Fed Raises Rates to 5%
Washington, DC, May 10, 2006--The Federal Reserve raised interest rates by a quarter percentage point to 5% on Wednesday and left the market in the dark about whether it would raise rates again.
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.
NTCA Launches Contractor Safety Program
Jackson, MS, May 11, 2006--Effective May 1st, 2006, the National Tile Contractors Association introduced its new NTCA Contractor Safety Program for tile contracting companies.
North Carolina Judge Bars Cleaning Firm
Raleigh, NC, May 11, 2006--A carpet and air duct cleaning company that authorities say used misleading advertisements and illegal bait-and-switch tactics has been barred from operating in North Carolina.
J.C. Penney 1Q Earnings Up
Plano, TX, May 11, 2006--J.C. Penney Co., reported a 22% jump in first-quarter earnings, helped by tighter spending controls and improved gross margins.
Beaulieu Announces 2007 Dealer Elite Italian and F
Dalton, GA, May 10, 2006--Beaulieu of America is planning yet another journey retailers will once again talk about for years to come.
US Patent Office Issues “Snap” Patent to Unilin
Wielsbeke, Belgium, May 10, 2006 – The United States Patent Office issued a patent to Unilin for glueless systems for HDF-based flooring panels that allow the panels to be snapped (or tapped) together.
Wholesale Inventories Up 0.2%
Washington, DC, May 10, 2006--Wholesale inventories grew less than expected in March, pushing the inventory-to-sales ratio down after a slight uptick in the previous month.
Construction Jobs Set Record in April
Washington, D.C., May 10, 2006-- "Construction employment set a record for the 15th straight month in April," Ken Simonson, chief economist of the Associated General Contractors of America (AGC),
Buffett Wants Son to Succeed Him at Berkshire
Omaha, NE, May 10, 2006--Warren Buffett, answering calls for a succession plan at his investment company Berkshire Hathaway, says his son, Howard, would be "a double-protector of the culture" as the company's future chairman.
Fed Expected to Raise Rates Today
Washington, DC, May 10, 2006--Federal Reserve policy-makers began a meeting on Wednesday that economists expect will yield a 16th straight interest-rate hike but also may signal that future increases are less certain.