Job growth remained solid in September as the Federal Reserve fights against inflation. In fact, the recent jobs data have been stronger than most economists expected and is a reminder that GDP growth for the third quarter will be very strong and inflation risks will persist. Despite restrictive monetary policy, nearly 5.9 million jobs have […]
Freddie Mac: Mortgage Rates Continue to Climb
Freddie Mac today released the results of its Primary Mortgage Market Survey® (PMMS®), showing the 30-year fixed-rate mortgage (FRM) averaged 7.57 percent. “For the fifth consecutive week, mortgage rates rose as ongoing market and geopolitical uncertainty continues to increase,” said Sam Khater, Freddie Mac’s Chief Economist. “The good news is that the economy and incomes continue to grow […]
Live Ventures Submits Proposal to Acquire LL Flooring for $5.85 Per Share in Cash
All-Cash Offer Represents 106% Premium to Company’s Closing Price as of October 6, 2023 and Provides Shareholders with Certainty, Full and Fair Value and Immediate Liquidity Live Ventures’ Experience in the Retail and Flooring Industries and Successful Track Record of Shareholder Value Creation Make it the Ideal Partner for LL Flooring Live Ventures Incorporated (“Live […]
Georgia-Pacific Completes $175 Million Investment at Darlington, South Carolina, Dixie Facility
Georgia-Pacific completed a $175 million investment into its Dixie tableware facility in Darlington, South Carolina, and held a ribbon-cutting ceremony and community celebration. The improvements will expand its plate and bowl production operations to meet customer and consumer demand for these popular disposable household products. The Darlington facility now has additional printing capability, state-of-the-art plate […]
CMC Reports Fourth Quarter and Full Year Fiscal 2023 Results
Commercial Metals Company (“CMC”) announced financial results for its fiscal fourth quarter ended August 31, 2023. Net earnings were $184.2 million, or $1.56 per diluted share, on net sales of $2.2 billion, compared to prior year period net earnings of $288.6 million, or $2.40 per diluted share, on net sales of $2.4 billion. For the full year fiscal 2023, CMC reported net earnings […]
Statistics Canada: Building Permits August 2023
The total monthly value of building permits in Canada increased 3.4% in August to $11.9 billion, with strong gains in the non-residential sector offsetting modest declines in residential construction intentions. On a constant dollar basis (2012=100), the total value of building permits was up 4.3% to $6.9 billion in August. Residential permit values down despite fourth consecutive increase in […]
Fastenal Names New Executive VP of Operations
Fastenal Company (“the Company”) has appointed Anthony P. Broersma as the Executive Vice President-Operations effective on October 11, 2023. In his new role, he will oversee supply chain, compliance, supplier development, content, property management, eCommerce, supply to fulfillment distribution, and logistics operations of the Company. Mr. Broersma previously served as our Senior Vice President-Operations of […]
ABC: Monthly Construction Input Prices Increase Slightly in September, Led by Higher Energy Prices
Construction input prices increased 0.2% in September compared to the previous month, according to an Associated Builders and Contractors analysis of U.S. Bureau of Labor Statistics Producer Price Index data released today. Nonresidential construction input prices increased 0.2% for the month as well. Overall construction input prices are 0.3% higher than a year ago, while […]
The AZEK® Company Announces Definitive Agreement to Sell Commercial Segment’s Vycom Business to Plaskolite
The AZEK Company Inc. (“AZEK” or the “Company”), the industry-leading manufacturer of beautiful, low-maintenance and environmentally sustainable outdoor living products, including TimberTech® decking and railing, Versatex® and AZEK® Trim, and StruXure™ pergolas, has entered into a definitive agreement to sell its Vycom business, a division of its Commercial segment, to Ohio-based Plaskolite, LLC, a global leader in the manufacturing […]
ABC Supply Co., Inc. Announces Q2 2023 Manager Promotions
ABC Supply Co., Inc., the largest wholesale distributor of roofing and other select exterior and interior building products in North America, has announced that 15 leaders have been promoted to branch manager positions at locations throughout the company in the second quarter of 2023. Ben Willard was named branch manager of the Springdale, Arkansas, location. He started his career at […]