Driving Innovation

3M is the proud sponsor of the NASCAR Sprint Cup series car number 16 driven by Greg Biffle, who is currently 10th in the point’s standings. In addition to racing in the biggest spectator sport in the US, Greg Biffle and his wife Nicole founded the Greg Biffle Foundation which is dedicated to the advocacy of animal welfare. The foundation is partnered with other companies, including 3M. In 2009, 3M and the Greg Biffle Foundation donated small pet sized oxygen respirators that were used in rescuing nine puppies from a house fire. The foundation also gives grants on an annual basis to various shelters and non-profit groups used for the well being and protection of animals.

See the following link for more information on the puppy rescue: http://www.cbsnews.com/stories/2009/08/01/earlyshow/main5203810.shtml?tag=latest

Stock Price Update

According to the Investor Relations page of 3M's website, the company's stock price rose another $.07 to $89.14 as of 4:00 p.m. ET on 10/15/10.

http://phx.corporate-ir.net/phoenix.zhtml?c=80574&p=irol-IRHome

Speed-to-Market

Over the years, 3M has developed its business units to include thousands of products, several in which 3M has taken a vertical integration approach to production and manufacturing of the product. One product line in particular is its Inhalation Drug Delivery systems. The use of vertical integration within the product line allows for the final good to be deliver sooner than if this integration did not exist. Vertical integration allows for one company to own or manage several stages or companies along the supply chain of the production of a good. The article below provides a greater insight to the medical division of the company.

http://solutions.3m.com/3MContentRetrievalAPI/BlobServlet?locale=en_WW&lmd=1222963521000&assetId=1180605258922&assetType=MMM_Image&blobAttribute=ImageFile

A little here and a little there goes a long way...

In 1999, 3M needed a way to cut back on its expenses incurred through the manual processing of purchases orders between its buyers and suppliers. The procurement department project lead Kathy Van Keulen stated the following regarding the costs involved with purchase orders, “the average cost of processing a purchase order at $120; those were expensive transactions for low-dollar items.” According to the June 2000 article in Communications News Magazine, purchase orders only contributed 2% of 3M’s purchasing dollar volume, but greater than 70% of their transaction volume; meaning that in the long run saving a little here and a little there can go a long way in increasing revenues.

To combat this problem 3M recognized they did not have the means to effectively build an electronic catalog. It was then that 3M outsourced this project to TPN Register to create a TPN Marketplace database for 3M’s buyers and suppliers to purchase goods all in one link. By doing this not only does it save 3M money spent towards expenses, but it also saves on processing and shipping times so that others receive their orders more quickly and accurately.

Sean Kelly "Outsource catalog services - 3M, TPN Register - Company Business and Marketing". Communications News. FindArticles.com. 16 Oct, 2010. http://findarticles.com/p/articles/mi_m0CMN/is_6_37/ai_62893697/

Stock Pricing over past 10 days

Sorry I have not been timely in providing a stock pricing update. Below is a graph showing the fluctuations over the past ten days. As of 10/1/10 3M's stock price was at $87.62.

Information gathered from 3M's Investor Relations page: http://phx.corporate-ir.net/phoenix.zhtml?c=80574&p=irol-stockquote

Follow 3M on Twitter and Facebook

Now it’s easier than ever to keep up-to-date on all the latest 3M news. Twitter is a rich source of instantly updated information, so it’s easy to stay current on new products, acquisitions, fun new product demonstrations and applications, and more on Twitter. Follow us on Twitter.

Facebook is great a way to keep in touch with friends and acquaintances, and you can also learn about your favorite products. Facebook pages provide easy access to information about a variety of well-known 3M products, including Post-it® Notes and Scotch® Tape. Find us on Facebook.

This blurb was taken from 3M's website at: http://solutions.3m.com/wps/portal/3M/en_US/Vikuiti1/BrandProducts/communication/newsletter/

Squid...Up Close and Personal

Thanks to 3M’s innovative technologies, the Smithsonian’s National Museum of Natural History has been able to safely preserve a 300-pound, 24 foot mysterious creature for all to see up close and personal. The squid is encompassed in approximately 1,000 gallons of Novec 7100 Engineered Fluid which was donated to the museum by 3M. The exhibit opened September 2008.

Read the full press release at: http://solutions.3m.com/3MContentRetrievalAPI/BlobServlet?locale=en_US&lmd=1219678742000&assetId=1180604131947&assetType=MMM_Image&blobAttribute=ImageFile

Also visit the Smithsonian’s website at: http://www.mnh.si.edu/exhibits/ocean_hall/index.html and The Giant Squid section at: http://www.mnh.si.edu/exhibits/ocean_hall/squid.html

The website also provides details regarding the preservation of specimens and the use of 3M’s Novec Engineered Fluids: http://www.mnh.si.edu/exhibits/ocean_hall/marine_life.html