NEW YORK (AP) — At his first press conference as CEO of Ford, Alan Mulally was asked how he could run such a complex company with no experience in the car business. The former Boeing executive responded that cars, which have around 10,000 parts, are indeed very sophisticated. Then he smiled and noted that a jumbo jet has 4 million parts — and it flies.
WASHINGTON (AP) — The union in a high-profile labor dispute with Boeing Co. says newly released documents show the company opened a new plant in South Carolina to limit the power of employee unions in Washington state. The Machinists union says the documents bolster the government's lawsuit accusing the company of retaliating against unions by opening a second production line for the 787 aircraft in Charleston.
CONWAY, Ark. (AP) — Virco Manufacturing Co. in Conway says it plans to offer buyouts and early retirement to total of 115 employees. The company makes furniture for schools and has operated in Conway since 1950. Virco told the Log Cabin Democrat (http://bit.ly/rrPvMu) on Thursday that the slow economy has slowed the pace of new orders and it has to reduce its workforce.
WILLIAMSTOWN, W.Va. (AP) — Hino Motors Manufacturing USA is preparing to resume full production at its West Virginia plant following a cutback caused by a parts shortage. Sandy Ring with Hino's home office in Michigan says the Williamstown plant has returned to a five-day work week with three days of production.
LAFAYETTE, Ind. (AP) — Caterpillar Inc. has recalled many of the 400 workers it laid off from a central Indiana engine plant and is starting to hire more people. The Lafayette Redevelopment Commission on Thursday approved a $50,000 grant to Caterpillar for training new workers that the company plans to hire in the next year.
WASHINGTON (AP) — A Republican House chairman blasted the solar industry Thursday, calling loans to solar panel manufacturers, such as ill-fated Solyndra Inc., a poor bet and predicting the solar panel industry itself could collapse in the United States. An industry group immediately disputed the remark by Rep.
DETROIT (AP) — Negotiations over a new four-year contract between Chrysler and the United Auto Workers have broken down as both sides refuse to budge on key financial issues, two people briefed on the bargaining said Thursday. The talks ended late Wednesday in a dispute over the number of workers who are paid an entry-level wage, said the people, who asked not to be identified because the negotiations are private.
OSSEO, Wis. (AP) — Instead of sending work to Mexico, a manufacturer is bringing jobs from Mexico to Wisconsin. Global Finishing Solutions is completing a $10 million expansion at its headquarters in Osseo (AHS'-ee-oh) that's expected to create 111 new jobs over the next three years.
LUXEMBOURG (AP) -- "There's only one Budweiser beer," according to the Anheuser-Busch advertising jingle. But that's not the case in Britain, as an EU court ruled Thursday that Anheuser-Busch and the Czech brewer Budvar can both continue to use the Budweiser trademark. British beer drinkers are well used to there being two Buds.
DETROIT (AP) — Moody's Investors Service is considering upgrading General Motors Co.'s credit ratings based on improvements in its finances and the expected ratification of a new contract with the United Auto Workers union. GM currently has a Ba2 corporate family rating and a Baa3 secured credit rating from Moody's.
NEW YORK (AP) — United Technologies Corp. said it will buy Goodrich Corp. for about $16.4 billion in cash, calling the aerospace and defense company a perfect addition that will allow it to take advantage of rapidly growing demand for aircraft components. The Hartford, Connecticut-based industrial conglomerate already owns jet engine manufacturer Pratt & Whitney as well as Carrier heating and cooling, Otis elevator and other businesses.
WASHINGTON (AP) — Young adults are the recession's lost generation. In record numbers, they're struggling to find work, shunning long-distance moves to live with mom and dad, delaying marriage and raising kids out of wedlock, if they're becoming parents at all. The unemployment rate for them is the highest since World War II and risk living in poverty more than others.
WASHINGTON (AP) — Federal regulators want to fine the Cessna Aircraft Co. $2.4 million, saying the company's failure to follow quality-control procedures caused a 7-foot composite section of the wing of small, high-performance plane to detach during a test flight. The Federal Aviation Administration said Thursday that one of the agency's pilots was conducting a test flight of the Cessna Corvalis last December when a portion of the wing skin separated from the forward spar and damaged a fuel tank.
BEIJING (AP) -- China's fast growing demand for aircraft has become a strong influence on how Boeing Co. designs and markets its newest planes, one of the company's executives said Wednesday. Ihssane Mounir also said Boeing welcomes future competition from China's state-owned COMAC, which is developing a pair of passenger jets, but warned the commercial aircraft business could be punishing.
DETROIT (AP) — Now that the United Auto Workers union has a tentative contract with General Motors, its negotiators will focus on getting a labor agreement from Chrysler. But smaller, less profitable Chrysler may not have the resources to match the bonuses and profit-sharing that GM offered workers last week, people brief on the talks say.
WASHINGTON (AP) -- The Senate on Tuesday rejected a Republican-led attempt to revive a law, last in force four years ago, that made it easier for the president to move free-trade deals through Congress. The vote was 55-45 to defeat a proposal by Senate GOP leader Mitch McConnell to authorize trade promotion authority, also known as "fast track," through 2013.
SAN FRANCISCO (AP) — Hewlett-Packard Co. shares jumped Wednesday after reports that the technology company's board is mulling the removal of CEO Leo Apotheker, who has been on the job for less than a year. THE SPARK: Citing two unnamed people "familiar with the matter," Bloomberg reported Wednesday that HP's board intends to hold a meeting to discuss getting rid of Apotheker, 58.
HAYWOOD, W.Va. (AP) — The worker killed at a Harrison County power plant has been identified, and a federal investigation is under way. The Exponent Telegram (http://bit.ly/pYyoyu) says the victim was 63-year-old Ned Johnson of Rivesville. He died Sunday when he was pinned between a machine and a wall at the Harrison Power Station in Haywood.
WASHINGTON (AP) — The Internal Revenue Service is offering a break to employers who come clean about wrongly classifying workers as independent contractors to avoid paying federal payroll taxes. What happens when workers are considered independent contractors? Employers don't have to pay various taxes, including unemployment insurance taxes, workers' compensation premiums or the employer's share of Social Security and Medicare taxes.
WASHINGTON (AP) — The world economy has entered a "dangerous new phase," according to the chief economist of the International Monetary Fund. As a result, the international lending organization has sharply downgraded its economic outlook for the United States and Europe through the end of next year.