September 16,
2013 by in Bankruptcy, Industry 
Bankrupt Furniture Brands International has asked a federal judge in Delaware to let it pay more than $5 million in bonuses to 55 employees, including seven company insiders, if its assets are successfully sold at auction.
The manufacturer, which hasn't made a profit in six years, said the bonuses would be paid for reaching incentives that "will not be easy."...
Read Full Article...
Source: Law360
September 16,
2013 by in Bankruptcy, Industry
Furniture Brands Canada, a subsidiary of bankrupt Furniture Brands International, has also filed for bankruptcy and laid off all its salaried employees.
Furniture Brands launched the Canadian subsidiary in 2009. Furniture Brands Canada listed liabilities of about $2.1 million and assets of about $409,000 in its bankruptcy notice. Its salaried employees are owed just more than $70,400, according to the notice.
...
Read Full Article...
Source: St Louis Business Journal
September 16,
2013 by in Industry, Obituaries
Robert S. Fogarty, Jr. died in the company of his family on Sept. 11 due to complications from Myasthenia Gravis and cancer.
He was a loving husband and family man, a loyal patriot, a scholar, an accomplished basketball player, and a titan of American industry. He was pre deceased by his sister Catherine F. Whalen and his parents Robert S. and Christine Fogarty. His wife Harriett, daughters Paula and Lea, and son Dean survive him.
...
Read Full Article...
Source: South Hill Enterprise
September 13,
2013 by in Executive Changes, Industry
Dave Moore has been named vice president and chief brand officer for Ethan Allen Interiors (NYSE: ETH).
September 13,
2013 by in Carpets / Rugs, Industry, Product, Special Events
Several rugs from rug and home furnishings vendor Surya are in the Mercedes-Benz Star Lounge at Mercedes-Benz Fashion Week, being held this week in New York City.
September 13,
2013 by in Community / Charitable Support, Industry
Art Van Furniture will salute Michigan's military veterans and their families at a free Veteran's Tribute Celebration on Sunday, Sept. 22.
September 13,
2013 by in Economic News, Industry
U.S. retail sales rose less than expected in August even as demand increased for automobiles and other big-ticket items, the latest sign that economic growth slowed in the third quarter.
The Commerce Department said on Friday retail sales increased 0.2 percent last month as Americans bought automobiles, furniture and electronics and appliances.
...
Read Full Article...
Source: Yahoo! News