US trade deficit widens in Feb. despite all-time high exports | Distributors, NAW members named among Newsweek's most trusted | ABC Supply acquires Ontario company Henry's Supply
The value of US imports jumped in February, pushing the trade deficit to $68.9 billion, nearing a one-year high and the third consecutive month of deficit widening. Imports reached almost $332 billion, driven by mobile phone purchases, automobiles and food, while exports climbed to an all-time high of $263 billion behind rising civilian aircraft and crude oil shipments.
A recent Newsweek ranking of the Most Trustworthy Companies in America includes a handful of distributors and NAW members, including Airgas, GMS, Genuine Parts Company and Wesco. Grainger was named the most trusted company in the machines and industrial equipment category.
ABC Supply, one of the largest North American wholesale distributors of roofing and building materials, is acquiring Canadian firm Herman's Supply Company. Based in Ontario, Herman's Supply is a family-owned business with 11 locations in Ontario and one in New York. ABC Supply plans to close the transaction next week but has not disclosed the deal's financial terms.
Pollo Campero, a Guatemala-based chicken with a US footprint, tracked worker steps to reconfigure its restaurants for better efficiency. The restaurant chain, which has approximately 100 US locations, boosted efficiency amid rising costs by cutting the number of worker steps roughly in half, from around 18,000 steps per shift to just 9,500 steps per shift.
The Securities and Exchange Commission is putting implementation of its new climate disclosure rule on hold as challenges to the regulation go through the legal system, according to a filing with the 8th Circuit Court of Appeals. The SEC plans to defend the rule, but it noted that a "Commission stay will facilitate the orderly judicial resolution of those challenges and allow the court of appeals to focus on deciding the merits."
SiftHub, a startup based in San Francisco, aims to streamline how salespeople can answer customer questions about products through deployment of AI to search a company's technology stacks. Manisha Rasinghani, the founder of SiftHub, says the startup allows sales professionals to spend more time "building connections with prospects, leads and customers."
Research shows the benefits are clear: Companies that invest in their employees' professional development experience increased employee retention, improved performance and enhanced innovation. Join a select group of high-caliber professionals for an exclusive program designed to accelerate your career in wholesale distribution. This intensive, 5-day certificate program, led by seven expert faculty members from The Ohio State University, will equip students with the strategic skills and knowledge to navigate industry challenges, drive growth and lead with confidence. The Spring Session is April 29 - May 3, 2024. Learn More.
The NAW Company Roundtables are an exclusive community of thought leaders from Billion Dollar and Large Company distribution enterprises who congregate to network with non-competing peers in multiple lines of trade on key issues. Learn more about the many Roundtable event opportunities we offer, and how your leaders can get involved. Learn more.
Join us on May 22 at 1 pm ET for the next webinar in our "How-to with NAW" series. Each episode is a micro-revolution for your distribution business, delivering practical takeaways and actionable steps you can implement immediately.
In the deep sky where there had been a sun, we saw a ring of white silver; a smoking ring, and all the smokes were silver, too; gauzy, fuming, curling, unbelievable. And who had ever seen the sky this color!
.png)
