Universal Fibers Names Ammen CEO
Bristol, VA, July 14, 2009--Universal Fibers Systems has named Marc Ammen as the chief executive officer.
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.
CPI Up in June But Shows Large Decline from '08
Washington, DC, July 15, 2009--The Consumer Price index rose more than expected in June but showed the largest year-over-year decline since January 1950, the government said Wednesday.
Propex Raising Prices About 10 Percent
Chattanooga, TN, July 15, 2009--Propex Operating Company said it will increase prices about 10 percent for all of its flooring products effective with shipments starting on July 27.
Lower Rates Spur Increased Mortgage Refinancing
Washington, DC, July 15, 2009--Lower mortgage rates last week led to a 17.7% rise in applications filed to refinance existing home loans, the Mortgage Bankers Association reported on Wednesday.
Industrial Production Reading Better Than Expected
Washington, DC, July 15, 2009--The Federal Reserve reported Wednesday that production at America's factories, mines and utilities fell 0.4 percent last month.
Analyst Upgrades Mohawk Industries Stock
New York, NY, July 15, 2009--Mohawk Industries on Tuesday was upgraded by analysts at J.P Morgan, which raised its rating from "underweight" to "neutral."
House Bill Promotes Use of Green Building Products
St. Louis, MO, July 15, 2009--Wood flooring stands to gain from legislation that was recently passed in the U.S. House of Representatives to promote the use of green building products in U.S. schools.
NAHB Says Low Appraisals Hurting Builders' Sales
Washington, DC, July 14, 2009--Twenty-six percent of builders are seeing signed sales contracts fall through the cracks because appraisals on their homes are coming in below the contract sales price.
BPS Gets Environmental Product Declaration
Los Angeles, CA, July 14, 2009--Commercial carpet manufacturer Bentley Prince Street said that it has received a third-party verified Environmental Product Declaration (EPD) for its broadloom products.
Retail Sales Up Most in Five Months
Washington, DC, July 14, 2009--June retail sales advanced by the largest amount in five months, led by a surge in gasoline prices and a slight rebound in the trouble auto sector.