On February 6, 2023, a 7.8-magnitude earthquake struck Turkey and Syria. The earthquake and subsequent aftershocks have resulted in over 22,000 deaths to date and left countless others without shelter, food and basic necessities in cold winter conditions. As a leading emergency response organization, the International Rescue Committee (IRC) will be assisting with recovery in […]
CSX Reaches Agreement with IAM and NCFO on Paid Sick Leave for Railroad Workers
CSX today announced that it has reached an agreement with two additional railroad unions to provide paid sick leave to its employees. The agreements were reached with the International Association of Machinists and Aerospace Workers (IAM), which represents railroad machinists, and the National Conference of Firemen and Oilers (NCFO), which represents the company’s utility workers. The […]
NAHB: OMB Proposes Standards on Building Materials Made in America
The Office of Management and Budget (“OMB”) has proposed new standards to determine if construction materials for federally funded infrastructure projects are made in the USA. The new guidance, required by the Infrastructure Investment and Jobs Act—also known as the Bipartisan Infrastructure Law (“BIL”)—“sets standards to carry out the statutory requirement that all manufacturing processes for […]
Building Gurus: Hiring Top Salespeople
Within the residential building products industry, it isn’t a secret that top salespeople can make huge impacts in your company. And, it is also pretty clear that finding and hiring the best-performing salespeople can be a challenge. That isn’t to say it is impossible, but you do need to have a very narrow focus and possibly […]
Sylvamo Delivers Strong Earnings, Free Cash Flow and Shareowner Returns in First Full Year
Sylvamo (NYSE: SLVM), the world’s paper company, is releasing fourth quarter 2022 earnings. Financial Highlights – 2022 Full Year Message from the Chairman and Chief Executive Officer “I’m proud of our team and the strong earnings and free cash flow they generated in our first full year of operations,” said Jean-Michel Ribiéras. “We managed supply […]
NAR: Nearly Nine in 10 Metro Areas Posted Home Price Gains in the Fourth Quarter of 2022
Approximately nine out of 10 metro markets registered home price gains in the fourth quarter of 2022 despite mortgage rates eclipsing 7%, according to the National Association of Realtors®’ latest quarterly report. Eighteen percent of the 186 tracked metro areas registered double-digit price increases over the same time period, down from 46% in the third quarter […]
Metsä Group’s Comparable Operating Result in January–December 2022 was EUR 1,276 million
January–December 2022 (1–12/2021) October–December 2022 (10–12/2021) Events During the Fourth Quarter of 2022 Events After the Review Period Metsä Spring invested in Fiberwood, a startup developing new kinds of thermal insulation materials from the forest industry’s side streams. Metsä Tissue decided to increase its production of fresh fibre tissue paper at the Mariestad mill in […]
NAHB: Housing Affordability Hits Record Low but Turning Point Lies Ahead
Mirroring a steep rise in mortgage rates that began in the early part of 2022 and coupled with ongoing building material supply chain bottlenecks that increased construction costs, housing affordability posted three consecutive quarterly declines in 2022 and now stands at its lowest level since the National Association of Home Builders (NAHB) began tracking it […]
James Hardie Industries Announces Global Leadership Appointment
James Hardie Industries plc, the world’s #1 producer and marketer of high-performance fiber cement and fiber gypsum building solutions, today announces the appointment of Farhaj Majeed as Chief Human Resources Officer (CHRO). Farhaj will assume the role effective February 20, he will report directly to Chief Executive Officer Aaron Erter and will serve on the Executive […]
Interfor Reports Q4’22 Results
Interform Corporation (“Interfor” or the “Company”) (TSX: IFP) recorded a Net loss in Q4’22 of $72.2 million, or $1.40 per share compared to Net earnings of $3.5 million, or $0.06 per share in Q3’22 and $69.7 million, or $1.15 per share in Q4’21. Adjusted EBITDA was a loss of $68.7 million on sales of $810.3 […]