Hardwood Distributors' THE BEST TOOL 70th Annual Convention FOR THE DECK BUILDIilG IilDUSTRY

Joe Wahed, chief economist of Wells Fargo Bank, moderated a discussion of the economy at the 70th annual convention of the Pacific Coast Wholesale Hardwood Distributors Association with participana showing modest optimism for the nation and cautious concern for California until 1995

President Shidey Reel, Reel Lrmrber Service, Anaheim, Ca., presided over the April4-7 meeting at Meadowood, St. Helena, Ca. , and introduced the sectional reportS:

Washington, Jack Butson, Brady International Hardwoods, Renlon: Customers continue to be cautiously optimistic with the mid-size cabinet shops catering to the mid to high-end residential market the busiest.

Oregon, Jim Price, Emerson Hardwood Co., Portland: Some lower-priced competitors beginning to move to replacement cost mentality. There is a srong emphasis on cleaning up accounts receivable. Steady business in 1993 with sEonger competition and weaker margins.

Northern California, Joe Long, J. E. Higgins Lumber Co., Concord: Credit and accounts receivable became more frightening as actual losses and need for additional reserves become a rcality. There is no reason to be optimistic about Califomias economy for the next year or two.

Orange County, Shirley Reel: Competition still very tough. A difference of one cent in the price of a deiail may detennine if you get or lose the order. Increased domestic and imported plywood prices with most suppliers on allocation. Undependable shipping with increased lead tine. A decrease in bar*ruprcies.

San Diego, Jim Frost, Frost Hardwood Lumber Co.: Residential building starts 87o lower than last year's dismal number. New environmental regulations are further aggravating the economy. Past due accounts have increased in the last three months. The economic picture for San Diego for the next four years will continue bleak.

Los Angeles, Lynn Monthaven, Lane-Stanton-Vance Lumber Co., City of Industry: A rash of bankruptcies since

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