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CHHMA NEWS

CHHMA - EYE ON OUR INDUSTRY
Volume 11, Issue 10, March 10, 2011



Association News

2011 Spring Conference & AGM: "Boom, Bust & Bounce Back"
 
In addition to four keynote speaker presentations, this year's Spring Conference & AGM offers two sets of break-out sessions that cover a variety of topics for you and your colleagues to choose from.  Read More >>


Industry News

CHHMA President Tells Globe & Mail That Retailers Must Take All Costs into Account  

The rising Canadian dollar has touched off yet another heated battle between Sears Canada and its suppliers according to an article in last Saturday's Globe & Mail. In talking to retailing reporter Marina Strauss for the article, CHHMA President Vaughn Crofford stressed the importance of retailers taking into account all costs, "The frustration for the vendors is that they have other costs that are going up and they're eating that in most cases."  Read More >>
   
Home Depot Canada Names New President  
 

Last Friday, Bill Lennie was named president of The Home Depot Canada, replacing Aaron Carmack who is taking an extended leave of absence to attend to a personal illness. According to the company, Carmack will assume a different leadership role within the organization when he returns.  Read More >> 
  

Economic News


Housing Starts Rise 6.5% in February

The Canada Mortgage and Housing Corp. (CMHC) reported on Tuesday that the seasonally adjusted annual rate of housing starts was 181,900 units in February. This is up 6.5% from 170,600 units in January. The rise was due primarily to increased activity in multi-family starts in Ontario and the Prairies.  Read More >>


Building Permits Fall 5.1% in January

The value of building permits fell unexpectedly in January, as both residential and non-residential activity weakened, Statistics Canada said on Monday. Lower construction intentions, particularly for the residential sector in Ontario and the non-residential sector in Alberta and B.C., were behind the decline.  Read More >>


BMO Report: Home Prices Nearing Bubble Territory but Expected to Cool Off

Canada's hot housing market should cool down somewhat this year according to a report from BMO Capital Markets, which says the kind of correction some observers have been warning about is unlikely, though not impossible, given the right circumstances.  The question of a correction comes down to whether increases in household incomes can keep up with rising home prices. If prices outpace increases, the bank says a correction would be inevitable. However, there should be no major correction if incomes increase faster than home prices in the future, as expected.  Read More >>
  
Underwater Mortgages Rise in the U.S. 

The number of Americans who owe more on their mortgages than their homes are worth rose at the end of 2010, preventing many people from selling their homes in an already weak U.S. housing market.  CoreLogic reported on Tuesday that about 11.1 million U.S. households, or 23.1% of all mortgaged homes, were underwater in the fourth quarter of 2010. That's up from 22.5%, or 10.8 million households, in the third quarter.  Read More >>
   
U.S. February Job Growth Picks Up

U.S. employers hired more workers in February than in any month since last May and the unemployment rate fell to a new two-year low, raising hopes the U.S. economic recovery has become self-sustaining.  The Labor Department reported last Friday that nonfarm payrolls increased 192,000 in February and the unemployment rate dipped to 8.9%, the lowest since April 2009, and down from 9.0% in January.  Read More >>
  

 CHHMA Events For 2011

Spring Conference & Annual General Meeting
Tuesday, April 5
International Centre, Mississauga, Ontario

Maple Leaf Night
Tuesday, May 10
The Mirage Hotel & Casino, Las Vegas, Nevada

Quebec Golf Tournament
Tuesday, May 17
Le Fontainebleau Golf Club, Blainville, Quebec

Ontario Golf Tournament
Wednesday, May 25
Angus Glen Golf Club, Markham, Ontario

Night at the Races
Wednesday, June 15
Woodbine Racetrack, Toronto, Ontario

Industry Memorial Golf Classic
Tuesday, September 27
Blue Springs Golf Club, Acton, Ontario

To register for all events visit our website at www.chhma.ca or call Pam Winter at (416) 282-0022 ext.21.

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"Eye On Our Industry" is published by the CHHMA as an information resource for our members. Member input regarding content and format is welcomed. Please contact Michael Jorgenson by email: mjorgenson@chhma.ca, or call at (416) 282-0022, ext. 34. CHHMA is located at 1335 Morningside Ave., Suite 101, Scarborough, ON, M1B 5M4 www.chhma.ca

Canadian Hardware & Housewares Manufacturers Association | 1335 Morningside Ave., Suite 101, Scarborough, ON M1B 5M4
Telephone: (416) 282-0022   Email: pwinter@chhma.ca