More from Emerson Exchange...Rich Merritt reporting

------------------------------ EMERSON ACTS LIKE THE LEADER Way back, when I worked for Young & Rubicam (the world's largest ad agency), they stressed one of the most important rules of marketing: "If you want to be perceived as a leader, ACT like a leader." Methinks John Berra, president of Emerson Process Management, took the same class. The pugnacious president came out swinging today, when he delivered the first keynote address at the Emerson Global Users Exchange. "We have never been better," he declared to about 1,800 customers. "Although our numbers are not official until November, I estimate that our 2005 sales are about $4.2 billion, an increase of $500 million over last year. Our 2005 sales are tracking toward 13% growth this year. Further, our order rate is up more than 15%. We are the most financially stable company in the process control business." Berra made a few innuendos about control companies that mask their sales numbers, combine them with other operations, and otherwise do everything they can to NOT tell you what their annual process control sales are. "We intend to widen our lead," he said, implying that Emerson was leading the pack. We don't know for sure if that is true, and we won't know until we compile our Top 50 in December. But anyone listening to Berra would certainly think Emerson was the leader. At least Berra was ACTING like the leader, in the best Y&R tradition. Another Y&R marketing rule is, "your best customers are your existing customers," implying that it is easier to sell equipment to current customers than it is to find and sell new customers. It's the classic 80/20 rule at work. Berra seems to have learned this lesson too, because he did everything he could to assure customers that Emerson cares about them, wants to know their problems, and they made the correct buying decision. Berra is a master at this game. From anybody else, it would smell like marketing schmaltz. From Berra, it sounded sincere. Another marketing rule is: "It is important to be sincere. Once you learn to fake that, you got it made!" In Berra's case, I don't think he was faking it. Rich