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000-R03 - IBM SurePOS 700 Technical Mastery - Dump Information

Vendor : IBM
Exam Code : 000-R03
Exam Name : IBM SurePOS 700 Technical Mastery
Questions and Answers : 31 Q & A
Updated On : December 7, 2018
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000-R03 Questions and Answers

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000-R03 IBM SurePOS 700 Technical Mastery

Study Guide Prepared by Killexams.com IBM Dumps Experts


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000-R03 exam Dumps Source : IBM SurePOS 700 Technical Mastery

Test Code : 000-R03
Test Name : IBM SurePOS 700 Technical Mastery
Vendor Name : IBM
Q&A : 31 Real Questions

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IBM IBM SurePOS 700 Technical

Wakefern and IBM group to replace keep event in ShopRite retailers | killexams.com Real Questions and Pass4sure dumps

supply: IBM

January eleven, 2008 17:19 ET

ARMONK, the big apple--(Marketwire - January eleven, 2008) - IBM (NYSE: IBM) introduced nowadays that it's working with the Wakefern meals employer to set up superior IBM point-of-sale (POS) systems, utility and infrared contact shows.

A contemporary IBM examine of the grocery business recognized customer adventure as a prime driver of loyalty. With trendy announcement, Wakefern is relocating to deliver probably the most superior performance and know-how to ShopRite retailers, permitting employees to bring a more robust shopping experience to buyers.

"ShopRite outlets have always supplied our consumers with optimum comfort, competitive fees and creative products and functions," said Alan Aront, vice president of guidance programs, Wakefern. "The performance, reliability and open specifications that we're imposing with IBM utility and hardware will permit us to convey chronic improvements to our customers in much less time."

In collaboration with IBM and Agilysys, an IBM company companion, Wakefern will install IBM's SurePOS utility customer/Server environment (ACE), an application that optimizes customer carrier and improves reliability on the point-of-sale equipment, and IBM's save Integrator on the IBM 4690 working system. store Integrator is designed to help maximize client service and associate productivity, and is a part of IBM's save Integration Framework (SIF). SIF provides an entire, bendy and mighty retail-optimized infrastructure to boost save-headquartered processes and fasten them with the enterprise.

ShopRite retailers also will be upgraded with IBM SurePOS seven hundred POS terminals and servers and IBM SurePoint 4820 touch displays in any respect assess-out lanes.

Wakefern is the usage of an IBM electronic advertising commercial enterprise (EME) solution aimed toward enhancing its customer loyalty program. The EME answer offers ShopRite employees instant access to consumer statistics, and a straightforward means to advertise presents and deliver customized advertising messages in the store prior to checkout.

The agreement between both organizations was signed in December of 2007.

About Wakefern food employer:

Wakefern meals business enterprise is the nation's biggest retailer-owned grocery cooperative, featuring capabilities to one hundred ninety ShopRite retailers in New Jersey, ny, Connecticut, Pennsylvania and Delaware.

About IBM Retail save solutions:

With more than 30 years of aspect-of-sale (POS) market management, IBM and its community of IBM company companions deliver marketers of all sizes shop solutions, together with creative hardware and application items and a huge array of consulting and technical capabilities that can assist boost earnings and reduce expenses. For extra counsel about IBM Retail store solutions, please consult with www.ibm.com/retail


textual content-IBM to collaborate with Retalix unit StoreNext | killexams.com Real Questions and Pass4sure dumps

(here turned into issued via IBM (IBM.N) and Israel’s Retalix Ltd RTLX.O RTLX.TA):

April 30 - IBM (NYSE: IBM) nowadays introduced that it will work with StoreNext Retail technologies LLC, a subsidiary of Retalix Ltd. (NASDAQ: RTLX), to market pre-packaged retail options powered by using IBM element-of-sale techniques for independent and regional chain grocers.

StoreNext, the leading service provider of retail know-how to independent grocers and regional chains, will now add IBM point-of-sale (POS) terminals to its solutions portfolio.

Retalix and StoreNext software applications on powerful IBM POS gadgets will provide shoppers more suitable flexibility and selection to meet their IT necessities, and permit StoreNext with IBM to extend its leadership to untapped markets in this area.

“this is an exciting probability for us,” mentioned John Gaydac, vp, IBM Retail save answer revenue, Americas. “we are happy to be working with a market leader like StoreNext and its broker network to prolong our attain into the SMB market. StoreNext’s grocery purposes coupled with IBM hardware allows for both organizations to greater serve this crucial phase, and including this new channel and solution to our latest ACE unbiased grocery providing offers unbiased grocers with the widest set of options feasible.”

“It changed into time to prolong the IBM-Retalix relationship by means of pairing StoreNext’s application with IBM’s terminal hardware,” said Ray Carlin, president and CEO of StoreNext. “The market is demanding hardware option, and this partnership will carry magnificent cost and an impressive manufacturer to key market segments corresponding to convenience outlets and unbiased grocers.”

The agreement requires StoreNext to market IBM SurePOS retail terminals with StoreNext ISS45™ and ScanMaster® grocery point-of-sale software solutions. The business will also bundle the IBM structures with the Retalix StorePoint™ POS answer for the convenience-gas retail market.

The ScanMaster and ISS45 techniques are totally integrated with IBM’s SurePOS 300, SurePOS 500 and SurePOS 700 terminal lines.

the brand new grocery packages can be found instantly from StoreNext’s nationwide reseller network. programs combining Retalix StorePoint C-keep utility with the IBM hardware should be released this summer.

With this announcement Retalix/StoreNext turns into the first solution issuer to be part of the IBM Retail store solutions business Remarketer program, additionally announced nowadays.

The collaboration with IBM offers StoreNext buyers entry to the trade’s leading point-of-sale technology. It allows for IBM to extend its attain into the impartial grocery phase via an in depth StoreNext network of native buyers serving a variety of consumers, from the smallest impartial keep operator to grocery chains of up to a hundred-plus outlets.

The announcement is part of a world IBM campaign to create and deliver most desirable, economical, convenient-to-put into effect options for small to mid-sized companies, one of the crucial industry’s quickest growing IT segments.

In January, IBM announced a joint initiative with Retalix, StoreNext’s Israel-based mostly dad or mum business, to supply built-in business administration solutions according to the IBM faraway administration Agent and Retalix computerized software to aid grocery and convenience shop shoppers centrally control their point-of-sale programs, purposes and other features of their retail information facilities.


Microsoft and IBM to Collaborate on a Pre-installed windows Embedded-primarily based aspect-of-carrier answer for the Retail and Hospitality Industries | killexams.com Real Questions and Pass4sure dumps

REDMOND, Wash. — Feb. 26, 2008 — Microsoft Corp. these days announced that it's working with IBM Corp. to bring an impressive home windows Embedded-based plug-and-play solution to assist make it quicker and less difficult for sellers and hospitality organizations to convey counsel and features to time-mindful, empowered buyers.

in line with both groups, Microsoft’s home windows Embedded for factor of carrier working system will come pre-loaded on IBM element-of-sale, self-checkout and self-provider kiosks offerings. The combined solution gives marketers and hospitality operators with a simple, convenient-to-manage aspect-of-carrier platform for empowering worker's, and connecting patrons to products and information in a seamless, integrated retail ambiance.

“here is about assisting our purchasers win within the market by using proposing them a decision of options to enable them to greater correctly control their organizations, and more suitable serve more and more worrying patrons,” referred to Alan Outlaw, company line government, IBM element-of-Sale solutions. “home windows Embedded for factor of provider offers us yet a different alternative for purchasers who are looking to add windows as a part of their IT infrastructure.”

Microsoft windows Embedded for element of carrier is some extent-of-service operating gadget platform in accordance with Microsoft home windows technologies optimized for the retail trade. it is the first factor-of-provider working device to provide plug-and-play functionality for retail machine peripherals, with IBM being a number one retail supplier to present windows Embedded for point of carrier as a pre-installed alternative to its client.

home windows Embedded for factor of provider is offered pre-put in on IBM wherever Kiosk, Self Checkout and SurePOS seven hundred, 500 and 300 factor-of-sale programs, IBM’s premier open device hardware systems for the retail and hospitality industries. The home windows Embedded for element of carrier operating device totally helps normal retail applications and machine peripherals, and the solution comprises a straightforward improve path to windows XP for Embedded systems or windows Vista for Embedded systems. The pre-loaded IBM methods could have accelerated language aid for 33 dialects and should guide a couple of business requisites corresponding to biometrics, electronic journal, invoice acceptor, SmartCard and ClearInput.

The potent, retail-oriented offering can be pre-configured to support and simply connect to a broad latitude of retail applications and contraptions. Its specifications-based mostly framework and built-in networking capabilities allow quick development and beginning of new POS solutions.

Microsoft also announced today robust boom of home windows Embedded in the retail market. in response to a contemporary document* published by IHL neighborhood Inc., a retail industry research enterprise, the full number of home windows Embedded factor of service users in North American grew via 250 % in 2007. In a second look at with RIS information, IHL additionally found that 63 % of retailers have been seriously for the reason that a Microsoft home windows Embedded operating device for their next POS buy.

“Retail and hospitality agencies globally are keenly focused on making the in-store browsing journey compelling for buyers whereas also searching for ways to drive down costs via more suitable efficiencies,” observed Ilya Bukshteyn, director of marketing for home windows Embedded at Microsoft. “This demand alerts the need for know-how solutions that convey a sensible, related service-oriented adventure. Microsoft’s collaboration with IBM is an awesome instance of the fine response to our embedded factor-of-provider retail and hospitality strategy.”

additional info on Microsoft’s windows Embedded for factor of service platform can also be found at http://www.microsoft.com/home windows/embedded/wepos, or at the blog website at http://blogs.msdn.com/pointofservice. As a way to streamline the solutions validation phase, sellers and hospitality operators could be able to are attempting the solution for as much as a hundred and twenty days earlier than making a purchase determination.

based in 1975, Microsoft (Nasdaq “MSFT”) is the international chief in application, functions and solutions that help individuals and corporations realize their full competencies.

* source: 5th Annual IHL/RIS news shop methods examine, January 2008.

notice to editors: if you are interested in viewing additional information on Microsoft, please talk over with the Microsoft internet web page at http://www.microsoft.com/presspass on Microsoft’s corporate assistance pages. net links, mobile numbers and titles were proper at time of booklet, however may additionally in view that have changed. For additional counsel, journalists and analysts may contact Microsoft’s fast Response team or different acceptable contacts listed at http://www.microsoft.com/presspass/contactpr.mspx.


000-R03 IBM SurePOS 700 Technical Mastery

Study Guide Prepared by Killexams.com IBM Dumps Experts


Killexams.com 000-R03 Dumps and Real Questions

100% Real Questions - Exam Pass Guarantee with High Marks - Just Memorize the Answers



000-R03 exam Dumps Source : IBM SurePOS 700 Technical Mastery

Test Code : 000-R03
Test Name : IBM SurePOS 700 Technical Mastery
Vendor Name : IBM
Q&A : 31 Real Questions

Where should I search to get 000-R03 actual test questions?
im very lots happy together with your test papers specially with the solved issues. Your take a look at papers gave me courage to appear in the 000-R03 paper with self belief. The result is seventy seven.25%. all over again I entire heartedly thank the killexams.com organization. No different way to pass the 000-R03 exam other than killexams.com model papers. I personally cleared different assessments with the assist of killexams.com query bank. I endorse it to each one. in case you need to skip the 000-R03 examination then take killexams.com assist.


definitely attempt those real test questions and success is yours.
i was looking to get ready for my 000-R03 check that became across the nook, i discovered myself to be lost within the books and wandering far far from the actual point. I didnt apprehend a single phrase and that turned into virtually concerningdue to the fact I had to prepare as soon as feasible. Giving up on my books I decided to register myself in thisKillexams.com and that changed into the pleasant decision. I cruised through my 000-R03 take a look at and became capable of get a respectable score so thanks very an awful lot.


Is there a shortcut to fast put together and pass 000-R03 examination?
Thumb up for the 000-R03 contents and engine. Worth shopping for. No doubt, refering to my pals


start making ready those 000-R03 questions answers and chillout.
pleasant one, it made the 000-R03 smooth for me. I used killexams.com and exceeded my 000-R03 exam.


it's miles brilliant perfect to prepare 000-R03 exam with actual test questions.
To become a 000-R03 certified, i was in push to skip the 000-R03 examination. I tried and failed closing 2 tries. Accidently, I had been given the killexams.Com fabric through my cousin. I was very inspired with the Q&a fabric. I secured 89%. I am so happy that I scored above the margin mark with out problem. The fabric is well formatted as well as enriched with crucial principles. I think it is the extremely good desire for the exam.


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Nice..I cleared the 000-R03 examination. The killexams.Com question financial institution helped a lot. Very beneficial indeed. Cleared the 000-R03 with ninety five%.I am positive each person can bypass the exam after completing your tests. The factors have been very helpful. Thanks. It become a tremendous enjoy with killexams.Com in terms of collection of questions, their interpretation and sample in which you have set the papers. I am thankful to you and deliver complete credit score to you guys for my fulfillment.


Very smooth way to skip 000-R03 examination with questions and exam Simulator.
This braindump from helped me get my 000-R03 certification. Their substances are really useful, and the finding out engine is simply extremely good, it virtually simulates the 000-R03 exam. The exam itself became hard, so Im glad I used Killexams. Their bundles cowl the entirety you need, and you wont get any ugly surprises in some unspecified time in the future of your exam.


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I have passed the 000-R03 exam with this! This is the first time I used killexams.com, but now I know its not gonna be the last one! With the practice exams and real questions, taking this exam was surprisingly easy. This is a great way to get certified - which are nothing like anything else. If youve been through any of their exams, youll know what I mean. 000-R03 is hard, but killexams.com is a blessing!


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Just try these actual test questions and success is yours.
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Wakefern and IBM Team to Update Store Experience in ShopRite Stores | killexams.com real questions and Pass4sure dumps

SOURCE: IBM

January 11, 2008 17:19 ET

ARMONK, NY--(Marketwire - January 11, 2008) - IBM (NYSE: IBM) announced today that it is working with the Wakefern Food Corporation to deploy advanced IBM point-of-sale (POS) systems, software and infrared touch displays.

A recent IBM study of the grocery industry identified customer experience as a primary driver of loyalty. With today's announcement, Wakefern is moving to bring the most advanced functionality and technology to ShopRite stores, allowing employees to deliver a better shopping experience to consumers.

"ShopRite stores have always provided our customers with maximum convenience, competitive prices and innovative products and services," said Alan Aront, Vice President of Information Systems, Wakefern. "The functionality, reliability and open standards that we are implementing with IBM software and hardware will enable us to deliver continual innovations to our customers in less time."

In collaboration with IBM and Agilysys, an IBM Business Partner, Wakefern will install IBM's SurePOS Application Client/Server Environment (ACE), an application that optimizes customer service and improves reliability at the point-of-sale system, and IBM's Store Integrator on the IBM 4690 operating system. Store Integrator is designed to help maximize customer service and associate productivity, and is part of IBM's Store Integration Framework (SIF). SIF provides a complete, flexible and robust retail-optimized infrastructure to enhance store-centered processes and connect them with the enterprise.

ShopRite stores also will be upgraded with IBM SurePOS 700 POS terminals and servers and IBM SurePoint 4820 Touch displays at all check-out lanes.

Wakefern is using an IBM Electronic Marketing Enterprise (EME) solution aimed at improving its customer loyalty program. The EME solution gives ShopRite employees immediate access to customer data, and an easy way to promote offers and deliver personalized marketing messages in the store prior to checkout.

The agreement between the two companies was signed in December of 2007.

About Wakefern Food Corporation:

Wakefern Food Corporation is the nation's largest retailer-owned grocery cooperative, providing services to 190 ShopRite stores in New Jersey, New York, Connecticut, Pennsylvania and Delaware.

About IBM Retail Store Solutions:

With more than 30 years of point-of-sale (POS) market leadership, IBM and its network of IBM Business Partners provide retailers of all sizes store solutions, including innovative hardware and software products and a broad array of consulting and technical services that can help increase sales and reduce costs. For more information about IBM Retail Store Solutions, please visit www.ibm.com/retail


Newsonomics: It looks like Tronc is about to be chopped up and sold for parts | killexams.com real questions and Pass4sure dumps

Aug. 29, 2018, 3:56 p.m.

Rupert Murdoch owning the New York Daily News? A McCormick controlling the Chicago Tribune again? The L.A. Times pulling a Washington Post, aiming to run the industry’s underlying infrastructure? A lot of change is coming soon.

While it still requires some deal jiu-jitsu, Tronc looks to be on the brink of being broken up.

Will Wyatt’s new Donerail Group, several confidential sources tell me, has now gotten the financing in place to do a deal to buy Tronc. Donerail would purchase Tronc’s 10 daily newspaper properties, take the company private, and then most likely sell the papers off to individual buyers — some of whom it already has lined up.

Tronc’s been in play, quietly, for much of the year, but several pieces of the deal puzzle have only just fallen into place. (Donerail’s interest was first reported in early August by Reuters.) But it’s now become clear, through multiple insider accounts, how such a deal may work. A completed deal would likely come in as a $640 million to $700 million transaction. That would value Tronc shares somewhere above the $18 to $19 range; they trade at $17 today.

On the surface, the latest drama to envelop Tronc looks fairly straightforward. “Alternative investment” fund sees chaos and cash in the unending decline of the daily newspaper business, thinks it can make a buck.

Tronc being Tronc, though, nothing is as straightforward as it seems. Unsurprisingly, the characters that have starred in the company’s two-year dramedy — most prominently moneyman Michael Ferro and now L.A. Times owner Patrick Soon-Shiong — have assumed major roles, even if their parts have gone largely unreported.

If the Donerail deal goes through, it apparently requires Soon-Shiong throwing in with it. That means he would maintain his continuing 25 percent stake in Tronc — which he’s held onto throughout his long effort to buy the Los Angeles Times and San Diego Union-Tribune. Soon-Shiong’s retention of that stake makes Wyatt’s financing of the deal possible; he only needs enough borrowing to pay off the other 75 percent of shareholders.

The apparent quid pro quo: Soon-Shiong would extend to other Tronc, or Tronc-sold, properties, the suite of newspaper technology services he’s trying to rapidly build. (The L.A. Times declined comment on Soon-Shiong’s tech intentions.)

There are a lot of moving, and dependent, pieces there, but insiders say that’s the contour of the deal currently in detailed final discussions.

If it works, Wyatt — an accomplished “event-driven” investor — gets his deal done and aims to make money selling off Tronc, title by title, city by city. Soon-Shiong gets to magnify the impact of his planned news technology strategies, aiming to combine the substantial engineering resources of his Nantworks technologies with those of news publishing — in part potentially replacing The Washington Post’s Arc platform, which has been rolling out across Tronc newspapers.

Still playing out in this deal: the odd relationship between Soon-Shiong and Michael Ferro. For a very short time — banding together to fend off a hostile Gannett bid only two years ago, though it feels like an eon in Tronc time — the two were allies. Since then, it’s been a war between the two: hot, cold, and then lukewarm enough for Soon-Shiong to complete his purchase of the Times from Tronc in June.

But the tale of the two doesn’t stop there.

While #metoo allegations forced Ferro out of his formal chairman role in March, he’s kept a steady hand behind CEO Justin Dearborn’s tiller — among other things figuring out a new way to pocket a $7.5 million payoff from the company, a move just reported in federal filings this month and detailed below.

Formally, Ferro still heads up Merrick Media, the group of Chicago-based investors that owns a quarter of Tronc. His investors, as I have noted, want out. So Ferro has been trying for months to swing some kind of deal to get that stake sold, and at an above-market price.

In April, he announced a deal with McCormick Media to cash out Merrick at a hefty premium, intended to net $208.7 million. But that deal fell through, prompting my satiric (and premature) Ferro obit.

In the months since, he’s been working another deal — to sell the whole company.

That’s where Donerail fits in. Its head, Will Wyatt, is no stranger to Ferro. In fact, his then-employer Starboard Value took a position in Tronc as it fended off Gannett in 2016, reports the Chicago Tribune’s Robert Channick. In his days at Starboard, the company became quite familiar with Tribune Publishing, Tribune Media (its then-broadcast sibling) and then Tronc. Wyatt himself played a role as a “consultant” to Tronc on the L.A. Times sale to Soon-Shiong, so he became well in touch with all the players.

That’s what led to the approach of keeping Soon-Shiong in the ownership group — and satisfying his strategic aims. Soon-Shiong could want to just cash out of his holdings, and has assessed the market for his quarter-share, say sources. Alternatively, he can look at his participation in a new ownership group as an opportunity to further his “100-year plan” to transform news media.

The Times’ technology transition, after the closing of the sale, continues to be problematic. Though a Transition Services Agreement — that long held up the closing of the Times sale, as I reported — is in place, the process has been arduous.

And that’s where part of the deal jiu-jitsu resides. Soon-Shiong, who recently hired technology talent back from Tronc, wants to reverse the proposition. He would like the new Times, say sources, to build out and own the kinds of technologies — including artificial intelligence-directed predictive analytics — and then provide them more widely to newspaper companies.

It’s a big vision. One issue: timing. While Soon-Shiong’s vision and financial capacity are clear, little is now built. If the Donerail deal should proceed, with Soon-Shiong’s technology services as part of a package sold to buyers of individual properties, what exactly would be available to them — and when?

Curiously, this deal could get done without clear answers to those questions.

Buying Tronc: Where’s the value?

Tronc doesn’t seem like a big prize.

As public newspaper companies reported their second-quarter results, Tronc managed to turn in the worse revenue performance among all its peers. Tronc lost 11 percent, year-over-year, in Q2. No one did better than a 4.9 percent loss, which GateHouse recorded, but none of other groups dipped into double-digit downturn territory.

The company’s major news of the quarter: slashing the New York Daily News newsroom in half, in an effort to turn the Ferro-bought property from a big ongoing loss to break-even. Tronc maintains its 2018 profit forecast only by ramping up the cutting of expenses, including newsroom staff.

(The only good recent news? Today’s International Trade Commission ruling reversed the new tariffs on Canadian newsprint. Those tariff-related price increases had dinged Tronc earnings by $2.5 million in the second quarter alone. Newsprint pricing should now ease into the final quarter of the year, helping Tronc and newspaper budgets overall.)

At a price of $640 million to $700 million, Wyatt’s new group would pay a relatively high multiple for the company — about 5× its 2018 forecast EBITDA. At that hefty price, close financial observers in the news industry share a common (if not-for-attribution) view: Where’s the value?

Yes, eliminating Tronc’s corporate headquarters staff provides some financial rationale for a split-up, but that seems inadequate to justify the math. Those brokering the business of selling and buying newspapers scratch their heads at Donerail’s reported interest.

Common to an increasing number of buyers these days, Wyatt hasn’t talked publicly about his interest — or about what he intends to do with Tronc’s 10 papers if he lands them. (My efforts to reach him were unsuccessful.) In fact, as he’s acknowledged privately recently: “My background’s not in operating companies.” It’s in buying — and quickly selling.

Hence this emerging conventional wisdom: Donerail would split Tronc up, selling the parts.

In this scenario, the likely strategy would be to find “hometown buyers like Patrick Soon-Shiong.” Translation: Find “civic buyers,” the kinds of wealthy individuals (or small groups of wealthy individuals) who still see value in the local newspaper brand and institution. (I called this small group the 50-50 men four years ago, as a few of them entered the business, an entry that has produced quite mixed results.) Then win an above-market price for each property, as Tronc did at selling the Times to Soon-Shiong for (effectively) $600 million.

“How many of those people are really out there still?” one newspaper CEO asked me this week. “Are there really people in Baltimore, Hartford, and Chicago ready to buy…I wouldn’t go ahead with any deal to buy Tronc unless I had agreements with buyers in at least some of those cities,” he said.

At least a couple of buyers may be in the wings, and it’s possible such “letters of intent” are out there.

McCormick Media, led by Sargent McCormick, a distant relative of Colonel McCormick of Chicago Tribune lore, could re-enter the picture. While its first effort to buy Merrick Media’s shares fizzled, the group has maintained its interest. Now, sources say, McCormick Media could either become a Donerail partner in a wider Tronc buy, or buy the hometown Chicago Tribune itself out of such a deal. Sargent McCormick declined comment on the company’s next moves.

Donerail would probably want to quickly dispatch the financially problematic New York Daily News. There, says one source, Rupert Murdoch, owner of the rival New York Post is set to pounce, paying $1 for the paper. (Aug. 30 update: “We have no interest whatsoever in the Daily News. We have not approached Tronc and will not be approaching Tronc.”)

Hearst remains a logical buyer for the Hartford Courant, given its Connecticut strength, though in the past has seemed uninterested in buying it.

In Baltimore, various civic names have been bandied about for years as potential buyers. It’s unclear which of them, or which new candidates, might now be interested. All of Tronc’s newspaper businesses have continued to shrink and weaken in the interim.

Then there’s likely GateHouse Media interest in the South Florida Sun-Sentinel, adjacent to two significant properties it owns there, and perhaps Tronc’s Allentown and/or Virginia properties.

That would mean a new combination of insiders and outsiders replacing Tronc.

As newspaper industry people contemplate more “outsiders” entering their once-close fraternity, they’ve gotten lessons in vulture investing (via Alden Global Capital’s strategy). Now they can ponder “event-driven” buying.

As a principal at Starboard Value, and before that at Empyrean Capital and Magnetar Capital, Wyatt has specialized in “event-driven” investment. In plain language, that means seizing on an investment opportunity “after a corporate event, such as a bankruptcy, merger, acquisition, or spinoff,” at which point “the event-driven investor will purchase the stock of the company to be acquired, and sell it after the acquisition, when its price has risen to the acquisition price (or greater).”

Most plainly, Donerail sees opportunity in Tronc’s chaos.

Presumably, then, a Donerail buy would net this value investor a quick buck on a Tronc breakup.

The problem: Selling the individual properties at prices above that initial 5× multiple might prove difficult. Also, the properties generally share a low tax basis, meaning the seller would owe significant tax — one financial analyst estimates it at 20 to 25 percent — on sale proceeds.

Finally, there’s the reality that always comes with the unwinding of individual properties from a mothership chain: “dissynergies.” Anyone buying an individual newspaper has to add in the further cost and time of undoing and redoing fundamental operating functions — raising the effective price of any acquisition.

Those are the woes a splitting newspaper company faces. All chains have greatly centralized every business function they can to achieve cost savings over the past five-plus years. That means any new owner of a newly solo daily must figure out everything from basic publishing systems to finance to HR to national ad sales. Remember it was such dissynergy — resulting in that torturous Transition Services Agreement — that held up Soon-Shiong’s buy; it’s also what has complicated such heroic separations as the Berkshire Eagle’s escape from Digital First Media ownership.

Though a much longer shot, Donerail — or a future owner — could decide to operate Tronc whole. Its balance sheet is an enviable one. Tronc paid down almost all its debt — a rare condition in the newspaper trade — when it sold the southern California properties. After it pays taxes of about $110 million on the transaction, it will still have more than $100 million in cash. So, another scenario: a buyer acquires Tronc, scoops up some of the cash, and ladles new debt on top. Those new debt payments, of course, would only further tighten newsroom and other budgets, but they could satisfy short-term investing objectives.

Financial engineering to the fore

All in all, this episode of Tronc drama looks a lot like the previous ones. It is likely to be financial engineering that drives the future of Tronc’s papers from Baltimore to Fort Lauderdale to Chicago — not any new model of digital product, content, or business model. The readers, the employees, and the large affected communities remain mere spectators.

Of course, Michael Ferro remains the man in the middle, ever brokering. Given his familiarity with would-be buyer Wyatt, one financial observer wondered if this would end up with “Ferro round-tripping” — noting Ferro’s uncanny abilities to make money on both ends of a deal, even as more traditional business people whisper that he loves to skate on thin legal or regulatory ice.

Earlier this month, without fanfare or public notice, Ferro pocketed another $7.5 million in cash from the company. Tronc watchers will recall the consulting agreement he was granted by the Tronc board late last year, after it decided that paying him for its leased jet had gotten too complicated. That deal provided him $5 million a year, beginning in January 2018, in exchange for “certain management expertise and technical services.” Ferro got the first payment in January this year, just before the #metoo charges caused his exit.

Then, in June (and explained in an Aug. 10 SEC filing), the Tronc board decided to pay him money owed for 2019 and 2020, albeit at a “discount.” Ferro granted Tronc a 25 percent discount and took in an immediate payment of $7.5 million. Further, “the Company agreed to pay $0.3 million in legal fees incurred by Mr. Ferro while conducting the Company’s business.”

Even his most severe detractors marvel at Ferro’s continuing ability to come out on top in his business adventures, noting his mastery of timing. (In May, IBM announced layoffs at its new Watson Health division, built in part on the Merge Healthcare business it bought from Ferro and associates in 2015.)

Then there are the financial incentives built into the contracts of top Tronc executives. Those agreements accelerate their bonus and stock option compensation in case of a sale, assuming a legal “change of control” takes place. They amount to as much as $23.5 million in payments. More than $10 million of that, potentially, could go to Ross Levinsohn. Just last week, Levinsohn was able to exercise his first year of Tronc stock options even as the talk around L.A. is how little work Levinsohn seems to be doing now in his reconfigured job as head of Tribune Interactive, where he landed after Tronc removed him as Times publisher and then internally cleared him of his own #metoo allegations.

In short, much of what we know about Tronc’s structuring of compensation favors financial engineering over the betterment of the business — or journalism, or service to its communities — itself.

A Tronc by any other name

How long will that name — Tronc — remain among us? If you’ll recall, many assumed the Tronc name would depart for Trivial Pursuit boards of the future; Tribune Media, its once-sister broadcast company, was finalizing its sale to Sinclair Media, which could have freed up the Tribune moniker. But, unexpectedly, that sale has blown up, and at least for now, Tribune Media remains an operating company. So, even if Tronc isn’t sold and broken up, the chances of it reclaiming its birthright brand anytime soon have shrunk.

Old newspaper brands stir a lot of emotion — and grabbing. Insiders point to quite colorful skirmishes between executives as the Tribune Company split in two back in 2014, with TV stations going to Tribune Media and newspapers to Tribune Publishing. “We found people moving around expensive chairs with hours to go on the split. You know the rule: Possession is nine-tenths of the law,” one former exec remembered this week. In that fray, high-branded art — including Diebenkorns, Rockwells, and Picassos — saw action. Consider the L.A. Times’ Daniel Miller’s own colorful account of the disappearance/reappearance of five iconic Picassos — another layer of tarnish on what was once a great publishing name.

Then there’s the curious Donerail name. Given the gallows humor inherent in the post-Sam Zell travails of the once-staid Tribune Company, it might be tempting to think of the stealthy company — a mere single page to its website — as the Donner Company, ready to commit more cannibalism in the eat-or-be-eaten newspaper trade.

Yet Donerail ironically sees itself as an underdog. Donerail, horse-racing historians will tell you, was the biggest underdog to ever win the Kentucky Derby, way back in 1913. It was a 91-1 shot.

You can conjecture among yourselves what that might mean for Donerail’s own odds as it considers entering the daily newspaper business.


A business within the business | killexams.com real questions and Pass4sure dumps

The idea of aligned incentives is kind of a holy grail. The goal is always the same: to align the interests of managers and employees with the owners of the business.

Why do so many incentive plans fail?

We pay commissions to salespeople because we want them to get energized about selling things. We use profit-sharing and stock options to get people excited about increasing the value of the business. We try to align executive pay with incentives like earnings growth, revenue growth or stock prices.

But too often these attempts fail to get people to think and act like owners. Why?

Short-term thinking. Since we have to reward people within a reasonable timeframe, many incentives tend to focus on short-term measures. Optimizing incentives for short-term results discourages long-term thinking that may be necessary to ensure the survival of the company in the long run. For example, in the rush to earn commissions, salespeople make deals that the company can’t make a profit on, or push customers to buy more than they need, or offer too much because they want to squeeze in a deal at the end of the quarter. Their efforts increase sales in the short run but destroy value in the long run. And for executives, there are always ways to drive up the stock price or other measures in ways that look good in the short term but destroy value in the long term.

Too vague. Stock-option and profit-sharing plans reward employees when the company does well, but the larger the company, the more difficult it becomes for people to feel that their efforts have an impact on the stock price. Frontline workers often have a hard time believing that anything they do can affect stock prices or profits one way or another. Their impact is just too small relative to the actions of the company as a whole.

The industrial era was built on the kind of carrot-and-stick management that rewards some behaviors and punishes others. This has been successful in a world of predictability, where work can be broken down into routine tasks that can be done according to a prescribed formula. But it won’t serve us in the 21st century. In the coming years we will need to get the absolute best our people can offer. We will need their heads and hearts as well as their hands.

In his book Drive: The Surprising Truth about What Motivates Us, Dan Pink cites research that indicates extrinsic rewards, such as sales commissions or other financial rewards, do work well under certain limited conditions: when a task simply requires people to follow a formula, such as Adam Smith’s famous pin factory. But for jobs that require complex or creative thinking, extrinsic rewards can be dangerous, because they tend to restrict people’s ability to notice things on the periphery and craft novel solutions.

Pink’s prescription is that in a world that increasingly requires people to think creatively, solve problems and remain flexible in uncertain environments, extrinsic incentives don’t work, and we should instead focus on the kinds of intrinsic motivation that drives artists, inventors and other creative professions: mastery, autonomy and purpose.

Certainly Pink’s point is an excellent one. Intrinsic motivation does indeed motivate people and drive creative success. But in business creative success is only part of the equation. In business we also need to make money. A quick look at the history of inventors and other creative people will confirm that, while creativity and invention may be necessary components of innovation, they are not sufficient if you want to achieve both innovation and business results.

The great innovators in business did not succeed on creativity alone; their success was a blend of creative thinking and business logic. There was no lack of creativity and invention in Xerox PARC, but Steve Jobs and Steve Wozniak were able to translate that creativity into a tangible product that people were willing to pay for. The great innovators in business – Henry Ford, Thomas Edison, Benjamin Franklin, John D. Rockefeller, Andrew Carnegie, Walt Disney, Sam Walton, Ted Turner and so on – blended creativity with business sense and a deep understanding of customers and market dynamics.

The challenge in aligning incentives is threefold: First, incentives must be real and tangible enough that people can see the impact they have on the business as a whole; second, they should balance long-term and short-term thinking; and third, they should balance rewards so they reward people for things that make the business as a whole healthier and more successful.

A good incentive system should reward people for thinking and acting like owners. So is it possible to get every worker to act as if they own the business?

It is possible. And the answer is actually quite simple. The way to get everyone to act as if they own the business is to give them a “business within the business.”

The podular organization.

To make this work, you first have to understand that the most common template for large-scale modern business design, the multidivisional corporation, is not the only way to do it. The multidivisional form, first realized by General Motors in 1920, has become the standard form today. While phenomenally effective in some ways, the multidivisional form also has significant weaknesses when it comes to innovation.

There are things that seem “obvious” about organization design that are in fact not so obvious at all. Some things that we take for granted as fundamental are in fact only optional.

We tend to design organizations by splitting them into divisions. We divide the business, and the labor, in order to do work more efficiently. We put the software developers together so they can focus on software; we put the salespeople together so they can focus on selling and learn from each other, and so on. Sounds obvious, yes? And it’s very efficient. But as we move into a world where efficiency leads to commoditization, and where value will increasingly be driven by innovation, efficiency is no longer the overriding goal.

How can you divide the labor in your organization to optimize for innovation rather than efficiency? The answer is to supplement divisional thinking with another approach that I call podular thinking.

In a divisional organization, the kind we are all familiar with, you divide the labor into functions and specialties. As you continue to divide an organization in this way, you increase efficiency, but as a side effect you also disconnect the people from the overall purpose of the business. People in a functional group tend to identify with each other more than they identify with the purpose of the organization.

In a podular organization, you divide labor into “businesses within the business,” each of which can function as a complete service in its own right. Since each pod functions as a small business, its focus remains outside the pod, on its customers. Those customers might be inside or outside the organization as a whole, but each pod delivers a complete service. A podular approach allows a large company to act as if it were a flock or swarm of small companies; it gives the whole a level of flexibility and adaptiveness that would never be possible in a divisional organization. A podular organization is a fractal organization: every pod is an autonomous fractal unit that represents, and can function on behalf of, the business as a whole.

Does this sound strange? How is this possible?

Let’s look at four examples from four different industries: A food processing company, a retailer, a software company and a conglomerate.

Morning Star’s self-organizing marketplace.

Morning Star, a privately held company, was started in 1970 as a one-truck owner-operator hauling tomatoes. Today the company is the world’s largest tomato processor, with revenues of $700 million a year.

At Morning Star, workers manage themselves and report only to each other. The company provides a system and marketplace that allows workers to coordinate their activities. Every worker has suppliers and customers – and personal relationships – to consider as they go about their work.

Every employee writes a personal mission statement that describes how they will contribute to the company’s goal, and is also responsible for the training, resources and cooperation they need to achieve it. Every employee also creates a yearly Colleague Letter of Understanding (CLOU), describing their promises and expectations for the coming year, negotiated in face-to-face meetings with peers. All the agreements, taken together, describe about 3,000 peer-to-peer relationships that describe the activities of the entire organization. Each Morning Star business unit also negotiates agreements with other units in a similar way.

If a worker needs something, they can issue a purchase order. If someone needs help or identifies a new role that’s needed to do the job better, they can start the hiring process. The bigger the dollar amount, of course, the more important it is to lobby your peers and get their buy-in for the purchase, because the unit will sink or swim together. Over time, workers tend to move from simpler to more complex roles, hiring people to fill the roles they need to support them. There’s no competition for management jobs because there are no management jobs. To get ahead, workers must find better and more valuable ways to serve their peers.

The discipline at Morning Star comes from a strong sense of mutual accountability. Problems are settled through mediation. If mediation can’t settle it, a panel of peers is convened. If that doesn’t work, a dispute will go to the president for a final decision. If the problem is serious or sustained enough, the worker may be fired. But while people can be fired, nobody has a boss hovering over them. What they do have is customers.

Every two weeks, the company publishes detailed reports of finances and other measures, that are transparent and available to everyone.

Business units are ranked by performance, and those at the bottom of the list can expect a tough conversation. In yearly planning meeting, business units present their plans to the entire company and workers invest using a virtual currency which then informs the budgets for the year. Workers elect compensation committees who evaluate performance and set pay levels based on performance.

Morning Star is a marketplace, where every worker is a business within the business. You can read more about Morning Star on their website or in this excellent HBR article by Gary Hamel, First, Let’s Fire All the Managers.

The Nordstrom way.

Nordstrom is a publicly traded high-end retailer, known for excellent service, with revenues of about $9 billion a year.

Nordstrom’s employee handbook is so short and simple it can fit on an index card. It states:

“Use your best judgment in all situations. There will be no other rules.”

Nordstrom salespeople are free to make their own decisions, although Nordstrom’s strong culture of putting the customer first provides a guiding light for all to steer by.

That customer-service culture is at the core of Nordstrom’s success. The entire system is organized in order to support that salesperson on the Nordstrom floor to help them deliver the best possible customer service. If Nordstrom stocks something, they will make every effort to stock it in every size available – they don’t want to disappoint a customer by not having something in their size.

Salespeople aren’t chained to a department like they are in other stores. If a salesperson wants to walk through the whole store to help her customer pick out clothes, shoes, cologne, and anything else, she can do that. A Nordstrom salesperson might stay in touch with customers by Twitter, email, or whatever else is convenient. The message to customers is: however you want to buy it, however you want to interact with us, we can do it that way.

Customers are encouraged to take things home and try them, and bring them back at any time. If you ask, “How long can I bring it back?” the answer you will hear is “forever.” And they mean it.

One Nordstrom customer said “What I love about Nordstrom is that if I want to browse by myself that’s fine, and if I want help people are there and happy to assist me.”

As you can imagine, customers love it.

“Nordstrom has the faith and trust in its frontline people to push decision-making responsibilities down to the sales floor, the Nordstrom shopping experience is “as close to working with the owner of a small business as a customer can get,” said Harry Mullikin, chairman emeritus of Westin Hotels. Nordstrom salespeople “can make any decision that needs to be made. It’s like dealing with a one-person shop.” From The Nordstrom Way: The Insider Story of America’s #1 Customer Service Companyby Robert Spector and Patrick D. McCarthy.

Nordstrom culture demands that the employee put the customer before company or profit in all decisions. Nordstrom provides a platform, the store, and each employee is treated as an entrepreneur who can set up a business on the platform. With commissions, Nordstrom salespeople can make six figures yearly on a base wage as low as $11 an hour. One worker stated:

“The way I saw it, the Nordstroms were taking all of the risks and providing all of the ingredients-the nice stores, the ambiance, the high-quality merchandise-to make it work. All I had to do was arrive every morning prepared to give an honest day’s work, and to value and honor the customer.”

Nordstrom employees can offer the best service in the industry because every Nordstrom salesperson operates a business within the business, backed by the full support and resources of a Fortune 500 company.

Self-organizing teams at Rational Software.

Rational software was founded in 1981 to provide tools for software engineers. Rational was acquired by IBM for $2.1 billion in 2003. Since Rational has been acquired I will describe the company in the past tense, although it may operate similarly today as a group within IBM.

Rational’s goal was very transparent to everyone in the company: “Make customers successful.” Customers were served by small, autonomous pods known as field teams. Each field team operated as a fully functional, stand-alone unit, with technical and business experts working closely together. The same team who sold a product or project was also responsible for delivering it. Resources were distributed to teams based on their performance.

Rational’s team-based approach permeated the culture at all levels. “If you weren’t team oriented, you wouldn’t survive” says Jerry Rudisin, Rational’s VP of Marketing from 1991 to 1999. Rational put team orientation first even when it hurt the bottom line in the short term. “When I was a district manager, I fired the top sales rep more than once” says Kevin Kernan, who worked at Rational in a variety of roles for 17 years. “We had zero tolerance for people who didn’t exhibit team behavior – that was just poisonous to our culture.”

The cross-functional teams at Rational were a great way to build entrepreneurial skills within the company, because every team member understood every aspect of the business. Team members worked closely together and learned from each other constantly. As the company grew, many technologists grew into new careers in sales, fielding their own teams in new territories. Many went on to start companies of their own.

Rational management focused on managing the teams as if they were a portfolio of companies. Teams were evaluated on five things: First and foremost, customer success: Did the team help customers succeed in achieving their goals? Revenue: Did the team make or beat its revenue targets? Team development: Was the team optimizing for the career growth of each team member as well as the team? Territory growth: Was the team growing in reach as well as revenue? Business basics: Did the team play well with other teams? Did they spend money as if it was their own?

“You could have a team that did poorly in their overall ranking even though they made their revenue target, because their customers weren’t successful in achieving their goals” says Kernan. One year a new sales rep in a 7-person team was fired because he didn’t treat his team well and had filed some paperwork that was misleading, even though the deals he made with customers were all solid and his sales accounted for 25% of the company’s revenue.

Top-down intervention in team dynamics was rarely necessary. When a team member wasn’t performing, the greatest pressure for improvement came from the team itself. “When I was a district manager I had 25 direct reports, but I rarely intervened. The teams basically managed themselves” says Kernan.

Teams made their own hiring decisions, and hired outside consultants or traded resources with other teams when necessary. “You had to be careful when you brought on a new member,” says Ray LaDriere, who worked in one of the Rational sales pods. “If you hired someone and they didn’t pull their weight, the deal was that we had to carry them for a full year.” Since one poor performer could hurt the performance of the whole team, people were very careful in their hiring decisions.

“It was an amazing experience for 17 years, and I would be surprised if you found anyone who worked at Rational for any significant period of time that didn’t feel the same way” says Kernan. “Our goal was to change the world by changing the way people design, build, and deploy software. And we did it.

Democratic management at Semco.

Semco is a Brazilian conglomerate that specializes in complex technologies and services like manufacturing liquids, powders and pastes for a variety of industries; refrigeration; logistics, and information processing systems; real estate, inventory and asset management; and biofuels. Semco’s revenues are around $200 million a year.

Semco is a self-managed company. There is no HR department. Workers at Semco choose what they do as well as where and when they do it. They even choose their own salaries. Subordinates review their supervisors and elect corporate leadership. They also initiate moves into new businesses and out of old ones. The company is run like a democracy.

Says CEO Ricardo Semler: “I’m often asked: How do you control a system like this? Answer: I don’t. I let the system work for itself.”

Semco is organized around the belief that employees who can participate in a company’s important decisions will be more motivated and make better choices than people receiving orders from bosses. Workers in each business unit are represented by an elected committee that meets with top managers regularly to discuss any and all workplace issues, and on important decisions, such as plant relocations, every employee gets a vote.

Workers at Semco choose their own hours. CEO Semler recalls that when he first proposed the idea, managers were convinced this wouldn’t work, especially when it came to factory work. But Semler was confident. “Don’t you think they know how to manage their own work?” he asked. Turns out they did, and they do.

Semler says simply, “if you want people to act like adults you need to treat them like adults.”

Things do take longer than they do in a traditional, hierarchically-managed company. Semler elaborates in his book Maverick: The Success Story Behind the World’s Most Unusual Workplace:

“Dissent and democracy go hand in hand. It’s also good management technique. What traditional executives don’t consider is that decisions arising from debate are implemented much more quickly because explanations, alternatives, objections, and uncertainties have already been aired.”

One of the principles underlying Semco’s success is the idea that every business should be small enough that each worker can comprehend it as a whole system. If a business grows to more than 150 people, Semco will split it into two.

Another principle is transparency and trust.

“The only source of power in an organization is information, and withholding, filtering, or retaining information only serves those who want to accumulate power through hoarding,” says Semler.

Once a month Semco holds open meetings for the employees of each unit, where all the numbers in the business are presented for open examination and debate. The company also offers courses to help employees better understand financial reports such as balance sheets, Profit-and-loss reports, and cash flow statements.

What about profits?

“Profit is highly important to us at Semco, and we’re as avid about it as a general is about his supplies. If provisions run out, his soldiers will die. If a company ceases to make money, it too will die. But armies are not created to feed soldiers, just as companies don’t generate income just so they can hire more employees. Food fuels the soldiers and keeps them going. Yet to serve as more than mere gun fodder, they must have a higher purpose, a reason for going through boot camp and charging the enemy in battle… This is where profit and purpose meet and, unfortunately for most organizations, it’s a head-on Humvee wreck.” ~ Ricardo Semler, The Seven-Day Weekend: Changing the Way Work Works.

Nearly a quarter of Semco’s profits go to employees, but the company doesn’t decide how to distribute it. Each quarter, the profit contribution of each unit is calculated, and 23% of profits go to that unit’s employees, who can distribute it however they wish. So far, they have always decided to distribute that money evenly to everyone.

Employees who are particularly confident can choose to put up to 25% of their pay “at risk.” If the company does well, they get a bonus raising their compensation to 150% of normal; if the company does poorly, they are stuck with 75% of their pay.

Does it work? Semco’s growth from $4 million in 1980 to more than $200 million today seems to point in that direction.

Can your company go podular?

Although each company has done it differently, Morning Star, Nordstrom, Rational and Semco have all found success by organizing along podular lines. This kind of design won’t make sense for every situation, or for every division. But no company can afford to ignore its innovation efforts. To ensure its long-term viability, every company needs to find a balance between their efficiency and innovation efforts.

The podular organization may be unusual, but it’s not a theory. It’s a fact. It can work in retail, it can work in manufacturing, it can work in technology, and it can work for a conglomerate. It can work for private as well as publicly-traded companies. It can work for a Fortune 500 company. Can it work for you? You can only find out if you’re willing to give it a chance.

You might start by reorganizing a single unit, like an innovation unit, a single store or location, or an R&D group. Look inside any R&D department or fast-growing web services company and you are likely to see a form of organization that’s more podular than hierarchical.

Podular organizations need to do a few things in radically different ways: First, they require information to be transparent and readable by everyone; second, they require principles, platforms and culture to guide individual decisions and give cohesion to the company as a whole; third, they require people who are not territorial, who are capable of open discussion and who will hold themselves and others accountable; and fourth; they require owners and managers who are capable of trusting people and teams to make good decisions and manage their “business within the business.”

When you give people a business within your business, you are aligning their incentives with owners and management. Everyone is a business owner, and everyone is a manager. Rewards are real and tangible, short-term and long-term benefits are in balance, and workers are rewarded when they are good stewards of the business.

If you want to unleash innovation, get closer to customers, and manage complexity, pods are worth a look.

Excerpted from The Connected Company.

Dave Gray is the Founder of XPLANE and author of Selling to the VP of NO, The Connected Company and Gamestorming.



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