The deal freezes wages and pensions through September 2012 and for the first time requires workers and retirees to pay health care premiums. Cost-of-living adjustments also are frozen until June 2012.
AK Steel (NYSE: AKS) said that Representative John Boehner (R-8, OH) received the National Association of Manufacturers (NAM) Award for Manufacturing Legislative Excellence today at an award event hosted by AK Steel at its West Chester, Ohio headquarters.
The United Auto Workers Union says its members working for Ford Motor Co. have approved contract changes that include freezing wages and cutting other benefits in a move to aimed at helping the automaker remain competitive.
General Motors Corp.'s auditors have raised "substantial doubt" about the troubled automaker's ability to continue operations, and the company said it may have to seek bankruptcy protection if it can't execute a huge restructuring plan.
Today, Deborah L. Wince-Smith, president of the Council on Competitiveness, called for "focus" on turning energy research and development into real economic value before the Senate Committee on Energy and Natural Resources.
Workers said Tuesday night they believed the firm might lay off more workers on top of the 684 laid off since last year, but they didn't foresee an idling of the landmark plant, which U.S. Steel bought when it took over Stelco in 2007, nor the laying off of a further 720 workers.
Industrial Pulley Puller offers a new low-profile model to their line of portable hydraulic pullers. Safely remove frozen parts with ease, reduce repair time, and avoid equipment damage
Doc-Blok International introduces its Dok-Blok®, a bumper made of mining-grade rubber, moves up and down with the trailer on its own suspension, improving standard rubber bumpers that easily damage and tear.
Ashcroft® Type B700 explosion-proof pressure switches can be specifically configured for harsh pressure media and demanding operating environments. The Type B700 pressure switches are enclosed in a NEMA 7/9–IP66 rated housing, and can be used in Class 1, Division 1&2 and Class 2, Division 1&2 hazardous locations.
Wall Street economists surveyed by Thomson Reuters expect the index from the Institute for Supply Management, a trade group of purchasing executives, dropped to 33.8 last month from 35.6 in January.
Intel has worked extensively with Taiwan Semiconductor Manufacturing Co. on wireless chips and other products. But Santa Clara, Calif.-based Intel said the announcement Monday marks the first time the company has licensed its CPU core to a foundry, which is a plant that make chips for other companies.
The person, who asked not to be identified because a deal had not been announced, said GM would buy back the factory because it makes critical parts for the troubled automaker. A deal could be announced as soon as Tuesday.
"No matter how much money you throw at the automakers, that won't solve the problem. It will actually make things worse" says Viraf Baliwalla, a consumer advocate for car buyers and founder of Automall Network (www.automallnetwork.com) a professional vehicle buying service. "But there is a less risky solution".
The Commerce Department report released Friday showed the economy sinking much faster than the 3.8 percent annualized drop for the October-December quarter first estimated last month. It also was considerably weaker than the 5.4 percent annualized decline economists expected.
Environmental Defense Fund today released a groundbreaking online map that identifies and profiles more than 1,200 companies in key manufacturing states poised to grow their business and create new jobs when Congress passes a cap on global warming pollution.