Police break up building materials theft ring
After an eight-month investigation, police from several Oregon and Washington counties served search warrants on seven Portland-area houses and recovered approximately $1 million of stolen building materials, according to an article in The Oregonian.
Much of the recovered material — roofing shingles, siding, rebar and power tools — had been stolen from local businesses and was being offered up for sale on Craigslist and eBay, police said.
Authorities arrested Steven Terrill, 38, whom they accuse of being the ringleader of a network of suspects stealing vehicles and other items, creating fake credit cards and selling stolen property. Terrill was taken into custody just before dawn on Feb. 17, as he returned to a small white house in the Northeast section of Portland. The homes was elevated 12 ft. in the air and supported by a crisscross of steel beams, large house jacks and thick wooden blocks, all of which had been stolen from local businesses and construction sites, police said.
Ted Nisley, a branch manager at Allied Building Products Corp., arrived later to help identify materials. His crew recovered nearly $6,000 in allegedly stolen materials.
Allied workers carried out 90-lb. bags of roofing shingles and dropped them onto a large truck, as others hauled out long pieces of rebar or power tools.
At least five other individuals were arrested as part of the bust. KATU News reported that among the recovered building materials were windows destined to be installed in Terrill’s elevated house, which he was renovating.
New roles for ABC Supply execs
ABC Supply, the industry’s largest distributor of roofing and exterior building products, has announced that two of its VPs will be given new roles in order to maximize its 2010 acquisition of Bradco Supply Co.
Brent Fox has been named VP national business development, a new position with the company. He had been VP divisional operations. In his new role, Fox will focus on growing ABC Supply’s relationships with large national and regional customers, including home builders, remodelers, commercial contractors and storm contractors. The company’s national accounts, commercial products and commercial sales teams will report to him.
Kevin Hendricks has been named VP divisional operations and strategic business units. Formerly, he was VP branch operations. Hendricks will now have responsibility for ABC Supply divisions that include Mule-Hide Products Co. (low-slope roofing systems), Amcraft Building Products Co. (vinyl siding and window solutions), the ABC Supply catalog division (tools, supplies and equipment for contractors) and Town & Country Industries (manufacturer and wholesale distributor of building and aluminum products). He also will explore new entrepreneurial opportunities within and outside of ABC Supply.
Headquartered in Beloit, Wis., ABC Supply was founded by Ken and Diane Hendricks in 1982. The company has more than 450 branches in 44 states.
Mixed results in Case-Shiller report
The S&P/Case-Shiller Index, a bellwether for the new housing market, has reported that the U.S. National Home Price Index declined by 3.9% during the fourth quarter of 2010 compared with the same quarter in 2009.
As of December 2010, 18 of the 20 MSAs covered by S&P/Case-Shiller Home Price Indices were down compared with December 2009. The 10-City and 20-City Composites were down 0.9% and 1.0%, respectively, from their November levels.
Both Los Angeles and San Francisco reported negative annual rates of return in December, leaving San Diego and Washington, D.C., as the only two cities where home prices are increasing on a year-over-year basis, +1.7% and +4.1%, respectively.
According to David Blitzer, chairman of the Index Committee at Standard & Poor’s: “Unlike the 2006-to-2009 period when all cities saw prices move together, we see some differing stories around the country. California is doing better with gains from their low points in Los Angeles, San Diego and San Francisco. At the other end is the Sun Belt — Las Vegas, Miami, Phoenix and Tampa. All four made new lows in December.”
Blitzer also said that he was seeing “renewed weakness” in some cities that were among the last to reach their peaks, including Atlanta, Charlotte, Portland, Ore., and Seattle, where new lows are being recorded. Dallas, which peaked late, has so far stayed above its low mark of home prices in February 2009.