Weekly News Briefs - Changes Brewing In High Point

Furniture World News

The Greensboro News-Record (www.newsrecord.com) reported that, "The board of the High Point International Home Furnishings Market Authority picked a new leader late Wednesday but said that person’s name and salary won’t be released until March 24." The article noted that since the resignation of former High Point mayor Judy Mendenhall, the High Point Market Authority has spent $60,000 to recruit a new leader of the Authority who is expected to attend the April High Point show. In addition, the organization that is responsible for marketing and fostering change at the show, announced two additions to its Board of Directors, Art Defehr, president of Palliser, and Craig Koenig, CEO of City Furniture, The Florida-based furniture retailer. ______________________ According to the Winston-Salem Journal (www.journalnow.com), The International Home Furnishings Market Authority has asked Triad area communities (Winston Salem, Greensboro, Archdale, etc.) to allocate a total of $1 million for each of five years to finance a $20 million marketing campaign to promote the twice a year High Point show and to, "fend off challenges from Las Vegas and other trade shows." ______________________ In its online edition on March 9, 2006, The Greensboro News-Record (www.newsrecord.com) outlined, "A plan to double the spending for the International Home Furnishings Market would rely on increased funding from state and local governments, including Greensboro, and more than double a tax that furniture showrooms now pay." Sue Shultz, staff writer noted that, $4 million in additional spending will be spent on "promotions and marketing, guest services such as more entertainment and free food, transportation services, and more downtown parking." ______________________ The website http://www.news.ft.com/china reported on March 7 that Germany and the UK are pushing for anti-dumping legislation against China to be enacted by the European Union. The article noted that, "The European Furniture Industry Confederation is expected to file its formal anti-dumping complaint in the coming two months. The complaint would cover a broad range of sofas, kitchen and office chairs made in China." ______________________ The News & Observer (www.newsobserver.com), Raleigh, NC reported that a new 8,695 sq. ft. This End Up store will open at Raleigh's Crabtree Valley Mall. The article noted that Sanford, NC based company that filed for bankruptcy in 2000 is now starting to expand operations. ______________________ The Detroit News (www.detnews.com) recently ran an article noting that Art Van Furniture has started to sell Palliser's EQ3 line and will make the line available later this year at their www.artvan.com site. ______________________ More people are buying furniture and other items on e-bay these days. The Record of Hackinsack, NJ, (www.azstarnet.com/dailystar/accent/119479.php) published a news story that tells of a website dedicated to stopping fraud on the online giant's site. The site ebayersthatsuck.com, is published by Steve Klink who also has also published two books on the subject of online auction fraud. ______________________ For all you accounting fans out there The Journal of Accounting (http://accountingeducation.com) has published a two part, case study series on the rise and fall of Heilig-Meyers. ______________________ The Detroit News HomeStyle section (http://detnews.com) ran an article about the opening of a new store that offers "Warehouse shopping for upscale furniture." Newport Furnishings, the article noted, "has 15 other locations nationwide, offers savings of up to 50 percent on styles similar to those found at Crate & Barrel, Storehouse and Williams-Sonoma Home." ______________________