Martha rejoins her namesake board
Martha Stewart has rejoined the board of directors of Martha Stewart Living Omnimedia, the company has announced. Her addition will expand the number of directors to nine members.
Stewart has been officially absent from the company she founded because of a five-year Securities and Exchange Commission (SEC) ban on serving as a board member or an executive of a public company. The SEC prohibition was part of a settlement over insider-trading charges for which Stewart served five months in prison.
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August Consumer Confidence Index rises marginally
Consumer confidence continues to plod along in the mid-forties.
Data released Tuesday morning by the New York City-based Conference Board showed the Consumer Confidence Index for the month of September at 45.4, up slightly from an upwardly revised 45.2 reading in August.
A year ago, the index was at 48.6. It rose to above 70 in February of this year, but has since slipped back into the forties for two consecutive months.
“The pessimism that shrouded consumers last month has spilled over into September. Consumer expectations, which had plummeted in August, posted a marginal gain," said Lynn Franco, director of The Conference Board Consumer Research Center. "However, consumers expressed greater concern about their expected earnings, a sign that does not bode well for spending. In addition, consumers’ assessment of current conditions declined for the fifth consecutive month, a sign that the economic environment remains weak.”
Consumers’ short-term outlook, which had deteriorated sharply last month, improved slightly in September. Those expecting business conditions to improve over the next six months decreased to 11.3% from 11.8%, while those expecting business conditions to worsen declined to 22.6% from 24.6%.
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Study: Demand for countertops is growing
A report from Freedonia Group estimates demand for countertops in the United States will reach 760 million sq. ft. in 2015 — valued at $24.6 billion.
After falling 2.4% from 2005 to 2010, countertop demand will increase 4.8% from 2010 to 2015, according to the Cleveland-based research firm.
"The countertop industry was hit hard over the last few years as it actually contracted in light of macroeconomic recessionary conditions and a drastic downturn in the housing market," according to the the report, called "Countertops." "A recovery in new housing construction will drive countertop demand, while in the larger remodeling market lower unemployment and greater credit availability will provide incentive for consumers to reinvest in their homes, including countertop installation as part of a kitchen or bathroom remodel."
Residential market will continue to dominate countertop demand, and laminate countertops will continue to lead the market, the Cleveland-based research company predicts.
I am glad to hear that the
I am glad to hear that the market is reviving, I now dare to think even further and allow myself to become more optimistic about my new remodeling project. I hope I'll be able to find a wide variety for countertop colors, I am not willing to compromise.