Analyst Downgrades Mohawk Shares
New York, NY, Sept. 8, 2008--An analyst downgraded shares of Mohawk Industries Inc. on its exposure to weakening U.S. nonresidential and European markets and the stock's summer surge.
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.
Labor Market Likely To Remain Weak, Index Shows
Washington, DC, Sept. 9, 2008--The U.S. labor market will probably continue to weaken "well into 2009," according to the employment trend index released by the Conference Board.
Tighter Home Equity Forces Shift to Credit Cards
Washington, DC, Sept. 9, 2008--Consumer borrowing fell in July to the weakest pace in seven months.
Centiva Names Ross To Promote Green Story
Florence, AL, Sept. 9, 2008--Centiva has named Rhonda Ross executive vice president of public relations and green initiatives.
Mohawk Offering Convention Discounts
Dalton, GA, Sept. 8, 2008—Mohawk is offering dealers a $100 discount if they register early to attend the Mohawk Floorscapes or Mohawk ColorCenter Conventions.
Iran's Tile Output Up 12 Percent
Tehran Iran, Sept. 8, 2008--Iran’s ceramic and tile production in the first five months of the current Iranian calendar year starting March 20 stood at 69.4 million square meters, a 12 percent growth over last year.
Lower Earnings for South African Tile Maker
South Africa, Sept. 9, 2008--South African tile and sanitary ware manufacturer Ceramic Industries on Tuesday announced a 15.5 percent decline in headline earnings pershare for the year ended July 2008.
Indianapolis Buddy's Carpet to Close
Buddy's Carpet and Flooring, a four store chain in Indianapolis, Indiana is closing its doors according to Channel 8 TV in Indianapolis.
Feds Take Control of Fannie and Freddie
Washington, DC, Sept. 7, 2008--In the biggest government bailout in U.S. history, the Treasury said that government regulators are taking control of home mortgage giants Fannie Mae and Freddie Mac.
Lowe's CEO Niblock Echoes Home Depot Outlook
New York, NY, Sept. 5, 2008--Echoing concerns from his main rival, Lowe's CEO Robert Niblock warned that the housing market remains difficult, given high inventory of unsold homes, tight credit and rising unemployment.