Two more units of Lyman Lumber, the No. 21 company on this year's ProSales 100, are in the process of shutting down as a consequence of Lyman's Chapter 11 bankruptcy. More
A subset of building material dealers report conditions with their banks has gotten tougher, and some are looking to change lenders, but for the most part they regard their condition as better than what their customers are going through, a new ProSales survey indicates. More
Lyman Lumber, the No. 21 dealer on this year's ProSales 100 that filed for Chapter 11 bankruptcy earlier this month, has $100.3 million in total liabilities and only $15.5 million in assets. Lyman Lumber posted year-to-date results of $15.4 million, which appears to put the company on track for well below the $37.4 million in profit the company posted last year. More
Lyman Lumber Co. announced it has begun Chapter 11 bankruptcy proceedings and that it agreed to sell its Midwest operations to Steel Partners, a New York-based strategic advisory and management company. More
The National Lumber and Building Material Dealers Association urged government agencies to reconsider proposed changes to the loan-to-value ratios for Qualified Residential Mortgages (QRM), arguing that the proposed revisions may prevent otherwise creditworthy consumers from qualifying for mortgages and refinancing on home purchases and renovations. More
Sign makers have had a busy time this spring, thanks in part to a robust number of acquisitions, openings and closures at construction supply facilities across America. More
It took three months for Jeffrey Rea to imprint his stamp on Stock Building Supply, and when he did, he didn't shy from making big moves. More
Veteran LBM exec Don Magruder sees many foreclosed and abandoned properties in the Florida markets where he operates. While he found the properties to be poor physical shape, the paperwork and details regarding the foreclosures were even worse--from missing paperwork to unresponsive bankers. More
Tenacity, creativity, realism, and willingness to lobby the government for change: These are the top recommendations LBM executives give on how to fight the slowdown in banks' construction lending, responses to a Southern Building Material Association "Dealer Helping Dealer" sounding found. More
Veteran LBM exec Don Magruder says recent research on business in his part of Central Florida shows lots of potential Projects are getting killed because banks are refusing to lend money for new-home construction, often for poor reasons. The federal government needs to push bankers back to the lending window, he says. More