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NAW SmartBrief

July 20, 2007

News and Trends

PVF supplier merger brings McJunkin, Red Man together
The merger of McJunkin Corporation and Red Man Pipe & Supply Co., two industrial and oilfield PVF supplies distributors, will create one of North America's leading industrial and oilfield PVF suppliers. The combined company will have two headquarters, one in Oklahoma and one in West Virginia, as well as two co-chief executive officers after the joining. Progressive Distributor (7/18)

Agilent agrees to let Avnet distribute semiconductors
Agilent Technologies Inc. has entered into an agreement with Avnet Inc. allowing Avnet Electronics Marketing to distribute a line of Agilent semiconductor products throughout North America. Terms of the deal have not been disclosed. The deal involves Agilent's line of millimeter-wave semiconductor products, which can be used in radios and satellites, among other applications. CNNMoney.com/Dow Jones Newswires (7/17)

The push and pull of private labels
Private-label brands, which control 16% of the U.S. food industry, are gaining more traction as consumers seek more value. Manufacturers are fighting back by marketing more upscale items and creating private labels of their own. Yahoo!/Associated Press (7/17)

Other News

McKesson to purchase patient care software maker Awarix
Health Data Management (7/16)

Best Practices

Prevent "success intoxication" by staying grounded and focused
Getting "too much too fast" in business can result in success intoxication, which can lead to an inflated ego and inability to appreciate values outside the realm of one's entrepreneurial pursuit, according to this writer. To combat this condition, this author suggests that individuals craft a "personal mission statement" outlining their basic needs and values as a way to help keep them grounded amid even the most dizzying of successes. DaveKahle.com (6/19)

Sit for success
Where you sit at the table during a business meeting can affect how your boss and colleagues listen and react to you. BusinessWeek (7/23)

Sales

Take the driver's seat in a sale by asking questions
The best way to take control of a sale is to simply ask more questions, one sales trainer says. Although some salespeople feel that by answering questions they're impressing clients, in reality, the customer gains control of the sale when put in that position. Salespeople are better off determining their key objectives and asking "what" questions. Manage Smarter (7/13)

Small Business Manager

Keep employee recognition programs fresh
Employee-of-the-month awards vary by company and commonly include an engraved name plate and smiling photo of the honored employee or a reserved parking space. To make these programs more successful, employers should recognize outstanding service when it happens instead of just once a month, change programs from time to time to offer new incentives and keep programs open to all employees. American City Business Journals (7/16)

Executive Life

Savvy travelers develop strategies to deal with flight delays
Weather delays and scheduling snafus have become the bugaboo of air travelers, a situation recognized by the industry. "We don't have an air traffic control system capable of dealing with the volume even without the weather," says an Air Transport Association spokesman. Smart travelers have devised strategies to get where they want to go with minimum delays. The Wall Street Journal (7/19)

The gin and tonic cocktail gets a makeover
This summer, the classic gin and tonic is switching it up, with each component adding some exciting new flavors. New gins, such as Tanqueray Rangpur, add lime, while tonics like Stirrings are sweet and light. MSNBC/Newsweek (7/23)

NAW Insider

Forklift safety awareness

Stacks, bundles and rolls of raw material and finished products of various shapes, sizes and weights must be moved in every wholesaler-distributor operation. The Hartford offers solutions to increase forklift safety awareness and reduce excessive and inefficient material handling that eats into productivity and profits. Learn more.

NAW's Large Company CEO/COO Networking Roundtable
NAW's Large Company CEO/COO Networking Roundtable, Chicago, Sept. 19 to 20, joins CEOs and COOs from wholesale distribution companies with sales $100 million and above to network and learn. Agenda topics are based on responses from the Executives community and address specific needs of the group, including Going Green, Driving Sales Beyond, Crisis Management, Today's Economy, and Ethics. Get more details and register here.