News

Sara Lee Sells Bakery Unit To Mexico-Based Grupo Bimbo

November 9, 2010 3:49 am | by Michelle Chapman, AP Business Writer | Comments

NEW YORK (AP) — Sara Lee Corp. is selling its North American Fresh Bakery unit to baking company Grupo Bimbo for $959 million as it looks to concentrate more on its coffee and meat businesses. The maker of Jimmy Dean sausages and Sara Lee breads said Tuesday that the sale will allow it to aggressively expand other businesses through acquisitions and other means.

GM Tells Mr. Goodwrench To Pack Up His Toolbox

November 9, 2010 3:48 am | Comments

DETROIT (AP) — General Motors is asking Mr. Goodwrench to pack up his toolbox. The mechanic who served as the symbol of GM's dealer service brand for 37 years will be scrapped as of Feb. 1 in favor of "certified service" brands for each of GM's remaining four remaining nameplates, the company said Tuesday.

Tyco Earnings Beat Expectations, Rise 30 Percent

November 9, 2010 3:47 am | Comments

NEW YORK (AP) — Swiss manufacturer Tyco International Ltd. said Tuesday its fourth-quarter earnings jumped 30 percent on improving revenue and higher margins. The company also agreed to sell a 51 percent stake in its electrical and metal products business to private equity firm Clayton Dubilier & Rice for about $720 million.

Nation's Economic Stress Falls To 16-Month Low

November 9, 2010 3:46 am | by Martin Crutsinger and Mike Schneider, Associated Press | Comments

The nation's economic stress fell in September to a 16-month low, thanks to more hiring in New England, fewer foreclosures in the mid-Atlantic and declining bankruptcy filings in the Southeast, according to The Associated Press' monthly analysis of conditions around the country. Eighty percent of the nation's 3,141 counties enjoyed some month-over-month easing of economic pain, the AP's Economic Stress Index shows.

GE To Sink $2 Billion Into Chinese Partnerships

November 9, 2010 3:45 am | Comments

NEW YORK (AP) — General Electric Co. plans to sink more than $2 billion into its efforts in China through 2012 as the conglomerate looks to build partnerships there. GE said Tuesday that it will likely spend $500 million on research and development and new customer innovation centers, adding more than 1,000 new jobs.

Gulf Spill Panel: No Evidence Of Savings Over Safety

November 9, 2010 3:45 am | by Dina Cappiello and Seth Borenstein, Associated Press | Comments

WASHINGTON (AP) — The BP oil rig explosion and spill was not about anyone purposely trading money for safety, investigators on a special presidential commission said Monday. Instead it was more about seemingly acceptable risks adding up to disaster. Investigators at the commission's hearing outlined more than a dozen decisions that at the time seemed questionable but also explainable.

NMHG Hires 401 New Employees Across The Country

November 8, 2010 3:43 am | Comments

GREENVILLE, N.C. — NACCO Materials Handling Group, Inc. (NMHG), the makers of Yale® and Hyster® lift trucks, has announced the addition of 401 workers for the company’s Sulligent, Ala., Berea, Ky., Ramos Arizpe, Mexico, and Greenville, N.C., lift truck manufacturing facilities.

Finding Fault In Tainted Egg Cases Difficult, At Best

November 8, 2010 3:39 am | by Michael J. Crumb, Associated Press Writer | Comments

DES MOINES, Iowa (AP) — Thousands of people likely were sickened by salmonella-contaminated eggs from two Iowa companies last summer, but lawyers said far fewer have the proof needed for a successful lawsuit and most cases filed will be settled out of court. So far, attorneys in Seattle, Houston, Chicago and Minneapolis have filed at least 10 cases related to recalls by Wright County Egg and Hillandale Farms of Iowa.

China's Diesel Shortage Brings Industry To A Halt

November 8, 2010 3:33 am | by Joe McDonald, AP Business Writer | Comments

BEIJING (AP) — Aggravated Chinese truck drivers parked for hours to buy rationed diesel Monday as shortages blamed on a government conservation campaign and possible hoarding by state oil companies disrupted industry and trade. Supplies ran low after thousands of factories bought diesel generators to cope with power cuts imposed by authorities to meet energy-saving goals.

Fire Destroys 90 Percent Of Louisiana Manufacturer

November 8, 2010 3:33 am | Comments

BASTROP, La. (AP) — A fire has destroyed one of the main industries in Bastrop. The News Star reports that a fire spread through Southern Plug and Manufacturing on Friday, burning for nearly 12 hours. General Manager Bob Green says that roughly 90 percent of the facility was gone, and the blaze caused several million dollars in damage.

Chrysler Loses Less This Quarter, Thanks To A New Jeep

November 8, 2010 3:29 am | Comments

by Dee-Ann Durbin, AP Auto Writer DETROIT (AP) — Chrysler's new Jeep Grand Cherokee is a hit with drivers, bringing the automaker within sight of profitability and lifting its share of the U.S. market. Chrysler said Monday it cut its losses in half between the second and third quarters, helped by the strong-selling Jeep.

Rolls-Royce Engines To Blame For A380 Near-Crashes

November 8, 2010 3:27 am | by Kristen Gelineau, Associated Press Writer | Comments

SYDNEY (AP) — Tests have uncovered oil leaks in three Rolls-Royce engines on Qantas' grounded Airbus A380s, the airline's CEO said Monday, as engineers tried to zero in on the cause of an engine failure on board one of the carrier's superjumbo jets last week. Australia's national carrier grounded its six double-decker A380s, the world's newest and largest airliner, after an engine burst minutes into a flight from Singapore to Sydney last week, scattering debris over Indonesia's Batam island.

Job Market Gets Stronger In October, Manufacturing Slips

November 5, 2010 5:07 am | by Christopher S. Rugaber, AP Economics Writer | Comments

WASHINGTON (AP) — The economy generated a net gain in jobs for the first time in five months in October, as businesses stepped up their painfully slow pace of hiring. But the unemployment rate, measured by a separate survey of households, remained stuck at 9.6 percent for the third straight month.

Trucks Outsell Cars For First Time In Five Years

November 5, 2010 4:49 am | by Sharon Silke Carty, AP Auto Writer | Comments

DETROIT (AP) — Trucks outsold cars by the highest margin in nearly five years in October, a sign the economy may be starting to improve. These trucks aren't the tractor-trailers that haul freight. They're pickups, sport utility vehicles, minivans and smaller SUVs. The category — known as light-duty trucks — made up 54 percent of all new U.

Plant Worker Dies After Being Trapped Under Machinery

November 5, 2010 4:49 am | Comments

CUMMING, Ga. (AP) — Officials in Forsyth County say a worker at the county's water plant died after being trapped under a piece of machinery. Capt. Jason Shivers of the Forsyth County fire department says the man, whose name has not been released, worked for a subcontractor at the plant.