Preliminary Injunction Hearing on the Sale of Ikon Office Solutions, Inc. to Ricoh Company, Ltd.

NEW YORK, Oct 23, 2008 (GlobeNewswire via COMTEX) -- The Brualdi Law Firm, P.C. announces a preliminary injunction hearing has been scheduled for Monday, October 27, 2008

The class action lawsuit was filed on September 23, 2008. The Complaint alleges that the proposed sale of Ikon to Ricoh protects the interests of Ikon's directors and Ricoh at the expense of Ikon's public shareholders. The Complaint also alleges that the directors concealed material information from plaintiff and Ricoh's other public shareholders in conjunction with the same.

HP IPG Re-Org

Leaner and Meaner?

I ran across this quick article about the IPG reorg.

As I have mentioned, there a lots of new faces. Faces from all over the world, current HP folks, who are now going to create "something from nothing" - a Value Added Printing channel. (wow)

All part of the Plan - “a printer company to a printing company,” according to IPG chief Vyomesh Joshi.

We are waiting for the year to end (October) to see what new "goodies" are waiting for "those who stayed..."

HP - Above the Fray...

HP Layoffs -

Selling and U of M Football

Carpou Goes to Profit Recovery Partners

IKON Veteran Joins Profit Recovery Partners

Posted by Apply Best Credit Card in Monday, October 27th 2008 under: News

All PR Newswire news

IRVINE, Calif., Oct. 27 /PRNewswire/ — Profit Recovery Partners (PRP)

announced today that Bill Carpou has joined the company’s senior executive

team as vice president of sales and marketing. An industry veteran with more

than 18 years of experience, Carpou most recently served as area vice

president and general manager for IKON Office Solutions’ Southern California

operations, headquartered in Irvine, Calif.

Carpou joined IKON in 1990 as vice president of sales for the company’s

Philadelphia operation, and later became vice president of sales and marketing

for the company’s Northeast region. After relocating to Laguna Niguel, Calif.,

in 1998, he assumed responsibility for IKON’s Southern California operation, a

position he held until March 2005 when he transferred to the company’s

headquarters in Malvern, PA, to become vice president of marketing for IKON

North America. Carpou accepted his most recent position as area vice president

and general manager after returning to California in August 2007.

“Bill’s experience and credibility will further support the growth

objectives of PRP over the next 10 years as we expand the services we provide

to our existing and new customers,” said Don Steiner, president of PRP.

Carpou added, “I am thrilled to be part of one of the fastest-growing

companies in Southern California. PRP’s business model, which combines the

expertise of our staff with our long-term verification and support system

program, allows us to fully understand and meet the requirements of each

customer, regardless of their size or industry.”

Summary

Profit Recovery Partners (PRP) is a national consulting organization

headquartered in Irvine, California. It specializes in the development,

implementation and support of administrative expense reduction solutions for

Fortune 1000 and other middle market companies. Since its inception in 1997,

PRP has served its clients by producing competitive, lean cost structures

through the application of proprietary procurement management methodologies,

and by leveraging unique vendor knowledge and purchasing power.

SOURCE Profit Recovery Partners

Copyright 2008 PR Newswire

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Crime Blotter Update:Bribes and Ricoh

Mount Vernon SD official convicted of bribe receiving, official misconduct

My post dated May 24th now has an ending - of sorts.

From the Mid Hudson News:

"WHITE PLAINS – The former head of purchasing for the Mount Vernon City School District was convicted Friday of bribe receiving, official misconduct and receiving unlawful gratuities.

Arthur Rose, 49, of Mount Vernon, was convicted in Westchester County Court on two counts of bribe receiving as felonies, three counts of official misconduct as misdemeanors and one count of receiving unlawful gratuities as a misdemeanor.

Between mid-June and mid-July 2005, rose, the former head of purchasing at the school district, accepted a bribe of $3,500 from a sales representative of Ricoh Americans Corporation for his assurance that the company would receive a five year contract from the district for 73 digital copiers, support products and related services.

On August 3, 2005, based on Rose’s recommendation, the school district gave Ricoh the contract which exceeded $1 million.

Between June and September 2006, Rose solicited and received a bribe in the form of a $10,000 donation to his church from the owner of Tri-State Supply Company, a custodial supply company, in exchange for future business, which was later awarded.

When sentenced, Rose faces up to seven years in state prison."

Picture over on Print4Pay.

The Good, The Bad and The Ugly - for just 73 copiers **UPDATED***

Copiers and Crime...This Stuff Can Not Be Made UP

Copier Crime - From the "Dirty D"

The Office of the Future -

...As seen from the year 1975 EXECUTIVE BRIEFING June 30, 1975, 6:43PM EST 

 "...Will the office change all that much? "

Listen to George E. Pake, who heads Xerox Corp.'s Palo Alto (Calif.) Research Center, a new think tank already having a significant impact on the copier giant's strategies for going after the office systems market: 

"There is absolutely no question that there will be a revolution in the office over the next 20 years. What we are doing will change the office like the jet plane revolutionized travel and the way that TV has altered family life." 

The Economic "Crisis" Hits Home - American Express

Oh, how the mighty have FALLEN.

Up until today, I had only "heard" of companies having challenges getting credit. 

For instance, I have seen reports of a company unable to secure a 20k lease for one copier; although they were very creditworthy. 

But today, I spoke with small businesses with a superior credit ratings, and long relationships with their banks and American Express. I mention AE because of their ad campaigns pitching directly at small businesses. 

The Gold, Platinum, Blue, and the newest, Plum. First. An owner of a small business has an 800+ FICO and enough cash in the bank to choke a horse was refused a mortgage on a $60,000.00 cabin in the woods. He could have purchased 5 cabins that day with cash. 

But like any savvy business person, he wanted to use the bank's money - denied. 

 Additionally, he uses American Express to purchase inventory. And with his inventory turns at 30 days, "floating" the cost on an AE card makes sense, and earns him points. His limit was reduced from $65,000 to $16,000.00 in a day; then reduces again to 10k.

OK, now this customer is not complaining - I will do that for him - and I am kinda torn. I actually DO understand American Express's position - credit EVERYWHERE is tightening up, so they need to as well. But - small businesses all over the country have been using AE exactly like this customer and American Express has been urging companies to utilize credit in this manner. Throw in the fact that they are reducing limits without prior notification and get an even bigger mess; a customer service mess. 

My Point - as agents of change, you need to help your clients more than ever before. Help them through difficult times. And it is not easy. Times are tough. This "recession" is not going to last forever and when the turnaround comes, we should all remember who was there with us.