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Fight Brewing For Control of Ethan Allen at Annual Meeting

Ethan Allen Chairman and CEO Farooq Kathwari has responded to a shareholder letter sent August 26 questioning the management of the company. Thomas Sandell, whose group owns 5.5% of Ethan Allen, stated in his latest letter, "sub-optimal fiscal policies and inefficient allocation of shareholder capital has resulted in the Company`s stock trading at a significant discount to its intrinsic value and has contributed to years and years of stock price underperformance." Sandell had also been upset that the annual meeting was being moved up to October 15, but then Ethan Allen moved it later to November 25.

WMS News

Technology Continues to Transform Wood Manufacturing

I am still trying to wrap my head around the innovations and new products introduced at interzum and LIGNA in May. It was impressive and to say that I can recall everything I’ve seen there without my notes would be a lie. All the more reason then to look forward to the Woodworking Machinery & Supply Conference and Expo (WMS) 2015 in Toronto this November.

Management

Tall Wood Buildings Not So Great, says Concrete Industry

Quebec Government's decision to allow the construction of taller wood buildings on the basis of a new wood industry construction guide that is not recognized by the National Building Code of Canada (NBCC) circumvents the exceptional building code approval process that exists to ensure the safety of all Canadians, says the Canadian Precast/Prestressed Concrete Institute.

Furniture

Residential Furniture Orders Are Steadily Rising

New orders in June 2015 increased 10 percent over July 2014 orders and were down from May 2015, according to the latest survey of manufacturers and distributors by High Point accounting and consulting firm Smith Leonard. In June 2014, Smith Leonard noted that there was a 5 percent increase in new orders over the previous year.

Canadian News

Gingrich Woodcraft Union Negotiations Hit Impasse

Gingrich Woodcraft and the Unifor union failed to negotiate a settlement during a meeting at the Ontatio Labor Relations Board on August 24. Citing Mennonite beliefs, the wood Devlin, Ontario components manufacturer's owner, Leon Gingrich, closed August 17 after workers voted to unionize on August 12.

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