3M Sales, Profits Fall in Fourth Quarter
Maplewood, MN, Jan. 30, 2009--3M Co. said its fourth-quarter net income fell 37% on a restructuring charge, lower margins and falling international sales.
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.
Teragren Seeks Patent Ruling Reconsideration
Bainbridge Island, WA, Jan. 29, 2009—Bamboo flooring manufacturer Teragren said it is seeking reconsideration of a ruling within its patent infringement lawsuit against Smith & Fong.
Feizy Rugs Names Key Account Manager
Dallas, TX, Jan. 30, 2009--Jamie Jones has joined Feizy Rugs as key account manager.
Mortgage Workouts by Industry Group Hit 239K
Washington, DC, Jan. 30, 2009--Mortgage companies modified a record 122,000 loans in December to try to avoid foreclosures, an industry group said Thursday.
Canadian Chain Carpet Giant Going Out of Business
Toronto, Canada, Jan. 29, 2009--Canadian chain Carpet Giant has declared bankruptcy and will close its 12 warehouse style stores.
Fed Holds Key Interest Rate Near Zero
Washington, DC, Jan. 28, 2009--The Federal Reserve on Wednesday moved a step closer to purchasing longer-term Treasury securities if needed to improve conditions in private credit markets.
Shaw Closing Georgia Yarn Plant Next Month
Milledgeville, GA, Jan. 29, 2009--Shaw will close its yarn plant in Milledgeville in the next few weeks, according to todaysmgt.com.
Initial Jobless Claims Up Slightly in Week
Washington, DC, Jan. 29, 2009--Initial jobless claims rose 3,000 last week, data on Thursday showed, while so-called continued claims hit the highest level on record.
'Fix Housing First' Calls for Higher Tax Credits
Washington, DC, Jan. 29, 2009--Home builders and real estate agents called on Congress to revamp home buyer tax credits and to buy down interest rates for new homeowners as part of the economic stimulus package under debate this week.
House Passes $819 Billion Stimulus: On to Senate
Washington, DC, Jan. 29, 2009--President Barack Obama's $819 billion economic stimulus legislation is headed for the Senate after a partisan vote in the House in which Republicans united in opposition and 11 mostly conservative Democrats joined them.