Fortune 500 Global

NEW YORK (Dow Jones) – In response to the significantly dampened consumer confidence have turned the prices of U.S. Treasuries on Friday during the Plus and in the late New York business friendly shows.

Ten-year securities with a coupon of 3.625% rose by 8 / 32 to 99-13/32, and yielded 3.70%. The compounded with 4.625% Long Bond moved smoothly on 22/32 at 100, its yield fell to 4.62% in order.
The calculated at the University of Michigan index of consumer sentiment in the United States had dropped to 72.5 in March to 73.6 in the previous month, economists had expected the index level in 73.8. Since approximately 70% of U.S. GDP has depended on private consumption, market data very seriously, it said in the trade. However, private consumption also provided encouraging signs, which had dragged the bond market initially. The U.S. retailers have posted in February, despite the snow storms and contrary to the expectations of rising sales.
"With the data on consumer confidence has gone a lot of money in the long end of the market," said a dealer pension. With the previous case, the U.S. bonds in the wake of the positive retail revenue yields were moved to a level that had then attracted particular asset managers. "Life insurers and pension funds value the 30-year paper at this level continues to be," added Richard annuity distributors Volpe RBS Securities.
Market participants have also been addressed, but the look on the Open Market Committee meeting of the Federal Reserve, as voices from the trade. While there is little doubt in the market that the Fed will confirm their extremely low interest rates. However, the choice of words was carefully examined for possible clues about the timing of the turnaround in interest rates, dealers said.
To the news that U.S. President Barack Obama, Janet Yellen, the president of the Federal Reserve in San Francisco fit wants to elect Vice-President of the U.S. Federal Reserve. It is regarded as a clear advocate of low interest rates to overcome the crisis. Personnel on the market this has fueled expectations that a turnaround in interest rates is still far off.

  DJG / DJN / flf 

MUNICH (AFX) – EU Economic and Monetary Affairs Commissioner Olli Rehn sees the EU because of the debt crisis of Greece at the crossroads.

"If Greece and the European Union, the collapse is not prevented, we are seriously and our long-term international Lose credibility, "Rehn said the" Sueddeutsche Zeitung "(SZ — Saturday edition). The common currency union is not only a monetary system, "but the crucial political project of European Union. "On dealing with the biggest debtor of the Monetary union decide whether the states are willing to politically closer together. "Greece is our direct Challenge, "said Rehn.
The Commissioner announced a proposal to "better Supervision and coordination of fiscal policies of EU states to. The Plan, therefore, be more intervention and more stringent sanctions against defaulting debtor countries before. The countries of the euro group to their Coordinate economic policies more closely to the "alarming" Reduce tensions between them, Rehn told the newspaper.
The Monetary Affairs Commissioner, expressed support for the thrust of Federal Finance Minister Wolfgang Schäuble (CDU), a European To establish Monetary Fund. Unlike Schauble Rehn wants this, but in  the EU Commission and not settle for the Eurogroup. Potential Sinners should not depend on current sinner, "he said.
In the case of Greece, the 16 euro countries, according to the "SZ" agreed on an assistance plan if Greece’s debt market  can not refinance. The plan should at the meeting on Monday  Euro Finance Ministers to be adopted, the paper reported , citing diplomatic sources. Plans are therefore bilateral  Loans and loan guarantees.
Website: www.sz.de
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Toyota Logo: The image of the auto maker is grazed by margins Series. Source: Reuters

HB SANTA ANA, USA. Because of ongoing problems with Toyota vehicles, the prosecutor has filed in California’s Orange District action against the carmaker. She accuses Toyota, knowingly hundreds of thousands of cars with defects have sold in the gas pedals. District Attorney Tony Rackauckas said on Friday in a press conference that his agency has the right to object on behalf of the residents of Orange consumer action.

The prosecution alleges that Toyota, to have used deceptive business practices to the world’s leading car makers. "We want to know that Toyota has, in his relentless quest to become the number one car maker in the United States, made the profit over people asked?" Rackauckas.

Reasons are jammed accelerator pedals, among other things, skidding mats and faulty software on the brakes. The U.S. authorities have put 52 deaths attributed to accidents that should have been triggered by problems with the gas pedal. At least 89 class action lawsuits have been filed against Toyota.

The prosecution said it wanted to achieve fines of $ 2500 for each violation of the Act, plus fees and other costs. The penalties could add up to hundreds of thousands or million dollars. The prosecution had secured the support of a law firm. This had already been sued in the 1970s, the car maker Ford and fought for millions of dollars.

Worldwide, Toyota has recalled more than eight million cars, to judge accelerator pedals and floor mats with them. Most of the affected vehicles are registered in the U.S.. Because short-term intermittent brakes had half a million hybrid cars in the garages.

In Germany alone, the recall campaign costing 13 million euros. The Germany boss Alain Uyttenhoven counted in the new edition of "Business week before." The recalls and negative headlines have clearly pressed the Toyota sales in Germany. "Without them we would sell an estimated 20 percent more," said the manager.

The millions Sum clear from repair costs of around 30 per vehicle plus marketing expenses in a similar amount.

Most of the 216 000 vehicles that are recalled in this country, wants to have repaired Toyota Germany until the end of April.

Anger at the vending machine: Many a bank proposes properly in the fees. Source: Reuters

HB HAMBURG. According to the charge of excessive ATM fees, the Federal Cartel Office examines more than 280 banks in Germany. On the banks had been sent questionnaires, "said a spokesman for the Cartel Office the business newspaper Euro am Sonntag. Until the end of March should be decided whether a formal procedure is initiated.

Was tested whether the banks for cash withdrawals at foreign ATMs excessive fees to customers or require other banks, it said. "The Federal Cartel Office Complaints have been received from individuals and banks about the level of charges," said the spokesman. The investigation focused only nationally operating institutions in regions in North Rhine-Westphalia, Hesse, Lower Saxony and Bavaria. It related to private institutions, savings banks and cooperative banks.

Gerd Kerkhoff is one of the best shopper in Germany. Source: Press Photo

Handelsblatt: Mr. Kerkhoff, Purchasing Consulting has so far had not exactly a sexy image. In the crisis is the time for cost optimizer. Companies have realized how essential purchase?

Gerd Kerkhoff: For years now I preach against the "grave billion purchase. Manager and consultant colleagues have often ridiculed. They would rather developed visionary strategies, look for ways to increase sales. But the reality is: a euro saved in purchasing replacing ten euros in additional sales. Not until the crisis has fallen on many of the pennies.

Your costs investigators sift through the shopping lists of companies from the machine to the pencil. How much can be saved as?

On average, nine to ten percent – depending on the industry and business. This immediately brings cash. And quite incidentally secures jobs. Production Manager, have long been streamlined and optimized, where? S only goes shopping but they have usually not on the screen.

Which companies can save the most?

Service providers such as insurance companies often do not even know that they are multi-million dollar purchases. Fluorescent lights, computer, toilet paper – just makes sheep dung.

Which job is you particularly remember?

In 2007, we have won the global tender for the UN to optimize its 14 New York buildings, the cleaning service. Our concept is convincing: It does not matter, is cleaned, how often, but only on the cleanliness.

How did you Help? Her father was sales manager. If the haggling in the blood?

After studying business administration in 1984 as CEO, I went to the coffee-roasting an academic friend, Hubert Tempelmann in Dorsten. We were selling coffee as a brand to major food chains. Representatives of Jacobs coffee were always admitted to wait – I had to. That irked me. So I tickled out peu à peu of the stores, how much they paid for a kilo of "Jacob’s coronation. The difference was huge – but everyone was absolutely convinced he had the best price!

And woke your business sense …

I bought one of the largest retail chains a truck load "Jacobs from Coronation" and sold them to other stores next – at manufacturer’s price, but at a profit. That was revolutionary at the scene. "Brand below cost," the headline in the newspaper food. I’ve made a lot of furore. Yet I have used only the price spread. On the simple idea had not previously reached.

A profitable business?

Certainly. The game I repeated with many other brand name products. But eventually I felt that too boring. I got an offer to direct a board to the purchase of a large retail chain. I would rather be independent. So they engaged me as a consultant. Frankly, I had never met one. In all cases, a flip chart here, I thought, a little naive.

After the fall of the wall have been particularly asked …

The Treuhand has charged me, the East German HO and wholesaler of consumer advice. Which had been carved out of several brands from the West over the ear. Vices, they were foisted on the moon where goods prices.

20 years later you have overseas offices in nine countries. How global sourcing is now?

You would not believe how widespread nor the proverbial "shopping around the tower is". Especially in the middle class. Everyone knows everyone and is just barely growing supply relationship into question. So sleepy buyer that the screw or packing somewhere else far far less cost.

For buyers you and your advisors should indeed be a red flag.

Buyers are often frustrated because they are degraded to simple Bestellabwicklern. We awaken their negotiating skills. To grow their self-confidence and standing in the company. Purchasing management is very complex. You need to keep the markets throughout the supply chain in the eye. At the University of St. Gallen, we have therefore sponsored a Center for Supply Chain Management. We want to improve research and training in purchasing.

Baksheesh often determines which supplier the contract will be awarded.

Sure, buyers are sometimes susceptible to bribes – especially periods when they are in the company an unobserved shadow existence. Mostly we are looking through global electronic tendering of the cheapest suppliers. We cut old boy networks. The award will be much more transparent.

If the world’s cheapest comes into play, such as environmental and social standards should be secured?

In order to be up close, as we have offices in China and India. Social and environmental safeguards may include company as a break-up clause in contracts. However, playing for 40 percent of the purchasing chief environmental, social standards for 25 percent of a marginal role. We have recently identified by Allensbach poll. Really frightening. Since a lot has to do.

During the recession, many suppliers are sitting at the shorter lever. Spanned many buyers the bow?

Price-cutting can easily backfire. We have seen some insolvent automotive suppliers. And it shows how risky is a single-vendor strategy. A missing part can cripple the entire electronics production.

They are professionally involved in a savings fox. Bargaining as a private citizen like you, at a discount?

In the company my wife is responsible for finances. Sure, we want to keep costs low and flexible. The offices are leased only about floor by floor. And our consultants to make a sport of rauszuschlagen favorable conditions in the hotel. But whether you? S believe it or not: private bargaining is too stupid to me.

Kerkhoff Consulting: "hidden champion" of the shopper

DUSSELDORF. The sum sounds impressive: around three billion euros have saved the consultants of Kerkhoff Consulting, over the years for its clients through smart shopping. Cost-cutter who in the crisis economy. But Provides an optimized supply chain companies cash immediately.

As a "Krisengewinnler" boasts Chef Gerd Kerkhoff Consulting is not. Although grew its purchasing consultancy Kerkhoff Consulting 2009 by around 16 percent to about 33 million euros.

Eleven years ago, founded the Kerkhoff Consulting in Dusseldorf. With prices knows, the native of Essen, who imported from the Ruhr can not hide from. For many years he had made with the resale of branded products to retail companies do good business. He took advantage of the price target from spreading.

Today Kerkhoff Consulting has 215 people in nine countries. As managing partner, he and his wife Stefanie hold a majority stake in the company. There are offices in Vienna, Warsaw, Shanghai, Mumbai, Istanbul, Sao Paulo, Johannesburg and more recently in St. Gallen. Procurement is just a global business.

Although Kerkhoff by jetting halfway around the world to negotiate with suppliers to adopt the tall 52-year-old stressed-earth. Gerd Kerkhoff is in the industry as a pragmatic maker who speaks plain text, but also now rolling up his sleeves and gets going. Dietmar Fink, professor of business and economics at the University of Bonn Rhein Sieg, "Kerkhoff stands for clear, measurable results. He is a big hit especially in medium-sized."

They’re also for its major customers: Whether Nobel Siematic kitchen manufacturers, Gothaer insurance, print, or the baker Lambertz Hamburg Elevated – they all have to optimize their procurement of Kerkhoff. Even companies like Thyssen Krupp Kloeckner, or are customers.

Kerkhoff Consulting 2009 was honored as a "hidden champion" in terms of purchasing advice. Dietmar Fink, who is considered "the German TÜV consulting industry", had identified them. Above all, appreciate the CEOs Kerkhoffs work. They measure a higher competence in consulting as the heavyweights McKinsey, Roland Berger and Boston Consulting. Also Kerkhoffs competitor is here BrainNet Top Two afford to work in sales are neck-and-neck race. BrainNet headquartered Bonn recently generated 30 million euros, the fiscal year ends in June. ‘This year we expect an increase of about 20 percent, "says Sven Marlinghaus of BrainNet. The consultancy has 220 employees at 13 locations worldwide. There is in addition to medium-sized over 80 Fortune 500 companies among its customers.

The Cologne Shopping Advice Inverto follows in terms of turnover with a little distance. She could benefit from the boom in demand little. The 100 employees recently earned about 20 million euros, equivalent to what at best stagnating.

In the solicitation of new customers takes Kerkhoff often hesitant to the following funds: For a long time, he offers to link parts of his fee to the success of the project. It also gives the guarantee: "Our advisory fee is never more than half of what the customer saves in the first year."