Brooke Chase

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KCMA Applauds Positive Step Forward by Commerce on Unfairly Traded Cabinet Imports from Malaysia and Vietnam

A Transparent Supply Chain Will Benefit Domestic Manufacturers and U.S. Cabinet Workers

Reston, Virginia: 5 April 2024—Today, the Kitchen Cabinet Manufacturers Association is announcing that the U.S. Department of Commerce has taken a positive step forward to stop unfairly traded Chinese cabinet and components parts being moved through Malaysia and Vietnam, circumventing the anti-dumping and countervailing duty orders on wooden cabinets, vanities and components thereof (“WCV”) from China.

The Commerce Department just proposed plans to create a certification process, that will disrupt the flow of finished and unfinished Chinese cabinet components parts being completed in Malaysia and Vietnam before being sent to the U.S. market. As part of the proposed process, both importers and exporters will be required to certify that each shipment of cabinets from Malaysia and Vietnam does not contain finished and/or unfinished Chinese cabinet components, including the doors, drawer faces, and frames.

“Today’s announcement by the U.S. Department of Commerce is a great step forward as we work to ensure that all cabinets and components flowing through Malaysia and Vietnam are manufactured there, not in the People’s Republic of China” remarked KCMA CEO Betsy Natz.

“On behalf of KCMA member companies, let me commend the U.S. Department of Commerce for their continued efforts to enforce these orders and create a chain of custody to stop the cheating” concluded CEO Natz.

Commerce has provided interested parties an opportunity to submit comments on the proposed certification process on April 19, 2024, and to submit rebuttal comments on April 26, 2024. Commerce intends to issue its final scope ruling on June 14, 2024.

In April 2020, in response to petitions filed by KCMA to combat unfairly traded imports from China, the U.S. Department of Commerce issued antidumping and countervailing duty orders on wooden cabinets, vanities and components thereof (“WCV”) from China. The relief provided by these orders to the domestic industry was being eroded by WCV that were made in China and then transshipped through Malaysia and Vietnam to the United States. In April 2022, the KCMA requested that the Commerce Department conduct scope inquiries and anti-circumvention proceedings to address this problem and protect tens of thousands of American cabinet jobs.

As we move forward, KCMA will continue our work to fight for fair trade and ensure that domestic cabinet manufacturers are competing on level playing field.

By |2024-04-08T10:36:13-04:00April 8th, 2024|Categories: Articles|

Baltimore bridge collapse to cause logistics headaches, not supply chain crisis.

By David Lawder, additional reporting by Daniel Burns and David Shepardson in New York; Editing by Stephen Coates and Josie Kao

WASHINGTON, (Reuters) – The catastrophic bridge collapse that closed the Port of Baltimore to ship traffic on Tuesday is causing some logistics headaches, but is unlikely to trigger a major new U.S. supply chain crisis as competing East Coast ports are poised to handle more cargo, economists and logistics experts say.

With six people presumed dead after a container ship collision destroyed the Francis Scott Key Bridge, it remained unclear how long the span’s twisted superstructure would block the harbor’s mouth.

But port officials from New York to Georgia were busy fielding queries from shippers about diverting Baltimore-bound cargo from containers to vehicles and bulk material.

“We’re ready to help. We have ample capacity to absorb any surge in container traffic,” Port of Virginia spokesperson Joe Harris told Reuters.

The Norfolk-based port is expected to be a major beneficiary due to its proximity to Baltimore, but ports in Savannah and Brunswick, Georgia, also were poised to absorb some traffic, a spokesperson for the Georgia Ports Authority said.

U.S. Transportation Secretary Pete Buttigieg told MSNBC on Wednesday that while there were many ports on the East Coast, “there is no substitute for the Port of Baltimore being up and running,” as it is the top U.S. port for vehicle imports and exports, including farm and construction machinery.

Treasury Secretary Janet Yellen said a federal supply chain task force was meeting on Wednesday to assess the port’s closure but said the Biden administration “will do everything as quickly as we possibly can” to reopen it.

Supply chain experts say U.S. port infrastructure is more resilient than during 2021 and 2022, when they were understaffed and clogged with ships and containers, spiking prices and contributing to inflation as Americans binged on goods purchases during the COVID-19 pandemic.

“The collapse of the Francis Scott Key Bridge in Maryland is another reminder of the U.S. vulnerability to supply-chain shocks, but this event will have greater economic implications for the Baltimore economy than nationally,” Ryan Sweet, chief U.S. economist at Oxford Economics, wrote in a note.

“We don’t anticipate that the disruptions to trade or transportation will be visible in U.S. GDP, and the implications for inflation are minimal,” he added.

NO SHIPS, NO WORK

The impact on the Port of Baltimore’s more than 2,000 workers who load and unload cargo vessels could be significant if the closure lasts more than a few days.

The dockworkers are day laborers, said Scott Cowan, head of the International Longshoreman’s Association Local 333 in Baltimore, meaning they only work when there is cargo to be moved. He estimated there might be about a week’s work clearing the existing inventory at the port.

After that, the workers could lose a collective $2 million a day in lost wages, he said.

The port directly generates, opens new tab over 15,000 jobs, with an additional 140,000 jobs dependent on port activity, according to Maryland Governor Wes Moore’s office.

VEHICLE PORT

One area of concern is higher shipment costs for imported cars and trucks and for exports of farm tractors and construction equipment as Baltimore is the largest U.S. port for “roll-on, roll-off” vehicle shipments, with over 750,000 cars and light trucks handled by state-owned terminals in 2023, according to Maryland Port Administration data.

Ford Motor Co (F.N), opens new tab and General Motors (GM.N), opens new tab said they would reroute some affected shipments but the impact would be minimal, while Volkswagen (VOWG_p.DE), opens new tab is unaffected because its new Sparrows Point vehicles terminal is located at a former steel mill site on the bridge’s Chesapeake Bay side.

The risk of car price spikes is further dampened by a recovery in automotive inventories to their highest level since May 2020, after being drawn down sharply during the pandemic. The industry’s inventory-to-sales ratio is near its 32-year-average of 1.96 to 1 according to Census Bureau data, and sales incentives have risen in recent months as high interest rates dampen demand.

COASTAL SHIFT

Ryan Peterson, founder and CEO of logistics platform Flexport, said that with Baltimore handling only 1.1 million twenty-foot equivalent containers last year – ranking 12th in the U.S., any impact on container rates and shipping costs from the disruption would be far less than increases caused by cargoes diverted from the Suez Canal because of attacks on Red Sea shipping by the Houthi militant group in Yemen.

But the port outage could contribute to a shift of container traffic to West Coast U.S. ports that was already underway over the past several months because of the lack Asian shippers’ access to the Suez route and reduced capacity in the Panama Canal due to low water levels. Peterson said the potential for an East Coast longshoreman strike in late September – at the height of Christmas-season imports – also has some shippers considering West Coast shipments.

“East Coast volumes are down and there is the ability for those ports to flex up to handle this,” Peterson said.

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By |2024-04-08T09:26:56-04:00April 8th, 2024|Categories: Articles|

What is the Corporate Transparency Act?

The Corporate Transparency Act (CTA) was enacted back in 2021, but few businesses have considered whether they’ll be impacted. Now that the law is officially in effect (as of January 1, 2024), small business owners now need to ensure compliance.

An estimated 32 million businesses will now need to report detailed information about their operations. However, in a survey of its members, the NFIB found that 90% have never heard of these new requirements. This article will outline critical information you need to know.

What is the goal of the Corporate Transparency Act?

The CTA was passed to tackle money laundering, tax fraud and other unlawful activities. Specifically, it targets “non-employer firms,” or entities that have no employees, according to Thomson Reuters. The reasoning is that many “bad actors” have concealed their ownership of corporations, LLCs and similar entities in the U.S. to cover up fraud, financing of terrorism and more.

As a result, many small business owners who have “one-person operations” will need to provide greater transparency into business operations by reporting Beneficial Ownership Information (BOI).

What is a Beneficial Ownership Information Report and who needs to file it?

Millions of small businesses will need to file a BOI Report with the U.S. Department of Treasury’s Financial Crimes Enforcement Network (FinCEN). Specifically, companies created or registered to do business before January 1, 2024, will have until New Year’s Day 2025 to file their initial BOI report, according to the FinCEN.

However, entrepreneurs who created or registered their businesses in 2024 can wait until receiving actual or public notice that their creation or registration is effective to file their BOI report. They will technically have 90 calendar days to file. Any company created on or after January 1, 2025, will need to file their reports within 30 calendar days of receiving actual or public notice that the business is effective.

Both domestic and foreign companies need to file, according to Thomson Reuters, with reporting companies typically including:

  • Limited liability partnerships
  • Limited liability limited partnerships
  • Business trusts
  • Most limited partnerships created by filing with a secretary of state or similar office.

Companies stared within the U.S. and required to file a BOI are called “domestic reporting companies,” while entities created in foreign markets but registered to do business in the U.S. are called “foreign reporting companies.”

Domestic reporting companies created before January 1, 2024, have to provide information about the company and its beneficial owners. Any domestic reporting company created on or after January 1, 2024, needs to provide information about the company, its beneficial owners and company applicants.

Which companies are exempt from filing a BOI report?

Exempted companies include securities issuers, domestic governmental authorities, banks, and others that don’t fall into the above categories. “Large operating companies” are also exempted from filing BOI reports, according to Wolters Kluwer. These are entities that:

  • Employ more than 20 full-time employees in the U.S.
  • Have an operating presence at a physical U.S. office
  • Have filed a federal income tax or information return in the U.S. for the previous year, with more than $5 million in gross receipts or sales

What information needs to be reported?

Primary company details:

  • Full legal name
  • Any trade or “doing business as” names
  • Current street address of principal place of business
  • Jurisdiction of formation
  • Taxpayer identification number

Beneficial owner and company applicant details:

  • Full legal name
  • Date of birth
  • Current residential street address
  • Unique identifying number and the issuing jurisdiction from a current U.S. passport, state or local ID document, driver’s license or a foreign passport and an image of the document from which the unique identifying number was obtained

Who is a “beneficial owner” and “company applicant”?

beneficial owner is anyone who either exercises substantial control over the reporting of the company or who owns at least 25% of ownership interests. A company applicant is someone who directly files the document that creates the domestic reporting company and oversees the filing of the document. Company applicants can only be an individual who directly files the document to create the business entity — or files for the entity to do business in the U.S. The company applicant also can be the person primarily responsible for directing or controlling the filing.

Both beneficial owners and company applicants must report their information directly to FinCEN.

What happens if BOI report information is wrong or needs to be updated?

If information in a report is inaccurate, a new report must be filed within 30 calendar days. The same guidelines apply if existing information needs to be updated. For example, if a beneficial owner’s address has changed, or there has been a legal name change, the BOI report may need to be updated. It also would need to be updated if a company’s main headquarters changes.

 Where can I go for more information and support?

The U.S. Chamber of Commerce encourages small business owners to consult lawyers or tax and accounting specialists if they need help filing their BOI reports.

By |2024-04-02T13:05:01-04:00April 2nd, 2024|Categories: Articles|

Regional Sales Manager – Southeast

This role is career-defining for the resourceful & hungry sales professional ready to strategically increase the revenue of a prospering brand. Be rewarded for driving growth efforts across the Southeast region and building the future of this brand as a passionate sales expert with the freedom to operate as an entrepreneur.

Assignment: 4330
Title: Regional Sales Manager – Southeast
Industry: Frameless Cabinetry
Reports To: CEO, Owner
Location: Southeast

Our Client:

Our client is a young and expanding company positioned to scale rapidly given their consistent 100% year-over-year growth.  Nimble, and able to make the right decisions quickly, this company is bureaucracy-free, and our client’s dedicated and entrepreneurial leadership team believes in rewarding those who help them achieve their goals.

Principal Duties and Responsibilities:

  • Grow cabinet, countertops, and install revenue to meet the company’s projections and goals
  • Develop sales in Southeast Market
  • Drive and adapt go-to-market strategies in the region
  • Develop strong relationships with key accounts

Position Requirements:

  • 5+ years sales leadership in the kitchen cabinet industry (at least 3 years in multi-family)
  • Proven history of significant growth in revenue, market share, and profit margins
  • Results oriented, entrepreneurial self-starter with a desire to rapidly grow
  • Strategic thinker
  • Strong business acumen, cost-conscious

Contact:

Ben Durshimer
Research Recruiter
bdurshimer@brookechase.com
941-914-9162

By |2024-03-22T15:40:33-04:00March 19th, 2024|Categories: Current Searches|

2024 Still a strong year for Multi–Family Housing

This year, new supply is expected to surge 53% year over year

Metrics Monitor

Multifamily Supply Glut Heads Toward Steep Drop-off

In 2023, nearly 440,000 new multifamily units were delivered, according to research by Newmark. This year, new supply is expected to surge 53% year over year—and then plummet by 42% in 2025. That’s still higher than the historical average, but projected supply delivery in 2026-27 won’t recover to even recent pre-pandemic levels. And lending conditions crimped by 2023 bank failures and the ensuing financial market turmoil have made it harder for developers to secure financing for new projects. At the same time, rising material costs and labor shortages have increased construction costs, which can deter new projects as margins compress.

This increased supply has softened rents, but despite vacancy rates above pre-pandemic averages in 2024, demand will keep average occupancy above 94%, according to CBRE. With new housing starts not happening at the scale necessary to meet long-term demand, we believe that the supply gap, along with stronger rent growth generated in 2025-26, will lead to new investment opportunities.

U.S. Multifamily Supply

Source: Newmark research, RealPage

multi-family housing chart
By |2024-03-18T13:24:03-04:00March 18th, 2024|Categories: Articles|

Chief Operating Officer – Midwest

In a newly created role reporting to the owner, the COO will lead all daily operational aspects of the company, partnering with the owner in developing and implementing strategies and structures for the growth in operations and sales volume.  This dynamic leader will further develop and share vision with the team, holding them accountable to expectations for excellence which have become a hallmark of the company’s success in its market.

Assignment: 4329
Title: COO
Industry: Design Build Residential Remodeling
Reports To: Owner
Location: Upper Midwest

Our Client:

Our client is a well-established, highly regarded, and profitable high-end custom residential design build remodeler with tremendous growth potential, and ownership that is committed to investing in the future, with plans for a larger operations and showroom facility and the goal of doubling in size over the next three to five years.

Principal Duties and Responsibilities:

  • Daily operational leadership to include:
  • Project Management and Field Ops
  • Sales and Estimation
  • Scheduling
  • Design
  • Administration – Finance, HR, Legal, permitting/Compliance
  • Supply Chain

Position Requirements:

  • 7+ years Building/construction experience, high-end residential 3+ years
  • Project Management leadership
  • Experience with and understanding of bid, costing, estimation
  • Track record of profitable operational growth
  • Interaction with and leadership of sales and design
  • Experience with a $15M+ company at the leadership level
  • Construction P&L experience
  • Highly organized and attention to detail
  • Excellent communication skills both internally and with customers and vendors
  • Customer focused
  • Integrity

Contact:

Veronica Salas
Research Recruiter
vsalas@brookechase.com
941-263-3680

By |2024-03-12T11:26:04-04:00March 12th, 2024|Categories: Current Searches|

US Homebuilders Say Things Are Looking Up for ‘24

IWF Logo

By: Warren Shoulberg

The construction industry still has a long way to go to get back to its boom days but new data suggests builders are getting more optimistic.

Increasing consumer demand coupled with small drops in mortgage rates are all pointing in the same direction for US homebuilders: Up.

New statistics from the National Association of Home Builders (NAHB)/Wells Fargo survey released for January show sentiment for homebuilders climbed by the most it has in nearly a year. The gauge jumped seven points, the association said. “Lower interest rates improved housing affordability conditions this past month, bringing some buyers back into the market after being sidelined in the fall,” NAHB chair Alicia Huey said in a statement. “Single-family starts are expected to grow in 2024, adding much-needed inventory to the market.”

Mortgage rates remain at elevated levels, but they are starting to recede from their October 2023 peak of nearly 8% and in some cases are down to near 7%. The group sees expected housing sales increasing by 12 percentage points, the most since mid-2020 when the pandemic first took hold of the U.S. economy. Even with the rise the index is still below pre-pandemic levels.

Bloomberg, in reporting these numbers, said some builders are cutting back on price cuts. While 31% of builders surveyed said they were lowering prices, that was the lowest share since last summer. The average cut was 6%, consistent with previous months. Builders were most optimistic in the South and West as buyer traffic rose to four-month highs across the nation.

By |2024-03-05T15:12:27-05:00February 26th, 2024|Categories: Articles|

Vice President of Sales – Northeast

This goal -driven and dynamic Vice President of Sales will have the opportunity to led and develop a strong Outside Sales team with five Inside Sales Support Associates in growing the company’s presence in the market.  Combining strategic thinking and entrepreneurial passion, this Vice President will facilitate sustainable growth and continue the company’s long-standing history as the premier supplier of Plumbing and HVAC products in its markets.  This is a career-defining opportunity for a passionate team leader that will have a voice of direction in an ambitious, growing organization with deep roots.  To include an equity grant and annual bonus opportunity.

Assignment: 4327
Title: Vice President of Sales
Industry: Plumbing and HVAC
Reports To: President
Location: Northeast

Our Client:

Our client is a well-established and growing New England-based distributor of Plumbing and HVAC products.  Through their value-oriented culture, robust product offering, and peerless dedication, this multi-branch, multi-state company has formed a tremendous foundation with Associates and customers alike.  With a desire to add additional branch locations annually and to make acquisitions, the company is well capitalized, profitable, and positioned for further growth.  Given their strong positioning, our client is in search of a sales leader that will see the company’s goals to fruition.

Principal Duties and Responsibilities:

  • Lead the sales team to company’s determined growth target
  • Participate in the planning for sales forecasting and market growth
  • Build strong relationships with key accounts and resolve any issues as they arise
  • Assess current sales team to identify areas for improvement
  • Retain, recruit, hire, and train new hires
  • Develop sales training
  • Set team goals and track metrics
  • Stay current with market trends, changes, and competitors
  • Collaborate with the marketing team

Position Requirements:

  • Plumbing and HVAC wholesale sales experience
  • Outside sales team leadership experience (10 or more at once)
  • Multi territory and location management experience
  • Demonstrated sales and EBITDA growth
  • Highly entrepreneurial
  • Degree preferred

Contact:

Ben Durshimer
Research Recruiter
bdurshimer@brookechase.com
941-914-9162

By |2024-03-19T08:50:55-04:00January 25th, 2024|Categories: Current Searches|

Transformative Transitions: 8 Exit Archetypes Every Company Founder Must Know

small business owner
January 4, 2024 | Written By: Merilee Kern, MBA
 
In the daunting yet exhilarating journey of entrepreneurship, founders traverse various roles that evolve with their venture. Today’s thriving U.S. economy, marked by accelerated growth, is providing a favorable environment for founders to move on to the next phase of their professional life. But for those traversing the entrepreneurial world in particular, these transitions mark a time of great change — and the unknown that lies ahead can spur tremendous stress. The key is understanding how an exit will operate so that you can elegantly navigate the situation.

“Whether you are leaving corporate America to start on your own enterprise or leaving a company you’ve built from scratch to focus on the next part of your impact journey, many face the same challenges,” noted business exit strategist and coach Jerome Myers, PE, MBA, PMP. “While the circumstances of each person’s exit differs, most if not all can be summed up in a few specific exit scenarios that every founder in today’s economy faces.”

Understanding Different Exit Scenarios

While they might look, feel and function differently, there are eight quintessential exit archetypes that founders should know to perform at his or her best:

Exit 1: Exiting The Traditional Career Path

The first phase of this transformative transition is leaving a traditional corporate role or life path. This step involves wrestling with questions of purpose and ambition, and requires introspection and careful planning. The robust U.S. economic growth, represented by a 2.4% annualized GDP growth rate in the first half of 2023, provides a favorable tailwind for individuals making this transition.

This will probably feel like the biggest transition; it’s where all that you once knew is gone and everything feels foreign and new. However, founders should not try to run away from this journey; they should embrace it. And given the stats above, it may be the best time to take the leap.

Exit 2: CEO 1.0 (Chief Everything Officer)

In the next phase, founders embody the role of “CEO 1.0,” or the “Chief Everything Officer.” They are at the helm of their venture, crafting business plans, securing initial funding and birthing their entrepreneurial dream. The thriving economic conditions, marked by increased consumer and government spending, and a rise in business inventory investment, further fuel growth potential at this stage.

This is the beginning of your next journey and what you hope to accomplish. It is here where you visualize your dreams and begin to make them a reality. It’s time to embrace the unknown and make it seen.

Exit 3: Product Manager and Thought Leader

Founders then transition into a dual role of Product Manager and Thought Leader, intertwining strategic product management and thought leadership. They refine their business’s value proposition and engage with customers, while publicly sharing unique insights and ideas. This role is critical in a growth-oriented economy, helping shape public opinion and add credibility to their venture. This is when your company starts to grow in the public eye, which ultimately leads to scale and widened adoption of the company’s solution.

Exit 4: CEO 2.0 (Chief Executive Officer)

Upon establishing their business, founders assume the “CEO 2.0” role, overseeing the bigger picture, managing the team and setting strategic direction. The presence of a solid jobs market, as evidenced by the addition of 209,000 jobs in June 2023, aids in attracting talent and scaling operations during this phase.

Exit 5: Board Chair

As a board chair, founders step back from daily operations to guide the company’s strategic direction, ensure its financial health and focus on stakeholder relationships. The rise in personal savings recorded in the second quarter provides financial flexibility for strategic growth and succession planning.

Exit 6: Exit

The “Exit” phase involves founders selling their business or stepping down from their operational role. In the current economic environment, with recession fears diminishing due to falling inflation and a robust jobs market, this phase has the potential to offer significant financial returns.

Exit 7: Building Your Post-Exit Portfolio

Post-exit, founders diversify their wealth by building an investment portfolio. The recent interest rate hike by the Federal Reserve, aiming to curb inflation, provides a favorable environment for investment in real estate, stocks, bonds, or other startups.

Exit 8: Philanthropy and Legacy

The final phase provides founders the opportunity to leave a lasting impact by contributing to causes they deeply care about. Despite the ongoing economic recovery, the role of philanthropy remains crucial, offering founders the chance to leverage their wealth for societal betterment.

“During each of these eight exits, it’s imperative to note that the founder will experience a phenomenon that will test their mental resilience, which is known as the ‘Founder’s Exit Paradox,’” Myers said. The Founder’s Exit Paradox refers to the comprehensive psychological disengagement experienced by founders, which encompasses behavioral, emotional and cognitive aspects. This involves understanding how these processes occur before and after physical exits, and how the experience impacts the way individuals move forward.  The Exit Paradox often produces similar feelings as an existential crisis where Newly Exited Operators — or NEOs — begin to question the meaning and purpose of their life, although the trigger in this instance is due to a major accomplishment.”

The 6 Centers of Doubt

According to Myers, when a founder or NEO experiences the Exit Paradox, they will wrestle with what he calls “6 Centers of Doubt,” which are:

Self Image

Clarify your guiding principles, what’s holding you back and adopt a new outlook on life that empowers you. Founders in this stage of the Paradox will ask questions such as:

  • Who am I now that I’ve “won the game”?
  • What do I do without the hyper-focused routine I’ve had for years?
  • Do I even deserve this?

Relationships

Identify relationships that are not mutually beneficial and rebalance or eliminate them, increase access to resources and reposition yourself as a person of tremendous value. Founders who are in this stage of the Paradox will ask questions such as:

  • What are the people in my life really after?
  • Why don’t my family and friends understand I need time to figure this all out?
  • Does my marriage make sense anymore?

Work

Cultivate inspired work by finding the connection between income, influence, impact and interest.  Founders who are in this stage of the Paradox will ask questions such as:

  • What does work mean now that I have exited?
  • Were all the sacrifices I made to get here worth it?
  • What’s next?

Health

Create more energy, reduce mind fog and improve your quality of life. Founders who are in this stage of the Paradox will ask questions such as:

  • Did I give away too many years to my business?
  • Am I going to use all the wealth I built to earn back the health I lost?
  • Can I make adjustments to live with fewer health risks?

Prosperity

Improve your financial position to increase your time and location freedom. Founders who are in this stage of the Paradox will ask questions such as:

  • I can afford it. Why should I even give it a second thought?
  • Why shouldn’t I enjoy all the money I earned?
  • Who are you to give me advice about money?

Significance

Make meaningful and positive contributions outside of your home. Founders who are in this stage of the Paradox will ask questions such as:

  • If I died today, who would carry my casket?
  • Who do I trust to honor my memory after I’m gone?
  • What’s the best way for me to use my wealth to help others and do good?

“I’ve found that most people undergoing an exit transition are seeking a deeper and more meaningful state of fulfillment,” Myers noted. “They are also in a new place where they are struggling with the 6 Centers of Doubt. But, it’s not their fault. The ‘American Dream’ is all about creating financial freedom and we have been collectively programmed to chase it. All too often, when we ultimately find financial success, we realize it probably isn’t what we should have been chasing as the ultimate end-game. Many in transition desire the kind of gratification that comes with self-actualization.”

The eight exit strategies represent the cyclical journey of a founder from their initial foray into entrepreneurship, through their venture’s growth and eventual exit, to their legacy-building activities. The current economic landscape in the U.S., as characterized by its promising growth, a robust jobs market and increasing control over inflationary conditions, creates a conducive environment for a founder to flourish amid these transition strategies, highlighting his or her relevance and maximizing profitability in today’s dynamic economic scenario.

 
By |2024-01-17T12:21:47-05:00January 17th, 2024|Categories: Uncategorized|

Have Building Material Prices Peaked?

January 17, 2024 | IWF News |  Warren Shoulberg

New data from the Producer Price Index suggests that costs are coming down on things like softwood lumber as part of an overall decline in material costs.

The wild ride up in construction materials in 2023 may have peaked as the year ended and going into 2024 we could see some declines in those costs, new statistics indicate. 

An analysis of the Producer Price Index by the Associated Builders and Contractors organization shows encouraging news for builders going into the new year. “Construction input prices declined for the second straight month in November,” ABC’s chief economist Anirban Basu said in a statement. “While much of the recent decline is due to record domestic oil production and the resulting precipitous decline in gas and diesel prices, other commodities like iron and steel and lumber products are currently more affordable than they were at the same time last year.”

Softwood lumber prices dropped by almost 6% in November and have declined by nearly 20% versus the same period a year ago. Construction input prices overall decreased 0.3% in November.

Prices of materials going forward, according to Basu in the statement, are equally as encouraging. “This is a welcome development for an industry still dealing with extraordinarily elevated financing costs and rising labor costs due to ongoing worker shortages.”

By |2024-03-05T15:11:54-05:00January 17th, 2024|Categories: Articles|
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