August 29, 2012

Fenton Hord had a huge run at the helm of Stock Building Supply. 

In 1987 he oversaw a seven-unit, $98 million pro dealer. When Hord retired in 2007, Stock was a 350-location, $5 billion “North American Super Power.”

Of course, when the housing starts dried up, Stock remained in the headlines with a well-documented run of bankruptcy and reorganization.

August 23, 2012

Former Stock Building Supply executives Fenton Hord and Steve Short are among the industry veterans behind Cornerstone Building Alliance, LLC, a new holding company looking to invest in distributors, manufacturers and installers. 

Cornerstone’s leadership team includes president and CEO Steve Short, former Stock Building Supply COO, and Fenton Hord, longtime president and CEO of Stock and current Board Member of Investors Management Corporation (IMC), Cornerstone’s parent company.

January 16, 2012

After a series of talks, Illinois Tool Works (ITW) has agreed to give Relational Investors, the activist investment firm, an option to appoint its co-founder to ITW’s board of directors.

Based in San Diego, Relational Investors typically buys stocks in companies it wants a role in managing, including a seat on the board of directors. Proposals often include change in executive compensation salaries and a boost in shareholder values. 

December 12, 2011

Reuters news service has reported that the shareholders of Sears Holding Corp. will end up with 80% of the common stock in Orchard Supply Hardware stores, following an attempt to spin off the California hardware chain into a separate unit.

December 6, 2011

Resolute Forest Products has announced its intention to acquire all the issued and outstanding common shares of Fibrek Inc. The offer of C$1 per share in cash, or C$0.55 in cash and 0.0284 of a Resolute Forest Products common share will expire on or before Dec. 31.

According to Resolute, the offer represents a premium of approximately 39% over the closing price of Fibrek's shares on Nov. 28, and a premium of approximately 31% over the volume-weighted average trading price of the shares on the Toronto Stock Exchange or the 20 trading days ending on that date.

November 28, 2011

Gas prices retreat to a national average of $3.30 per gallon of regular. Elsewhere on the Dashboard, stocks are all over the grid of the Home Channel Stock Roundup.

November 14, 2011

The Home Channel Stock Roundup shows stocks scattered across the board, with Tractor Supply and Fastenal showing the biggest annual gains.

July 26, 2011

BlueLinx Holdings has raised approximately $58.5 million after investors fully subscribed to a $60 million rights offering that expired on July 22.  Following the issuance of the newly subscribed shares, which is expected to occur on or about July 28, 2011, BlueLinx will have approximately 61.8 million total shares outstanding. 

Cerberus ABP Investor will remain the majority stockholder, owning approximately 55% of BlueLinx' common stock.

May 2, 2011

The Home Channel Stock Roundup shows a wide range of share-price fluctuation, and the gas price chart shows a steady rise.

April 26, 2011

In an effort to raise $60 million, building products distributor BlueLinx has announced it will commence a rights offering of common stock to its stockholders. The proceeds will be used to pay down debt and fund working capital, the company said in an April 26 filing with the Securities and Exchange Commission (SEC). 

December 10, 2008

The industry’s second largest LBM chain will close its Phoenix location, a former framing contractor...

November 2, 2008

Building Materials Holding Corp. (BMHC), the San Francisco-based pro dealer, was set at press time...

October 26, 2008

Wolseley has revealed 15 of the 86 units that it will close down at Stock...

October 22, 2008

The restructuring is a result of the declining housing market and followed Wolseley’s “fundamental review”...

April 13, 2008

Alpine Lumber, the 15-unit prodealer, has purchased five yards from AC Houston in Las Vegas,...

April 4, 2008

Home Depot will settle the suits for $14.5 million in attorneys fees and reimbursements of expenses....

March 3, 2008

The pro dealer will open a branch catering to the commercial market in Yorktown, Va....

February 11, 2008

The plan is to sell 3.8 million shares of Pulte stock with the chance to...

February 10, 2008

In Wolseley North America’s bid for growth, the company’s showroom strategy looms large. It’s here...

November 12, 2007

KBC Construction and Architectural Building Supply are two of the new businesses picked up by...