Moody's Cuts May Department Stores' Rating
New York, NY, July 13--Moody's Investors Service cut its long-term ratings on May Department Stores Co.'s debt, citing the company's higher borrowings after buying 71 department stores for $3.2 billion.
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.
CFI 11th Convention in Chattanooga This Month
Kansas City, MO, July 13--The CFI 11th Convention is scheduled for July 28-31, 2004 at the Chattanoogan Hotel in Chattanooga, Tennessee.
Frist May Offer Asbestos Counter-Proposal in Senat
Washington, DC, July 13--A Republican counter-proposal on the size of a multibillion-dollar fund for asbestos victims could come within days, the U.S. Senate majority leader said on Monday.
Trade Gap Falls
Washington, DC, July 13--The trade deficit narrowed unexpectedly in May as stronger growth overseas and the weak U.S. dollar helped propel exports to record levels, government data released on Tuesday showed.
Interface’s Anderson Plays the Good Guy
Atlanta, GA, July 13— The Atlanta Journal-Constitution’s recent headline says "Interface CEO Plays Good Guy in Finance Flick." It goes on to say that the latest movie that bashes big, bad business is a Canadian documentary, "The Corporation."
Universal Forest’s 2nd Quarter Earnings Up 15%
Grand Rapids, MI, July 13--Universal Forest Products Inc.'s second-quarter profit rose 15% on revenue growth of 34%.
Setra Group Wins 3-Year Contract from Kahr
Stockholm, Sweden, July 13--The Swedish wood industry company Setra Group AB has secured a three-year contract for pine wood from the flooring maker AB Gustaf Kahr.
Massachusetts Lawmaker and Flooring Contractor Ind
Springfield, MA, July 13--A two-term state representative, his wife, parents, three brothers,and a sister were charged yesterday in a sweeping federal racketeering indictment with bilking the Springfield Housing Authority out of more than $1 million.
Chicago Retailer Sues Newspaper Over Circulation D
Chicago, IL, July 12--A carpet store headquartered in Chicago filed suit on Thursday against the Tribune Co., alleging that the company's newspapers defrauded advertisers by inflating circulation figures.
Q.E.P. Reports Record Sales and Earnings
Boca Raton, FL, July 12--Q.E.P. Co., Inc. today announced financial results for its fiscal 2005 first quarter ended May 31, 2004.