Initial Jobless Claims Hit Post 9/11 High
Washington, DC, Sept. 25, 2008--Initial jobless claims increased 32,000 to 493,000 in the week ended Sept. 20, reaching its highest level since September 2001, according to the Labor Department.
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.
Durable Goods Orders Drop Sharply in August
Washington, DC, Sept. 25, 2008--New orders for durable manufactured goods dropped by a sharper-than-expected 4.5 percent in August .
Bed Bath & Beyond Sales, Earnings Off
Union, NJ, Sept. 24, 2008--Bed Bath & Beyond Inc. reported net earnings of $.46 per share, or $119.3 million.
Health Insurance Trending Toward High Deductibles
Menlo Park, CA, Sept. 25, 2008--Employers' health-insurance premiums grew a relatively modest 5 percent in 2008.
Buffett Takes Stake in Goldman Sachs
Omaha, NE, Sept. 24, 2008--Warren Buffett's Berkshire Hathaway Inc., the parent company of Shaw Industries, said Tuesday it investing at least $5 billion in Goldman Sachs Group Inc., a vote of confidence for one of the survivors of the credit crisis.
American Fibers Files Chapter 11, To Close
Bainbridge, GA, Sept. 24, 2008--American Fibers and Yarns filed for Chapter 11 bankruptcy protection on Tuesday and will close its plant in the next three weeks.
U.K.'s Topps Tiles Sees Sales Plunge
London, England, Sept. 24, 2008--Tile retailer Topps Tiles, the largest tile and wood specialist in the U.K., has renegotiated its banking covenants after sales tumbled by more than 13 percent in the last eight weeks.
Bentley Dye Building Polyester Mill
Calhoun, GA, Sept. 23, 2008--Calhoun-based Bentley Dye Services Inc., the largest wool supplier in the U.S., has purchased 42 acres for a new polyester extrusion/yarn mill manufacturing facility, according to the Calhoun Times.
U.K. Carpet Museum Gets Construction Grant
Kidderminster, England, Sept. 25, 2008--A potential carpet museum in Kidderminster has received a $3.15 million lottery grant.
Rising Rates Slow Mortgage Application Volume
Washington, DC, Sept. 24, 2008--Mortgage application volume retreated to sluggish levels last week as rising interest rates limited refinancing activity, according to the Mortgage Bankers Association.