ACO Hardware diversifies merchandise
According to an article in The Detroit News, Michigan-based hardware chain ACO Hardware is launching a strategy to expand its merchandise mix to resemble a general store.
The company’s president is Dick Snyder, who spent 18 years with Wal-Mart Stores, before joining the 67-store ACO Hardware chain two years ago.
New merchandise will include food, furniture and flannel shirts, according to the article.
Consultant: 1099 repeal seems likely
Is the repeal of health care’s 1099 expansion imminent? Towers Watson consultant Regina Ihrke thinks so.
During her presentation during True Value’s Spring Market, Ihrke interpreted remarks in President Obama’s State of the Nation address as a signal that the 1099 provision buried deep in the health care legislation will be repealed within the next year.
"This was snuck in there, and it would be administratively burdensome, especially for all small employers out there," Ihrke said. "I think he tried to make that point without saying those words."
The 1099 expansion — a provision calling for all purchases of products or services amounting to $600 or more to trigger the filing of a 1099 form — has been one of the more contentious features of health care reform. Designed to generate more tax revenue, the provision has been blasted by business advocates as a paperwork nightmare for businesses.
Obituary: Sanford Sigoloff
Sanford Sigoloff, a turnaround specialist who worked for Wickes and Builders Emporium, died of complications of pneumonia in his home in Brentwood, Calif., on Feb. 19, according to an obituary in the New York Times. He was 80 years old and also suffered from Alzheimer’s disease.
Singoloff, who liked to call himself “Ming the Merciless” after a character in Flash Gordon, was brought in to re-organize Wickes Cos. in 1981 after the company filed Chapter 11. At the time, Wickes Lumber operated 269 pro-oriented yards in 34 states. Wickes Co. also included Builders Emporium, a 63-unit chain.
Wickes eventually sold off its yards in the mid-1990s.
Sigoloff will be best remembered, at least to many in the home improvement industry, for firing Bernie Marcus and Arthur Blank from Handy Dan, a regional home center chain. Soon after, in 1979, the two men established their DIY concept store called The Home Depot.