Jay McIntosh

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Pier 1 Imports rises from the doormat

Pier 1 Imports’ stock has gone from doormat to darling in two days. It rose 275% Monday and is still climbing today. All this after an evidently successful move to shore up its balance sheet by selling some debt to an overseas subsidiary, and a report by industry analyst Budd Bugatch of Raymond James that, in his opinion, the Fort Worth, Texas-based retailer now looks strong enough to survive the... More

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Who might buy furniture companies?

Furniture/Today columnist Jerry Epperson wrote a piece a few weeks ago lamenting the fact that he could either supersize his fast-food meal or for the same money, buy shares of stock in several furniture manufacturers or retailers. His point: Many of the stocks of our industry’s publicly held companies are way undervalued. This raises an interesting question. Even in this era of tight credit, I wo... More

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Like us, president's new man has China ties

President Obama’s latest, and hopefully last, choice for Commerce secretary has something in common with the furniture industry — close ties to China. Former two-term Washington Gov. Gary Locke is the son of Chinese immigrants and is the only Chinese American ever to become a governor. In the four years since he left office, he has led the China practice of a Seattle law firm, according to a New Y... More

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Here’s why our industry won’t ever get a bailout

Here’s a message I think we’ll hear on our voicemail sometime in the next six months: Greetings from the Federal Bailout Administration. We have taken the U.S. furniture industry’s request for a bailout under advisement. In case you are unfamiliar with Washington-speak, that means we are sitting on it, buddy. Your chance of getting a bailout is about as good as the chance that your government will... More

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What’s next for Furniture Brands International?

What’s next for Furniture Brands International? If Sun Capital did indeed win three seats on the board as it claims, the answer could be turmoil. Furniture Brands, the parent of Broyhill, Lane, Thomasville, Drexel Heritage, Henredon and Maitland-Smith, says it needs until May 20 to verify the results of the proxy election votes that were submitted at this week’s annual shareholders meeting. Sun s... More