Stock tumbles after raid of Lumber Liquidators

CNN Money ^ | 09/27/2013

[SeekAndFind]

Federal investigators raided the offices of Lumber Liquidators on Thursday, the company and authorities said.

Stocks of the hardwood flooring retailer fell sharply on Friday as the news emerged, dropping just over 10% at midday.

No arrests were made and the search warrants remain sealed, said Brandon Montgomery, a spokesman for the Department of Homeland Security. He said the search involved special agents from the Immigrations and Customs Enforcement, U.S. Fish and Wildlife Service and the Department of Justice.

Lumber Liquidators (LL) suggested the investigation involved its importation of wood products, which come from "approximately 110 domestic and international mills around the world."

[Resolute Conservative]

Using lumber from non-union mills? /S

[Gen.Blather]

They should have contributed to Obama like their competitor did.

[MeshugeMikey]

I just posted a drop of 8 percent in another L.L. thread.

the obama pitbulls....need to be....held for observation..of possible rabies

[CaptainK]

What’s the party affiliation of the owner of Lumber Liquidators?

[Maceman]

Sounds like the same thing they did to Gibson Guitars. If so, this is another Obama administration political shakedown.

[Joe 6-pack]

Lumber Liquidators buys (or at least used to buy) a lot of ad time on conservative talk radio...

...coincidence?

[Still Thinking]

What did they do? Advertise on Limbaugh?

[Responsibility2nd]

Yup. Sounds like Lumber Liquidators are conservative Tea Party types.

And they were targeted.

[Uncle Chip]

They found spotted owl excrement on one of the boards.

[USMCPOP]

Interesting. I’ve been in their HQ/warehouse in Toano, VA doing some IT-related work. It’s on John Deere Rd. and used to be a Deere lawnmower plant or some such.

[Bloody Sam Roberts]

Same crap as what happened at Gibson Guitars. Enviro-Nazis getting pissed off because some American company is using supposedly 'protected' wood species.

"We don't care about the trees really. We'll just be happy to ruin your company."

I wonder what they did to pee off The Regime? Donate to Romney?

[struggle]

They frequently advertise on conservative radio stations.

[Attention Surplus Disorder]

Harry Reid was short.

[Chickensoup]

Call and write your support. They will need it. The totalitarians are out conservative-hunting.

[Navy Patriot]

I wonder if the dirt floors in your government housing project will eventually be environmentally protected?

[Montanabound]

Wow - the president of LL was on Varney recently and said he hosted a fundraiser for Obama. Must not have collected enough $$.

[inpajamas]

"Lumber Liquidators buys (or at least used to buy) a lot of ad time on conservative talk radio... ...coincidence?"

BINGO!

[Buckeye McFrog]

isn’t the answer obvious?....they sponsor Limbaugh!

[JediJones]

Wanna buy some wood?