NLBMDA brings dealers to D.C.
The National Lumber and Building Material Dealers Association (NLBMDA) will bring its message to the halls of power as part of the group’s three-day Spring Meeting & Legislative Conference, March 5 to 7.
The Washington, D.C., event will coincide with election-day activity — March 6 is Super Tuesday, in which 10 states hold their primary elections.
The LuDPAC fundraising luncheon on Monday, March 5 will feature Alex Castellanos, GOP political strategist and CNN political analyst. The event will offer a look behind the scenes of what is to come in the 2012 election, according to the NLBMDA.
As in past years, the conference will again take place jointly with the Window and Door Manufacturers Association (WDMA).
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Feds ignored warning signs of housing bust
Transcripts unsealed from a May 2006 meeting of the Federal Reserve indicate some concern about the housing bubble and the use of “exotic” mortgages by home buyers, according to a Jan. 13 article in the Wall Street Journal. But Fed Chairman Ben Bernanke described the slowdown of the housing market “a healthy thing” and an “orderly decline” that posed little threat to the U.S. economy.
“Again, I think we are unlikely to see growth being derailed by the housing market,” Bernanke said in the closed-door meeting.
Home prices, which peaked in May 2006, according to the S&P/Case-Shiller index, have since fallen 33%.
In another meeting later that year, in December 2006, Timothy Geithner, then president of the Federal Reserve Bank of New York, agreed that housing problems would not weaken the nation’s growth "[based] on our recent financial market data.” Geithner now serves as Treasury Secretary.
The article does quote two prescient officials: Janet Yellen, who headed the San Francisco Fed in 2006, warned that the slowdown could become “an unwelcome housing slump.” And Susan Bies, a Federal Reserve Governor from 2001 to 2007, sounded the alarm about exotic mortgages. “A lot of the private mortgages that have been securitized during the last few years really do have much more risk than the investors have been focusing on,” she said in a 2006 meeting.
Decking distributor partners with railing manufacturer
Absolute Distribution Inc. (ADI) has announced an agreement with Fairway Building Products to serve as a key distributor of Solutions Aluminum Railing and Balusters.
Solutions serves both residential and commercial markets with a unique sculpted top rail and softened radial corners. The company offers a line of bracketry and hardware to support virtually any installation application. Its baluster offering features both traditional and contemporary railing components.
ADI, located in Minneapolis, is a marketer and two-step distributor of decking-related specialty products to independent lumber dealers, building centers and home improvement centers. It offers a wide selection of railing components, rail systems, balusters, post caps, deck lighting, fasteners, aluminum decking, tools and accessories from leading manufacturers.