Kenneth Frazier of Frazier's Carpet One Has Died
Knoxville, TN, September 20, 2024-- Kenneth Frazier, 77, former president of Frazier’s Carpet One, died September 16.
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.
Hero Flooring Names Elaf Rubber Middle East Distribution Partner
Las Vegas, NV, September 20, 2024—Hero Flooring announces Elaf Rubber, a Middle East distributor for resilient flooring, as the master distributor of all Hero Rubber + Nike Grind products throughout the Middle East market.
Fed Cuts Interest Rates by a Half Point
Washington, DC, September 18, 2024-"The Federal Reserve voted to lower interest rates by a half percentage point, opting for a bolder start in making its first reduction since 2020. The long-anticipated pivot followed an all-out fight against inflation the central bank launched two years ago,” reports the Wall Street Journal.
Existing-Home Sales Declined 2.5% in August
Washington, DC, September 19, 2024—Total existing-home sales descended 2.5% from July to a seasonally adjusted annual rate of 3.86 million in August, according to the National Association of Realtors.
Forbo Opens New Distribution Center in Pennsylvania
Hazleton, PA, September 19, 2024-Forbo Flooring Systems North America celebrated the grand opening of its new distribution center in Hazleton, Pennsylvania this week with a ribbon cutting ceremony.
Southwind Celebrating 30 Years of Business
Dalton, GA, September 19, 2024-Southwind Building Products is celebrating 30 years of business.
Initial Jobless Claims Declined by 12,000 in Week Ending Sept. 14
Washington, DC, September 19, 2024—In the week ending September 14, the advance figure for seasonally adjusted initial claims was 219,000, a decrease of 12,000 from the previous week's revised level, according to the Department of Labor.
Titebond Forms Partnership with Elias Wilf
Columbus, OH, September 19, 2024—Franklin International, the company behind the Titebond brand of adhesives and sealants, has entered a partnership with Elias Wilf, a flooring distributor in a nine-state region in the mid-Atlantic region stretching from New York to North Carolina.
Housing Starts Rose 9.6% in August
Washington, DC, September 18, 2024—Privately-owned housing starts in August were at a seasonally adjusted annual rate of 1,356,000, the U.S. Census Bureau and the U.S. Department of Housing and Urban Development jointly announced, 9.6% above the revised July estimate of 1,237,000 and 3.9% above the August 2023 rate of 1,305,000.
ABI Score Declined to 45.7 in August
Washington, DC, September 18, 2024—The pace of decline during August accelerated, posting an ABI score of 45.7, a decrease from 48.2 in July, according to the latest data from the AIA/Deltek Architecture Billings Index (ABI).