You're watching...
Weekend with Warren: Shaw Industries CEO Vance Bell on managing business while facing economic headwinds.
Also in this playlist...
Auto-advance: ON
Auto-advance
This transcript is automatically generated
Almost and we do have seventy plus businesses -- -- last year although it did well.
Except in the residential construction field and this year Olympian.
Recognize that's at the -- -- question.
Head of this weekend's annual Berkshire Hathaway shareholder meeting an hour at this -- is in -- behind speaking with the manager of one of those residential housing related companies.
Hoping for a housing recovery.
Hoping yes but you know I know you -- know this week just got data out that show that home ownership is it.
Fifteen year -- so let's bring in.
The CEO of Shaw carpet the world's largest shot industries is the world's largest carpet manufacturer.
On the planet earth so we are thrilled to have been -- thank you for joining us this.
Listen give us the sense -- in the trenches.
Well it's a very slow process.
Last five quarters our sales have been in the -- Single digits but we really haven't gotten -- the housing turnaround that we keep looking for muscle large part of our business.
Percent of our industry and our business.
We'll have more than one headwind not only do you have a bad economy and -- -- the jobless numbers today the jobs numbers which we did see creation of a hundred.
151000.
Job nowhere near what people have really hope to see but you also have.
Higher energy prices -- today -- was finally below a hundred dollars a barrel here of their depending on what you're looking at tape but.
This to head winds.
How would you continuing to do business and and make money you little lacquered Buffett talk about -- last night well we've we've learned to manage the we'll call we've had the past some of those awful long and pricing.
But actually the natural gas from this.
From the help moderate.
Some energy costs for all manufacturers so quickly if -- just let me clarify here lower natural gas costs are helping you manage your energy usage.
-- you have an energy intensive company here but what do you use natural gas work -- from.
-- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- The small offset but it does they'll they'll support we have some of your products here and if you had to break down your business because they're not just in residential housing but you're also in other parts of -- commercial right.
One thing that looks better or slightly coming back well our commercial business that goes and the corporate office buildings health care facilities in.
Business a modular carpet tile is our fastest growing segment has been very positive double digits over the last year -- As I ask you whether you're hiring we we have some numbers.
2006.
You have 31000.
Plus employees.
Last year 22000.
-- If you are hiring at all now or is it still extraordinarily tough to even bring on -- a single employee paying benefits health -- -- prevalent well the good news over the last few months we've actually brought back 15100.
Of those.
That we have to downsize.
I think you.
-- people in line with the housing activity or general economic activity to improve before we would see those numbers -- That's -- was the CEO of Shaw industries in a fox.
But manufactured thank you find -- for joining us.
Ladies I'm gonna send it back to you but that this is its biggest seller among them and this is of course for commercial.
Real estate so at least something is doing well now -- plans.
