tag:blogger.com,1999:blog-3047102778571238322024-03-07T23:33:34.418-08:00What PHIL Says!Commentary and insight from Phil Leichliter, President/C.E.O. of J. Philip Group L.L.C. on various topics.Phil Leichliterhttp://www.blogger.com/profile/10709973550569859581noreply@blogger.comBlogger12125tag:blogger.com,1999:blog-304710277857123832.post-49679809279834921042012-01-12T18:47:00.000-08:002012-01-12T18:47:33.916-08:00Why is "Off-Price Retail" so Successful?<div dir="ltr" style="text-align: left;" trbidi="on"><span style="color: blue; font-size: x-large;"><strong><u>WHY is "Off-Price Retail" so Successful??</u></strong></span><br />
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<span style="font-size: large;">I receive calls from investment advisors and analysts regularly and they are astonished at the continued success of the "<em>Off Price Retail</em>" category. They are frustrated beyond measure because they don't understand HOW some retailers in this category can continue to churn out increases in same-store sales, improved margin, reductions in expenses, and grow their shareholder equity month-after-month, season-after-season, and now year-after-year even in the midst of the financial malaise.</span><br />
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<div style="margin-left: 0.5in; mso-list: l1 level1 lfo1; text-align: justify; text-indent: -0.25in;"><span style="font-size: large;"><span style="font-family: Wingdings; mso-bidi-font-family: Wingdings; mso-fareast-font-family: Wingdings;"><span style="mso-list: Ignore;">Ø<span style="font-family: "Times New Roman"; font-size-adjust: none; font-stretch: normal; font-style: normal; font-variant: normal; font-weight: normal; line-height: normal;"> </span></span></span>"Will the Off Price Retailers have difficulty finding enough product to sustain growth??"</span></div><br />
<div style="margin-left: 0.5in; mso-list: l1 level1 lfo1; text-align: justify; text-indent: -0.25in;"><span style="font-size: large;"><span style="font-family: Wingdings; mso-bidi-font-family: Wingdings; mso-fareast-font-family: Wingdings;"><span style="mso-list: Ignore;">Ø<span style="font-family: "Times New Roman"; font-size-adjust: none; font-stretch: normal; font-style: normal; font-variant: normal; font-weight: normal; line-height: normal;"> </span></span></span>"Won't they suffer reduced margins soon, since the glut of merchandise that was on the market last year has now been consumed??"</span></div><br />
<div style="margin-left: 0.5in; mso-list: l1 level1 lfo1; text-align: justify; text-indent: -0.25in;"><span style="font-size: large;"><span style="font-family: Wingdings; mso-bidi-font-family: Wingdings; mso-fareast-font-family: Wingdings;"><span style="mso-list: Ignore;">Ø<span style="font-family: "Times New Roman"; font-size-adjust: none; font-stretch: normal; font-style: normal; font-variant: normal; font-weight: normal; line-height: normal;"> </span></span></span>"How can these retailers expect to continue to grow profits when they come up against the prior year's terrific successes??"</span></div><br />
<div style="margin-left: 0.5in; mso-list: l1 level1 lfo1; text-align: justify; text-indent: -0.25in;"><span style="font-size: large;"><span style="font-family: Wingdings; mso-bidi-font-family: Wingdings; mso-fareast-font-family: Wingdings;"><span style="mso-list: Ignore;">Ø<span style="font-family: "Times New Roman"; font-size-adjust: none; font-stretch: normal; font-style: normal; font-variant: normal; font-weight: normal; line-height: normal;"> </span></span></span>"Why are Off-Pricers able to retain and grow their customer base even when consumer confidence is so weak??"</span></div><br />
<div style="text-align: justify;"><b style="mso-bidi-font-weight: normal;"><span style="color: blue;"><span style="font-size: large;">There are scores of answers to these questions; some simple and some complex.<span style="mso-spacerun: yes;"> </span>Here are just a few answers I would bring forward based upon my decades of experience within the industry:<o:p></o:p></span></span></b></div><br />
<div style="margin-left: 0.5in; mso-list: l0 level1 lfo2; text-align: justify; text-indent: -0.25in;"><span style="font-size: large;"><span style="mso-list: Ignore;">1.<span style="font-family: "Times New Roman"; font-size-adjust: none; font-stretch: normal; font-style: normal; font-variant: normal; font-weight: normal; line-height: normal;"> </span></span><b style="mso-bidi-font-weight: normal;"><span style="color: #cc0000;">The business model</span></b> for Off-Price is perfect for times of uncertainty.<span style="mso-spacerun: yes;"> </span>Customers from Mid-Range retail like Sears, Penney's, Kohl's, and even some Department store chains found them trying Off-Price for the first time during the recession.<span style="mso-spacerun: yes;"> </span>They liked what they found, and the premium Off-Price Chains (Ross, TJX) learned how to RETAIN this customer.</span></div><br />
<div style="margin-left: 0.5in; mso-list: l0 level1 lfo2; text-align: justify; text-indent: -0.25in;"><span style="font-size: large;"><span style="mso-list: Ignore;">2.<span style="font-family: "Times New Roman"; font-size-adjust: none; font-stretch: normal; font-style: normal; font-variant: normal; font-weight: normal; line-height: normal;"> </span></span><b style="mso-bidi-font-weight: normal;"><span style="color: #cc0000;">Suppliers have learned</span></b> that Off-Price is "not a dirty word".<span style="mso-spacerun: yes;"> </span>In fact, it's a huge "insurance policy".<span style="mso-spacerun: yes;"> </span>Historically, suppliers have a huge gamble when planning production; they must produce enough product to sell every possible unit to the full price department stores (where their profits are), while at the same time not OVER-producing which will drain margins.<span style="mso-spacerun: yes;"> </span>With the success of the Off-Price category, suppliers know that they have a ready market for their excess production, even though they will have to sell it at a greatly reduced price. which allows them to product more product to sell to the full price department stores.</span></div><br />
<div style="margin-left: 0.5in; mso-list: l0 level1 lfo2; text-align: justify; text-indent: -0.25in;"><span style="font-size: large;"><span style="mso-list: Ignore;">3.<span style="font-family: "Times New Roman"; font-size-adjust: none; font-stretch: normal; font-style: normal; font-variant: normal; font-weight: normal; line-height: normal;"> </span></span><b style="mso-bidi-font-weight: normal;"><span style="color: #cc0000;">The premium Off-Pricers have simply managed their business better</span></b> than most of the rest of retail.<span style="mso-spacerun: yes;"> </span>When the recession began, they sat around tables in their Board Rooms, and "hunkered down" just like the rest of retail.<span style="mso-spacerun: yes;"> </span>But they soon discovered that by operating like they were in a recession (reducing inventories, increasing turns, watching headcount, etc) they would not be impacted in the same manner as most other retailers. <span style="mso-spacerun: yes;"> </span>Because they are "street fighters" by definition, they didn't return to their old ways..... they continued to operate as though it could fall apart at any moment.<span style="mso-spacerun: yes;"> </span>They allowed only CAPX projects that could demonstrate a ROI in the first 24 months.<span style="mso-spacerun: yes;"> </span>They watched headcount.<span style="mso-spacerun: yes;"> </span>They challenged every expense. They rewarded innovation and problem-solvers within the organization.</span></div><br />
<div style="margin-left: 0.5in; mso-list: l0 level1 lfo2; text-align: justify; text-indent: -0.25in;"><span style="font-size: large;"><span style="mso-list: Ignore;">4.<span style="font-family: "Times New Roman"; font-size-adjust: none; font-stretch: normal; font-style: normal; font-variant: normal; font-weight: normal; line-height: normal;"> </span></span><b style="mso-bidi-font-weight: normal;"><span style="color: #cc0000;">They were<span style="mso-spacerun: yes;"> </span>not burdened by unproductive locations.</span></b><span style="mso-spacerun: yes;"> </span>The premium Off-Pricers have made it a practice to close locations every single year, in good times or bad, if those locations are not contributing EBITDA.<span style="mso-spacerun: yes;"> </span>The "old line Department Stores" are burdened even today with scores of locations that have to be carried by the rest of the organization because Sr. Management didn't have the vision, foresight or guts to simply recognize the cancer and cut it out.</span></div><br />
<div style="margin-left: 0.5in; mso-list: l0 level1 lfo2; text-align: justify; text-indent: -0.25in;"><span style="font-size: large;"><span style="mso-list: Ignore;">5.<span style="font-family: "Times New Roman"; font-size-adjust: none; font-stretch: normal; font-style: normal; font-variant: normal; font-weight: normal; line-height: normal;"> </span></span><b style="mso-bidi-font-weight: normal;"><span style="color: #cc0000;">They know what they stand for, and their customers do too.</span></b><span style="mso-spacerun: yes;"> </span>I believe however, that there is one large dynamic that is a huge driver in the success of the premium Off-Pricers as WELL as premium full price retailers.<span style="mso-spacerun: yes;"> </span>Here's the easy way to understand what I'm driving at:</span></div><div style="margin-left: 1in; mso-list: l0 level2 lfo2; text-align: justify; text-indent: -0.25in;"><span style="font-size: large;"><span style="mso-list: Ignore;">a.<span style="font-family: "Times New Roman"; font-size-adjust: none; font-stretch: normal; font-style: normal; font-variant: normal; font-weight: normal; line-height: normal;"> </span></span><i style="mso-bidi-font-style: normal;">Ask ANYONE</i> you know to tell you what <b style="mso-bidi-font-weight: normal;"><span style="background-color: white; color: blue;">Nordstrom's</span></b> stands for.<span style="mso-spacerun: yes;"> </span>They will likely say, "Wow, well, excellent customer service, broad selection, the BEST designer labels and major manufacturers."</span></div><br />
<div style="margin-left: 1in; mso-list: l0 level2 lfo2; text-align: justify; text-indent: -0.25in;"><span style="font-size: large;"><span style="mso-list: Ignore;">b.<span style="font-family: "Times New Roman"; font-size-adjust: none; font-stretch: normal; font-style: normal; font-variant: normal; font-weight: normal; line-height: normal;"> </span></span><i style="mso-bidi-font-style: normal;">Ask ANYONE</i> you know to tell you what <b style="mso-bidi-font-weight: normal;"><span style="color: blue;">TJMaxx, Marshall's, and Ross</span></b> stand for, and they will likely say, "Treasure Hunt! Great designer labels and major manufacturers at fantastic prices!"</span></div><br />
<div style="margin-left: 1in; mso-list: l0 level2 lfo2; text-align: justify; text-indent: -0.25in;"><span style="font-size: large;"><span style="mso-list: Ignore;">c.<span style="font-family: "Times New Roman"; font-size-adjust: none; font-stretch: normal; font-style: normal; font-variant: normal; font-weight: normal; line-height: normal;"> </span></span><i style="mso-bidi-font-style: normal;">Ask ANYONE</i> you know to tell you what <b style="mso-bidi-font-weight: normal;"><span style="color: blue;">Wal-Mart</span></b> stands for and they will likely say, "Great prices, friendly associates, clean stores, LOW prices, great selection!"</span></div><br />
<div style="margin-left: 1in; mso-list: l0 level2 lfo2; text-align: justify; text-indent: -0.25in;"><span style="font-size: large;"><span style="mso-list: Ignore;">d.<span style="font-family: "Times New Roman"; font-size-adjust: none; font-stretch: normal; font-style: normal; font-variant: normal; font-weight: normal; line-height: normal;"> </span></span><i style="mso-bidi-font-style: normal;">Ask ANYONE</i> what <b style="mso-bidi-font-weight: normal;"><span style="color: blue;">Sears or JCPenney</span></b> stand for and they will most likely say "Kenmore, Craftsman, Penncrest, Towncraft, and... <em>uh..... I don't know</em>."<span style="mso-spacerun: yes;"> </span></span></div><br />
<div style="margin-left: 0.5in; text-align: justify;"><span style="font-size: large;"><b style="mso-bidi-font-weight: normal;"><span style="background-color: yellow; color: blue;">There it is.</span></b><span style="mso-spacerun: yes;"> </span>If you have not clearly defined yourself to the customer and made obvious what you stand for, you LOSE.<span style="mso-spacerun: yes;"> </span>Most of the retailers "in the middle" that are struggling have a huge list of problems with which to deal, but I submit there is one central concept wherein they've failed; <u><span style="color: red;">customers just don't know what they stand for.</span></u><span style="mso-spacerun: yes;"> </span><b style="mso-bidi-font-weight: normal;"><span style="color: blue;">They have huge brick-and-mortar stores filled with categories which the shopping public does NOT recognize or give them credit for.</span> </b><span style="mso-spacerun: yes;"> </span>Let's face it..... when you say "Fashion" or "Fashion at a great price", or "Fashion broad assortment", or "Designer labels", customers just don't name those "stores in the middle".</span><br />
<span style="font-size: large;"><span style="mso-spacerun: yes;"> </span><span style="mso-spacerun: yes;"> </span></span></div><div style="margin-left: 0.5in; text-align: justify;"><span style="font-size: large;">You'll notice that I referred to "<em>Premium Off-Pricers</em>", because just like all categories, there are some operators in this segment that simply cannot get out of their own way, and they will be part of the continued consolidation. </span></div><div style="margin-left: 0.5in; text-align: justify;"><br />
</div><div style="margin-left: 0.5in; text-align: justify;"><span style="font-size: large;"><strong><span style="color: blue;">2012 will be another exciting year of growth for the Off-Price sector, <u>and I know why</u>.</span></strong> </span></div><div style="margin-left: 0.5in; text-align: justify;"><ol><li><span style="font-size: large;">The customer knows what they stand for, (and so does their Sr. Management)! They don't stray from the model.</span></li>
<li><span style="font-size: large;">They know how to control inventories.</span></li>
<li><span style="font-size: large;">They know how to manage real estate.</span></li>
<li><span style="font-size: large;">They know how to manage expenses.</span></li>
<li><span style="font-size: large;">They know how to manage headcount and payroll.</span></li>
</ol></div><br />
<span style="font-size: large;">Please leave me your comments!<span style="mso-spacerun: yes;"> </span>I'd love to hear from you!</span> </div>Phil Leichliterhttp://www.blogger.com/profile/10709973550569859581noreply@blogger.com0tag:blogger.com,1999:blog-304710277857123832.post-31412072564415688862010-07-19T07:59:00.001-07:002010-07-19T07:59:59.920-07:00What's Your Definition of INTEGRITY?<meta content="text/html; charset=utf-8" http-equiv="Content-Type"></meta><meta content="Word.Document" name="ProgId"></meta><meta content="Microsoft Word 12" name="Generator"></meta><meta content="Microsoft Word 12" name="Originator"></meta><link href="file:///C:%5CUsers%5COwner%5CAppData%5CLocal%5CTemp%5Cmsohtmlclip1%5C01%5Cclip_filelist.xml" rel="File-List"></link><link href="file:///C:%5CUsers%5COwner%5CAppData%5CLocal%5CTemp%5Cmsohtmlclip1%5C01%5Cclip_themedata.thmx" rel="themeData"></link><link href="file:///C:%5CUsers%5COwner%5CAppData%5CLocal%5CTemp%5Cmsohtmlclip1%5C01%5Cclip_colorschememapping.xml" rel="colorSchemeMapping"></link><style>
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<div class="MsoNormal" style="line-height: normal;"><b><span style="font-family: "Times New Roman","serif"; font-size: 12pt;">Imagine a Corporate Board Room scene: A meeting is taking place with a group of business people who are discussing strategies to achieve success in taking on a large new project.</span></b><span style="font-family: "Times New Roman","serif"; font-size: 12pt;"> (This is a fictitious story meant to drive home my point, however scenes like this take place DAILY around the world.) <o:p></o:p></span></div><div class="MsoNormal" style="line-height: normal;"><span style="font-family: "Times New Roman","serif"; font-size: 12pt;">The opportunity is wonderful and exciting, and holds the promise to grow this company and take it to the next level.<o:p></o:p></span></div><div class="MsoNormal" style="line-height: normal;"><span style="font-family: "Times New Roman","serif"; font-size: 12pt;">The conversation is passionate and highly energized, but after a few minutes, one individual begins to dominate the conversation intent upon getting the entire team to adopt his world view, his perspective. His tone becomes more and more harsh, and finally he shouts, "Business is WAR!!", and begins to rail on about how the team must overcome their adversaries and defeat the enemy! When he finally ends his diatribe, the team just sits there, silently accepting this person's outrageous statements as though he must be tolerated because he is some sort of knowledgeable "warrior" of the business world.<o:p></o:p></span></div><div class="MsoNormal" style="line-height: normal;"><b><i><span style="color: red; font-family: "Times New Roman","serif"; font-size: 18pt;">War? </span></i></b><b><i><span style="color: #b45f06; font-family: "Times New Roman","serif"; font-size: 18pt;">Enemy? </span></i></b><b><i><span style="color: red; font-family: "Times New Roman","serif"; font-size: 18pt;"> </span></i></b><b><i><span style="color: #351c75; font-family: "Times New Roman","serif"; font-size: 18pt;">Adversary?</span></i></b><b><i><span style="color: red; font-family: "Times New Roman","serif"; font-size: 18pt;"> .... </span></i></b><b><i><span style="color: black; font-family: "Times New Roman","serif"; font-size: 18pt;">Really??</span></i></b><span style="color: red; font-family: "Times New Roman","serif"; font-size: 12pt;"><o:p></o:p></span></div><div class="MsoNormal" style="line-height: normal;"><span style="font-family: "Times New Roman","serif"; font-size: 12pt;">I've pondered this sad mentality; the jaded and harsh view of this pathetic type of individual, and the responses his audience might make. <o:p></o:p></span></div><div class="MsoNormal" style="line-height: normal;"><b><span style="color: blue; font-family: "Times New Roman","serif"; font-size: 12pt;">What this individual would want the group to assume is:</span></b><span style="color: blue; font-family: "Times New Roman","serif"; font-size: 12pt;"><o:p></o:p></span></div><ul type="disc"><li class="MsoNormal" style="line-height: normal;"><b><i><span style="font-family: "Times New Roman","serif"; font-size: 12pt;">Customers</span></i></b><span style="font-family: "Times New Roman","serif"; font-size: 12pt;"> are somehow the adversary because they want them to do things in their contract that might cost money and cut into possible profits! He believes the team should try their best to cut corners and "outsmart" the client.<o:p></o:p></span></li>
<li class="MsoNormal" style="line-height: normal;"><b><i><span style="font-family: "Times New Roman","serif"; font-size: 12pt;">Suppliers </span></i></b><span style="font-family: "Times New Roman","serif"; font-size: 12pt;">are the adversary because they want us to pay our invoices on time and within terms. He believes the team should try their best to "outsmart" the supplier. <o:p></o:p></span></li>
<li class="MsoNormal" style="line-height: normal;"><b><i><span style="font-family: "Times New Roman","serif"; font-size: 12pt;">Even other employees</span></i></b><span style="font-family: "Times New Roman","serif"; font-size: 12pt;"> in their company are the adversary, because they try to spend money to satisfy the client and they don't adopt this warped view. <o:p></o:p></span></li>
</ul><div class="MsoNormal" style="line-height: normal;"><b><span style="color: blue; font-family: "Times New Roman","serif"; font-size: 12pt;">Successful companies, and more importantly, successful PEOPLE have a very DIFFERENT view of their business, their clients, and their life in general.</span></b><span style="color: blue; font-family: "Times New Roman","serif"; font-size: 12pt;"><o:p></o:p></span></div><ul type="disc"><li class="MsoNormal" style="line-height: normal;"><b><i><span style="font-family: "Times New Roman","serif"; font-size: 12pt;">Customers are WONDERFUL!</span></i></b><span style="font-family: "Times New Roman","serif"; font-size: 12pt;"> They bring opportunity and prosperity to those companies and individuals who value them!<o:p></o:p></span></li>
</ul><ul type="disc"><li class="MsoNormal" style="line-height: normal;"><b><i><span style="font-family: "Times New Roman","serif"; font-size: 12pt;">Vendors and suppliers are WONDERFUL!</span></i></b><span style="font-family: "Times New Roman","serif"; font-size: 12pt;"> If we negotiate with them in good faith and strike appropriate and honorable deals, they will favor us with special offers and will agree to be excellent references!<o:p></o:p></span></li>
</ul><ul type="disc"><li class="MsoNormal" style="line-height: normal;"><span style="font-family: "Times New Roman","serif"; font-size: 12pt;"> <b><i>Employees, Co-Workers and Peers are WONDERFUL!</i></b> We need them as much as they need us! Without them, we will fail! We should seek to ADVANTAGE our co-workers, and to help them be totally successful in their jobs! We should be saying "What can I do to help you be successful" to them daily.<o:p></o:p></span></li>
</ul><div class="MsoNormal" style="line-height: normal;"><b><span style="color: blue; font-family: "Times New Roman","serif"; font-size: 18pt;">No, business is NOT "war".</span></b><span style="font-family: "Times New Roman","serif"; font-size: 12pt;"> Business is a wonderful endeavor wherein honoring your word and with integrity, and acting in the best interests of your customers will always pay huge dividends. <o:p></o:p></span></div><div class="MsoNormal" style="line-height: normal;"><span style="font-family: "Times New Roman","serif"; font-size: 12pt;">These dividends might not always be "cash", but might come in the form of having an excellent reputation in the marketplace, or in knowing that you have a large list of excellent references that you can use when seeking new business. <o:p></o:p></span></div><div class="MsoNormal" style="line-height: normal;"><span style="font-family: "Times New Roman","serif"; font-size: 12pt;">The very most important benefit of the wonderful world view and the actions you take because of it, is the <b>character</b> you build. Seek to build character with your every action, your every deed and word.<o:p></o:p></span></div><div class="MsoNormal" style="line-height: normal;"><b><span style="font-family: "Times New Roman","serif"; font-size: 12pt;">Character, honor, integrity. </span></b><span style="font-family: "Times New Roman","serif"; font-size: 12pt;"> Don't we all hope that when others are asked to describe each of us, these words will be used?<o:p></o:p></span></div><div class="MsoNormal" style="line-height: normal;"><span style="font-family: "Times New Roman","serif"; font-size: 12pt;">Think about it; are your words and deeds aligning to build character, honor, and integrity in your personal life and in your business? If not, what steps can you take today to move in the right direction?<o:p></o:p></span></div><div class="MsoNormal" style="line-height: normal;"><b><span style="font-family: "Times New Roman","serif"; font-size: 12pt;">Life is short. Do it right. <o:p></o:p></span></b></div><div class="MsoNormal"><br />
</div>Phil Leichliterhttp://www.blogger.com/profile/10709973550569859581noreply@blogger.com0tag:blogger.com,1999:blog-304710277857123832.post-42729302295633009562010-06-03T10:42:00.000-07:002010-06-03T10:46:40.161-07:00Cheer Up! Get on your feet! Take Courage!<span style="font-size: large;"><b style="color: #351c75;">That's right; get up on your feet and get moving! </b> Make positive steps to make your situation better!</span><br />
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<span style="font-size: large;">When I reflect upon my career of 40 years in Retail and Consulting, I recognize that I was always happiest when I was DOING something to solve a difficult situation either personally or professionally. Taking specific, positive steps toward solutions.</span><br />
<span style="font-size: large;"> </span><br />
<span style="font-size: large;">It is SO EASY to allow the people around you, the pressures of the job, the stress of deadlines, and your own high standards to cause you to lose focus.</span><br />
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<span style="font-size: large;">RIGHT NOW, as you read this, stop and consider the following facts, reflect on them, and then reassess your priorities, your schedule and your "to-do" list:</span><br />
<ol><li><span style="font-size: large;"> <i><b>You know more</b></i> today than at any other time of your life.</span></li>
<li><span style="font-size: large;"><b><i>You are better trained</i></b> and have more experience than at any other time of your life.</span></li>
<li><span style="font-size: large;"><b><i>You know more people</i></b> now than at any other time of your life. People who can help you!</span></li>
<li><span style="font-size: large;"><b><i>You are more savvy</i></b> today than at any other time in your life about "how things work".</span></li>
</ol><span style="font-size: large;">Just IMAGINE the ADVANTAGE you would have had when you were 18 years old, if you knew THEN what you know NOW! Well, GUESS WHAT? You DO know it now!</span><br />
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<span style="font-size: large;">You are advantaged. You have knowledge. You have experience. You are savvy. You have friends who can help you. </span><br />
<span style="font-size: large;"><br />
</span><br />
<span style="font-size: large;">Move forward like the knowledgeable, experienced, savvy, connected person that you really are!</span><br />
<span style="font-size: large;"><br />
</span><br />
<span style="font-size: large;"><b style="color: blue;"><span style="font-size: x-large;">Feel free to leave a comment!!</span></b></span>Phil Leichliterhttp://www.blogger.com/profile/10709973550569859581noreply@blogger.com1tag:blogger.com,1999:blog-304710277857123832.post-76934252577385160422010-05-09T18:20:00.000-07:002010-05-09T18:28:28.639-07:00"A Billion here and a Billion There, and pretty soon you're talking about REAL MONEY!<span style="font-size: large;"><span style="font-size: x-large;"><i style="color: #38761d;"><b>A Billion Dollars</b></i>.</span> </span><span style="font-size: large;"> It seems that lately we don't even speak in terms of Billions anymore; it's Trillions. I thought it would be intriguing and sobering to look into what a Billion dollars would purchase in goods and services in the Retail Sector. That should put some serious perspective on things, next time you hear government officials tossing around the "B" word. </span><br />
<span style="font-size: large;"><br />
</span><br />
<span style="font-size: large;">Here is a random sampling of what ONE BILLION U.S. DOLLARS WOULD PURCHASE. (Naturally, these figures are huge generalizations based on certain types of bags, fixtures, shopping carts, supplies, or labor types, but accurate enough to make you stop and think!):</span><br />
<ul><li style="background-color: white;"><span style="font-size: large;"><span style="background-color: white;">Ten million (10,0</span><span style="background-color: #f3f3f3;"><span style="background-color: white;">00,000) shopping carts (buggies) for retail or grocery stores.</span></span></span></li>
<li style="background-color: white;"><span style="font-size: large;"> Forty Two million</span><span style="font-size: large;"> c<span style="background-color: white;"><span class="goog-spellcheck-word" style="background: none repeat scroll 0% 0% rgb(255, 255, 255);">ase</span> of plastic shopping bags.</span></span></li>
<li style="background-color: white;"><span style="font-size: large;"><span style="background-color: white;">Thirty Five million </span><span class="goog-spellcheck-word" style="background: none repeat scroll 0% 0% rgb(255, 255, 255);">cas</span><span style="background-color: white;">es</span> </span><span style="font-size: large;">of plastic garment hangers.</span></li>
<li style="background-color: white;"><span style="font-size: large;"><span style="background-color: white;">Forty Thousand Full Time Employees, w</span><span class="goog-spellcheck-word" style="background: none repeat scroll 0% 0% rgb(255, 255, 255);">orking</span> 40 hours a week at $12 an hour for a year.</span></li>
<li style="background-color: white;"><span style="font-size: large;">Enough Store Fixtures (Floor Racking) to fully fixture 5,000 big box Off-Price stores</span></li>
<li style="background-color: white;"><span style="font-size: large;">Round Trip Airfare San Francisco to Dallas 3,875,000 times! (think of the airline points!) </span></li>
<li><span style="font-size: large;">Thirty Eight million cases of toilet tissue.</span></li>
</ul><span style="font-size: large;">I could go on and on because the imagination soars when you start putting a calculator to it. </span><br />
<br />
<span style="font-size: large;">I'd be interested to know what ONE BILLION U.S. DOLLARS WOULD PURCHASE in OTHER industries! If you are reading this and would like to provide me with some feedback from other industries like Medical, Hospitality, Property Management, etc... I would love to hear from you!</span><br />
<span style="font-size: large;"> </span><br />
<div style="color: blue;"><span style="font-size: x-large;"><i><b>PLEASE FEEL FREE TO LEAVE A COMMENT!</b></i></span></div><span style="font-size: large;"><br />
</span>Phil Leichliterhttp://www.blogger.com/profile/10709973550569859581noreply@blogger.com0tag:blogger.com,1999:blog-304710277857123832.post-87506105658932863972010-04-26T13:44:00.000-07:002010-04-26T13:51:36.056-07:00Inexperienced Procurement Departments have a Dilemma!As we head out of this recession, there are some historical realities that will occur again in this recovery cycle, just like they have in all past recoveries. What's interesting is that our US economy has been on such a long roll that most of the teams working in Sourcing/Procurement/Purchasing Departments today <strong>have never managed their way out of a recession</strong>. They will most likely be surprised by the two big supplier responses that we'll see in coming months: <br />
<br />
1. Even after a recession has "bottomed-out" and is headed back the right direction, suppliers tend to continue to cut production and inventories for a few quarters into the recovery.<br />
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2. Then, it could be another two quarters before most suppliers begin to rebuild the capacity that was reduced.<br />
<br />
This means that the buyers no longer have the advantage they did a year ago when suppliers are bloated with product and capacity and need to sell "quick and cheap". <br />
<br />
Right now in April, we are already seeing increasing costs in container fees, steel prices and corrugate prices based on supply-demand issues. Just wait another few months! <br />
<br />
Last September, I advised my readership that the time was right to renegotiate all steel products (like store fixtures) for longer term contracts. Container costs were at historic lows, steel prices were bottomed out. If you followed that advice, congratulations! If your current steel product contracts are due to expire this year, you are in for a tough discussion with your CFO!<br />
<br />
In any case, 2010 will be a great year to "Watch your P's & Q's" and play your cards close to the chest.<br />
<br />
<br />
Phil Leichliter<br />
President, <br />
J. Philip Group L.L.C.<br />
<a href="http://www.jphilipgroup.com/">http://www.jphilipgroup.com/</a><br />
<br />
<strong><em><span style="color: blue; font-size: large;">PLEASE FEEL FREE TO LEAVE A COMMENT!</span></em></strong>Phil Leichliterhttp://www.blogger.com/profile/10709973550569859581noreply@blogger.com0tag:blogger.com,1999:blog-304710277857123832.post-40146786704625828182010-04-15T10:06:00.000-07:002010-04-15T10:06:52.706-07:00Common Threads, from What I'm Hearing "Out There"<strong>In conversations with senior management across a broad spectrum of business segments in the past 30 days, I’m hearing a number of “common threads”.</strong><br />
<br />
<br />
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<strong><span style="background-color: #cfe2f3;">1. More with Less.</span></strong> Businesses large and small have become accustom to doing “more with less” and most have no intention of layering back on any of the expense areas they’ve eliminated or reduced just because they see a little light at the end of the tunnel. Expect to see very lean organizations prosper.<br />
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<strong><span style="background-color: #cfe2f3;">2. Many senior Finance Executives are “hunkering down”</span></strong> while they determine the impact of business-hostile programs like “Cap & Trade”, new tax structures, and the cost to employers of the “Health Care Reform” measures. Many are already putting away cash reserves to deal with them. In the past, this cash would have been available for investment in equipment, facilities or human capital.<br />
<br />
<span style="background-color: #cfe2f3;"><strong>3. Long Road Ahead.</strong></span> Very few Senior Executives I’ve spoken with believe that the current stock market performance or retail upsurges are a trend that will continue without significant hiccups. They believe there is a very long road ahead filled with swings in the market, additional business consolidations and failures.<br />
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<span style="background-color: #cfe2f3;"><strong>4. Consumers are gun-shy.</strong></span> They continue to pay down debt and save, rather than spend because they are uncertain about their future. They believe that out-of-control government spending means hyper inflation, tight money, continued low home values, and high unemployment which will be the “norm” for a long while to come. In short, they don’t trust, and I don’t blame them.<br />
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<strong><span style="background-color: #cfe2f3;">5. “Genius’ Beware”.</span></strong> Executives of companies which have benefited from the current economy should beware the false sense of “genius” that many mid-to-lower level managers are feeling. They are being lulled into believing that they are “excellent” at what they do, just because their market segment is prospering. Take stock of your team; ensure they have a firm grip on reality, both of the overall business environment and of their actual contribution to the success of the firm.<br />
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We must be flexible, patient, and use our resources wisely, but the future IS very <strong>BRIGHT </strong>for those who interpret the times for what they truly are. The consumer has always been ready to recognize and reward those providers of goods and services who do the best job!<br />
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<strong><em><span style="color: blue; font-size: x-large;">Please feel free to leave a comment!!</span></em></strong><br />
<br />
<strong><em><span style="font-size: large;">Phil Leichliter</span></em></strong>Phil Leichliterhttp://www.blogger.com/profile/10709973550569859581noreply@blogger.com0tag:blogger.com,1999:blog-304710277857123832.post-4338864974667741262010-02-17T12:26:00.000-08:002010-02-17T12:50:30.766-08:00Respect in the Workplace<div style="text-align: justify;"><span style="font-size:130%;">If you ask a dozen people to define <span style="color: rgb(0, 153, 0); font-weight: bold;">"respect"</span>, you will get a dozen different answers. </span><br /><br /><span style="font-size:130%;">One time, I ask my teenage son to tell me what it was that he DID (actions) to<span style="font-style: italic; font-weight: bold;"> demonstrate</span> respect. He was so frustrated! I was supposed to just UNDERSTAND that he DID respect me. (He shouldn't have to DO anything to DEMONSTRATE respect, right?) I'm delighted to report that a few short years later, he is standing tall, honorable, and RESPECTFUL. (Well... mostly respectful.</span>)<br /><br /><span style="font-size:130%;">Now... let's talk about this concept in the workplace. There are scores of signals we send and receive daily, indicating our level of respect for people, institutions, bosses, co-workers, subordinates, and just "people in general". Most of our actions have two sides; what we "mean to convey" and what OTHERS perceive. Guess what? What we "mean to convey" is irrelevant. The only perception that really matters is what OTHERS believe. How others perceive you determines how successful you will be. </span><br /><br /><span style="font-size:130%;">What are some of the "small things" we do that have a huge impact on the perception others have of us? </span><br /></div><ul style="text-align: justify;"><li><span style="font-size:130%;">Showing up to meetings late.</span></li><li><span style="font-size:130%;">Accepting phone calls while engaged in conversation with others.</span></li><li><span style="font-size:130%;">Texting on your BlackBerry during meetings.</span></li><li><span style="font-size:130%;">Not abiding by "office rules".</span></li></ul><div style="text-align: justify;"><span style="font-size:130%;">These may sound like small things on the surface, but just like the Bible says, "Out of the abundance of the heart, the mouth speaks." (In other words, the way we are inside always shows up in our actions and words.)</span><br /><br /><span style="font-size:130%;">When you have a reputation of showing up late for meetings, what you are saying to others is, "My time is more valuable than yours", or "I really don't respect you." </span><br /><br /><span style="font-size:130%;">Next time you are invited to a meeting, arrive early, and engage. Be THERE for the people who called the meeting. ADD VALUE. Remember, you're just NOT as important as you think you are.</span><br /><br /><span style="font-size:130%;">Please feel free to leave a comment!</span><br /><br /><span style="font-size:130%;">Phil Leichliter</span><br /><span style="font-size:130%;">President</span><br /><span style="font-size:130%;">J. Philip Group L.L.C.</span><br /><span style="font-size:130%;">www.jphilipgroup.com</span><br /><br /><br /><span style="font-size:130%;"> </span><br /></div><br /><input id="gwProxy" type="hidden"><!--Session data--><input onclick="jsCall();" id="jsProxy" type="hidden"><div id="refHTML"></div>Phil Leichliterhttp://www.blogger.com/profile/10709973550569859581noreply@blogger.com0tag:blogger.com,1999:blog-304710277857123832.post-16481717540869880672010-01-18T09:08:00.000-08:002010-01-18T09:30:59.878-08:00The Thrill of the Hunt<span style="font-size:130%;">Conference calls with the team until late at night, pots of <span style="color: rgb(102, 51, 51); font-weight: bold;">coffee</span>, <span style="font-style: italic;">"Version 16"</span> of the PowerPoint presentation, graphs that won't quite fit on the PowerPoint Page, trying to peer into the mind of the client, corporate intel research..... ah, the joys of putting together a bid presentation!<br /><br />Finished the final draft of the presentation for a huge bid opportunity for a client on Saturday night, then did last minute intel research.<br /><br />NOW, to catch up on the scores of other projects that were put on hold during the "presentation crunch"!<br /><br />I LOVE MY WORK!!<br /><br /><span style="font-style: italic; color: rgb(51, 51, 255); font-weight: bold;font-size:180%;" >Feel free to leave me a comment!</span><br /><br />Phil Leichliter<br />J.Philip Group L.L.C.<br />www.jphilipgroup.com<br /><br /></span><input id="gwProxy" type="hidden"><!--Session data--><input onclick="jsCall();" id="jsProxy" type="hidden"><div id="refHTML"></div>Phil Leichliterhttp://www.blogger.com/profile/10709973550569859581noreply@blogger.com0tag:blogger.com,1999:blog-304710277857123832.post-33815360394424995212010-01-12T07:29:00.000-08:002010-01-12T07:54:55.860-08:00Working at HOME how to MAKE IT WORK!<span style="font-size:130%;"><span style="font-weight: bold; color: rgb(51, 51, 255); font-family: trebuchet ms;">Working at HOME!</span> Is it what it's cracked-up to be? </span><span style="font-size:130%;"><span style="font-weight: bold; font-family: trebuchet ms; color: rgb(0, 153, 0);">YOU BETCHA!</span> Coffee from your own coffee pot, breakfast, lunch and dinner with your family, home when you are NEEDED, spending time in the Jacuzzi that you USED to spend commuting.... yes, it's ALLLLL good.<br /><br /><span style="font-weight: bold; font-style: italic;">There IS a CATCH, however</span>...... and MEN have an especially hard time dealing with this "catch". Ya gotta <span style="font-weight: bold;">WORK</span> when you are at home, doing your "home office" thing! Sounds obvious, but it's so tempting to stop for 30 minutes to do this, and stop for an hour to do that, and run a few errands, and before you do it, the day is shot and little-to-no work has been done!<br /><br />I can honestly say I've not struggled (much) with this issue. Before I began working from home, I "read-up" and worked on tactics that make the likelihood of success far greater.<br /><br /><span style="font-weight: bold;">Here are PHIL'S TIPS for "Success Working From Home":</span><br /></span> <ol><li><span style="font-size:130%;"><span style="font-weight: bold;">Create a workspace</span> that is absolutely, positively designated for your work. <span style="font-style: italic;">NOT</span> the kitchen table, <span style="font-style: italic;">NOT</span> the recliner in the family room with your laptop... if you have a spare room then capture it, and turn it into your office. DON'T FOOL AROUND with this one; paint it like an office, decorate it like an office, and equip it like an office. Once you go through that door in the morning, you are "at work". (By the way... the I.R.S. absolutly requires that any space you claim as "Home Office" on your taxes must be fully dedicated to your employeement.)<br /></span></li><li><span style="font-size:130%;"><span style="font-weight: bold;">"GO to WORK"</span>. That's right; get up early, shower, shave (men...*grin*), get dressed and "go to the office". This is far more important for men than women typically. Women seem to be able to get work done in their fluffy slippers and robe, but not men. </span></li><li><span style="font-size:130%;"><span style="font-weight: bold;">Get the family to cooperate. </span> They MUST allow you to work. Put a sign on your door, or close the door if necessary to make the point that you are truly working, and that your ability to earn a living depends on their cooperation.</span></li><li><span style="font-size:130%;"><span style="font-weight: bold;">No, you CAN'T have your game system</span> hooked up in your office. You just can't, because I SAID SO. *grin* (Honestly, do you think anyone BELIEVES you are actually working in there if your game system is hooked up?</span></li></ol><span style="font-size:130%;">Working at home has changed my life, and my wife's life, completely. It is a total blessing from God to be able to work from home. I treat it as a sacred trust!</span><br /><br /><span style="color: rgb(102, 0, 204);font-size:180%;" ><span style="font-weight: bold; font-style: italic;">FEEL FREE TO LEAVE A COMMENT, OK?</span></span><br /><input id="gwProxy" type="hidden"><!--Session data--><input onclick="jsCall();" id="jsProxy" type="hidden"><div id="refHTML"></div>Phil Leichliterhttp://www.blogger.com/profile/10709973550569859581noreply@blogger.com2tag:blogger.com,1999:blog-304710277857123832.post-61647937635195014672010-01-10T19:20:00.000-08:002010-01-11T06:11:17.955-08:00I LOVE what I do! (You should too!)<span style="font-size:130%;"><span style="font-weight: bold;"><span style="color: rgb(51, 51, 255);">I LOVE what I do!</span> </span></span> <span style="font-size:130%;">After decades of developing a career within the <span style="font-style: italic;">"safety"</span> of Fortune 500 companies, I'm now entering my second year in private practice, with my own consultancy.<br /><br />Getting started was "easy". I was so SURE that I could bring to market the skill sets and experience I'd gained over years of developing and executing strategies for these huge companies! After ALL.... I could point to scores and scores of successful projects which I'd handled, any of which should be worth a train-load of cash to any company!<br /><br />I developed a website, a newsletter, and began the process of reaching out to my network. I began to get "traction", but NOT in the areas I was so SURE would be fruitful. After months of working <span style="font-weight: bold;">hard</span> within the assumptions I'd established for my new consultancy, I came to realize that what was needed "out there" were PROBLEM SOLVERS, not "Consultants".<br /><br />Problem Solvers. Many respected associates who were displaced during the downturn sought traditional solutions for finding new employment; they filled out hundreds of resumes and mailed them off. They called friends. They tried to get interviews. They talked to Headhunters. The problem with this approach is that they are were positioning themselves as "Operations Executives", or "Field Management", or "Marketing Executives", etc. etc. etc...<br /><br />What the needed to do was to position themselves as PROBLEM SOLVERS. Target companies they like, and study them. Begin to determine the nature of their challenges.<br /></span><ul><li><span style="font-size:130%;">What are their problems? </span></li><li><span style="font-size:130%;">What are their impediments to growth? </span></li><li><span style="font-size:130%;">What are their human resource obstacles?</span></li><li><span style="font-size:130%;">What are their operational challenges?<br /></span></li><li><span style="font-size:130%;">What does their competition do that creates PAIN for them?</span></li></ul><span style="font-size:130%;"> The bottom line is that in order for us to ADD VALUE to any organization, ALL of us must find a need and fill it. Find a problem and solve it. Rarely do these "needs" or "problems" occur neatly within the confines of some specific job title. Did my extensive background and experience help? Of COURSE! My experience is what made it possible; the KEY was learning to apply my lifetime of knowledge differently.<br /><br />My consultancy is growing, and I am finding ways to help people SOLVE PROBLEMS daily. What a GREAT way to live!<br /><span style="font-size:180%;"><br /><span style="font-weight: bold; font-style: italic;">PLEASE FEEL FREE TO LEAVE A COMMENT!!</span><br /></span><br /><br /></span><br /><input id="gwProxy" type="hidden"><!--Session data--><input onclick="jsCall();" id="jsProxy" type="hidden"><div id="refHTML"></div><input id="gwProxy" type="hidden"><!--Session data--><input onclick="jsCall();" id="jsProxy" type="hidden"><div id="refHTML"></div>Phil Leichliterhttp://www.blogger.com/profile/10709973550569859581noreply@blogger.com0tag:blogger.com,1999:blog-304710277857123832.post-44985455041953923282010-01-10T07:10:00.000-08:002010-01-10T14:37:01.933-08:00Networking in 2010<div style="text-align: justify;"><span style="color: rgb(51, 0, 153);font-size:130%;" ><span style="font-family:verdana;">There is a tremendous amount of emphasis today upon the use of various “Social Networking Sites” as well as Business and Professional sites in order to “grow our networks”.<br /><br /></span><span style="font-family:verdana;">The choices are daunting! Twitter, Facebook, MySpace, Flicker, Pulse, LinkedIn, Spoke…. The number and variety of networks is almost overwhelming, so you must determine what your goals are for the use of networking sites and narrow your focus to a few which are best suited for your style and needs.</span><br /><span style="font-family:verdana;"><br />It’s easy to get caught-up in the huge amounts of information available through these sites, and in fact, I’ve found that I could almost make it a “part time job”! </span><br /><span style="font-family:verdana;">For business use, a very good rule of thumb is to look upon the use of these sites as just another task; a tool you use in your business. Dedicate a specific amount of time you are willing to spend weekly using the sites, and then stick to it. Many people need to evaluate the amount of time they spend now, and ensure they are being productive with that time.</span><br /><span style="font-family:verdana;"><br />Depending upon your vocation, your goals might be to locate and connect with others in your industry, make sales contacts, or find prior business associates and friends. I’ve even located people I had worked with *ahem* 30 years ago! </span><br /><span style="font-family:verdana;">I want to challenge you in 2010 to view networking a little differently than you may have in the past. </span><br /><span style="font-family:verdana;"><br />These sites provide an unprecedented opportunity not only for growth of your business, but more importantly for the growth of true RELATIONSHIPS. </span><br /><span style="font-family:verdana;">All those “names” on your “connections” lists are people. People with challenges, people with problems, people with families. They are people who have jobs or people who are currently between jobs. This is your chance to actually make a difference in people’s lives at very little cost of time or effort on your behalf.</span><br /><span style="font-family:verdana;"><br />I’m a firm believer that what you sow, you reap. There are so many things you can do professionally and personally that cost you nothing, yet add tremendous value to relationships, and oh, by the way will add value to your business as well!</span><br /><span style="font-family:verdana;"><br />Here are some examples of ways you can benefit others and add value to your life through the use of Networking Sites:</span><br /><span style="font-family:verdana;"><br /></span></span><ol><li><span style="color: rgb(51, 0, 153);font-size:130%;" ><span style="font-family:verdana;"><span style="font-weight: bold;">Actively seek to do “recommendations”</span> for people deserving of your praise. Don’t be gratuitous; but when you discover a past associate, take a moment to do a recommendation of their work, if deserving. </span></span></li><li><span style="color: rgb(51, 0, 153);font-size:130%;" ><span style="font-family:verdana;"><span style="font-weight: bold;">When you come across someone you know</span> who is between jobs, reach out to them. Have a brief conversation. If possible, get a copy of their resume and pass it along to colleagues for their possible consideration. </span></span></li><li><span style="color: rgb(51, 0, 153);font-size:130%;" ><span style="font-family:verdana;"><span style="font-weight: bold;">In general, let people know that you are not “just” gathering names</span>, but that you are interested in advantaging others; not just advancing yourself.</span></span></li><li><span style="color: rgb(51, 0, 153);font-size:130%;" ><span style="font-family:verdana;"><span style="font-weight: bold;">After visiting with someone, actively watch for opportunities</span> that match the goals of that person. When you find something that might be of interest, pass it along to them.</span></span></li></ol><span style="color: rgb(51, 0, 153);font-size:130%;" ><span style="font-family:verdana;">This approach may seem “Pollyanna” or naive to many, but believe me, it’s the right way to operate. </span><br /><span style="font-family:verdana;"><br />In the past two years, I’ve had the honor of assisting a number of people connect and get new jobs, and it all started by my reaching out to them in this way. </span><span style="font-family:verdana;">Conversely, I’ve observed the lives of some who have a reputation for stepping on the backs of others in order to get ahead, and it’s pretty amazing to watch their careers over time. Yes, sometimes the bad guys win but more often it’s the GOOD GUYS that win while the “users” meet with frustration and career problems.</span><br /><span style="font-family:verdana;"><br />Take every opportunity to help others; it is always the right thing to do. Take a principled approach to your relationships going forward, and you will reap a lifetime of rich benefits both personally and professionally.</span><br /><span style="font-family:verdana;"><br />I'm genuinely interested in getting to know you personally and professionally. Don’t hesitate to reach out to me at any time with questions or requests! Believe me, I value your “connection”! Contact me at phil@jphilipgroup.com </span></span><br /><br /><span style="font-size:180%;"><span style="font-weight: bold; font-style: italic;">PLEASE FEEL FREE TO LEAVE ME A COMMENT! </span></span><br /></div><input id="gwProxy" type="hidden"><!--Session data--><input onclick="jsCall();" id="jsProxy" type="hidden"><div id="refHTML"></div>Phil Leichliterhttp://www.blogger.com/profile/10709973550569859581noreply@blogger.com1tag:blogger.com,1999:blog-304710277857123832.post-81632997089307103842010-01-09T09:18:00.000-08:002010-01-09T09:25:05.683-08:00Greetings! This is my first post, my first attempt at "blogging". I'm so filled with hope and anticipation for this new year! I intend to use this blog as an avenue to share insights and ideas in all the areas of my life; career, networking, I believe that my interactions and relationships with hundreds of people from a very diverse and eclectic universe of friends and associates will provide insight and items of interest to all who may honor me by visiting my "blog page". <br /><br />Phil<br /><input id="gwProxy" type="hidden"><!--Session data--><input onclick="jsCall();" id="jsProxy" type="hidden"><div id="refHTML"></div>Phil Leichliterhttp://www.blogger.com/profile/10709973550569859581noreply@blogger.com0