News

Dozens Of Chinese Power Plants Nearly Without Coal

January 12, 2010 3:45 am | by Joe McDonald, AP Business Writer | Comments

BEIJING (AP) — Dozens of Chinese power plants are running out of coal and might be forced to shut down this week as bitter winter cold boosts demand and snow hampers delivery of new supplies, state media said Tuesday. Factories have been closed in parts of central China where power demand exceeds supply but analysts said they expected no immediate impact on the economy.

Detroit Auto Show Recap: Everything You Need To Know

January 12, 2010 3:40 am | by The Associated Press | Comments

A roundup of highlights and news out of the Detroit auto show on Monday: Chrysler may rehire workers if sales forecasts met DETROIT (AP) — Chrysler CEO Sergio Marchionne said the automaker will start hiring production workers again if it sells enough cars and trucks. Marchionne said at the Detroit auto show that Chrysler Group LLC is revamping its models and will need more engineering and development workers.

Pelosi: Big 3 Bailout An Automotive 'Renaissance'

January 12, 2010 3:37 am | by Ken Thomas, Associated Press Writer | Comments

DETROIT (AP) — House of Representatives Speaker Nancy Pelosi and top Obama administration officials on Monday defended last year's federal bailout of the auto industry, citing optimism that General Motors and Chrysler had made strides only months after exiting bankruptcy. "What we see here today is a renaissance," Pelosi said.

ABB Plant To Reopen Thursday After Shooting

January 12, 2010 3:35 am | Comments

ST. LOUIS (AP) — The ABB Inc. plant in St. Louis will reopen on Thursday, one week after a disgruntled employee shot and killed three co-workers and injured five others before turning the gun on himself. Employees learned of the reopening on Monday, the same day the first of the victims, 27-year-old Cory Wilson of Collinsville, Ill.

Ford To Invest $450m, Create 1,000 Jobs In Michigan

January 12, 2010 3:29 am | by Tim Martin, Associated Press Writer | Comments

LANSING, Mich. (AP) — Ford Motor Co. announced Monday it will invest another $450 million and create about 1,000 jobs as it further consolidates its electric vehicle program in southeast Michigan. The new jobs are mostly tied to advanced lithium ion battery production, including some work shifted from Mexico to Michigan.

Cadmium-Filled Chinese Jewelry For Kids Sold In U.S.

January 11, 2010 3:53 am | by Justin Pritchard, Associated Press Writer | Comments

LOS ANGELES (AP) — Moving swiftly, U.S. product safety authorities say they are launching an investigation into the presence of the toxic metal cadmium in children's jewelry imported from China after disclosure of lab tests showing that some pieces consisted primarily of the dangerous substance.

WTO To Probe 'Protectionist' Tarriffs On Chinese Tires

January 11, 2010 3:35 am | by Bradley S. Klapper, Associated Press Writer | Comments

GENEVA (AP) — The World Trade Organization will launch an investigation into American import taxes on Chinese tires at a meeting of trade diplomats next week, according to a statement Monday. The dispute focuses on a three-year tariff approved in September by President Barack Obama, which aims to slow China's rapid export growth and protect American jobs in the tire sector.

GM Exec: Will Be 'Solidly Profitable' Once Industry Returns

January 11, 2010 3:34 am | Comments

DETROIT (AP) — General Motors Co. should be "solidly profitable" when demand for new cars and trucks rebounds to normal levels, a top executive said on the eve of the Detroit auto show. Bob Lutz, GM's vice chairman, said during a speech Sunday to the Society of Automotive Analysts that the U.

Ford Sweeps 2010 North American Car, Truck Awards

January 11, 2010 3:30 am | by Tom Krisher, AP Auto Writer | Comments

DETROIT (AP) — The Ford Fusion Hybrid midsize sedan wins the 2010 North American Car of the Year, while the Ford Transit Connect takes truck of the year at the Detroit auto show. Forty-nine auto journalists made the picks. Finalists for the car award included the Buick LaCrosse and Volkswagen Golf GTI.

Ford Unveils New Focus To Be Sold Globally

January 11, 2010 3:27 am | Comments

DETROIT (AP) — Ford Motor Co. is unveiling the 2012 Focus, a small sedan that is the company's first truly global car. The new Focus, due in European and North American showrooms early next year, was designed and engineered to be sold worldwide using almost all the same parts, unlike past versions.

Cities Struggle To Revive Abandoned Automaking Plants

January 11, 2010 3:23 am | by David Runk and Jeff Karoub, Associated Press Writers | Comments

WIXOM, Mich. (AP) — Henry Ford's great-grandson arrived at the shuttered auto plant to brag about a plan to revive the vast empty space: Investors would transform it into a modern factory to make solar panels and high-tech energy systems instead of Town Cars and Thunderbirds. "I can't imagine a better way to reuse the facility," Bill Ford said during his visit to the former Wixom Assemblyplant in September.

Panasonic Aims For No. 1 'Green' Electronics Company

January 8, 2010 4:03 am | by Tomoko A. Hosaka, Associated Press Writer | Comments

TOKYO (AP) — Panasonic Corp. said Friday it aims to catapult sales by more than a third in three years in an aggressive bid to become the dominant electronics company in green technologies. The Japanese electronics giant is targeting revenue of 9.5 trillion yen ($101.7 billion) in the fiscal year ending March 2013, up from the 7 trillion yen ($74.

NY Seeks Change On Tax Breaks For Manufacturing Jobs

January 8, 2010 4:02 am | by Michael Virtanen, Associated Press Writer | Comments

ALBANY, N.Y. (AP) — The Paterson administration wants to change the way New York businesses get tax breaks for job creation, proposing credits for research and development, capital investment and payroll costs for new jobs in high technology, biotechnology, clean energy, finance and manufacturing.

Executives Covered Up Death Toll In Chinese Gas Leak

January 8, 2010 3:42 am | Comments

BEIJING (AP) — State media says 21 workers were killed by a gas leak at a factory in northern China earlier this week after executives were caught underreporting the number of deaths. The Xinhua News Agency says workers were poisoned after a gas pipeline broke at the Hebei Puyang Iron and Steel Co.

TVA Coal Spill A $428 Million Payday To Contractors

January 8, 2010 3:34 am | Comments

KNOXVILLE, Tenn. (AP) — Cleaning up the Tennessee Valley Authority's coal ash spill at Kingston is already delivering big paydays for some contractors and it's a tab rate payers should be watching. The nation's largest public utility has open contracts that total $428.5 million. A review of the contracts by The Knoxville News Sentinel shows that 10 firms are under contract to make more than $10 million each from the first phase of the cleanup.