Biggest Surfaces Ever
Dallas, TX, Mar. 4—Surfaces 2003 wasn’t hindered a bit by a sluggish economy, setting records in attendance, number of exhibiting companies and net square feet of exhibit space.
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.
Berkshire Out, Mohawk May Bid On Lees
Greensboro, NC, Feb. 28--Berkshire Hathaway has dropped its offer to buy Burlington Industries after the bankruptcy court rejected some of the terms of the deal.
Consumer Spending Drops Slightly
Washington, DC, Mar. 3—Consumers, worried about a possible war with Iraq and their own financial prospects, cut spending 0.1% in January--the first decline in four months.
Smith Named Floor Expo President & COO
Atlanta, GA, Mar. 9--Jay Smith has been named president & COO of FloorExpo. Previously, Smith was executive vice president & COO of the company. He joined the firm in April 2000 as senior vice president of sales and marketing.
Employee Confidence Falls
Washington, DC, Mar. 6--Employee confidence fell to an all time low of 52 in February, as employees expressed increased concerns about the state of the nation's economy, according to the Gallup/UBS Employee Outlook Index, a joint effort of The Gallup
Judge Denies Berkshire’s Breakup Fee
Wilmington, DL, Feb. 28—The bankruptcy judge overseeing the Burlington Industries bankruptcy has denied a motion to authorize Burlington to pay Berkshire Hathaway a $14 million breakup fee should Burlington sell to another entity.
Dow Increases Carpet Latex Prices
Midland, MI, Feb. 28—The emulsion polymers business of Dow Chemical is increasing the prices of all latex products sold into the carpet industry by $0.02 per pound, effective April 1.
Manufacturing Slows But Still Grows
New York, NY, Mar. 4--U.S. manufacturing activity grew for a fourth straight month in February, but the pace of expansion slowed notably, according to the Institute for Supply Management. The group’s index of manufacturing activity fell to 50.5, slipping
Kmart Officials Vow Restraint
New York, NY, Mar. 5--Kmart officials have vowed to emerge from bankruptcy as a culturally changed business, with more financial controls in place, and say they are still on track to make that goal by April 30.
Unemployment Rate Rises
Washington, DC, Mar. 7--The nation's unemployment rate increased to 5.8% in February as companies cut 308,000 jobs, the biggest one month slide since the 2001 terrorist attacks.