Third GDP Estimate Shows 6.3% Decline in Q4
Washington, DC, March 26, 2009--The U.S. economy contracted at a 6.3% annualized seasonally adjusted rate in the fourth quarter of last year.
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 Promoting Its Use of Lomax Technology
Midland, MI, March 25, 2009 — Mohawk Industries is launching a major, in-store advertising campaign to promote its use of Dow Flooring’s latex carpet backing manufactured with innovative Lomax Technology.
Propex Gets New Owner for $82 Million in Auction
Chattanooga, TN, March 25, 2009--The world’s biggest independent maker of carpet backings will get a new financial backer next month, according to the Chattanooga Times Free Press.
S&P Gives Berkshire Hathaway 'Negative' Outlook
New York, NY, March 26, 2009--Berkshire Hathaway, parent of Shaw Industries, could lose its "AAA" credit rating from Standard & Poor's, after the ratings agency revised its outlook to "negative" from "stable."
New Home Sales in February Higher Than Expected
Washington, DC, March 25, 2009--Sales of new one-family houses in February were at a seasonally adjusted annual rate of 337,000.
Shaw Closing Plants in Calhoun, Valdosta Georgia
Dalton, GA, March 24, 2009 –Shaw Industries will close a spun yarn facility in Calhoun, Ga., and a filament yarn facility in Valdosta, Ga. due to business conditions in the housing sector.
Durable Goods Orders Rise, Defying Projections
Washington, DC, March 25, 2009--U.S. stocks rose after an unexpected increase in orders for durable goods spurred speculation the worst of the recession is over.
FieldTurf Adds Manufacturing Facility in Georgia
Calhoun, GA, March 25, 2009 --FieldTurf has opened a new manufacturing facility in Calhoun, Ga.
Trade Group Warns Against New Global Warming Rules
Washington, DC, March 25, 2009--Energy-intensive manufacturing of steel, cement, chemicals and other products could move overseas without tax breaks or other subsidies, an industry coalition told lawmakers on Tuesday.
Topps Tiles Reports Lower Early Year Revenues
London, England, March 25, 2009--One of the UK's largest tile and wood flooring specialists Topps Tiles has reported a drop in revenue for the start of 2009.