HBSDealer Stock Watch: Bears run wild on Wall Street
The stock market took a deep dive south on Thursday, with 27 out of 30 home industry stocks showing declines. Only AWI, BXC and DOOR showed an increase for the day. Decliners were led by SSD, down 3.9%; HBP, down 3.6%; and SHLD, down 3.5%.
Poll results: Up in smoke?
The list of states that have passed laws decriminalizing certain marijuana possession offenses is growing. And the newly elected New Jersey governor campaigned in the direction of legalization.
As the movement grows, the construction industry cringes, or at least some of the construction industry. Concern over the mental state of employees handling heavy equipment on the job site, many believe, can be a big problem in states that allow marijuana.
Still, almost as many readers had a positive reaction as a negative reaction to the growing movement of decriminalization.
Specifically, HBSDealer asked: “As more states consier decriminalization or legalization of marijuana, what’s your reaction?” Here are the responses:
• 46% “Negative. Marijuana and construction do not mix.”
• 45% “Positive. Legalize it, and gain much needed tax revenue.”
• 9% “Neutral. It’s not an issue on my day-to-day radar.”
In Orlando, a Spirit of Life kick off
It was a busy year for fundraising for City of Hope in the hardware and homebuilding industry. And it’s about to get busier.
The traditional City of Hope Spirit of Life Award Reception will attract industry executives from around the country to Orlando, Fla., Jan. 8, on the eve of the International Builders’ Show. The Golf and Gala event will celebrate a year in which $3 million was raised for the Duarte, Calif.-based world-famous cancer research and treatment center.
According to Matt Dodd, senior executive director of corporate philanthropy for City of Hope, “The Spirit of Life Golf and Gala in January are the kick off events for each fundraising year,” he said. “For the 2018 City of Hope fundraising campaign honoring Behr Process Corp. and Jeff Filley, we have the goal to raise $3.5 million.”
Raising millions of dollars to fight diseases including but not limited to cancer is par for the course for the hardware and homebuilding industry. In the past 35 years, some $155 million has been raised for City of Hope, as the Spirit of Life award recognized many of the biggest names in home improvement.
Last year, the recognition went to the family ownership of the Atlanta-based Quikrete Cos.—Jack, Dennis and Jim Winchester.
Quikrete and the 2018 Spirit of Life honoree – Behr Process Corp. and Jeff Filley – join a long list of influential industry executives who led the fundraising charge for the year. On the list are Bernie Marcus (1986); Maggie Hardy Magerko (2006), and Robert Strickland and Leonard Herring (1983).
The hardware and homebuilding industry has several events planned for rest of the year, including some new ones – such as a fundraising Day at the Races at Santa Anita Park in Southern California.
“We hope over the course of the year, we’ll be able to add a handful of more new events and/or fundraising programs,” Dodd said. The Spirit of Life event sets the tone for the year. “If all continues to go well, $700,000 will be raised from the Spirit of Life Golf and Gala.”