>Brookings Oregon News, Sports, & Weather | The Curry Coastal Pilot

News Classifieds Web
web powered by Web Search Powered by Google

News arrow News arrow Business arrow CROWDS FLOCK TO OPENING OF HOME DEPOT

CROWDS FLOCK TO OPENING OF HOME DEPOT Print E-mail
October 06, 2006 11:00 pm

By Hilary Corrigan

Wescom News Service

CRESCENT CITY, CALIF. – Del Norte and Curry county residents this week welcomed Home Depot like a long-awaited friend.

"Biggest thing in Del Norte County," said Les Moen, who has lived in the area for 37 years. "The biggest thing that's happened in a long time."

The store opened Thursday after a "board-cutting" ceremony and preview Wednesday night.

Area residents caught up with friends and talked about other chain retailers rumored to be heading to Crescent City, Calif.

Children climbed into sink displays, ran through aisles and swung open refrigerator and dryer doors.

"The whole town's here," said city resident Chris Atken. "This is the best thing that's happened to this town."

In planning for more than two years, the store has provided about 125 staff jobs and has sparked talk of coming development.

"It's great for the community," said Crescent City finance director Edwin Erickson.

Erickson expects that Home Depot's $17 million annual sales projection for the store will put about $150,000 into the city's general fund each year from sales tax revenue.

That would make the store the city's biggest single source of sales tax revenue, which totaled just over $1 million in fiscal year 2006, when the general fund reached about $4.4 million.

It has already attracted more than just local residents.

Cindy Berichon, supervisor of the contractor desk, noted visitors from Eureka, Gold Beach and Coos Bay at Wednesday's opening. The first two contractors to set up accounts on Thursday came from Crescent City and Brookings Berichon said.

Some shoppers have been ready to buy.

Crescent City resident Jim Standring has postponed home and office improvement projects until the store opened.

"I'm still planning my strategy," Standring said while comparing prices on hot water heaters to those he saw at the Home Depot in Medford, Ore. "Gotta line up all the credit accounts to make the purchases."

In the flooring section, sales associate Gary Banks answered technical questions from eager customers – how to lay tiles on concrete floors or cracked wood.

Sometimes he pointed to the "I'm in training" button pinned to his apron.

"A little overwhelming," Banks said. "But I enjoy it."

Steve and Linda Moyle of Harbor showed up at Wednesday's opening with a list of items that they can't find at other area stores.

"We're checking out what they have," Linda Moyle said.

They planned to return for a pet door and a timer for a waterfall decoration, among other items.

Bill Adams picked up a handful of paint swatches.

The store's selection will make remodeling work easier, Adams said of his project at a Crescent City home that he plans to live in after moving from the Redding area.

He pointed to tools that he can't find elsewhere – a magnetic sweeper, for instance, that picks up loose nails.

"Hardware heaven," Adams said. "I'm totally elated."

 

Business News by Yahoo Finance

  • Japan finance minister Aso: No talk on forex with U.S. Treasury Secretary Lew
    Japanese Finance Minister Taro Aso said on Friday there was no discussion on currency moves at his meeting with U.S. He also said the two agreed on the need to achieve sustainable economic growth in Japan and the United States as the euro-zone economy stagnates. Aso made the remarks after meeting with Lew on the sidelines of the Group of 20 finance leaders' weekend gathering in the Australian city of Cairns.
  • Relief for Europe as Scotland stays put
    British markets rallied and the rest of Europe followed suit on Friday as Scotland's decision to stay in the United Kingdom eased investors past the latest in a recent run of global political obstacles. With almost all the votes in, the camp for Scotland to remain in the UK was ahead 55 percent to 45 percent, an outcome likely to bring relief to a number of countries in Europe, particularly Spain, which is facing similar secessionist pressures in Catalonia. Sterling (GBP=D4) jumped to a two-week high against the dollar, a two-year peak against the euro, London's FTSE (.FTSE) share index hit a two-week high and Spanish stocks (.IBEX) and bonds Sentiment was also underpinned by news that Chinese internet giant Alibaba (BABA.N) priced its IPO at $68 a share on Thursday, the top end of the expected range that raises $21.8 billion in one of the world's largest-ever stock offerings.
  • Alibaba IPO prices at top of range, raising $21.8 billion
    At that price, the IPO, one of the largest-ever, would give Alibaba a market valuation of $167.6 billion, surpassing American corporate icons from Walt Disney Co (DIS.N) to Boeing Co (BA.N). “I’d put them (Alibaba) in a class of Facebook and Google with the scale they have, growth prospects and profitability," said Scot Wingo, CEO of e-commerce software provider ChannelAdvisor. An Ipsos poll conducted for Thomson Reuters found that 88 percent of Americans had never heard of the Chinese e-commerce company, which is responsible for 80 percent of online sales in the world's second largest economy and works with a number of businesses there including consumer online marketplace Taobao and payment service Alipay. Keen to buy into China's rapid growth and evolving Internet sector, investors have been clamoring to get shares since top executives at Alibaba, including Ma, kicked off the road show last week.

Follow Curry Coastal Pilot headlines on Follow Curry Coastal Pilot headlines on Twitter

© Copyright 2001 - 2014 Western Communications, Inc. All rights reserved. By Using this site you agree to our Terms of Use