2009

Goal-setting is always important for salespeople. But in these economic conditions, it’s mission critical. Many sellers who scraped by in the past without being methodical and goal-oriented will fail in the coming year. Attend this conference and learn goal-setting best practices that separate stars from mediocre performers.

No salesperson plans to fail. But many fail to plan. For every star salesperson who achieves breakthrough results, several others plod on in mediocrity. More often than not the reason is that they don’t get” the single most important thing that distinguishes successful from unsuccessful salespeople – the ability to plan. More specifically, to set goals and …

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No-Excuses Selling in a Recession

Subscriber Only / MDM Staff

60 MINUTES

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Your competitors’ dream come true is that during this brutal economy you’re selling the same way as before and biding your time until things get better. You’re making their job easy. Here’s the key insight: In tough times the stakes are higher than ever for your customers and prospects. They can’t coast the way they did when the economy was forgiving.

Talk about an opportunity for a salesperson! Yes, people will be buying less until this recession ends. But so what? What matters is that in this time of tumultuous change, people are buying differently. For opportunistic sellers, that’s a huge plus. In this hard-hitting 60-minute …

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3M Sales Fall 21.3% in 1Q

Companies, Free, News, Subscriber Only / MDM Staff

3M, St. Paul, MN, reported first-quarter sales of $5.1 billion, a decrease of 21.3% from the first quarter of 2008. Profit was $518 million, about half of what it was a year ago.

As expected, the global economic slowdown dramatically affected our businesses in the first quarter, said George W. Buckley, president and CEO. “Substantial end-market declines and continued inventory takedowns in major industries, including automotive, consumer electronics and general industrial manufacturing, resulted in significantly lower sales and profits.

"Accordingly, we aggressively reduced our cost structure, lowered manufacturing output and intensified our attention to operational improvement. The combination of these actions drove strong operating …

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Applied Industrial Sales Down 14.8% in 3Q

Free, News, Power Transmission/Motion Control/Fluid Power, Subscriber Only, Top Distributor Sectors / MDM Staff

Industrial distributor Applied Industrial Technologies, Cleveland, OH, reported sales for the fiscal 2009 third quarter ended March 31, 2009, were down 14.8% to $451.6 million from the same period last year.

Profit fell 51%.

For the nine months ended March 31, 2009, sales were $1.49 billion, a decrease of 4% from the prior-year period. Profit was down 29.2%.

"Our results contained no surprises given the overall economic climate," said CEO David L. Pugh. "Sales generation and margin management will continue to be our greatest challenges for the near term as our customers respond to significant consumer withdrawal and we face increases in the competitive environment as a result. In light of this, we have made prudent moves to reduce …

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Black & Decker Sales Down 28% in 1Q

Building Materials/Construction, Free, News, Subscriber Only, Top Distributor Sectors / MDM Staff

Manufacturer Black & Decker Corp., Towson, MD, reported sales for the first quarter 2009 were down 28% to $1.1 billion. Profit was $4.9 million, down from $67.4 million in the first quarter 2008.

"End-market conditions, particularly in Europe and the automotive industry, continued to deteriorate sharply in the first quarter," Nolan Archibald, CEO, said. "As the global economy has contracted over the past year, we have intensified our efforts to reduce costs."

Sales in the Power Tools and Accessories segment decreased 23% for the quarter. In the U.S. Industrial Products Group, sales decreased 30% due to lower construction activity and retailer inventory reductions. Sales decreased at a mid single-digit rate in the …

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Reliance Steel Sales Fall 18% in 1Q

Free, Metals Service Centers, News, Subscriber Only, Top Distributor Sectors / MDM Staff

Reliance Steel & Aluminum Co., Los Angeles, CA, reported sales in the first quarter 2009 were $1.56 billion, down from $1.91 billion in the first quarter 2008. Profit was $20.1 million, down from $107.4 million in the prior-year period.

According to CEO David Hannah: "Our tons sold for the 2009 first quarter were down 1% and our average price per ton sold was down 16% compared to the 2008 first quarter. However, on a same-store basis, excluding our 2008 acquisitions, our tons sold were down 34% and our average price per ton sold was flat for the 2009 first quarter compared to the 2008 first quarter.

"Comparing our 2009 first quarter to the 2008 fourth quarter, our tons sold were down 14% and our average price per ton sold was down 15%. For the 2009 …

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Thomas & Betts Profit, Sales Drop In 1Q

Electrical, Free, News, Subscriber Only, Top Distributor Sectors / MDM Staff

Memphis, TN-based Thomas & Betts Corp. reported first quarter sales of $459.8 million, down 22.8% from first quarter 2008. Profit fell 31.9% to $26.1 million.

Weaker demand for electrical products used in construction, industrial maintenance and electrical power distribution were the primary drivers for lower sales.

As expected, the economy has proved to be our biggest challenge in 2009 and we have responded by adjusting production, reducing headcount, tightly managing costs and remaining intensely focused on effectively managing working capital, CEO Dominic J. Pileggi said.

First quarter 2009 total segment earnings declined 30.6% to $77.6 million as a result of lower sales volumes and unfavorable foreign currency. As a percent …

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Pushing Ahead With a Warehouse Management System

Free, Strategy, Subscriber Only, Technology / Lindsay Young

In a survey for our recent special report, "The State of the Distribution Software Industry," available here, we found that many distributors are continuing to invest in warehouse and inventory management software applications. Particularly now, when efficiency and cost reduction is key, distributors are growing smarter about where they invest to ensure they get a sufficient ROI in a time when ROI is an absolute must.

A recent article in Supply and Demand Chain Executive (sdcexec.com) looked at plumbing, HVAC and PVF distributor Bardon Supplies Limited’s decision to move forward with a WMS implementation in 2007; the new warehouse management system was finally in place earlier this year at one of the …

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Sudden Change Can Drive Insecurity in the Workplace

Free, Human Resources in Wholesale Distribution, Operations, Subscriber Only / Lindsay Young

HR consultant Nancye Combs told me recently that remaining employees actually go through the grieving process when co-workers are laid off unexpectedly. She says that sudden change can create insecurity and fear. Which is why it’s important to carefully plan layoffs and other cost-reduction driven changes, and to constantly communicate with those who are impacted, she says. The long-term viability of the business is at stake.

In the most recent issue of MDM, John Salveson of Salveson Stetson Group says that many companies have the attitude that those employees that remain "ought to be happy to have a job." But that’s a simplistic short-term mentality, he says. He says that many leaders are so relieved to get through layoffs …

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Snap-On Sales Decline 20.6% In 1Q

Building Materials/Construction, Free, News, Subscriber Only, Top Distributor Sectors / MDM Staff

Snap-on Inc., Kenosha, WI, a global manufacturer of tools, diagnostics, equipment, software and service solutions for professional users, reported sales of $572.6 million for the first quarter of 2009, down 20.6% from the prior year. Profit declined 38.5% to $34.8 million.

Commercial & Industrial Group segment sales were $259.8 million, down 27.2% from 2008 levels. Excluding $33.6 million of unfavorable currency translation, year-over-year sales declined 17.7% primarily due to continued lower sales of professional tools in Europe and decreased sales of equipment worldwide.

Snap-on Tools Group segment sales of $242.4 million in the quarter declined 16.2%; organic sales declined 10.7%.

Diagnostics & Information Group segment sales declined …

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Carlisle Companies Sales Fall 22% In 1Q

Free, News, Subscriber Only, Top Distributor Sectors / MDM Staff

Carlisle Companies Inc., Charlotte, NC, reported sales from continuing operations of $511.1 million for the quarter ended March 31, 2009, a 22% decline from the first quarter of 2008. Organic sales decreased by 25% from the prior year, with the largest declines in the Construction Materials and Transportation Products segments. Profit from continuing operations declined 65% to $10 million.

Consistent with our initial expectations for 2009, there was weak demand throughout nearly all of our markets in the first quarter. Fortunately, we anticipated the market decline and aggressively reduced costs, including a salary freeze for substantially all employees, David A. Roberts, president and CEO, said. “In addition, over the past twelve months, we reduced our …

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Pentair 1Q Sales Down 24%

Free, Gases & Welding Equipment, News, Subscriber Only, Top Distributor Sectors / MDM Staff

Pentair, Inc., Minneapolis, MN, reported sales of $634 million for the first quarter of 2009, a year-over-year decline of 24%. Profit for the term fell 61% to $17.3 million.

Most of our major markets were dismal throughout the first quarter as many of our customers retrenched in reaction to the global recession. Fortunately, our execution against our aggressive cost reduction plans is yielding solid benefits, said Randall J. Hogan, Pentair chairman and chief executive officer.

The Water Group reported $424 million in sales, a 22% percent decline year-over-year. Sales were down 21% excluding the formation of the Pentair Residential Filtration business with General Electric’s Water and Process Technologies unit.

Technical …

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AMETEK 1Q Sales Down 10%

Electrical, Free, News, Power Transmission/Motion Control/Fluid Power, Subscriber Only, Top Distributor Sectors / MDM Staff

AMETEK, Inc., Paoli, PA, reported sales of $552.9 million for the first quarter 2009, down 10% over the same period of 2008. Profit declined 11% to $59.1 million.

For the 2009 first quarter, EIG segment sales decreased 11% to $302.5 million. Operating income was $69.1 million, compared with $79.2 million in the first quarter of 2008, a decrease of 13%. Declines were driven primarily by weakness in the Process and Industrial businesses.

EMG segment sales for the first quarter were $250.4 million, an 8% decrease over the same period of 2008. Operating income of $46.2 million was down 2%.

AMETEK is a global manufacturer of electronic instruments and electromechanical devices. …

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Slightly Down is the New Up

Economic Trends, Free, Research & Analytics, Subscriber Only, Top Distributor Sectors / Tom Gale

The Industrial Supply Association Conference & Trade Fair took place earlier this week. I moderated a panel session, The View from Wall Street on Industrial Markets, with Walter Liptak, security analyst for Barrington Research Associates, Chicago, IL, and Holden Lewis, Industrial Equipment Analyst for BB&T Capital Markets Equity Research, Richmond, VA. They gave the industry insiders in that room (standing room only) a view from the investment side on strengths, weaknesses and trends.
Sometimes the truth hurts, and their analysis of a range of macro trends, end-use markets and outlook for the near-term was not pretty. That said, some of the data gave a glimmer of hope on top of the recent positive signs that we could near the bottom of this cycle and see a …

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Grainger Hosting Green Events For Earth Day

Companies, Facilities Maintenance (MRO), Free, News, Subscriber Only, Top Distributor Sectors / MDM Staff

Grainger, Lake Forest, IL, a distributor of facilities maintenance supplies, will host green educational events to honor Earth Day in 25 markets across the country focused on helping businesses and institutions garner the knowledge and tools needed to maintain and operate more sustainable and energy-efficient facilities. The educational events are in conjunction with the launch of an online green product catalog that provides customers easy access to more than 3,300 environmentally responsible products.

“Businesses are looking to navigate the many definitions of “green” to ultimately find ways to maintain and operate their facilities more efficiently and cost-effectively, without taxing our environmental resources,” said Deb Oler, …

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SKF Sales Fall 4.8% In 1Q

Free, News, Power Transmission/Motion Control/Fluid Power, Subscriber Only, Top Distributor Sectors / MDM Staff

Swedish manufacturer SKF reported sales declined 4.8% to SEK 14.8 billion (US$1.7 billion) in the first quarter of 2009. Profit fell 69.6% to SEK 394 million (US$46.2 million).

We saw a very significant drop in our sales volumes in the first quarter and reduced our manufacturing level even more, said Tom Johnstone, president and CEO. “Looking at the second quarter we expect to see a similar level of decline in volume year on year as we saw in the first quarter. However, we can see that the speed of decline sequentially is reducing which indicates that demand may be leveling out".

The decrease of 4.8% in net sales for the quarter, in SEK, was attributable to: volume -26.9%, structure 1.4%, price/mix 7.1% and currency effects …

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Crane Co. 1Q Sales Fall 18%

Electrical, Free, News, Power Transmission/Motion Control/Fluid Power, Subscriber Only, Top Distributor Sectors / MDM Staff

Diversified manufacturer Crane Co., Stamford, CT, reported first quarter sales of $555.1 million, down 18% from the first quarter of 2008. Profit declined 51.8% to $23.3 million.

First quarter 2009 sales decreased $123.7 million, or 18%, including a core business decline of $107.8 million (16%) and unfavorable foreign currency translation of $49.3 million (7%), partially offset by an increase in sales from acquired businesses of $33.3 million (5%).

While our sales and earnings declined significantly from our record first quarter 2008 results, our earnings were in line with our expectations, said Eric C. Fast, president and CEO.

Excluding two acquisitions in 2008, headcount has been reduced by 1,600 people, or 13%, since year end …

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Alfa Laval Sales Decline 10%

Free, News, Power Transmission/Motion Control/Fluid Power, Subscriber Only, Top Distributor Sectors / MDM Staff

Sweden-based Alfa Laval reported sales increased 10% to SEK 6.9 billion (US$809 million) in the first quarter 2009. In constant dollars, sales decline 4.8%. After taxes, profit was SEK 764 million (US$89.7 million).

Acquisitions completed during the first quarter are expected to contribute SEK 600 million to annual sales.

Second quarter demand is anticipated to be in line with or somewhat lower than the first quarter 2009. …

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Flowserve Buys Swiss Manufacturer

Free, News, Power Transmission/Motion Control/Fluid Power, Subscriber Only, Top Distributor Sectors / MDM Staff

Flowserve Corp., Dallas, TX , a provider of flow control products and services for the global infrastructure markets, has acquired privately owned CALDER AG, a Swiss Company, to expand the products and advanced technologies it offers to the growing global desalination markets. Terms of the transaction were not disclosed.

CALDER AG specializes in the design, engineering and supply of energy-recovery equipment and related proprietary technologies for the reverse osmosis process used in desalination plants. Energy-recovery equipment is critical technology within reverse osmosis that captures and reuses waste energy, which significantly lowers net energy consumption.

Global water desalination needs are growing very rapidly due to the demands of continued …

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Eaton Sales Down 20% In 1Q

Electrical, Free, News, Power Transmission/Motion Control/Fluid Power, Subscriber Only, Top Distributor Sectors / MDM Staff

Diversified industrial manufacturer Eaton Corp., Cleveland, OH, first quarter were $2.8 billion, 20% below the same period in 2008. The company recorded a loss of $50 million for the quarter.

Our first quarter results reflect the impact of the severe downturn in many of our end markets and the expenses associated with personnel reductions made in the first quarter, CEO Alexander M. Cutler said. “Weaker than expected markets were partially offset by lower than originally anticipated severance expense. The lower severance expense was primarily due to the length of time it has taken to conclude severance plans in several countries.”

Sales for the Electrical Americas segment were $859 million, down 6% from 2008. Excluding acquisition …

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Goal-Setting for Salespeople

No-Excuses Selling in a Recession

3M Sales Fall 21.3% in 1Q

Applied Industrial Sales Down 14.8% in 3Q

Black & Decker Sales Down 28% in 1Q

Reliance Steel Sales Fall 18% in 1Q

Thomas & Betts Profit, Sales Drop In 1Q

Pushing Ahead With a Warehouse Management System

Sudden Change Can Drive Insecurity in the Workplace

Snap-On Sales Decline 20.6% In 1Q

Carlisle Companies Sales Fall 22% In 1Q

Pentair 1Q Sales Down 24%

AMETEK 1Q Sales Down 10%

Slightly Down is the New Up

Grainger Hosting Green Events For Earth Day

SKF Sales Fall 4.8% In 1Q

Crane Co. 1Q Sales Fall 18%

Alfa Laval Sales Decline 10%

Flowserve Buys Swiss Manufacturer

Eaton Sales Down 20% In 1Q

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