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Demand for New Homes Is Outpacing Supply
WASHINGTON, D.C.
By Frank Anton, Vice Chairman of Hanley Wood
In many markets builders are playing catch up. They can't build fast enough. As a result, of the 45,000 new homes sold in May, 16,000, or 36 percent, weren't yet under construction. The share of sold-but-not-yet-built houses is up from 26 percent a year ago and way, way up from the low of 14 percent in the recession-riddled market of September 2008.
(By the way, the annual pace of new home sales in May was the fastest since 2008 as well!)
There's good reason to think that the pace of sales and construction will get even better because consumer confidence is rebounding sharply. So much so that the percentage of potential home buyers who think it's a good time to sell a house is at an eight-year high, while the percentage who think it's a bad time to buy a house is at a 10-year low.
Finally there's this: Even if, as expected, (housing) starts this year reach almost one million units, that's well below what most housing economists see as demand for 1.2 to 1.5 million new homes a year. So it looks like builders will be playing catch up for some time to come.
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Wright Currie Promoted at Summer Classics
BIRMINGHAM, ALABAMA
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Wright Currie.
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Wright Currie has been promoted to Director of Design and Advertising at Summer Classics. He will be responsible for all Summer Classics, Summer Classics Contract and Parker international design, advertising and graphics including catalogs and websites. He joined Summer Classics in 2008 as an Industrial designer for Summer Classics outdoor furniture, and formerly held the position of director of Asian Operations, responsible for product development, quality control and production. "Wright has an exceptional methodology and attitude. We look forward to having him fill this role," said Bew White, III, CEO of Summer Classics. "I'm excited about this opportunity and believe I can make a great impact in some new areas," said Currie. |
Summer Classics Acquires Outstanding Shares of Summer Classics Contract
BIRMINGHAM, ALABAMA
Summer Classics, one of the leading manufacturers of high quality casual and outdoor furniture in the United States, announced today the purchase and acquisition of the outstanding shares of Summer Classics Contract (SCC) from TBC Investments, LLC. Summer Classics previously owned approximately the remaining 40 percent of SCC, and will operate SCC as a subsidiary of Summer Classics. The transaction closed in May of 2013. Terms of the transaction are private. "We will miss the perspective and expertise TBC brought to the table, but are excited about bringing SCC back into the fold," said Bew White, III, CEO of Summer Classics. Leslie Temples, Sr., vice president Sales and Marketing and Deana Ray, director of Operations and Inside Sales for SCC, will continue to oversee the daily operations of SCC. A subsidiary of Summer Classics, Inc., Summer Classics Contract markets a tailored line of contract outdoor furniture to the U.S. hospitality, designer, senior and assisted living markets. What Outdoor Furniture Should Be.™ |
Oriental Weavers Names
New Director of Marketing
DALTON, GEORGIA
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Nicki Rayburn.
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Oriental Weavers (OW) has named Nicki Rayburn as its new director of marketing. She will be responsible for creating a new marketing direction and developing global initiatives to elevate the company's area rug and hospitality brands. Rayburn brings over 13 years of marketing experience to OW, most recently with Mohawk where she served as director of public relations for the Mohawk, Karastan and Durkan brands. While at Mohawk, Rayburn was responsible for strategic direction and implementation of public relations, trade advertising, point-of-sale efforts and other marketing functions. Prior to her time at Mohawk, she served as brand manager of PetSafe in Knoxville, Tennessee, and began her career in an Atlanta-based advertising agency. "We are truly excited to have Nicki on board as part of our team and look forward to our customers and clients benefitting from her talents and fresh approach to our company's marketing efforts," said Mike Riley, president of Oriental Weavers. Rayburn will be based out of the Dalton, Georgia corporate headquarters.
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Oriental Weavers, Pantone
Launch Rug Collections
DALTON, GEORGIA
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Prismatic 52768.
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Oriental Weavers (OW) announced that four never-before-seen rug collections for PANTONE UNIVERSE will be launched at the Atlanta rug market this week. The company was exclusively selected by Pantone, the global authority on all things color and leading provider of professional color standards for the design community, for a multi-year venture to deliver fashion-forward rug designs to the home fashion industry. "Pantone was a natural partner for Oriental Weavers for many reasons. Both companies are known for leading their respective industries in cutting- edge color and design," said Jonathan Witt, vice-president of OW. "We could not be more excited about our first round of PANTONE UNIVERSE introductions. Our customers rely on Pantone's color tools and fashion forecasts on a daily basis, and we are excited to now be a part of that process."  | |
Prismatic 75289.
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The two powerhouses are initially launching four rug collections ranging from bold, handcrafted flatweaves to brilliant shags to a collection inspired by mid-century expressionists' art showcased in an array of tonal, painterly pieces and high-contrast contemporaries. Additionally, one of the new collections has deep ties to Pantone's history. Pantone was founded in 1963 as an innovative color tool for the printing industry. Fifty years later, PANTONE UNIVERSE and Oriental Weavers have come together to introduce the Prismatic collection comprised of printed, hand-carved area rugs. The Prismatic collection will retail for $199 in the 5x8 size. "Partnering with Oriental Weavers lets us further extend Pantone's color expertise and design sense to the consumer," said Ron Potesky, senior vice president and general manager of Pantone. "Color has the ability to transform a room and a mood, and now consumers can confidently add on-trend color and easily coordinate home décor with PANTONE UNIVERSE products." Join Oriental Weavers in celebrating its partnership with PANTONE UNIVERSE and preview the four new color inspired rug collections at the company's showroom party at the Atlanta Rug Market on Thursday, July 11, 2013 from 4:00-7:00 pm in Showroom 3.A.2 |
Viking Range Announces
Two-Year Warranty on Outdoor Products
GREENWOOD, MISSISSIPPI
Viking Range has announced its new Two-Year Viking Professional Outdoor Warranty. Current-model Viking Professional Outdoor appliances and cabinets purchased on or after July 1, 2013, will come with a full two-year warranty as opposed to the previous one-year warranty. Hand-built in Greenwood, Mississippi, using high-grade steel and quality components, Viking Professional Outdoor appliances and cabinets provide everything needed for an outdoor kitchen, minus the walls. "As a result of our ongoing commitment to quality, we are introducing the Two-Year Viking Professional Outdoor Warranty to show our customers and the appliance industry the confidence that Viking Range has in its products," said Brian Waldrop, Viking executive vice-president and CFO. "We are continuously incorporating enhancements and improvements into Viking products. This full two-year warranty on our outdoor product line provides consumers peace of mind, knowing that Viking stands behind the products that are designed and made in Greenwood, Mississippi." Viking was built on a foundation of innovation, creativity and a commitment to quality, and now offers an extensive outdoor product line featuring superior product performance and backed by one of the strongest warranties in the industry. "Viking Range created the ultra-premium appliance category," said Waldrop. "We are committed to quality and performance, and we know that Viking dealers and customers will be enthusiastic about this enhanced warranty on our outdoor products." |
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