News and Trends

• Ricoh to acquire Ikon Office Solutions for $1.62 billion
  Ricoh Co. announced plans to buy U.S. distributor Ikon Office Solutions for $1.62 billion. Ricoh is Japan's second-largest maker of office machines and competes with Xerox, Konica Minolta and Canon in the printer and copier market. Ricoh expects to expand its presence in North America and Western Europe through Ikon's 400 sales branches. Forbes/Reuters (8/27) , Bloomberg (8/27)

• Graybar says sales were $2.7B in first six months of 2008
  Graybar Electric Co. saw sales jump by 5.5% in the first half of the year to $2.7 billion, compared with $2.56 billion for the first half of 2007. "While we expect challenging economic conditions over the coming quarters, we believe we have positioned ourselves financially to generate consistent performance in spite of uncertain market conditions," said the electrical and MRO distributor's CEO, Robert Reynolds Jr. Industrial Distribution (8/27)

• Anixter purchases French, German distributors
  Anixter International announced the acquisition of two European fastener distributors to complement its European expansion strategy. Anixter paid a total of $40 million and will assume $19 million debt to acquire France's Sofrasar SA and partnership interests and shares in Germany's Camille Gergen and Camille Gergen Verwaltungs. Modern Distribution Management (8/27) , Chicago Tribune (8/27)

• Other News

• Wesco enters distribution deal with CommScope in Canadian market
  American City Business Journals/Charlotte, N.C. (8/27)

• Analyst: Office Depot to see ongoing pressure from faltering economy
  CNNMoney.com/Associated Press (8/27)

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Best Practices

• Tools needed to handle ever-present aspect of risk
  Whether it's the current economic decline or the Enron-led merchant-power collapse of 2001, certain events remind us that risk is always present, and executives need to keep that in mind. Risk management has evolved in recent decades and new skills are needed to compete in the current economic climate. Harvard Business Review (9/2008)

• Managers who can handle change help keep companies rolling
  Recent research indicates that a manager's ability to meet rapid changes in staffing needs and create high levels of employee engagement are the keys to a company's success. AlliedBarton Security Services, for instance, credits its success with hiring managers who are up to the challenge of handling spikes in demand with ease. Workforce Management (8/1)

Sales

• Reward employees for preventing problems, not solving them
  Rather than rewarding employees who go out of their way to solve customer problems, directing rewards toward those who prevent the problems in the first place can be much more cost-effective, says one expert. One problem with rewarding the solving of problems is it sets up a dangerous scenario in which employees get the best feedback only when they have let minor issues slide and then come to the rescue when they become significant. Selling Power (free registration) (8/26)

Hot Topics

Top five news stories selected by NAW SmartBrief readers in the past week.

• Economic weakness forecast through 2009 in U.S. (Industrial Distribution)

• Management mistakes that can alienate your best workers (CIO.com)

• Sales playbook can help boost sales team's success (Manage Smarter)

• Is it appropriate to ask sales professionals to return their commissions? (DaveKahle.com)

• Align strategies with core competencies, boost sales productivity (Manage Smarter)

• Results based on number of times each story was clicked by readers.

Small Business Manager

• Apply strategy in seeking funds from investors vs. bank
  Balancing sales, profits and cash flow may not optimize a company's ability to raise capital for expansion, says David Worrell, author of "Finding Funding." Equity investors want to see sales growth while a bank wants to see a record of steady cash flow. Entrepreneur (9/2008)

Executive Life

• Hotels get creative with amenities to keep guests coming
  Hotels continue to come up with innovative amenities to bring in new guests and keep existing ones happy. At the Pan Pacific Vancouver, guests are offered portable oxygen canisters for quick invigoration, and the Hyatt Regency San Francisco is offering customized wake-up calls that can be recorded by family and friends. Hotel Interactive (8/25)

• Review: Audi A5 and S5 models have true star quality
  A review of the new Audi A5 3.2 Quattro and S5 cars says the cars have true star power. Both cars are said have superior normal driving capabilities, and the authors say they agree with Audi design chief Walter de'Silva's statement that he feels the A5 is the most "beautiful car I have ever designed." RobbReport.com (8/26)

NAW Insider

• Register for NAW's Billion Dollar Company CEO Roundtable
  NAW's Billion Dollar Company CEO Roundtable, Chicago, Oct. 14 to 15, joins CEOs from distribution companies with sales of $1 billion and above to network/benchmark. Topics are based on responses from the CEO community, addressing specific needs of the group, including Associate Engagement -- Customer Loyalty; Action Plan for Sustainability and Environmental Responsibility; and Financial Markets -- The Impact on Our Industry. Register now!

• Brand new! The Distributor Specialist: Customer Champion, Profit Generator
  Specialists are used by a supermajority of top-performing distributors. As defined, the specialist supports the "front-line" sales team and other departments by playing a specific -- usually product- or technology-related -- role in the sales process. The specialist furnishes technical support, sales backup, marketing direction and product management. Learn how to use the specialist to be more profitable in today's down economy.

Weekly Poll

• Where is your company most likely to seek additional funds?
  After voting once, check out the real-time poll results on NAW's All Access page as often as you'd like.

	Banks
	Investors
	Increasing sales
	Budget cuts
	Other

Independent Sales Agent Reid Supply Company Open Director of Finance Custom Manufacturing & Engineering, Inc St. Petersburg, Florida

SmartQuote

Take rest; a field that has rested gives a bountiful crop." --Ovid, Roman poet