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Blaze King Receives EPA's Two Top Listings
WALLA WALLA, WASHINGTON
Blaze King Industries has been listed by the U.S. Environmental Protection Agency (EPA) as having the most efficient wood stoves it has tested. The company is located in Walla Walla, Washington, and manufactures the Blaze King line of heating products.
As listed by the EPA:
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King 1107.
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Princess 1006.
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Blaze King's King 1107 is listed #1 while the Princess 1006 was rated #2. Blaze King manufactures five of the top eight most efficient wood stoves listed.
Visit the EPA website for confirmation.
For the Consumer
Homeowners can reduce wood consumption over 50 percent when compared to older stoves and up to one-third when compared to most stoves sold today. This dramatically lowers heating costs.
For the Environment
Blaze King wood stoves are up to 80 times cleaner burning when compared to older stoves. Our combustion technology yields are 50 to 70 percent cleaner than other wood stoves sold today.
Municipalities
This is great news for municipalities that are trying to create a cleaner environment. The technology is now available to make it happen.
Job Creation
Our forests are a huge source of local renewable and clean energy. By burning wood in an ultra-efficient stove, we support our local forest industry and local jobs. We do this while reducing our dependence on fossil fuels, imported or domestic, and provide sustainable jobs for the future.
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Restoration Hardware
Sets Price Range for I.P.O.
NEW YORK, NEW YORK
By The New York Times
 Restoration Hardware said in a filing on Tuesday that it planned to sell 5.2 million shares at $22 to $24 a share in an initial public offering.
At the midpoint of that price range, the company would have a market value of more than $850 million. Restoration Hardware is being classified as an "emerging growth company" under the Jumpstart Our Business Start-Ups Act, or the JOBS Act, which was enacted this year to ease the regulatory burden for companies that want to go public.
An I.P.O. has been long awaited for the specialty home furnishings retailer, which was taken private in 2008 by the private equity firms Catterton Partners and Tower Three Partners and its top executive at the time, Gary Friedman, for about $175 million. Article Tools
Mr. Friedman recently stepped down as co-chief executive and chairman after an internal inquiry into a personal relationship with a 26-year-old female employee. Mr. Friedman, who still owns 17.6 percent of the company, is an adviser to the company and board, with the title of creator and curator, as well as chairman emeritus of the board.
The amended S-1 filing gives details on a five-year advisory services agreement between the company and Mr. Friedman, whose termination date was Oct. 20. The agreement calls for an annual fee of $1.1 million. Mr. Friedman can also earn a minimum annual bonus of $500,000 if certain performance goals are met.
Bank of America-Merrill Lynch and Goldman Sachs are leading the underwriting of the offering. Restoration Hardware's shares are set to trade on the New York Stock Exchange under the ticker symbol RH.
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Jensen Leisure Announces
Winner of Best to Budget Performance
RIVERSIDE, CALIFORNIA
Jensen Leisure Furniture announces Garry Hartness as winner of the 2012 Best to Budget sales performance. He has sold Jensen outdoor furniture for 13 years, covering the states of Texas, Oklahoma, Arkansas and metro Memphis, Tennessee. "This is the second year in a row Garry has won, so needless to say we need to increase his budget big time," said vice president Sales and Marketing Janet Wansor. "Seriously, his dedication to our company is so admirable."
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Retailers Take Note: Credit Card Scam
SOMEWHERE, USA
A recent call from a specialty retailer (who wishes to remain anonymous) made us aware, once again, that there's a profusion of crooks in this world. No, this time we're not talking about a politician; we're talking about a salesperson.
While looking at a credit card statement, the owner of the store noticed a charge of $960 for a returned item. The store received few returns, so that raised a red light. He went back through the months and saw that same credit card number over and over again.
Over a three-year period, that same customer supposedly had returned $80,000 in merchandise to the store.
Well, turns out it wasn't a customer at all, but a very trusted salesperson who had been with the company for quite a while. Roughly three times a month he would swipe his credit card and credit it back for $900 or so each time. He used the same card for eight months, then switched to a new card, then another one.
Those transactions always occurred on high-volume days when it wouldn't be quite as obvious. They always occurred at the end of the day. The employee would make up a dummy invoice in the computer system as if someone was returning a defective product. The tax was there as well. There never was a name attached to it.
At night, everything had to match up, and it did.
The owner had an office manager and an accountant. He did not employ a bookkeeper and was, as every small business owner knows, too busy to pay much attention to credit card statements.
However, the owner has decided to prosecute, mainly to protect other small businesses from this fellow because there is little chance of recouping the $80,000. At a previous job that salesperson had been charged with embezzlement.
Enough said. Be careful.
- Richard Wright
Editor
Hearth & Home
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