Issue Date:11/24/2008
Manufacturer News Heritage Wide Plank Flooring (Riverhead, N.Y.) has opened a new showroom at 205 Marcy Ave., Riverhead, NY 11901. For more information, call 877/777-4200.
Allwood Import LLC (Portland, Oregon) has partnered with Plumly Flooring LLC (Winchester, Va.) to establish an East Coast distribution center. It is located at 600 N. Kent St., Winchester, VA 22601.
Mapei Corporation (Deerfield Beech, Fla.) recently doubled the size of its Garland, Texas-based manufacturing plant. The company celebrated by hosting a gathering on Nov. 19. Customers, vendors, employees and visitors from the company's Italian headquarters joined. Tours were given of the expansion, which included the warehouse and shipping departments and an expanded urethane-production line.
Distributor News McEllin Company Inc. (Waltham, Ma.) and its new owners, Paul Connolly and Ed Cox, celebrated the company's 25th anniversary by hosting an open house on Nov. 8. Representatives from 3M, Absolute Coatings Inc., Basic Coatings, Bona US, Dura Seal, Lenmar Inc., Palo Duro Hardwoods Inc., Perma Inc. and Porta-Nails Inc. were on hand. Many prizes were given away, including a Hummel Belt Sander.
Horizon Forest Products (Raleigh, N.C.) and Long Floor (Richmond, Va.) gave away a 2008 Corvette, valued at more than $58,000, to Jimmy Jefferson of Cheek's Flooring Service (Gloucester, Va.) during the companies' Customer Appreciation Night. Jefferson has been a customer of the companies for more than 30 years.
On the Move All American Wood Register Co. (Wonder Lake, Ill.) has moved to a new facility. The company's new shipping and mailing address is: 7103 Sands Road, Crystal Lake, IL 60014. For more information, call 815/356-1000.
Job Watch EcoTimber (Richmond, Ca.) is currently seeking regional sales managers in the Northeast, Southeast and West. Responsibilities include development and training of both new and existing retailers and flooring contractors. The ideal candidates will have a college degree, prior sales experience and knowledge of wood flooring. Awareness of environmental issues is a plus. The candidates must also be willing to travel. The company offer s competitive compensation that includes salary, commission, expenses and benefits. For more information, visit www.ecotimber.com. Resumes and salary requirements should be faxed to 510/809-8283 or e-mailed to [email protected].
Mark Your Calendar The UBC Certificate in Industrial Wood Finishing will again be offered this year. The training program consists of 100 hours of online learning between January and March followed by a six-day practical session in Vancouver from April 20-25. Registration is underway and is limited to 20 people. For more information, visit www.cawp.ubc.ca, email [email protected], or call 604/822-2634 or 866/822-2297.
By the Numbers October single-family housing starts fell from the September figure of 549,000 to 531,000, a 3.3 percent decline, according to the U.S. Department of Commerce, the slowest pace since October of 1981. Overall, October housing starts fell to a seasonally adjusted annual rate of 791,000, a 4.5 percent decline from the revised September estimate of 828,000, which was the slowest pace recorded for any month since the government started keeping track in 1959.
The residential remodeling industry furthered its slump in the third quarter, according to the Remodeling Market Index (RMI) from by the National Association of Home Builders (NAHB). The indicator declined 8.3 points, to 33.5 from 41.8. Future expectations are not any better. That number declined 10.3 points to 27.7 from 38. Both current figures are historic lows since the RMI was first calculated in 2001. Any RMI above 50 indicates that the majority of remodelers view market conditions as improving. The RMI has been running below 50 since the final quarter of 2005.
The National Association of Home Builders/Wells Fargo Housing Market Index (HMI), which measures current sales conditions of single-family homes, fell five points to 9 in November, its lowest point since the index was created in 1985. The decline was attributed to "worsening problems in the financial markets, job market weakness and overwhelming uncertainty about the economy," according to the release. The HMI measures three components: perceptions of current single-family home sales, expectations throughout the next six months and prospective-buyer traffic. The index gauging current sales conditions fell six points to 8, which was a new record low. Also, the index gauging traffic of prospective buyers fell four points to 7, another record low. Meanwhile, the index gauging sales expectations in the next six months remained unchanged at 19, a record low.
NWFA Member Services
The NWFA's newest contractor profit report, "Hanging Tough in Tough Times," provides the most comprehensive set of financial performance benchmarks in the industry. The report compares two firms generating sales of $2,318,380. The typical firm's profit margin is 2.3 percent, while the high-profit firm's profit margin is 3.4 percent, resulting in $25,500 more in profits. This is accomplished by focusing on critical point variables such as sales growth, gross margin, payroll and non-payroll expenses, sales to fixed assets, and collections. The full report is available online at www.nwfa.org. Click on "Services and Supplies," then "Statistical Reports," and select "Profit Improvement Reports" from the report options available.
