You are a very animated character. I would not waste my time conducting any of you opening questions. If you challenge my choice of words, try cleaning up yours. Profanity is for ignorant people which I don't think you are. If you are animate about the politics of trade, please understand that the US furniture mfg. sector has lost close to 46,000 jobs within the past 5 years. This election year will be about jobs. More and more Americans are getting tired of having plants closed in the small towns of rural America. There is a growing concern about the loss of the manufacturing sector period. American citizens are fed up with losing their jobs to China when China peggs its currency to the dollar and has breached basically every condition of their entry to the WTO.
Regarding duties, the coalition supports free but fair trade. They are not looking for protectionism from the Gov't; only a level playing field. And get over the BUSH issue.
1. The anti-dumping issue goes before the US Dept of Commerce and the International Trade Commission. This is a sequencial process that is mandated by law to conclude in 11 months. It does not require not presidential signature. Regarding the steel case, do your homework. Duties were imposed under safeguarding procedures. This is anti-dumping - a totally different legal proceeding.
2. The furniture case is the largest anti-dumping case in the history of this country. The entire manufacturing sector is watching this case to model their actions.
3. There are a number of manufacturers who compete with China head to head on cost today. Plus American mfgs. build better quality, provide superior customer service, and help the retailers manage thier inventories better with quick delivery. You shoud appreciate this as I assume you are a CPA. Hooker is in this elite class. Many companies have taken the high road to imports because they have not reinvested in their facilities or their people. Hooker is not one of these companies.
4. Name an industry that the US has completely lost. My friend, FURNITURE WILL NOT LEAVE THE US. Regarding wages, I would bet that CPA's in China make less than CPA's in the US. China is a communist society. They have not human rights how can you expect them to have employee rights.
5. What about the Hoover damn. Who cares what China has with infrastructure. It still takes 17 weeks to get their goods here. Furniture is not like textiles, you cannot pack a million on a airplane today and have it land tomorrow.
Good luck. This is called knocking out baby teeth.
"violently"? You going to burn my house down? Shoot my dog? Torch my pickup truck? Or nuke China? I recommend the latter. That's about the only thing that will stop the elimination of furniture manufacturing in the U.S.
There will be no duites. Bush will absolutely not stand in the way of free trade. Watch and learn.
EACH year there are more people in China moving from rural to urban areas looking for work then there are TOTAL people employed on manufacturing floors in the US. I repeat again, EACH YEAR. Unemployment is rampant in China. Wages are a couple bucks A DAY, no benefits. There is no way in hell we can compete.
In 2006, the Three Georges damn will open in China. This damn will open the interior of the country to international trade. Massive ocean transport ships will be able to make their way into China's interior. An additional 300 to 400 million people will be able to make product that can easily be shipped throughout the world.
The days are numbered for the manufacturing of furniture in the US. Hooker has nothing but US manufacturing facilities. Hooker is SCREWED.
Look out your window. There are flying pigs out there.
Son, you're wrong. And today's stock action is confirmation. And BTW - those US laws to which you refer, which laws would those be? The law of the jungle? Last I looked, the WTO was not a US organization. Did we conquer WTO when we took on Iraq? Maybe I was snoozing when it happened.
The decision is not up to Bush. Bull
The key issue is this industry is in it's infant stage of having production ENTIRELY shifted to China and other low cost locations. Something like 10 to 20% of furniture sales are imports. Within a few years it will be over 50%, quickly moving to 80+%. The US facilites will soon all be closed up and written off. Given that HOFT is primarily US based, the write off's going to nail this stock in the short term.
Like the furniture made at HOFT?
Consumer confidence falling per this morning's report. Jobs not coming back. Debt levels reaching all time highs. Retailers pushing back on the HOFT's of the world begging for import protection. Furniture industry players reporting poor results left and right.
Warped, or prescient?
We'll know soon.