If Memorial Day is the unofficial start of summer, then Labor Day is the unofficial kickoff to fall. The kids are back at school, the college and pro football season is upon us and the dreaded election is just around the corner. With that, here are some thoughts with two-thirds of the year already in the rear-view mirror.
I know this hasn’t been a great year for business, but Dixie and Mohawk posted very nice second quarters. And Mohawk’s stock price closed higher at the end of August than it had at any point since January 2022. They both must be doing something right… I read that there is a proposal out there by one of the political parties to tax unrealized capital gains. Does that mean if my portfolio declines I can write off the loss? Because you can bet your bottom dollar I will… Someday I will look back on my career in the flooring industry and realize my sit-downs with Bob Shaw were among the biggest highlights.
So I’ve been thinking this for a while: Most manufacturers are focused on improving the performance of their products. Today Dalton is churning out the best quality carpet they ever have. Thus, the replacement cycle no longer needs to be seven years. Carpet lasts so much longer. So the purchase often becomes a function of want rather than need. At the same time, back in the early 2000s we saw more ceramic tile and hardwood being installed as those products became more affordable to the masses. Those products come with a certain permanence. Has all this had a negative impact on residential replacement? Asking for a friend.
I know I’m probably beating a dead horse, but this is the absolute last call for the FCIF Gala in New York on Oct. 5. It will be a magical evening while supporting a good cause. At the same time, three special people are being honored: Roger Marcus, Sy Cohen and Dan Frierson. Combined they have about 180 years making a difference in this industry. Visit fcif.org/gala to register… Speaking of good causes, it’s less than a month until I join Mohawk and walk 20 miles in the Susan G. Komen 3-Day. I’m up to eight miles in my training. My plan is to walk 10, take a break, walk three, then cocktail, walk three, then cocktail, walk four and collapse. If anyone has any tips for preventing blisters, send them my way.
Visited Wellmade’s sprawling facility in Cartersville a few weeks ago. The SPC pioneers recently doubled capacity, meaning they are taking on new customers for the first time since they opened for business in February 2022. Those seeking domestic production have a window that is sure to close relatively fast… Is it me, or are all these political commercials getting more brutal every year. I can’t turn on my TV anymore… Talk to any company, and they will tell you the strength is at the high end right now. I’ve always said that interest rates and inflation have less of an impact on the wealthier consumers. But when the stock market nosedives…
Less than five months until Surfaces. Now is when you should mentally commit to attending the industry’s most important event, even if you belong to a group… Speaking of which, we will be expanding our Best of Surfaces contest next year to include more categories. If you are interested in judging, let me know… Thinking about January, 2025 is an “every other year” for the Shaw Flooring Network convention, where more than 2,000 people descend on Orlando. Leadership tells me to expect big things… Please don’t raise my corporate tax to 28%. It will put me in a bad mood.
