SBA Lending Falls Dramatically from Last Year
Washington, DC, Oct. 5, 2009--The Small Business Administration ended its 2009 fiscal year on Wednesday and the agency approved less than 45,000 loans, down 36% compared to last year and 56% from 2007.
Today's Flooring News
Keep up to date with the most recent news in the flooring industry. Today's News...As it happens! We update this news several times a day so you can stay connected.
California Retailer Files Chapter 11 Bankruptcy
Fresno, CA, Oct. 2, 2009--One of the oldest and best-known floor-covering retailers in the central San Joaquin Valley has filed for bankruptcy.
Mortgage Rates Fall, 15-Year Hits Two Decade Low
Washington, DC, Oct. 2, 2009--The average rate on 30-year fixed-rate mortgages fell this week below 5% to a four-month low, according to Freddie Mac's weekly survey.
Formica Flooring Adds Southeast Distributor
Barnwell, SC, Oct. 2, 2009--Formica Flooring said that A&M Supply Corporation will distribute its products throughout North Carolina, South Carolina, Georgia, Alabama and Tennessee.
Tau Buys Porcelanatto Trademark
Castellon, Spain, Oct. 2, 2009--Tau has acquired the Porcelanatto trademark for its worldwide commercial use.
Nourison Promotes Three to Executive Positions
Saddlebrook, NJ, Oct. 2, 2009--Nourison Industries has promoted three Nourison executives to new positions.
Tender Offer for Armstrong Shares Falls Short
Fort Worth, TX, Oct. 2, 2009--Armor TPG Holdings LLC said it has completed a tender offer to purchase up to 4,435,935 shares of common stock of Armstrong World Industries.
UK Vinyl Recycling Program Gets Underway
London, England, Oct. 2, 2009--A vinyl recycling program in the United Kingdom has been launched by a joint venture of Polyflor and Altro.
Unemployment Ticks Up Again in September
Washington, DC, Oct. 2, 2009--The U.S. employment rolls weakened in September as 263,000 payroll jobs were lost and the unemployment rate rose to a 26-year high of 9.8%, the Labor Department reported.
New Factory Orders Down in August
Washington, DC, Oct. 2, 2009--New orders to U.S. factories fell in August by the largest amount in five months, according to the Commerce Department.