Moody's Cuts May Department Stores' Rating
New York, NY, July 13--Moody's Investors Service cut its long-term ratings on May Department Stores Co.'s debt, citing the company's higher borrowings after buying 71 department stores for $3.2 billion.
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.
Setra Group Wins 3-Year Contract from Kahr
Stockholm, Sweden, July 13--The Swedish wood industry company Setra Group AB has secured a three-year contract for pine wood from the flooring maker AB Gustaf Kahr.
Massachusetts Lawmaker and Flooring Contractor Ind
Springfield, MA, July 13--A two-term state representative, his wife, parents, three brothers,and a sister were charged yesterday in a sweeping federal racketeering indictment with bilking the Springfield Housing Authority out of more than $1 million.
Universal Forest’s 2nd Quarter Earnings Up 15%
Grand Rapids, MI, July 13--Universal Forest Products Inc.'s second-quarter profit rose 15% on revenue growth of 34%.
Trade Gap Falls
Washington, DC, July 13--The trade deficit narrowed unexpectedly in May as stronger growth overseas and the weak U.S. dollar helped propel exports to record levels, government data released on Tuesday showed.
Interface’s Anderson Plays the Good Guy
Atlanta, GA, July 13— The Atlanta Journal-Constitution’s recent headline says "Interface CEO Plays Good Guy in Finance Flick." It goes on to say that the latest movie that bashes big, bad business is a Canadian documentary, "The Corporation."
Frist May Offer Asbestos Counter-Proposal in Senat
Washington, DC, July 13--A Republican counter-proposal on the size of a multibillion-dollar fund for asbestos victims could come within days, the U.S. Senate majority leader said on Monday.
Mannington Commercial Introduces Sample Return Pro
Calhoun, GA, July 12--Mannington Commercial has debuted a Sample Return Program for their carpet, resilient and ICore samples.
CCA Global’s Rug Décor Appoints New President
Manchester, NH, July 12--CCA Global Partners has appointed Scott Hayim as president of Rug Décor, one of CCA Global's 13 affiliate companies. Hayim comes to Rug Décor with a very successful 25-year background in the floor covering industry.
Q.E.P. Reports Record Sales and Earnings
Boca Raton, FL, July 12--Q.E.P. Co., Inc. today announced financial results for its fiscal 2005 first quarter ended May 31, 2004.