Episode 1851
Home Improvement News: True Value's Bankruptcy and Community Impact
True Value hardware has recently filed for Chapter 11 bankruptcy, raising concerns about the state of local home improvement stores. Despite this troubling news, Eric G. reassures listeners that most local True Value stores remain open and operating, emphasizing the importance of supporting these small businesses in your community. As the home improvement landscape shifts, Eric discusses the broader implications for the economy and the challenges faced by retailers. He also shares practical advice for homeowners, particularly regarding gutter maintenance and stormwater management as fall approaches. Tune in as Eric provides insights on how to keep your home in top shape while advocating for local businesses during these uncertain times.
The podcast dives into a critical moment for the home improvement industry as Eric G. discusses the recent Chapter 11 bankruptcy filing by a well-known home improvement retailer. This event, impacting over 4,500 locations, raises alarms about the changing dynamics of retail in this sector. Eric, however, assures listeners that local True Value stores, which are independently operated, remain in good standing and are ready to meet the needs of their communities. He emphasizes the vital role these local stores play in the economy, suggesting that listeners should make a concerted effort to shop locally rather than defaulting to the convenience of big-box retailers. This call to action is not just about supporting businesses; it’s about fostering community ties and investing in local economies that truly reflect the spirit of neighborhood collaboration.
As the episode progresses, Eric shifts focus to practical home maintenance advice, particularly relevant as the fall season approaches. He outlines the importance of addressing gutter and drainage issues, especially with the increased rainfall that typically accompanies autumn. Eric shares detailed instructions on how homeowners can assess their drainage systems and implement solutions to direct water away from their foundations, thereby preventing potential damage. He stresses the need for proactive maintenance and suggests various approaches to managing rainwater effectively, ensuring that homes remain safe and sound through the changing seasons.
Finally, the podcast wraps up with an engaging discussion about community engagement and the importance of maintaining local infrastructure. Eric encourages listeners to take an active role in their neighborhoods, whether by supporting local hardware stores, participating in community events, or simply being mindful of their surroundings. By tying together the themes of economic support and home maintenance, the episode presents a holistic view of what it means to be a responsible homeowner and community member, leaving listeners with a sense of empowerment and a clear understanding of how they can make a positive impact.
Takeaways:
- True Value has filed for Chapter 11 bankruptcy, affecting only their parent company.
- Local True Value stores remain operational, emphasizing the importance of supporting local businesses.
- The bankruptcy highlights challenges faced by home improvement retailers in the current economy.
- Listeners are encouraged to check gutters and downspouts to prevent home foundation issues.
- Rainwater management is critical; ensure water drains away from your home's foundation.
- Upcoming episodes will feature an award-winning interior designer sharing tips on home finishes.
Companies mentioned in this episode:
- True Value
- Do it Best Hardware
- Ace Hardware
To get your questions answered by Eric G give us a call in the studio at 833-239-4144 24/7 and Eric G will get back to you and answer your question and you might end up in a future episode of Around the House.
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Information given on the Around the House Show should not be considered construction or design advice for your specific project, nor is it intended to replace consulting at your home or jobsite by a building professional. The views and opinions expressed by those interviewed on the podcast are those of the guests and do not necessarily reflect the views and opinions of the Around the House Show.
Mentioned in this episode:
Monument Grills
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Transcript
It's around the house.
Eric G.:When it comes to remodeling and renovating your home, there is a lot to know.
Eric G.:But we've got you covered.
Eric G.:This is around the house.
Eric G.:Welcome to the round the house show, the next generation of home improvement.
Eric G.:I'm Eric G.
Eric G.:Thanks for joining me today.
Eric G.:This is our midweek special.
Eric G.:This is that update we give every time in the middle of the week so we can get you the right information that's happening that might not made it into last week's show and is it gonna make it into next week's show.
Eric G.:And we got an interesting one today.
Eric G.:A company that we all know as a brand across the United States just filed for chapter eleven bankruptcy.
Eric G.:Home improvement store.
Eric G.:4500 locations.
Eric G.:That's bad news.
Eric G.:But here's the good news.
Eric G.:True value only owns one store out there in Illinois.
Eric G.:So all of our other local stores out there that are corner hardware stores are still in business.
Eric G.:So the cool thing is, is that please take your time, go out and help these guys out.
Eric G.:This is your local home improvement store.
Eric G.:These guys are local mom pops to your neighbor down the street that owns this place in many locations and their parent company is going under.
Eric G.:And it talks a lot about where our economy is right now.
Eric G.:We're seeing home improvement chains and retailers across the board go under.
Eric G.:So the good news is, is that the parent company looks like it has a buyer lined up and that is do it best hardware.
Eric G.:So I would assume they're just going to take it over.
Eric G.:The true value name is such a big name.
Eric G.:I don't think I'd ever see him change that.
Eric G.:It'd be pretty foolish.
Eric G.:But the good news is, is that your local true value store is still gonna be in business.
Eric G.:So do these guys a favor.
Eric G.:Maybe instead of going to the big box store, head down there, say hi to those folks, give them a little bit of your business.
Eric G.:And if the brand that you want is over at the big box store, go ahead and do it.
Eric G.:But really support your local community.
Eric G.:Support those local businesses.
Eric G.:Cause those are jobs and money that goes into your community and that really helps everybody out.
Eric G.:So support local.
Eric G.:Make sure you head down to your local true value.
Eric G.:I like the ace guys.
Eric G.:Well, so there's no, no harm, no foul there.
Eric G.:But closest place I have to my house, the true value.
Eric G.:And guess what?
Eric G.:I go in there all the time.
Eric G.:Cause it's easy, it's close, and it's 10% of the difference to my big box retailer.
Eric G.:So I want to give them the business and it's just nice to see the same people in there every single day and to have that personal relationship with your local store because you're just members in your community.
Eric G.:So take a little time, give them some support and help those guys out.
Eric G.:The parent company, they're going to get that figured out.
Eric G.:They're obviously restructuring debt.
Eric G.:I don't think we'll see that name go anywhere, but make sure you support your local true value store.
Eric G.:So good news, bad news.
Eric G.:Happy that it's not affecting the local places right now.
Eric G.:So that's an important one.
Eric G.:As far as recalls out there right now, there's not a lot of stuff going on out there.
Eric G.:There's some atv's and outdoor stuff like that, but not really anything home improvement other than maybe a fisher price little rocker for kids that you should pay attention to if you have little ones.
Eric G.:So that's pretty good on the front there.
Eric G.:The other thing is, this time of year is a good time as the leaves are falling across at least most of the United States, across the northern, probably two thirds.
Eric G.:We're getting into fall here where we're going to see leaves dropping, all that stuff.
Eric G.:This is the time of year when we get fall rains and big storms.
Eric G.:Make sure that you're keeping those things out of the gutters.
Eric G.:Make sure you walk around your house on a big rainstorm and see what's going on.
Eric G.:If it's safe out there, not a lightning storm, walk around and make sure the cutters are working right, that the downspouts go down, but that water is getting at least 10ft away from the house.
Eric G.:If it's dropping right next to the foundation, that just means you got a home improvement project to do.
Eric G.:I would get three or four inch pvc abs and run a storm drain system from that downspout out and at least 10ft away and downhill from the home.
Eric G.:And then you can put it either into a drywall or let it run down across the yard or whatever.
Eric G.:Just be careful.
Eric G.:If you get it too far close to the front of the street, that could be an issue with your local city.
Eric G.:Some cities want you to put it out there in their storm drain system.
Eric G.:Some don't want the water going across the sidewalk, some it doesn't matter.
Eric G.:You can capture it and do whatever you want.
Eric G.:Just remember, if you're capturing rainwater, do it away from the base of the foundation of the home.
Eric G.:I've seen way too many foundation damage quotes being done out there because people put big tanks next to their house when they have a basement.
Eric G.:Guess what?
Eric G.:That'll push that basement wall in, and then you've got a crack foundation and an expensive fix.
Eric G.:It would have been cheaper to buy water by the bottle than to do that.
Eric G.:So just be careful, guys, where you put that location.
Eric G.:If you're going to reuse rainwater and go that route about it, just keep it away from the building.
Eric G.:That way you're good to go.
Eric G.:And these downspouts can really add up.
Eric G.:If you get an inch of rain, that could be 50 to 100 gallons of water coming out of that just into one downspout.
Eric G.:So careful.
Eric G.:If you put 150 gallon drum there and don't watch it, that could overflow and then cause other issues.
Eric G.:So plan your water accordingly.
Eric G.:Make sure there's some overflows, that kind of stuff, if you're going to store it or just make sure you're managing it correctly.
Eric G.:That's a big one right there.
Eric G.:In other news, I tell you what, just take some time and make sure that your streets are cleaned up out there.
Eric G.:If you have.
Eric G.:If you're in a city or you've got curbs and stuff like that, and you've got storm drain systems, make sure you got those cleaned up and everything's working great.
Eric G.:If you do have those gutters that go down under the.
Eric G.:Through the sidewalk and into the street, like some communities do, I've got a neighbor up the street here that has it in their place.
Eric G.:When I walk in the rain out there, when I'm walking the dogs, I don't want to take them to the dog park in the mud.
Eric G.:Guess what?
Eric G.:Most of those are clogged up.
Eric G.:So that storm drain system, you should be cleaning out, probably every four or five years, have a plumbing come out and hydrojet that and make sure that's working really good.
Eric G.:That's just maintenance.
Eric G.:It's like cleaning up dryer ducks.
Eric G.:You just got to do it every few years and make sure it's working correctly.
Eric G.:That way, if there's any roots in there, you're not backing stuff up into a crawl space basement or causing other foundation damage, because that will happen, and that's a big one right there.
Eric G.:In other news, I want you to make sure I've got a series coming up this week that I'm posting on social media, especially on our facebook page.
Eric G.:I took what was our little cover deck.
Eric G.:It was not a cover deck.
Eric G.:It's our actual deck off our master bedroom.
Eric G.:And I thought, okay, how do we make this usable most of the year round?
Eric G.:Because the problem was with my big trees, ended up going through there and it was so dirty all the time, stuff would blow out of the trees and it was just such a big deal to clean it.
Eric G.:We never used it.
Eric G.:And so what happens is I came in and put a really cool cover in and it looks like glass up there.
Eric G.:It's so clear, it's awesome.
Eric G.:And it gives us the feeling of being outside.
Eric G.:But any rain, pine needles, whatever, runs right off of it and it stays clean.
Eric G.:So that's been a really cool addition.
Eric G.: Then I had that: Eric G.:And then I went through and put in some motorized smart bluetooth, automatic blinds.
Eric G.:And so now I can hit a button.
Eric G.:They'll move up and down, even the tall one.
Eric G.:I've got a high vaulted ceiling in the bedroom, so there's a window that's 910ft high up there off the ground.
Eric G.:Didn't want to put in those big cables and stuff, so I put in all new motorized blinds and I show you how to do it in this episodes coming up here.
Eric G.:So I'm going to post those up on social media here starting today and that way you can take a look at those and I'll just post them up on Facebook.
Eric G.:Look for the around the house show.
Eric G.:Make sure you follow us.
Eric G.:We'll also put it up in around the house nation and show it as a series.
Eric G.:So if you are a Facebook user out there, find around the house nation.
Eric G.:That is our closed group where we all jump in and have some fun in there and really do some good stuff over there and people can help you out.
Eric G.:So if you've got a project you're working on or want some comments, a lot of helpful people over there, some people you've even seen on tv shows, on home and Garden TV, Discovery Network, those kind of places, a and e, those people are in the audience, so you might even get somebody famous helping you out, which is always a lot of fun.
Eric G.:All right, guys, I'm going to keep this pretty short today.
Eric G.:Not going to be one of these deep ones.
Eric G.:We want a great show coming up this weekend.
Eric G.:We're going to be talking to an interior designer who's super famous, who I love talking with.
Eric G.:She's an award winning interior designer.
Eric G.:We're going to talk about her tricks and tips, and then we're going to talk about finishes in the second hour where we're going to be talking about all the tricks and tips, painting inside and out.
Eric G.:What are the great things to do with finishes we'll even talk a little bit of wallpaper real quick, just for you people that want to start tackling a wallpaper.
Eric G.:All right, guys, I'm Eric G.
Eric G.:Thanks for tuning in.
Eric G.:Make sure you follow us on YouTube as well.
Eric G.:Thanks for tuning in around the house.
Eric G.:We'll see you Saturday.
Eric G.:Somewhere unseen and undiscovered anywhere out beyond the meme love is a love song let's be lovers we're all over the radio I know where to go all over the radio with.
