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- CIT Group aims to reduce debt via bankruptcy filing
In its bankruptcy filing, CIT Group listed assets of $71 billion and liabilities of nearly $65 billion. The lender said support from its bondholders should make it possible for the company to quickly exit court protection. "Short term, it's going to cause some difficulties for startups and smaller borrowers," said Jean Everett, a partner at Hiscock & Barclay. "CIT lent across so many sectors it's sort of difficult to predict how it'll affect each sector." Bloomberg
(11/1), Financial Times (tiered subscription model)
(11/2), Reuters
(11/2), NYTimes.com
(11/1)     
| In the News | | |
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- Economic downturn forces spa company to adapt
After more than 30 years manufacturing hot tubs, Dimension One Spas has entered a new line of business: surfboards. Owner Bob Hallam made the decision to diversify when it became clear that the economic downturn would shrink sales in the industry. Experts praised the company's willingness to adapt and noted that its new line of business has the potential to strengthen the company's spa brands. Inc.
(11/2009)
- Deer takes a dip in North Carolina pool
A deer recently took a swim in an indoor pool in Gastonia, N.C. A surveillance video showed the animal swimming for about 15 minutes in the Ashley Arms Historic Apartments pool. Managers of the apartment complex say the deer jumped from a balcony and through the pool's glass roof. The apartment's maintenance manager herded the deer to the shallow end of the pool with a net, and it quickly left the pool and ran away.  WCNC-TV (Charlotte, N.C.)
(10/30)
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- 5 firms show how they adapt to change
BusinessWeek looks at how five entrepreneurs are reviewing their business models and adapting to change. The businesses are diversifying, producing more revenue from online orders, updating facilities and online offerings, changing pricing and tightening their belts. Bloomberg Businessweek
(11/4)
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- Hot tubs are key to attracting off-season renters
A hot tub is the best investment a property owner can make to attract renters during the off season, according to Christine Karpinski, author of "How To Rent Vacation Properties By Owner." She notes that emphasizing features such as fireplaces and offering off-season discounts may also help attract vacationers in the fall and winter months. Google/The Canadian Press
(11/3)
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Latham International signs on as first APSP sponsor
APSP has launched the first phase of a new program offering a limited number of sponsorships aimed at companies interested in such opportunities. Latham International has become the first Strategic Level sponsor. Strategic Level slots are available at $20,000, Leader Level at $15,000 and Collaborator Level at $10,000. Each includes benefits for the sponsor as well as for APSP members in the areas of consumer safety and industry professionalism. The next phase of the program will be introduced next year and will include specific event and activity sponsorships starting at $1,000. Contact Helen Bloch at hbloch@apsp.org to become a sponsor now and watch for further details.
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The CPSC Hearings webcast starts today at 9 a.m. EST
CPSC's public hearing to receive views from interested parties on the Virginia Graeme Baker Pool & Spa Safety Act July 2009 Staff Technical Guidance on Unblockable Drains will be webcast live at www.cpsc.gov/webcast/index.html and later archived. Oral presentations will be made by interested parties including APSP's Carvin DiGiovanni. All five CPSC commissioners will attend.
| Product Trends and Research | | |
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- Spa maker hopes branding deal boosts sales
Hot tub manufacturer LMS recently purchased the right to make spas under the name of outdoor supply company Coleman. LMS believes the agreement will lead to an increase in sales and plans to add 90 new manufacturing jobs this year. If the spas sell well, LMS will add a total of 250 jobs over the next two years, President Casey Loyd said. Los Angeles Times
(10/30)
- Florida community is praised for green landscaping
PGA Village in Port St. Lucie, Fla., was recently recognized by the St. Lucie County Cooperative Extension and the University of Florida for landscaping that incorporates environmentally friendly techniques. The landscaping, which was completed a year ago, includes perennials capable of surviving with less water. The golfing community also features a variety of multicolored plants and will add poinsettias to the mix this holiday season. TCPalm.com (Fort Pierce, Fla.)
(11/2)
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| About APSP |
The Association of Pool & Spa Professionals (APSP) is the world's largest international trade association representing the swimming pool, spa and hot tub industry.
APSP's mission is promoting consumer safety and enhancing the business success of its members. Members adhere to a code of business ethics and share a commitment to
public health and safety in the use of pools, spas and hot tubs. APSP member companies include manufacturers, distributors, manufacturers' agents, designers, builders,
installers, retailers, and service professionals. For more information, visit www.APSP.org
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| | Recent APSP SmartBrief Issues:
- Wednesday, October 28, 2009
- Wednesday, October 21, 2009
- Wednesday, October 14, 2009
- Wednesday, October 07, 2009
- Wednesday, September 30, 2009
| | | Lead Editor: Jennifer Hicks
Mailing Address:
SmartBrief, Inc.®, 1100 H ST NW, Suite 1000, Washington, DC 20005 | |
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