Economy On Track To Post Largest Decline Since '82
Washington, DC, Dec. 9, 2008--Eight of the major 10 economic indicators that came out last week worsened.
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.
Pending Home Sales Fall in October
Washington, DC, Dec. 9, 2008--In a sign that further weakening may be in store for the U.S. housing market, contracts on previously owned homes fell 0.7% in October.
Chain Store Sales Higher Than Last Year
New York, NY, Dec. 9, 2008--Chain-store sales for the week ended Dec. 6 rose 0.4% from the year-ago period, according to a survey released Tuesday by the International Council of Shopping Centers and Goldman Sachs.
Australian Flooring Firm Names China Adviser
Melbourne, Australia, Dec. 9, 2008--Flooring company Style Limited has named Beijing-based businessman and political consultant, John Holden, as the senior strategic adviser in China.
Feizy Rugs Launches New Website
Dallas, TX, Dec. 9, 2008--Feizy Rugs is launching both its new and improved website, www.feizy.com, and the latest version of its Winter Home Catalog.
Milliken Offers Early Retirement to Some Managers
Spartanburg, SC, Dec. 7, 2008--Milliken & Co. said Friday it has offered voluntary retirement packages to eligible management employees, according to a story in Greenville Online.
Wealthy Overestimate Price of Luxury Carpet
Coral Gables, FL, Dec. 8, 2008--A national survey of the wealthiest 10% of U.S. households shows that the affluent expect to pay far more for luxury carpet than high-end carpet actually costs.
Delinquent Home Mortgage Total Nears 7%
Washington, DC, Dec. 4, 2008--The percentage of U.S. mortgage holders who were behind in their payments soared to a record 6.99% of loans outstanding in the third quarter, the Mortgage Bankers Association said Friday.
Shaw Products Get NSF-140 Certification
Dalton, GA, Dec. 8, 2008--Shaw Industries said its Ultraloc Pattern, Teklok, EcoLogix and EcoWorx commercial product systems have all been certified under the Sustainable Carpet Standard NSF-140.
Dow Cutting 11 Percent of Workforce
Midland, MI, Dec. 7, 2008--Dow Chemical Co. said Monday it will slash 5,000 full-time jobs -- about 11 percent of its total work force -- close 20 plants and sell several businesses to reign in costs amid the economic recession.