Daily News Archive
Brought to you by Home Furnishings Business
May 3,
2011 by in UnCategorized 
By Aggregated Content in Financial Reports on May 4, 2011
from http://c.moreover.com/click/here.pl?z4586939395&z=1250249030
Furniture Brands said Wednesday it lost $3.1 million in the first quarter, compared with a profit of $3.5 million in the prior-year quarter.
The company reported sales of $297.9 million for the quarter ended March 31, down 8 percent from $322.4 million a year earlier. Last month, the company's Thomasville business opened a company-owned and operated store in Dallas, plans to open one in Chicago in May and is seeking a site for another Chicago location.
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May 3,
2011 by in UnCategorized
By Aggregated Content in Community/Charitable Support on May 4, 2011
from http://c.moreover.com/click/here.pl?z4585794178&z=1250249032
As a MC-12 sensor operator, Jason Randazzo is required to fly over designated areas in Afghanistan and report all threats to ground forces.
While airborne, the soldier is able to stay in constant contact with his comrades regarding the surveillance of the region. However, once the flight ends, the flow of communication is hindered as there is no area, near their base in Kandahar, that allows the Squadron members to meet as a group, according to Randazzo.
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May 3,
2011 by in UnCategorized
By Aggregated Content in Furniture Retailing on May 4, 2011
from http://c.moreover.com/click/here.pl?z4585785377&z=1250249032
Spokane County Sheriff's Major Crimes detectives have made an arrest in the murder of a Spokane Valley furniture store owner. The sheriff's office announced the arrest of 58-year-old Patrick K. Gibson at 6:40 a.m. Wednesday.
On November 7, 1992, Brian Cole and his wife were working late in their furniture business, Cole's Traditions in Oak, on East Sprague. A man entered the store and demanded their money. Authorities say Brian Cole asked if he was kidding, and the couple explained how most customers paid with credit cards and they did not have any cash.
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May 3,
2011 by in UnCategorized
By Home Furnishings Business in Bankruptcy on May 4, 2011
Upholstery manufacturer Berkline has filed for Chapter 11 bankrupcty protection so it can liquidate assets.
erkline, a unit of turnaround specialist Sun Capital Partners Inc., ceased operations on the eve of April High Point Market, a unit of filed so the couch maker that specializes in home theaters can liquidate.
After cutting cost, Berkline and its related companies "have not been able to generate sufficient cash flows to meet their continuing obligations," Keith Cooper, the company's chief restructuring officer, said in court papers.
The company blamed its financial troubles on the housing crisis, which caused a drop in sales.
Berkline has a $140 million, second-lien loan that is mostly owed to its parent, SCSF Furniture LLC and other related companies, according to court records.
Click here for a list of unsecured creditors.
May 3,
2011 by in UnCategorized
By Home Furnishings Business in Executive Changes on May 4, 2011
Mark Price has joined Powell Furniture as vice president of sales for the Midwest region.
He will report to CEO Jim Ziozis. Gary Glick, Culver City, Calif.-based Powell's senior vice president of sales for the West and Clay Ackard, vice president of sales for the East, will team with Price to handle sales management for the company. Price's previous experience includes working with Primo International, Rosalco and Amisco.
"The addition of industry veteran Mark Price allows us to logically divide our North American sales force into three regions; East, Midwest and West," Ziozis said. "Having a top notch dedicated sales force as well as having an experienced management team in place to support our retail partners with quick response and follow up makes it easy to do business with Powell."
New launches in casual dining and seating have generated increases in the number of retailers buying the line; and a dedication personal and timely response made it necessary to add personnel.
"I have known Jim Ziozis for years, and the fact that he was the one to take ownership of the brand solidifies my decision," said Mark Price. "I'm ready to help write the next chapter in Powell's history."