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HCN Stock Watch: TREX and LL plow ahead

BY HBSDEALER Staff

Both Trex (TREX) and Lumber Liquidators (LL) grabbed the market by the horns on Monday — to the tune of more than 5% each.

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Pender & Pettus Insulating opens new N.C. location

BY HBSDEALER Staff

Masco’s Pender & Pettus Insulating has opened a new location in Statesville, N.C., marking the third location for the company in the state.

"At Pender & Pettus Insulating, we truly embrace the philosophy of local relationships and national resources," said division manager Danny Allen. "For that reason, we feel that this new location will help us to better serve our customers in the Statesville area. With the increased footprint, we will be able to be more responsive to our customers’ needs and continue to provide the high quality installations that they have become accustomed to."

Pender & Pettus is part of the Masco Contractor Services family of companies and specializes in residential and commercial insulation, gutter, fireplace, closet shelving, mirrors, bath accessories and shower enclosures.

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NRF blasts swipe-fee settlement

BY HBSDEALER Staff

The class-action settlement between merchants and Visa and MasterCard is signed, sealed and delivered. A federal judge approved the $5.7 billion — that’s an estimate — class-action settlement over credit card fees.

It’s a settlement that is believed to be the biggest of its kind for antitrust matters. And the National Retail Federation is not happy.

“We are very disappointed that this deeply flawed settlement has been approved,” said Mallory Duncan, NRF senior VP and general counsel, in a prepared statement. “It is not supported by the retail industry and would do nothing to reduce swipe fees or keep them from rising in the future.”

Credit card swipe fees cost merchants and their customers an estimated $30 billion a year and have tripled over the past decade, according to the NRF’s analysis.

Duncan continued: “The settlement permanently ties the hands of thousands of businesses who wanted nothing to do with this misguided case, and a decision to approve it violates established law and common sense. We are reviewing the ruling and will take whatever steps are necessary to protect the rights of merchants and safeguard the pocketbooks of their customers.”

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