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Boise Cascade cancels IPO citing adverse market conditions.

It is interesting to note that Boise Cascade recently spent $25 million to build an e-commerce system so that their customers could order over the Internet. And, they spent 18 months aggressively migrating their customers to use it. It seems to have paid off, with over 85% of their customers purchasing from Boise online. In a seemingly parallel strategy Boise bought Office Max. Parallel because Boise recognizes the value of getting close to the customer instead of close to the paper machine.

Time will tell when they go public if this strategy paid off.