Content about Bloomberg

July 3, 2014

In February, a company called SawStop filed an antitrust lawsuit against four major toolmakers, claiming they had conspired against SawStop founder Stephen Gass in blocking the standardization of his injury-prevention technology.

April 4, 2014

The U.S. economy added 192,000 jobs in March, which wasn't enough to offset last month's 6.7% unemployment rate. However, at an upwardly revised figure of 197,000, February pulled in more jobs than initially estimated.

According to Bloomberg, March's figure has pushed private employment past the pre-recession peak for the first time.

January 10, 2014

Samsung has set its sights on a fairly ambitious goal: to become the world's largest appliance manufacturer by 2015.

According to Bloomberg Businessweek, Samsung has some pretty formidable competition here in the U.S., including current leader Whirlpool. However, it's the fast-growing appliance brand in the country, managing to jump from 2.3% market share to 10.5% over the last five years.

October 2, 2013

At Bloomberg News’ offices in New York City and Washington, D.C., well-stocked food stations are a staple: Cereals, granola bars, hot chocolate, cookies, candy, soups, nuts, juices, vegetables and fruit are just some of the free offerings for the company’s many thousands of employees.

During orientation new hires are told that the stations are designed to encourage camaraderie and idea swapping. That’s the upside.

July 16, 2013

Bloomberg is reporting that Orchard Supply Hardware Stores Corp. received bankruptcy court approval for $176.3 million in financing. 

The debtor-in-possession loan will fund operations at some 60 Orchard Supply Stores, as the California chain awaits finalization of an acquisition offer put forth by Mooresville, N.C.-based Lowe’s. 

June 28, 2013

Hertz is placing itself in direct competition with automated car-rental services like Zipcar this summer, a move that could have an impact on parking lots of home centers.

According to Bloomberg, Hertz is partnering with Lowe's and Walgreens (among others) in order to expand its presence via kiosks in place of having to buy additional property.

June 24, 2013

RONA, Canada's largest hardware retailer and distributor, is selling its Commercial and Professional Market division to Talisker Plumbing Corp., a subsidiary of Emco Corp., for an expected net cash consideration of $215 million after fees and transaction expenses.

According to Bloomberg, the sale will primarily help RONA pay down debt and free up capital to focus in on its retail operations.

June 19, 2013

Following its asset acquisition deal with Lowe's, Orchard Supply Hardware is moving forward with its effort to close underperforming stores and has won approval to seek bids from liquidators to hold going-out-of-business sales.

June 10, 2013

Orchard Supply Hardware, the historic California brand that has strived to strike a happy medium between big-box home center and friendly neighborhood hardware store, is considering a bankruptcy option, according to a report in Bloomberg News.

The report also says the California hardware chain is continuing talks with lenders over its $261 million debt and lease obligations. 

January 22, 2013

A Monday report by Bloomberg said that IKEA has received the go-ahead from the Indian government to open outlets in the country, making it perhaps the first major foreign retailer to set up its own stores in the region.

October 30, 2012

A Monday report by the Commerce Deptartment showed that consumer spending in the U.S. for September rose more than forecast as household incomes climbed.

Household purchases increased 0.8%, the most since February and topping the 0.6% gain expected by Bloomberg. The September rise followed a 0.5% advance in August. 

Incomes rose 0.4%, the most since March.

The economy expanded at a 2% annual pace in the third quarter, boosted by the uptick in household purchases.

October 15, 2012

A report released Monday by the Commerce Department showed that retail sales in the U.S. climbed more than anticipated in September, boosted by unexpected increases in household spending.

Sales advanced 1.1% in September, on the heels on a 1.2% increase in August that was the biggest since October 2010. The median forecast of 77 economists surveyed by Bloomberg called for a 0.8% rise in September.

August 23, 2012

Union Pacific Corp. is pulling rail cars from storage for the first time in four years to haul lumber for home builders, according to a Bloomberg report.

The Association of American Railroads (AAR) reported that North American rail carloads of lumber and wood products have risen 10% through the end of July when compared with the same period in 2011.

June 26, 2012

The Black Keys, a popular alternative rock group, is suing both Home Depot and Pizza Hut for allegedly using parts of the band’s songs during TV commercials, Bloomberg News reported.

May 31, 2012

Two of the nation’s largest residential home builders are entering a joint venture to develop a sprawling Southern California subdivision, according to an article in Bloomberg News.

January 27, 2012

The PayPal pilot at Home Depot stores is rapidly expanding, going from 51 test locations in the San Francisco Bay Area this week to all 2,000 Home Depot stores by the end of March, according to Bloomberg News.

PayPal director of communications Anuj Nayar told Bloomberg the digital commerce company will extend the trial to 20 additional retail partners by the end of 2012.

November 1, 2011

A report released Friday by Thomson Reuters and the University of Michigan found that consumer confidence in the United States rose unexpectedly in October, a signal that an economic recovery process may still be intact.

The Thomson Reuters/University of Michigan final index of consumer sentiment climbed to 60.9 from 59.4 in September, beating Bloomberg News economists’ projections of a drop to 58.

The preliminary reading for the month was 57.5.

August 1, 2011

Green features around the house are an increasingly important part of a home sale in a buyer's market, according to Bloomberg report.

While the housing slump enters its sixth year, builders in Texas and California are explaining the benefits of environmentally friendly features that can add appeal to new construction.

March 10, 2011

“In the Bloomberg Business Week cover story (‘USA Inc.: Red, White, and Very Blue,’ Feb. 24), I read with interest Mary Meeker’s ideas on ‘America as a corporation’ and ‘We The People as its shareholders.’ She takes a long-range approach for the U.S.

January 25, 2011

Mooresville, N.C.-based Lowe's is making a big shift in its in-store work force, favoring part-timers over middle managers.

The move will cut about 1,700 middle management jobs in the stores, but will lead to an additional 8,000 to 10,000 part-time workers, according to Chris Ahearn, Lowe's VP public relations. The shakeup is expected to take effect Jan. 29.

December 10, 2010

A new study posted from product information company The Ecology Center indicates four out of five popular brands of Christmas lights contain lead, with 54% having greater levels than permitted in children’s products, according to Bloomberg News.  

October 31, 2010

Take the L train to Morgan Street station in Brooklyn, walk down the hill a...

October 14, 2010

Irvine, Calif.-based Consolidated Horticulture group, a major nursery supplier to Home Depot, Lowe’s and Walmart,...

September 8, 2008

A California bankruptcy court judge has set a Sept. 10 auction date for the assets...

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