| August 15, 2008 | News for the wholesale distribution industry |
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- Lawson Products to pay $30M to settle pending lawsuit
Lawson Products Inc. has agreed to pay $30 million to the federal government to settle a case in which some former employees of the MRO distributor were found to have made $140,000 in kickbacks to customers. The company says it cooperated in the federal investigation and has implemented a new ethics program. Industrial Distribution
(8/12)
     
 | The Five Keys to World-Class Distribution
In a changing marketplace and a tightening economy, distributors must be willing to make changes to their procedures, concepts and customer service in order to stay paced with the competition. Click here for a free white paper and learn what it takes to achieve success in the modern era of distribution. |
| Best Practices |  | |
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- Turnarounds done right
Reforming a struggling company isn't simply a matter of slashing expenses; professionals hired to bring about a turnaround must earn the trust of the staff and management team by being a good listener so they can get to the bottom of why the company is foundering. "There's a reason we used to be called 'turnaround artists,'" says corporate restructurer Alex Wolf. "Fixing a company is more art than science. You have to come up with creative solutions." CFO.com
(8/12)
- Incentives boost wellness programs' success
Employee health and wellness programs are now offered at an array of U.S. companies, yet fewer than 30% of eligible individuals take advantage of them, according to a PricewaterhouseCoopers survey. However, enrollment increases when organizations incentivize employees to participate. Business Finance
(8/11)
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- With horizontal marketing, companies pair up to save money
When a Wisconsin Honda dealer increased the foot traffic in his business by offering to give away an electric car when people purchased a home through a particular real- estate agent, he discovered the advantages of horizontal marketing. Both the car dealer and real-estate agent benefited by offering an expanded service to a broader range of customers. Entrepreneur.com suggests three creative and cheap strategies for building a horizontal marketing campaign. Entrepreneur.com
(8/8)
| Small Business Manager | | |
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- Small businesses will increase technology spending
Businesses with five to 99 employees are expected to spend $280 billion on technology by 2012, increasing 6% to 8% each year, according to a five-part series of reports from Compass Intelligence. The fastest-growing sectors likely will be managed and hosted services, wireless and some networking. InformationWeek
(8/11)
| Executive Life | | |
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- New rules of air travel in less-glamorous age
The glamour of the Jet Age has faded with high fuel costs and long security lines, but one columnist advises that keeping abreast of the new guidelines can ease the hassles of flying. Among the tips he offers are: Pack lightly to avoid carry-on fees and make sure to take advantage of e-ticketing. The Age (Melbourne, Australia)
(8/13)
- Greenspan expects housing prices to stabilize next year
While criticizing the government's response to issues plaguing Fannie Mae and Freddie Mac, former Federal Reserve Chairman Alan Greenspan said he expected the U.S. housing market to stabilize within the next year. "Home prices in the U.S. are likely to start to stabilize or touch bottom sometime in the first half of 2009," Greenspan said. Stable housing prices in the U.S. are "a necessary condition for an end to the current global financial crisis," he said. The Wall Street Journal
(8/14)
| NAW Insider | | |
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Preventability of motor-vehicle collisions
A significant expense for almost any wholesaler-distributor is the cost of commercial automobile insurance. Here are some suggestions you can use to protect your business and avoid costly motor-vehicle accidents.
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Use acclaimed industry trends report in your strategic planning
There's no better resource to help with strategic planning during an economic downturn than Facing the Forces of Change®: Lead the Way in the Supply Chain This report provides practical insights into key trends impacting the distribution supply chain and is packed with specific action ideas and planning tools that you can use today to plan for growth and profitability.
| Weekly Poll | | |
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What kind of training does your company offer its sales team?
After voting once, check out the real-time poll results on NAW's All Access page as often as you'd like.
 | Seminars, guest speakers and conferences |
| In-house company coaches |
| Peer system -- Newer reps work with seasoned reps |
| A combination of these |
| We do not offer sales training |
| SmartQuote | | |
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 | Action may not always bring happiness, but there is no happiness without action."
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| | Recent NAW SmartBrief Issues:
- Thursday, August 14, 2008
- Wednesday, August 13, 2008
- Monday, August 11, 2008
- Friday, August 08, 2008
- Thursday, August 07, 2008
| | | Lead Editor: Ashley McMaster
Contributing Editor: Nancy Melville | Robert Jones
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