Friday, August 28, 2015

Looking Forward to Happiness and Prosperity

 
It has been said that happiness depends on satisfying three key elements: having someone to love, something to do and something to look forward to. This can be examined further and applied to specific portions of our lives rather than the whole. Success in business comes much easier when you are leading a happy life, achieved through having met all three of the above conditions, but they can also be used to guide your mission and business plan.
 
Having someone to love must always fit into the background when it comes to business, but it can be of help to have him or her beside you during trying times, especially when starting a new enterprise. If you want to take this to the extreme level, the person you love may become a vital part of the business, and it is important to have someone close to you that you can trust at all levels. Certainly family businesses are not uncommon in the countertop industry.
 
In finding personal happiness, we all need something to do, which may be having some sort of work, job or hobby we enjoy doing. For many of us, that would be our work. While some people see their business solely as a way to make a living, the most successful fabricators are those who truly enjoy what they are doing. Completing large projects or overcoming seemingly insurmountable obstacles can give you a sense of pride and accomplishment that leads to personal fulfillment and happiness. The work gives a sense of purpose to what many people may see as a meaningless existence.
 
The final, and arguably most important, of relating the three prerequisites for happiness to business is having something to look forward to. You have to admit that when you are simply trying to keep your head above water, the work can become monotonous and grueling, even if it is what you enjoy doing. However, when the sailing is smooth, you should have a point on the horizon that you know you will reach in a given amount of time.
 
For some of us, this means expansion. We can look forward to expanding our business because it opens the doors to greater opportunities and greater success. For those who have already been in the business for a great deal of their adult lives, the objective they are trying to reach is retirement. It is a great motivator to look forward to a time when all the work finally allows us a chance to relax and enjoy other aspects of life.
 
At CountertopResource.com, we believe that retirement would be nice, but it is a little too early to consider the prospect, so our efforts are focused on expansion. We have been blessed with a successful business, a team of like-minded individuals who give everything to their work and clients who are great to work with. However, we believe we can do more for the countertop fabrication industry, so be on the lookout for more exciting opportunities from us before the year is up.
 
How does your work bring you happiness? We always look forward to hearing your stories, so drop us line at info@countertopresource.com. See you all next month.
 
Sincerely,
 
Brian Jones, Editor/Content Manager
info@countertopresource.com

Monday, August 24, 2015

Has Caesarstone Caused its Own Misfortune by Ignoring Fabricators?

Caesarstone, founded in 1987, is based in Israel and has a large U.S. division headquartered in Van Nuys, Calif. It is known as one of the pioneers of quartz surfacing because of the patented Bretonstone process. It is the only publicly-traded stock for a company exclusively dealing in quartz surfacing. Its stock is traded on the NASDAQ as Caesarstone Sdot-Yam Ltd. (CSTE). After its stock plummeted by more than 25 percent this month, most of which occurred on two key days: August 5 and August 19, Caesarstone has been making big news in the world of finance. This has left many countertop industry professionals wondering whether the company’s business model, which practically ignores fabricators roles in the sales equation, is to blame.
In May, the company opened its first quartz surfacing manufacturing plant in the U.S. just outside of Savannah, Ga., and it includes some of the most advanced technology available for producing engineered stone, as well as a showroom/”community center” for displays, events and meetings.Overall, the last year seems to have been one of the company’s best to date. However, much of the company’s recent success is attributed to a 2013 deal in which Caesarstone partnered with Ikea US as the exclusive supplier of non-laminate countertops in its retail stores.

Second Quarter Financials Released

Caesarstone stock hit an all-time high on July 31, 2015,  when it closed at about $72 per share after remaining in the $60s range for most of the year. On Aug. 5, the company released its Q2 2015 financial statements . The stock had already dropped by more than 6 points by the time the market opened in the United States. At the end of the day it was down by more than 25 percent at 52.57 with 3.6 million shares having changed hands. The stock closed even lower at 49.59 after another heavy day of trading on August 6.
On the surface, the results of the Q2 2015 financial report do not seem too bad:
  • Revenue increased by 9.9 percent to a new high of $127.5 million.
  • S. revenue increased by 19.2 percent to $57.1 million.
  • Diluted earnings per share (EPS) rose by 27.5 percent to $0.65.
“We are pleased to report another quarter of solid financial results,” said Caesarstone CEO Yosef Shiran when the Q2 financials were released. “Each of our major markets is healthy, even with the headwinds from currency exchange rates, and continues to present significant opportunities. We look forward to capturing those opportunities to continue driving long-term growth and value for our shareholders.”
A snapshot of Caesarstone stock performance over the last 30 days

A snapshot of Caesarstone stock performance over the last 30 days. Click this image to see a larger, more readable version.

After the stock price plummeted, financial analysts pointed out that top-line results were much lower than expected. Even though revenue increased to $127.5 million, investors were expecting it to be closer to $134.2 million, and management had cut revenue guidance by $20 million to a maximum of $505 million while analysts had projected the figure to be $521.5 million. Travis Hoium of the well-known Motley Fool stock-centric media outlet explained the drop in stock price to be a result of expectations getting ahead of performance, claiming there is “nothing to panic about for long-term investors.”

Caesarstone Under Attack

Caestarstone stock remained in the low 50s for the next two weeks, but on August 19, Spruce Point Capital Management, LLC., a prominent market-research firm, issued a scathing 54-page report accusing the company of lying about the quality of its quartz countertops, manufacturing substandard products,  and propping itself up on an unstable business model.
In the report Spruce Point states its belief that Caesarstone will continue to miss its goals to grow sales by 15 percent and that rising competition in the quartz surfacing industry will make it difficult for the company to maintain its share of the market. The firm also notes that Caesarstone’s controlling shareholder has reduced its ownership from 79 percent to 32.6 percent.
Spruce Point estimated the true value of Caesarstone stock to be in the range of $15 per share, which is 79 percent lower than its July 31 high. The firm had Caesarstone quartz surfacing independently analyzed, and it claims the product contains less quartz than advertised, so rather than demanding a premium price, the company should be selling at a discount, according to Spruce Point.
Caesarstone stock plummeted again shortly after this report was released,  this time to $39.77, the lowest it has been since October 2013. It had regained a couple of points to close at $44.61 by the end of the day.

Caesarstone Issues Weak Response

Caesarstone responded to the attack the following day, stating that the Spruce Point report is misleading, includes inaccuracies and draws false conclusions.
“We stand by all of our previous public statements, regulatory filings and presentations,” said Shiran. “We are proud of the honesty and integrity with which we have operated our business and categorically reject any suggestion to the contrary.”
“We are a strong company with a powerful brand that produces high-quality and innovative products through an efficient operation and state-of-the-art infrastructure,” Shiran continued. “This has enabled us to consistently produce excellent business and financial results and we believe in the Company’s capability to continue to do so.”

Fabricators Influence Countertop Selection

We here at CountertopResource.com believe that  by limiting fabricators’ roles in its business model, Caesarstone may have pushed itself off a cliff. The company has historically relied heavily on celebrity endorsements and its exclusive contract with Ikea. While the company does work with spec reps, architects and designers, some claim it has seemed to largely ignore the fabricator.
According to the results of our 2015 CountertopResource.com Countertop Survey, the furthest reaching of its kind, our audience agrees that fabricators are influential in the decision-making process. Caesarstone’s largest competitors, Cambria, Cosentino and DuPont, all work closely with fabricators.
In our recent industry survey, that received more than 500 responses, we asked, “How much influence do you feel fabricators have over what materials their customers choose for their countertop purchases.” 
Respondents had this to say:
  • 3.4 percent said fabricators just sell customers what they ask for.
  • 14.1 percent said fabricators have a little influence over what countertop materials their customers buy but mostly just sell them what they ask for.
  • 28.9 percent said the influence of a fabricator can sometimes sway what countertop material is used.
  • 26.2 percent said the influence of a fabricator can often sway what countertop material is selected by a customer.
  • 26.5 percent said fabricators have great influence over what countertop materials a customer chooses.
  • 1 percent said customers will almost always choose the material that the fabricator suggests.
Nearly 83 percent of respondents believe that fabricators are important to the decision-making process when it comes to material selection according to these results. Our opinion as an organization joins others that believe ignoring this may be adversely affecting Caesarstone, and any other company who fails to take the role of the fabricator into account. However, it may also be something more, as we have discovered the company has an F rating with the Better Business Bureau, an organization most companies do all they can to appease.
What do you think? Let us know in the comments below, or drop me a line at info@countertopresource.com.

Thursday, August 20, 2015

Maine Countertop Companies and Fabricators

Maine: France sent explorers to Maine and established the first French colony on the St. Croix river in 1604. In 1607 England established Popham Colony along the Kennebec river.  During the French and Indian Wars, England and France fought for control of the New England area. French claims to the area ended with the Treaty of Paris in 1763. Maine became the 23rd state on March 15, 1820.
Maine has the highest percentage of forest coverage of any state and is one of the world's largest pulp-paper producers.
The people of  Maine need countertops too, and there are plenty of places to supply them! You can find a list of countertop businesses in Maine here.
This is a sneak peek at our efforts to compile the most complete list of countertop fabricators in the United States from A to Z. We will be working on Massachusetts next and hope to give you a look at that list as soon as its available. And you will find it here first.

Tuesday, August 18, 2015

Countertop Companies and Fabricators in Maryland


Maryland: The 7th state to enter the Union did so on April 28, 1788. Gen. George Washington gave the state its nickname of "Old Line State" during the Revolutionary War. Annapolis, once the capital of the U.S., was known as the Athens of America during the 17th century. The Mason-Dixon Line that marks the boundary between Maryland and Pennsylvania was named after the British surveyors who mapped it between 1763 and 1767. The Basilica of the Assumption of the Blessed Virgin Mary was the first cathedral in the U.S. and is considered a masterpiece.
The people of  Maryland need countertops too, and there are plenty of places to supply them! You can find a list of countertop businesses in Maryland here.
This is a sneak peek at our efforts to compile the most complete list of countertop fabricators in the United States from A to Z. We will be working on Maine next and hope to give you a look at that list as soon as its available. And you will find it here first.



 

Friday, August 14, 2015

Countertop Companies and Fabricators in Louisiana

Louisiana: A state known by many different nicknames; the Pelican state, the Bayou state, the Creole state and Sportsman's Paradise, to name a few.
When Sieur de la Salle reached the mouth of the Mississippi he claimed all the land drained by it and its tributaries for Louis XIV of France in 1682. It became a French crown colony in 1731 but was ceded to Spain in 1763 after the French and Indian wars. Louisiana reverted to France in 1800 and was sold by Napoleon to the U.S. in 1803 and became the 18th state to join the Union on April 30, 1812. New Orleans has been a popular tourist destination since the annual Mardi Gras celebrations began in 1838.
As we approach the 10th anniversary of Hurricane Katrina (Aug. 29), 81% of homes that were damaged or destroyed have be rebuilt but there is still much work to be done.

The people of  Louisiana still need countertops too, and there are plenty of places to supply them! You can find a list of countertop businesses in Louisiana here.

This is a sneak peek at our efforts to compile the most complete list of countertop fabricators in the United States from A to Z. We will be working on Maryland next and hope to give you a look at that list as soon as its available. And you will find it here first.

Tuesday, August 11, 2015

Countertop Businesses and Fabricators in Kentucky

Kentucky: The Bluegrass State entered the Union on June 1, 1792 to become the 15th state.
In the springtime, bluish-purple buds appear on the grass that when seen in a large field give a rich blue cast to the grass. Early traders began asking for the seeds of the "blue grass from Kentucky".

The public saw an electric light for the first time in Louisville when Thomas Edison introduced his incandescent light bulb at the Southern Exposition in 1883.

Prototypes of both the Brooklyn Bridge and the Golden Gate Bridge can be found in Northern Kentucky. The Robeling Suspension Bridge in Covington is the scale model of the Brooklyn Bridge; the Simon Kenton Memorial Bridge, the model of the Golden Gate Bridge, was built across the Ohio River in Maysville.

Middlesboro, Kentucky is the only U.S. city built within a meteor crater!

People in Kentucky need countertops too, and there are plenty of places to supply them! You can find a list of countertop businesses in Kentucky here.

This is a sneak peek at our efforts to compile the most complete list of countertop fabricators in the United States from A to Z. We will be working on Louisiana next and hope to give you a look at that list as soon as its available. And you will find it here first.

There are still some inconsistencies to the list, but we are working to correct them and I just couldn't wait to share it.

In coming weeks (and likely months), we will be compiling lists for all 50 states, and once we get them done, we will seek input from the industry to make sure everything is in order before we release the information to the public.

We think this is going to be very popular with the countertop community and very useful for those seeking new countertops.

Let us know what you think!

Friday, August 7, 2015

Countertop Businesses and Fabricators in Kansas

Kansas: In 1803 the United States purchased Kansas from France as part of the Louisiana Purchase. Known as the "Sunflower State" Kansas also came to be called "Bleeding Kansas" because of the amount of violence the people endured during the Civil War. Kansas entered the Union on January 29, 1861 to become the 34th state.

The Geodetic Center of North America is about 40 miles south of Lebanon at Meade's Ranch. It is the beginning point of reference for land surveying in North America; meaning when a surveyor checks a property line, he is checking the position of property in relation to Meade's Ranch in northwest Kansas.

Civil War veteran S.P. Dinsmoor used over 100 tons of concrete to build the Garden of Eden in Lucas; even the flag above the mausoleum is made of concrete!

People in Kansas need countertops too, and there are plenty of places to supply them! You can find a list of countertop businesses in Kansas here.

This is a sneak peek at our efforts to compile the most complete list of countertop fabricators in the United States from A to Z. We will be working on Kentucky next and hope to give you a look at that list as soon as its available. And you will find it here first.

There are still some inconsistencies to the list, but we are working to correct them and I just couldn't wait to share it.

In coming weeks (and likely months), we will be compiling lists for all 50 states, and once we get them done, we will seek input from the industry to make sure everything is in order before we release the information to the public.

We think this is going to be very popular with the countertop community and very useful for those seeking new countertops.

Let us know what you think!

Tuesday, August 4, 2015

Countertop Businesses and Fabricators in Iowa

Iowa: The "Hawkeye  State" entered the Union on Dec. 28, 1846 to become the 29th State. 
French explorers Jacques Marquette and Louis Joliet were the first Europeans to visit Iowa in 1673. Iowa was included in the Louisiana Purchase and came under U.S. control in 1803.

Dubuque is home to the only county courthouse with a gold dome.

 
Ripley's Believe It or Not dubbed Burlington's Snake Alley as the most crooked street in the world.

Cornell College is the only school in the nation to have its entire campus listed on the National Register of Historic Places.

People in Iowa need countertops too, and there are plenty of places to supply them! You can find a list of countertop businesses in Iowa here.

This is a sneak peek at our efforts to compile the most complete list of countertop fabricators in the United States from A to Z. We will be working on Kansas next and hope to give you a look at that list as soon as its available. And you will find it here first.

There are still some inconsistencies to the list, but we are working to correct them and I just couldn't wait to share it.

In coming weeks (and likely months), we will be compiling lists for all 50 states, and once we get them done, we will seek input from the industry to make sure everything is in order before we release the information to the public.

We think this is going to be very popular with the countertop community and very useful for those seeking new countertops.

Let us know what you think!