News and Trends

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IDG attracts additional suitors
Two more companies have jumped into the bidding for Industrial Distribution Group. Luther King Capital Management says it will pay $11.70 per share, or $128.4 million, countering a $113 million buyout offer earlier advanced by Platinum Equity Advisors. A third bidder, which has not been identified, has offered $11 per share. Platinum Equity retains the right to raise its bid of $10.30 per share should IDG's board accept either of the newer offers, IDG said. Industrial Distribution (4/7)

Business owners praise stimulus plan at White House meeting
Business owners from across the country met with President George W. Bush at the White House on Monday to discuss how the economic stimulus package is helping their companies. Ray York, owner of Ewing Irrigation Products and past chairman of NAW, told the president that the provision for accelerated deductions on equipment purchases helped him change his mind about a major capital investment. Despite being "a bit concerned about how this year would be for us because of the obvious slowdown in housing," York said, he decided to purchase new trucks to take advantage of the 50% tax deduction offered under the stimulus plan. The Arizona Republic (Phoenix) (4/8)

Retailers adapt fleets to cut carbon emissions
Despite the higher cost and more limited distribution network for biodiesel fuels versus petrochemicals, grocery giant Safeway has converted its entire fleet of 1,000-plus delivery trucks to operate on B20, a mix of biodiesel and petroleum diesel. A company spokeswoman says the shift from regular diesel will reduce CO2 emissions by 75 million pounds per year, but "doesn't affect our overall fleet efficiency or its ability to deliver our products." Other big-name retailers such as Wal-Mart and Tesco reportedly are either contemplating or already have made similar moves. DC Velocity (4/2008)

Other News

• Gordon Food Service considers Wisconsin distribution facility
  American City Business Journals/Milwaukee (4/4)

• Grainger to borrow as much as $500M to pay off short-term debt
  Forbes/Associated Press (4/4)

Best Practices

Sports psychology offers tips for getting motivated
It's important to understand the three factors at play when we feel motivated in order to get through the times when circumstances have left us feeling demoralized, says training guru Bob Selden. The factors are that the mind is being highly stimulated when we are performing well; we typically are emotionally balanced; and we usually are physically fit. This article offers tips for achieving these factors. Manage Smarter (4/4)

Credit cards not always a winning proposition
Credit card perks often are not what they seem to be, and quite often, they're simply a rip-off, according to the architect quoted in this article. Businesses are advised to limit their credit card use and focus on getting a lower interest rate. American City Business Journals (3/31)

Sales

Bring exec into sales call for relationship building
Bringing an executive into a sales call can help boost communication with a customer, and some key tips can help make the call more successful. They include making sure to prepare the executive with relevant facts and giving the executive an account plan or relationship analysis. Miller Heiman (4/1)

Small Business Manager

Tax code offers small businesses relief, incentives
The Ernst & Young Tax Guide 2008 offers tips for changes in the 2008 tax code that apply to small-business owners. Among the tips are ways to find relief from higher minimum wages by hiring disabled veterans and buying new equipment. Forbes (4/4)

Executive Life

EU allows travelers to use cell phones during flights
The EU on Monday passed new rules that will allow travelers to use their cell phones on commercial flights. Phone service will be blocked during takeoff and landing, and officials say the system has been fully tested and will not compromise safety. U.S. officials say they have no plans to lift a ban on cell phone use on flights. The New York Times/Associated Press (4/7) The New York Times/Reuters (4/7)

Column: 401(k) fees are a leak on retirement savings
Only a handful of workers understand 401(k) fees and how they act as a leak on retirement savings, Marshall Loeb writes in a commentary for MarketWatch. About 83% of account holders don't know how much they pay in fees. Loeb advises readers to question fees labeled as "expense ratio," "front-end sales load," "back-end sales load" and "12b-1 fee." MarketWatch (4/3)

NAW Insider

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Boost sales power with More to the Bottom Line

Are some of your customers more trouble than they're worth? What should you do about it? The NAW Institute for Distribution Excellence book "More to the Bottom Line: Customer Profitability Analysis Tools for Distributors" answers those questions and lays the foundation for a powerful new sales strategy.

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How will your company adjust to an economic downturn?
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