Consumer Borrowing Falls Significantly in February
Washington, DC, April 7, 2008—Consumers significantly slowed their pace of borrowing in February, according to the Federal Reserve.
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.
Foamex Swings to Loss in 2007
Linwood, PA, April 7, 2008-- Foamex International Inc. reported a net loss for the fourth quarter of $35.6 million, or $1.51 per diluted share, compared to net income of $1.1 million, or $0.12 per diluted share, in the fourth quarter of 2006.
Interface Marks 35th Anniversary, Eco Highlights
Atlanta, GA, April 7, 2008-- Sunday marked 35 years since Ray Anderson, founder and chairman of Interface, Inc., brought the concept of carpet tile to the U.S. from Europe to create what would become Interface.
Mall Vacancy Rate Rises to 12 Year High
New York, NY, April 7, 2008--The vacancy rate at U.S. strip malls rose to the highest level since 1996 in the first quarter of 2008, according to research firm Reis.
Adams Promoted to CEO of Avalon Carpet
Cherry Hill, N.J., April 4, 2008-- Maryanne Adams has been named president and CEO of Avalon Carpet Tile and Flooring.
Flexco Signs Oklahoma Distributor
Tuscumbia, AL, April 7, 2008--Flexco has signed full product-line distributor General Distributors.
Economy Loses 80,000 Jobs in March
Washington, DC, April 4, 2008-- Employers slashed 80,000 jobs in March, the most in five years and the third straight month of losses, according to the Labor Department.
Meritage Homes' Revenue Down from 2007
Scottsdale, AZ, April 4, 2008—Meritage Homes reported estimated net sales of $420 million on 1,630 homes ordered, and closing revenue of $370 million on 1,320 homes after a cancellation rate of 27 percent.
Home Depot Settles Shareholder Suit
Atlanta, GA, April 4, 2008--Home Depot has agreed to pay $14.5 million in a settlement with shareholders who sued the company over former CEO Bob Nardelli's $210 million severance package, according to a filing with the Securities and Exchange Commission.
USGBC Says Studies Validate Green Performance
Washington, DC, April 3, 2008—Recent studies by the New Buildings Institute (NBI) and CoStar Group, have validated that third party certified buildings outperform their conventional counterparts.