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Old 03-04-2015, 02:18 PM   #1
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Lumber Liquidators on 60 Minutes

http://www.marketwatch.com/story/lum...eek-2015-03-04

Lumber Liquidators Holding Inc. shares reversed course to trade down 12% Wednesday, after a Democratic senator called on the federal government to conduct independent testing of China-sourced laminate, alleged in a weekend report to contain higher-than-accepted levels of a known carcinogen.


Sucks for those who have LL wood installed in their homes. On the bright side, I am loading up on $LL shares when it hits 30 or below. This thing will blow over and be back up in a month.

Last edited by ///A; 03-04-2015 at 02:21 PM.
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Old 03-04-2015, 02:28 PM   #2
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http://www.marketwatch.com/story/lum...eek-2015-03-04

Lumber Liquidators Holding Inc. shares reversed course to trade down 12% Wednesday, after a Democratic senator called on the federal government to conduct independent testing of China-sourced laminate, alleged in a weekend report to contain higher-than-accepted levels of a known carcinogen.


Sucks for those who have LL wood installed in their homes. On the bright side, I am loading up on $LL shares when it hits 30 or below. This thing will blow over and be back up in a month.
I find it incredible that a short seller can actually go out to a shop like 60 min, provide them with his own research, and have 60min air the story as if it were their findings. How the fk is this legal?

Good luck catching that falling knife. If the story gets more legs, the lawsuits alone will be enough for LL to want to close up shop.
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Old 03-04-2015, 02:33 PM   #3
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Old 03-04-2015, 02:47 PM   #4
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http://www.marketwatch.com/story/lum...eek-2015-03-04

Lumber Liquidators Holding Inc. shares reversed course to trade down 12% Wednesday, after a Democratic senator called on the federal government to conduct independent testing of China-sourced laminate, alleged in a weekend report to contain higher-than-accepted levels of a known carcinogen.


Sucks for those who have LL wood installed in their homes. On the bright side, I am loading up on $LL shares when it hits 30 or below. This thing will blow over and be back up in a month.
That could be very foolish...The 60 Minutes piece was pretty damning, and there have been rumblings for a few years regarding LL's quality.. If the 60 Minutes report gets legitimized, expect a Class Action Lawsuit with LL shelling out millions to customers, government fines and even further loss in stock..Or they simply go bankrupt and execs walk away with already generated revenues. A company that is being accused of such accusations in my mind is operating without any integrity, and thus has nothing to lose, simply grabbing money as fast as possible at any costs.. Toxic stock.
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Old 03-04-2015, 03:14 PM   #5
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Old 03-04-2015, 03:18 PM   #6
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That could be very foolish...The 60 Minutes piece was pretty damning, and there have been rumblings for a few years regarding LL's quality.. If the 60 Minutes report gets legitimized, expect a Class Action Lawsuit with LL shelling out millions to customers, government fines and even further loss in stock..Or they simply go bankrupt and execs walk away with already generated revenues. A company that is being accused of such accusations in my mind is operating without any integrity, and thus has nothing to lose, simply grabbing money as fast as possible at any costs.. Toxic stock.
exactly! i wouldn't go jumping on their stock assuming this will easily blow over.

remember that chinese drywall a few years ago with sulfur? had to rip out every single wall in thousands of homes.

wouldn't surprise me to see LL having to test the flooring in many homes and rip out and replace it if above acceptable levels.
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Old 03-04-2015, 03:25 PM   #7
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Old 03-04-2015, 03:56 PM   #8
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That could be very foolish...The 60 Minutes piece was pretty damning, and there have been rumblings for a few years regarding LL's quality.. If the 60 Minutes report gets legitimized, expect a Class Action Lawsuit with LL shelling out millions to customers, government fines and even further loss in stock..Or they simply go bankrupt and execs walk away with already generated revenues. A company that is being accused of such accusations in my mind is operating without any integrity, and thus has nothing to lose, simply grabbing money as fast as possible at any costs.. Toxic stock.
I will reserve judgement until all allegations are proven. The only truth we know thus far is that this is an allegation and not proven yet. Whether or not Execs at LL knew about it, or the Chinese were simply trying to increase their own margins is still up in the air.
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Old 03-04-2015, 09:55 PM   #9
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I will reserve judgement until all allegations are proven. The only truth we know thus far is that this is an allegation and not proven yet. Whether or not Execs at LL knew about it, or the Chinese were simply trying to increase their own margins is still up in the air.
At this point, it doesn't really matter, damage has been done. I don't think anyone is waiting around for verification. Those who saw the show will never buy from LL, those who recently brought want refunds, those who had it installed want to rip it out and replace it. LL has 7 stores here, on the local news, people are lining up to return their products.
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Old 03-04-2015, 11:20 PM   #10
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Don't be greedy at $30 OP, let it slide.
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Old 03-04-2015, 11:27 PM   #11
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LL is for the poors. If you know ANYTHING about flooring and care about putting something decent into your house, you'd stay away from their bullsh!t flooring. There is a reason they are so cheap, besides their killer chemicals, their wood has like 30% waste.
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Old 03-05-2015, 12:44 AM   #12
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They are a sinking ship with wood that is not Carb2
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Old 03-05-2015, 07:00 AM   #13
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+1 to LL is for plebs.
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Old 03-05-2015, 07:14 AM   #14
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Another reason not to buy engineered flooring and stick with solid wood.
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Old 03-05-2015, 07:27 AM   #15
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LL is for the poors. If you know ANYTHING about flooring and care about putting something decent into your house, you'd stay away from their bullsh!t flooring. There is a reason they are so cheap, besides their killer chemicals, their wood has like 30% waste.
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+1 to LL is for plebs.
Yeah a bit confused why this applies to us ballers on e46f?
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Old 03-05-2015, 07:34 AM   #16
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I will reserve judgement until all allegations are proven. The only truth we know thus far is that this is an allegation and not proven yet. Whether or not Execs at LL knew about it, or the Chinese were simply trying to increase their own margins is still up in the air.
True, if the latter part about the Chinese is true then it is still a moot point because LL claimed to inspect all their boards before being shipped out.

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Another reason not to buy engineered flooring and stick with solid wood.
Not really. Under normal manufacturing they are harmless, and you cannot tell the difference between the two. The only downside to real engineered hardwood would be how many times it can be resurfaced.
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Old 03-05-2015, 08:10 AM   #17
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True, if the latter part about the Chinese is true then it is still a moot point because LL claimed to inspect all their boards before being shipped out.
Did they claim that they inspected before being shipped? I must've missed that part. I thought the Chinese slapped the labels. If LL made that claim, then they are indeed in deep sht.

Also, I am now pondering what other things made in China gets swept under the rug, and only divulged upon a private investigation. I mean, there must be a crap-load of MIC items that are not what it claims to be to turn profits. There's no way LL are the only ones...
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Old 03-05-2015, 08:25 AM   #18
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My new house will have all American oak planking... Sanded and finished in place. There is way too much crap on the market these days!
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Old 03-05-2015, 08:46 AM   #19
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I mean, there must be a crap-load of MIC items that are not what it claims to be to turn profits. There's no way LL are the only ones...
Yep - in all industries. MIC toys are recalled all the time for things like lead in paint. Other recalls have included heavy metals in jewelry. China is the cesspool of manufacturing.
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Old 03-05-2015, 08:47 AM   #20
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Another reason not to buy engineered flooring and stick with solid wood.
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