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Following up: E-commerce and True Value

BY HBSDEALER Staff

True Value CEO Lyle Heidemann has made no bones about e-commerce: “This is something we believe we need to do to be competitive,” he told HCN at the Chicago-based coop’s last fall conference. “You have to be there.”

This year, steps are being taken to make it happen. Later this month, the co-op’s 2010 Fall Market in Las Vegas will include a double header—two sessions called “Get on Board with True Value E-Commerce.” Based on the seminar’s description, True Value will introduce e-commerce this fall, allowing customers to order online and pick up merchandise at the member’s store.

Participation in True Value e-commerce will be optional, but training will be required, according to the company’s early announcements.

Also at the show’s Las Vegas market Sept. 13-15, True Value will introduce its new and improved True Value Rewards program.

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Pending home sales rise modestly in July

BY HBSDEALER Staff

The Pending Home Sales Index, a forward-looking indicator, rose 5.2% to 79.4 based on contracts signed in July from a downwardly revised 75.5 in June, according to the National Association of Realtors (NAR).

The index, released Thursday, is 19.1% below June 2009 when it was 98.1. The data reflects contracts and not closings, which normally occur with a lag time of one or two months, according to the NAR.

Lawrence Yun, NAR chief economist, cautioned that there would be a long recovery process. “Home sales will remain soft in the months ahead, but improved affordability conditions should help with a recovery,” he said. “But the recovery looks to be a long process. Home buyers over the past year got a great deal, and buyers for the balance of this year have an edge over sellers. For those who bought at or near the peak several years ago, particularly in markets experiencing big bubbles, it may take over a decade to fully recover lost equity.”

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Suspects stalled by flat tires

BY HBSDEALER Staff

Two men suspected of stealing power tools from a Southern California Home Depot were arrested on Aug. 20 after their getaway vehicle developed two flat tires.

Deputies from the Victorville Police Station, summoned by store personnel, arrived at the Home Depot on Bear Valley Road shortly before noon to find a black SUV leaving the scene. One suspect attempted to drive the car, which had two flat tires, along an adjoining road but soon fled the vehicle on foot. He was arrested by sheriff deputies.

Asecond suspect was detained in the parking lot of the store.

Inside the SUV, law enforcement officers found electric drills valued at more than $2,000 that had been allegedly stolen earlier that day at another Home Depot store in Victorville.

Arrested for commercial burglary were Jose Munoz, 34, and Rolando Martinez, 39, both from Los Angeles. The suspects are known gang members, according to authorities.

Karen Hunt, a spokeswoman for the Victorville Sheriff’s Department, told Home Channel News that the commercial burglary charges stem from the suspects’ “intent to steal,” as opposed to “spur of the moment” shoplifting. As for the flat tires, “They tried to drive over an embankment in order to get away the deputies and loss prevention [personnel],” Hunt said.

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