Home Sellers Continue To Reduce Prices
San Francisco, CA, Oct. 8, 2009--Home sellers in the U.S. reduced their asking prices by a total of $28.4 billion to attract buyers.
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.
Recession Forces Closing of Sylvania Yarn Systems
Sylvania, GA, Oct. 8, 2009--Sylvania Yarn Systems Inc. said it will close its carpet yarn manufacturing plant by the end of the year, ending a 40-year history in Screven County.
Consumer Sentiment Hits 12-Month High
New York, NY, Oct. 8, 2009--Propelled by diminishing concerns about current personal finances and job security, U.S. consumer sentiment reached a 12-month high in October.
Safavid Rug Sells at Auction for $4.34 Million
London, England, Oct. 8, 2009--A stunning Safavid rug from late 16th or early 17th century Persia sold for $4.34 million at Sotheby’s in London.
Initial Jobless Claims Lowest Since January
Washington, DC, Oct.8, 2009--Initial jobless claims fell by 33,000 to a seasonally adjusted 521,000 in the week ending Oct. 3, the Labor Department reported Thursday.
Florida Tile Moves to High Definition Printing
Lakeland, FL, Oct. 8, 2009--Florida Tile said it is now using high definition digital printing to create porcelain tile that is virtually indistinguishable from natural stone.
Consumer Credit Falls Seventh Straight Month
Washington, DC, Oct. 8, 2009--Consumer credit fell in August for a seventh consecutive month as banks maintained restrictive terms and job losses made households reluctant to borrow.
Man Crushed To Death By Roll of Carpet
Mesa, AZ, Oct. 7, 2009--A man was crushed to death at work by a giant roll of carpet Tuesday morning in Mesa, police said.
Mortgage Applications Surge on Lower Rates
Washington, DC, Oct. 7, 2009--U.S. mortgage applications surged last week to their highest since mid-May as interest rates remained below 5 percent according to the Mortgage Bankers Association.
PS America Inc. Reportedly Files for Chapter 11
Volant, PA, Oct. 7, 2009—PS America Inc., which operates more than 40 wholesale flooring showrooms across the country, has reportedly filed for Chapter 11 bankruptcy protection.