CHICAGO — Prime Advantage, the leading buying consortium for midsized industrial manufacturers, announced the findings of its third annual Group CFO Survey, revealing the top financial concerns of its member companies’ CFOs in 2011. CFOs are seeing solid signs of the economic recovery in U.
January U.S. manufacturing technology consumption totaled $371.41 million, according to AMTDA, the American Machine Tool Distributors’ Association and AMT - The Association For Manufacturing Technology. This total, as reported by companies participating in the USMTC program, was down 16.
TOKYO (AP) — It took only minutes for the earthquake and tsunami to devastate Japan's northeast. Rebuilding will take years — if it can be afforded. The relentless wall of water that the quake unleashed killed thousands, swept away whole towns, inundated roads and knocked ports, oil refineries, steel plants and factories out of action.
SOUTH BEND, Ind. (AP) — The 20-year-old Notre Dame student who was killed when the hydraulic lift he was on fell over as he filmed the football team on a windy day had expressed displeasure about practice being held outside, according to a state report released Tuesday. Declan Sullivan wasn't happy when he found out the team would be practicing outside last Oct.
DETROIT (AP) — Two Japanese automakers are scaling back production at North American plants as they assess their ability to get parts from Japan after that country's devastating earthquake and tsunami. Subaru of America said Tuesday it has suspended overtime at its only North American plant in Lafayette, Ind.
LOUISVILLE, Ky. (AP) — Ford Motor Co. CEO Alan Mulally previewed his company's next Kentucky-made vehicle Tuesday night, saying the new version of the Escape small SUV that will roll off the assembly line at a retooled Louisville manufacturing plant will be transformational. Mulally also praised the automaker's partnership with Louisville, calling the city where Ford has twomanufacturing plants a "center of excellence.
LEXINGTON, Ky. (AP) — Toyota manufacturing employees in North America who donate money to earthquake and tsunami relief in Japan will have their gifts matched by the company. Employees, temporary workers and contractors are all eligible, and there is no cap on the match. Spokesman Rick Hesterberg told the Lexington Herald-Leader that the Erlanger-based manufacturing operations will match donations dollar for dollar.
JEFFERSON CITY, Mo. (AP) — Missouri senators gave first-round approval Tuesday to legislation that restricts employees from suing co-workers over injuries incurred on the job. The legislation also expressly states that occupational diseases, such as health problems associated with asbestos exposure in a workplace, are covered by the state workers' compensation system.
PARIS (AP) — A security agent for Renault has been charged with fraud and accused of inventing industrial espionage claims that led the French carmaker to wrongly suspect — and suspend — three executives, the state prosecutor said Monday. The cloak-and-dagger affair, in the public eye since January, was deeply embarrassing for France's second biggest carmaker, which announced that all executives involved, including president Carlos Ghosn and chief operating officer Patrick Pelata, would forego all stock option benefits for 2011 and the "variable portion" of their 2010 earnings.
DALLAS (AP) — Chip maker Texas Instruments Inc. said Monday that "substantial" damage to one of its majormanufacturing plants near Tokyo in last week's earthquake will result in extra costs and lost revenue in the first half of this year. The Miho plant, which produces mostly analog chips but also makes digital light processing technology used in televisions and projectors, won't return to full production until mid-July.
MIDDLETON, Mass. (AP) — Investigators working to determine the cause of a chemical plant explosion that shook a neighborhood and sent four people to the hospital were still waiting Monday for clearance from structural engineers to get into the building. The blast and fire happened Sunday night at Bostik Inc.
STILLWATER, Okla. (AP) — An Oklahoma State University professor says she's found a way to turn byproducts from the production of soda pop into ethanol. Biosystems and agricultural engineering associate professor Danielle Bellmer said that by adjusting the pH levels she has found that the leftover materials from soda manufacturing can be converted into ethanol.
WASHINGTON (AP) — Toyota, Honda and Nissan are halting production in Japan for most of the week as they review damage to plants, roads and ports following the deadly earthquake and tsunami. Analysts say U.S. dealers have an adequate supply of vehicles and do not expect car shoppers to find fewer choices at dealerships.
FAIRFIELD, Conn. (AP) — General Electric Co. Chairman and CEO Jeffrey R. Immelt's 2010 compensation more than doubled to $15.2 million as the company benefited from a recovering economy. Immelt's $3.3 million salary was unchanged from the previous year, according to an Associated Press analysis of a company filing on Monday.
OMAHA, Nebraska (AP) — Warren Buffett's Berkshire Hathaway Inc. is buying specialty chemicals company Lubrizol Corp. for about $9 billion in cash, making it among Berkshire's biggest acquisitions. The companies said Monday that the transaction also includes about $700 million in net debt. Berkshire will pay $135 per share, a 28 percent premium to Lubrizol's closing stock price Friday of $105.
HANAHAN, S.C. (AP) — A company in Hanahan plans to hire between 75 and 100 workers to provide warehouse services for the new Boeing plant. The Post and Courier of Charleston reports that New Breed Logistics will store and deliver parts from suppliers to the aircraft manufacturer. The Boeing plant is supposed to open in North Charleston this summer.
OLYMPIA, Wash. (AP) — A Microsoft backed anti-software-and-hardware piracy measure moving through the Washington state Legislature is drawing sharp opposition from other giant technology companies and a group of big-name retailers, setting up a contentious political fight among these multi-national companies that could spread to other states.
BETHESDA, Md. (AP) — The CEO of defense contractor Lockheed Martin Corp. received 2010 compensation worth $19.1 million, 7 percent less than in 2009, according to an Associated Press analysis of a regulatory filing by the company. Robert J. Stevens got a bigger annual bonus, and his stock awards grew slightly.
BEIJING (AP) — Chinese authorities have arrested 3,001 people in their latest crackdown on rampant product piracy and seized fake or counterfeit medicines, liquor, mobile phones and other goods, officials said Sunday. The campaign launched in October comes as Beijing faces pressure from the United States and other trading partners to stamp out product copying.
DES MOINES, Iowa (AP) — Angered by repeated releases of secretly filmed videos claiming to show the mistreatment of farm animals, Iowa's agriculture industry is pushing legislation that would make it illegal for animal rights activists to produce and distribute such images. Agriculture committees in the Iowa House and Senate have approved a bill that would prohibit such recordings and punish people who take agriculture jobs only to gain access to animals to record their treatment.