Today's Flooring News

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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.

Downtown Dwelling Goes Green

Spokane, OR, March 6, 2007--Downtown dwelling is on the rise, and with it a trend toward health and sustainability among new urbanites seeking to simplify and streamline their lives.

U.S. Treasury Sec. Says Housing Risk Contained

Tokyo, Japan, March 6, 2007--U.S. Treasury Secretary Henry Paulson said on Tuesday that a weakened housing market will not have a major impact on the U.S. financial sector, which he described as quite healthy.

Bassett Sees Lower 1Q Sales, Shuts Plant

Bassett, VA, March 6, 2007--Bassett Furniture Industries Inc. said Monday a steady drop in demand sent fiscal first-quarter sales sharply lower and led the company to shut down its hometown manufacturing plant.

Dennis Poole Joins Omnova Solutions

Fairlawn, Ohio, March 6, 2007--Omnova Solutions Inc., a provider of decorative, functional laminates, said Dennis Poole has been hired as the national design specification manager for its RV & manufactured Housing products.

Remodeling Market Remains Steady

Remodeling Market Remains Steady

Washington, DC, March 6, 2007--Remodeling activity remained steady in the fourth quarter of 2006, according to the National Association of Home Builders’ (NAHB) Remodeling Market Index (RMI).

Fed Warns Lenders to be More Strict

Washington, DC, March 5, 2007--The Fed, seeking to limit defaults that have roiled the subprime mortgage--lending market, has told banks to scrutinize their underwriting standards and be more transparent with customers about borrowing risks.

China’s BBDC Selling Flooring Business

Shanghai, China, March 5, 2007--Shanghai Baosteel Business Development Co., Ltd. (BBDC), a wholly-owned subsidiary of China's largest steelmaker Baosteel Group, is putting its flooring business up for sale at the price of CNY 15 million.

Malette Reveals Plan to File for Bankruptcy

Montreal, Quebec, March 5, 2007--Malette Industries said that Malette International, a wholly-owned subsidiary, filed a notice of intention to file a proposal to its creditors under the Bankruptcy and Insolvency Act.