JUST FACTS: Journalists, professional reporters, are morally obligated to present an honest and accurate account of events to his or her readers. Last week I was dismayed to see this fundamental tenet violated in the trade press. Alan Greenspan, former chairman of the Federal Reserve, a scholar and financial wizard respected all over the world, noted in a speech that it was his opinion that a U. S. recession is possible but unlikely. In a recent editorial, an editor referred to “…Alan Greenspan’s remarks saying a recession was probable.” The writer admitted, “No one I know ever understood a word that man said.” Try Warren Buffett, Bob Shaw, Carl Bouckaert, Ralph Boe, Frank Ready, Jeff Lorberbaum and thousands of others. The difference between possible and probable is like a trickling spigot and a tsunami. Possible is theoretically capable of happening although difficult or unlikely in practice. Probable is likely to occur or be true. Later in that same speech, Greenspan acknowledged that most economists are not predicting a recession. The original story appeared in Bloomberg News and they understood everything Greenspan said.

STATS: World demand for hard surface flooring and carpet is projected to climb 4.1% annually through 2010 to 14.7 billion square meters, valued at $162 billion. Product demand will be strengthened by an increase in nonresidential building construction as world economic growth accelerates and industrialization efforts continue in less developed parts of the globe. China will record the largest gains of any country and will surpass the U.S. to become the biggest floor covering market in the world. It is also expected that sales growth will be strong in India, as well as in lower-volume markets such as Indonesia, Turkey, Iran, the Ukraine and Saudi Arabia. Floor covering demand in Japan will show renewed strength following an extended period of decline. In the U. S., flooring sales will be driven by increases in nonresidential construction and motor vehicle production. However, says The Freedonia Group, a research firm based in Cleveland, new housing starts in the nation are expected to decline, preventing the floor covering market from expanding at a faster rate.

MORE: According to the study, demand for nonresilient flooring (ceramic, wood and laminate, etc.), which is by far the most popular type of floor covering worldwide, will outpace sales of both resilient flooring (which includes vinyl, linoleum and rubber products), and carpet and rugs through 2010. Suppliers of carpet and rugs, the second most widely used type of floor covering, will benefit from an increase in building construction expenditures in western Europe, rising construction activity in other parts of the world and, to a lesser extent, growth in global motor vehicle production. Demand for resilient flooring, which accounts for the remainder of floor covering sales, will be stimulated by its comparatively low cost and its favorable performance characteristics, like high underfoot comfort, noise absorption, durability and wear resistance.

FAREWELL FABIAN: After 53 years in the floor covering industry, 17 of which were with Mohawk Industries, Fabian Parlo announced his retirement. He began his career in 1953, after graduating from Rider University and a tour of duty in the Army during the Korean conflict, when he joined Harrison Floor Covering. The following year, he opened his own retail operation and ran it for 18 years, until he joined Kane Carpet, a major east coast distributor, in 1972. In 1990, he went to work for Aladdin Mills, which later merged with Mohawk Industries, and Parlo closed his career with a flourish, a 17-year stint with the Mohawk family. We wish him well.

PAUL’S PARTING: Another floor covering veteran opts for fishing and golf. Paul Smith decided to retire as a 38-year salesman of Armstrong products. Smith was a salesman in the Carolinas territory for William M. Bird, an Armstrong distributor. Bird recently won Armstrong’s Hardwood Distributor of the Year Award. Good luck, Paul Smith.