Ousted CEO Joel Matlin resigns from AlarmForce board of directors
Just days after he was blindsided by his dismissal, former AlarmForce CEO Joel Matlin has voluntarily resigned from the company’s board of directors, the company announced.
The resignation, effective July 30, comes about a week after he was unanimously terminated by the board on July 23 following a year-long strategic review, with the possibility of a sale that failed to attract a buyer.
Matlin was reportedly surprised by the announcement, according to a report from Canadian Press, given the nearly doubled net income figures the company posted for the quarter ending Jan. 31. According to the report, Matlin was still appearing in television ads a week after his termination.
“If you’re going to get rid of the face of the company, wouldn’t it make sense if you had a marketing plan in place?” Matlin told the news source.
Matlin had been the CEO of the company since its 1988 beginnings with a nearly 8% stake in the company. Initially, he was considering his legal options and asking shareholders to reinstate him via a proxy vote, but his resignation could signal a reversal of priorities.
According to the news source, Matlin admitted that his termination was related to a conflict he had had with CFO Anthony Pizzonia, who is serving as interim president and chief executive for the time being.
"The Board wishes to acknowledge Mr. Matlin’s instrumental role in founding and developing AlarmForce into one of the leading providers of security services in Canada, and wishes to thank him for his numerous contributions to the Board," said the company in a statement.
Global Cranes promotes Ed Gibson
Global Cranes & Machinery appointed Ed Gibson to the newly created position of sales manager Americas.
Gibson has more than 25 years of experience in the crane industry. He joined the Global team in 2009 as the North American sales manager and most recently served as sales manager of North and Central America.
Among other things, Global is the exclusive international distributor of Zoomlion Rough Terrain cranes — a line of RT cranes loaded with all the features and meeting the tallest expectations in engineering and design. Five models are available, with lifting capacities ranging from 35 to 100 tons.
Remodeling gains expected to continue into 2014
This just in from the Joint Center for Housing Studies of Harvard: A strengthening housing market has been good for home improvement spending.
It’s not rocket science. And the Joint Centers’ Leading Indicator of Remodeling Activity (LIRA) expects remodeling growth to continue for the foreseeable future.
“Homeowners are more comfortable investing in their homes right now,” said Eric S. Belsky, managing director of the Joint Center. “Consumer confidence scores are back to pre-recession levels, and since recent home buyers are traditionally the most active in the home improvement market, the growth in sales of existing homes is providing more opportunities for these improvement projects.”
General strengthening in the housing market over the past 18 months is translating into increased spending on home improvements, according to the Leading Indicator of Remodeling Activity (LIRA). The four-quarter moving rate of change for remodeling activity measured 4.5% in the first quarter of 2013, according to the U.S. Census Bureau. LIRA projections are for an 8.6% increase in the rate of change in the second quarter, and then growth rising into the high teens in the near future.
Kermit Baker, director of the Remodeling Futures Program at the Joint Center, offered caution along with the growth projections.
“With housing starts leveling off in the second quarter and financing costs beginning to edge up, we may be seeing the beginning of more measured growth in the residential markets,” he said. “Given normal timing patterns, this suggests that the pace of growth for home improvement spending should begin to moderate as we move into 2014.”