UK’s Stoddard Goes Into Receivership
Kilmarnock, Scotland, January 6—-Stoddard International went into receivership on Thursday after failing to secure a last-ditch financial lifeline from its bankers according to business.scotsman.com.
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.
Homebuilders: Multifamily Housing Trending Up
Washington, DC, January 6--Apartment and condo builders are optimistic that the multifamily housing market will continue to strengthen over the next six months, according to the latest Multifamily Market Index.
Business Community Displeased with Draft Asbestos
Washington, DC, January 6--Businesses facing asbestos claims are chafing at the latest draft bill aimed at limiting their liability, even as President George W. Bush on Wednesday increased pressure on parties to broker a deal.
Retailers' December Sales Up
New York, NY, January 6—-The nation’s top retailers including Wal-Mart, Federated Department Stores and Best Buy posted December sales gains after steep discounts spurred a late surge in holiday shopping.
Weekly Jobless Claims Up on Seasonal Factors
Washington, DC, January 6--Initial jobless claims jumped unexpectedly last week by 43,000, taking claims to their highest level since late September, a government report showed on Thursday -- but an official noted there were seasonal adjustment difficulti
Flooring Adventures Intros Interlocking Tiles
Richmond, VA, January 6-- Flooring Adventures LLC has launched Tuff-Seal, a new line of vinyl interlocking floor tiles for commercial and residential use. The tiles contain a patented hidden interlock system.
Hicks Named JCPenney President
Plano, TX, January 5--J.C. Penney Co. has named Ken Hicks president and chief merchandising officer, the retailer said Tuesday.
Fed Minutes Reveal Rates Likely to Keep Rising
Washington, January 5--At the Fed's Dec. 14 meeting, policymakers boosted the federal funds rate by one-quarter percentage point, marking the fifth increase in this key rate in 2004.
Honeywell to Donate $1M to Tsunami Relief Efforts
Morris Township, NJ, January 5—-Honeywell announced that it will donate $1 million to assist with relief efforts for areas damaged by the recent tsunamis in Asia.
Former Federated CEO Charged with Perjury
New York, January 5--James Zimmerman, former chairman and chief executive of Federated Department Stores, was indicted for perjury on Tuesday by New York Attorney General Eliot Spitzer.