir was the fastest-growing major variety last year in either category, according to the report. Wine Spectator
(10/23)
| NAW Insider | | |
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How do you insure part of a set?
The Hartford offers Pairs and Sets coverage that can make a wholesaler-distributor "whole" after suffering a covered loss to a pair or set. Read the full article here.
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Employee Performance Improvement Tool Kit: Your key HR resource
Every distributor needs a more structured approach to improving employee performance, and the Employee Performance Improvement Tool Kit (book and CD) fits that bill. Use it to find, hire, develop, evaluate and retain efficient and effective employees. It includes dozens of customizable templates and 21 different samples of distribution jobs. Make it a key component in your human resources program.
| Weekly Poll | | |
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Does your company have a fraud investigation policy?
After voting once, check out the real-time poll results on NAW's All Access page as often as you'd like.
 | Yes, we have a comprehensive policy. |
| We have one, but it needs updating. |
| We do not have one yet but are working on it. |
| We do not have a policy regarding fraud investigation. |
| SmartQuote | | |
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 | I believe people run marathons every day of their lives in one way or another, and we need to remember to give ourselves the finishers' medals we deserve."
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| | Recent NAW SmartBrief Issues:
- Wednesday, October 24, 2007
- Monday, October 22, 2007
- Friday, October 19, 2007
- Wednesday, October 17, 2007
- Monday, October 15, 2007
| | | Lead Editor: Ashley McMaster
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