News and Trends

• Tight credit, weak economy affected IDG bidding
  A proxy statement filed with the SEC last week by Industrial Distribution Group about its pending acquisition by Luther King Capital Management indicates a tight credit market and slowing economy played into the drawn-out bidding for IDG. Platinum Equity, the original victorious bidder, reduced its offer due to concerns over weakness in the industrial segment. When investment banking firm Robert W. Baird & Co. went back to five other bidders for new proposals, those offers also came in at "significantly reduced purchase prices." Modern Distribution Management (5/21)

• Grainger seeks expansion in Central America
  W.W. Grainger Inc. is expanding its presence in Central America with a new branch opening this summer in Panama and a plan to become a "national player" in Mexico through the addition of more branches there. Industrial Distribution (5/21)

• Staples' bid looks like a long shot, some observers say
  Some experts say Staples Inc.'s $2.34 billion unsolicited bid for Dutch rival Corporate Express NV may be a long shot, given the current weakness of the dollar versus the euro and a spotty record for trans-Atlantic deals of a hostile nature. Reuters (5/21)

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Best Practices

• Questions key in negotiating sales
  Good selling involves asking good questions, and the more questions asked, the better, an expert says. People love to talk about themselves, so open-ended questions can make others feel comfortable, but yes or no questions can also produce helpful information quickly. American City Business Journals (5/19)

• Rock stars can be role models for business leaders
  Rock stars have more in common with business leaders than some may think, and they can serve as valuable models. They show that optimal performance requires exceptional dedication to practice, and a tremendous thirst for learning. BusinessWeek (5/15)

Sales

• Time, territory management essential for sales planning
  Time management is critical for sales success, and sales people should go through a fundamental time management course every 12 to 24 months, according to Dr. Rick Johnson. A 120-day territory sales plan is a good way to start, and sales management should involve determining activities that need to be accomplished and acting on them. CEO Strategist (5/11)

Hot Topics

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

• Wolseley to close branches, trim 250 jobs (Industrial Distribution)

• Leave out wimpy words for a powerful presentation (Manage Smarter)

• Home Depot sees 66% drop in Q1 profits (Los Angeles Times)

• Five distributors win contracts with Premier Purchasing (American City Business Journals)

• Keys to success include standing out and beating the competition (American City Business Journals)

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

Small Business Manager

• Common startup mistakes can stall the best of plans
  Five common business mistakes can turn a good startup idea into a stalled plan. They include not making enough profit to bring in employees or subcontractors and picking a target market that is too small. Entrepreneur (6/2008)

Executive Life

• Column: Cut portfolio tax exposure to increase success
  Charles J. Farrell uses an InvestmentNews column to offer strategies for reducing tax liabilities for retirement portfolios. "A lower tax rate means lower distributions, which means a higher probability of long-term portfolio survival," Farrell said. InvestmentNews (5/22)

• Panasonic unrolls Web-oriented TV
  The PZ850 high-definition plasma TV displays Web content including YouTube and Google's Picasa photo-sharing site. The unit is camcorder-friendly and equipped with an SD card reader. Pocket-lint.co.uk (5/23)

NAW Insider

• Hertz Prestige Collection
  Imagine yourself driving a sleek Audi A6, classic Lincoln Navigator or a stylish Volvo. If this is your kind of car, Hertz is your kind of car rental company. The Hertz Prestige Collection brings you luxurious vehicles all equipped with NeverLost®, Hertz's in-car satellite navigation system. To enroll in the NAW/Hertz Business Account Program, visit NAW's Web site.

• Billion Dollar Company Roundtables for CIO, HR executives
  NAW's Billion Dollar Company Roundtables provide a unique networking experience. Join your peers to speak in a noncompeting atmosphere about the issues and topics that affect your business today. Visit NAW to join the groups and learn more about the upcoming events.
  

Weekly Poll

• In which foreign market do you see the most growth potential in the near future?
  After voting once, check out the real-time poll results on NAW's All Access page as often as you'd like.

	China, India and other Asian countries
	Central and South America
	Europe
	Other

Information Technology Manager All-Tex Pipe & Supply, Inc. Dallas, TX Product Marketing Manager Johnstone Supply, Inc. Portland, OR Supply Chain Manager J.J. Haines & Company, Inc. Baltimore, MD Account Manager Coastal Chemical & Paper Supply, Inc. Sarasota, Florida CFO / Controller International Wholesale Tile Palm City, Florida Hydraulic/Pneumatic Sales The Hope Group Northboro, Mass.

SmartQuote

And each man stands with his face in the light of his own drawn sword. Ready to do what a hero can." --Elizabeth Barrett Browning, English poet