IWT Sells Assets to Investment Firm
Palm City, FL, March 12, 2008--International Wholesale Tile said that it has sold its assets to a Connecticut-based private investment fund as part of a comprehensive restructuring plan.
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.
Techmer PM Names Turner Fiber Division GM
Dalton, GA, March 13, 2008--Techmer PM has named David Turner general manager of the company’s Fiber Division.
Zeftron Nylon Certified for Recycled Content
Dalton, GA, March 13, 2008--Zeftron nylon has announced that all new and existing products made with its premium nylon 6 fiber now come standard with the Enviro6ix designation.
Mortgage Rates Rise, but Still Lower Than 2007
Washington, DC, March 13, 2008—Although mortgage rates rose fairly significantly this week, they were still lower than last year’s levels, according to Freddie Mac's weekly survey.
Commercial Real Estate Investment Could Decline
Washington, DC, March 13, 2008—Investment in commercial real estate could fall dramatically this year, the National Association of Realtors warned. NAR said the value of U.S. commercial real estate deals could decline by more than a third.
Foamex Stock Plan To Raise $80 Million
Linwood, PA, March 13, 2008 — Foamex said it intends raise about $80 million in additional equity through a complex rights offering to existing shareholders and by exchanging some debt for additional common stock.
Foreclosures Fall Slightly in February
Irvine, CA, March 13, 2008—Foreclosures fell 4 percent in February from January, according to RealtyTrac Inc. However, the February rate was almost 60 percent higher than the same month a year ago.
Congoleum Reports Fourth Quarter Results
Mercerville, NJ, March 12, 2008--Congoleum Corporation reported a net loss of $2.4 million or $0.29 per share for the fourth quarter, more than double the $1 million or $0.12 per share in the same quarter a year ago.
Lumber Liquidators Net Income Falls in 2007
Lumber Liquidators reported that net income in 2007 fell from a year ago, to $11.3 million, or $0.48 per diluted share, compared with $12.9 million, or $0.56 per diluted share in 2006.
Initial Jobless Claims Flat for Week of March 8
Washington, DC, March 13, 2008—Initial jobless claims for state unemployment benefits for the week ending March 8 totaled 353,000, the same as the revised number for the week ending March 1, according to the Labor Department