Most Clicked NAW SmartBrief Stories
1. Economic downturn expected to catch up with industrial distributors
NAW SmartBrief | Nov 21, 2008
Although most industrial distributors so far have escaped the effects of the economic downturn, the decrease in industrial activity soon will trickle down to distributors, according to this Reuters analysis. U.S. producer prices dropped a record 2.8% in October, and industrial production decreased 3.7% in September. "The deflationary environment would be a pretty significant negative for all industrial distributors," said Brent Rakers, an analyst for Morgan Keegan. Reuters (11/18)
2. HD Supply CEO looks to infrastructure sector for relief
NAW SmartBrief | Nov 21, 2008
The CEO of HD Supply remains optimistic that infrastructure spending will not fall as hard as residential construction. Joe DeAngelo said the "endless critical demand" for infrastructure projects can only continue as city populations grow. Modern Distribution Management (11/18)
3. 5 reasons many leaders fail to have lasting impact on employees
NAW SmartBrief | Nov 21, 2008
Only 20% of leaders truly influence workers in a way that lasts, research indicates. Some leaders lack influence because they don't think it's their job to influence others; other leaders simply lack competence; and others in leadership positions don't realize that influencing involves more than talking. Manage Smarter (11/17)
4. From turkeys to time off: Let staff know you care during downturn
NAW SmartBrief | Nov 17, 2008
Managers need to get proactive during tough times in order to boost morale and keep employees motivated. A list of 10 tips for raising employees' spirits includes shortening the work week to four days with extended work hours, giving employees turkeys at Thanksgiving, along with a card acknowledging the tough times, or helping to facilitate a car pool and perhaps giving a gas card to those who stay in the car pool for a certain amount of time. Manage Smarter (11/12)
5. Wolseley announces additional layoffs after Q1 profit drops
NAW SmartBrief | Nov 21, 2008
After Wolseley's profit declined 30% in its fiscal first quarter, which ended Oct. 31, the buildings materials distributor announced plans to lay off 2,300 employees in the U.K. and Scandinavia. The job cuts are in addition to the 5,000 layoffs already implemented in the first quarter. "In these unprecedented circumstances, the key priorities remain driving cost reduction and enhancing cash flow to ensure the group remains compliant with its banking covenants," Wolseley CEO Chip Hornsby said. Bloomberg (11/18) Industrial Distribution (11/18) Modern Distribution Management (11/18)
6. Ashland acquires Hercules for $2.4 billion
NAW SmartBrief | Nov 19, 2008
Ashland Inc. acquired Hercules Inc., which manufactures paint thickeners and paper chemicals, for $2.4 billion. Ashland also announced its revised management team, which includes two former Hercules executives. Forbes (11/14) American City Business Journals (11/14)
7. More closures, layoffs planned for some W-Ds, manufacturers
NAW SmartBrief | Nov 20, 2008
Several companies in the industrial distribution sector have announced layoffs and closures in the face of the weak economy. Wolseley plc subsidiary Stock Building Supply Co. will close additional locations in Nevada, Idaho and South Carolina, according to news reports, which would bring the company's total to 30 closures as part of a major restructuring previously announced by Wolseley. Elsewhere in the industry, Praxair laid off 60 workers at its technology center in Tonawanda, N.Y., a local TV news station reported. Industrial Distribution (11/17)
8. Build survival plan to get through downturn
NAW SmartBrief | Nov 21, 2008
In tough times, keeping track of your customer and employee relationships, as well as applying a logical and quantitative discipline to your company's hiring and succession-planning processes, is essential. Some questions to ask yourself include whether your company has the people necessary to lead you through tough economic times and whether your employees can do more with less. Gallup Management Journal (11/13)
9. Embrace fear during tough times to weather the storm
NAW SmartBrief | Nov 19, 2008
Instead of feeling powerless and hopeless during tough times, people have the option of embracing their fears. That involves staying grounded, leading with compassion and keeping a realistic optimism. American City Business Journals (11/03)
10. When going gets tough, get proactive and strategize
NAW SmartBrief | Nov 20, 2008
The inclination to immediately cut spending as a reaction to an economic decline is the business version of "fight or flight," and can cause big problems. Instead, companies should focus on cutting only weak products. Moreover, instead of taking a wait-and-see approach, leaders should be proactive and use data in crafting a strategy. Forbes (11/17)
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