Article Number : 3012 |
|
Article Detail |
|
 | |
| Date | 2/22/2008 8:06:38 AM |
| Written By | LGM & Associates Technical Flooring Services |
| View this article at: | //floorbiz.com/BizResources/NPViewArticle.asp?ArticleID=3012 |
| Abstract | CASUALTIES: With the economy slowing and in the wake of the collapsed housing market, there has been a rash of retailer bankruptcies and store closures in the residential sector. It seems that commercial and high-end residential sales are strong and steady... |
| Article | CASUALTIES: With the economy slowing and in the wake of the collapsed housing market, there has been a rash of retailer bankruptcies and store closures in the residential sector. It seems that commercial and high-end residential sales are strong and steady. But mills are tightening credit requirements and reducing the risk with marginal dealers. Many manufacturers believe we are already in a recession, and some feel we are experiencing the worst downturn in the economy in the past half-century or more. Whether the industry has both feet in a recession, the depth of the slump and its duration are questions that only time can answer. What’s equally important is the stance and attitude of the retailers who have seen the thinning of the herd andknow they must be ready for the turnaround. ON THE MARK: Surfaces 2008 is in the record book and it was a success for exhibitors and visitors alike. As for the visitors, they were, in the main, retailers who were acutely aware that business was slipping into a coma and that they had to stay alert and resolute in riding out the economic tsunami. Surfaces had it all: A stunning and exhaustive array of new products, many fresh and innovative programs and promotions, and an educational agenda that was informative and very helpful to retailers coping with sluggish business. Those aggressive and undaunted dealers who work smarter not harder keep abreast of industry developments, advancing technology and changing personnel, particularly executive staff. Retailers who endure the current crisis have not done so by accident; they strive for success, relentlessly, and conquer adversity because they stay vigilant and always poised to be in the front line of the recovery. ABERRATION: As I said earlier, the commercial and high-end residential markets are thriving despite the housing slump. Ken Simonson, chief economist for the Associated General Contractors of America (AGC), said, “Nonresidential construction employment eked out a small gain in January, implying that the spending rise of 2007 will continue.” He also explained that the Census Bureau numbers show growth, mostly at double-digit rates, in 15 of 16 nonresidential categories— everything but religious structures, which are closely linked to new housing. “For 2008, I expect continued expansion in power, energy, communication, hospital and higher education construction, and a modest increase in the nonresidential total, before taking cost escalation into account,” said Simonson. OFF THE MARK: You think only Americans live in a fantasy world? Last week Jay Leno, the NBC-TV late night host, mentioned a survey that showed more than 50% of the teenagers polled could not find Canada on a map of North America. If that’s true, it’s difficult to defend. But I came across this tidbit: “Britons are losing their grip on reality, according to a poll nearly a quarter think Winston Churchill was a myth, while the majority believe Sherlock Holmes was real.” As an American, I was pleased. It’s always comforting to know there’s someone dumber than you. The survey continued: “It found that 47% thought 12th century King Richard the Lionhearted was a myth and 23% thought Crimean War nurse Florence Nightingale did not actually exist.” A UK television station interviewed 3,000 people in the survey and one bloke thought Churchill was a cigar. STAR POWER: Karastan’s 2008 “Make A Statement” national advertising campaign, has added a bright new star to its celebrity collection— Kelly Preston, model turned actress and the wife of John Travolta. Says Karastan: “Kelly embodies the qualities of a ‘statement maker’—originality and authenticity, integrity and moral courage.” She joins Mariska Hargitay, Evangeline Lilly, Marcia Kilgore and Andie MacDowell in the Karastan line-up. |