U.S. trade with the world has increased 24.23 percent this year over 2009 but remains 11.77 percent below the record-breaking numbers of 2008, according to WorldCity analysis of U.S. Census Bureau data released July 13. The United States is nevertheless on track to record the second greatest total in U.S. history. (See the Top_25_Trading_Partners.xls and Top_25_U.S._Customs_districts.xls. Through May, U.S. trade was valued at 1.24 trillion, up from $998.84 billion in the first five months of 2009 but down from the record $1.41 trillion in 2008. Imports are growing more quickly… Read More
WorldCity
South Florida Executives
Koenig's City Furniture oversees a $240 million business
Keith Koenig
City Furniture President
Keith Koenig, the co-founder and president of Fort Lauderdale-based City Furniture, one of the nation’s largest furniture retailers will be one of the featured speakers at WorldCity’s quarterly Trade Connections event on June 17.
City Furniture, with 24 stories in the southern half of the state, including eight Ashley Furniture stores, now buys about 75 percent of its merchandise from China, but that’s down from 90 percent a few years ago. Due to anti-dumping cases and other regulatory issues, City Furniture as well as other importers have begun looking to Vietnam, Indonesia and other markets.
“Well intended government actions are generally a boondoggle,” Koenig said in an interview. “It takes an educated perspective to understand that true trade is so valuable. Barriers very frequently (lead to) the laws of intended consequences and rarely solve the problems.”
The company brings in about 60 containers of furniture per week, into either Port Everglades of the Port of Miami, Koenig said, and has a 900,000 square foot warehouse in central Broward County.
The company is adding two more City Furniture stores, while closing three smaller ones, and adding three Ashley Furniture stores.
“We just show up to work every day and it’s been fun,” said Koenig of the business, which employs 820 people. “It’s a little more fun when the business is growing but (the tough economy) has made us manage our business better.”
At the WorldCity TradeConnections event, Koenig will be joined by Tony Ojeda, the executive director of the International Trade Consortium of Miami-Dade County, and Peter Quinter, a Customs attorney with Becker & Poliakoff. WorldCity will also release its ninth annual Miami TradeNumbers publication at the event. To register, click here.
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