Judge Approves Armstrong Naming New CFO
Lancaster, PA, Jan. 25--A federal bankruptcy judge has allowed Armstrong World Industries to hire a new chief financial officer for more than $800,000.
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.
Sears Will Not Provide Forecasts in 2005
Hoffman Estates, IL, January 26--Sears, Roebuck and Co. said it would not provide a 2005 profit forecast during its upcoming earnings conference call because of its impending acquisition by Kmart Holdings Corp.
Existing-Home Sales Off in December, Set Record in
Washington, DC, January 26--Existing single-family home sales surged in 2004, well above the previous record set in 2003, while the December pace declined from a monthly record in November.
Centex 3Q Earnings Up 28%
Dallas, Texas, January 26--Homebuilder Centex Corp. reported earnings in the third quarter that rose 28% to $253.8 million, or $1.91 a share, up from $198.7 million, or $1.52 a share, a year earlier.
Solutia Dropping Acrylics Business
St. Louis, MO, January 26--Citing fierce competition overseas, Solutia said it will close its acrylic fibers business, cutting in half, to 250 people, its work force at an Alabama factory as the company presses to emerge from bankruptcy.
Consumer Confidence Index Edges Up in January
New York, NY, January 26--The Conference Board's Consumer Confidence Index, which had improved in December, edged up in January. The Index now stands at 103.4 (1985=100), up from 102.7 in December.
Commerce's Frink Seeks to Cut Regulations to A
Washington, DC, January 25--Al Frink, President George W. Bush's ``manufacturing czar,'' will recommend the government scale back or eliminate environmental, workplace and other regulations to boost the competitiveness of factory owners.
Sherwin-Williams Sees 2005 Meeting Views
Cleveland, OH, January 25—-Paintmaker and retailer Sherwin-Williams Co. said Monday that it forecast full-year earnings in line with current Wall Street expectations.
Lanxess Spin-off Date Set
Leverkusen, Germany, January 24--Lanxess, the chemical spin-off from Bayer, is to begin trading on the Frankfurt stock exchange on 31 Jan 2005. One Lanxess share will be allocated for every 10 shares in Bayer AG.
Project Studying College Use of Armstrong Plant Re
Lancaster, PA, January 24--A study to explore how Franklin & Marshall College might re-use most of the Armstrong World Industries floor plant has gotten the state's support, according to the Lancaster New Era.