HCN Stock Index sinks to 696.59
The financial roller coaster continues.
The HCN Stock Index dropped 8.62 percent Wednesday, pushing the index down to 696.59. All 20 home channel stocks on the index dropped dramatically on a day when the Dow Jones Industrial Average dropped 733 points to 8,577.9 — a 7.87 percent decline.
Retail giants Home Depot, Lowe’s and Sears Holdings suffered the least amount of damage Wednesday, but the trio still declined 5.89 percent, 4.95 percent and 4.93 percent, respectively.
The double-digit percentage decliners were Fastenal, Tractor Supply, Louisiana-Pacific, Builders FirstSource and BlueLinx Holdings.
Since the Sept. 15 bankruptcy announcement of Lehman Brothers, the HCN Stock Index, a basket of 20 stocks weighted by market cap, has declined 30.33 percent.
Former Hechinger, GP exec hired at Viance
Viance, the Charlotte, N.C.-based wood treatment technology provider, has hired Chris Kollwitz as its new director of marketing. He comes to Viance from ELF Wood Products in Atlanta, where he worked as director of sales and marketing for two years.
Kollwitz’s career in the building products industry began at Hechinger, where he worked in store operations and planning from 1985 to 1993 and was involved in the former retailer’s launch of the “Home Project Center” concept.
In 1993, Kollwitz joined Georgia-Pacific as senior marketing manager for its building products businesses. In 2004, he was promoted to national account executive to home improvement retailer Lowe’s, and later worked for BlueLinx after it purchased GP’s distribution business.
Ajoint venture between Rohm and Haas and Chemical Specialties, Viance is a provider of wood treatment technologies and services to improve the performance and durability of wood and wood products.
Stimson Lumber auctions off mill items
Stimson Lumber has auctioned off the inventory of its 125-year-old mill in Bonner, Mo.
The Portland, Ore.-based lumber company closed the mill in July of this year following a “chronic, long-term” shortage of logs in western Montana relative to the high milling capacity in the area.
According to the Missoulian newspaper, goods are being auctioned off of the mill through today, including blades, drill presses and numerous other items. The lumber mill has been up for sale since August, at an asking price of $16 million, according to the report.
Stimson Lumber operates nine manufacturing locations in the United States, in Idaho, Montana, Oregon and Washington.