
Creative Leisure News
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Date: June 23, 2003
Vol. VII, No. 12
Printer
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TABLE OF CONTENTS
COMMENTARY: SUCCESS STORIES
I'm hearing very positive reports from vendors who attended Jo-Ann's
controversial vendor meeting/anniversary party held recently in
Cleveland. "It was the best chain presentation I've ever
seen," said one vendor, "and I've been to a lot of
them."
The presentation included a history of the company. A few years ago
at a dinner with CEO Alan Rosskamm and others, Alan told us how the
two founding families actually started with a small cheese shop in
Cleveland.
The Jo-Ann's story fits with so many American success stories. Frank's
Nursery & Crafts started with a guy named Frank and his
pushcart selling flowers. The founders of Michaels and Wal-Mart
started as Ben Franklin retailers. Jack Parker started with one A.C.
Moore store. The big guys weren't always big guys; they started
just like the rest of us.
It's not just retailers. One vendor (who would kill me if I
mentioned her name) used to be afraid retailers wouldn't order from
her if they knew how small her operation was. So she'd answer the
phone like a switchboard operator. "Just a moment; I'll connect
you with our sales department." Then she'd put her hand over
the mouthpiece for a moment, then, using a different voice, would
say, "Sales department. May I help you?" Today, no one
would worry that her operation was too small.
For every small retailer and vendor, the point is this: EVERYONE
started small.
MICHAELS OPENS THE FIRST
RECOLLECTIONS STORE
Apparently the company is not superstitious. Michaels opened
its first all-scrapbook store, ReCollections, last Friday the
13th in Frisco, TX.
The opening included a ribbon-cutting ceremony and a variety of
special events, including appearances and class instruction by Sandi
Genovese, host of DIYScrapbooking on the DIY Network and
Creative Director for Ellison, and Anna Griffin, owner and
designer of Anna Griffin Designs. Also appearing in June are
Tracy White, Editor of Creating Keepsakes; Renae Lindgren and
Sharon Soneff, designers featured by Creative Imaginations;
and Stephanie Rahmutalla, owner of Me and My Big Ideas.
The store is 6,400 sq. ft. with obviously a much broader assortment
of scrapbooking products than a typical Michaels store. There are
approximately 10,000 SKU's, including items of local interest such
as school and team logos and colors. The store also features two
large classrooms and an on-going open crop area.
Officials claim customers will receive in-depth, one-on-one service
from employees, all of whom are experienced scrapbookers. They also
promise the store will provide hourly demonstrations of new products
and techniques and a cutting-edge technical support center for
cropping, journaling, and reproductions.
Sam Crowley, Sr. VP of New Ventures said, "We believe ReCollections
stores will prove to be a great concept. With the robust growth of
the category, there is a large segment of scrapbookers who want more
rapidly changing assortments, more personalized service, and broader
selections than a traditional craft store provides.
"More importantly, however, scrapbookers seek the fun and
social interaction that comes from participating in their unique
craft," Crowley added. "As the world's leading retailer of
arts and crafts merchandise, this venture is a natural fit given our
expertise in memory preservation, and we're looking forward to
developing long-term success and partnerships within the
scrapbooking community."
NEW ARTICLES THIS ISSUE
Below is a list of new columns added since our last issue. To read
them, just click on the appropriate spot in the left-hand column.
Designing Perspectives. Noted designers/trend watchers Tracia
Williams and Lynda Musante introduce their column and the latest
fashion/home dec trend.
Legal Q.'s & A.'s. Have legal questions about business?
This lawyer will answer them. The first column is devoted to the
question of how much a product must be changed in order to avoid a
trademark or copyright infringement lawsuit. The answer may surprise
you.
Kate's Collage. What happens to a company's reputation when
the quality of the pieces in a craft kit don't match the bright,
attractive box?
Plus reader comments on previous columns in the Memory, Paper
& Stamps and "Vinny Da Vendor" sections.
WAL-MART'S GROWTH PLANS
Apparently Wal-Mart's not big enough? Next year the
discounter plans to open another 278 new stores in the U.S. -- and
113 international outlets. Over the next five years, the retailer
plans to hire another 800,000 people, including 120,000 managers,
reports Chain Store Age. Meanwhile, DSNRetailing Today
estimates the discounter will grow from sales of $229.6 billion in
2002 to $370.6 billion in 2007.
DSN's annual Wal-Mart issue (June 9) did include a fly in the
ointment, however. A DSN survey of 12 stores checked the
availability of products highlighted in an ad circular. Wal-Mart
scored 77%, substantially down from the 91% score in a comparable
test in March, and even 1% lower than a Kmart test when Kmart was
still in bankruptcy.
Highlights of the issue's craft division article: Sales are
estimated at $2+ billion a year, although Wal-Mart won't divulge
sales of specific categories ... Every time Wal-Mart has tried to
drastically decrease or eliminate sewing or crafts, customer
complaints stop it. The category's growth reflects the industry's
growth since 9/11 ... The strategy seems to be cherry-picking lines
for the best sellers ... The article cited a 2002 HIA study
that showed 27% of those surveyed bought supplies in discount
stores; that's up from the 24% in the 2001 study. Craft chains only
scored 20% in the 2002 study.
RETAILERS & DEBIT CARDS:
CHANGES LOOMING
A New York judge granted preliminary approval to the combined $3
billion settlements that Visa and MasterCard reached with a group of
retailers led by Wal-Mart. Under the agreements, Visa will
pay $200 million per year for 10 years and MasterCard will pay $100
million a year for 10 years. Both must pay $25 million to retailers
by 2004 and lower their debit fees. A hearing on the final approval
of the settlement is scheduled for Sept. 25.
The retailers had argued that Visa and MasterCard rules requiring
merchants to accept their signature-verified debit cards imposed
higher costs. Visa and MasterCard offered the settlement just before
the case was to go to court early last year.
Meanwhile, Michaels has rolled out VeriFone's EverestPlus
Solution to all of its 775 stores, and this online, PIN-based debit
system now accounts for approximately 18% of Michaels in-store
transactions, which officials say lowers operating costs regarding
payment acceptance.
CRAFTS & INTERNET
"RADIO"
There's a new element to using the Internet to market yourself or
your company, or enhancing your website: on-demand radio. It's radio
that can be listened to, at any time, via most computers. The
listener needs special software, but that's available for
downloading, free, at the site. And the program is archived, so if
you can't listen to the live broadcast, you can listen when you want
to. (That's similar to the archive for CLN. If you missed an
issue, you can always read -- or re-read -- it anytime.)
Thus far, the most common use of this technology has been the chain
stores broadcasting and archiving their conference calls with stock
market analysts -- but that's changing fast.
Artist/author Tera Leigh will begin a new online radio show entitled
"The Creative Life", interviewing artists, authors,
editors, etc. Guests include Priscilla Hauser, Lin Wellford,
Julianna Hudgins, Kathy Peterson, Maureen Carlson, and others. It
will air live twice a month and be archived thereafter. It will be
available at www.ladybuglive.com
and linked from Tera's site www.teraleigh.com.
Tera, the author of How to be Creative if You Never Thought You
Could, was already interviewed on Entrepreneur magazine's
radio show on wsradio.com. (http://wsradio.com/entrepreneurshow).
A needlework radio channel is in the works, too. CLN will
report on it as soon as it's officially announced.
Retailers and designers could add a vocal greeting to their sites,
vendors could interview name designers who use their products --
there are lots of possibilities.
MAY SALES: SO SO
The national post-war economy should be picking up -- at least Wall
Street thinks so. But that's not necessarily showing up yet in
retail sales figures.
Michaels same-store sales for May rose only 1% -- but the
company had expected sales to be flat. Spring seasonal, crafts,
books, framing, and ribbon were cited as strong performers. The
number of transactions increased 4% and the average ticket increased
1%.
Hancock reported the best same-store increase of all the
industry-related public retailers: 5.1%. Jo-Ann's figure was
2.3%.
Wal-Mart said same-store sales rose 2.1%. Duckwall-ALCO's
same-store sales declined 1.1%. Crafts was not cited as a strong
seller, but it wasn't listed as a disappointment, either. Positive
increases were posted by Costco, Nordstrom, JCPenney, and Target,
but Sears, Federated, Kohl's, and Saks reported declining same-store
sales.
NEW ACCI EXHIBITORS, PT. II
(Note: The following is the second installment in our series
of new exhibitors at the ACCI show. For buyers who want to do some
advance work for the show, here are names, booth numbers, brief
descriptions, and links to the companies' websites. The remainder of
the new exhibitors will be highlighted in our next two issues.)
Idea Tool Box. #8816. Designer Shaker boxes (Shaker Shapes)
and designer brads (Toggles and Mini Toggles). www.ideatoolbox.com.
Impression Obsession. #8116. Stamps, cardstock, accessories,
and templates. www.impression-obsession.com.
Impressionables. #8301. Blank card stock, scrapbooks,
journals, note cubes, padfolios, notepads, calendars, etc. www.impressionables.net.
In The Attic. #7504. Round knitting looms in four sizes. www.knittinglooms.com
Itoya of America. #8011. Pens, organizers, storage products. www.itoya.com.
Jokari/US. #8104. Storage solutions and organizers. www.jokari.com.
Judikins. #8501. Wide variety of rubber stamps. www.judikins.com.
Kandi Corp. #8217. Swarovski iron-on Austrian
crystals, pearls, nailheads, rhinestuds, a crystal and pearl
applicator wand -- the Kandi Kane. www.kandicorp.com.
KI Memories. #8316. Scrapbook supplies. www.kimemories.com.
Kinetic Scrapbooking. #8409. Products that make scrapbook pages
move! www.kineticscrapbooking.com.
Kreinik Manufacturing. #5112. One of the industry's leading
needlework thread companies. www.kreinik.com.
Magnolia Memories. #8020. Paper piecing patterns, charms, jewels,
fibers, etc. www.magnoliamemories.com.
Make An Impression. #8018. Rubber stamp images that reflect the
uniqueness of the Northwest. www.makeanimpression.net.
Mango Moon. #8100. Recycled silk, batik ribbon, multi-color silk
yarn is made from recycled silk saris. The company is connected with
helping underprivileged women of Nepal, many of whom are refugees
from Tibet. www.mangomoonknits.com.
Martelli Ent. #7907. Sewing notions and tools. www.martelli-enterprises.com
Match'em Ups. #7701. Scrapbook stitckers and papers. www.matchemups.com.
Material Concepts. #8311. Lilsmacker tools -- eyelet tools for
scrapbooking. www.lilsmacker.com.
Maude Asbury. #7920. Scrapbook albums and accessories. www.maudeasbury.com.
Memories Complete. #8812. Scrapbook backgrounds, quotes, and
stickers. www.memoriescomplete.com.
Memories in Uniform. #8921. Military-themed scrapbook supplies. www.memoriesinuniform.com.
The Memory Group. #7606. It strives to help independent member
stores succeed by providing group buying advantages, services,
education and a retail community. www.memorygroupllc.com.
Memory Melodies. #8108. Products to make scrapbooks sing! www.memorymelodies.com.
Metropolis Paper Int'l. #4245. Embossed papers. www.evergreen-metropolis.com.
MyPokkets. #8205. Pokket Frames are thin; stick to any
surface; can be easily moved; won't damage a surface; have a clear,
protective window; and fit in most greeting cards. www.mypokkets.com.
Page Additions. #7612. Products to add motion to scrapbooks. www.pageadditions.com.
Paper Loft. #8417. Printed background papers. www.paperloft.com.
PartNET. #8512. Software to establish end-to-end connections with
any trading partner using standards-based protocols -- i.e., supply
chain solutions. www.partnet.com.
Persnippity. #5212. Vellum ink drops, cut-outs, and other products
including poetry, quotes, tags, and images printed on 8 1/2" x
11" vellum. www.persnippity.com/pages/741990/index.htm.
BOOK REVIEW: A SCRAPBOOK MURDER
Last week I read Keepsake Crimes, a paperback mystery written
by Laura Childs and published by Berkley. To my knowledge it's the
first mystery set in a scrapbook store.
Mystery lovers may enjoy the book, provided they don't know anything
about retail. The setting -- New Orleans during Mardi Gras -- is
interesting and the plot is ok. It's a good thing the heroine,
storeowner Carmella Bertrand, is a good detective, because she's
going to go broke running her store.
The store is on the edge of the French Quarter, so the rent must be
enormous. Carmella seems to have about five customers a day. She
closes on weekends. She buys lunch for the customers who are working
on their scrapbooks through the noon hour.
The publisher says it's the first in a series, but I think Carmella
better stick to detecting instead of retailing. Still, it's a sign
of the category's growth that a major publisher thinks it would be
profitable to publish a series set in a scrapbook store.
CLN'S ONLINE PRODUCT PREVIEW
The next issue of CLN, online July 7, will be exhibitors'
last chance to publicize their products before the ACCI show. For
info on how and where to send material for CLN's "New
Product" section, email mike@clnonline.com
or call 309-925-5593.
RANDOM NOTES, RANDOM THOUGHTS
1. A sign of the times: A while back Discount Store News
magazine changed its name to DSNRetailing Today. The change
was probably made because a) the constant sales by department
stores and big-box retailers makes it more difficult to distinguish
between a discounter and a traditional retailer, and b) the
number of "discount" retailers (Ames, Jamesway, Bradlee's,
Venture, etc.) has declined so drastically, there weren't that many
chains left for the magazine to cover. Even DSN can't write
about Wal-Mart ALL the time.
2. The Martha Stewart mess is a good example of what can happen when
an entire company is built around one person. Many of our industry's
companies -- independent stores, too -- are that way, and that's
fine as long as that person stays healthy and out of trouble.
A problem eventually arises, though: how do you sell such a company
if the owner isn't willing to go along and work for the buyer? In
that case, what is the buyer buying?
The only answer I can think of, is for the owner to take on an
assistant years before he/she is ready to retire and sell the
company. Then the owner teaches the business to the assistant and
slowly builds up the assistant's reputation in the industry. Then,
eventually, the owner can sell the business or slowly fade away
without the business suffering.
MISCELLANEOUS NEWS
ACCI. Pre-registration for the July 18-20 show closes TODAY at 4:30
EDT. Sixteen classes are already sold out. Current stats: 557
exhibitors in 1240 booths. That's an increase of 14.6% in exhibitors
and 16.1% in booths. There are 170 new exhibitors, up a whopping
70%. Registration is up about 8%. Look for attendance by the press
to be up, too. ACCI has sent invitations to the show to 3,000+ daily
and weekly newspapers. Don't forget business guru Doug Hall's Brain
Brew Theater session. Retailers will be bringing their problems
to stage and Doug and his assistant will offer a portfolio of
solutions. Call 888-360-2224 or 740-452-4541; email acci.info@offinger.com,
or visit www.accicrafts.org.
BAR CODES. The U.S. Uniform Code Council, a bar-code governing body,
developed Sunrise 2005, which requires retailers to be able
to handle bar codes with up to 14 digits by Jan. 1, 2005. The
current system is 12 digits and is getting filled up, like telephone
area codes, Reuters reported. North America is the only area that is
not already compliant with Sunrise 2005.
ACQUISITION. Duncan Ent. has acquired all of PSX, a rubber stamping
and paper manufacturer formerly known as Personal Stamp Exchange. In
March, 2002 Duncan had purchased a 50% share in PSX. PSX will remain
a separate business line at its offices in Santa Rosa, led by
President Jim Doty, VP/Creative Jeannene Chase Langford, and
VP/Sales Deborah Wandner. Sometime this summer, all orders will be
shipped from Duncan's facility in Fresno.
STOCK. Zacks, the stock analysis firm, recommended investors buy
Michaels stock and sell Martha Stewart ... Adams Harkness & Hill
initiated coverage of Hancock with a Strong Buy rating.
SARS. The World Health Organization declared that SARS has been
"stopped dead in its tracks," Reuters reported. The WHO
lifted its warning to avoid travel to Taiwan, but has kept the
warning in effect for Beijing.
AWARD. The Paper Company won Jo-Ann's Vendor of the Year award.
REMINDER. July 7 is the deadline for submitting Supershop
proposals for the HIA show in Feb. in Dallas. For info call Laura
Herrera at 201-794-1133 or email lherrera@hobby.org.
FRANKS. For the quarter ended May 18, income was $1.0 million versus
a prior year loss of $25.6 million before reorganization items.
Sales were $116.7 million, up 5.1%. Expenses as a % of sales dropped
to 27% from 28.4%. The current store count is 170 stores in 14
states.
COMPANY FOR SALE. Profitable craft manufacturer with annual sales of
$10+ million and a strong presence in the major chains. Southeast
location. Management in place. Final offers subject to financing
will not be considered. Talk to Mike Hartnett in complete confidence
for more info. 309-925-5593; mike@clnonline.com.
ELECTION. The deadline for nominating yourself or someone else to
serve a three-year term on the ACCI board is July 1. Obtain a
nominating form by calling or emailing Mark Bennett -- mbennett@offinger.com,
740-452-4541, ext. 3187.
WINNERS. Of the Tara/Fredrix Canvas 2003 ACCI Art of Collage
Contest: 1st Place, Andrea Rothenberg ... 2nd Place, Madeline
Arendt ... 3rd Place, Tracia Williams, Tracia & Co. ...
Honorable Mention: Rebekah Meier. The winning entries will be on
display at Tara's ACCI booth, #517. (Note: Tracia is the
co-author of CLN's Designing Perspectives column. Just
click on the appropriate line on the left-hand column.)
DIVIDENDS. Here's a result of the recent tax code changes: For the
first time Michaels is declaring a quarterly cash dividend of
$0.10/share, payable July 30 to shareholders of record July 15. The
company approved the repurchase of up to one million additional
shares of its common stock, bringing the total shares authorized for
repurchase to 1.6 million. Since June 1998, Michaels has repurchased
approximately 14.7 million of its shares and currently has 66.6
million shares outstanding ... Hancock, which has been paying
dividends for years, declared a dividend of $0.10/share payable July
15 to shareholders of record July 1.
COMPANY LOOKING. Pumpkin Masters needs a national sales manager to
oversee sales department and rep groups. Reports directly to the
CEO. Fax resumes/salary requirements to 303-860-9826 or email gburke@pumpkinmasters.com,
ATTN: Gay. No phone calls.
ACCI. The second issue of ACCI's newsletter, News and Views,
is now online at www.accicrafts.org.
It includes interviews with buyers talking about what they want --
and don't want -- from exhibitors, and magazine editors talking
about trends.
HANCOCK. Reported that the insurance carrier/administrator for the
company's self-insured workers' comp policy failed to bill Hancock
fully for various claims going back to 1993. Consequently, Hancock
revised its results to reflect the additional liability -- $938,000
after tax over the entire decade. Officials anticipate the
adjustment to net income in any one year will not exceed
$0.01/share, and will be reported to the SEC. CEO Larry Kirk said,
"Over the years, our company has been very sensitive to the
accuracy and clarity of our financial reports. We acted on the issue
as soon as it was confirmed by recording the liability in the
affected periods."
MAGAZINES. The premier issue of Scrap & Stamp Arts, the
new, 8-times/year magazine from Scott Publications, goes on sale
next month. Projected distribution is 50,000 through retail stores,
newsstands, and subscriptions. Single copy, $5.99; year's
subscription, $29.90. It's an outgrowth of the former Stamping
Arts & Crafts magazine. Call 231-733-9382; visit www.scrapandstamparts.com.
MAGAZINES. In its June 23 issue, Business Week described how
successful Meredith has been since 9/11, and gave as an example the
success of its Scrapbooks, Etc., which is published by its
Better Homes & Gardens Craft Division. Revenues for the company
are expected to surpass $1 billion this year.
STORES. Now Wal-Mart is testing mall stores. The discounter opened
its first in a Massapequa, NY mall -- about 30 miles east of
Manhattan.
JO-ANN'S. Kids In Need teacher grant applications will be
available in stores from early August until September 30. The
program, an initiative of the School, Home, & Office Products
Association (SHOPA) Foundation for Educational Excellence, provides
funding of $100 to $500 for innovative classroom projects.
CROCHET. The Crochet Guild of America will celebrate its 10th
anniversary with its annual Chain Link conference,
"Sweet Home Chicago," July 24-27 in Rosemont (Chicago),
Ill. CGOA now has 2,000+ members. Jean Williams Cacicedo, a founding
member of the art-to-wear movement, is the keynote speaker. For
info, visit www.crochet.org or
call 877-852-9190.
ARTISAN CRAFTS. The direct impact of sales from handmade crafts on
the national economy is $14 billion, according to a survey conducted
by the Craft Organization Development Assn. Visit www.contemporarycraft.org/CODA_press.html.
EMAIL. "Regarding the sewing/craft shows on PBS: Yes, do call
your local PBS station for the program (it is effective), but ask to
speak to the program director and give him the correct name of the
show, and who produces it." Sharon Dugas, Papier Dreams (who is
married to a former PBS affiliate program director).
TV. A recent Oprah show features scrapbooking and Sakura
contributed Gelly Roll Stardust and Pigma Micron 05
pens for the audience gift baskets.
TV. The third series of Scrapbook Memories, hosted by Beth
Madland, Julie McGuffee, and Michele Gerbrandt, uplinks July 20.
Call your PBS station and ask for it. (The producer is Katherine
Stull of KS, Inc.). Sponsors are Fiskars, Epson, Memory Makers, Hot
Off The Press, Craf-T Products, Mag Time Frames, and Rollabind.
SCRAP SHOWS. Retailers attending the Memories Expo in Orlando
Oct. 9-12 will have cash-and-carry, wholesale-only shopping hours
Oct. 9 (5-8 pm) and special retailer classes, one sponsored by CNA
and the other taught by scrapbook guru Sue DiFranco. For info, visit
www.memoriesexpo.com or
call 740-452-4541.
EMAIL. "To add to your comments in "Random Notes, Random
Thoughts" about companies getting by without visiting the
Orient, the Wall Street Journal (5/28) reported on Wal-Mart
adjusting their overseas buying sessions. Although it is important
to visit factories and showrooms for face-to-face meetings,
videoconferencing, email, and digital photography may cut down on
some of those trips." -- Elaine Schmidt, Elaine Schmidt Designs
BUSINESS PROFILES: COLORBOK
Colorbok was co-founded in 1984 by Bill Taylor in Dexter, MI. The
goal at its inception was to provide superior stationery products to
the gift and stationery market. Initial success with the die cut
"alpha note" led to several other die cut notepaper
products and the beginning of Colorbok's stationery division. During
the mid-1990's, scrapbook retailers began selling the Colorbok die
cuts to scrapbook hobbyists; their success helped launch Colorbok
into the scrapbook industry.
Market research led to Colorbok's first truly scrapbook-focused line
under the name Remember When in 1997. The offering, composed
of papers, stickers, and scrapbook kits, quickly became a success
and put Colorbok firmly in the scrapbook business.
In 1999, Colorbok added coordinated programs comprised of albums,
stickers and papers, believing that these well-planned displays
would lead to increased retail sales. Colorbok also added programs
designed by well known artists such as Susan Branch & Joy Marie.
The dramatic impact of these coordinated programs led to success for
Colorbok's retailers and dramatic growth from 1999 to the present.
Since 1999 Colorbok has brought over 20 coordinated programs to
market, along with numerous other scrapbook products. Colorbok is
committed to being a leader in the scrapbook industry through
excellence in design, product quality and innovation. The plan is to
always have the newest concepts along with strong basic products.
Retailer partnership programs have played another key role in the
company's growth. Colorbok offers a Premier Dealer program,
founded on the notion that loyal customers should be offered
benefits for repeat business. The program is designed to offer
retailers substantial merchandising assistance, special terms, and
other advantages.
Innovative ideas, high quality products at great prices, drive and
determination have led Colorbok to its leadership position within
the scrapbooking industry.
Colorbok¼providing creative products for creative minds.
Key Execs: Bill Taylor, President; Jerry Poffel, National Sales
Manager; Phyllis Hoover, VP of Product Development.
Rolodex: Colorbok, 2716 Baker Rd, Dexter, MI 48130. Call
800-366-4660; fax 734-426-2520; email info@Colorbok.com;
or visit www.colorbok.com.
Note: To learn more about how your company can be profiled in CLN,
call Mike Hartnett at 309-925-5593 or email mike@clnonline.com.
To read other profiles, click "Business Profile Archives"
in the right-hand column. Profiles remain in the Archives for one
year; each time a profiled company is mentioned in a subsequent
issue, it will be linked to the profile.
THE CREATIVE NETWORK: JOB OPENINGS
To see a sampling of the current job openings and to contact The
Creative Network, click on the "Jobs" line in the
right-hand column.
THE CLN RETAIL INDEX
A. C. Moore (ACMR). Last*: 19.82 ... Change**: +2.78
Hancock Fabrics (HKF). Last*: 16.00 ... Change**: +1.52
Jo-Ann Stores (JAS.A) [a]. Last*: 24.57 ... Change**: +1.85
Michaels (MIK). Last*: 38.65 ... Change**: +1.04
Rag Shops (RAGS). Last*: 3.10 ... Change**: -0.34
Wal-Mart (WMT). Last*: 54.26 ... Change**: +1.65
CLN Retail Index. Last*: 100.50 ... Change**: +5.7%
Dow Jones Index. Last*: 9,200.75 ... Change**: +4.0%
*June 20 ** from May 30 [a] voting share Prices are exclusive of
dividends
CAN YOU PASS THIS TEST?
(Note: The following, which is making the rounds on the
Internet, is a conundrum that reportedly was part of a job
application. See if you can get the right answer -- and get the
job.) A man is driving in his two-seater car on a wild, stormy
night. When he passes a bus stop, he sees three people waiting for
the bus: 1. An old lady who looks as if she is about to die; 2. An
old friend who once saved the man's life; 3. The perfect woman he
has been dreaming about.
Knowing there could only be one passenger in the car, which one
should the man offer a ride to? The driver could pick up the old
lady, because she is going to die, and thus he should save her
first; or he could take the old friend because the friend once saved
his life, and this would be the perfect chance to pay him/her back;
however, he may never be able to find his perfect dream lover again.
Which alternative would you choose?
The candidate who was hired (out of 200 applicants) quickly
answered, "I would give the car keys to my old friend and let
him take the lady to the hospital. I would stay behind and wait for
the bus with the woman of my dreams."
REMINDERS
1. For more information on how your business can be the subject of a
"Business Profile" or have products/photos included in the
"CLN's Online Product Preview, call Mike Hartnett at 309-925-5593 or email mike@clnonline.com.
2. Paid subscribers are invited to have their website evaluated by
Lynn Carlisle of Carlisle Communications. She'll check the site and
provide a confidential assessment and suggestions for improvement.
Just email mike@clnonline.com
or ljc@carlislecommunications.com.
3. If you want a hard-copy of this issue, click on "Printer
Friendly version".
4. If your company is a paid subscriber, everyone in the main office
is welcome to register, free. Just click on "Current
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5. If you want to recommend CLN to a friend, use the
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