Durable Goods Orders Off
Washington, DC, May 26--Demand for longer-lasting manufactured goods took its biggest tumble in a year and a half during April following big back-to-back increases.
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.
Feltex Puts Low Value on Shares
Aulkland, New Zealand, May 25--Feltex Carpets yesterday priced its $254 million share offer at the bottom end of expectations as New Zealand's biggest issue in five years drew a lukewarm response from institutions.
Saudis Promise to Increase Oil to U.S.
Amsterdam, Netherlands, May 24--The U.S. energy secretary said that Saudi Arabia has assured Washington it will supply up to two million barrels a day in additional crude oil if the market demands it.
Morgan Keegan Reiterates “Outperform” on Mohawk, R
New York, NY, May 20--Analysts at Morgan Keegan reiterate their "outperform" rating on Mohawk Industries Inc, while raising their estimates for the company.
Lorberbaum Assumes Role of Mohawk Chairman
Calhoun, GA, May 19--Mohawk Industries, Inc.today announced the promotion of Jeffrey S. Lorberbaum, President and CEO, to Chairman of the Board with the resignation of David L. Kolb from the Chairman position.
Judge Removed From Some Asbestos Bankruptcy Cases
Newark, NJ, May 18--A federal judge was removed from three of the five bankruptcy cases he had been overseeing involving companies sued by people exposed to asbestos.
Industrial Production Rises
Washington, DC, May 14--U.S. industrial production rose 0.8 percent in April--the seventh increase in the last eight months.
Existing-Home Sales Shy of Record
Washington, DC, May 12--An improving economy, low mortgage interest rates and a large underlying demand for housing kept total state existing-home sales near record levels in the first quarter.
New Solutia CEO Working on Reorganization Plan
St. Louis, MO, May 12--Jeffry Quinn, a lawyer who's the new chief executive of Solutia Inc., says he hopes to resolve key issues of its bankruptcy reorganization in a boardroom, not a courtroom.
Honeywell Nylon Announces Price Increase
Charlotte, NC, May 11--Honeywell Nylon is announcing a price increase of 5% over the May price for all residential and commercial carpet fiber products (bcf, staple & resin), effective May 29.