After the May 21, 2007 announcement that Kioritz Corp. (Echo’s parent) and Shindaiwa were forming an alliance to seek operational and product synergies, I assumed that it would not be long before a more formal union was announced. Eleven months later, on April 14, 2008, Kioritz and Shindaiwa announced plans “to form a joint holding company which will own and operated the two companies (Echo and Shindaiwa.”)
The announcement went on to say that “Selective trading of existing products has already started and joint development and advanced engineering will commence soon. The companies have also begun cooperation on various operational matters including purchasing, production, computer systems, and logistics.”
“Existing shares of Kioritz and Shindaiwa common stock will be exchanged for shares of the newly formed holding company on or about December 1, 2008.”
So if it sounds like a merger, and looks like a merger, then I’m going to call it a merger of two strong companies with two strong brand names. And because of this merger, the support, the products and the strength of the brand names will only become stronger.
I hope we’ll be seeing more “strategic alliances,” “mergers” and “joint ventures” in the future that are crafted as carefully as this one appears to have been. If it strengthens the industry, it will receive my vote of support.
In Jim Citrin’s Blog “Leadership By Example,” he recently wrote about “the importance of having a small group of professional and personal relationships to serve as your sounding board, brain trust or personal board of directors.”
Citrin went on to say: “Students of leadership and history know that this advice isn't new. From Alexander the Great to Elizabeth I to Andrew Carnegie, many of the most successful people have created small circles of trusted people to help them think through important issues.”
“Napoleon Hill, the great-grandfather of the motivational movement, coined the term ‘Master Mind group’ to describe this strategy. After working closely with steel magnate Carnegie for over two decades, Hill wrote in his seminal work ‘Think and Grow Rich’ that one of the keys to Carnegie's success was relying on his personal network to challenge key assumptions, develop alternative courses of action, and support him in his strategy development and decision-making.”
“The benefits of building your own personal board of directors are both professional and psychological, as your advisors will not only help keep you on the right track but also become invested in your success. So how do you go about building your board, and how can it help?”
“It's advisable to build a group that consists of people both inside and outside your own organization. You can speak to them individually or host quarterly or annual dinners to bring them together.”
“Ask yourself these questions: Who are the mentors that have helped support you so far? Which friends or family members have been most consistently accurate and dispassionate with their advice over time? Who are the most respected analysts, journalists, or consultants that cover your industry? How can you be helpful to them so that they in turn are motivated to be helpful to you? Who are the few people you should inform of your recent successes?”
“The more you find these people and figure out how to be valuable to them, the more they'll become invaluable to you. Ask them to review an assessment of your own strengths, weaknesses, and action plans, imploring them to be honest and direct. Getting valuable advice can literally change the course of your career and life.”
Rodney Rom from Rom’s Reworks in Butler, MO, liked the quote in February’s AD column from Denzel Washington’s mother about what is truly important in our daily lives. Rom shared his father’s philosophy that Rodney still lives by today: “No matter how many material possessions you accumulate in your lifetime, the only thing you will ever truly own is your reputation.” Thanks for sharing your father’s words of wisdom, Rodney.
Is there a family philosophy or thought that guides how you live your life or run your business? Send it to my email address with your contact information and I’ll share some of the best with the rest of our OPE Magazine readers. Perhaps it will also be an inspiration to other readers.
The announcement went on to say that “Selective trading of existing products has already started and joint development and advanced engineering will commence soon. The companies have also begun cooperation on various operational matters including purchasing, production, computer systems, and logistics.”
“Existing shares of Kioritz and Shindaiwa common stock will be exchanged for shares of the newly formed holding company on or about December 1, 2008.”
So if it sounds like a merger, and looks like a merger, then I’m going to call it a merger of two strong companies with two strong brand names. And because of this merger, the support, the products and the strength of the brand names will only become stronger.
I hope we’ll be seeing more “strategic alliances,” “mergers” and “joint ventures” in the future that are crafted as carefully as this one appears to have been. If it strengthens the industry, it will receive my vote of support.
In Jim Citrin’s Blog “Leadership By Example,” he recently wrote about “the importance of having a small group of professional and personal relationships to serve as your sounding board, brain trust or personal board of directors.”
Citrin went on to say: “Students of leadership and history know that this advice isn't new. From Alexander the Great to Elizabeth I to Andrew Carnegie, many of the most successful people have created small circles of trusted people to help them think through important issues.”
“Napoleon Hill, the great-grandfather of the motivational movement, coined the term ‘Master Mind group’ to describe this strategy. After working closely with steel magnate Carnegie for over two decades, Hill wrote in his seminal work ‘Think and Grow Rich’ that one of the keys to Carnegie's success was relying on his personal network to challenge key assumptions, develop alternative courses of action, and support him in his strategy development and decision-making.”
“The benefits of building your own personal board of directors are both professional and psychological, as your advisors will not only help keep you on the right track but also become invested in your success. So how do you go about building your board, and how can it help?”
“It's advisable to build a group that consists of people both inside and outside your own organization. You can speak to them individually or host quarterly or annual dinners to bring them together.”
“Ask yourself these questions: Who are the mentors that have helped support you so far? Which friends or family members have been most consistently accurate and dispassionate with their advice over time? Who are the most respected analysts, journalists, or consultants that cover your industry? How can you be helpful to them so that they in turn are motivated to be helpful to you? Who are the few people you should inform of your recent successes?”
“The more you find these people and figure out how to be valuable to them, the more they'll become invaluable to you. Ask them to review an assessment of your own strengths, weaknesses, and action plans, imploring them to be honest and direct. Getting valuable advice can literally change the course of your career and life.”
Rodney Rom from Rom’s Reworks in Butler, MO, liked the quote in February’s AD column from Denzel Washington’s mother about what is truly important in our daily lives. Rom shared his father’s philosophy that Rodney still lives by today: “No matter how many material possessions you accumulate in your lifetime, the only thing you will ever truly own is your reputation.” Thanks for sharing your father’s words of wisdom, Rodney.
Is there a family philosophy or thought that guides how you live your life or run your business? Send it to my email address with your contact information and I’ll share some of the best with the rest of our OPE Magazine readers. Perhaps it will also be an inspiration to other readers.
