Consumer Sentiment Drops in August
New York, NY, August 17, 2007--The consumer sentiment index, according to Reuters and University of Michigan preliminary reading in August, declined 7.1 points to 83.3.
Today's Flooring News
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Fed Cuts Discount Rate to 5.75%
Washington, DC, August 17, 2007--The Fed, in an unscheduled announcement, cut its discount rate and said it's prepared to take further actions to ``mitigate'' damage to the economy from the rout in global credit markets.
Voting Opened for “Your Better World” Award
Mannington is seeking votes for women who make a difference.
Dondero Steps Down at World Market Center
Las Vegas, NV, August 17, 2007--Officials with World Market Center said that Harvey Dondero will step down as chief executive officer of the company.
Nordstrom 2Q Earnings Up More Than Expected
Seattle, WA, August 17, 2007--Nordstrom reported a slim fiscal second-quarter profit increase as expenses related to the company's credit card business cut into solid sales.
Beazer Homes Affirms 3Q Results
Atlanta, GA, August 17, 2007-- Beazer Homes on Thursday reaffirmed its third-quarter results with the release of unaudited financial statements.
Solutia Settles Claims with Monsanto
New York, NY, August 17, 2007—Solutia, according to reports, has settled claims with former parent Monsanto, bondholders and shareholders bringing the company closer to emerging from court protection.
Builder Confidence Slides in August
Washington, DC, August 15, 2007 - Highly visible problems in the housing finance system are contributing to a wait-and-see attitude among prospective home buyers and reducing builder confidence.
Q.E.P. Receives Notification from Nasdaq
Boca Raton, FL, August 15, 2007--Q.E.P. Co., Inc. said that it had received a letter from the NASDAQ stock market notifying the company that it is not in compliance with Nasdaq's rules regarding the composition of its audit committee.
Housing Starts Drop 6.1% to 10-Year Low
Washington, DC, August 16, 2007—Housing starts in July fell 6.1% to an annual rate of 1.38 million, the lowest rate in decade, according to a Commerce Department report.