News

Dana Holding To Pay Toyota $25 Million For Faulty Frames

January 12, 2011 3:28 am | Comments

MAUMEE, Ohio (AP) — Dana Holding Corp. said Wednesday it will pay $25 million as part of a settlement with a subsidiary of the automaker Toyota Motor Corp. for warranty claims related to frames produced by Dana's former structural products business. Dana plans to take a fourth-quarter charge as a result.

Solar Maker Gets $58 Million From Mass., Shutters Plant

January 12, 2011 3:25 am | by Steve LeBlanc, Associated Press Writer | Comments

BOSTON (AP) — A solar panel manufacturer that benefited from $58 million in state aid to open a factory at a former Massachusetts military base is closing the plant and laying off 800 workers. Evergreen Solar Inc. announced Tuesday it is shutting down the Devens plant by the end of the 2011 first quarter.

Detroit's Automakers Are All Smiles After Dismal Past

January 12, 2011 3:22 am | by Dee-Ann Durbin and Jeff Karoub, Associated Press Writers | Comments

DETROIT (AP) — The sunny yellow Ford C-Max minivan that greets visitors at this year's Detroit auto show says it all. After taking a pounding during the recession, the U.S. auto industry is full of optimism, and a strong mix of new products will greet buyers as they return to dealerships. "Looking around at what's at the show, we've never been happier," said Mike Jackson, the CEO of AutoNation Inc.

November Tech Consumption Up 81 Percent Over 2009

January 11, 2011 5:24 am | Comments

Peter Borden, AMTDA President November U.S. manufacturing technology consumption totaled $318.18 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 17.

Intel Ponies Up $1.5 Billion For Nvidia's Patent Goldmine

January 11, 2011 3:43 am | by Jordan Robertson, AP Technology Writer | Comments

SAN FRANCISCO (AP) — Intel Corp.'s decision to pay Nvidia Corp. $1.5 billion for the right to its patents highlights the seismic shifts the semiconductor industry is undergoing. The licensing deal announced Monday comes as both companies are adapting to the new rules of the consumer electronics world, as mobile devices are changing the way chips are made.

Ford To Hire 7,000 U.S. Workers By 2012

January 11, 2011 3:36 am | by Dee-Ann Durbin, AP Auto Writer | Comments

DETROIT (AP) — Ford Motor Co. says it will add more than 7,000 workers in the U.S. over the next two years, including 750 engineers with expertise in batteries and other advanced technology, as it begins producing several new vehicles. The company plans to hire 4,000 manufacturing workers this year.

Detroit Auto Show, Day 2: Toyota's Aging Lineup

January 11, 2011 3:31 am | by Sharon Silke Carty, AP Auto Writer | Comments

Toyota's biggest problem: Aging lineup DETROIT (AP) — It would be easy to think Toyota's biggest problem is its damaged reputation caused by sudden acceleration recalls, millions in government fines and massive lawsuits and settlements. But what's hurting the company most is an aging lineup of boring cars.

AMD's CEO Fired Unexpectedly After Staging Comeback

January 11, 2011 3:28 am | by Jordan Robertson, AP Technology Writer | Comments

SAN FRANCISCO (AP) — Advanced Micro Devices Inc. forced out its CEO Dirk Meyer in a surprise twist of fate for a technologist who inherited the chip maker when it was in tatters and won fans on Wall Street for steering it through a wrenching turnaround. AMD is a heavyweight in the computer industry as the world's No.

Chrysler Wants To Refinance Loans Ahead Of IPO

January 11, 2011 3:25 am | by Tom Krisher, AP Auto Writer | Comments

DETROIT (AP) — Chrysler will try to refinance its government loans this year as it prepares for an initial public stock offering, and the reduced expense could let the company post a net profit for the first time since it left bankruptcy protection in 2009, CEO Sergio Marchionne said Monday. Marchionne told reporters Monday at the Detroit auto show that the automaker, which lost $453 million in the first three quarters of last year, will need to post two quarterly net profits before it returns to the stock market as a publicly traded company.

Lawmakers Praise Detroit's Recovery From Bankruptcy

January 11, 2011 3:23 am | by Ken Thomas, Associated Press | Comments

DETROIT (AP) — Touring the Detroit auto show Monday, House Democrats praised the U.S. auto industry for rebounding from the depths of bankruptcy and despair and credited an unpopular bailout of General Motors and Chrysler. Getting behind the wheels of shiny new cars, lawmakers who helped GM and Chrysler secure billions of dollars in federal aid said the companies were on the comeback after government-led bankruptcies in late 2008 and 2009.

U.S. Sets Up First Foreign Safety Commission In China

January 10, 2011 3:57 am | by Alexa Olesen, Associated Press | Comments

BEIJING (AP) — The U.S. Consumer Product Safety Commission will set up its first office outside the United States in China in a bid to reduce the amount of dangerous products reaching the American market. Commission head Inez Tenenbaum told reporters Monday the "history-making" office also aims to make it easier for the U.

Spirit Aerosystems Ready To Hire 200 Workers

January 10, 2011 3:45 am | Comments

WICHITA, Kan. (AP) — Aircraft parts maker Spirit AeroSystems is planning to hire workers for several locations this year. The Wichita Eagle reported that the hiring is expected to occur in the first quarter because production on new and existing programs is increasing. Spokesman Ken Evans said Friday that the near-term plans call for hiring about 200 workers for Wichita and Tulsa, Okla.

Official Suspended After Factory Sickens Hundreds Of Children

January 10, 2011 3:40 am | Comments

BEIJING (AP) — An environmental official in eastern China was suspended after a battery factory sickened more than 200 children with lead poisoning, authorities said Sunday. China is the world's largest producer and consumer of lead, a key component in lead-acid batteries needed for the growing number of vehicles in the country.

Detroit Auto Show, Day 1: VW Returns Manufacturing To U.S.

January 10, 2011 3:37 am | by Ken Thomas, Associated Press | Comments

Volkswagen to keep Passat name on new midsize DETROIT (AP) — Volkswagen is keeping the Passat name for a new midsize vehicle that will be built at the company's new U.S. plant in Tennessee. Volkswagen of America Inc. announced plans Sunday to maintain the Passat nameplate at an event before media previews of the North American International Auto Show.

Chevrolet Volt Named 'Car Of The Year'

January 10, 2011 3:34 am | by Jeff Karoub, AP Business Writer | Comments

DETROIT (AP) — The 2011 Chevrolet Volt got another marketing jolt Monday, when it received the North American Car of the Year. The car that runs on electricity for 40 miles before a backup gas engine kicks in beat out the Nissan Leaf, another electric, and Hyundai Sonata in the annual ceremony on the first day of media previews for the Detroit auto show.