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| NAW SmartBrief |
| February 29, 2008 |
Manufacturers call for crackdown on counterfeiters
Lured by the prospect of big profits, counterfeiters increasingly are turning from DVDs and designer clothes to products such as electronics, building supplies and medical equipment. Manufacturers complain that packaging has grown more sophisticated, making it difficult to distinguish at first glance counterfeit products from genuine ones. Counterfeit products account for up to 7% of global trade, according to the Counterfeiting Intelligence Bureau, and up to 95% of those products come from China, a report says. Modern Distribution Management (2/25)
Credit crisis trickling down to smaller banks
Beset by bad real-estate loans, thousands of small and mid-sized banks across the U.S. are tightening their lending, leading to a credit crunch for local businesses. Analysts say 50 or so of these banks could fail within 18 months, while some of the others are likely to shutter individual branches or look for merger partners to keep them afloat. The New York Times (2/27)
PrimeSource buys 3-G Supply
PrimeSource Building Products has acquired fastener distributor 3-G's Supply in a deal that will give the buyer a presence in the Cleveland-area market. "The acquisition of 3-G Supply is going to fulfill a geographic need for PrimeSource," co-CEO Ken Fishbein said. Financial details of the deal were not announced. Industrial Distribution (2/26)
Restaurant deal boosts profit at Performance Food Group
Fourth-quarter profit at Performance Food Group Co. exceeded analyst expectations, jumping 17% to $15.1 million, due largely to a new deal with restaurant chain O'Charley's Inc. For the full year, net income reached almost $51 million, up from $42.8 million a year earlier. Houston Chronicle/Associated Press (2/26)
Other News
Keep brand alive by rethinking your company
Companies need to define and re-imagine their brand in order to keep the emotional connection with customers that is so essential for success. Some tips for re-evaluating and updating your business are knowing yourself and remembering the company's original concept; differentiating yourself from the competition; looking at what people really get out of the solution you offer; and challenging yourself to evolve. Manage Smarter (2/26)
Integrating steel giants: An interview with the ArcelorMittal postmerger managers
The merger of two large, complementary companies presented an unusual challenge: sustaining growth as well as focusing on integration and cost savings. The McKinsey Quarterly (free registration for SmartBrief readers) (2/2008)
Perfect the "elevator pitch" to grab customer's attention
A key to getting in the door in making a sales pitch is honing what one expert calls the 30-second "elevator pitch." The pitch should drive home the message of how the service could improve the customer's bottom line. It also should involve simple sentences and provide context that ties the pitch in with something relevant to the customer's current business. Forbes (2/25)
Survey: Too much information can be a big time-waster
Information overload is cutting into productivity in the workplace, according to a LexisNexis survey of 650 employees in a range of industries, 68% of whom said they spend more time organizing masses of data than using it, and 85% of whom said their inability to find the necessary information at the right moment is a major drain on their time. Inc.com (2/26)
Poll finds few Americans to spend stimulus checks
Fewer than 20% of Americans say they plan to spend the rebate checks Washington is sending them to stimulate the economy, a Bloomberg/Los Angeles Times survey shows. About six in 10 respondents said the U.S. is already suffering from a recession. Half say the economy will be in about the same condition in six months, while almost three in 10 said it will be worse. Bloomberg (2/28)
Which movie-viewing option is best for you?
Several of the choices for renting movies are detailed in this article from The Indianapolis Star. Traditional brick-and-mortar stores provide easy access, although some stores have limited titles, while download services provide instant gratification at a higher cost for newer releases, according to the article. The Indianapolis Star (2/28)
Wholesaler-distributors may be held liable for product defects
Although manufacturers, not wholesaler-distributors, usually are held responsible for injury arising from a defective product, wholesaler-distributors may be held liable for product defects under certain circumstances. Get more information here.
Transform your sales force for the 21st century
Distribution companies, by their nature, should be sales-oriented companies. However, many distributors don't do sales very well. That's the premise behind Transforming Your Sales Force for the 21st Century, Second Edition. Written by Dave Kahle for distribution sales managers and executives, this new second edition provides a blueprint to transform sales forces into highly directable, effective and focused performers.
Do you ever feel bored at work?
No, I usually go from one project or assignment to the next.
Sometimes. I probably could be more proactive.
Yes, I find that I often could fit more into my work day.
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