U.S. backs Whirlpool in anti-dumping case
Appliance maker Whirlpool prevailed in a preliminary finding by the U.S. Commerce Department that foreign producers in South Korea and Mexico — including Samsung Electronics and LG Electronics — violated United States and International trade laws by “dumping” bottom-mount refrigerators in the United States.
The Oct. 27 ruling found company-specific dumping margins for four Mexican producers: Samsung at 36.65%, LG at 16.44%, Mabe at 36.21% and Electrolux at 19.80%. In Korea, manufacturer Samsung was hit with a 32.2% anti-dumping duty, and LG received a 4.09% penalty.
As a result of the Commerce Department’s action, affected importers will be required to post bonds as security for possible future payment of anti-dumping duties if United States’ wholesale sales prices on bottom-mount refrigerators are not raised to fair value.
Manufacturer Samsung released a statement after the ruling saying it is in compliance with U.S. trade laws and expects to ultimately prevail.
“The Department of Commerce took exception to the manner in which Samsung provided certain information and, as a result, made adverse assumptions in its calculations of the anti-dumping margins. However, the Department of Commerce has requested that Samsung provide the needed information in a different form, which it has agreed to consider before issuing its final determinations. We intend to present factual data and information to that end during the full investigation.”
The Commerce Department said it is halfway through its investigation, and will seek further information from the companies being investigated and conduct a full audit before the final determination. These results are expected in March 2012. On the successful completion of this case, the United States government may assess duties against United States imports from South Korea and Mexico of bottom-mount refrigerators.
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Jury recommends death sentence in slaying of HD manager
The trial of a man accused of killing a Home Depot store manager in a 2007 robbery attempt ended in a guilty verdict with a recommended death sentence, according to an article in the Los Angeles Times.
Jason Richardson, 40, entered a Tustin store in Southern California disguised as a painter and shot store manager Thomas Egan in the stomach after Egan tried to discourage him from hurting anyone, the Orange County district attorney’s office said. Richardson fled with $500, but investigators identified him through a DNA match on a sock full of ammunition he left behind.
Egan was the father of twin daughters under the age of five when he was killed.
When arrested in Oceanside, Calif., Richardson was on parole for a 2002 spousal abuse conviction. He had a string of convictions that included rape, sexual assault on a child, grand theft burglary, narcotics and possession of stolen property, police said.
Two previous juries this year and last year were unable to reach a verdict regarding the death penalty, according to the newspaper. Richardson is scheduled to be formally sentenced Nov. 18 at the Central Justice Center in Santa Ana.
Not that killing this scum
Not that killing this scum will provide any solice to the overall situation, and there will be appeal after appeal, but the right decision was made.
Market Recap: RISI Crow’s Construction Materials Cost Index
A price index of lumber and panels used in actual construction for Oct. 28, 2011
*Western – regional species perimeter foundation; Southern – regional species slab construction.
Crow’s Market Recap — A condensed recap of the market conditions for the major North American softwood lumber and panel products as reported in Crow’s Weekly Market Report.
Lumber: Western SPF lumber mills were more open to moving off volumes of 2×4 #2&Btr in the $225-to-$230 range on Thursday, which prompted more buyer participation and firmed that price. Wholesalers covered shorts and purchased speculative volumes, perceiving some upside to the market. Traders grew more discouraged in response to continued weakness in the Southern Pine lumber market. Even those producers lowering quotes well below those of other mills reported slim interest from customers. Other than the persistent housing and economic malaise, uncertainty surrounding design values was blamed for much of the downturn in purchases. Coastal species lumber producers began negotiating early to move production. Some of the most aggressive pricing was found in both green and dry Doug Fir. A reduction in inventory prior to the sale of an Inland mill contributed to the already soft White Fir/Hem-Fir market. Traders looked for bargains and found some, as producers continued to look for a floor to the market. Producers reported Sugar Pine 1×12 #3 was a “hard sell.” Reports of increased inquiry for boards from big-box stores circulated, but little follow-through was reported. Buyers of Ponderosa Pine Mldg&Btr and Shop were able to find most of their needs readily available. The majority of buyers, however, were not participating in the market. Many said they were looking for prices to weaken, as the market moved into the winter months. More Western Red Cedar producers noted a decline in demand, perceiving it to be the seasonal downturn heading into the late fall and winter months.
Panels: The overall OSB market remained quiet but steady for another week. Producers concentrated on keeping ahead of production but held firm on prices as soon as an order file was established. Southern Pine plywood producers aggressively sought rated sheathing price levels that might attract buyers. Urgency among producers to sell brought about a range of quotes and sales levels, some at $40 below Monday’s levels. Western Fir plywood mills used double-digit discounts to sell enough volumes to edge order files into the week of Nov. 7. At that point, they began raising quotes modestly. Shipments of a large volume of panels to a big-box distribution center prompted some producers to limit the depth of discounts. Counters of varying degrees were offered to Canadian plywood producers. Depending on the order file of the mill and the nature of the offer, some discounts were made to mill-asking levels. Throughout the distribution channel, particleboard and MDF sales were steady. Producers were not seeing a significant change in their takeaways, and yards reported steady sales.
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