Armstrong Employees Warned of Further Job Cuts
Lancaster, PA, August 29--Armstrong will eliminate more jobs and reduce benefits to slash expenses by $50 million in both 2006 and 2007, employees have been told, according to the Lancaster New Era.
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.
Crude Oil Surges Above $70 per Barrel Due to Hurri
New York, August 29--Crude oil futures briefly surged past $70 a barrel for the first time Monday as Hurricane Katrina barreled toward the heart of U.S. oil and refinery operations.
Consumer Sentiment Slips in August
Ann Arbor MI, August 26—-The University of Michigan's index of consumer sentiment declined to 89.1 from July's 96.5, the first drop since May. A preliminary estimate of the survey on Aug. 12 put the index at 92.7.
Armstrong Asks Court to Renew Incentive Programs
Lancaster, PA, August 26--Armstrong World Industries on Monday asked a U.S. Bankruptcy Court to renew two incentive-bonus programs for its top management
NAHB Says More Data Need to Determine Direction of
Washington, DC, August 25—-More data is needed to determine the true direction of the housing market, according to David Seiders, chief economist, National Association of Home Builders.
CMI Reorganizes Sales Department
Pawtucket, RI, August 25--cmi (Colonial Mills, Inc.) has reorganized its sales department by creating an internal, direct sales force. cmi determined this move was important to best maximize the continued growth of the company.
New Home Sales Rise 6.5% in July
Washington, DC, August 24--New home sales rose 6.5 percent to a 1.41 million annual rate last month from 1.324 million in June, the Commerce Department said today in Washington.
Pergo Sharpens Focus on North America
Trelleborg, Sweden, August 24--Tony Sturrus, CEO of Pergo, said there are excellent opportunities for growth throughout the company over the next two years.
Existing Home Sales Off 2.6%
Washington, DC, August 23--Existing-home sales declined 2.6 percent in July to a seasonally adjusted annual rate of 7.16 million from an upwardly revised record of 7.35 million in June in July from a record in June, according to the National Association
Pergo Provides Details on Cost Cutting Program
Trelleborg, Sweden, August 23—-Pergo revealed more details on the European improvement program announced in the Q2 report on July 22nd 2005. The program is to achieve SEK 100 million ($13.1 million) in annualized savings.