COMMENTARY: TRADE SHOW
PRODUCTS -- AND GOSSIP
The primary purpose of a trade show is presentation of products,
but the recent CHA Summer Show seemed to have more attention paid to
three non-product issues: 1. Wal-Mart dropping stitchery. 2.
The PMA/CHA Winter Show situation. 3. The acquisition of
Wilton and Dimensions. No matter what your business is, no matter
what category you're in, these issues affect us all and seemed to
overshadow the usual talk about exciting new products.
NEW COLUMNS THIS ISSUE
Business-Wise.
CLN's series on the major influences of the past decade
continues with Part II, the decade's most influential person:
Michael Rouleau, former CEO of Michaels.
Scene & Heard.
Design-product development pro Ellie Joos details what she liked
as she walked the CHA Summer Show.
Newsbriefs.
The 7/17 email reporting on Wal-Mart dropping stitchery
... The 7/24 email reporting on the acquisition of Wilton and
Dimensions by GTCR Golder Rauner.
Note: To read the columns, click on the titles in the
left-hand column. If it appears to be an "old" column,
click on the "Refresh" or "Reload" button on
your browser.
TAKE THE CLN POLL:
WAL-MART AND NEEDLEWORK
Wal-Mart announced it was getting out of the stitchery business.
(To read CLN's initial report on the subject, click on
Newsbriefs in the left-hand column.) What effect will that have on
the industry? It should help Wal-Mart's competitors, but the market
may be flooded for a while with kits that were produced for
Wal-Mart. What do you think? To vote, click on Industry Polls in the
right-hand column or click HERE.
CLN
POLL: THE STATE OF
SCRAPBOOKING
Scrapbooking spread from the Northwest until it became a
national, dominant trend. But what's the situation now? CLN asked
readers about the strength of scrapbooking in their local area, and
the answers in this unscientific poll are almost even: 13.3% said
scrapbooking is still showing substantial growth, while 15.6% think
it's declining substantially. Almost a quarter, 24.4%, say it's
still growing slightly, while 26.7% see a slight decline. One fifth,
20.0% think it's flat.
UPDATE ON THE WILTON,
DIMENSIONS SALE
The deals are done, but not necessarily as reported earlier. GTCR
Golder Rauner announced it has completed its acquisitions of Wilton
Industries and Dimensions through its previous
acquisition, EK Success. The combined companies will be named
Wilton Products and be headquartered in Woodridge, IL.
However, the New York Post reported Martha Stewart
Living Omnimedia also invested – $10 million in return for an
11% stake in the three-legged organization.
"I'm enormously proud of our Martha Stewart Crafts line
and delighted with the response to it," Martha said. "I'm
looking forward to working with Wilton, which represents a
tremendous number of opportunities in baking, cake decorating and
crafts.".
An unnamed source told the Post Martha's company believes
the craft industry's "fractionalized nature" gives it a
chance to be a dominant player.
According to TheDeal.com, a trade publication for the
mergers/acquisitions industry, GTCR sponsored a $1 billion
recapitalization of EK Success to finance the acquisitions. GTCR
will invest about $200 million from its eighth equity fund and will
raise about $850 million through UBS and Deutsche Bank.
The newly-formed company will be led by industry veteran and
existing Wilton President/COO Steven Fraser, who will oversee the
combined businesses as Chair/CEO. "On behalf of the management
team, we are very excited to partner with GTCR to build the new
Wilton Products into the largest and most diversified player in the
crafts industry," stated Fraser. "By leveraging Wilton’s
legendary brand status and the direct synergies between EK Success
and Dimensions, our new company will be poised for unprecedented
growth opportunities."
"EK Success’ demonstrated track record of creativity and
product innovation has made it the leading player in the
industry," added GTCR Principal Vince Hemmer. "The
company's next phase as the new Wilton Products ensures that it will
continue to build on its strong presence in paper crafting products,
and continue as the leader in baking and cake decorating products as
well." Hemmer added, "We are thrilled about the
opportunity to work with Steve and his team. He is a superior
executive with a proven track record for excellence and fits well
with GTCR’s strategy of partnering with exceptional management
teams."
GTCR bought EK Success in 2005 for about $200 million. Soon after
the acquisition, EK announced it would produce a Martha Stewart
Crafts line for Michaels and later for independents.
As the industry's dominant cake decorating company, Wilton will
cost EK $700+ million. The company also manufactures scrapbook
products under the Just Jinger label, teakettles and
housewares under the Copco brand, and picture frames with the
Weston Gallery label. The company generates about $300
million in annual revenue.
The price tag for Dimensions was $100+ million, according to
TheDeal.com. Dimensions is a major producer of stitchery kits and in
recent years has expanded its offerings to include paint-by-number
kits, kids' beading under the Perler brand, and other products, and
the acquisition of the Inkadinkado stamp company and K
& Co., a scrapbook company.
Founded in 1980, the Chicago-based GTCR currently manages $8+
billion of equity capital invested in a wide range of companies and
industries. For more, visit www.gtcr.com.
CHA SUMMER SHOW REPORT
The mood seemed upbeat and positive. Of the numerous exhibitors
questioned by CLN, the vast majority were pleased with the
show.
Trends. Scrapbook retailers continue to expand their
inventory to attract paper crafters and others ... Signs of an
up-tick in yarn ... Beading may be leveling off, after recent
substantial increases ... Private equity firms continue to look at
industry-related companies, such as Jo-Ann's and A.C.
Moore ... The Tablescapes exhibit, organized by Cindy
Rippy, showed just how talented the industry's designers are. To see
photos of the exhibit, visit http://artinentertaining.blogspot.com.
Numbers. Total attendance was 7,425, down 6.4% from a year
ago. CHA used a new system of counting registration, so for the
first time it does not include those who pre-registered but did not
attend. The attendance was also divided for the first time into
three groups – Buyers (3,260); Business Networkers (e.g., members
of the press) (1,462); and Exhibitors (2,703), so future show
reports can provide apples-to-apples comparisons.
Scrapbooking. A group of scrapbook/paper craft
manufacturers formed a Category Interest Group within CHA and
elected Nate Arnesen of Basic Grey as Chair and Tom Vasko of 3l
Corp. as Vice Chair. The group announced its members plan to
exhibit at the CHA Winter Show and is compiling a list of ways in
which CHA can help the group and the category. An additional meeting
is planned for the CHA Winter Show. Any scrapbook/paper craft
manufacturer interested in learning more about the Group's
activities should email Nate at nate@basicgrey.com.
(Comment: Every industry section should form a group like
this; it could only improve communication between members and CHA's
board and staff and help CHA better understand the specific needs of
the group.)
Bright Idea. The crop room at Scrapbook 911 in San
Antonio was empty on Wednesdays, so retailer Michael Dolan offered
it as a meeting place to the local Weight Watchers group. Now every
Wednesday evening 60-some women visit his store.
Awards: Innovations (best new products) winners
included 1st place to Wrights for its SideWinder™
portable bobbin winder, a battery-operated winder that works with
the touch of a button. www.wrights.com
... Ranger Industries won 2nd place with its Tim Holtz ™
Distress Crackle Paint™, a one-step paint that cracks as it
dries, enabling the user add instant aged, weather-worn looks to
cardstock, chipboards, die cuts, paper mache projects, etc. www.rangerink.com
... 3rd place went to Pageframe Designs for its Clearly
Cutting Edge album which features see-thru, clear pages that
provide a backdrop for virtually any embellishments, pictures, etc. www.scrapbookframe.com.
In the Art Materials category, Fiskars won 1st
place for its Squeeze Punches. www.fiskarscrafts.com.
... Crafty Dab won the Best Packaging award www.craftydab.com.
... The Most Innovative Product award went to Glue Arts for
its GlueGlider®.
Ellison won the Golden Press Kit award for
manufacturers (www.sizzit.com)
and Marie Browning Creates won for designers. www.mariebrowning.com
Products. Unique items at the CHA Summer Show: A
scrappable baby tooth organizer, the Baby Tooth album,
invented by a practicing dentist who created it after hearing
complaints from patients that they wanted to preserve their kids'
baby teeth, but didn't know what to do with them. Visit www.babytoothalbum.com
... The Webcaster Gun from Midwest Design Imports creates instant,
colorful spider webs for Halloween and other displays. Works as easy
as a glue gun. Visit www.thewebastergun.com.
2008. Next year's Summer Show will be July 18-20;
education begins the 17th, again at the Rosemont, IL Convention
Center. The Winter Show returned to Anaheim Feb. 10-13.
CONSEQUENCES OF WAL-MART
DROPPING STITCHERY
Just days before the CHA Summer Show, Wal-Mart told its stitchery
vendors it was dropping the category. (To read the Wal-Mart note,
click on Newsbriefs in the left-hand column.)
Short term: Layoffs by vendors, particularly warehouse
staff and some salespeople ... Increased emphasis by vendors on
diversifying into other product categories ... A glut of excess
inventory being unloaded to other stores, such as dollar stores ...
An increase in business for e-commerce needlework sites ...
Remaining Wal-Mart vendors wondered, "Uh oh, are we next?"
Long term: A boost in needlework sales for Wal-Mart's
chain and independent competitors ... There may eventually be an
increase in the number of new needlework shops ... Vendors in all
categories will pay more attention to their independent retail
business, knowing the chains will cut them off in a heartbeat if the
numbers aren't strong ... Because Wal-Mart is the only local source
of needlework in many smaller towns, some business will be lost
forever.
(Note: What consequence, positive or negative, has CLN
missed, or that you disagree with? Email your comments, on or off
the record, to CLN at mike@clnonline.com
and vote in Industry Polls.)
WAL-MART/STITCHERY: THE
INDUSTRY COMMENTS
1. "The writing has been on the wall for Wal-Mart for
a long time. Maybe the needlework buyer could have given more
warning, but I would be willing to bet that her bosses didn't give
her the green light to discuss it. No one is surprised over here. A
little sad – it's been a category for them for so long, but hey,
we've always said about their business: perform at a certain level
numbers wise or tomorrow it will be tires and Windex!" Manufacturer
2. "It's only just begun for these vendors. Wait
until Wal-Mart starts debiting them for all those 'bad' products
that the stores will report. I hope they have it in their contracts
that the goods are returned and not destroyed at store level. That
will at least cut down on the bogus reports. I hope they can survive
this hit." – Manufacturer (a Wal-Mart vendor but not
in stitchery.)
3. "We talked to Wal-Mart recently and asked if there
were any changes. She said no." – Industry Manufacturer
4. "Pretty unbelievable. I can tell you this kind of
thing has happened to us at Jo-Ann's and Michaels,
though – cancelling orders and programs with no regard for their
vendors. This industry is as sick as I've ever seen it. We made a
decision. We are minimizing our exposure to the craft and hobby
market starting in 2008 for other, better retail and
direct-to-consumer markets in other industries." –
Manufacturer's Rep
"We cut back on stitchery somewhat a few years ago because
of Michaels (now gone from Pocatello) and Wal-Mart. With Hancock
also gone, our stitchery business will likely increase. – Emma
Gebo, Sierra's (an independent retail store)
5. "Sam Walton must be turning over in his
grave." – Numerous Manufacturers
6. "Wal-Mart is oblivious to the effect it has on this
industry. Otherwise, they would have waited until after the Summer
Show to announce the stitchery decision." – Manufacturer
7. "I'm delighted, because this should help Michaels.
I'm worried about all the debt Michaels has now, and if this helps,
so much the better." – Michaels Vendor
8. "I like my Wal-Mart buyer, but now I'm not sure I
can believe what he says." – Manufacturer
9. "Helen Walton was the big supporter of crafts. The
company's been cutting back ever since she died." Numerous
Manufacturers
MARTHA: REVENUE UP, BUT SO ARE
LOSSES
Martha Stewart Living Omnimedia announced second-quarter
revenue rose 7.7% to $73.4 million, but the operating loss was $7.8
million ($0.09/share), compared to $1.8 million ($0.07) a year ago.
Revenues in the merchandising division fell to $10.4 million from
$10.9 million. The company blamed it on declining sales at Kmart,
but President/CEO Susan Lyne said the initial performance of the Martha
Stewart Crafts line has been "solid."
The stock fell to a 52-week low, $13.12, after the second-quarter
results were announced. Morgan Stanley analyst Lisa Monaco said in a
research note, "The stock will not move materially higher until
there is some indication about the success of the new Macy's line in
September, and there was little in today's release to conclude one
way or the other about the success of new partnerships...." The
stock had traded at a 52-week high of $23.21 last December.
HANCOCK BANKRUPTCY UPDATE
Hancock asked for a seven-month extension of its deadline for
filing a Chapter 11 plan, a move that wasn’t protested by
unsecured creditors. The company says it won't even know until this
month how much it owes creditors, so it needs more time, the
Associated Press reported.
"I don’t think the case will last too long," said Jay
Indyke, the attorney for the unsecured creditors committee, told the
AP. .
Some people are optimistic about the outcome. The AP reported,
"Buyers of bankruptcy claims, who were offering 50 cents on the
dollar to suppliers who are owed money by Hancock, are now offering
75 cents on the dollar or higher, according to some who sold their
claims."
NEEDLEWORK IS "A
LEGITIMATE FASHION PURSUIT"
A recent article in the New York Times reported needlework
has become chic among the young and the fashion conscious.
"Formerly neglected domestic arts like knitting, quilting,
sewing and embroidery are being eagerly embraced, especially by the
young. Their passion kindled by the abundance of handcrafted looks
on the runways, they are blowing the dust off these folksy skills
and lending them the bright sheen of style," wrote reporter
Ruth La Ferla.
The article said young women are turning to sewing, knitting, and
crochet, and are emulating high-end fashion designers such as Marc
Jacobs, Nicolas Ghesquiere of Balenciaga, and Michael Kors. But the
fashion industry is emulating the needleworkers, too. "I do
think the runways were inspired by people doing crafty things at
home and by how inventive this generation is," Ruth Sullivan,
an editor at Workman Publishing, told the Times.
For example, after seeing an exhibition of quilts from Gee’s
Bend, AL, at the Whitney Museum, Marc Jacobs designed patchwork
skirts and dresses for his secondary line for spring.
EMAIL: GAS PRICES HURT
E-COMMERCE, TOO
You mused on why an e-commerce site that shouldn’t be hurt by
gas prices would be suffering reduced sales. Actually, while sales
aren’t down yet, my profits are down. My vendors have increased
prices; inbound freight has gone up substantially, causing me to
have to raise inventory prices a bit; outbound shipping costs went
up last year and I didn’t raise my shipping costs, but tried to
recoup by using lighter packaging, carrying more inventory (to avoid
back orders and expensive split ships), and other cost-cutting
measures.
This year, shipping costs went up another 15% on May 15. We
started losing a measurable amount on every package we shipped under
our old schedule, and I could no longer make up the losses with
creative packaging. Starting May 16, on every order for yarn that
was placed May 15 or earlier, I made a smaller margin (yarn price
increase took effect May 15), and I lost at least 50 cents to $1 on
shipping each package. Then the postal service changed the rules on
box sizes, causing me to have to order a different size box to avoid
a $20 surcharge on canvas shipments. The new boxes are almost $1
each; the old boxes were free because I recycled.
To recover all these costs, I have had to raise prices, both
retail and for shipping. I also had to drop international deliveries
entirely as being prohibitively expensive. That will cause a slight
decline in volume. As my prices go up, shopping on the Internet
begins to look less attractive compared to the stores, and I may
lose local business as a result. I also had to shut my web store
down for several weeks to do some storm repair and to restructure
our entire pricing scheme due to these escalating costs, which has
caused a rapid drop in sales (short term I hope).
E-commerce gets hit by high gas prices, but in some different
ways from the brick and mortar stores. Needlework is up overall, but
it’s getting harder to make a profit at it. – Catherine
Bracken, www.discountneedlework.com
RANDOM NOTES, RANDOM THOUGHTS
1. As I walked the CHA Summer Show, I was reminded
of something John McDonald of Sugarloaf said years ago:
"I look at these booths and sometimes I can't tell what they're
selling." The same is still true: some booths are filled with
beautiful made-ups, but... what IS the product? A book? A kit? Is it
a product, or a line of products?
2. In the last issue I listed the past decade's most
important influences on the industry of today, and the recent Summer
Show made me realize I made a major omission: Wal-Mart. The
decision to drop stitchery affects everyone. Whether you're involved
in stitchery or not, Wal-Mart's competitors – chains and
independents alike – should ultimately be stronger, and Wal-Mart's
remaining vendors are worried.
This industry is like a calm lake. Then someone throws a pebble
in the water and the ripples go on and on.
3. CHA reported attendance at the Summer Show was down;
could have fooled me. I thought Sunday afternoon was the busiest
last few hours of the show in years. The CHA board members divide up
the show, and we each take a couple of aisles to ask the exhibitors
how the show was, any complaints or suggestions for the board, etc.
I couldn't get into half my assigned booths because the exhibitors
were still busy with customers.
Hotel bookings were up; apparently there were slightly fewer
attendees, but they stayed longer than in recent years.
4. To see an absolutely fascinating 8-minute video on the
future of information – how we receive it and who organizes it and
sends it to us – visit http://idorosen.com/mirrors/robinsloan.com/epic.
MISCELLANEOUS NEWS: RETAILERS
STORES. The Sierra Pacific Crafts group has recently added
more stores: Lady Jane Crafts in Ozone Park, NY; Mangelsen's
in Omaha, NE; Caravan Beads in Chicago; Briolette Beads
& More in Forest Park, IL; and Ben Franklin stores in
Quincy, IL; Macon, MO; Monroe City, MO; Palmyra, MO; and Havre, MT.
The SPC group now controls 88 stores in 18 states, from New York to
Hawaii and is still growing.
BRIBES. CBS News reported that four Home Depot purchasing
managers are alleged to have taken millions of dollars in kickbacks
so the company would carry certain unnamed flooring products. Home
Depot fired the four and said the matter was under investigation by
federal authorities. (Note: Years ago a J.C. Penney buyer went to
prison for accepting bribes.)
A.C. MOORE. Releases its second-quarter sales/earning
report this afternoon ... Was listed as #100 in "Hot 100
Retailers" list compiled by Stores, published by the National
Retail Federation. to see the complete list, visit www.stores.org/pdf/07AugHOT100.pdf.
WAL-MART. Lowered prices by 10-50% on some back-to-school
merchandise to win back consumers who have been shopping at Target,
Bloomberg News reported..
RELIGION. Wal-Mart is cutting out stitchery in order to
make room for better selling merchandise, probably electronics. One
analyst predicted the company's electronics sales will jump at least
10% to 12% in 2007 .... USA Today reported next month
Wal-Mart will sell "faith-based" toys in 425 stores –
stores that have strong sales of Bibles. One toy will be a 12"
talking Jesus doll ... The Decatur (TN) Daily published an
article on the growth of "spiritual scrapbooking" and
cited Reminders of Faith as a vendor and The Scrapnook,
a Decatur store that's increasing its faith-related inventory.
SCHOOLS. Last Saturday Crayola joined forces with Wal-Mart
in Florida to have teachers wearing Crayola aprons in the
back-to-school section to assist families locate the correct items
on their kids' school lists ... Teachers are invited to Michaels
stores Aug. 12-18 to receive a "teachers only" 15%
discount off of everything in the store, including sale items.
(School ID is required to receive the discount.)
STOCK. Analysts at CL King initiated coverage of Jo-Ann's
with a Strong Buy rating.
MISCELLANEOUS NEWS: PEOPLE
PAINTING, I. The Society of Decorative Painters has
named Kitty Bond as Exec Director. Bond has 20+ years experience as
a manager in general management, finance, and accounting in a
variety of industries, most recently as VP of Business Operations
for the Children's Museum of Denver. She begins in September.
PAINTING, II. Jarden Branded Consumables, a business unit
of Jarden Corp., promoted Michael Cornell, previously CEO of Jarden
Home Brands (including Loew-Cornell) to President/CEO of
Jarden Branded Consumables. Cornell joined Jarden following the
acquisition of Loew-Cornell, in 2004. He's now in charge of Loew-Cornell;
the Pine Mountain fire log business; the Jarden Home Brands
businesses, including the Diamond and Ball brands; and the U.S.
Playing Cards, Lehigh, and First Alert businesses.
TECHNOLOGY. T.J. Harty, former Dir. of eMedia Technology
for Penton Media, has been named VP of Technology for Interweave
Press.
WAL-MART. Claire Watts, Exec VP of apparel merchandising,
has resigned.
MISCELLANEOUS NEWS
BEADS. Interweave Press today unveiled BeadingDaily.com, a
new online beading community with a library of free beading and
jewelry-making projects, a daily blog, and an e-newsletter from the
publisher of Beadwork, Step by Step Beads, Step by
Step Wire Jewelry, and Stringing magazines. Recently
Interweave launched KnittingDaily.com, a similar site for knitting
enthusiasts. "These two new online platforms –
KnittingDaily.com and BeadingDaily.com –
have created exciting new opportunities for cross-media content
and will significantly increase our ability to connect to craft
enthusiasts with our trusted brands," said CEO Clay Hall. Visit
www.beadingdaily.com
and www.knittingdaily.com.
IMPORTS. Fisher-Price recalled 83 kinds of toys, including
popular Sesame Street characters Big Bird and Elmo, because
the paint used in China contains large amounts of lead.
SHOWS. MemoryTrends sponsors, concerned about
rumors regarding the show, went online to announce the show is not
cancelled; the MemoryTrends show and The SMART Group are
separate entities; the 2008 show will "co-locate" with the
Photo Marketing Assn. show, but PMA did not buy the show,
Previous MemorytTends exhibitors receive priority pricing and
booth placement in 2008; exhibit booth rates are comparable to past
Memorytrends fees. Visit www.memorytrendsexpo.com/myth/index.html
.
REMINDER. The deadline to reserve a workshop for the CHA
Winter Show is Aug. 15. For info, call the CHA Education Department
at 201-794-1133, x 230 ... The deadline to submit names to the CHA
awards committee has been extended to Aug. 15. Basically there are
three awards, for service to CHA, for service to the industry, and
for service to mankind. To access a nomination form, visit www.craftandhobby.org
and click on "CHA Award Nomination Form."
BACK TO SCHOOL. The National Retail Federation’s 2007
Consumer Intentions and Actions Back-to-School survey, conducted
by BIGresearch, reveals families with school kids expect to spend
$563.49 on back-to-school merchandise, up 6.9% from a year ago.
Total back-to-school spending this year is expected to reach $18.4
billion. Electronics will see the biggest increase in sales this
year, with spending up 13.0%. "Electronics have evolved from
luxuries to necessities, not only for college students but also for
their younger siblings," said NRF President/CEO Tracy Mullin.
"While some students may be pleading with mom and dad for an
iPod or a cell phone, parents are also investing in desktop or
laptop computers, educational software and printers to support their
children’s learning."
PAINT. In "Six Surprising Beauty Solutions" in
the Fall issue of In Style Makeover, the article quotes New
York City makeup artist Christy Coleman: "I use Loew-Cornell's
paint brushes on my clients all the time." One of Coleman's
clients is Amanda Peet.
QUOTATION. "Beware of little expenses. A small leak
will sink a great ship." – Benjamin Franklin
CROCHET. DRG released a 304-page crochet book, Mad
about Scraps, with projects for crocheters who don't know what
to do with left-over scrap yarn and thread from previous projects.
LOOKING TO HIRE. A key account manager to sell to and
manage large key accounts for a craft/needlework publisher. Must
have strong selling and communication skills and be able to
develop/maintain strong relationship with all buyers. This
position can work remotely but must be willing to frequently to the
home office. For more, in complete confidence, email Mike Hartnett
at mike@clnonline.com.
SCRAPBOOKING. Making Memories introduced the St. Nick vintage
Christmas collection of papers, stickers, tags, trims, etc. ... The Halloween
'07 line includes foiled and
flocked specialty papers, foam stamps, embellishments, etc. ... A
Desktop Organizer for 12" x 12" paper, tools, etc.,
with removable drawers ... There are ledger designs in vibrant color
families. Includes intelligent albums, floral brocade trims,
glittered alphas, loopy striped paper, etc. ... Also a Flocking
and Foiling kit. www.makingmemories.com/clients/login.cfm
DESIGNERS. CHA will significantly expand the License
& Design section for the Winter Show. The section will
include a central location on the show floor, enhanced booth
packages, specially designated pre and post-show hours and other
innovative exhibitor support programs, as well as new, aggressive
promotional strategies -- designed to help designers tap into the
growing art licensing opportunities. For exhibit info, call Anthony
Licata, Sr. Sales Manager, at 800-822-0494, ext 201. or alicata@craftandhobby.org.
CLN STOCK INDEX: A.C. Moore: $16.67, down $3.39 ...
Jo-Ann's: $24.40, down $2.81 ... Wal-Mart: $45.52, down x.xx ... CLN
Index: 87.50, down 11.2%% ... Dow Jones: 13,182.15, down 5.2%.
All changes in price are since 8/3 and are exclusive of dividends.)
THE CREATIVE NETWORK: JOB
OPENINGS
To see the listings from only personnel recruitment firm
specializing in our industry, click on JOBS in the left-hand column,
or click HERE.
COMPANY CONSOLIDATION UPDATE
Since the industry seems to be awash with mergers and
acquisition, a CLN reader proposed these:
1. Hale Business Systems, Mary Kay Cosmetics, Fuller
Brush, and W. R. Grace Co. will merge and become Hale, Mary, Fuller,
Grace.
2. Polygram Records, Warner Bros., and Zesta Crackers join
forces and become: Poly, Warner Cracker.
3. 3M will merge with Goodyear and become MMMGood.
4. Zippo Manufacturing, Audi Motors, Dofasco, and Dakota
Mining will merge and become ZipAudiDoDa.
5. Fed Ex is expected to join its competitor, UPS, and
become FedUP.
6. Fairchild Electronics and Honeywell Computers will
become Fairwell Honeychild.
7. Grey Poupon and Dockers Pants are expected to become
Poupon Pants.
8. Knott's Berry Farm and the National Organization of
Women become Knott NOW!
REMINDERS
1. If you want a hard-copy of this issue, click on
"Printer Friendly version."
2. If your company is a paid subscriber, everyone in the main
office is welcome to register, free. Just click on "Work for a
paid subscriber? Click Here to register" (center column, near
the top).
3. If you ever have trouble with your password, click on
"Trouble with your password" in the right-hand column of
the main page. The computer will then email the correct information
to you.
4. Creative Leisure News is published the first and third Mondays of each
month. Because July has five Mondays, your next issue will be Monday,
August 20.
xxx