May 23, 2013

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Household Wealth Nearly Back to 2007 Levels

Washington, DC, March 8, 2013 -- Household wealth in the U.S. climbed in the fourth quarter and is nearly back to 2007 levels, according to the Federal Reserve.

The Fed's flow of funds report indicated that net worth increased by $1.17 trillion from October through December, or 1.8 percent from the previous three months, to $66.1 trillion.

Household net worth peaked at $67.4 trillion in the third quarter of 2007.

                                                                                                 

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Other Archived Articles

Pergo Gets Favorable Patent Ruling in Sweden   Full Article Dallas, May 8, 2013 –- The Swedish Court of Appeals has overturned a ruling that had invalidated a Pergo patent related to so-called fold-down flooring planks.

Mattex To Build Manufacturing Facility in Georgia   Full Article Atlanta, GA, May 8, 2013 -- Mattex, a Dubai and Saudi Arabian carpet backings producer, will expand its operations in North Georgia by building an extrusion manufacturing plant in Murray County.

Centiva Awards School Innovation Grant   Full Article Florence, AL, May 8, 2013 -- Resilient maker Centiva said that Delores T. Aaron Elementary in New Orleans is the recipient of its Centiva Green School Innovation Grant for the 2013-2014 school year.

USFContract Named Fuse Alliance Supplier   Full Article Aurora, CO, May 8, 2013 -- The Fuse Alliance said that USFContract is its newest preferred supplier.

Former BPS CEO Minite Gets New Job   Full Article Santa Fe Springs, CA, May 8, 2013 -- Former Bentley Prince Street CEO has been named president and general manager of a new company, Paralleltek.

Shamrock Plank Flooring To Add Manufacturing   Full Article Memphis, TN, May 8, 2013 -- Shamrock Plank Flooring, a division of J.T. Shannon Lumber, is expanding its presence in North Mississippi by adding new manufacturing operations in a 62,900 square-foot facility.

Job Postings Decline in March   Full Article Washington, DC, May 8, 2013 -- Employers posted fewer job openings in March compared with February, according to the Labor Department.

Starnet Honors Design Awards Winners   Full Article Darien, CT, May 8, 2013 -- — Starnet Worldwide Commercial Flooring recently honored 14 members in the 13th Annual Starnet Design Awards.

Consolidated Carpet Wins Starnet Awards   Full Article New York, NY, May 7, 2013 -– Consolidated Carpet said it won two Starnet Design Awards at the 2013 annual awards event.

Internet Sales Tax Bill Goes to Conservative House   Full Article Washington, DC, May 7, 2013 -- Although the Senate voted overwhelmingly to pass a bill to empower states to collect sales taxes from Internet purchases, the bill faces a much more uncertain future in the House.

Improving Housing Markets List Ticks Down   Full Article Washington, DC, May 7, 2013 -- The number of U.S. housing markets showing sustained improvement fell slightly to 258 in May from 273 in April, according to the National Association of Home Builders/First American Improving Markets Index.

Mannington Files Appeal in Home Legend Dispute   Full Article Rome, GA, May 6, 2013 -- Mannington Mills in April was handed a setback in a copyright-infringement dispute with laminate maker Home Legend over a line of maple-look laminate.

GSA Committee Recommends LEED as Measure   Full Article Washington, DC, May 6, 2013 -- The Green Building Advisory Committee has officially recommended that the LEED green building certification system be used for all GSA buildings as the best measure of building efficiency.

Mohawk's Wright Named Chairman of Two Groups   Full Article Amelia Island, FL, May 6, 2013 -- The Georgia Association of Manufacturers and the Manufacturers Education Foundation each elected new officers and board members at the 113th Annual Meeting of GAM and the 70th Annual Meeting of MEF.

First-Time Delinquencies Lowest in Six Years   Full Article New York, NY, May 6, 2013 -- First-time delinquent home loans fell to 0.84% of the 50.2 million mortgages in March, according to Lender Processing Services.

Services Sector Expands at Slower Pace in April   Full Article Washington, DC, May 3, 2013 -- The services sector of the economy expanded at a slower pace in April than March, according to the Institute for Supply Management.

Factory Orders Decline More Than Expected   Full Article Washington, DC, May 3, 2013 -- Factory orders fell 4% in March, the Commerce Department reported Friday.

Mohawk Completes Spano Acquisition   Full Article Calhoun, GA, May 3, 2013 -- Mohawk Industries said it has completed the acquisition of Spano Group, a Belgian panel board manufacturer.

Number of Jobs Rises, Unemployment Rate Falls   Full Article Washington, DC, May 3, 2013 -- Employers created 165,000 jobs in April and the unemployment rate fell to 7.5% from 7.6%, according to the Labor Department.

Tile Shop Holdings Reports Higher Sales   Full Article Minneapolis, MN, May 3, 2013 -- Tile Shop Holdings reported a net loss of $44.7 million in the first quarter, compared to net income a year ago of $10.1 million.