Construction Industry Earnings News
Wednesday, January 31, 2007
A news story from the Baltimore Sun: "Black & Decker Corp. reported yesterday that the housing slump continued to cut into sales and earnings and said more restructuring could be on the way."
"Nolan D. Archibald, Black and Decker's CEO, told analysts during a conference call that the housing slowdown resulted in fewer orders from key retailers, which forced the company to scale back production to keep inventories in check."
"'As we had announced in December, we faced a very difficult market environment in the quarter, resulting in a significant decrease in sales and earnings,' he said."
And news on 3M from MarketWatch: "3M Co. said Tuesday that downturns in the housing and automotive markets chilled fourth-quarter earnings growth, and shares of the blue-chip conglomerate lost more than 5% as its outlook disappointed investors."
"'The dramatic slowdown in the U.S. housing and automotive markets had a significant negative impact on sales and gross margins in a handful of our divisions,' CFO Patrick Campbell said."
"Nolan D. Archibald, Black and Decker's CEO, told analysts during a conference call that the housing slowdown resulted in fewer orders from key retailers, which forced the company to scale back production to keep inventories in check."
"'As we had announced in December, we faced a very difficult market environment in the quarter, resulting in a significant decrease in sales and earnings,' he said."
And news on 3M from MarketWatch: "3M Co. said Tuesday that downturns in the housing and automotive markets chilled fourth-quarter earnings growth, and shares of the blue-chip conglomerate lost more than 5% as its outlook disappointed investors."
"'The dramatic slowdown in the U.S. housing and automotive markets had a significant negative impact on sales and gross margins in a handful of our divisions,' CFO Patrick Campbell said."
Labels: Construction Industry, Construction News
Construction Industry Job News
Tuesday, January 30, 2007
Construction Job News from the Daily Press: "It's no secret that construction has slowed on new homes in the Victor Valley and workers are feeling the pinch. 'Since the beginning of the year, our lobby’s been full,' said Robert Lovingood, president of (a) local staffing firm. 'We have a steady stream of people looking for work…especially those in the construction trades.'""Few semi-skilled workers, especially those who have been working on mass-produced tract homes, are equipped to transfer over to commercial work. 'They're programmed to do one thing in every house,' said Chris Cox of Cox Plumbing. 'They're set up to do one particular phase of plumbing, and that's all they know. It's electricians, it's framers, it's everything. They only get the opportunity to do just ceiling fans, just switches and plugs.'"
"For workers who know houses, life is bound to be tough at least until summer, possibly another year, said economist John Husing. 'You have to work off the inventory of new homes that was just completed,' he said. 'A lot of builders kept right on building up until December because they didn't want vacant lots on their books.'"
"Some construction workers are transferring over to warehousing work, said Gloria Stanton, manager of the Victorville office of Select Personnel Services. 'I'm hearing, I'll do anything,' she said, not only from construction workers but from educated professionals such as paralegals and accountants."
"Cox said out of 10 housing contractors he used to work for, he is only working for two at the moment. 'It's a cycle. It's like anything else,' he said. 'You ride the wave until it dies and wait for it to pick back up.'"
Labels: construction jobs, Construction News
The Best Form of Advertising for your Small Business?
Monday, January 29, 2007
When you want to get the word out about your company, you know you are going to have to advertise. It is what every business has to do - spend money for ads in the yellow pages, on the radio, in the newspaper, and online. It's a necessary evil.What you might not know is the best form of advertising is not something you can pay for. According to the company BIGresearch, most Americans are being influenced by word of mouth. Our new digital information age has made it easier for consumers to talk to more than just their friends and family. They can post reviews and opinions on websites, blogs, forums, and through emails, texting, online video, and more.
For your remodeling or repair business, this means your customers are able to not only talk about your company - it means that other consumers are listening. "91% of consumers regularly or occasionally seek advice about products and services before making a decision," according to eMarketer.com. You need to make sure that you're performing quality work, with quality products, and that your company continues to focus on customer service and taking care of your clients' needs.
Word of mouth is powerful and it can easily be passed to many with today's technology. It's worth more and works better than all the money you're spending on your ads, on your yard signs, or on your radio or newspaper listing. And there is not much you can do to control WOM. Be the best in your industry and you just might find more work than you know what to do with.Don't forget to bookmark this page as we'll continue to offer advice for contractors and other service professionals. Simply right-click on this link - Construction Deal Contractor Update - and click on "Bookmark this page" or "Add to Favorites", depending on your browser. Our goal is to help your company find job leads and expand your business!
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