Grocers and home improvement retailers are some of the companies that may see continued business growth in the wake of Tropical Storm Irene's departure, an analyst said Tuesday.
As Irene aimed for the East Coast, consumers ran out to pick up emergency supplies like food, water, batteries and generators, a boon to stores where they shopped.
Investment Research analyst Deborah Weinswig says consumers will probably continue to stock up on goods this week as they recover from the storm's battering over the weekend.
"We expect consumers to replenish supplies in the coming week, as power outages likely spoiled food, while flooding and transit delays kept consumers from traveling to stores," she wrote in a client note.
Weinswig said Kroger Co. ( KR - news - people ) and Safeway Inc. ( SWY - news - people ) were likely least affected by the hurricane, with only 10 percent and 4 percent of their respective store bases exposed to Irene.
Kroger's stock fell 27 cents to $23.08 in afternoon trading, while shares of Safeway added 6 cents to $17.86.
Article Source: http://www.forbes.com/feeds/ap/2011/08/30/business-specialized-consumer-services-us-irene-retail-sector-snap_8650421.html
Wednesday, 31 August 2011
Monday, 29 August 2011
Home-Improvement Chains Work To Resume Full Service
Home-improvement chains are almost entirely back to full operations, providing supplies to aid in the clean up and rebuilding after Hurricane Irene delivered an uneven blow to a vast swath of the eastern U.S.
Just one Lowe's Cos. (LOW) store remained closed Monday, out of more than 250 locations in Irene's path, said spokeswoman Karen Cobb. The Lowe's of Hackettstown, N.J., a town of about 10,000 in the northwest part of the state, is closed per order of local emergency management officials due to localized flooding in the town, and will reopen when allowed. No stores were damaged to the point of forcing a closure, she added, and only a small handful suffered "very minor" damage.
Only five of the more than 400 Home Depot Inc. (HD) stores in areas affected by Irene were closed Monday, spokesman Stephen Holmes said in an email, and some of those could reopen later today. Two stores in north-central New Jersey sustained flooding, and those stores are currently being cleaned, while another store in the state was closed due to a local road closure, and one store each in Connecticut and Massachusetts were closed in areas that had been evacuated by authorities. The Massachusetts store did take on water as well, he said, and is also in the process of being cleaned while it waits for the evacuation to lift.
Though neither company is providing details of how the hurricane may affect sales, demand for preparedness and clean-up items was brisk before and remains so after, the pair said.
Both Home Depot and Lowe's have extensive emergency response services and distribution networks that are rushing to bring generators and other high-demand items to the stores and customers that need them. There is still a heavy call for flashlights and batteries, and chainsaws, sump pumps, trash bags, cleaning supplies and wet/dry vacuums.
Lowe's said Irene "has been on our radar since it was a mere tropical storm off the coast of Africa," Cobb said, and it has also prepared for flooding in Irene's aftermath by keeping up supplies of goods like carpeting and home appliances.
Since the disaster didn't reach the cataclysmic proportions of some forecasters, except for certain areas plagued by terrible flooding, it is possible some customers who over-prepared and didn't need some of the high-ticket generators and other merchandise would return them. Then again, said Cobb, hurricane season isn't yet over and winter is fast approaching in the Northeast, so many customers may opt to keep them, rather than brave the rush to buy them again when Mother Nature next produce panic-inducing weather.
Article Source: http://online.wsj.com/article/BT-CO-20110829-709487.html
Just one Lowe's Cos. (LOW) store remained closed Monday, out of more than 250 locations in Irene's path, said spokeswoman Karen Cobb. The Lowe's of Hackettstown, N.J., a town of about 10,000 in the northwest part of the state, is closed per order of local emergency management officials due to localized flooding in the town, and will reopen when allowed. No stores were damaged to the point of forcing a closure, she added, and only a small handful suffered "very minor" damage.
Only five of the more than 400 Home Depot Inc. (HD) stores in areas affected by Irene were closed Monday, spokesman Stephen Holmes said in an email, and some of those could reopen later today. Two stores in north-central New Jersey sustained flooding, and those stores are currently being cleaned, while another store in the state was closed due to a local road closure, and one store each in Connecticut and Massachusetts were closed in areas that had been evacuated by authorities. The Massachusetts store did take on water as well, he said, and is also in the process of being cleaned while it waits for the evacuation to lift.
Though neither company is providing details of how the hurricane may affect sales, demand for preparedness and clean-up items was brisk before and remains so after, the pair said.
Both Home Depot and Lowe's have extensive emergency response services and distribution networks that are rushing to bring generators and other high-demand items to the stores and customers that need them. There is still a heavy call for flashlights and batteries, and chainsaws, sump pumps, trash bags, cleaning supplies and wet/dry vacuums.
Lowe's said Irene "has been on our radar since it was a mere tropical storm off the coast of Africa," Cobb said, and it has also prepared for flooding in Irene's aftermath by keeping up supplies of goods like carpeting and home appliances.
Since the disaster didn't reach the cataclysmic proportions of some forecasters, except for certain areas plagued by terrible flooding, it is possible some customers who over-prepared and didn't need some of the high-ticket generators and other merchandise would return them. Then again, said Cobb, hurricane season isn't yet over and winter is fast approaching in the Northeast, so many customers may opt to keep them, rather than brave the rush to buy them again when Mother Nature next produce panic-inducing weather.
Article Source: http://online.wsj.com/article/BT-CO-20110829-709487.html
Time For Home Improvement
Much has been spoken about India's terrible trounce in England - right from the lack of preparedness, poor planning to crammed schedule, everything has been meticulously discussed. But few have looked beyond the obvious and deliberated upon the fundamentals.
MAK Pataudi, with his astute eye for cricket, hit the nail on its head by pointing out the importance of a robust first-class structure to strengthen Indian cricket. That India's poor show could be the result of a deteriorating domestic structure is an idea worth a thought. So, what is it that is marring the foundation of Indian cricket? Here's a look at the snags that need some urgent attention:
Irani Trophy (October 1-5) - The most prestigious match of the season between the defending Ranji Champions and a team made up of the cream of Indian cricket marks the beginning of the new first-class season. It's a five-day match to showcase India's best talent. A brilliant way to start the season, it can serve its purpose only if the best cricketers in the country are available to play.
I remember playing for Delhi in an Irani trophy match against the Anil Kumble-led Rest of India. It was a spectacle. But this year, the coveted Irani trophy clashes with the Champions League, which means cricketers from four franchisees won't be available for selection. Haven't we devalued the most important match of the season?
Challenger Trophy (October 10-13) - Another brilliant tournament with a noble concept, giving fringe players a unique chance to rub shoulders with the best in the country in a 50 overs format. But over the last few years, even this tournament has faced the wrath of congested international and domestic calendars. Now, Challenger Trophy finishes in four days straight - there isn't even a gap of a day between the league matches and the final - and the senior team is seldom available to lift the standard. This year, even the availability of good domestic cricketers is in doubt because the tournament starts a day after the Champions League final. Is it not possible to find four days in the international calendar when the seniors are available?
Syed Mushtaq Ali Trophy (October 20-26): The league phase of our national T20 tournament, held only a week before the Ranji Trophy, throws the preparation for the longer format completely off-track. If you prepare well for this T20 tournament, you sacrifice the preparation for Ranji Trophy. And if you prepare thoroughly for the all-important Ranji contests, you launch the T20 tournament on a low. Also, back-to-back T20 games leave little time to recuperate.
And after all this, the national T20 champions don't even qualify for the Champions League. In any case, conducting another T20 tournament defies logic when IPL is showcased as the premier T20 competition. Also, the knockouts of this T20 competition are held in March, five months after the league phase.
Ranji Trophy (November 3-January 15) - Firstly, we need to ask ourselves if we want Ranji Trophy to be the most important tournament. If so, we need to revamp this format which rewards mediocrity.
Scheduling: In the present Ranji structure, there's a four-day match played every week with only three days break between consecutive matches. Now, if you finish a match in Jammu and if your next match is in Kochi, you spend a full day travelling. The next day is spent recuperating, leaving only a day to prepare for the next match. You can deal with this schedule for a couple of matches, and to endure this for seven or eight weeks is backbreaking.
Because of the schedule, fast-bowlers learn to operate at 60-70 per cent of their capacity, else it is impossible to last the season without injury. No wonder one sees a major drop in pace from one season to the next. It's imperative to increase the gap by at least one more day, if not two days.
Structure: The current division of teams - in Elite and Plate groups - leaves little cricket to be played by the Plate teams and the Elite ones who fail to qualify for the knockouts. It is observed that as many as 10 teams play only five matches a season, and another five teams play only six.
Let's not forget the season lasts only five or six weeks. Is that what you play for an entire year? A niggle or mild illness could cost a player a full year. The solution is to split 27 teams into 3 groups of nine teams each. This will ensure that every team plays at least 8 matches in a season, increase the gap by a day and, perhaps, make all games a five-day affair.
Points System: In the current scenario, the emphasis is on taking the first-innings lead, which I feel is an incentive to play mediocre cricket. Gaining a few runs as lead isn't the true reflection of a team's strength. We must change the points system to ensure there's little to gain in the first innings but substantial rewards for an outright result. How about awarding batting and bowling points throughout the game and 10 bonus points for a win?
Better Wickets, Better Rewards: It's important to have pitches that help bowlers too. BCCI's pitch committee has done precious little to improve pitch standards. It is rather ambitious to expect players, brought up on surfaces with low bounce and no lateral movement, to suddenly find ways to succeed in hostile conditions.
pay Disparity: Another important issue is to bring parity between the payments for an IPL season and a domestic season. If there isn't a huge difference in pay packets, players won't sacrifice technique for acquiring T20 skills.
Penalize: The onus of improving the quality of cricket in Ranji Trophy is on the state associations and they're given huge sums by the BCCI to do the same. Every association's contribution should be assessed by two yardsticks. No. 1 - the number of quality players produced at various levels, and 2 - the team's performance in national tournaments. If an association continues to underperform on both counts, they should be financially penalized. How about deducting 20 per cent from their annual package?
Duleep Trophy (January 19-February 2) - what used to be one of the best tournaments is perhaps now redundant. It starts only three days after the Ranji finals and is a knockout tournament, which in effect means that teams can play a maximum of two matches. Are a couple of innings enough to assess a player? Is it possible for an assorted group of players to play as a team on such a short notice? If the answer is a no, please scrap this tournament and give Ranji its deserved space.
Vijay Hazare Trophy (February 10-March 1) - Even while Ranji Trophy has moved on to being played between Elite and Plate teams, the Vijay Hazare Trophy (the one-day competition) is still played among zonal teams. The league phase lasts a week. It means having to play on consecutive days many times and at non-descript venues. Once again, quantity compromises quality.
The knockout matches are of good quality but the shoddy league phase devalues the tournament. I recommend the same three-tier Ranji structure to be followed in here, to ensure enough games for all teams and adequate rest in between.
Deodhar Trophy (March 6-9): Another good format, unfortunately serving little or no purpose, wrapping up in four days. If we don't have the time to do justice to tournaments of this quality, then let's not conduct them at all. Half-hearted efforts are no good.
India's hammering in England is a shocker. But it is imperative to not get absorbed by defeat and instead look for a disaster management plan. The way ahead, in my opinion is to fortify first-class cricket, the breeding ground of present and future cricketers.
Article Source: http://cricket.yahoo.com/columns/aakashchopra/28/28aakashchopra
MAK Pataudi, with his astute eye for cricket, hit the nail on its head by pointing out the importance of a robust first-class structure to strengthen Indian cricket. That India's poor show could be the result of a deteriorating domestic structure is an idea worth a thought. So, what is it that is marring the foundation of Indian cricket? Here's a look at the snags that need some urgent attention:
Irani Trophy (October 1-5) - The most prestigious match of the season between the defending Ranji Champions and a team made up of the cream of Indian cricket marks the beginning of the new first-class season. It's a five-day match to showcase India's best talent. A brilliant way to start the season, it can serve its purpose only if the best cricketers in the country are available to play.
I remember playing for Delhi in an Irani trophy match against the Anil Kumble-led Rest of India. It was a spectacle. But this year, the coveted Irani trophy clashes with the Champions League, which means cricketers from four franchisees won't be available for selection. Haven't we devalued the most important match of the season?
Challenger Trophy (October 10-13) - Another brilliant tournament with a noble concept, giving fringe players a unique chance to rub shoulders with the best in the country in a 50 overs format. But over the last few years, even this tournament has faced the wrath of congested international and domestic calendars. Now, Challenger Trophy finishes in four days straight - there isn't even a gap of a day between the league matches and the final - and the senior team is seldom available to lift the standard. This year, even the availability of good domestic cricketers is in doubt because the tournament starts a day after the Champions League final. Is it not possible to find four days in the international calendar when the seniors are available?
Syed Mushtaq Ali Trophy (October 20-26): The league phase of our national T20 tournament, held only a week before the Ranji Trophy, throws the preparation for the longer format completely off-track. If you prepare well for this T20 tournament, you sacrifice the preparation for Ranji Trophy. And if you prepare thoroughly for the all-important Ranji contests, you launch the T20 tournament on a low. Also, back-to-back T20 games leave little time to recuperate.
And after all this, the national T20 champions don't even qualify for the Champions League. In any case, conducting another T20 tournament defies logic when IPL is showcased as the premier T20 competition. Also, the knockouts of this T20 competition are held in March, five months after the league phase.
Ranji Trophy (November 3-January 15) - Firstly, we need to ask ourselves if we want Ranji Trophy to be the most important tournament. If so, we need to revamp this format which rewards mediocrity.
Scheduling: In the present Ranji structure, there's a four-day match played every week with only three days break between consecutive matches. Now, if you finish a match in Jammu and if your next match is in Kochi, you spend a full day travelling. The next day is spent recuperating, leaving only a day to prepare for the next match. You can deal with this schedule for a couple of matches, and to endure this for seven or eight weeks is backbreaking.
Because of the schedule, fast-bowlers learn to operate at 60-70 per cent of their capacity, else it is impossible to last the season without injury. No wonder one sees a major drop in pace from one season to the next. It's imperative to increase the gap by at least one more day, if not two days.
Structure: The current division of teams - in Elite and Plate groups - leaves little cricket to be played by the Plate teams and the Elite ones who fail to qualify for the knockouts. It is observed that as many as 10 teams play only five matches a season, and another five teams play only six.
Let's not forget the season lasts only five or six weeks. Is that what you play for an entire year? A niggle or mild illness could cost a player a full year. The solution is to split 27 teams into 3 groups of nine teams each. This will ensure that every team plays at least 8 matches in a season, increase the gap by a day and, perhaps, make all games a five-day affair.
Points System: In the current scenario, the emphasis is on taking the first-innings lead, which I feel is an incentive to play mediocre cricket. Gaining a few runs as lead isn't the true reflection of a team's strength. We must change the points system to ensure there's little to gain in the first innings but substantial rewards for an outright result. How about awarding batting and bowling points throughout the game and 10 bonus points for a win?
Better Wickets, Better Rewards: It's important to have pitches that help bowlers too. BCCI's pitch committee has done precious little to improve pitch standards. It is rather ambitious to expect players, brought up on surfaces with low bounce and no lateral movement, to suddenly find ways to succeed in hostile conditions.
pay Disparity: Another important issue is to bring parity between the payments for an IPL season and a domestic season. If there isn't a huge difference in pay packets, players won't sacrifice technique for acquiring T20 skills.
Penalize: The onus of improving the quality of cricket in Ranji Trophy is on the state associations and they're given huge sums by the BCCI to do the same. Every association's contribution should be assessed by two yardsticks. No. 1 - the number of quality players produced at various levels, and 2 - the team's performance in national tournaments. If an association continues to underperform on both counts, they should be financially penalized. How about deducting 20 per cent from their annual package?
Duleep Trophy (January 19-February 2) - what used to be one of the best tournaments is perhaps now redundant. It starts only three days after the Ranji finals and is a knockout tournament, which in effect means that teams can play a maximum of two matches. Are a couple of innings enough to assess a player? Is it possible for an assorted group of players to play as a team on such a short notice? If the answer is a no, please scrap this tournament and give Ranji its deserved space.
Vijay Hazare Trophy (February 10-March 1) - Even while Ranji Trophy has moved on to being played between Elite and Plate teams, the Vijay Hazare Trophy (the one-day competition) is still played among zonal teams. The league phase lasts a week. It means having to play on consecutive days many times and at non-descript venues. Once again, quantity compromises quality.
The knockout matches are of good quality but the shoddy league phase devalues the tournament. I recommend the same three-tier Ranji structure to be followed in here, to ensure enough games for all teams and adequate rest in between.
Deodhar Trophy (March 6-9): Another good format, unfortunately serving little or no purpose, wrapping up in four days. If we don't have the time to do justice to tournaments of this quality, then let's not conduct them at all. Half-hearted efforts are no good.
India's hammering in England is a shocker. But it is imperative to not get absorbed by defeat and instead look for a disaster management plan. The way ahead, in my opinion is to fortify first-class cricket, the breeding ground of present and future cricketers.
Article Source: http://cricket.yahoo.com/columns/aakashchopra/28/28aakashchopra
Saturday, 27 August 2011
Hurricane Irene causes run on local hardware, home-improvement stores.
Area residents are rushing local home improvement stores in the area in preparation for Hurricane Irene. Bob Resch, of Bombergers Store in Lititz reports that the store is completely sold out of generators, and is taking a waiting list for rental generators..
“Residents are also looking for lumber, sand, cinder blocks, and sump pumps.”
The store has also seen a run on customers looking for propane fills, flashlights and batteries, and even items such as axes and tree pruning saws as residents prepare for the storm. Resch says the store remains well stocked on these items, but they are going quickly.
“The next rush will come on Monday when the storm is over, and customers will be looking for tools to clean up.”
Loneneckers Hardware in Manheim reports a similar situation. All of their generators are either already sold or committed to customers
Copyright 2011 Newport Television LLC All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Article Source: http://www.whptv.com/news/local/story/Hurricane-Irene-causes-run-on-local-hardware-home/ZPvY6FN-kkOh2D-UtqI5oQ.cspx
“Residents are also looking for lumber, sand, cinder blocks, and sump pumps.”
The store has also seen a run on customers looking for propane fills, flashlights and batteries, and even items such as axes and tree pruning saws as residents prepare for the storm. Resch says the store remains well stocked on these items, but they are going quickly.
“The next rush will come on Monday when the storm is over, and customers will be looking for tools to clean up.”
Loneneckers Hardware in Manheim reports a similar situation. All of their generators are either already sold or committed to customers
Copyright 2011 Newport Television LLC All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Article Source: http://www.whptv.com/news/local/story/Hurricane-Irene-causes-run-on-local-hardware-home/ZPvY6FN-kkOh2D-UtqI5oQ.cspx
Tuesday, 23 August 2011
Stocks edge up on tech, home improvement
Here's what passes for the new normal on the stock market: The Dow Jones industrial average soars 200 points in the morning, gives up nearly all those gains by lunch, then jumps back another 100 points by the early afternoon.
It was the latest wild ride for stocks this month, which has seen eight days of more than 200-point swings in the Dow.
Investors increasingly believe the U.S. may fall into another recession. Manufacturing dropped sharply last month; there are concerns that consumers will cut back their spending, especially after they've watched stocks plunge; and earlier in August the U.S. government's credit rating was downgraded. All that led investors to dump risky assets, leaving the Dow down 10% since the month began.
Sam Stovall, chief investment strategist at Standard & Poor's equity research, cautioned against reading too much into the market's early jump.
"A two-hour rally isn't enough to change the trend," Mr. Stovall said. "It's natural in a declining market to have some days that run counter to the overall trend." The S&P 500 index has lost 12% this month, putting the broad market measure on course for its worst August since 1998.
After falling four weeks in a row, some stocks are appearing too cheap for investors to pass up, Mr. Stovall said.
Many traders are looking ahead to a speech by Ben Bernanke, the Federal Reserve chairman, at an annual meeting in Jackson Hole, Wyo. on Friday. Last year, Mr. Bernanke's speech at Jackson Hole set the stage for a $600 billion program to stimulate the economy through buying Treasury bonds. Some analysts believe the Fed may make another move to help the flagging U.S. economy.
Mr. Stovall thinks some investors are banking on Mr. Bernanke offering some soothing words in his speech Friday. "Even if the Fed just lets people know they're not asleep, that would help," he said.
At close, the Dow was up 37 points, or 0.3%, at 10,855.
S&P 500 remained flat at 1,124 after earlier rising as much as 22 points. The Nasdaq was up 4 points, or 0.2%, to 2,345.
The Chicago Board of Options Exchange's volatility index has soared 68% this month. That's a sign investors are anticipating more wide swings in the S&P 500, the index most professional investors use.
Treasury bond prices and gold have been rising this month as investors seek refuge from the turmoil in stocks. The yield on the 10-year Treasury note dipped below 2% last week, a record low. The yield was trading at 2.1% Monday afternoon. Yields on bonds fall when demand for them increases.
Gold rose 2% to $1,890. Gold has risen 16% so far in August.
Seven of the 10 industry groups in the S&P 500 rose. Telecom stocks rose 1%, the most of any industry in the index. Hewlett-Packard Co. rose 4%, the most of the 30 large companies in the Dow Jones industrial average.
Bank stocks, which have been getting clobbered over the past month, fell again. J.P. Morgan Chase & Co. fell 2%, and U.S. Bancorp fell 1.4%.
Boeing Co. rose 1.6% after Britain's Royal Air Force said it would buy 14 Chinook helicopters for $1.6 billion.
Lowe's Cos. rose 1.5%. The home improvement retailer said it will buy back up to $5 billion stock over the next two to three years. Last week, Lowe's lowered its sales forecast for the second half of the year as shoppers grow more worried about the economy.
Stocks have fallen for each of the past four weeks on worries that the U.S. might enter another recession. The S&P 500 index lost 4.7% last week. The sharpest drops came Thursday with news of weaker manufacturing in the mid-Atlantic states and an increase in the number of people who applied for unemployment benefits.
No major economic reports are due out Monday. Later in the week, traders will be sorting through figures on new home sales, chain store sales, durable goods orders and weekly claims for unemployment benefits to see if another recession could be on the way. The government will also release revised figures for second-quarter economic growth Friday. Another significant revision downward could alarm investors.
©Copyright 2011 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
Article Source: http://www.crainsnewyork.com/article/20110822/FREE/110829995
It was the latest wild ride for stocks this month, which has seen eight days of more than 200-point swings in the Dow.
Investors increasingly believe the U.S. may fall into another recession. Manufacturing dropped sharply last month; there are concerns that consumers will cut back their spending, especially after they've watched stocks plunge; and earlier in August the U.S. government's credit rating was downgraded. All that led investors to dump risky assets, leaving the Dow down 10% since the month began.
Sam Stovall, chief investment strategist at Standard & Poor's equity research, cautioned against reading too much into the market's early jump.
"A two-hour rally isn't enough to change the trend," Mr. Stovall said. "It's natural in a declining market to have some days that run counter to the overall trend." The S&P 500 index has lost 12% this month, putting the broad market measure on course for its worst August since 1998.
After falling four weeks in a row, some stocks are appearing too cheap for investors to pass up, Mr. Stovall said.
Many traders are looking ahead to a speech by Ben Bernanke, the Federal Reserve chairman, at an annual meeting in Jackson Hole, Wyo. on Friday. Last year, Mr. Bernanke's speech at Jackson Hole set the stage for a $600 billion program to stimulate the economy through buying Treasury bonds. Some analysts believe the Fed may make another move to help the flagging U.S. economy.
Mr. Stovall thinks some investors are banking on Mr. Bernanke offering some soothing words in his speech Friday. "Even if the Fed just lets people know they're not asleep, that would help," he said.
At close, the Dow was up 37 points, or 0.3%, at 10,855.
S&P 500 remained flat at 1,124 after earlier rising as much as 22 points. The Nasdaq was up 4 points, or 0.2%, to 2,345.
The Chicago Board of Options Exchange's volatility index has soared 68% this month. That's a sign investors are anticipating more wide swings in the S&P 500, the index most professional investors use.
Treasury bond prices and gold have been rising this month as investors seek refuge from the turmoil in stocks. The yield on the 10-year Treasury note dipped below 2% last week, a record low. The yield was trading at 2.1% Monday afternoon. Yields on bonds fall when demand for them increases.
Gold rose 2% to $1,890. Gold has risen 16% so far in August.
Seven of the 10 industry groups in the S&P 500 rose. Telecom stocks rose 1%, the most of any industry in the index. Hewlett-Packard Co. rose 4%, the most of the 30 large companies in the Dow Jones industrial average.
Bank stocks, which have been getting clobbered over the past month, fell again. J.P. Morgan Chase & Co. fell 2%, and U.S. Bancorp fell 1.4%.
Boeing Co. rose 1.6% after Britain's Royal Air Force said it would buy 14 Chinook helicopters for $1.6 billion.
Lowe's Cos. rose 1.5%. The home improvement retailer said it will buy back up to $5 billion stock over the next two to three years. Last week, Lowe's lowered its sales forecast for the second half of the year as shoppers grow more worried about the economy.
Stocks have fallen for each of the past four weeks on worries that the U.S. might enter another recession. The S&P 500 index lost 4.7% last week. The sharpest drops came Thursday with news of weaker manufacturing in the mid-Atlantic states and an increase in the number of people who applied for unemployment benefits.
No major economic reports are due out Monday. Later in the week, traders will be sorting through figures on new home sales, chain store sales, durable goods orders and weekly claims for unemployment benefits to see if another recession could be on the way. The government will also release revised figures for second-quarter economic growth Friday. Another significant revision downward could alarm investors.
©Copyright 2011 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
Article Source: http://www.crainsnewyork.com/article/20110822/FREE/110829995
Tuesday, 16 August 2011
Kenai loses major employer with Lowe's closure
Kenai, Alaska lost a major employer Monday with the closing overnight of the Lowe's home improvement store less than three years after it opened.
Mayor Pat Porter blamed the economy and called the situation "a huge loss."
"The recession is probably what has done this," she said as she headed to meet with the city manager to discuss the closure. "As soon as they built this store the bottom fell out nationally, including the housing market."
The Kenai store was one of seven nationwide that was closed overnight, according to Lowe's Cos. ( LOW - news - people ) spokeswoman Stacey Lentz. She said despite the hard work of employees the 94,000-squre-foot Kenai location never met sales expectations.
A phone call placed to the store Monday was answered by a recorded voice saying, "We are sorry but this location is permanently closed," and directing customers to the company's next-closest stores in Anchorage - 80 miles away.
There are three Lowe's stores in Anchorage, one in Wasilla and one in Fairbanks.
Article Source: http://www.forbes.com/feeds/ap/2011/08/15/business-specialized-consumer-services-us-kenai-lowe-apos-s-alaska_8624454.html
Mayor Pat Porter blamed the economy and called the situation "a huge loss."
"The recession is probably what has done this," she said as she headed to meet with the city manager to discuss the closure. "As soon as they built this store the bottom fell out nationally, including the housing market."
The Kenai store was one of seven nationwide that was closed overnight, according to Lowe's Cos. ( LOW - news - people ) spokeswoman Stacey Lentz. She said despite the hard work of employees the 94,000-squre-foot Kenai location never met sales expectations.
A phone call placed to the store Monday was answered by a recorded voice saying, "We are sorry but this location is permanently closed," and directing customers to the company's next-closest stores in Anchorage - 80 miles away.
There are three Lowe's stores in Anchorage, one in Wasilla and one in Fairbanks.
Article Source: http://www.forbes.com/feeds/ap/2011/08/15/business-specialized-consumer-services-us-kenai-lowe-apos-s-alaska_8624454.html
Friday, 12 August 2011
5 Things To Watch Next Week: Home Improvement, PC Giants and More
There's never a dull moment on Wall Street, and next week will be no exception as some big-name companies spell out the state of their businesses in their quarterly reports. Here are some items (official quarterly reporting and otherwise) that will shape the week ahead.
1. Orange aprons on parade
There's little reason to get excited about home improvement these days. Hardwood discounter Lumber Liquidators (LL) and patio decking specialist Trex (TREX) saw their stocks get pounded last month when they hosed down their near-term outlooks.
Investors will get a clearer picture of the carnage when Lowe's (LOW) and Home Depot (HD) report on Monday and Tuesday, respectively. However, the market has already made up its mind. Both of the do-it-yourself superstore chains are trading near their 52-week lows. Analysts, on the other hand, see things differently and expect both retailers to post earnings growth of a little over 15% next week.
2. Computing's elders hold court
We're living in a time when "good enough" computing is leaving a dent in the traditional computing industry. Folks no longer need to fire up the PC or laptop when a smartphone or tablet will do the trick. It's in this climate that Dell (DELL) and Hewlett-Packard (HPQ) will check in with their quarterly results.
The two PC giants have responded in different ways:
Dell has been slow to move into handheld gadgetry, preferring simply to slash its once-bulky cost structure.
HP bought Palm and has been trying to play a bigger role on the business services side, where margins are more robust.
Both paths appear to be working as far as profitability goes, as analysts see Dell and HP posting higher earnings during the quarter.
3. Shake the mothballs off those bell bottoms
On Monday, Sirius XM Radio (SIRI) debuts a new commercial-free channel devoted to the glory days of disco.
The satellite radio provider is teaming up with some of the legends behind the iconic Studio 54 dance club to crank out groovy programming. Studio 54 Radio will feature retro club DJ mixes along with interviews and other club-related content.
Obviously the new channel won't be for everyone, but that's pretty much the point with Sirius XM. With dozens of channels at its disposal, Sirius XM can do the deep genre dives to win over a niche market at the national level. Can your local FM station do that?
4. Searching for thrifty shoppers
Wal-Mart (WMT) has a problem. Its signature greeters aren't welcoming as many shoppers as they used to. Same-store sales have surprisingly fallen for eight quarters in a row, and there's little reason to believe the streak won't be stretched to nine consecutive quarters of negative comps when Wal-Mart reports on Tuesday.
What is happening at Wal-Mart? A simple explanation would be that the economy turned against the world's largest retailer. Wal-Mart held up well during the early stages of the last recession, as thrifty consumers traded down to the discounter for their essentials. A popular argument is that many of those shoppers have been trading back up over the past two years.
There are probably other trends working against Wal-Mart. Online shopping has taken a bite out of most bricks-and-mortar chains, even those like Wal-Mart with strong e-commerce initiatives. Wal-Mart is also a victim of the digitization of media. All of that space devoted to CDs, books, movies, and video games has to be hurting now that folks are downloading media directly.
Either way, Wal-Mart won't be the only way to take the pulse of the penny pinchers. Target (TGT), Dollar Tree (DLTR), Ross Stores (ROST), and TJ Maxx parent TJX (TJX) will all be reporting their latest quarterly results next week.
5. Seeing if the Easy Button's on the fritz
Investors should care about Wednesday's earnings report out of Staples (SPLS). The darling in office supply retail is a great proxy for the state of small businesses out there. If folks are buying new ink toner cartridges and task chairs, it's a good sign that business owners are optimistic. As long as we're not talking about a run on red-ink pens, a strong Staples is a fair indicator of an improving economy.
Unfortunately, Staples hasn't been a very good performer lately. Analysts see Staples earning as much as it did during last year's fiscal second quarter, but the superstore chain has also came up short against Wall Street's profit projections in its two previous quarters.
It's going to be a showdown over calculator roll refills and mouse pads that you won't want to miss.
Longtime Motley Fool contributor Rick Munarriz does not owns shares in any of the stocks in this article. The Motley Fool owns shares of Wal-Mart and Lumber Liquidators. Motley Fool newsletter services have recommended buying shares of Home Depot, Lowe's Companies, Wal-Mart, Staples, and Lumber Liquidators.
Article Source: http://www.dailyfinance.com/2011/08/12/5-things-to-watch-next-week-home-improvement-pc-giants-retro/
1. Orange aprons on parade
There's little reason to get excited about home improvement these days. Hardwood discounter Lumber Liquidators (LL) and patio decking specialist Trex (TREX) saw their stocks get pounded last month when they hosed down their near-term outlooks.
Investors will get a clearer picture of the carnage when Lowe's (LOW) and Home Depot (HD) report on Monday and Tuesday, respectively. However, the market has already made up its mind. Both of the do-it-yourself superstore chains are trading near their 52-week lows. Analysts, on the other hand, see things differently and expect both retailers to post earnings growth of a little over 15% next week.
2. Computing's elders hold court
We're living in a time when "good enough" computing is leaving a dent in the traditional computing industry. Folks no longer need to fire up the PC or laptop when a smartphone or tablet will do the trick. It's in this climate that Dell (DELL) and Hewlett-Packard (HPQ) will check in with their quarterly results.
The two PC giants have responded in different ways:
Dell has been slow to move into handheld gadgetry, preferring simply to slash its once-bulky cost structure.
HP bought Palm and has been trying to play a bigger role on the business services side, where margins are more robust.
Both paths appear to be working as far as profitability goes, as analysts see Dell and HP posting higher earnings during the quarter.
3. Shake the mothballs off those bell bottoms
On Monday, Sirius XM Radio (SIRI) debuts a new commercial-free channel devoted to the glory days of disco.
The satellite radio provider is teaming up with some of the legends behind the iconic Studio 54 dance club to crank out groovy programming. Studio 54 Radio will feature retro club DJ mixes along with interviews and other club-related content.
Obviously the new channel won't be for everyone, but that's pretty much the point with Sirius XM. With dozens of channels at its disposal, Sirius XM can do the deep genre dives to win over a niche market at the national level. Can your local FM station do that?
4. Searching for thrifty shoppers
Wal-Mart (WMT) has a problem. Its signature greeters aren't welcoming as many shoppers as they used to. Same-store sales have surprisingly fallen for eight quarters in a row, and there's little reason to believe the streak won't be stretched to nine consecutive quarters of negative comps when Wal-Mart reports on Tuesday.
What is happening at Wal-Mart? A simple explanation would be that the economy turned against the world's largest retailer. Wal-Mart held up well during the early stages of the last recession, as thrifty consumers traded down to the discounter for their essentials. A popular argument is that many of those shoppers have been trading back up over the past two years.
There are probably other trends working against Wal-Mart. Online shopping has taken a bite out of most bricks-and-mortar chains, even those like Wal-Mart with strong e-commerce initiatives. Wal-Mart is also a victim of the digitization of media. All of that space devoted to CDs, books, movies, and video games has to be hurting now that folks are downloading media directly.
Either way, Wal-Mart won't be the only way to take the pulse of the penny pinchers. Target (TGT), Dollar Tree (DLTR), Ross Stores (ROST), and TJ Maxx parent TJX (TJX) will all be reporting their latest quarterly results next week.
5. Seeing if the Easy Button's on the fritz
Investors should care about Wednesday's earnings report out of Staples (SPLS). The darling in office supply retail is a great proxy for the state of small businesses out there. If folks are buying new ink toner cartridges and task chairs, it's a good sign that business owners are optimistic. As long as we're not talking about a run on red-ink pens, a strong Staples is a fair indicator of an improving economy.
Unfortunately, Staples hasn't been a very good performer lately. Analysts see Staples earning as much as it did during last year's fiscal second quarter, but the superstore chain has also came up short against Wall Street's profit projections in its two previous quarters.
It's going to be a showdown over calculator roll refills and mouse pads that you won't want to miss.
Longtime Motley Fool contributor Rick Munarriz does not owns shares in any of the stocks in this article. The Motley Fool owns shares of Wal-Mart and Lumber Liquidators. Motley Fool newsletter services have recommended buying shares of Home Depot, Lowe's Companies, Wal-Mart, Staples, and Lumber Liquidators.
Article Source: http://www.dailyfinance.com/2011/08/12/5-things-to-watch-next-week-home-improvement-pc-giants-retro/
Thursday, 11 August 2011
Do home improvement projects now, before winter
The to-do chores never seem to go away, which can make you want to leave the projects for another season. After all, the deck is going to be covered by snow all winter and the house can always be repainted in the spring. But taking care of these jobs now has benefits beyond just crossing them off of your to-do list.
For homeowners in areas of the country that have harsh winter weather, refinishing the deck this fall will help protect it from the winter elements like sleet, snow and ice. For those who live in milder climates, refinishing the deck now means you'll still get to enjoy the fruits of your labor into the cooler months - and get a jump on spring chores.
In addition, having your deck and your house in the best condition going into the rough winter months means that you'll minimize any damage that could be caused by harsh weather conditions. To get the maximum benefits out of your efforts, take the time to make any necessary repairs to your deck or siding before you start painting.
This could include patching any imperfections in your siding and sanding away peeling paint. On the deck, replace warped boards and nail down loose ones. A good cleaning ensures that the surface is ready for stain or paint.
Once you're ready to paint, make sure you have the right tools for the job. It will make the task quicker and easier, and provide more professional-looking results. Paint brushes and rollers have their place as useful tools, but for making quick work of painting a house or finishing a deck, nothing beats a power paint sprayer. The beauty of outdoor painting is that a paint sprayer can be used to get the job done in a few easy strokes.
The Airless Paint Sprayer by Wagner ProCoat allows homeowners to paint like the pros while on the budget of a do-it-yourselfer. It is great for the whole house, but simple enough to cover sheds, decks and fences.
The sprayer comes complete with a spray gun swivel and 25-foot hose for great mobility and long reach.
The ProCoat is crafted for the homeowner to be portable for easy movement around the job site and clean-up. The simple operation and advanced technology will provide years of trouble-free operation.
While you'll enjoy the fresh, refurbished look of your home and deck now, you'll really appreciate it in the spring when you can step outside and start enjoying your deck as soon as the weather permits. You can sit on your deck and sip your favorite beverage while you watch your neighbors tackle the outdoor tasks they put off this fall.
For more information visit www.wagnerspraytech.com. You can also find Wagner products at home improvement stores nationwide.
Article Source: http://www.lvrj.com/sponsored/do-home-improvement-projects-now-before-winter-127511043.html?ref=043
For homeowners in areas of the country that have harsh winter weather, refinishing the deck this fall will help protect it from the winter elements like sleet, snow and ice. For those who live in milder climates, refinishing the deck now means you'll still get to enjoy the fruits of your labor into the cooler months - and get a jump on spring chores.
In addition, having your deck and your house in the best condition going into the rough winter months means that you'll minimize any damage that could be caused by harsh weather conditions. To get the maximum benefits out of your efforts, take the time to make any necessary repairs to your deck or siding before you start painting.
This could include patching any imperfections in your siding and sanding away peeling paint. On the deck, replace warped boards and nail down loose ones. A good cleaning ensures that the surface is ready for stain or paint.
Once you're ready to paint, make sure you have the right tools for the job. It will make the task quicker and easier, and provide more professional-looking results. Paint brushes and rollers have their place as useful tools, but for making quick work of painting a house or finishing a deck, nothing beats a power paint sprayer. The beauty of outdoor painting is that a paint sprayer can be used to get the job done in a few easy strokes.
The Airless Paint Sprayer by Wagner ProCoat allows homeowners to paint like the pros while on the budget of a do-it-yourselfer. It is great for the whole house, but simple enough to cover sheds, decks and fences.
The sprayer comes complete with a spray gun swivel and 25-foot hose for great mobility and long reach.
The ProCoat is crafted for the homeowner to be portable for easy movement around the job site and clean-up. The simple operation and advanced technology will provide years of trouble-free operation.
While you'll enjoy the fresh, refurbished look of your home and deck now, you'll really appreciate it in the spring when you can step outside and start enjoying your deck as soon as the weather permits. You can sit on your deck and sip your favorite beverage while you watch your neighbors tackle the outdoor tasks they put off this fall.
For more information visit www.wagnerspraytech.com. You can also find Wagner products at home improvement stores nationwide.
Article Source: http://www.lvrj.com/sponsored/do-home-improvement-projects-now-before-winter-127511043.html?ref=043
Wednesday, 10 August 2011
professional tips on woodworking and home building
If You have a passion for woodworking.
For the most part you would have spent hundreds of dollars or more on woodworking projects. It will take you a lot longer than you thought or you might have quit because you got your measurements all wrong!
I understand your pain because I was once in your shoes! What if I told you that you can get the job done cheaper, faster and without headaches using my woodworking plans...
Here's the BIG problem: Most plans and woodworking magazines are complete garbage.
Why? They skip over many important parts, their diagrams are confusing, unclear, or even wrong and they often skip important parts. No wonder woodworking seemed so hard!
The truth is, I have spent a ton of time looking online and reading magazines. Most of them just left me with more questions than answers.
The Faster & Easier Way To Woodworking!
Well, luckily for you, these problems become a blessing in disguise because I have spent the last 2 years to put together a comprehensive woodworking package with a clear, detailed, step-by-step system that didn't leave anything to the imagination.
For more Information: Click Here!
For the most part you would have spent hundreds of dollars or more on woodworking projects. It will take you a lot longer than you thought or you might have quit because you got your measurements all wrong!
I understand your pain because I was once in your shoes! What if I told you that you can get the job done cheaper, faster and without headaches using my woodworking plans...
Here's the BIG problem: Most plans and woodworking magazines are complete garbage.
Why? They skip over many important parts, their diagrams are confusing, unclear, or even wrong and they often skip important parts. No wonder woodworking seemed so hard!
The truth is, I have spent a ton of time looking online and reading magazines. Most of them just left me with more questions than answers.
The Faster & Easier Way To Woodworking!
Well, luckily for you, these problems become a blessing in disguise because I have spent the last 2 years to put together a comprehensive woodworking package with a clear, detailed, step-by-step system that didn't leave anything to the imagination.
For more Information: Click Here!
Tuesday, 9 August 2011
5 Home Improvement Projects for Under $25
Today's cost conscious home owner is focused on two things: reducing costs and protecting the value of their home. Accordingly, HouseMaster, the first and one of the largest home inspection franchisors in North America, provides homeowners with simple tips on how to maintain and update their homes with fixes that they can inexpensively do on their own.
"One of the biggest mistakes homeowners make is letting small problems turn into big ones," said Kathleen Kuhn, President of HouseMaster. "Home maintenance is crucial since a home is typically the largest investment an average person makes in their lifetime. Proper home maintenance can alleviate the need for large and often costly repairs and protect the value of the home."
HouseMaster provides homeowners with the following five tips that can all be completed for under $25 and can save homeowners thousands down the road.
1. Be aware of termite or carpenter ant damage. Homeowners who diligently check their property and foundation can alleviate serious termite or carpenter ant problems. Before selling or purchasing a home look closely for any signs such as "mud tubes" or wood damage. Also, moving wood piles and debris away from the home can eliminate termite or carpenter ant problems.
2. When it rains, it pours. One of the most common places for water damage is in a bathroom. When grout breaks down water can easily get behind the tiles and cause them to come loose. An easy solution to this is to re-grout, caulk and use sealant on bathroom tile and surrounding fixtures. In other cases, where water penetration is affecting the foundation of a house, a splash box is a cost-efficient solution to direct water away from the foundation.
3. Clean the Gutters. Stained siding under a gutter indicates overflowing, which can cause structural damage. In addition, overgrown vegetation on gutters can cause clogging or potential termite issues. Trimming vegetation away from the house and cleaning gutters offers many advantages and minimizes the risk for potential costly repairs in the future.
4. Replace Rusting Roof Flashings. Flashings deteriorate over time and can allow water penetration, resulting in expensive damage to the underlying roof structure. For under $25 replace roof flashings or apply sealant to the problem area.
5. Seal your Deck. If not properly maintained decks are very susceptible to the effects of weather exposure. Once wood becomes rotted it is more likely to be infested by termites, carpenter ants, etc. Purchase deck sealant at an inexpensive price to seal your deck and prevent future damage.
Article Source: http://www.marketwire.com/press-release/5-home-improvement-projects-for-under-25-1547216.htm
"One of the biggest mistakes homeowners make is letting small problems turn into big ones," said Kathleen Kuhn, President of HouseMaster. "Home maintenance is crucial since a home is typically the largest investment an average person makes in their lifetime. Proper home maintenance can alleviate the need for large and often costly repairs and protect the value of the home."
HouseMaster provides homeowners with the following five tips that can all be completed for under $25 and can save homeowners thousands down the road.
1. Be aware of termite or carpenter ant damage. Homeowners who diligently check their property and foundation can alleviate serious termite or carpenter ant problems. Before selling or purchasing a home look closely for any signs such as "mud tubes" or wood damage. Also, moving wood piles and debris away from the home can eliminate termite or carpenter ant problems.
2. When it rains, it pours. One of the most common places for water damage is in a bathroom. When grout breaks down water can easily get behind the tiles and cause them to come loose. An easy solution to this is to re-grout, caulk and use sealant on bathroom tile and surrounding fixtures. In other cases, where water penetration is affecting the foundation of a house, a splash box is a cost-efficient solution to direct water away from the foundation.
3. Clean the Gutters. Stained siding under a gutter indicates overflowing, which can cause structural damage. In addition, overgrown vegetation on gutters can cause clogging or potential termite issues. Trimming vegetation away from the house and cleaning gutters offers many advantages and minimizes the risk for potential costly repairs in the future.
4. Replace Rusting Roof Flashings. Flashings deteriorate over time and can allow water penetration, resulting in expensive damage to the underlying roof structure. For under $25 replace roof flashings or apply sealant to the problem area.
5. Seal your Deck. If not properly maintained decks are very susceptible to the effects of weather exposure. Once wood becomes rotted it is more likely to be infested by termites, carpenter ants, etc. Purchase deck sealant at an inexpensive price to seal your deck and prevent future damage.
Article Source: http://www.marketwire.com/press-release/5-home-improvement-projects-for-under-25-1547216.htm
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