Lancaster helps paint the town
The Lancaster Paint Las Vegas Buying Show opened its doors, marking a collaboration with the National Hardware Show to allow buyers to browse and buy the paint and sundries category in one place.
The two-day Lancaster event at the Las Vegas Hotel & Casino, next door to the Las Vegas Convention Center, opened Wednesday with some 100 exhibits.
"Being in one location will help drive more paint customers to both shows," said Mike Dube, category manager at Lancaster. "Our vendors have been very supportive of us being here, and we’ve also been able to bring some big-brand paint vendors to the table that might not normally come to the National Hardware Show. That’s good news for attendees of both shows, as there will be a lot more vendors for everyone to see."
One of Lancaster’s newest retail customers said he saw the value in the co-location of the shows. "We really appreciate the Lancaster Buying Show as it allows us to see a wide range of products all under one roof," said retailer Juan Masip Diaz of Dijtham Curacao in Curacao, Antilles. "We’ve already been to the National Hardware Show and were impressed with how we were able to see so much more than hardware products there, such as the home and garden products."
John Plocic, director of sales at Techtronic Industries North America, was one of the new exhibitors to Lancaster’s show. "We’re excited to be here and we’ve had a lot of traffic already,” he said. “A lot of the retailers have already been looking at paint vendors in the National Hardware Show, and now they’re excited to come here and see even more options here.”
Menards opens first store in Kentucky
One year ago it was just a set of blueprints, but Menards first location in Kentucky — a megastore measuring more than 200,000 sq. ft. — opened on May 1 in Owensboro, Ky., according to an article in the Messenger Inquirer.
Menards will be the first store to operate in the 67-acre Heartland Crossing shopping center. Designs for that $45 million development feature building pads for restaurants, banks, offices and a hotel.
After concerns were raised by local citizens and businesses, the state of Kentucky agreed to make improvements to nearby roads and add exit ramps.
March ushers in almost 70,000 foreclosures
CoreLogic, a provider of information, analytics and business services, released the most recent figures for its monthly National Foreclosure Report, reporting 69,000 completed foreclosures in March 2012. This compares with 85,000 in March 2011 and 66,000 in February 2012.
Approximately 1.4 million homes, or 3.4% of all homes with a mortgage, were in the national foreclosure inventory as of March 2012 compared with 1.5 million, or 3.5%, in March 2011 and 1.4 million, or 3.4%, in February 2012. The number of loans in the foreclosure inventory decreased by nearly 100,000, or 6.0%, in March 2012 compared with March 2011.
"The overall delinquency level was unchanged in March, remaining at its lowest point since July 2009," said Mark Fleming, chief economist for CoreLogic. "Non-judicial foreclosure markets like Nevada, Arizona and California are experiencing significant improvements in their shares of delinquent borrowers. Some judicial foreclosure states are also improving, like Florida, but not to the extent of non-judicial markets."
The five states with the highest foreclosure rates, according to the CoreLogic report, were: Florida (12.1%), New Jersey (6.6%), Illinois (5.4%), Nevada (4.9%) and New York (4.9%).
The five states with the lowest foreclosure rates were: Wyoming (0.7%), Alaska (0.8%), North Dakota (0.8%), Nebraska (1.1%) and South Dakota (1.4%).