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Tesla Repays DOE Loan Nine Years Early
May 23, 2013 | by Tom Krisher, AP Auto Writer | Comments
Tesla Motors, which makes a highly acclaimed $70,000 electric car, has paid off a startup loan from the U.S. government nine years early. The Palo Alto, Calif., company said it wired in a $451.8 million payment to the government on Wednesday. The money, coupled with two prior payments, paid off a $465 million loan Tesla got from the Department of Energy loan in 2010 to foster development of advanced-technology vehicles.
Study: No Higher Cancer Rate At CT Pratt Plants
May 24, 2013 10:04 am | by Stephen Singer, AP Business Writer | Comments
An 11-year study of the incidence of brain cancer at jet engine manufacturer Pratt & Whitney...
GM Aims New Chevy Cruze Diesel At VW Jetta
May 24, 2013 10:02 am | by Tom Krisher, AP Auto Writer | Comments
The marketing people at Chevrolet make no secret of the goal for the new diesel version of the...
U.S. Durable Goods Orders Rise In April
May 24, 2013 10:01 am | by Martin Crutsinger, AP Economics Writer | Comments
U.S. orders for long-lasting manufactured goods rebounded in April, buoyed by more demand for...
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Daily industrial news and top headlines for plant and maintenance managers
France Won't Force Companies To Cap Executive Pay
May 24, 2013 9:58 am | by Sarah DiLorenzo, AP Business Writer | CommentsThe French government is trying to woo executives and entrepreneurs, amid concerns that it has antagonized the businesses needed to reinvigorate the economy. Finance Minister Pierre Moscovici announced Friday that the government no longer plans to push for a law to cap executive salaries in the private sector.
VW Plant Reaches Production Milestone
May 24, 2013 9:56 am | by The Associated Press | CommentsVolkswagen has reached another production milestone at its assembly plant in Chattanooga, Tenn. The Chattanooga Times Free Press reports that the 250,000th Passat midsize sedan has rolled off the assembly line. The milestone announced Thursday comes barely more than two years since production began at the Tennessee plant.
Shuttered NM Plant Resumes Making Peanut Butter
May 24, 2013 9:54 am | by Jeri Clausing, Associated Press | CommentsThe eastern New Mexico peanut butter plant that was shuttered eight months ago after a salmonella outbreak is back in production, and company officials say their coveted natural and organic butters could be back on store shelves within a month.
Ford To End Auto Production In Australia In 2016
May 23, 2013 12:14 pm | by Kristen Gelineau, Associated Press | CommentsFord Motor Co. said Thursday it will close its two Australian auto plants, ending production in the country in 2016, amid soaring manufacturing costs and plummeting sales. The closure of the U.S. automaker's plants in the state of Victoria will mean the loss of 1,200 jobs and will transform the company into an import-only brand in Australia.
Chevy Spark To Be Among Lowest-Price Electric Cars
May 23, 2013 12:12 pm | by The Associated Press | CommentsGeneral Motors Co. says the Spark EV subcompact will be among the lowest-priced electric cars in the U.S. The electric Spark will have a starting price of $27,495 when it goes on sale next month in California and Oregon. GM also is offering a low-mileage lease for $199 per month, with $999 due when the lease is signed.
GM Recalling Cadillac SUVs To Tighten Wheels
May 23, 2013 12:11 pm | by The Associated Press | CommentsGeneral Motors Co. is recalling more than 27,000 Cadillac SUVs worldwide because the wheels can fall off. The company says the recall affects the 2013 Cadillac SRX with 18-inch wheels. Canadian safety regulators say the wheel nuts may not have been tightened enough at the factory.
Survey: China Manufacturing Contracting
May 23, 2013 12:10 pm | by Joe McDonald, AP Business Writer | CommentsA survey shows China's manufacturing contracted this month, adding to signs a fragile recovery in the world's No. 2 economy is slowing. HSBC Corp. said Thursday the preliminary version of its monthly purchasing managers index fell to a seven-month low of 49.6 from April's 50.4 on a 100-point scale. Numbers below 50 show a contraction.
Fire Marshal's Office: Panel Had Blast Site Access
May 23, 2013 12:08 pm | by The Associated Press | CommentsThe State Fire Marshal's Office says a federal safety panel's investigators had access to the site of a Texas fertilizer plant blast that killed 15 people and injured about 200 others. The chairman of the U.S. Chemical Safety Board had asked for congressional help in obtaining evidence under the control of the state agency and the U.S. Bureau of Alcohol, Tobacco, Firearms and Explosives.
EU Leaders Discuss Fight Against Tax Evasion
May 22, 2013 2:15 pm | by Juergen Baetz, Raf Casert, Associated Press | CommentsEuropean Union leaders on Wednesday sought to advance their fight against tax fraud and close the loopholes for large corporations' tax avoidance schemes. European officials say tax fraud costs the 27-nation bloc an estimated 1 trillion euros ($1.3 trillion) a year at a time when much of the region is in recession and governments are forced to tighten their budgets.
Italy Seizes 1.2B Euros From Steel Family
May 22, 2013 2:13 pm | by The Associated Press | CommentsMilan prosecutors have ordered the seizure of 1.2 billion euros ($1.5 billion) in assets belonging to the family that runs a troubled steel plant in southern Italy. Prosecutors allege in the order Wednesday that the real estate, stocks and other financial assets belonging to the Riva family were obtained through the misuse of funds belonging to the Ilva steel plant.
Tesla Shows Model S To Influence NC Auto Bill
May 22, 2013 2:11 pm | by Chris Kardish, Associated Press | CommentsNorth Carolina lawmakers and passersby stopped to take in a display of Tesla Motors' award-winning electric cars Wednesday as the company presses against a bill in the General Assembly that effectively outlaws Tesla's Internet-based sales model.
German Co., Pepsi Open NY Yogurt Plant
May 22, 2013 2:08 pm | by The Associated Press | CommentsA second yogurt plant is about to open in a Genesee County business park. Sen. Charles Schumer says the Muller Quaker Dairy plant will have a grand opening on June 3. The $206 million dollar plant is a joint venture of PepsiCo and Germany's Theo Muller company.
Boeing Examining Speed-Ups On 787, 737
May 22, 2013 2:07 pm | by The Associated Press | CommentsBoeing may accelerate production of two of its most popular planes — the 787 and the 737. It's already doubling 787 production, from 5 per month last year, on its way toward 10 per month by the end of this year. The efficiency of the 787, Boeing's newest plane, has made it very popular with airlines. The company has orders for more than 800 that it hasn't built yet.
Indian Guest Workers Sue Company In MS, TX
May 22, 2013 2:05 pm | by The Associated Press | CommentsDozens of Indian guest workers are suing an Alabama-based marine and fabrication company, claiming it financially exploited them and forced them to live in squalid conditions after bringing them to work at Gulf Coast shipyards after Hurricane Katrina.
Safety Board: ATF Blocking Plant Blast Probe
May 22, 2013 10:27 am | by The Associated Press | CommentsFederal agents and the state fire marshal have effectively barred a federal safety panel from the site of a Texas fertilizer plant blast that killed 15 people and injured about 200 others, hampering its investigation, the panel's chairman said.
