MEMBER ANNOUNCEMENTS
Remembering WMA Member – James Stephens
Bentley Sales – Manufacturers Representatives
World Millwork Alliance sadly expresses the loss of James Stephens, who died peacefully at his home on Sunday morning, May 1, 2016, with his family by his side. Jim is survived by his wife Karen and his daughter Dawn. Jim was the President of Bentley Sales – Manufacturers Representatives located in Oshkosh, Wisconsin. Jim’s career began in a retail lumber yard in 1972 on Cape Cod. Since that time, Jim experienced wholesale distribution, manufacturing and incorporated Bentley Sales in May of 1999. Jim took personal pride in the team he assembled. Jim founded the company based on his personal philosophy, which transcends throughout the sales organization… “Credibility, Integrity, and a Strong Work Ethic”. Jim believed his philosophy to be the cornerstone of any successful agency. Bentley Sales was founded in 1998. Jim joined WMA that same year supporting the association and the millwork industry. Bentley Sales has continued to be an active WMA member for the past 18 years.
Jim will be truly missed by his family, friends and the millwork industry. Our deepest condolences to the Stephens family.
Click Here for services and visitation at Meuller Funeral home.
R.S.L., Inc. Announces Newest Sales Group
RSL is proud to announce the addition of our newest sales group, Marketing West, covering Washington, Oregon, Alaska, Idaho, Montana and Northern Wyoming.
For more information please visit click here.
Huttig Building Products, Inc.
Announces First Quarter 2016 Results
Huttig Building Products, Inc., a leading domestic distributor of millwork, building materials and wood products, today reported financial results for the first quarter ended March 31, 2016.
Read more at Huttig Building Products
WMA ASSOCIATION NEWS
Ron Taylor Award Nominations Being Accepted
World Millwork Alliance is seeking nominations for the 2016 Ron Taylor Award (RTA). Do you know a WMA member who gives freely without reservation, has had a positive effect on others and contributes above and beyond; who is supportive and has been active in the World Millwork Alliance and their community? Why not recognize that individual by nominating them for the RTA? Nominate a WMA Member.
GOVERNMENT & LEGISLATIVE NEWS
NAW Update on Overtime Regulations
As we reported last month, the Department of Labor (DoL) is moving forward with its proposed changes to the Wage & Hour Division’s Fair Labor Standards Act (FLSA) overtime regulations. In mid-March the Department sent its draft of a final rule to the Office of Management and Budget’s (OMB) Office of Information and Regulatory Affairs (OIRA) for their required review. This was the next step toward promulgation of a final rule.
DOL’s Revised Overtime Salary
Threshold Hike Unacceptable Says NAHB
NAHBNow reports that the U.S. Department of Labor (DOL) is considering reducing the cap on the pending overtime salary threshold rate hike from $50,440 to $47,000. This is still a 99% increase from the current overtime salary limit of $23,660.
Read More at NAHB
HOUSING INDUSTRY
Multifamily Spending Continues Record Breaking Pace
March multifamily residential construction spending had significant gains from one year ago.
Read more at NAHB Eye On Housing
Larger Remodeling Projects Trending Up in 2016
According to NAHB Survey
Whole house remodels and additions are regaining market share according to a survey of remodelers released by NAHB Remodelers, the remodeling arm of the National Association of Home Builders (NAHB). The survey, released today to kick off National Home Remodeling Month in May, revealed the most common remodeling projects in 2016, compared to historical results of the survey.
Read more at NAHB
Millennials locked out of Denver area
Lack of savings prevents Millennials from owning a home
Can you imagine saving for 38 years to buy your first home? It seems absurd, yet at the rate many Millennials are saving in Boulder County, that’s how long it would take to put a 20% down payment on a home in the area, according to an article by Shay Castle for The Denver Post.
Read more at HOUSINGWIRE
Publics on Parade: Builder 100
The public capital structure
proves itself in the stress-test of early recovery.
Twenty-three publicly traded home building companies face the challenge firms in every other sector, hot or not, deal with in today’s economy. The challenge is a dual imperative: grow and generate income. Simple. And as Ronald Reagan has said, “There are simple answers, just not easy ones.”
Read more at BUILDER
Why are major housing markets going haywire?
Hot markets slowing down, slow ones speeding up
Whereas some of the hottest markets would appear to be slowing down, some of the markets seem slow to recover may be heating up, according to Trulia’s Fastest Moving Markets Report.
Read more at HOUSINGWIRE
Eye on the Economy: Lackluster GDP Growth at the Start of 2016
The initial estimate of GDP growth for the first quarter of 2016 was weaker than most economists expected, coming in at an anemic 0.5% annual rate, according to the Bureau of Economic Analysis. Economic growth has been steadily softening since the second quarter of 2015, when it topped out at a 3.5% pace. Factors holding back growth at the start of 2016 include slowing personal consumption expenditures and falling exports.
Read more at NAHB Eye On Housing
Builder 100: The Top 25 Private Companies
As the housing industry continued its strong push in 2015, many builders across the country posted record-high closings and year-over-year growth. While more money was understandably invested and earned on the public side of the business, the 78 private builders in the Builder 100 closed more than 73,000 homes in 2015.
Read more at BUILDER
CODES & STANDARDS NEWS
ANSI Energy Efficiency Standardization Coordination Collaborative (EESCC) Releases Roadmap Progress Report
The American National Standards Institute (ANSI) Energy Efficiency Standardization Coordination Collaborative (EESCC) announced today the publication of a Progress Report detailing the standardization community’s activity to advance recommendations outlined in the EESCC’s Standardization Roadmap: Energy Efficiency in the Built Environment. Published in June 2014 to serve as a national framework for action and coordination, the roadmap identified gaps where standards and codes were needed to improve energy and water efficiency in the built environment.
Read More at ANSI
April Showers Bring May Flowers… For the Most Part
Codes and Standards Update
WMA’s director of codes and standards, Jessica Ferris, is back into the swing of things after having gone through a chockablock month of codes and standards development. Representing WMA, her advocacy efforts and participation in April include a meeting at NFRC, the Florida Building Commission Technical Advisory Committee Meeting; and the ICC Committee Action Hearings. As Jessica put’s it “For those of you bold enough to delve into the intricate workings of codes and standards development, what follows is my recap of outcomes from these meetings.”
Read Jessica’s Codes & Standards Update
