Some major recognition for several Big 50 List companies from Fortune Magazine, a new player in the industrial B2B market, and the long-awaited end to the West Coast Ports labor standoff are included in this week's top items.
Here's this week's Top 5:
Big 50 Companies Airgas, Grainger, And Wolseley Named 'Most Admired' By Fortune: On Monday, Fortune Magazine unveiled its 2015 "World's Most Admired Companies," a reputation-based ranking of companies around the globe. The diversified wholesaler category included six companies, three of which are on Industrial Distribution's 2014 Big 50 List. Included in the feature's diversified wholesaler category were Airgas, Genuine Parts Company, Graybar, Grainger, Rexel, and Wolseley.
Tentative Contract Reached In West Coasts Ports Dispute: After nine months of standoff talks between dockworkers and their employers, negotiators reached a tentative contract covering West Coast dockworkers last Friday evening, likely ending a protracted labor dispute that snarled international trade at seaports handling about $1 trillion worth of cargo annually. The ports are now in the midst of clearing up a massive backlog of cargo. Put in a line, the containers would stretch 579 miles at the time the deal was reached.
Litigation Abounds When Competitors Hire One Another's Employees (article):Fred Mendelsohn discusses the legal ramifications to be aware of in the hiring process when ecruiting or even employing new employees from competitors.
Motion Industries' Bill Stevens In Final Week Leading Company: Last November, Genuine Parts Company announced that Motion Industries' Chairman Bill Stevens gave notice of his March 1 retirement. That means Saturday is Stevens' last day leading the company after a 37-year career with it. But the MRO parts distributor, and No. 9 on the Big 50, appears to be in good hands as Tim Breen is set to take over after working closely with Stevens over the past two years to ensure a smooth transition.
India Gets In On Industrial B2B As IndustryBuying.com Raises $2 Million: Venture capital investor SAIF Partners announced Wednesday it has invested $2 million in Dehli, India-based industrybuying.com, an e-commerce seller of industrial material. The year-old company claims to host more than 500 brands, 1,000 suppliers, and 150,000 products. It is said to be India’s first large-scale e-commerce industrial products provider.