Bridgewater Buys Groom Industries
Salt Lake City, UT, Sept. 11, 2008-Bridgewater Inc. has acquired Groom Industries, a manufacturer of carpet and upholstery grooming tools.
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.
Imports, Exports Set Records as Deficit Swells
Washington, DC, Sept. 11, 2008--The U.S. trade deficit rose in July to the highest level in 16 months as oil imports hit an all-time high, offsetting strong export growth. The deficit with China climbed to the second highest level on record.
Jobless Claims Higher Than Expected
Washington, DC, Sept. 11, 2008-- Initial jobless claims for unemployment insurance were higher than expected last week, while total benefit rolls rose to the highest level in almost five years, according to the Labor Department.
Greyne Custom Names Operations Manager
Baltimore, MD, Sept. 10, 2008 — Greyne Custom Wood Co. has named Jess A. Schaetz operations manager.
NAHB Explains New First Time Buyer Tax Credit
Washington, DC, Sept 11, 2008--A new $7,500 temporary first-time home buyer tax credit is expected to turn millions of hesitant shoppers into home buyers, says the National Association of Home Builders.
Mortgage Application Volume Rises as Rates Fall
Washington DC, Sept. 10, 2008--Mortgage application volume last week increased 9.5% compared with the week before, as mortgage interest rates fell, the Mortgage Bankers Association reported on Wednesday.
CFOs More Upbeat About Economy
Durham, NC, Sept. 10, 2008--Chief financial officers are more optimistic about the direction of the U.S. economy, but remain concerned about consumer demand and weak credit markets, according to a quarterly survey by Duke University/CFO Magazine .
Kährs Expanding Plant in Sweden
Nybro, Sweden, Sept. 9, 2008--Wood flooring manufacturer Kährs is investing $14.8 million at its Nybro factory in Sweden but will also lay off about 245 employees because of weak market conditions, Timber Industry Magazine reported.
Bamboo Firm on Inc. 5000 List
Poulsbo, WA, Sept. 10, 2008--Bamboo flooring company Higuera Hardwoods has ranked No. 623 by Inc. Magazine in its list of the Inc. 5000.
British Builder Offers Unusual Incentive
London, England, Sept. 10, 2008--Barratt Developments PLC, Britain's second-biggest house builder by volume, said that full-year profits fell by 71 percent as the credit crunch depressed sales in the second half.