November 11,
2012 by in UnCategorized 
By Aggregated Content in on November 12, 2012
from https://newsdesk4.moreover.com/click/?p=Qy83NTc4MzUxNDY4Jm49TkFQQ08&a=MTIzMjc4Mzc2ODQ&f=TmV3cw&s=cmljaHhtbA&u=YWNyZW5zaGF3QG5hcGNvLmNvbQ&c=TkFQQ08&i=MA&e=TmV3cy1SZWNvcmQuY29t&d=1989&t=1
HIGH POINT This historic building has housed a freight train depot, a dinner theater and furniture showrooms over its decades of existence.
Now, the former Centennial Station Dinner Theatre will play a new role in High Points arts scene.
The...
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November 11,
2012 by in UnCategorized
By Aggregated Content in Business Strategy on November 12, 2012
from http://www.news-record.com/content/2012/11/11/article/centennial_station_new_home_for_high_point_s_arts#nrcAnc_Middle2_Jump
This historic Centennial Station building in High Point has housed a freight train depot, a dinner theater and furniture showrooms over its decades of existence. Now, it's being converted to another use.
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November 11,
2012 by in UnCategorized
By Aggregated Content in Acquisition on November 12, 2012
from http://www.internetretailer.com/2012/11/12/what-warren-buffett-sees-oriental-trading
Now that Oriental Trading Co. is coming under new ownership by Berkshire Hathaway Inc., the diversified retail, manufacturing, transportation, publishing and financial services conglomerate owned by billionaire Warren Buffett, the direct marketer of party supplies and related merchandise will have a lot more flexibility to grow its e-commerce business, CEO Sam Taylor tells
Internet Retailer.
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November 11,
2012 by in UnCategorized
By Home Furnishings Business in Acquisition on November 12, 2012
Canadian retailer Leon's Furniture (TSX: LNF) has agreed to acquire fellow Canadian furniture retailer The Brick (TSX: BRK) in a $700 million deal.
The acquisition will combine Canada's two largest home furnishings retailers. Terry Leon, CEO of Leon's, said during recent tough economic times, Canada has seen "multiple American corporations make inroads in our country through acquisitions. It is a pleasure to see two successful Canadian retailers reach such an agreement that will better serve Canadian customers."
According to a release, the company plans to run the chains as separate companies out of offices in Toronto and Edmonton. Terry Leon will remain in his position as CEO and will also be CEO of the joint entity. Vi Konkle, president and CEO of The Brick, will continue as president of The Brick. Bill Gregson, executive chairman of the board of The Brick, will remain in an advisory position. It is expected that he will join the Leon's board. Mark Leon will continue as chairman of the board of Leon's.
"This transaction brings together two great Canadian companies with complementary geographic footprints to strengthen our position in the home furnishings marketplace," said Terry Leon. "We will apply the best practices of both companies to offer even greater value to our customers and create more opportunity for our associates. Our combined team will have access to national buying opportunities in merchandising and marketing, and a national distribution network that will enable us to greatly enhance our online shopping capabilities. We are very excited to build on the relationships we have established over the years with our respective associates, franchises, customers, shareholders, suppliers and the many communities we serve."
Konkle said The Brick welcomes the partnership.
"By joining forces, we can strengthen both of our businesses, enhancing everything that has made Leon's and The Brick two of Canada's best-known retailers and preserving The Brick's roots in Edmonton."
Under the agreement, Leon's will acquire all outstanding common shares and common share purchase warrants of The Brick. The transaction is expected to close in the first quarter of 2013, subjects to court approval, regulatory approvals and the absence of any material change with respect to The Brick.
Leon's intends to finance the cash portion of the consideration from existing cash resources and $500 million in committed bank facilities underwritten by CIBC and Desjardins Capital Markets. These committed bank facilities are comprised of a $400 million four-year term credit facility, and a new $100 million revolving credit facility which, if required, will be used to finance the transaction and otherwise will be available for general corporate purposes.
Leon's was founded in 1909 and has 76 stores. The Brick, which opened its first store in 1971, operates 230 stores under The Brick, United Furniture Warehouse, The Brick Mattress Store and Urban Brick banners.
The complete release can be found online.
November 11,
2012 by in UnCategorized
By Home Furnishings Business in Community/Charitable Support on November 12, 2012
Home furnishings retailer Crate & Barrel has pledged a minimum of $1.5 million over the next three years to Rebuilding Together, a nonprofit with the mission to rebuild homes and lives of America's homeowners in need.
Through the partnership, Crate & Barrel and Rebuilding Together will join forces to support-both financially and through volunteers-national build projects to provide repairs, accessibility modifications and energy-efficient upgrades for low-income homeowners and community centers at no cost to recipients.
To launch the partnership, the retailer has committed $250,000 to fund long-term rebuilding projects in the regions affected by Hurricane Sandy. In addition, to further its commitment to Rebuilding Together, and commemorate the brand's 50th Anniversary, Crate and Barrel will contribute $5 from every online and in-store purchase, up to $250,000, on Dec. 7.
"Giving back to the communities we serve has always been an important part of the Crate & Barrel company culture," said Sascha Bopp, Crate & Barrel CEO. "We share a vision and understanding of the word 'home' with Rebuilding Together, making this partnership a natural fit for both organizations."
Gary Officer, president and CEO of Rebuilding Together, said the organization is happy to partner with Crate & Barrel.
"Crate and Barrel has a deep corporate culture of giving back that is shared by their thousands of associates nationwide," Officer said. "Crate and Barrel's commitment to a long-term strategic partnership is exactly what is needed to make a clear, significant impact for low-income homeowners and in the communities that Rebuilding Together serves."
As part of the partnership, Crate & Barrel's leadership team and more than 120 associates from its corporate headquarters gathered for the company's first Rebuilding Together "build" at Port Ministries on Chicago's southwest side in October. The Port Ministries received necessary updates, including new paint, flooring, windows, plumbing and electrical repairs, furniture and landscaping.