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This is taking Stock. Coming up on taking stock. When Americans fix up their homes, they turned to the chief executive of the next company will be speaking about treks, and you're the inventors of composite decking made from recyclable materials. We're gonna tell you all about treks and trends in the home remodeled business. We're else can be taking a look at the markets and some big eco reports this week Pan Manufacturing. That ties right into our guest as well.
Now let's get to Charlie Pellett. He's in the newsroom with a Bloomberg business land and I thank you very much, Kathleen, thank you him. Welcome back from Bermuda the DALV SMP NEZ back all moving higher. We are brought to you by the American Arbitration Association. Business disputes are inevitable, resolve faster with the American Arbitration Association, the global leader in alternative dispute resolution for over eighty five years. Learn more at a d R dot org a rally and Crewe prices,
boosting energy shares. Apple also jumping after Berkshire Hathaway disclosed a stake in the iPhone maker. Apple up now by four percent. Oil trading at a six month high, as Goldman Sachs said the market moved into a deficit earlier than expected following supply disruptions in Nigeria along with an increase in demand. Will Kennedy covers oil for Bloomberg News in London. In the last few days, Nigeria has been
the big story. We've seen a resurgance of violence in the Niger Delta, where rebels have always wanted to try and get more oil revenue out of the central government. Right now they've attacked several oil platforms throughout the vision. And that's not six hundred thousand piles at a straight out of the market taken Niga introduction to twenty a low, and remember that comes out of existing atoges in Canada, which is still trying to recover from the wildfire in
Venezuela where the claps. The economy is having an impact, and right now crude oil up three and a half percent, closer to forty eight dollars now four hired by a dollar sixty three on West Texas Intermediate Delta Airlines will trim plan growth for the second half of this year and delay delivery of four jets as the carrier attempts to reverse a revenue decline that has extended more than
a year. Delta shares up now by three and a half percent, Dow indust reels up one night eight, SMP up twenty two, and gold up a dollar eight e. Now let's look at other news from around the world. Thank you Charnie from the Bloomberg news room. I'm Sherry Anne. This news update is brought to you by the Jute Grand Cherokee, the most awarded suv ever. The Grand Cherokee continues to raise the bar with this luxurious interior and legendary four by four capability. Drive one at your local
Qute dealer today. Three Santa Monica, California police officers who responded to a deadly rampage at a community college are among thirteen law enforcement officers being honored with the medal of Valor today. President Obama spoke this morning at a ceremony at the White House. The public safety officers we recognized today with the Medal of Valor found courage. Not
in search of recognition, they did it instinctively. In an interview on i t v S Good Morning Britain, Donald Trump was asked how he felt about the British Prime Minister's criticism of his call Front band on Muslims entering the US. Well, Number one, I'm not stupid, Okay, I can tell you that right now. Just the opposite number two in terms of divisive. I don't think I'm a divisive person. I'm a unifier. Unlike our president. Now, I'm a unifier. A cruise ship has docked in Galveston, Texas
minus one of its passengers. Samantha Broberg, apparently fell overboard from the Carnival Liberty into the Gulf of Mexico early Friday. The Coast Guard called off the search after looking for the thirty three year old for more than twenty hours. Utilities and their labor unions are asking state lawmakers to make it a felony when anyone attacks utility workers. They say the legislation is necessary as a deterrent, particularly for those in the field restoring lost power who are on
high risk of violence. Global News twenty four hours a day, powered by our two hundred journalists in more than a hundred and fifty news bureaus around the world. From the Bloomberg News Room, I'm sharing an Charlie, and we thank you and again recapping S and P five hundred index up twenty one points, a gain of one percent. I'm Charlie Pellett and that's a Bloomberg business flash. You're listening to Taking Stock with Kathleen Hays and Pim Fox on
Bloomberg Radio. Welcome back to taking Stock. We're going to be looking now at an alternative wood decking company. If you've put in a new deck lately or tried your parent old when, I bet you're thinking, gee, I do didn't know this existed, or maybe wishing you'd given a look. Jim Klein is President and CEO of Treks. That's t R e X located Winchester, Virginia, joining us in our studio today. So Jim, welcome, thank you. So alternative wood decking.
A lot of people have their you know, their pressure treated wood. They have their cedar. What is alternative would ducking like? Basically? It offers advantages that would can't offer. Uh, it requires significantly less maintenance and will last for over twenty five years. Is it more expensive? It's a little bit more expensive depending on the quality of product you buy. It will be about ten to twenty more than a
pressure treated deck. What does it look like? Uh, it will It will look very similar to wood, but it is made from recycled paul ours is made from recycled polyethylene and sawdust. So the combination of those two give a fairly realistic would look to it? Now, just to go over the details, right, saw dust, wood palettes, wood chips, would fiber then also polyethylene. You just described you want to go after not just the market that you've got, You want to go after the market that includes the
traditional all wood planking and decking material. Correct. Absolutely right, And and the reason we want to do that is eight percent of the lineal feet sold or would either pressure treated or hardwoods. Alternative wood products are only about six For every one percent we can move to alternative wood products, it's fifty million of additional sales to us. So you joined Tracks in two thousand eight as the CFO chief financial officer. You're now the president and CEO.
What kind of background did you come from and what did you bring? What attracted you two Tracks? Well, prior to coming with Tracks, I had worked for the new CEO of Tracks for about twenty years, and so I had a fair amount of experience in finance. When UH the president slot opened up, I was offered the president slot of a division of Harscoe Corporation. UH worked there for two and a half years, culminated in a sale of that division. I found myself retired and I got
a call from an old boss. He suggested maybe I might be interested in working as a CFO for him. Right now, what are we talking about? An annual run rate I believe of around four hundred and fifty million dollars something in that range. And what the net income of nearly sixty million? Uh? That's right. Our sales have been growing at an average compound growth over the last four years. About earnings, Eva daw about thirty. As far as the technology that goes into making this h can
we call it a composite? Would that be accurate? Okay, You've got something special, which I believe has to do with having invented it at tracks. Does this mean it's patent protected? There's no patents on the product we manufacture. We are a recycled product. Our deck boards are recycled material. Waste polyethylene such as grocery bags, shopping bags, saw dust from cabinet and UH flooring manufacturers are combined to make our product. So you have longstanding relationships with some of
the big national retailers like Walmart and Target. What is the ambition that you have to for Trecks? Do you want to grow? Do you want to get into different kinds of products? What are you know where? What's the what's your dream? What's your vision? Well, we certainly are have our roots UH in recycling, that was the origin of the company. But Trecks is a typical manufacturing company. We're trying to make the right kind of return for our shareholders. So to do that, we believe growth is
a key component of that. One of the ways we get there is by converting people from wood products to what alternative products? Do you have any trouble finding skilled workers? You know? And and and how about this strong dollar? That kind of those kind of macro forces we talk about all the time on this show, especially for manufacturers. UH. Tricks has manufactured in the United States. We do have an international business. It's a little bit less than ten
percent of our sales. Uh. Certainly that is created a head wind because it makes our products more expensive overseas. You also have the Transcend product line. Correct, this is uh something that you've introduced I guests over the last five or six years. Uh, that's correct. The Transcend product is a second generation product that offers a much more resilient product that requires dramatically less maintenance than any of the predecessing products. So uh, in terms of recycling, and
this is saying that's with the company's roots. Uh, what are are you pleased? We haven't been in the industry for so long seeing what you're seeing there? Are we? Are we doing enough? We're moving enough in the right direction. I think we have a long way to go. If you look at the amount of waste poly ethylene that's recycled, it's a small percentage, So we could all do more
in the recycling. A lot of people are are not as conscious as they should be with regard to going to recycling centers and depositing their plastics at recycling centers. Thank you very much for spending time with us. Jim Klein is the chief executive of Treks, a company. They are based in Winchester, Virginia. Thank you, thank you. Shares of Treks right now up thirty two cents or forty one eighty six cents. The stock is up a little
bit more than ten percent so far this year. Coming up on taking stock, We're we're speaking with Brad McMillan, chief investment officer for Commonwealth Financial Network. Find out what you should do with your money. That's next right here, I'm Doomer Radio. Down day for you, as government bonds, as stocks move one percent higher across the board, what do you have to be on the lookout for this week? We're going to find out, coming up right now on Bloomberg Radio.