there will not be a major casegoods plant in NC within three years. Terrible problems for some communities here. If China ever has political turmoil, the entire US industry could be in trouble. There is no fall back plan once the factories are gone.
There will always be furniture on NC. Only it will be in the contract furniture end of the business. Companies such Bernhardt, American (va) and Hooker, amongst others, will continue their growth.
The problems will be more evident in the consumer / residential markets. At market you always see the same old same old. Very little innovation in residential goos. Always the more traditional furniture, minimal to no change in styles to contemporary. Their market (older folks) who prefer traditional furniture is shrinking and they are not going after the younger market.
The labor pool needs to get more motivated and they need to realize that they can no longer bank on getting a job somewhere else in furniture. Swapping jobs for an extra .50 an hour is not uncommon, turnover is high, motivation is low.
When residential dries up and fritters away to China and Canada, the cream of the crop labor in all aspects of woodworking will probably find themselves in short run production, contract furniture.
Vaughan-Bassett is a privately held stock. The rumor mill is they will be publicly traded in the near future but that has been rumored for years. I wish I could get my hand on some of their stock. I think their long term potential is outstanding.
Keep on thinking there will be no major casegood plants in NC in 3 years. I'll bet the house that Vaughan-Bassett will be there. People often overlook Vaughan-Bassett. John will compete with the Chinese, Vietnamese, and anyone else. If China get's it in the ditch, VB will be a gold mine of a stock.