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Burns Industrial Equipment expands in northeastern Ohio

BY Ken Clark

Pittsburgh-based Yale Industrial Trucks acquired MH Equipment’s Twinsburg, Ohio, business.

Yale Industrial Trucks operates as Burns Industrial Equipment, which is now the authorized Hyster lift truck dealer for select counties in the Cleveland area.

“We are delighted to expand our lift truck footprint to represent the Hyster brand in northeastern Ohio,” said Chris Burns, owner and dealer principal of Burns Industrial Equipment. “Burns Industrial Equipment’s dedicated work force and customer service culture will be incorporated into the Twinsburg acquisition.”

The newly acquired Ohio counties include Ashland, Carroll, Cuyahoga, Geauga, Holmes, Lake, Lorain, Medina Portage, Stark, Summit, Tuscarawas and Wayne.

“Becoming an authorized Hyster dealer allows us the opportunity to bring our unique customer satisfaction approach to the Cleveland market as we have done in Pittsburgh for 40 years,” Burns added.

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Sales rise at Valspar

BY HBSDEALER Staff

Paint manufacturer Valspar reported $1.07 billion in sales for its third quarter, a 22.5%   increase from sales in the same quarter of 2010. Net income for the quarter, which ended July 29, 2011, was $67.4 million, compared to $75.1 million a year ago.

"We were pleased with our improved sales and earnings performance for the quarter," said Gary Hendrickson, Valspar president and CEO. "Double-digit top-line growth resulting from acquisitions, pricing and market share gains helped to mitigate the impact of higher raw material costs and a challenging demand environment. We made progress in restoring our operating margin by continuing to raise our selling prices and improving our productivity. Our ongoing investments in our brands and technology delivered new business in the quarter and position us well for the future.”

 

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Readers Respond: Foreclosure solution? Hardly

BY HBSDEALER Staff

An article in yesterday’s Home Channel News Monday described an idea from the U.S. Department of Housing and Urban Development to turn government-owned foreclosures into rentals. The idea received a chilly reception from readers.

“In a word, Geithner’s idea is ‘stupid’.

“The economy needs:
1. Reduced taxes
2. Stability in the tax rates
3. Reduced regulation and the size of the federal government
4. Repeal of Obamacare, Sarbanes-Oxley & Dodd-Frank.
5. Increased production of domestic sources of Hydro-Carbon and Nuclear Energy so that the U.S. can be energy self-sufficient.

“Take these five steps and stand back as the whole world puts unprecedented cash to work as investment in the U.S. economy. Jobs and housing come back with a roar!  Bigger earnings will make greater tax revenues to reduce the deficit.

“The downward economic spiral is reversed to upward.”
— Steven Friedel, president
Strategic Brands, Inc.

“The Fed needs to downsize, not grow bigger by being in the rental business. Where will it end?”
— Richard Freund

“I imagine the government won’t be renting those houses out at market rates, and/or the government will subsidize the cost of the rent to the renters in some way.

“It is not hard to believe that in my neighborhood 4,000-sq.-ft. and 5,000-sq.-ft. homes will be subdivided into duplexes. This will then further reduce the value of my home until I’m so upside down that I in turn decide to default and hand my house over to the government. Due to the well-known lower level of home maintenance by both renters and rental owners, many homeowners’ insurance rates may be affected if a larger percentage of homes in the neighborhood are rentals. Plus, some HOAs have limits and/or restrictions on renting. However, these issues are nothing that an executive order can’t remedy. "
— Name withheld

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