Lumber Liquidators has its say in hedge fund debacle
Lumber Liquidators issued a statement in response to hedge fund manager Whitney Tilson, whose short position on the company caused shares to plummet nearly 12% on Friday.
Tilson made the announcement at the Robin Hood Investors Conference in New York on Friday, citing allegations surrounding the company’s sourcing practices that surfaced earlier this fall.
The company stated that it had not personally discussed these claims with Tilson, and it reaffirmed its denial of the allegations, according to the Wall Street Journal.
“Mr. Tilson’s presentation is based entirely on his own speculation and the contents of a report released almost two months ago, which we had previously stated contained numerous inaccuracies and unsubstantiated claims," said the statement. "We invest significant time and resources to safeguard quality control and compliance.”
According to the report in question, which was published by the Environmental Action Group, Lumber Liquidators has been knowingly sourcing wood from protected forests in Far East Russia, which is home to the endangered Siberian tiger.
GAF sets its sights on Parsippany headquarters
GAF has announced its plans to relocate its corporate headquarters to Parsippany, N.J. The move will transpire once renovations are completed on the company’s new building at 1 Campus Drive.
Approximately 600 employees and contractors currently working at the company’s headquarters in Wayne, N.J. will transfer to the new location.
“Our offices in Wayne, as well as this community, have been terrific for us for many years, and leaving here will be difficult,” said GAF president and CEO Bob Tafaro. “However, the building in Parsippany offers us a modern office with improved work efficiencies which will allow us to continue to improve our services to our customers while providing room for future growth.”
GAF’s headquarters has been stationed in Wayne for over 30 years. The future of the Wayne campus remains undecided.
Grill Daddy brings ‘indoor/outdoor power tongs’ to the market
Grill Daddy has announced the launch of the King Tong, a set of tongs designed for indoor and outdoor use with built-in safety features.
“Whether tending an open camp fire, standing around a fire pit or moving logs in a fireplace, King Tong is the safest and most convenient tool on the market,” said Michael Wales, founder of Grill Daddy. “We created King Tong out of a need our customers expressed for a tool that could handle any open fire application. Our engineers designed features like the Heat Shield Comfort Grip handle, pop-up Power Handle and spring-action assist jaws with gripping teeth to give Grill Daddy users a power tong like no other.”
Designed for the safe handling of fire pits, fireplaces and hot objects, the King Tong is weighted and balanced for maximum control and includes a pop-up power handle that rotates 180 degrees for increased leverage.
The heavy-duty stainless steel tongs also measure 30 inches in length to provide a safe distance from hot objects,
For added protection, a heat shield hand guard protects hands from heat and sudden flare-ups.