Stuart Hardwood Scales Back in Virginia
Stuart, VA, Nov. 26, 2008--Stuart Flooring Corp., a manufacturer of unfinished hardwood strip flooring, eliminated 60 jobs last week, according to the Martinsville Bulletin newspaper.
Today's Flooring News
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Initial Jobless Claims Fall, Continuing Claims Up
Washington, DC, Nov. 26, 2008--Initial jobless claims fell back in the latest week, the Labor Department said Wednesday, but remained above 500,000.
Mortgage Rates Tumble on New Fed Plan
Washington, DC, Nov. 26, 2008--U.S. mortgage rates dropped by the most in at least seven years as a Federal Reserve pledge to buy $600 billion of debt succeeded where seven cuts in the central bank’s benchmark rate had failed.
New Home Sales Fall to 1991 Levels
Washington, DC, Nov. 26, 2008--Sales of new homes fell an estimated 5.3% in October to a seasonally adjusted annual rate of 433,000, the lowest level since 1991, the Commerce Department reported Wednesday.
Job Loss, Falling Income, Hit Consumer Sentiment
Ann Arbor, MI, Nov. 26, 2008--U.S. consumer sentiment fell to a 28-year low in November.
Consumer Spending Down 1% in October
Washington, DC, Nov. 26, 2008--Consumer spending fell 1% last month, the largest decline since September 2001, the Commerce Department reported Wednesday.
US Floors Beginning Expansion in Georgia
Dalton, GA, Nov. 25, 2008--U.S. Floors is beginning an $11 million expansion in Dalton that will add at least 15 new jobs next year, according to a story in the Dalton Daily citizen.
Florida Governor Wants Foreclosure Moratorium
Tallahassee, FL, Nov. 25, 2008--Florida Gov. Charlie Crist says he likes the idea of a moratorium on housing foreclosures in Florida.
Homebuilder D.R. Horton Sees Revenues Plummet
Fort Worth, TX, Nov. 25, 2008--D.R. Horton, Inc. said that fourth quarter revenue was cut in half from 2007.
Slack Consumer Spending Slows GDP in Q3
Washington, DC, Nov. 25, 2008--The U.S. economy contracted at a slightly faster pace in the third quarter than initially estimated, government data showed Tuesday.