Where is the closest lumber liquidators

The chemical is present in some of the cheap glues used in factories like this one in China. This footage was recorded by investigators hired by 60 Minutes.

Formaldehyde is in the glues used to bind wood particles together to make the core boards in laminate flooring. The laminated top, which covers the core board, keeps most of the formaldehyde emissions trapped inside. But formaldehyde does leak into the air. How much is inhaled by homeowners depends on how much formaldehyde is in the glue and how much ventilation is in the home. Denny Larson: You're in a chamber so you're living with it. You're sleeping in there.

And you're constantly exposed. That's the threat. The constant exposure to a potent carcinogen over a long period of time. Because formaldehyde can cause myeloid leukemia and nasopharyngeal cancer at high levels and respiratory issues as well as eye, nose and throat irritation at even low levels, California has strict standards for how much of the chemical the core boards in laminate flooring can emit.

Congress adopted California's limits when it passed the Formaldehyde Standards Act in That law is scheduled to take effect nationwide this year. Drury and Larson only had wood tested that was being sold in California. But we wondered if the Chinese-made laminate flooring that Lumber Liquidators is selling nationwide also has high levels of formaldehyde.

We sent the samples for testing at two certified labs. It turns out of the 31 samples of Chinese-made laminate flooring, only one was compliant with formaldehyde emissions standards. Some were more than 13x over the California limit. Both labs told us they had never seen formaldehyde levels that high.

But when we took those test results to Lumber Liquidators' founder and chairman Tom Sullivan, he refused to accept the methodology as valid and points out the company is not required by law to test their finished products like we did. Anderson Coooper: You say you don't believe in this test, but what you believe doesn't really matter. It's what CARB believes. And they believe in this test. Anderson Cooper: I just don't understand how a group can do tests on your Chinese-made laminates and every single one of those failed to meet the emissions standards.

Tom Sullivan: People have different reasons for this test. This is a group of lawyers who are suing us, selling short on our stock. One of the first people to raise questions about Lumber Liquidators back in was Whitney Tilson, a Wall Street hedge fund manager. He has shorted the company's stock but is not involved in any lawsuit against it. Whitney Tilson: In 16 years of professional money management, I've seen hundreds of companies do all sorts of bad things to get their stock prices up.

But this has got to be the worst. Whitney Tilson studies the workings of companies he's interested in investing in and he noticed the profit margins at Lumber Liquidators seemed unusually high compared to its competitors.

Whitney Tilson: When you see a commodity business suddenly double its profit margins, that raises red flags. Tilson suspected the company might be breaking the law. He learned they were under federal investigation for allegedly buying timber illegally logged in Russia. The company denies buying illegally logged wood but announced just this week the Department of Justice may file criminal charges against them.

Six months after he bet millions the stock would go down, Whitney Tilson got tipped off by someone familiar with Lumber Liquidators' operations' in China, who said he was missing the bigger story. Whitney Tilson: The much bigger story, he said is that Lumber Liquidators was almost certainly purchasing formaldehyde-tainted laminated flooring in China.

Whitney Tilson: The answer is greed. See also: Your hardwood floor may have been harvested illegally. As far as the housing market is concerned, analysts are expecting positive housing trends to be a tailwind for now, but, with the cycle seeming to be in its late stages, that support may be short term. See: Here are the home upgrades with the best bang for the buck. Negative headlines have come in rapid fire for the company in recent weeks—and it dramatically missed sales estimates for the third quarter.

Lumber Liquidators stock slammed by downgrade as analysts suggest name change Published: Jan. ET By Ciara Linnane. Kennedy, Jr.

Rinearson and Andrew M. Adler What is an organization required to do in Europe if it engages in Zetoony Computing on the Edge by: Robert M. Kamer and Aubrey A. Slack and Peter A. Paolillo and Ellen L. Mitchell and F. Delaney and Kristina M. Kahlon and Aron C.

Thomas and Michael P. Neifach and Otieno B. Porzio and Joshua S. Bryan What a Deal! Ferrante and Nathaniel M. Porzio and Elizabeth A. Article By. Cancel Continue. Make up to three selections, then save. Save Clear. Markit short selling activity Low. Open Average volume All markets data located on FT.