Invista Downsizes at Georgia Yarn Plant
Athens, GA, Dec. 26, 2008--The Invista yarn-processing plant in Athens has laid off 50 workers and has shut down operations until early next month, according to the Columbus Ledger-Enquirer.
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.
Mortgage Rates Hit Another New Low
Washington, DC, Dec. 26, 2008--The 30 year fixed-rate home mortgage fell to another record, at least since Freddie Mac began doing its weekly survey in the early 1970s.
Economy, Storms, Slow Retail Sales
New York, NY, Dec. 26, 2008--A weak economy and strong winter storms in some areas brought total retail sales down between 5.5 percent and 8 percent from a year ago, according to preliminary data from SpendingPulse.
CAP Carpet Investing in Four St. Louis Stores
St. Louis, MO, Dec. 23, 2008--Floor retailer The Floor Trader said it plans to open four locations in the St. Louis area next year.
Initial Jobless Claims Highest in 26 Years
Washington, DC, Dec. 24, 2008--The U.S. labor market continued to deteriorate, with the unemployment lines stretching to the longest in 26 years, the Labor Department reported Wednesday.
November Existing Home Sales Fall Again
Washington, DC, Dec. 23, 2008--Existing-home sales weakened against a backdrop of an eroding economy, according to the National Association of Realtors.
Orders for Durable Goods Fall Less Than Expected
Washington, DC, Dec. 24, 2008--Orders for U.S.-made durable goods fell 1% in November, the Commerce Department said Wednesday, as orders for transportation goods fell 7.4%.
Mortgage Applications Continue To Surge
Washington, DC, Dec. 24, 2008--With mortgage rates approaching record lows, the volume of applications filed for mortgages jumped a seasonally adjusted 48% last week compared with the previous week, according to the Mortgage Bankers Association.
U.K. Flooring Retail Giant Reportedly for Sale
London, England, Dec. 24, 2008--Allied Carpets is to be sold by its French owner, according to the Financial Times.
Consumers Pessimistic, But Sentiment Improves
Ann Arbor, MI, Dec. 23, 2008--The Reuters/University of Michigan survey of consumers rose to 60.1, better than a preliminary reading of 59.1 released earlier this month and topping the 58.5 reading forecast by economists.