News and Trends

• Arrow reports drop in Q3 profit
  Arrow Electronics Inc. posted a profit of $76.1 million for the third quarter, a 22.6% drop from $98.3 million for the same period last year. Sales at the electronic products distributor rose 7% to $4.3 billion for the third quarter. "The volatility in the world's economies and the virtual shutdown of the credit markets made the third quarter especially difficult," said CEO William E. Mitchell. Modern Distribution Management (10/22) , Reuters (10/22) , Forbes/The Associated Press (10/22)

• Wolseley to let go 3,000 workers in the U.S.
  British plumbing equipment distributor Wolseley Plc announced plans to lay off 3,000 employees of Stock Building Supply in the U.S., which Wolseley has been unsuccessful in shedding. "We expect the U.S. housing market to get worse before it gets better," said Wolseley finance director Steve Webster. Bloomberg (10/23)

• Distributors can hire college grads with less competition
  According to a survey from the National Association of Colleges and Employers, the construction and trade sectors plan to reduce their hiring from among the latest crop of college graduates by 19.6% and 7.4%, respectively, while the manufacturing sector will hold steady in terms of its hiring within this demographic. The good news for distributors is they will have an opportunity to scoop up talented college graduates with less competition. Modern Distribution Management (10/22)

• Other News

• Ikon Office Q4 profit dips
  Forbes/The Associated Press (10/22)

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Best Practices

• Private equity-backed firms face unique management challenges
  The constraints of a corporate ecosystem tend to make CEOs at publicly owned companies less flexible and less driven than the leaders of private companies, said panelists at a recent Wharton Business School conference. Private equity's need for maximum improvements in their portfolio is impacting the way CEOs are hired, and the lines between hiring for public and private firms increasingly are becoming blurred. Knowledge@Wharton (10/15)

• Tips to keep managers busy during the downturn
  Some managers may find themselves searching for ways to devote their energies when business is slow amid the general economic downturn. Managers can use this time to announce cost-cutting measures -- which may involve the unpleasant task of deciding whether to let people go -- and also using the lulls as an opportunity to spend time with customers to get to know them and their needs better. IndustryWeek (10/1)

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Sales

• How to assess a candidate's negotiating skills
  The way in which candidates vying for sales jobs negotiate the terms of their employment, including salary, can provide important clues into how well they would operate in a professional capacity. A strong candidate should be expected to ask for more than the amount offered, and likely won't give an immediate response once an offer is made. Selling Power (free registration) (10/15)

Hot Topics

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

• Jim Cramer showcases Watsco on "Mad Money" (CNBC)

• Tips for getting your message across clearly (Entrepreneur.com)

• Companies need to play offense when times get tough (Selling Power)

• Genuine Parts Q3 profit jumps to $131 million (RTT News)

• Four-day workweek has drawbacks (Workforce Management Online)

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

Small Business Manager

• Controlling working capital keeps business from failing
  Stephen L. Rosenstein of Greater Baltimore's SCORE has advice for maintaining control over working capital. Rosenstein offers guidelines for each of six components of working capital: cash and equivalents, accounts receivable, inventory, accounts payable, notes payable, and accrued expenses and taxes payable. The Sun (Baltimore) (10/19)

Executive Life

• From Munich to Bali, top 10 places to spend the holidays
  To get travelers in the holiday mood, Munich features the Marienplatz Christmas market with hot spiced wine and traditional crafts. For those looking for something a bit more exotic, Bali offers amazing sunsets at Tanah Lot, an island temple. Edinburgh, meanwhile, features fireworks over the Palace of Holyroodhouse while bagpipers play "Amazing Grace." This Travel + Leisure article features 10 great places to spend the holidays. Travel + Leisure (11/2008)

• Breads that are out of this world
  American coffee cakes, Danish pastry and pain au chocolat don't have the origins that maybe you thought they did. This article also discusses the bialy, Irish soda bread, layered phyllo pastries and doughnuts. Saveur (10/2008)

NAW Insider

• OUTLOOK 2009: Get the latest on key industry trends!
  OUTLOOK 2009 provides an update on the major and emerging trends identified in 2007's Facing the Forces of Change. It emphasizes practical steps for distributors to take for real success. Read it and make a personal commitment to knowledgeably respond to key industry trends, share information with your staff, and plan for success through strategic thinking, analysis and positive action.

• Save on overnight shipping with DHL ShipReady
  NAW and DHL have partnered to offer a unique delivery service from DHL Express. Members can ship anywhere in the continental U.S. for one flat rate with no weight limits, extra fees or fuel surcharges. Receive two free envelopes with your first order by visiting the ShipReady site and entering the promo code NAWSR07.

Weekly Poll

• Does your company plan to increase college-graduate hires in 2009?
  After voting once, check out the real-time poll results on NAW's All Access page as often as you'd like.

	Yes. There is less competition right now as other industries are decreasing their hires.
	No. There likely will not be room in the budget for bigger salaries.
	We will hire the same number as previous years.

Business Manager Curbell Plastics, Inc. Various Locations Vice President of Distribution Uline Waukegan, IL Vice President, Supply Chain Stein Mart Jacksonville, Florida

SmartQuote

If you don't have butterflies, it's because you know you have no chance." --Paul Azinger, professional golfer