Gov. Robert Bentley joined Honda officials in Lincoln on Thursday to celebrate the start of production for the 2014 Acura MDX sports utility vehicle. About 1,500 employees attended the ceremony Thursday. Honda officials said the automaker invested $400 million and hired more than 400 people to support the production of the MDX. The Honda plant now employs more than 4,000 people.
BP PLC has agreed to pay $340 million to restore four of the barrier islands that act as hurricane buffers for Louisiana's mainland and create two fish research hatcheries in the state, Gov. Bobby Jindal said Tuesday. The money is part of $1 billion the oil giant agreed two years ago to pay for early restoration work after the 2010 Deepwater Horizon oil spill.
Electric car maker CODA Holdings Inc. filed for bankruptcy protection Wednesday after selling just 100 cars and said it plans to quit the auto business altogether. The Los Angeles-based parent of CODA Automotive filed for bankruptcy protection in federal court in Delaware. A consortium of debtors plans to acquire CODA for $25 million, according to a company statement.
A juror says she wanted to send a message by supporting a historic $240 million verdict for 32 mentally disabled men who faced decades of abuse by a Texas company: Never again. Juror Robin Griebel outlined her rationale for awarding $7.5 million to each former employee of Henry's Turkey Service, while the men, their attorney and relatives celebrated Wednesday's verdict.
A former General Motors engineer convicted of stealing thousands of pages of hybrid technology was sentenced Wednesday to just a year and a day in prison, far below the punishment sought by the government in a case that involved her husband and an alleged scheme to take the trade secrets to China.
The U.S. trade deficit narrowed in March for a second month as the daily flow of imported crude oil dropped to the lowest level in 17 years. The deficit with China hit a three-year low. The trade deficit decreased to $38.8 billion, an 11 percent drop from February's $43.6 billion, the Commerce Department reported Thursday.
Ford Motor Co. said Thursday that it's adding 2,000 workers to the Missouri plant that makes the F-150 pickup because of surging U.S. truck demand. The company plans to add a shift with 900 workers in the third quarter of this year to make pickups. That's in addition to the 1,100 workers Ford will hire to make the new Transit van. Those workers will start in the fourth quarter.
A steel fabricator plans to add more than 150 jobs over the next three years at its Dawson County plant, company executives said, to supply parts for a new Caterpillar production facility near Athens. The Times of Gainesville reported that Impulse Manufacturing will produce parts for several small excavators that will be produced at the new Caterpillar plant.
Quincy Compressor has acquired the assets of four National Pump & Compressor’s (NPC) branches in the state of Illinois. Formerly operating as Cochrane Compressor and acquired by NPC in 2009, the acquired company has been a Quincy distributor for more than 60 years.
Michigan Mechanical, a broad line supplier of high-quality mechanical assemblies and components, is pleased to announce the company’s new name: Michigan Manufacturing International (MMI). The new name provides a more accurate description of the company’s services and reflects its global presence.
In a strategic move to broaden its position in the utility segment, Greenlee, a Textron Inc. (NYSE: TXT) company, announced today it has acquired ownership of Sherman & Reilly, Inc., a manufacturer of underground and aerial transmission and distribution products based in Chattanooga, Tennessee.
An Iowa jury on Wednesday awarded a total of $240 million to 32 mentally disabled Iowa turkey processing plant workers for what government lawyers described as years of around-the-clock abuse and discrimination by the Texas company that oversaw their care, work and lodging.
Ford, GM, Chrysler and Nissan all reported double-digit U.S. sales increases last month, signaling the best April for car and truck sales in six years. A rebound in pickup truck sales led the way, especially for the Detroit automakers. Small businesses are replacing aging trucks that they've kept since the Great Recession.
Workers around the world united in anger during May Day rallies Wednesday — from fury in Europe over years of austerity measures that have cut wages, reduced benefits and eliminated many jobs altogether, to rage in Asia over relentlessly low pay, the rising cost of living and hideous working conditions that have left hundreds dead in recent months alone.
U.S. factory activity expanded at a slower pace in April, held back by weaker hiring and less company stockpiling. The report is the latest sign that economic growth may be slowing this spring. The Institute for Supply Management said Wednesday that its index of manufacturing activity slipped to 50.7 last month.