| July 9, 2008 | News for the wholesale distribution industry |
 |  |
| News and Trends |  |  |
|
- ESOP said to help electrical distributor weather economic downturn
 With more than 1,000 employees, Border States Electric Supply of Fargo, N.D., has many people with a vested interest in making sure the company survives the current economic downturn. Under the company's Employee Stock Ownership Program, anyone who works at Border States at least 1,000 hours in a year becomes a partial owner, and, "As owners, they take action to minimize the impact of an economic downturn on Border States," says CEO Tammy J. Miller. Modern Distribution Management
(7/2)
    
- Analysts: Wolseley may face liquidity crisis
With its stock at a seven-year low and no housing recovery in sight, Wolseley, the world's largest plumbing and construction products distributor, needs to immediately address its balance sheet, analyst Jessica Flounders said. She was quoted in a newspaper as saying: "The company may be able to strengthen the capital structure through asset disposal and further cost cutting, but these will eat into the growth of the businesses. Other options are a dividend cut or capital raising." Another analyst in the U.K. called Wolseley's current financial structure "unsustainable." Industrial Distribution
(7/1)
- IT employment reaches all-time high
Despite the layoffs affecting many industries, the information-technology sector added 1,700 jobs in June, to reach an all-time high in the U.S. of 3,907,800 workers. While the U.S. economy overall has shed 438,000 jobs this year, businesses here have added nearly 90,000 IT positions in the same period, revealing the trend of firms "prioritizing tech projects over other work," according to Mark Roberts, CEO of the National Association of Computer Consultant Businesses. The Wall Street Journal/Business Technology
(7/7)
| Best Practices | | |
|
- Don't let your business grow stale beyond the start-up stage
To grow and thrive, businesses need a steady influx of fresh ideas of the sort that helped get your company off the ground in the first place. One expert recommends reaching out to customers, employees and suppliers for their input and opinions and to weave innovation throughout the entire fabric of your company. Entrepreneur
(7/2008)
- Commentary: Accepting job counter-offer may be career suicide
 Accepting a counter-offer from your current employer just as you are about to move on to a new firm may be flattering and provide you with an opportunity to leverage your current company's interest in keeping you to extract a higher-level position. However, the counteroffer frequently is made in haste -- one your employer may come to regret -- and may offer you more responsibility than you can handle, sending your career on a downward slide. You'll also likely create bad blood with the other company leaders who wanted to bring you on board if they suspect you used their offer merely as a means to land a better position at your current firm. Such moves can quickly sully your reputation, making it difficult for you to eventually move upward within your field. Forbes
(6/30)
| Sales | | |
|
- Six trends should transform CRM this year
A list of six trends expected to change CRM this year includes the prediction that CRM customers will be looking for more value; that customers need to learn to handle social computing; and that customers need more mobility. Selling Power (free registration)
(7/2)
| Small Business Manager | | |
|
- When going gets tough, small business works harder
Recent surveys indicate an unease has set in for small-business owners, who are less able to cope with economic hard times than are large corporations, writes USA TODAY columnist Steve Strauss. "Starbucks can close 600 stores and save a wad of cash when things go south, but all we can do is to try to somehow wring out a tad more savings by tightening the belt and to keep hustling for business." Strauss offers strategies for lean times that he has gleaned from other small-business owners. USA TODAY
(7/6)
| Executive Life | | |
|
- World's coolest hotels described
A recent Reuters report describes the world's coolest hotel rooms, as rated by author Bill Tikos. The hotels include those with private pools and day beds in lush, secluded gardens, as well as an art hotel in Italy, but not one of the world's 50 coolest hotels was in the U.S. New York Hospitality by Vijay Dandapani
(7/7)
- A wine for every dish
It's possible to pair even the most difficult of foods with an appropriate wine, writes Joyce Goldstein. She explains how chefs and sommeliers can work together to pair wines with foods such as asparagus, artichoke and cabbage. Sommelier Journal
(7/2008)
| NAW Insider | | |
|
-
SIRIUS Satellite Radio
SIRIUS Satellite Radio is available in more than 50 Hertz locations in the U.S. Tune in to more than 120 channels of commercial-free music from R&B to classical masterpieces; world-class news; and the best in entertainment, talk, comedy, traffic and weather. There's something for everyone! To enroll in the NAW/Hertz Business Account Program, visit NAW's Web site.
-
Don't make wrong decisions about profitability
Al Bates, founder and president of Profit Planning Group, has spent 30 years analyzing distributor financial statements. His findings in Profit Myths in Wholesale Distribution boil down to this conclusion: Much, and possibly even most, of what managers in distribution companies know about improving profitability is wrong. Good economic times mask this fact, while challenging times make this fact absolutely dangerous!
-
Brand new: Make your operations lean in challenging times
Becoming lean in distribution is more important than ever in today's challenging economic market. Applying lean concepts makes sense because becoming lean means becoming a more effective distributor. And becoming lean will lead to higher profitability. Lean Operations in Wholesale Distribution focuses on the lucrative operations area and discusses steps distributors must take to design and manage a lean culture.
| Weekly Poll | | |
|
-
Do you offer customers incentives to hold on to their business?
After voting once, check out the real-time poll results on NAW's All Access page as often as you'd like.
 | Yes, especially in these economic times. |
| No, if what our business offers is not enough, that is too bad. |
| We have not before but might soon consider it. |
| SmartQuote | | |
|
 | People, even more than things, have to be restored, renewed, revived, reclaimed and redeemed; never throw out anyone."
|
| |
| |
|
Read more at SmartBrief.com |
|
A powerful Web site for SmartBrief readers including:
|
|
|
|
| |
| |
| | Recent NAW SmartBrief Issues:
- Monday, July 07, 2008
- Thursday, July 03, 2008
- Wednesday, July 02, 2008
- Tuesday, July 01, 2008
- Monday, June 30, 2008
| | | Lead Editor: Ashley McMaster
Contributing Editor: Nancy Melville | Robert Jones
Mailing Address:
SmartBrief, Inc.®, 1100 H ST NW, Suite 1000, Washington, DC 20005 | |
| |
|
| © 1999-2009 SmartBrief, Inc.® Legal Information |
|
