KB Home Narrows Quarterly Loss
Los Angeles, CA, Jan. 9, 2009--KB Home said Friday its fourth-quarter loss was narrower than a year ago, but revenue and orders for new homes were roughly cut in half.
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.
Homebuilders Seek $150 Billion Stimulus Package
Washington, DC, Jan. 8, 2009--Homebuilders are asking for up to $150 billion in the economic stimulus package being drafted by President-elect Obama’s administration and congressional Democrats.
Carpet One Relaunches Bigelow Brand
Dallas, TX, Jan. 8, 2009--Carpet One Floor & Home has relaunched its Bigelow brand, America's oldest brand of carpet, established in 1825.
Omnova Implements Aggressive Cost Cutting
Fairlawn, OH, Jan. 8, 2009--Omnova Solutions said it has taken cost reduction actions that are expected to provide $19 million of year-over-year savings in 2009.
Initial Jobless Claims Fall Unexpectedly
Washington, DC, Jan. 8, 2009--Initial jobless claims for unemployment benefits fell unexpectedly by 24,000 last week, according to the Labor Department.
ADP Report: 693,000 Jobs Lost in December
Roseland, NJ, Jan. 8, 2009--U.S. companies cut an estimated 693,000 jobs in December, the most since records began in 2001, according to the ADP Employer Services report.
Kuwait Ready To Counter Dow Legal Moves
Midland, MI, Jan. 8, 2008--Kuwait is ready to counter any legal action by Dow Chemical to avoid paying a break fee of up to $2.5 billion over a scrapped $17.4 billion deal.
Tile Contractors Association Elects Cox President
Jackson, MS, Jan. 8, 2009--The National Tile Contractors Association (NTCA) elected John Cox, founder and president of Cox Tile in San Antonio, Texas, as president for the 2008-2010 term.
Fixed Rates Mortgages Below 5% Offered
New York, NY, Jan. 8, 2009--Some large U.S. banks are starting to offer fixed home loans below 5 percent.
Bed, Bath & Beyond Sees Earnings Slide
Union, NJ, Jan. 8, 2009--Bed Bath & Beyond Inc. said Wednesday that its third-quarter earnings fell more than 36 percent as revenue and same-store sales slipped on a continued pullback in consumer spending.