Archive for August, 2009
August 9th, 2009 at 07:00am
Under Furniture News
Ethan Allen recently announced that it will be transforming it’s domestic wood manufacturing operations over to a custom business that will only focus on individual pieces rather than large quantities. The company announced that the transformation will occur within the next year.
Farooq Kathwari, chairman, president and CEO said that the capabilities of creating custom pieces is one of the companies strongest assets and a point that differentiates them from other companies. The transformation will begin with four of the popular dining room collections.
Ehtan Allen has six plants located in the United States and one sawmill, the company has one plant that is in Mexico. It has said that about 65 percent of it’s products are manufactured in the U.S.
By MCC
August 8th, 2009 at 05:59pm
Under Furniture News
Two congressmen from Georgia have filed a bill that would offer several income tax credits and deductions to both consumers and retailors that purchase building products and home furnishings. If passed the bill co-sponsored by Democrat Hank Johnson and Republican Nathan Deal could help boost the failing furniture industry.
Hank Johnson said, “Not only would this bill help stimulate the manufacturing market for home furnishings and building products, it would save and create retail jobs, generate billions in revenue and increase home values at a time when we really need a boost.”
The bill may have a $67 million economic value and would provide tax deductions of as much as $2,000 for families that have incomes of $300,000 or less and buy home furnishings and building products that qualify through December 31, 2011. Consumers would be allowed to claim the deduction even if they don’t itemize any other tax deductions.
For families that have lower yearly incomes, the bill would allow a tax credit of as much as $500. In addition to consumer credits, contractors and retailors that purchase qualifying products for resale would be eligible for a tax credit of 10 percent on the wholesale price. The bill would cap the credits at $10,000 per year.
By MCC
August 7th, 2009 at 11:53pm
Under Furniture News
Meadowcraft Incorporated of Birmingham, Alabama has filed for bankruptcy back in March. The company is the parent of the Plantations Patterns plants that makes cushions and umbrellas for patio furniture. The plant employees around 700 people in the area.
A Delaware bankruptcy court approved the sale of the plant to Home Casual of Wisconsin at the end of last month. And, a union spokesman said that the company does plan to resume operations at the plant in the near future.
There hasn’t been any announcements made on the fate of the Plantation Patterns plant in Wadley. The plant there makes wrought iron furniture and has employees over 500 fo the towns 650 residents.
By MCC
Next Posts