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Bel Air Lighting recalls chandeliers

BY HBSDealer Staff

Bel Air Lighting, of Valencia, Calif., has issued a recall of its Portfolio and Transglobe nine-light chandeliers due to several reports of falling fixtures.

The mounting loop that secures the chandelier to the ceiling is prone to breakage and poses a personal injury risk. 

The chandeliers were sold at Lowe’s under the Portfolio brand (item No. 256047) and as Transglobe at lighting stores across the nation (Transglobe item No. 2579 EBG). The recall affects approximately 20,500 units sold.

Consumers are advised to avoid standing directly under the chandeliers and to contact Bel Air for a free replacement mounting ring, as well as instructions on how to secure reimbursement for the cost of the installation.

Bel Air has received 18 reports of fallen chandeliers, with some reports of property damage. No injuries have been reported.

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Housing market: Some good news

BY HBSDEALER Staff

Housing metrics are having a good week, as new home sales rose and the S&P/Case-Shiller Home Price Index set a record monthly gain. 

According to the Commerce Department, new-home sales rose 2.1% in May to a seasonally adjusted annual rate of 476,000 new homes. The figure marks the highest level since July 2008.

Separately, data from the S&P/Case-Shiller Home Price Index showed that average home prices increased 11.6% and 12.1% for the 10- and 20-City Composites in the 12 months ended in April 2013. From March to April, the 10- and 20-City Composites rose 2.6% and 2.5%.

“The 10- and 20-City Composites posted their highest monthly gains in the history of S&P/Case- Shiller Home Price Indices,” said David M. Blitzer, chairman of the Index Committee at S&P Dow Jones Indices. “Thirteen cities posted monthly increases of over two percentage points, with San Francisco leading at 4.9%.

Atlanta, Las Vegas, Phoenix and San Francisco posted year-over-year index gains of more than 20% in April. San Francisco was the highest at 23.9%. Phoenix posted 12 consecutive months of double-digit growth.

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HCN Stock Watch: Things are looking up

BY HBSDEALER Staff

Tuesday’s close posted nearly unanimous gains in HCN Top 30 stocks for the first time in days.

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