Fed's Parry Gives Opinion on Rates
New York, NY, Apr. 12--U.S. interest rates cannot remain at their 1958 lows forever and will have to rise at some point, perhaps to 3.5%, Federal Reserve Bank of San Francisco President Robert Parry said.
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.
Invista to Sell High-Yield Bonds
London, UK, Apr. 13--U.S. fiber manufacturer Invista will sell high-yield bonds worth $575 million next week to fund its acquisition by Koch Industries Inc.
Foamex Sets Annual Meeting Date & Location
Linwood, PA, Apr. 12--Foamex International Inc. announced that it will hold its Annual Meeting of stockholders on Tuesday, May 25, 2004.
Retail Sales Log Unexpectedly Big Rise
Washington, DC, Apr. 13--U.S. shoppers turned out in force in March, a Commerce Department report on Tuesday showed, pushing retail sales to their strongest gain in a year.
DuPont to Cut Workforce
Wilmington, DE, Apr. 12--DuPont today announced that it will reduce its global employee workforce, excluding Invista, by 6%, or 3,500 positions.
Lowe's to Open Three Flatbead Distribution Cen
Mooresville, NC, Apr. 10--Lowe’s said Thursday it expects to open three flatbed distribution centers in the year ending Jan. 28, 2005.
Lumber Prices Ramp Up
Chicago, IL, Apr. 9--The recent spike in lumber prices is part of a broader pattern of increases for a building material essential to residential construction.
Fabrica Co-Founder Picked by Bush
Crawford, TX, Apr. 9--On Thursday, President Bush picked Fabrica International co-founder Albert Frink to head up efforts to reverse the trend of heavy manufacturing job losses, months after the adminisration announced the initiative.
Armstrong to Increase Prices on Some Hardwood Prod
Lancaster, PA, Apr. 8--Armstrong announced today that it will initiate an average seven to eight percent price increase on selected solid hardwood products.
March's Strong Jobs Performance Stirs Optimism
New York, NY, Apr. 9--Economists lifted their forecasts for job creation but not enough to change the outlook for unemployment or suggest the economy is picking up steam.