Mastering sales force integration in a merger

Companies can seize the opportunity in mergers by involving employees and customers in the integration process, retaining critical staff, generating momentum by quickly winning key accounts, and serving the right customers in the right way.

In This Article

• Exhibit: Respondents place a high priority on improving the skills and capabilities required to integrate sales operations after a merger.
• Sidebar: A case study of rapid sales force integration

Make no mistake: mergers are challenging. Even so, they can provide organizations with transformative possibilities. One of the biggest—the integration of sales forces—is central to ensuring revenue growth and driving the value that mergers promise but often fail to realize.

Yet integrating sales forces ranks among the hardest parts of a merger to execute—a fact not lost on senior executives (exhibit). Mergers generate anxiety inside and outside the companies involved, and competitors happily exploit such fears to woo star salespeople and poach customers. Nonetheless, savvy companies embrace the opportunity to build a new sales organization that is more than the sum of its parts.
https://www.mckinseyquarterly.com/Marketing/Management/Mastering_sales_force_integration_in_a_merger_2455

By Alibaba

Published: 22 Oct 2009 01:32:32 PST

BEIJING, Oct 22 – Following are China’s economic indicators.

1. Real GDP growth (yr/yr % change) YEAR 2008 2007 2006 2005 2004 2003 2002 2001 2000 1999 1998 1997 PCT 9.0 13.0 11.6 10.4 10.1 10.0 9.1 8.3 8.4 7.6 7.8 9.3 QTR* Q309 Q209 Q109 Q408 Q308 Q208 Q108 Q407 Q307 Q207 Q107 Q406 PCT 8.9 7.9 6.1 6.8 9.0 10.1 10.6 11.2 11.5 12.6 11.7 10.4

2. Trade balance (in billions of dollars) MONTH Sep09 Aug09 Jul09 Jun09 May09 Apr09 Mar09 Feb09 Jan09 Dec08 Nov08 Oct08 EXP 115.9 103.7 105.4 95.4 88.8 91.9 90.3 64.9 90.5 111.2 115.0 128.3 IMP 103.0 88.0 94.8 87.2 75.4 78.8 71.7 60.1 51.3 72.2 74.9 93.1 BAL 12.9 15.7 10.6 8.2 13.4 13.1 18.6 4.8 39.1 39.0 40.1 35.2

3. Export and import growth (yr/yr % change) MONTH Sep09 Aug09 Jul09 Jun09 May09 Apr09 Mar09 Feb09 Jan09 Dec08 Nov08 Oct08 EXP -15.2 -23.4 -23.0 -21.4 -26.4 -22.6 -17.1 -25.7 -17.5 -2.8 -2.2 19.2 IMP -3.5 -17.0 -14.9 -13.2 -25.2 -23.0 -25.1 -24.1 -43.1 -21.3 -17.9 15.6

4. Money supply growth (yr/yr % change) MONTH Sep09 Aug09 Jul09 Jun09 May09 Apr09 Mar09 Feb09 Jan09 Dec08 Nov08 Oct08 M2 29.3 28.5 28.4 28.5 25.7 26.0 25.5 20.5 18.8 17.8 14.8 15.0 M1 29.5 27.7 26.4 24.8 18.7 17.5 17.0 10.9 6.7 9.1 6.8 8.9 M0 16.0 11.5 11.6 11.5 11.2 11.3 10.9 8.3 12.0 12.7 9.0 10.6

5. Yuan loans (in trillions of yuan and yr/yr % change) MONTH Sep09 Aug09 Jul09 Jun09 May09 Apr09 Mar09 Feb09 Jan09 Dec08 Nov08 Oct08 Level 39.0 38.5 38.1 37.7 36.2 35.6 35.0 33.1 32.0 30.4 29.6 29.8 Change 34.2 34.1 33.9 34.4 30.6 29.7 29.8 24.2 21.3 18.8 16.0 14.6

6. Overall fixed-asset investment growth (yr/yr % change) YEAR# 2008 2007 2006 2005 2004 2003 2002 2001 2000 1999 PCT 25.5 24.8 24.0 25.7 26.6 26.7 16.1 12.1 9.3 5.2

Fixed-asset investment in urban areas, year to date (yr/yr % change) MONTH Sep09 Aug09 Jul09 Jun09 May09 Apr09 Mar09 Jan-Feb09 Dec08 Nov08 Oct08 PCT 33.3 33.0 32.9 33.6 32.9 30.5 28.6 26.5 26.1 26.8 27.2

7. Industrial output growth (yr/yr % change) YEAR 2008 2007 2006 2005 2004 2003 2002 2001 2000 1999 PCT 12.9 18.5 16.6 16.4 16.7 17.0 12.6 9.9 11.4 8.5 MONTH Sep09 Aug09 Jul09 Jun09 May09 Apr09 Mar09 Jan-Feb09 Dec08 Nov08 Oct08 PCT 13.9 12.3 10.8 10.7 8.9 7.3 8.3 3.8 5.7 5.4 8.2

8. Retail sales growth (yr/yr % change) YEAR 2008 2007 2006 2005 2004 2003 2002 2001 2000 1999 PCT 21.6 16.8 13.7 12.9 13.3 9.1 8.8 10.1 9.7 6.8 MONTH Sep09 Aug09 Jul09 Jun09 May09 Apr09 Mar09 Jan-Feb09 Dec08 Nov08 Oct08 PCT 15.5 15.4 15.2 15.0 15.2 14.8 14.7 15.2 19.0 20.8 22.0

9. Consumer price index (yr/yr % change) YEAR 2008 2007 2006 2005 2004 2003 2002 2001 2000 1999 1998 1997 PCT 5.9 4.8 1.5 1.8 3.9 1.2 -0.8 0.7 0.4 -1.4 -0.8 2.8 MONTH Sep09 Aug09 Jul09 Jun09 May09 Apr09 Mar09 Feb09 Jan09 Dec08 Nov08 Oct08 PCT -0.8 -1.2 -1.8 -1.7 -1.4 -1.5 -1.2 -1.6 1.0 1.2 2.4 4.0

10. Producer price index (yr/yr % change) YEAR 2008 2007 2006 2005 2004 2003 2002 2001 2000 1999 PCT 6.9 3.1 3.0 4.9 6.1 2.3 -2.2 -1.3 2.8 -2.4 MONTH Sep09 Aug09 Jul09 Jun09 May09 Apr09 Mar09 Feb09 Jan09 Dec08 Nov08 Oct08 PCT -7.0 -7.9 -8.2 -7.8 -7.2 -6.6 -6.0 -4.5 -3.3 -1.1 2.0 6.6

11. Actual FDI inflows (in billions of dollars, MOFCOM measure~) YEAR 2008 2007 2006 2005 2004 2003 2002 2001 2000 1999 VALUE 92.4 74.8 63.0 60.3 60.6 53.5 52.7 46.9 40.8 40.4 MONTH Sep09 Aug09 Jul09 Jun09 May09 Apr09 Mar09 Feb09 Jan09 Dec08 Nov08 Oct08 VALUE 7.9 7.5 5.4 9.0 6.4 5.9 8.4 5.8 7.5 6.0 5.3 6.7

12. Foreign exchange reserves (in billions of dollars) End-Sep09 End-Jun09 End-Mar09 End-Dec08 End-Sep08 End-Jun08 End-Mar08 2,272.6 2,131.6 1,953.7 1,946.0 1,905.6 1,808.8 1,682.2

13. Foreign debt (in billions of dollars) End-Jun09 End-Mar09 End-Dec08 End-Sep08 End-Jun08 End-Mar08 End-Dec07

360.6 336.7 374.7 442.0 427.4 392.6 373.6

14. Purchasing managers’ index (official) MONTH Sep09 Aug09 Jul09 Jun09 May09 Apr09 Mar09 Feb09 Jan09 Dec08 Nov08 Oct08 POINT 54.3 54.0 53.3 53.2 53.1 53.5 52.4 49.0 45.3 41.2 38.8 44.6

15. Bank interest rates

One-year yuan deposit rate One-year yuan lending rate

2.25 pct 5.31 pct

One-year dollar deposit rate One-year HK dollar deposit rate

3.00 pct 2.625 pct

Notes:

(1) China’s GDP growth is inflation-adjusted. Growth in fixed-asset investment, industrial output and retail sales is nominal.

(2) # The government’s monthly fixed-asset investment figures are based on urban areas only; it gives overall investment on a quarterly basis.

(3) ~ The Commerce Ministry FDI figures exclude investments in the financial sector. The monthly FDI figures are in some cases calculated by Reuters based on cumulative data released by the Commerce Ministry.

(4) * Quarterly GDP growth figures for 2006 and 2007 do not reflect revisions to full-year growth issued by the National Bureau of Statistics.

凝聚梦想 共筑辉煌

——热烈祝贺中国海外集团有限公司成立30周年

click the picture to view the 3D modelling

ACJC acquired a UK property from King Sturge on Q4 2009

The predicted currency gain from Q4 2009 to Q3 2011 (21 months to 24  months) = 16.8% (from 12.8 to 15)

As UK government regenerate the development in London, the property price appreciation predictions = 18% to 28% in next 21 months to 24 months (depends on property types and quality/branding of property developers)

The expected total return for this UK property in Arsenal (next 21 months to 24 months)

= not less than 38% plus recurring rental yield starting Q3 2011 of 8%

About King Sturge

www.KingSturge.com

King Sturge is one of the largest international property consultancies with a network of over 210 wholly owned, associated and affiliated offices in 45 countries worldwide. Over 3,800 staff throughout these offices cover all property sectors and specialisms, including plant and machinery.

King Sturge is a leading supplier of property and related services in the commercial market including the industrial, office and retail & leisure sectors. These services include agency, asset management, building consultancy, business recovery, corporate real estate, development, financial services, investment, landlord & tenant and valuation.

The firm’s expanding residential agency & consultancy services arm has an emphasis on development, new homes sales, key worker housing and investment properties including housing associations.

In Europe, King Sturge operates in the major UK commercial centres and principal mainland European cities. In the Americas, King Sturge has business partners in the USA, Canada, Central and South America through King Sturge CORFAC International. In Asia Pacific, King Sturge has associations in Australia, Indonesia, Malaysia and New Zealand.

Contact King Sturge Advisor by email keith.yuen@kingsturge.com

Biography

Since 1974, Robert Mundell (born 1932) has been Professor of Economics at Columbia University in New York. After studying at M.I.T. and the London School of Economics, he received his Ph.D. from M.I.T. in 1956, and was the Post-Doctoral Fellow in Political Economy at the University of Chicago in 1956-57. He taught at Stanford University and The Johns Hopkins Bologna Center of Advanced International Studies before joining the staff of the International Monetary Fund in 1961. From 1966 to 1971 he was a Professor of Economics at the University of Chicago and Editor of the journal of Political Economy; and from 1965 to 1975, he was (summer) Professor of International Economics at the Graduate Institute of International Studies in Geneva, Switzerland. For 1997-98 he was the AGIP Professor of Economics at the Johns Hopkins Bologna Center of the Paul H. Nitze School of Advanced International Studies.

Professor Mundell has been an adviser to a number of international agencies and organizations including the United Nations, the IMF, the World Bank, the European Commission, and several governments in Latin America and Europe, the Federal Reserve Board, the US Treasury and the Government of Canada. In 1970, he was a consultant to the Monetary Committee of the European Economic Commission, and in 1972-73 a member of its Study Group on Economic and Monetary Union in Europe¨. He was a member of the Bellagio-Princeton Study Group on International Monetary Reform from 1964 to 1978, and Chairman of the Santa Colomba Conferences on International Monetary Reform between 1971 and 1987.

The author of numerous works and articles on economic theory of international economics, he prepared one of the first plans for a common currency in Europe and is known as the father of the theory of optimum currency areas. He was a pioneer of the theory of the monetary and fiscal policy mix, the theory of inflation and interest and growth, the monetary approach to the balance of payments, and the co-founder of supply-side economics. He has also written extensively on the history of the international monetary system.

Mundell’s writings include over a hundred articles in the scientific journals and the following books: The International Monetary System: Conflict and Reform (1965); Man and Economics and International Economics (1968); Monetary Theory: Interest, Inflation and Growth in the World Economy 1971; and co-edited A Monetary Agenda for the World Economy (1983); Global Disequilibrium (1990); Debts, Deficits and Economic Performance (1991); Building the New Europe (1992); Inflation and Growth in China (1996).

Professor Mundell presented the Frank Graham Memorial Lecture at Princeton University in 1965, the Marshall Lectures at Cambridge University in 1974, and the Ohlin Lectures in 1998. He was the first Rockefeller Research Professor of International Economics at the Brookings Institution in 1964-65, the Ford Foundation Research Professor of Economics at the University of Chicago in 1965-66, the Annenberg Professor of Communications at the University of Southern California in 1980, the Repap Professor of Economics at McGill University in 1989-90, the Richard Fox Professor of Economics at the University of Pennsylvania in 1990-91, and the Agip Professor of Economics at the Bologna Center in 1997-98. He received a Guggenheim Prize in 1971, the Jacques Rueff Medal and Prize in 1983, the Docteur Honoris Causa from the University of Paris in 1992, an Honorary Professorship at Renmin University in China in 1995, the Distinguished Fellow Award from the American Economic Association in 1997, and was made a fellow of the American Academy of Arts and Sciences in October 1998.

From Les Prix Nobel. The Nobel Prizes 1999, Editor Tore Frängsmyr, [Nobel Foundation], Stockholm, 2000

This autobiography/biography was written at the time of the award and later published in the book series Les Prix Nobel/Nobel Lectures. The information is sometimes updated with an addendum submitted by the Laureate. To cite this document, always state the source as shown above.

By Robert Mundell

http://nobelprize.org/nobel_prizes/economics/laureates/1999/mundell-bio.html

Views from CEO, AnyChinaJob > Our property in PRC Shenzhen appreciated 10% (from 2006 to 2009) – GrandCity near Shangri-La LuWu 2006

The property price increased 23%

The property currency increased 10%

The rental yield per annum (since Mar 2009) equals 8%

The total return in PRC property investment from 2006 to 2009 (27 months) = 33% plus recurring recurring yield of 8%

http://msn.ynet.com/view.jsp?oid=56958610

中国民航局运输司副司长刘万明十八日出席“二00九中国国际通用航空大会高峰论坛”时称，中国鼓励境外资本兴办通用航空企业，并支持社会人士参与购买私用航空器。中国民航局正积极争取军方支持，推进低空空域管理改革试点。

　　中国内地通用飞机产业起步于上世纪五十年代，据统计，截至目前从事通用航空的企业八十八家，通用航空机场七十个，通用航空飞行员共计三千零七十六人，其中含持有私用驾照的八百零六人。通用航空的航空器总数八百九十八架，在世界处于较低水平。二00八年，仅农、林等行业对通用航空飞机需求缺口就达一百七十余架。

　　中国航空技术国际控股有限公司总裁付舒拉在此间表示，二00八年到二0一七年，全球通用飞机的需求量将超过四万两千架，预计总价值约两千一百四十四亿美元；中国需要通用飞机近五千架，约占全球总需求量的百分之十二，其中百分之七十九是通勤、作业、培训等用途飞机。未来十年中国通用飞机需求总价将达一百五十五亿美元。

　　付舒拉分析，中国通用飞机市场有三个发展阶段，第一阶段二00五年至二0一0年，以完善传统产业市场为主，私人娱乐飞行、短途客货运营、飞行培训等新兴市场开始起步，但市场份额仍然很少；第二阶段二0一一年至二0一五年，新兴市场将呈现突破性发展，同时也极大地激发培训市场的需求；第三阶段二0一六年至二0二0年，市场开始成熟，中国通用飞机市场与国际接轨，市场需求开始向高峰冲刺。

　　来自德国、美国、加拿大、瑞典、韩国、日本、丹麦、香港等国家和地区的六百多名通用航空领域企业代表参加此次大会。
　　

View this e-mail online Opens tomorrow at AsiaWorld-Expo! October 20-23, 2009 • Hong Kong Source quality baby & children’s products Dear Ma Tony; The China Sourcing Fair opens tomorrow, October 20! If you haven’t registered yet, make sure to bring 3 copies of your business card to facilitate your registration at the venue. Registration counters open at 9:30am. Why you should not miss the China Sourcing Fair … The Fair this October gathers hundreds of quality new suppliers of baby & children’s products from Greater China and Asia – all ready to be your growth partner in today’s uncertain markets. More than ever, the China Sourcing Fair is a must-attend event for professional buyers in the industry to grow their business. The Fair helps you to: Differentiate yourself from competitors – Source top-grade products to keep your clients’ interest and attract even more buyers to your stores Offer best-value prices – Find new suppliers with competitive price points Cut costs to increase your profits – Get flexible production and delivery terms on your orders Find your next best-selling products, new supply partners at the Fair … •Garments•Footwear •Bedding •Fashion accessories •Furniture •Bags •Safety products •Toys, games & puzzles •Care & bath products•Masks & costumes •Feeding products•Outdoor play equipment •Travel products Preview who’s exhibiting at the Fair with our online exhibitor list. You can also use the free “Make an appointment” service to plan your meetings ahead of time. Don’t miss out. See you tomorrow at the China Sourcing Fair! Emily Lee Visitor Marketing Manager, Global Sources Exhibitions What’s on at the Fair: Free conference program Get important sourcing information useful to survive today’s tough market conditions at Asia’s most extensive free conference program. Ask the Experts Book your free 10-minute private consultation with industry experts in our exclusive Ask the Experts service. Buyers’ lounges Relax, take a break and check your e-mails. Pre-registered buyers with coupons can also claim one free drink daily at the Wine & Cappuccino Bar. Inquiries: Call us at (852) 8199 7308

http://www.dailycommercialnews.com/nw/14537/en

- Royal LePage House Price Survey Shows Lower-Priced Homes Stable While

    High-End Home Values Are Beginning To Increase -

LONDON, ON, Oct. 8 /CNW/ – The Royal LePage House Price Survey released today showed that average house prices in London bounced back in the third quarter from lows posted earlier in the year. First-time buyers taking advantage of improved affordability have helped drive the market for lower-priced homes, while higher-end home values have seen the biggest quarterly increases.

The average price of a standard bungalow was down 1.1 per cent year-over-year to $225,000, but still posted an improvement over the second quarter average price of $217,200. Meanwhile, standard condominiums increased 0.7 per cent year-over-year, to $128,800.

After seeing real estate activity grind to a halt during the worst of the recession in late 2008 and early 2009, the market for high-end London homes picked up in the third quarter, posting significant gains compared to Q2.

“There are still some mixed feelings in the marketplace due to the economy,” said Peter Hoffman, Broker/Owner, Royal LePage Triland Realty. “But low interest rates combined with pent-up demand from previous quarters is driving the market, particularly for high-end homes.”

The strengthening of the upper end of the housing market is consistent with the national trend, according to the Royal LePage House Price Survey. Overall Canada’s housing market is on the road to recovery, but despite the strength of the market in the third quarter, giving the appearance of a surge in real estate activity, Royal LePage cautioned that sales are following a normal cyclical trendbut one that is lagging approximately one month behind the typical pattern in year to date analysis.

“The economic recession interrupted the flow of the real estate cycle but it is essentially back on track,” said Phil Soper, president and chief executive officer, Royal LePage Real Estate Services. “There is the illusion of a boom in the market, but in fact what we are experiencing is the end of a normal, short-term correction. Once housing supply returns to normal levels, we believe the economy will support low pricing growth into 2010.”

About the Royal LePage House Price Survey

The Royal LePage House Price Survey is the largest, most comprehensive study of its kind in Canada, with information on seven types of housing in over 250 neighbourhoods from coast to coast. This release references an abbreviated version of the survey, which highlights house price trends for the three most common types of housing in Canada in 80 communities across the country. A complete database of past and present surveys is available on the Royal LePage Web site at www.royallepage.ca. Current figures will be updated following the complete tabulation of the data for the third quarter. A printable version of the third quarter 2009 survey will be available online on November 6th, 2009.

Housing values in the Royal LePage Survey are Royal LePage opinions of fair market value in each location, based on local data and market knowledge provided by Royal LePage residential real estate experts. Historical data is available for some areas back to the early 1970s.

About Royal LePage

Royal LePage is Canada’s leading provider of franchise services to residential real estate brokerages, with a network of nearly 14,000 real estate professionals in over 600 locations across Canada. Royal LePage believes in the importance of giving back to the community and is the only Canadian real estate company to have its own charitable foundation. The Shelter Foundation is dedicated exclusively to funding women’s shelters and violence prevention and education programs. Royal LePage is managed by Brookfield Real Estate Services, and is part of a brand family that includes Royal LePage, Johnston and Daniel, and La Capitale Real Estate Network. An affiliated company, Brookfield Real Estate Services Fund, is a TSX listed income trust, trading under the symbol “BRE.UN.”

For more information visit www.royallepage.ca.

For further information: Michael Gotzamanis, Fleishman-Hillard Canada,             (416) 598-5788 ; Tammy Gilmer, Director, Public Relations and National Communications, Royal LePage Real Estate Services,             (416) 510-5783

Words from CEO> Now is the time to buy lower-priced homes rather than high end homes.  It is because potential gain in lower-priced homes is higher with less risk and value better justified by rental income.