Author Topic: Lumber Liquidators Dives After Gov't Raid On Its HQ  (Read 2706 times)

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Offline flowers

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Lumber Liquidators Dives After Gov't Raid On Its HQ
« on: September 28, 2013, 02:22:16 PM »
http://finance.yahoo.com/news/lumber-liquidators-dives-govt-raid-222200210.html

Quote
Lumber Liquidators (LL) plunged Friday after federal officials raided the hardwood flooring retailer's Toano, Va., headquarters as part of a probe into possible illegal imports. But management told one analyst the company doesn't know why it's been targeted.

The Department of Homeland Security, along with the U.S. Fish and Wildlife Service, executed a sealed court-issued search warrant on Thursday at its Toano, Va., headquarters and at a Richmond, Va., store.

Lumber Liquidators shares tumbled as much as 11% Friday, closing down 5%. The stock had risen 114% this year amid a resurgent homebuilding market and remodeling upgrades by more confident consumers.

Management Floored

"I talked to their management 20 minutes ago and they were scratching their heads" as to why Lumber Liquidators was raided, ISI Group analyst Matt McGinley told IBD on Friday afternoon. "Nobody in the company knows what the scope and size of the investigation is. The only thing they know is the feds showed up and took documents," he said.

The flooring retailer, which operates more than 300 stores na tionwide, said in a statement that it would give investigators information and documents related to certain wood-product imports.

Lumber Liquidators said it gets products from more than 110 U.S. and international mills and has more than 60 people who monitor imports.

"The company takes its sourcing very seriously, and is cooperating with authorities to provide them with requested information," it said.

Further details on what Homeland Security was searching for were not immediately available. The company and government officials declined comment beyond initial statements.

The raid could involve the century-old Lacey Act, which requires U.S. companies to comply with other countries' laws when trading certain animal parts. Wood was added to the act in 2008 to try to curb illegal logging.


Offline Cincinnatus

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Re: Lumber Liquidators Dives After Gov't Raid On Its HQ
« Reply #1 on: September 28, 2013, 02:41:07 PM »
Quote
"I talked to their management 20 minutes ago and they were scratching their heads" as to why Lumber Liquidators was raided, ISI Group analyst Matt McGinley told IBD on Friday afternoon

No need to be scratching heads, my friends. Just remember Gibson guitars. You are known to advertise on Conservative radio shows like Rush.

QED
We shall never be abandoned by Heaven while we act worthy of its aid ~~ Samuel Adams

Offline happyg

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Re: Lumber Liquidators Dives After Gov't Raid On Its HQ
« Reply #2 on: September 28, 2013, 02:47:50 PM »
No need to be scratching heads, my friends. Just remember Gibson guitars. You are known to advertise on Conservative radio shows like Rush.

QED

That's the first thing that came to my mind. Obama is cleaning house...his house, or so he thinks.

Offline Rapunzel

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Re: Lumber Liquidators Dives After Gov't Raid On Its HQ
« Reply #3 on: September 28, 2013, 02:47:58 PM »
Uh huh........... 
“The time is now near at hand which must probably determine, whether Americans are to be, Freemen, or Slaves.” G Washington July 2, 1776

Offline flowers

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Re: Lumber Liquidators Dives After Gov't Raid On Its HQ
« Reply #4 on: September 28, 2013, 02:49:09 PM »
My first thought as well.


Offline happyg

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Re: Lumber Liquidators Dives After Gov't Raid On Its HQ
« Reply #5 on: September 28, 2013, 02:57:16 PM »
"...With Gibson, there was pretty good evidence they were targeted politically" after contributing heavily to Republican candidates, he said.

Reynolds noted that Lumber Liquidators is a sponsor for conservative talk radio host Rush Limbaugh. But the flooring retailer states on its website that it has never sought to run ads on the Limbaugh show specifically, but it works with an agency that places ads in certain markets."

http://finance.yahoo.com/news/lumber-liquidators-dives-govt-raid-222200210.html

Offline Cincinnatus

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Re: Lumber Liquidators Dives After Gov't Raid On Its HQ
« Reply #6 on: September 28, 2013, 03:09:13 PM »
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But the flooring retailer states on its website that it has never sought to run ads on the Limbaugh show specifically, but it works with an agency that places ads in certain markets."

So what? That is where the ads run and so Lumber Liquidators, and anyone else who "accidentally" supports Conservative talk radio, or is thinking about doing so, must be taught a lesson.
We shall never be abandoned by Heaven while we act worthy of its aid ~~ Samuel Adams

Offline Rapunzel

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Re: Lumber Liquidators Dives After Gov't Raid On Its HQ
« Reply #7 on: September 28, 2013, 03:14:03 PM »
So what? That is where the ads run and so Lumber Liquidators, and anyone else who "accidentally" supports Conservative talk radio, or is thinking about doing so, must be taught a lesson.

Find out who the CEO is and what party he has donated money to... my guess it is more than his ads... but he is also donating to the GOP.
“The time is now near at hand which must probably determine, whether Americans are to be, Freemen, or Slaves.” G Washington July 2, 1776

Online mountaineer

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Re: Lumber Liquidators Dives After Gov't Raid On Its HQ
« Reply #8 on: September 28, 2013, 08:29:37 PM »
No need to be scratching heads, my friends. Just remember Gibson guitars. You are known to advertise on Conservative radio shows like Rush.

QED
Also my first thought. Stupid dictatorial bureaucracy.
A day without sunshine is like, you know, night.

Offline sinkspur

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Re: Lumber Liquidators Dives After Gov't Raid On Its HQ
« Reply #9 on: September 28, 2013, 08:33:37 PM »
Find out who the CEO is and what party he has donated money to... my guess it is more than his ads... but he is also donating to the GOP.


Actually, he held a fundraiser for Obama:

http://www.bizjournals.com/southflorida/blog/2013/06/why-obama-came-to-tom-sullivans-miami.html?page=all
From  "A Shining City on a Hill"

To "A global laughingstock"

Offline happyg

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Re: Lumber Liquidators Dives After Gov't Raid On Its HQ
« Reply #10 on: September 28, 2013, 08:36:40 PM »
Lumber Liquidators also put the floor in Rush's new studio. They are after Rush, by way of anyone Rush benefits from.

famousdayandyear

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Re: Lumber Liquidators Dives After Gov't Raid On Its HQ
« Reply #11 on: September 28, 2013, 09:04:08 PM »
Issue BUY order Monday for LL

Offline sinkspur

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Re: Lumber Liquidators Dives After Gov't Raid On Its HQ
« Reply #12 on: September 28, 2013, 09:16:09 PM »
Issue BUY order Monday for LL

Yes, let's buy shares in LL so that Sullivan can shovel more money to the DNC.

And I'd like to see a link to evidence that Rush used LL lumber was used on Rush's studio. 
From  "A Shining City on a Hill"

To "A global laughingstock"

famousdayandyear

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Re: Lumber Liquidators Dives After Gov't Raid On Its HQ
« Reply #13 on: September 28, 2013, 09:20:23 PM »
Yes, let's buy shares in LL so that Sullivan can shovel more money to the DNC.

And I'd like to see a link to evidence that Rush used LL lumber was used on Rush's studio. 

So easy to bait.  Fish in a barrel. :silly:

Offline sinkspur

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Re: Lumber Liquidators Dives After Gov't Raid On Its HQ
« Reply #14 on: September 28, 2013, 09:31:33 PM »
From  "A Shining City on a Hill"

To "A global laughingstock"

Online mystery-ak

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Re: Lumber Liquidators Dives After Gov't Raid On Its HQ
« Reply #15 on: September 28, 2013, 09:39:39 PM »
Yes, let's buy shares in LL so that Sullivan can shovel more money to the DNC.

And I'd like to see a link to evidence that Rush used LL lumber was used on Rush's studio.

Well I can't give you evidence unless he has photos on his website [which I am not privy to anymore since I let my membership expire]...but he has said many many times when LL was a sponsor how they put floors down in his studio.....

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Offline sinkspur

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Re: Lumber Liquidators Dives After Gov't Raid On Its HQ
« Reply #16 on: September 28, 2013, 09:43:59 PM »
Well I can't give you evidence unless he has photos on his website [which I am not privy to anymore since I let my membership expire]...but he has said many many times when LL was a sponsor how they put floors down in his studio.....

OK.  I'll take your word for it, since I listen to Rush less and less these days. 

I'm sure Rush hangs with lots of high-dollar Democrat supporters though, so he likely doesn't care.
From  "A Shining City on a Hill"

To "A global laughingstock"

Offline happyg

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Re: Lumber Liquidators Dives After Gov't Raid On Its HQ
« Reply #17 on: September 28, 2013, 09:44:06 PM »
Well I can't give you evidence unless he has photos on his website [which I am not privy to anymore since I let my membership expire]...but he has said many many times when LL was a sponsor how they put floors down in his studio.....


http://www.rights-right.com/t10631f12-Another-Republican-Supporting-Business-Raided-Suspicion-of-Using-Mongolian-Wood.html

Google is so easy...

Offline sinkspur

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Re: Lumber Liquidators Dives After Gov't Raid On Its HQ
« Reply #18 on: September 28, 2013, 09:48:40 PM »
http://www.rights-right.com/t10631f12-Another-Republican-Supporting-Business-Raided-Suspicion-of-Using-Mongolian-Wood.html

Google is so easy...


You give me a quote from a blog? 

The FACT is, Tom Sullivan, the CEO of Lumber Liquidators, supports Democrats and hosted a fundraiser for Obama just this summer.

Stuart Varney interviewed him on FBN and was shocked when Sullivan revealed his Obama connections.

Why would anybody care if Obama's regulators drove LL out of business? 
From  "A Shining City on a Hill"

To "A global laughingstock"

Offline Rapunzel

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Re: Lumber Liquidators Dives After Gov't Raid On Its HQ
« Reply #19 on: September 28, 2013, 09:50:17 PM »
I'm guessing he isn't such a big supporter now.
“The time is now near at hand which must probably determine, whether Americans are to be, Freemen, or Slaves.” G Washington July 2, 1776

Online mystery-ak

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Re: Lumber Liquidators Dives After Gov't Raid On Its HQ
« Reply #20 on: September 28, 2013, 09:52:23 PM »
I'm guessing he isn't such a big supporter now.

LOL...yep

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Offline Lipstick on a Hillary

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Re: Lumber Liquidators Dives After Gov't Raid On Its HQ
« Reply #21 on: September 28, 2013, 09:52:27 PM »
No kidding.  LL has a photo of Rush's studio right on their site.

Online aligncare

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Re: Lumber Liquidators Dives After Gov't Raid On Its HQ
« Reply #22 on: September 28, 2013, 10:34:36 PM »
I think we're missing an equally disturbing aspect of this and the Gibson guitar story. The question should be what are the Feds doing raiding a company over wood flooring? for Pete sake! We've let the enviros run roughshod over American business. I know, Lumber Liquidators' wood floors are killing Mother Earth and we need the FBI and Fish cops to ride to the rescue and slap hand cuffs on some evil corporate planet rapers. I'm so sick of this. And let's not forget it was a republican, Nixon, who signed the law establishing the EPA. (Yes, and surely Mother Nature breathed a sigh of relief that day even before the ink dried...)
NeverTrump wants to deny you YOUR voice, YOUR presidential choice.

famousdayandyear

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Re: Lumber Liquidators Dives After Gov't Raid On Its HQ
« Reply #23 on: September 28, 2013, 10:45:13 PM »
Pretty obvious to me--and everybody else with the power of reason.

Offline Cincinnatus

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Re: Lumber Liquidators Dives After Gov't Raid On Its HQ
« Reply #24 on: September 28, 2013, 10:54:30 PM »
And I'd like to see a link to evidence that Rush...hangs with lots of high-dollar Democrat supporters

Yeah, yeah, I know. He isn't going to answer. He never does. Heck, I am still waiting for his evidence from the ACU that Tom Coburn has the highest conservative rating in the entire Congress which has been asked 2 days in a row.
We shall never be abandoned by Heaven while we act worthy of its aid ~~ Samuel Adams


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