Layoffs Up 3.1% in 2005
Chicago, IL, January 5, 2006--Job cuts by U.S. corporations increased 3.1% in 2005 to 1.07 million, the first annual increase since 2001, outplacement firm Challenger Gray & Christmas said Thursday.
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.
Factory Orders Up 2.5% in November
Washington, DC, January 4, 2006--Factories rose 2.5 percent in November, in line with forecasts, as strong demand for civilian aircraft offset weakness in cars and machinery, a Commerce Department report showed on Wednesday.
NewSpring Capital Invests in The Matworks
King of Prussia, PA, January 4, 2006--NewSpring Capital’s mezzanine fund, NewSpring Mezzanine Capital, L.P., has provided $3.5 million to assist management in acquiring the assets of Janitex Rug Service Corporation.
Linens 'n Things Deal Gets Antitrust Approval
Washington, DC, January 4, 2006--Antitrust authorities said on Tuesday they approved plans by Linens 'n Things Inc., to be taken over by private equity firm Apollo Management L.P., and its affiliates.
Mohawk Launches Optiback Carpet Backing
Dalton, GA, January 4, 2006--Not all of Mohawk’s new carpet innovations are on the visible side of the carpet. One of the most important is one that consumers may never see.
J.P. Morgan Cuts Lowe’s on Housing Slowdown
New York, NY, January 4, 2006--J.P. Morgan cut retailer Lowe's Companies to neutral from overweight, citing a slowdown in home sales.
Faus Makes Key Management Appointments
Dalton, GA, January 4, 2006--Faus Group, Inc., has announced the appointed two key members of their management team.
Bed Bath & Beyond Names New President & CFO
Union NJ, January 4, 2006--Bed Bath & Beyond Inc., today announced the promotion of three key executives, effective immediately. Arthur Stark has been named president of Bed Bath & Beyond. He also retains the title of chief merchandising officer.
World Market Center Names Pedraz Director of Desig
Las Vegas, NV, January 4, 2006--Officials with World Market Center announced they have hired design industry authority Victor Pedraz to lead management and expansion of The Design Center at World Market Center.
NOFMA Launches Study of Wood Flooring Market
Memphis, TN, January 4, 2006--NOFMA: The Wood Flooring Manufacturers Association has begun work to complete the first ever, comprehensive U.S. Wood Flooring Market Study.