KB Home Lowers Earnings Forecast
Los Angeles, CA, September 7, 2006--KB Home cut its 2006 profit forecast citing weaker than expected demand for new homes amid a slowing housing market.
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.
Beazer Cuts 2006 Forecast
Atlanta, GA, September 7, 2006--Beazer Homes USA Inc., cut its full-year earnings outlook Thursday, citing slumping sales and contract cancellations in the latest sign of worsening conditions in the housing market.
CMAI Issues New Nylon Fibers & Feedstocks Study
Houston, TX, September 6, 2006--Chemical Market Associates, Inc., (CMAI) recently completed the 2007 World Nylon Fibers and Feedstocks Analysis, an annual global study.
Bernanke:Productivity to Continue
Washington, DC, September 1, 2006--The strong increase in productivity, or output per hour of work, seen over the past decade is likely to continue for some time, Fed chief Ben Bernanke said Thursday.
Help-Wanted Ad Index Dips 2 Pts
New York, NY, August 30, 2006--The Conference Board Help-Wanted Advertising Index--a key measure of job offerings in major newspapers across America-- declined two points in July.
Commercial Loan Originations Up 17.3% in 2Q
Washington, DC August 30, 2006--During the second quarter of 2006 commercial and multifamily mortgage bankers' loan originations increased 17.3 percent compared to the same quarter last year, according to the Mortgage Bankers Association (MBA).
Median Household Income Rises
Washington, DC, August 30, 2006--The median income of American households rose by an inflation-adjusted 1.1% last year after falling five years in a row, the Census Bureau said in its annual report on the well-being of Americans.
Moody's Ups Lowe's Credit Rating
New York, NY, August 30, 2006--Moody's Investors Service upgraded the senior unsecured rating of home improvement retailer Lowe's Cos. Inc. to "A1," and affirmed its "Prime-1" commercial paper rating with a stable outlook.
3M Picks Quaker For Scotchgard Relaunch
Fall River, MA, August 30, 2006—Quaker Fabric Corp., and 3M say they have joined forces to relaunch 3M's Scotchgard fabric protector in the residential upholstery and contract, and outdoor fabric markets.
ADP: Private Sector Adds 107,000 Jobs
New York, NY, August 30, 2006--According to the ADP Employer Services employment report, private employers added 107,000 jobs in August. The number was close to expectations.