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Daily industrial news and top headlines for plant and maintenance managers
Hyundai Accelerates To Record Profits
October 22, 2009 4:49 am | by Kelly Olsen, AP Business Writer | News | CommentsSEOUL, South Korea (AP) — Hyundai Motor Co., South Korea's largest automaker and a growing force in the global industry, said third-quarter net profit more than tripled to a record high amid sharply higher sales. Hyundai Motor said in a regulatory filing Thursday that it earned 979.
CAT Picks 34-Year Veteran Oberherlman As New CEO
October 22, 2009 4:45 am | News | CommentsPEORIA, Ill. (AP) — Caterpillar Inc., the world's largest maker of construction and mining equipment, said Thursday that Douglas Oberhelman will become the company's CEO starting in July of next year. The Peoria, Ill.-based company said Oberhelman, 56, will succeed current Chief Executive Jim Owens on July 1.
Bailed-Out Companies Ordered To Slash Exec Compensation
October 22, 2009 4:39 am | by Martin Crutsinger, AP Economics Writer | News | CommentsWASHINGTON (AP) — The Treasury Department on Thursday is expected to order seven companies that have not paid back last year's government bailouts to halve their top executives' average compensation. The cuts apply to the 25 highest-paid executives at banks and other companies that received the most assistance, with salaries being slashed by as much as 90 percent, according to a person familiar with the matter.
Disgruntled Meatpacker Tosses Glove Into Grinder
October 22, 2009 4:34 am | News | CommentsDES MOINES, Iowa (AP) — Officials say a cotton glove found in a meat grinder at a Des Moines meatpacking plant stopped production and led to an inspection of about 40,000 pounds of meat. Police have no motive for last Thursday's incident at Swan Packing Inc. But the plant's general manager, Jerry Rowles, blames a disgruntled employee who police have yet to identify.
Vibration Due To Shaft Misalignment
October 21, 2009 10:38 am | by Bill Hillman, technical contributor for LUDECA, INC. | Articles | CommentsUnlike imbalance, misalignment does not produce forces that are similar in the radius of the machine. Vibration in one radial direction may be very different in amplitude when compared to vibration in another radial direction. This is one instance where amplitude readings are not only helpful in detecting a problem but also helpful in diagnosing a problem.
Why I Fired GM's CEO
October 21, 2009 9:13 am | Articles | CommentsYesterday Steve Rattner, the former head of Obama's automotive task force, said he was alarmed by the "stunningly poor management" of GM and Chrysler earlier this year and considered GM to have "perhaps the weakest finance operation any of [the task force] had ever seen in a major company." Ouch.
Bentley Motors Benefits From Design For Manufacture
October 21, 2009 7:30 am | Articles | CommentsWith a heritage covering almost a century, Bentley Motors is among the world’s most iconic brands. The mixture of speed and luxury combine in the Continental and Arnage ranges to suit the world’s most discerning drivers. From Bentley’s Crewe, UK plant, the company produces limited numbers of hand-finished cars that incorporate the famous leather and wood craftsmanship that typify the brand.
Workers' Compensation Loss Run Reports: How To Assess Your Safety Culture
October 21, 2009 7:20 am | by Teresa A. Long, Director of Agency Services, The Institute of WorkComp Professionals | Articles | CommentsWhile it may not sound very exciting, a Loss Run Report documents information about your company’s Workers’ Compensation claims––and that includes where your money is going. Loss run reports come from your insurance company or Third Party Administrator (TPA). While some reports are more thorough than others, there is always useful information on job-related accidents and claims.
Mother Sues Louisville Slugger For Son's Death
October 21, 2009 4:58 am | News | CommentsHELENA, Mont. (AP) — A woman is suing the maker of Louisville Slugger aluminum baseball bats over the 2003 death of her son, who was hit with a ball during a youth league baseball game. Opening arguments began Tuesday in Helena's district court. Debbie Patch says her teen son Brandon was pitching for the Miles City Mavericks when a ball hit by a Helena Senators batter struck him in the temple, causing a fatal injury.
Throw The Book At Him
October 21, 2009 4:52 am | by by David Mantey, Editor, PD&D | Blogs | CommentsBeijing Autos (BA) says it doesn’t know anything about the ex-engineer who photocopied thousands of documents and coincidentally took an overseas vacation to shop his merchandise to the highest bidder. Yeah, and I denied it when the side view mirror disappeared out of my father’s truck and a bird was left to take the rap.
Auto Task Force 'Shocked' By Detroit Mismanagement
October 21, 2009 4:43 am | by Ken Thomas, Associated Press Writer | News | CommentsWASHINGTON (AP) — The shockingly poor financial management of General Motors and Chrysler weakened their case for a government bailout, but officials feared letting the automakers collapse would severely harm the U.S. economy, the former head of the Obama administration's auto task force says.
Sun Microsystems Cutting Up To 3,000 Jobs
October 21, 2009 4:37 am | by Jordan Robertson, AP Technology Writer | News | CommentsSAN FRANCISCO (AP) — Sun Microsystems Inc. plans to eliminate up to 3,000 jobs, or 10 percent of its worldwide work force, as it awaits a takeover by Oracle Corp., a deal being held up by antitrust regulators in Europe. The layoffs Sun outlined Tuesday in a regulatory filing are the latest in a series of job cuts at the world's No.
Boeing Loses $1.6b In Midst Of 787 Mess
October 21, 2009 4:19 am | by Daniel Lovering, AP Manufacturing Writer | News | CommentsBoeing Co. lost $1.6 billion in the third quarter as charges from its delayed 787 and revamped 747 dragged down results. Those charges also forced the airplane maker to slash this year's profit forecast. Shares of the Chicago-based company fell $1.22, or 2.4 percent, to $50.67 in pre-market trade after results were announced Wednesday.
Fisker Deciding On Plant For Luxury Electric Cars
October 21, 2009 4:18 am | by Ken Thomas, Associated Press Writer | News | CommentsWASHINGTON (AP) — Fisker Automotive, a California-based startup manufacturer of luxury electric vehicles, plans to announce shortly the location of a U.S. manufacturing facility where it will build plug-in electric vehicles, its top executive said Tuesday. Henrik Fisker, the company's co-founder and chief executive, declined to elaborate on the site of the retooled plant but said in an interview that the company considered several existing factories.
Excuse Me, Did You Forget Your 44 Tons of Rotting Meat?
October 21, 2009 4:12 am | by Carson Walker, Associated Press Writer | News | CommentsSIOUX FALLS, S.D. (AP) — The owner of a South Dakota packing plant who left behind 44 tons of rotting kosher bison meat when he relocated his business to Minnesota has agreed to pay part of the cost of cleaning up the mess, his attorney said. Mike Unke, an attorney for Ilan Parente, said his client will pay back some of the $11,151 in costs it took to clean up the Bridgewater Quality Meats plant after it closed in January 2008.
