Serta statement

Statement by Bob Sherman, president of Serta International, on Serta's ISPA membership:

"We have assessed Serta's 2004 expenditures to ISPA to determine their impact on Serta's primary goal — which is to help our retail partners grow their business. While we met the needs of our business partners (in 2004), ISPA did not help us accomplish this priority. Therefore, we have decided to resign our membership.

"In recognition of Serta's longstanding participation and leadership role in ISPA, we will review this decision annually. A time may come when it makes sense for Serta to rejoin ISPA; therefore, we will continue to assess this situation closely."

ISPA statement

Statement by ISPA Chairman Tom LeDuc on Serta's resignation from ISPA:

"It was, of course, a disappointment for us to receive Bob Sherman's letter of resignation from ISPA.

"Everyone in the industry knows that Serta has played a key role in the history of our association. The ISPA organization has had the benefit of being led by many key Serta people over the years. Their input has been invaluable, and hopefully they will continue to help our organization grow and prosper in the future.

"The retail bedding industry has seen exciting growth this past year. Because of research being done by our Better Sleep Council and industry sales associates being better educated, sales volume has increased both in units and dollars per piece. ISPA has influenced these developments.

"Perhaps more importantly, ISPA continues to represent the needs of its members. We are in the third year of implementing the Strategic Plan for our association that was developed by all of our membership. This Strategic Plan was designed to be timely and responsive to changes. All industries constantly face challenges, and the need for professional representation is critical.

"ISPA has participated in solving many issues facing our membership, from flammability to consumer education. With the dedicated and talented staff and the involvement of the membership, ISPA will continue to effectively represent us with all the seen and unforeseen developments coming our way."