The U.S. Census Bureau of the Department of
Commerce announced that construction spending during June 2007 was estimated at
a seasonally adjusted annual rate of $1,175.4 billion, 0.3 percent (±1.4
percent) below the revised May estimate of $1,178.4 billion.
Watsco Inc., a distributor of air-conditioning
and heating equipment, said its second-quarter profit slid 21% due to a cooler
summer and a slow new-housing market, according to a report from the Associated
Press.
A research
study is currently being conducted to better understand the invoicing challenges faced by wholesale
distributors and their contractor customers.
Sales of new single-family homes slipped 6.6
percent in June to a seasonally adjusted annual rate of 834,000 units as home
buyer demand continued to weaken, according to figures released by the U.S.
Commerce Department.
Tool manufacturer LENOX is offering
professional trades people in the United States and Canada the opportunity to
win a VIP vacation package, plus a private lunch with NASCAR driver Jeff Burton.
American Standard Companies Inc. announced that
it has signed a definitive agreement to sell the company’s worldwide Bath and
Kitchen products business to funds advised by Bain Capital Partners, LLC, a
leading global private investment firm, for $1.755 billion in cash.
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