House Prices Fall at Record Pace in August
New York, NY, Oct. 28, 2008--House prices in 20 metropolitan areas declined at the fastest pace on record as foreclosures climbed before the credit crisis deepened this month.
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.
Consumer Confidence Measure Hits All-Time Low
Washington, DC, Oct. 28, 2008--The Conference Board said Tuesday that consumer confidence plunged in October to its lowest on record, as stock markets dropped sharply and companies laid off workers.
Dixie Group Reports Loss for Third Quarter
Chattanooga, TN, Oct. 28, 2008--The Dixie Group in the third quarter reported a loss from continuing operations of $732,000, or $0.06 per diluted share.
Sales Plunge at UK's Carpetright Chain
London, England, Oct. 28, 2008--Carpetright, Britain's biggest floor covering retailer, said it has become more cautious about annual profit forecasts after a difficult October and expected slow sales to continue for at least 18 months.
Program Helping Homeowners Avoid Foreclosure
Washington, DC, Oct. 28, 2008--Mortgage lenders have helped nearly 2.5 million homeowners avoid foreclosure since the mortgage meltdown began more than a year ago.
Motel 6 To Use Laminate Instead of Carpet
Dallas, TX, Oct. 28, 2008--Motel 6 plans to use wood-effect laminate flooring in its new Phoenix Prototype and property renovations rather than carpet.
Omnova Solutions Gets Notification from NYSE
Fairlawn, OH, Oct. 28, 2008--Omnova Solutions said that on Oct. 27 it was notified by the New York Stock Exchange that it has 18 months to achieve compliance with the NYSE's continued listing standards.
Canadian Wood Floor Maker Starts Pellet Business
Middle River, Nova Scotia, Canada, Oct. 28, 2008--A Cape Breton company that makes hardwood flooring is cashing in on the increased demand for wood pellets, used for heating.
Pfleiderer Centralizing IT Activities
Stuttgart, Germany, Oct. 27, 2008--Pfleiderer AG and IBM signed a seven-year outsourcing contract.
Columbus-Based Value City Chain To Close
Columbus, Ohio, Oct. 28, 2008--Value City Department Stores, known for generations as a closeout retailer, is going out of business.