Fed Ups Rates 0.25%
Washington, DC, August 10-- The Fed raised short-term interest rates by a quarter percentage point, the second such increase this summer, asserting that the U.S. economic recovery remains intact despite recent "softness."
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.
Fed Expected to Raise Rates Today
Washington, August, 10--The Federal Reserve is scheduled to meet and its expected to hike interest rates by one-quarter of one percent.
Lane’s Acquires Manhattan Contract Dealer
New York, August 10 --Lane’s Floorcoverings, a major New York City contract dealer, has acquired Kramer Carpet Corp., another Manhattan dealership.
Susan Buffett Estate to Sell Berkshire Shares
Omaha, NE, August 10--Berkshire Hathaway Inc. said that the estate of recently deceased Susan Buffett would sell 1,200-1,500 of the company's class A stock over the next two years to pay taxes, expenses and other cash bequests.
Oriental Weavers Names Sorrow VP Product Developme
Dalton, GA, August 9--Steven S. Sorrow has joined Oriental Weavers as vice president of product development for U.S. operations.
Wholesale Inventories up 1.1% in June
Washington, DC, August 9-- Wholesalers built up their inventories again in June while sales were flat, the Commerce Department estimated Monday.
Carpet One Intros Biltmore Estate Wood Collection
Manchester, NH, August 9-- Carpet One has announced the upcoming introduction of Anderson Hardwood Floors' new Biltmore Estate for Your Home Collection this fall.
Tarkett Commercial Intros Sheet Product
Houston, TX, August 9--Tarkett Commercial has introduced a new line of flooring created to provide designers and specifiers with a low-maintenance floor suitable for heavy-traffic commercial settings.
Keith Rhodes Opens 2nd GCO Outlet in Mississippi
Gulfport, MS, August 9--GCO Flooring Outlet will open a second location in the old Kmart building on U.S. 90 in Gautier.
Mohawk Offers Truck Mounted Carpet Cleaning System
Dalton, August 8--Mohawk now has a turnkey system that allows a retailer to quickly start a carpet cleaning business and create a new profit center.