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| NAW SmartBrief |
| February 1, 2008 |
Airgas sales top $1 billion in third quarter
Airgas, Inc.'s net sales for its fiscal third quarter ending Dec. 31, 2007, were $1.01 billion, marking a 28% surge from the year-ago period. The company's quarterly profit was $56.8 million, versus $32.5 million in the prior year. "This was our second quarter with more than $1 billion in sales, demonstrating the effectiveness of our growth strategies," Airgas CEO Peter McCausland said. "We are seeing good growth in energy and infrastructure construction, which has bolstered our core business." Modern Distribution Management (1/29), RTT News (1/28)
Cardinal Health lowers 2008 earnings outlook
Cardinal Health Inc. saw a 56% drop in its fiscal second-quarter earnings, and lowered its overall earnings outlook for 2008, citing several issues affecting its pharmaceutical unit, including an expectation of price increases for branded drugs and dipping prices in the generic-drugs market. Following the end of the quarter, Cardinal Health wrapped an early renewal of a multiyear pharmaceuticals distribution agreement with Walgreens Co. Forbes/Associated Press (1/29)
Tessco reports Q3 dip in net income
Wireless distributor Tessco Technologies Inc. saw its fiscal third-quarter net income slide almost 17% versus the year-ago period, despite a slight increase in revenues. "We believe we are in a solid position to prevail in a weak market," CEO Robert B. Barnhill said. American City Business Journals/Baltimore (1/29)
Other News
New technology tools can rev up productivity
Innovative technological tools offer a means for boosting productivity and improving knowledge, says technology coach Terry Brock. Among them are Lenovo laptops, the Franklin Speaking Spelling Bee for children, and the Spracht speaker phone. American City Business Journals (1/28)
Pick company spokesperson wisely in a crisis
Although the CEO may appear to be the logical person to take center stage before the public when a company is facing tough times, he or she shouldn't assume this role if communication skills aren't their strong suit. Title alone should not dictate who would be most effective in representing a company that is under fire, and the best time to decide who would best fill that role is before a crisis hits, when the decision can be made thoughtfully. BusinessWeek (1/24)
Ask right questions to understand customer needs
A key to successful sales is mastering the "art of the question," and listening carefully to the answer. Rules in the process include not assuming anything and gaining information; gauging your relationship status and customer interest; and promoting interaction to listen even more. CEO Strategist (1/29)
Tips for avoiding frivolous lawsuits
Frivolous litigation is just as much a threat to entrepreneurs as it is to their CEO counterparts at big corporations. Business owners can take some steps to avoid false claims by employees, beginning by hiring people you trust and working for people you respect. Entrepreneur (1/2008)
IRS warns of rebate-related Internet scams
The Internal Revenue Service issued warnings about scams that use proposed tax rebates to gain personal information from victims. No tax rebate measure has passed into law, but rebate-related scams are already cropping up. Some of the scams use official-looking e-mail messages to lure recipients into entering their financial and personal data at fake IRS Web sites. The Washington Post (1/31)
401(k) holders fret over markets' ups and downs
The middle class, including baby boomers approaching retirement age, is experiencing anxiety as it watches retirement savings tied to financial markets bounce up and down. About 50 million Americans participate in company-sponsored 401(k) plans. The number has gone up since 2000 as more employers do away with traditional pensions. Los Angeles Times (free registration) (1/30)
Automation creates need for e-commerce insurance
Where would you be if a virus caused your computer network to crash, or if an artificially generated electric current damaged your material handling equipment? Would the expense be out of pocket if one of your salespeople had a laptop stolen? The Hartford offers low-cost solutions for some exposures that could be high-tech nightmares. Learn more here.
Move the distributor-supplier relationship from dysfunctional to effective
It takes a long time to develop good distributor-supplier relationships, but it only takes a short time to destroy them. Working at Cross-Purposes from the NAW Institute for Distribution Excellence examines what drives these relationships, how often they go bad and why. Both partners can learn to avoid the economic and other consequences of a relationship turning sour by correcting emerging problems before they become critical.
What technology do you find most useful in doing business?
PDA/Blackberry...so I can communicate anywhere
Laptop...so I can work anywhere
GPS device...so I can get anywhere
Other
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