Foamex Readies To Offer More Stock to Shareholders
Linwood, PA, June 16, 2008--Foamex International Inc. set June 20 as its record date for a stock rights offering it announced in March.
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.
Atlanta Man Second Charged in HD Kickback Scheme
Atlanta, GA, June 13, 2008--An Atlanta man is the second person charged in an alleged kickback scheme involving overseas flooring suppliers for Home Depot, according to the Department of Justice.
Foreclosures Continue To Rise, Adding to Inventory
Irvine, CA, June 13, 2008--The bad news continues to pile up in the housing market as foreclosures in May were up nearly 50 percent compared to a year ago and 7 percent over April, according to tracking firm RealtyTrac Inc.
New CPI Reading Shows No Surprises
Washington, DC, June 13, 2008-- The Consumer Price Index rose 4.2 percent through the 12 months ended in May, according to the Labor Department.
Consumer Sentiment Continues To Fall
Ann Arbor, MI, June 13, 2008--Consumer sentiment continued to tumble, according to the University of Michigan/Reuters Consumer Sentiment Survey.
Business Inventories Up More Than Expected
Washington, DC, June 13, 2008--Business inventories rose a higher than expected 0.5 percent in April, while sales were their strongest since November, according to the Commerce Department.
Florida Tile Signs Two Distributors
Lakeland, FL, June 13, 2008--Florida Tile Inc. has named two new distributors for the U.S. market, Viking Distributors and Kaiser Tile.
Saudi Investors Buy Stake in Oriental Weavers
Cairo, Egypt, June 12, 2008--Egypt-based rug and carpet maker Oriental Weavers sold 941,291 of its own shares to a strategic consortium led by the Saudi-based private equity group Amwal AlKhaleej, the company said.
Retail Sales Higher Than Expected in May
Washington, DC, June 12, 2008--Retail sales rose 1.0 percent in May as Americans spent more on gasoline and goods, a government report showed Thursday.
Beige Book Report Paints Weak Economy
Washington, DC, June 12, 2008--The Federal Reserve said that U.S. businesses have had only "mixed results" trying to raise selling prices with the economy still weak.