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High-end retailer Robb & Stucky filed for Chapter 11 bankruptcy protection Friday after years of struggling in some of the hardest hit housing markets in the country. The Top 100 company, which operates large full-line stores and smaller Robb & Stucky Patio units in Florida, Las Vegas, Scottsdale, Ariz., and Plano, Texas, listed both assets . . . → Read More: Robb & Stucky in Chapter 11 The Obama administration has released a much-anticipated proposal for overhauling the troubled U.S. mortgage market. In a 32-page report, “Reforming American’s Housing Finance Market-A Report to Congress,” the government suggests incrementally winding down Fannie Mae and Freddie Mac and also recommends reducing the government’s now-key role in housing financing. The report suggests phasing in a . . . → Read More: Proposal to Limit Government’s Mortgage Role A judge in Portland, Maine has upheld a jury verdict that awarded $7.3 million in damages for emotional distress to a furniture and bedding retailer who contended he was double-crossed by a law firm he hired, according to a report in The Portland Press Herald. Peter Redman, who now operates Priceless Mattress & Furniture in . . . → Read More: Bedding Retailer’s Emotional Distress Case Upheld Case goods resource Stanley Furniture recorded a fourth-quarter net loss of $8.3 million as sales tumbled more than 30%. The loss, which equals 73 cents per share, was well above the loss in the fourth quarter of 2009, when the company lost $1.28 million, or 12 cents per share. The most recent quarter included $1.56 . . . → Read More: Stanley Furniture: 4Q Sales Down 30%, Loses $8.3 Million Consumer confidence rose in January after a dip in December, indicating consumers are feeling better about the economy, according to the latest reading of the Conference Board Consumer Confidence Index. The index now stands at 60.6 on a scale of 100, up from 53.3 in December and the highest since May, when the index was . . . → Read More: Consumer Confidence Highest Since May 2010 |
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