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.
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.
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.
Berkshire's Earnings Off , Shaw’s Pretax Earni
Omaha, NE, May 8--Berkshire Hathaway Inc.'s reinsurance business, which led Warren Buffett's company to a record 2003 profit, helped cause a 10% drop in first-quarter earnings.
Payrolls Up, Unemployment Rate Down
Washington, DC, May 7--Payrolls grew at a rapid pace for a second month in a row, driving the unemployment rate lower and suggesting that the "jobless recovery" has finally bloomed into a real recovery.
Productivity Rises
Washington, DC, May 6--Productivity rose in the opening quarter of the year even as employers added to payrolls, while new filings for jobless benefits plunged last week to their lowest level in more than three years.
Feltex Returns To New Zealand Ownership
Auckland, New Zealand, May 5, Feltex Carpets Limited confirmed its intention to list on the New Zealand sharemarket through the launch today of a public offering of its shares.
Fed Holds Rates...For Now
Washington, DC, May 4--The Federal Reserve moved a step closer toward raising interest rates for the first time since 2000, saying strong economic and jobs growth has defused the deflationary threat that preoccupied the central bank for a year.
Shaw Acquisition Brings New Product Lines to Deale
Dalton, GA, May 4--Shaw Industries’ purchase of the North Georgia operations of the Dixie Group in December 2003 introduced a number of new products and markets to the company.
New Home Sales Rise
Washington, DC, Apr. 26--Sales of new homes rose to a record 1.228 million annual rate in March, exceeding forecasts.
Durable Goods Orders Jump
Washington, DC, Apr. 23--Orders for long-lasting durable goods surged again in March, as U.S. factories sought to keep up with unexpectedly strong demand for a broad array of products, a Commerce Department report on Friday showed.