LOS ANGELES (AP) — A California company and two of its executives were convicted Tuesday of conspiracy charges for bribing government officials at Mexico's state-owned utility in exchange for obtaining lucrative contracts. A federal jury found Keith Lindsey, president of Lindsey Manufacturing Co.
TOKYO (AP) — Toyota's quarterly profit crumpled more than 75 percent after the March earthquake and tsunami wiped out parts suppliers in northeastern Japan, severely disrupting car production. The maker of the popular Prius hybrid gave no forecast for the current fiscal year through March 2012, citing an uncertain outlook because production continues to be hampered by shortages of parts.
DALLAS (AP) — The largest U.S. milk producer, Dean Foods Co., said Tuesday that maintaining and raising its prices and expanding to new markets will help it fight falling milk sales and rising costs and meet its brightened earnings forecasts for the rest of the year. Dean Foods, which cut 600 jobs and reduced other costs during the first quarter, said its net income for the period slid 41 percent from a year earlier.
WASHINGTON (AP) — Wholesale companies increased their stockpiles for the 15th straight month in March, a sign they expect future sales gains. Supply levels at warehouses rose 1.1 percent in March, the Commerce Department said Tuesday. Sales among wholesalers increased 2.9 percent and have risen in eight of the last nine months.
Torrance, Calif. — Toyota Motor Sales, U.S.A., Inc. (TMS) today celebrated the opening of the first hydrogen fueling station in the U.S. fed directly from an active industrial hydrogen pipeline. The station is a collaborative effort between Toyota, Air Products, Shell, South Coast Air Quality Management District (SCAQMD) and the Department of Energy (DOE).
TOLEDO, Ohio — General Motors Co. announced Tuesday it will invest about $2 billion in U.S. assembly and component plants, creating or preserving more than 4,000 jobs at 17 facilities in eight states. "We are doing this because we are confident about demand for our vehicles and the economy," GM Chairman and CEO Dan Akerson said during an event at the 54-year-old Toledo Transmission Plant.
LINCOLN, Ala. (AP) — Honda Motor Co. Ltd. plans to invest $97 million in its auto assembly plant in Lincoln, creating 20 jobs. The Talladega County Commission voted Monday night to approve the tax abatements for the project, which is expected to be completed in late 2012. The project comes as Honda prepares to add production of the Acura MDX luxury sports utility vehicle to its assembly lines.
PHILADELPHIA (AP) — A longtime friend to a Campbell Soup heiress admits she tried to extort the Pennsylvania billionaire in an email titled "When the Soup Boils." Agnes O'Brien pleaded guilty Tuesday to sending extortionist threats to Mary Alice Dorrance Malone. She'll get six years' probation as part of the plea.
DETROIT (AP) — General Motors Co. says former Chairman and CEO Robert Stempel has died. The automaker announced Stempel's death in a statement Monday. The Detroit News and the Detroit Free Press report he was 77 and died Saturday in Florida. Stempel led the company from 1990-92 until he was forced out in a boardroom coup.
LOS ANGELES (AP) — Northrop Grumman Corp. on Monday unveiled a new type of intelligence, surveillance and reconnaissance aircraft that can be flown either robotically or with a pilot aboard. The defense contractor said the Firebird aircraft would allow the military to simultaneously gather real-time high-definition video, view infrared imagery, use radar and eavesdrop on communications.
DETROIT (AP) — Italian automaker Fiat SpA could own more than 70 percent of Chrysler Group within a year once it repays its government loans and exercises other options, Chrysler said Monday in a filing with the U.S. Securities and Exchange Commission. Fiat may acquire the U.S. Treasury's 8.
TOKYO (AP) — Toyota's global car production, disrupted by parts shortages after Japan's March 11 earthquake and tsunami, will likely return to normal two to three months earlier than expected, a report said Tuesday. Japans' top business daily Nikkei said Toyota's output will normalize earlier than the end of this year as parts shortages are easing.
WASHINGTON (AP) — China is using high-level meetings to urge the United States to allow more technology exports into the booming Chinese economy as a way of balancing trade. The United States, meanwhile, has criticized the communist-led nation's latest crackdown on democracy advocates, arguing that long-term stability depends on respecting human rights.
LOUISVILLE, Ky. (AP) — Two people have been injured in a plant explosion in Louisville's Rubbertown district. A MetroSafe Communications supervisor said the explosion at Eckart Aluminum happened around 7 p.m. EDT Monday and occurred indoors at the plant, The Courier-Journal reported.
DETROIT (AP) — U.S. safety regulators are investigating a fuel tank problem that could affect more than 2.7 million Ford F-150 pickup trucks. The National Highway Traffic Safety Administration said Monday that the steel straps holding up the truck's gas tank can rust and break, possibly causing a fuel spill and fire.
SANTA CLARA, Calif. (AP) — Nvidia Corp., which makes processing chips for phones and tablet computers, said Monday that it will buy Icera Inc., a British maker of data-modem chips for wireless devices, for $367 million in cash. The acquisition complements Nvidia's line of Tegra processing chips, and sets the company up to compete against Qualcomm Inc.
With our national debt at crisis levels and the stubborn unemployment continuing to hamper our recovery, AmericasGotProduct.com is asking every American to get out and Test Drive America during the month of June! “In March of this year, we the people bought just over 1.2 million cars and trucks according to the Wall Street Journal and MotorIntelligence.
DETROIT (AP) — A union official says General Motors plans to add 250 to 400 jobs at its transmission factory in Toledo, Ohio. Local union President Ray Wood says GM will invest $260 million to build fuel-efficient, eight-speed automatic transmissions in Toledo starting late next year. CEO Dan Akerson and United Auto Workers Vice President Joe Ashton are scheduled to make the announcement on Monday, along with local and state elected officials.
WASHINGTON (AP) — Vice President Joe Biden and Secretary of State Hillary Rodham Clinton both expressed concerns on Monday about the recent security crackdown that has occurred in China. Biden and Clinton jointly raised the issue at the opening session of two days of high level talks between the United States and China.
What do dozens of American billionaires talk about when they get together? Their topic this week was of course money; not how to make it, but how to give it away. Billionaire investor Warren Buffett said Friday that a private gathering was a great chance for the billionaires who have pledged to give away at least half their wealth to meet each other, compare notes, eat and laugh.