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Multinational companies with national sales structures in the 15-member European Union may be encouraged by today's ruling to refuse to sell to cross-border traders who make a living from the price differentials.
"These individuals have mindshare, but they don't have traditional sales structures," Fishman said.
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The inquiry by the agency follows questions about the company's sales structure.
The result is a pyramid-like sales structure that broadens to include more and more recruits with each descending level.
An analyst at the firm, Shane Dinneen, took the audience through the details, showing charts of the company's sales structure.
Cash raised by the share offer will be used to develop Wolfson's sales structure and enhance its design and test technology.
Mr. Forsee, hired in March to succeed William T. Esrey, who was ousted because of his use of tax shelters, is overhauling the sales structure.
It said there was no direct link to recent "issues" as it had started looking at its sales structure last year, but to onlookers it inevitably added to the sense of crisis.
"Reduced promotional activity in the first half... and a small degree of disruption from bedding down the new sales structure led to a small loss in market share," Mr. Johnston told an analysts' briefing.
The Sales Structure.
But Sun's move is particularly difficult because of the complex logistics of its sales structure.
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