| January 12, 2009 | News for the wholesale distribution industry |
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- IMARK, Equity/EDN merger is complete
IMARK Group and Equity/EDN merged Jan. 1 to create a new entity with combined sales of almost $15 billion. The two electrical industry buying groups will now operate under the IMARK brand, with Equity/EDN now as the Equity/EDN Division of IMARK Group. "We are excited about Equity-EDN becoming part of IMARK, which further strengthens our platform where all independent distributors and suppliers can grow and prosper in a culture that supports our combined goals," said Bob Smith, president and chief executive officer of IMARK. Industrial Distribution online
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- Tech Data sees big things happening on storage virtualization front
Storage virtualization should be a key trend in 2009, according to a Tech Data executive. The IT distributor recently signed an agreement to carry storage virtualization software from DataCore Software Corp. "I clearly think we're starting to see the predictions from this time last year come true, that storage virtualization would be the next great frontier," said Pete Peterson, senior vice president and general manager of Tech Data's Advanced Infrastructure Solutions business unit. ChannelWeb Network
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- Trucking industry continues to see layoffs
Layoffs across the trucking industry are still coming down the pike this year. YRC Worldwide announced plans to further consolidate Yellow Transportation and Roadway, which will eliminate roughly 1,000 positions across the country. Truck suppliers such as Cummins Inc. are also laying off employees, with the engine manufacturer announcing plans last month to trim at least 500 jobs worldwide. Fleet Owner
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| Best Practices | | |
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- Don't show willingness to discount if you want to prevent haggling
It is human nature for customers to try to bargain for the lowest price, but salespeople can do some things to prevent, or at least reduce their bargaining efforts. Dave Kahle has five ideas, including improving one's appearance to present a greater value, truly believing in the price/value relationship and making sure not to advertise a willingness to give discounts. DaveKahle.com
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| Small Business Manager | | |
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- Small-business loans decline
The Small Business Administration backed 57% fewer loans than it did a year ago, according to data on its first fiscal quarter of 2009, which ended in December. A recent Federal Reserve survey showed that 75% of banks had tightened their lending standards for small-business loans and 90% reported charging more for loans and credit lines. CNNMoney.com
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| Executive Life | | |
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- Math is the best
Those who couldn't quit studying math soon enough may want to kick themselves now: It turns out that mathematician is the best job in the country, according to a study by CareerCast.com, which took into account such factors as working conditions and pay. Mathematicians' annual median income was placed at $94,160. Lumberjacks were rated as having the worst jobs, owing to low pay and the safety hazards associated with their work. The Wall Street Journal (free content)
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Time is running out: Register for NAW Executive Summit
The NAW Executive Summit – Distributor Success Stories: Profiting Despite the Difficult Economy – focuses on the most important issue facing you in 2009: the economy. Because your time is valuable, we won't tell you what you already know -- that "the economy is challenging." Instead, we'll tell you what other distributors are doing to succeed despite difficult economic conditions. Register today.
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Learn the essentials to be a profitable wholesaler-distributor
Making money in distribution gets tougher every year -- it's even harder during an economic slump! Running a successful company requires cooperative efforts from knowledgeable and motivated employees. Speed their learning and retention by giving them Essentials of Profitable Wholesale Distribution. Twice the size of the first edition, this second edition includes both brand-new and updated instructional text and all-new graphics!
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