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| NAW SmartBrief |
| February 7, 2007 |
Possible LIFO repeal has some businesses concerned
A congressional proposal to repeal "last in, first out" or LIFO, a long-standing accounting principle used to measure inventory value for tax purposes, has many U.S. businesses concerned. Some say the repeal could have a damaging impact on companies or industries that rely on inventory management to stay profitable. "The problem is that once the possibility of that kind of new revenue coming into federal coffers has surfaced, our concern is that it will not go away," said National Association of Wholesaler-Distributors Senior Vice President of Government Relations Jade West. Forward (2/2007)
Regal-Beloit forecasts first-quarter increases
The mechanical and electrical parts W-D announced it expects higher earnings during the first quarter of 2007, projecting growth that is 4% to 15% higher than the same period last year. MSN Money/Associated Press (2/5)
U.S. unemployment up for first time in three months
January's unemployment rate rose to 4.6%, the first increase in three months according to the U.S. Labor Department. The hike corresponds to U.S. employers adding fewer workers than previously forecast, although industry officials still say the job market looks good. Bloomberg (2/2)
Other News
Teleconferences benefit businesses of all sizes
Web and video conferencing are becoming increasingly cost-effective and user-friendly. These applications save companies time and money by allowing employees to work from remote locations and to meet regularly. SmartBIZ (2/7)
Avoid blow-ups regarding your career progression
It's easy to get flustered when your career isn't following the path you hoped it would, but don't take it out on those around you. If you are feeling anxiety or even anger about your job's progression talk to your manager and examine what others are doing to move up and get ahead. American City Business Journals (1/29)
Technology doesn't replace personal skills
Your company may be equipped with all the top technology tools the sales world has to offer, but without personable salespeople, it is doomed to fail. Personality includes speech, appearance and body language. Body language reveals important clues about a person and gives insight into their trustworthiness. Manage Smarter/Sales & Marketing Management (1/25)
When is it a good idea to move out of the home office?
Timing the jump from a home office to a commercial space should mesh with your desired growth rate, while taking other goals into account. Aim for flexible or shorter lease lengths if you're concerned about whether the space will meet your long-term needs, an expert advises. BusinessWeek (1/24)
"Reality travel" emerges as tourism trend
Heading in the opposite direction as most of the tourism industry, "reality travel" takes participants into a war-torn country or the slums of Brazil. A report by Euromonitor International says: "The well-traveled -- in particular, those with a cash-rich, time-poor profile -- are demanding more intense experiences. This has given rise to an increasing demand for 'holidays with an edge,' also known as 'safe danger' tourism." MSNBC/Forbes Traveler (1/29)
Americans to spend nearly $17B this Valentine's Day
Valentine's Day spending is expected to increase by 20% compared to last year, with 25- to 34-year-olds planning to spend the most money, a survey found. Americans are expected to spend more money on gifts than weekend getaways this year because Valentine's Day falls on a Wednesday. MediaPost Communications (1/31)
Rethink salesforce comp plans
What's Your Plan? an eye-opening book from NAW/DREF shows why tinkering with salesforce compensation plans in isolation can create more problems than it solves. The best strategy starts with development of overall company goals and leads to what author Mike Marks calls "alignment" of these goals with compensation.
NAW and The Hartford
NAW has partnered with The Hartford to offer insurance expertise and comprehensive coverage tailored to the specific needs of wholesaler-distributors. The Hartford also offers expedited claims handling services and a countrywide network of loss control and risk management experts to help wholesaler-distributors protect their businesses and minimize loss costs. More information available here.
Branch managers: master the 5 fundamentals
What does it take to become a "superstar" manager of a wholesale distribution branch? 5 Fundamentals for the Wholesale Distribution Branch Manager, a book from NAW, advises current and aspiring branch managers on how to succeed and excel through the mastery of five fundamental skills.
Does your company or office have a strict dress code?
Very conservative and traditional
General guidelines but reasonable
Every day is a casual Friday
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