Fed Raises Rates to 5%
Washington, DC, May 10, 2006--The Federal Reserve raised interest rates by a quarter percentage point to 5% on Wednesday and left the market in the dark about whether it would raise rates again.
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.
Retail Sales Up in April
Washington, DC, May 11, 2006--Retail sales increased 0.5% in April, but most of the increased spending was at the gas pump, the Commerce Department said Thursday.
Beaulieu Announces Dealer Riviera Cruise
Dalton, GA, May 10, 2006--Beaulieu of America is planning yet another journey retailers will once again talk about for years to come.
Second Half 2005 Mortgage Volume Up, Homeowners Sh
Washington, DC, May 10, 2006--First mortgage originations increased by 14 percent from the first half to the second half of 2005 according to the Mortgage Bankers Association's (MBA) Mortgage Originations Survey released today.
Buffett Wants Son to Succeed Him at Berkshire
Omaha, NE, May 10, 2006--Warren Buffett, answering calls for a succession plan at his investment company Berkshire Hathaway, says his son, Howard, would be "a double-protector of the culture" as the company's future chairman.
Wholesale Inventories Up 0.2%
Washington, DC, May 10, 2006--Wholesale inventories grew less than expected in March, pushing the inventory-to-sales ratio down after a slight uptick in the previous month.
Construction Jobs Set Record in April
Washington, D.C., May 10, 2006-- "Construction employment set a record for the 15th straight month in April," Ken Simonson, chief economist of the Associated General Contractors of America (AGC),
US Patent Office Issues “Snap” Patent to Unilin
Wielsbeke, Belgium, May 10, 2006 – The United States Patent Office issued a patent to Unilin for glueless systems for HDF-based flooring panels that allow the panels to be snapped (or tapped) together.
Beaulieu Offers Hollytex U.P. Service Guarantee
Dalton, GA, May 10, 2006--Beaulieu of America announced a new service policy on Hollytex Ultimate Performance.
Federated Posts 1Q Loss
Cincinnati, OH, May 10, 2006--Federated Department Stores Inc., reported a loss of $52 million, or $0.19 per share for the first quarter.