Initial Jobless Claims Rise To 7-Year High
Washington, DC, Oct. 2, 2008-- Initial jobless applications rose to the highest level in seven years.
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.
Freudenberg Laying Off in Non Carpet Operations
Durham, NC, Oct. 2, 2008--German specialty textile maker Freudenberg Nonwovens is laying off 59 workers and shuttering some operations in Durham.
Wool Partners Intl. Buys Wools of New Zealand
Christchurch, New Zealand, Oct. 1, 2008--Wool Partners International has entered into an agreement to purchase the Wools of New Zealand group of companies.
SunTrust Analysts Downgrade Armstrong
New York, NY, Oct. 2, 2008--Analysts at SunTrust Robinson Humphrey downgraded Armstrong World Industries.
US Floors Preparing $10 Million Expansion
Dalton, GA, Oct. 1, 2008--Dalton’s US Floors, maker of Natural Cork, is reportedly planning a $10 million expansion that will add 15 new jobs, according to a Dalton newspaper.
It's Up To House After Senate Approves Bailout
Washington, DC, Oct. 2, 2008--The Senate, after adding tax breaks and other provisions to attract skeptical lawmakers, voted 74-25 last night to resurrect President Bush's $700 billion financial aid package for Wall Street.
Mohawk Shuttering Two Yarn Plants in GA, SC
Calhoun, GA, Sept. 30, 2008-Mohawk Industries will close synthetic carpet yarn plants in Fort Oglethorpe, Ga. and Dillon, S.C. in the next 60 days.
Georgia Green Group Honors Milliken Plant
Atlanta, GA, Sept. 30, 2008--The Partnership for a Sustainable Georgia has recognized Milliken & Company's Live Oak Complex and Hillside Plant of LaGrange, Ga., as Mentors of the Year.
Mortgage Activity Slows as Refinancing Drops
Washington, DC, Oct. 1, 2008--Mortgage applications filed last week dropped a seasonally adjusted 23.0 percent from the previous week.
Credit Market Freeze Hitting Healthy Businesses
New York, NY, Oct. 1, 2008--Stocks are rebounding and a new bailout package could be coming soon, but the credit markets -- where day-to-day borrowing occurs to keep the gears of the economy turning -- are still stuck.