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| NAW SmartBrief |
| November 6, 2009 |
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Manufacturing, housing helping drive economic recovery
The manufacturing and housing industries are among the sectors helping lead the economy to recovery. Manufacturing activity grew last month at its fastest clip in more than three years, while pending home sales rose 6.1% for September, per industry data. The Washington Post (11/3)
U.S. factory orders climbed 0.9% in September
U.S. factory orders rose in September, per Commerce Department, with the rise marking the fifth such increase in six months. Following an 0.8% drop in August, factory orders increased 0.9% for September as durable goods orders rose 1.4%. "Manufacturing is in recovery," said David Sloan, a senior economist at 4Cast Inc., New York. "There's a need to rebuild inventories and exports are getting stronger." The Wall Street Journal (11/3) Bloomberg (11/3)
Other News
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2009 Mid–Year Economic Forecast for Wholesale Distributors
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Become more innovative to boost productivity
Innovation is key to making the workplace more productive. Some actions to help you become more innovative include developing an awareness and understanding of your assumptions, asking the right questions and considering different angles. Business-Strategy-Innovation.com (11/3)
Team building begins with confidence
Leading with an air of confidence is essential if your goal is to get yourself and your team focused on working toward success. Seven actions to start bringing confidence to your team include starting with the leader, using trust as a confidence catalyst, building self-confidence in others by teaching them to trust themselves, and clarifying the mission. Art Petty on Management (11/2)
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Buyers' primary priority: risk, not price
Low price doesn't ever seem to be a customer's primary motivation in a sale. Instead, buyers will purchase according to the lowest risk, and salespeople should keep in mind that that is their primary concern. DaveKahle.com (11/3)
5 tips for determining cybersecurity needs
Small-business owners need to determine which data need to be protected and how important cybersecurity is before undertaking development of a data-security strategy, says David Meizlik, director of Web and data security at Websense in San Diego. Meizlik suggests five questions firms need to answer to identify the importance of security concerns. BusinessWeek.com/Today's Tip blog (11/2)
Featured Content
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Good news for distributors in GDP data
The federal government on Monday released preliminary estimates of the nation's gross domestic product for the third quarter, and the numbers contain good news for wholesaler-distributors, writes Pembroke Consulting President and NAW Institute for Distribution Excellence Fellow Adam J. Fein, Ph.D., in this blog post. The post includes a brief video on Fein's economic predictions for 2010 and information about his Nov. 19 webcast. Distribution Trends (11/3)
U.S. seeks to debunk credit-score ads
The Federal Trade Commission is trying to counter advertising by companies promising free credit reports and subscription-based credit monitoring with a sales pitch of their own. This effort includes a Web site called freecreditreport.gov and a TV ad featuring a band singing lyrics like, "Other sites may turn your head; they say they're free, don't be misled." NYTimes.com (11/2)
Column: Reservation tech yet to catch up with Secure Flight rules
Hyphens, apostrophes and long names are among the issues that need to be worked out before Secure Flight regulations go into full effect next year, The New York Times reports. Some reservations systems drop punctuation or cut off names after 16 characters, either of which could cause delays at the airport when travelers' IDs are required to precisely match the names on their travel documents. NYTimes.com (11/2)
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!
Prevent motor vehicle collisions
A significant expense for almost any wholesaler-distributor is the cost of commercial automobile insurance. The Hartford has suggestions you can use to protect your business and avoid costly motor vehicle accidents.
How did the economy impact your personal Halloween spending this year?
I spent about as much as in years past.
I spent less.
I spent more.
I never spend anything on Halloween.
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