General Motors CEO Dan Akerson said Wednesday he hopes the company regains investment-grade credit status this year. He told reporters that the company is working with credit rating agencies to raise its status from junk, where it's been since 2005. Akerson said the company's recent $11 billion credit line received investment grade rating, showing that banks are ahead of the ratings agencies.
Don't be surprised if some people assume the 2013 Chevrolet Spark is another newfangled electric car. Just 12 feet long and with an aerodynamic front end and abruptly chopped-off rear, the South Korean-built Spark could pass for an electric car. But there's no plug and no problem with fueling the 2013 version of this Chevrolet, because it comes with a gasoline-sipping, internal combustion, four-cylinder engine.
Archer Daniels Midland has temporarily shut down operations at its corn processing plant in central Illinois after an early morning explosion damaged the facility. ADM spokeswoman Jackie Anderson says a fire broke out after the explosion in the maintenance area of the Peoria plant at about 3 a.m. Wednesday. Nobody was hurt but fire officials say one person was taken to the hospital as a precaution.
Gov. Rick Scott wants to eliminate Florida's sales tax on equipment and machinery bought by businesses. Scott on Wednesday in Jacksonville said he will ask the Legislature this year to fully exempt such purchases from sales tax. Florida currently offers a sales tax exemption on equipment purchased for industrial use if it expands a manufacturer's output by at least 5 percent.
A new defense spending plan will keep the nation's only tank manufacturing plant operating through the next two years, ending months of worry about the future of the factory where about 800 workers refurbish the Abrams tanks. Funding for tank upgrades has been on the chopping block the past two years and the debate over the potential cuts backed by the White House entered into the presidential campaign this past fall.
United Technologies Corp. said Tuesday that airplane manufacturer Embraer will use an engine made by United Technologies' Pratt & Whitney division in the second generation of the E-Jet aircraft family. United Technologies said Embraer chose Pratt & Whitney's PurePower Geared Turbofan engine for its E-jet.
What could new troubles mean for the future of Boeing's 787 Dreamliner? Are these problems growing pains or something more significant? CBS News travel editor Peter Greenberg speaks to the "CBS This Morning" co-hosts about the continuing issues.
World stock markets rose Wednesday after the fourth-quarter earnings season got off to a positive start in the U.S. with aluminum giant Alcoa forecasting higher demand for 2013. Because Alcoa makes aluminum for so many key industries, investors study its results for clues about the health and direction of the overall economy.
Chevrolet is dropping its "Chevy Runs Deep" slogan and replacing it with the new tagline "Find New Roads," saying that it's better geared toward drivers outside the U.S. The General Motors Co. brand pointed to its significant overseas expansion over the past several years, noting that it's developing products for sale in more than 140 markets around the world.
In the not-so-distant future, couch potatoes will be waving, pointing, swiping and tapping to make their TVs react, kind of like what Tom Cruise did in the 2002 movie "Minority Report." That's the vision of TV manufacturers as they show off "smart TVs."
The Chinese company that bought MiaSole, a California producer of thin-film solar panels, says it can make the emerging technology successful where others have suffered huge losses. Hanergy Group's strong finances will help MiaSole invest in research and ride out a downturn in the global solar market, while its links to customers in China and abroad will help build sales, chairman Li Hejun said Wednesday.
Boeing officials say they will begin actively marketing the company's Wichita defense facilities by the end of January. The company announced last year that it was closing the Wichita plant and moving work to Oklahoma, Texas and the Pacific Northwest. Boeing owns 97 buildings on 413 acres, with properties ranging from large hangars to tool sheds.
Yanmar Co., a Japanese maker of agricultural equipment, engines and boats, said Wednesday it will build a new plant in Indonesia to produce diesel engine parts and other products. Yanmar said its move to set up the factory at an industrial complex in eastern Jakarta by investing roughly 7.5 billion yen is aimed at enhancing the company's cost competitiveness through overseas production.
Downtime is dangerous to any manufacturing group. After all, the old saying that compares time to money is true. If people or machines are idle, then products are not being made, which certainly affects the business’s bottom line — minimizing manufacturing downtime makes money for a company.
2012 has come and gone. With a new year staring us down, it’s time for new resolutions. Resolutions involve change, which can be tough for manufacturers. Many manufacturers are conservative in their approach to changing IT solutions — solutions they have become extremely reliant upon and familiar with.
Record unemployment and fraying social welfare systems in southern Europe risk creating a new divide in the continent, the EU warned Tuesday, when figures showed joblessness across the 17 EU countries that use the euro hit a new high. Eurozone unemployment rose to 11.8 percent in November, the highest since the euro currency was founded in 1999, according to the statistical agency Eurostat.
Hawaiian Airlines said Monday it plans to buy more than a dozen new Airbus planes to help it meet demand for travel between the West Coast and the islands. The planes — to be delivered four to seven years from now — will allow Hawaiian to open new markets and boost service to cities it already flies to, the airline said. The Honolulu-based airline plans to add 1,000 jobs as part of the expansion.
Silicor Materials says it has not given up on locating an operation in Mississippi. Last week, Silicor's proposed project in Lowndes County failed when the company missed a deadline to put up $150,000 to secure land and incentives. Local officials said the money was refundable to ensure that Silicor start construction by June 30 of 2013.
Schnitzer Steel posted a $2 million loss for the first quarter Tuesday, dragged down by restructuring charges and weak demand. For the quarter ended Nov. 30, the company's loss amounted to 6 cents per share, compared with a profit of $7 million, or 25 cents per share, in the same quarter last year.
Stockmeier Urethanes USA Inc. plans to expand its operations in Clarksburg. President and CEO Christian Martinkat tells The Exponent Telegram that the company is acquiring three-and-a-half to 4 acres and an office building adjacent to its plant from Thrasher Real Estate Investment LLC. The cost of the acquisition is $1.85 million.