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Transcripts For CNBC The Profit 20240711

Of grafton furniture. Your grandfather was here. Now your father is here. And if you dont get the quality right, this business wont be here for you. Miami is my hometown, and its also home to over a million cubanamericans. Since the castro revolution, cuban families have come here to build their homes and their businesses. They bring their culture while embracing something that is distinctly american the American Dream. Grafton furniture is a shining example. Started in 1964 by esteban grafton, the Custom Manufacturing Company Makes everything from sofas, chairs, to tables. Steve this ones 154 by 96. Lemonis his son steve now runs the business and designs most of the furniture and is 50 50 partners with his wife, mary. Their son, also steve, is there to learn the business and keep it going for another generation. But when the economy turned in 2009, so did the companys fortunes. Steve the market was soft. Finances were really bad. Lemonis when business slowed, the company and the famil

Transcripts For CNBC The Profit 20240712

My name is Marcus Lemonis. And i risk my own money to save struggling businesses. Were not going to wake up every morning wondering if we have a job. Were going to wake up every morning wondering how many jobs we have to do. Its not always pretty. Everythings going to change. Everything. But i do it to save jobs and i do it to make money. This. Lets go to work. Is the profit. In 1979, shortly after immigrating to the United States from mexico, Gilbert Martinez opened up Pacific Hospitality design, a commercial Furniture Manufacturing Company located just outside los angeles. Ana so far, so good. Thats good. Lemonis it was a true Family Business with gilberts daughter ana growing up on the shop floor. Ana this one here. Lemonis these days, she oversees design, while her father oversees production. And over the years, theyve built big accounts with Companies Like the coffee bean, mgm, and caesars entertainment. Ana weve got to make sure that we send quality stuff. Theyre unhappy because

Transcripts For CNBC The Profit 20240712

I gave the place a massive facelift. Looks great. Man unbelievable. Lemonis and i gave the employees a 25 equity stake. You now have more ownership and authority than he does. But after seeing real growth, some parts of the business are now struggling. Dan we have 6,000 square feet. It is not busy enough. Lemonis and the problem may just be the staff. Why does he still work here . Dan its like pulling teeth to get him to do anything. Lemonis remember shulers . A tiny little roadside barbecue restaurant in South Carolina . Norton if the fat aint dripping on the coals, its not barbecue. Lemonis its still got charm, but its no longer so tiny. Oh, my gosh. I made one of my biggest investments. Its gonna be about 1. 9 million. But now the business may be so big that it might just be overwhelming my partners. You guys have zero experience in setting up a retail store. Zero. Ibuenos dias all ibuenos dias lemonis im back in miami to visit grafton, a fatherandson furniture business that looked

Transcripts For FBC The Claman Countdown 20240712

Of a point, call that flat. The gains in the techheavy nasdaq are way more interesting in this final hour because they come about an hour and a half after the department of justice hoisted a sword of damocles over the social media sector. The doj has proposed new legislation that would make Silicon Valley giants from twitter to facebook to google liable for content thats posted online that violates federal law. Our floor show traders are here to tell us if doj danger is now the cue for you to take your tech profits and run. The Housing Market in full bloom as States Reopen and wouldbe homeowners resume their quest to fulfill part of the american dream. The ceo of mortgage Lending Software giant reveals what hes seeing in the Mortgage Market as rates remain at historic lows. Time to refi . Well ask. General motors flips the script from making cars to transmissions to medical supplies needed to fight the coronavirus pandemic. How about that. Well, the chief engineer running gms productio

Transcripts For CNBC The Profit 20240712

Your grandfather was here. Now your father is here. And if you dont get the quality right, this business wont be here for you. Miami is my hometown, and its also home to over a million cubanamericans. Since the castro revolution, cuban families have come here to build their homes and their businesses. They bring their culture while embracing something that is distinctly american the American Dream. Grafton furniture is a shining example. Started in 1964 by esteban grafton, the Custom Manufacturing Company Makes everything from sofas, chairs, to tables. Steve this ones 154 by 96. Lemonis his son steve now runs the business and designs most of the furniture and is 50 50 partners with his wife, mary. Their son, also steve, is there to learn the business and keep it going for another generation. But when the economy turned in 2009, so did the companys fortunes. Steve the market was soft. Finances were really bad. Lemonis when business slowed, the company and the family began piling up debt

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