Interface To Cut 14% of Employees, Close Plant
Atlanta, GA, Dec. 31, 2008--Interface Inc. said Tuesday it will restructure its worldwide operations, cut 14 percent of its workforce and close a plant in response to falling demand.
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.
Mohawk Closing Calhoun Spun Yarn Plant
Calhoun, GA, Dec. 31, 2008--Mohawk Industries has announced plans to discontinue operations at the company's Calhoun, Ga. spun yarn manufacturing facilities, according to reports.
Mortgage Applications Volume Remains High
Washington, DC, Dec. 31, 2008--Demand for U.S. mortgages was unchanged during the Christmas holiday week, holding the highest levels in more than five years with loan rates near record lows, the Mortgage Bankers Associations said.
Consumers Spend Less Online for Holidays
New York, NY, Dec. 31, 2008--Consumers spent less online this holiday season compared to last, comScore Inc. said.
Initial Jobless Claims Fall More Than Expected
Washington, DC, Dec. 31, 2008--Initial jobless claims fell 94,000 last week, government data on Wednesday showed, but seasonal factors were likely behind this unexpectedly large decline with the labor market remaining very soft.
House Prices Fall By Record Annual Rate
New York, NY, Dec. 30, 2008--Home prices dropped by the sharpest annual rate on record in October, according to the Standard & Poor's/Case-Shiller 20-city housing index released Tuesday.
Consumer Confidence Hits All-Time Low in December
New York, NY, Dec. 30, 2008--Consumer confidence fell to an all-time low in December amid a dismal job market and uncertain outlook for the new year, according to the Conference Board.
Irish Tile Retailer Goes Out of Business
Belfast, Ireland, Dec. 31, 2008--Retailer Tile Market has reportedly laid off all of its workers after being placed in voluntary liquidation.
GM Financing Arm Gets Separate Bailout
Washington, DC, Dec.30, 2008--The Treasury Department said Monday that it will provide $5 billion to GMAC Financial Services LLC, the ailing financing arm of General Motors Corp., from the $700 billion bank rescue program.
NAFCD Joins 'Fix Housing First' Advocacy Group
Chicago, IL, Dec. 31, 2008--The North American Association of Floor Covering Distributors (NAFCD) has joined Fix Housing First Coalition, an advocacy group pushing for Congressional aid to the housing market.