December Decline in Home Prices Sets a Record
New York, NY, February 26, 2008--Home prices fell in December by the most on record, according to the S&P/Case-Shiller home-price index.
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.
Samling To Acquire Chinese Hardwood Maker
Hong Kong, China, February 26, 2008--Timber firm Samling Global Ltd said it will acquire Elegant Living (HK) Ltd, Elegant Living International Holding Ltd and New Elegant Living Timber Manufacturing (Zhongshan) Ltd for $38.3 million
Wholesale Price Jump 1% in January
Washington, DC, February 26, 2008 – Wholesale inflation soared 1 percent in January due to higher costs for food, energy and medicine, according to the Labor Department.
South African Flooring Firm on Acquisition Trail
Johannesburg, South Africa, February 26, 2008--Resilient and rubber flooring maker Safic Holdings is on the acquisition trail as it plans to benefit from increased government infrastructure spending and exports to other African countries this year.
Lowe's Earnings Plummet in Fourth Quarter
Mooresville, N.C., February 25, 2008-- Lowe's said fourth quarter earnings declined 33.4 percent over a year ago. The world's second largest home improvement retailer reported net earnings of $408 million for the quarter ended Feb. 1.
Home Resales Fall in January, Slowest Since 1999
Washington, DC, February 25, 2008—Sales of existing U.S. homes and condos fell 0.4 percent in January to a seasonally adjusted annual rate of 4.89 million, according to the National Association of Realtors.
Fiber Maker Wellman Files for Bankruptcy
Fort Mill, S.C., Feb 25, 2008 -- Fiber maker Wellman Inc. has filed for Chapter 11 bankruptcy protection. The company said cost cutting and other measures were insufficient.
Hibernia Names Scharff VP Sales and Marketing
Whittier, CA, February 25, 2008—Eric Scharff has been appointed vice president of sales and marketing for Hibernia Woolen Mills, a supplier of wool carpets and a Wools of New Zealand brand partner.
Karastan Features Preston in National Ad Campaign
Atlanta, GA, February 20, 2008—Actress Kelly Preston will star in the 2008 “Make a Statement” national ad campaign for Karastan carpets and rugs.
Housing Measures on Tap in Washington This Week
Washington, DC, February 25, 2008--Homeowners on the verge of bankruptcy or foreclosure could get relief from Congress this week.