Foamex Credit Rating Cut by S&P
New York, NY, February 15, 2008--Standard & Poor's Ratings Services has cut the corporate credit rating on Foamex LP to 'B-' from 'B' and placed the rating on negative watch.
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.
Mohawk Earnings Rise on One Time Tax Benefit
Calhoun, GA, February 13, 2008--Net income for Mohawk Industries Inc. fell in the fourth quarter compared to a year ago. The company reported net income of $107.5 million, or $1.57 per share compare to $129.5 million and $1.90 per share a year ago.
Propex Gets Approval To Use Loan for Operations
Chattanooga, TN, February 14, 2008--Propex Inc. won final court approval Wednesday to use all of its $60 million loan to keep its manufacturing business operational during its Chapter 11 bankruptcy case.
Mohawk Group Names Perkins Sustainability Director
Kennesaw, GA, February 14, 2008 –Lewis Perkins has been named director of sustainable strategies for the Mohawk Group.
Bernanke Hints at More Rate Cuts
Washington, DC, February 14, 2008--Federal Reserve Chairman Ben Bernanke the economy has deteriorated and hinted that the central bank is ready to keep on lowering interest rates.
Homebuilding Not Likely to Rebound This Year
Orlando, FL, February 13, 2008-- Housing starts could drop another 30 percent in 2008, matching last year’s sharp drop, according to a forecast by the National Association of Home Builders presented at the organization’s annual convention.
Initial Jobless Claims Fall in Week
Washington, DC, February 14, 2008--First-time jobless claims fell for the second consecutive week, after a large increase late last month, the Labor Department reported Thursday.
Shaw Planning Aggressive Spring Advertising
Dalton, Ga. –February 13, 2008- Shaw is planning aggressive national television, print and web advertising and, for retailers, the Spring is Green promotion.
Stock Prices Belie Homebuilders' Performance
New York, NY, February 14, 2008--You'd never know the homebuilding segment is in the doldrums by looking at stock performance.
Solutia Seeks Citi Testimony on Exit Financing
Philadelphia, PA, February 13, 2008 — Solutia Inc. wants to force Citigroup Inc. Chief Executive Vikram Pandit to answer questions about his firm's decision to back out of $2 billion worth of promised Chapter 11 exit financing.