Health care giant Johnson & Johnson said Tuesday that its second-quarter profit fell nearly 20 percent due to restructuring, recall and litigation costs and higher spending on overhead and research. The results still topped Wall Street expectations. The maker of Band-Aids, biologic medicines and birth control pills said its net income was $2.
MILWAUKEE, Wis. (AP) — Fueled by its first U.S. sales increase in more than four years, Harley-Davidson's second-quarter profit more than doubled, easily beating Wall Street's expectations. The iconic motorcycle maker also boosted its shipment forecast for 2011 and its shares rose $1.
SANTA CLARA, Calif. (AP) — The personal computer industry needs a jumpstart — and it's counting on a rescue from emerging markets and a late-to-the-party push into tablet computers. The U.S. and European PC markets have entered a dangerous new phase: Fewer people are buying new PCs because of economic anxiety, market saturation and the rise of seductive new gadgets such as Apple's iPad.
WASHINGTON (AP) — Western states hit hardest by the housing crisis are feeling the greatest economic stress two years after the recession ended, according to The Associated Press's monthly analysis. Depressed home prices and high rates of foreclosures have limited job growth in Arizona, California and Nevada.
SAN FRANCISCO (AP) — Cisco Systems Inc., the world's largest maker of computer-networking gear, is reducing its work force by about 9 percent to reduce costs and raise profits as the company tries to become more competitive. Monday's announcement to cut 6,500 of its roughly 73,000 worldwide employees follows up on a plan disclosed in May to eliminate thousands of jobs.
DETROIT (AP) — Michigan has seen the results of what immigrants can do to help the economy through companies such as Meijer Inc., Masco Corp. and Dow Chemical Co., and should be attracting more immigrants who can repeat those successes, Gov. Rick Snyder said Monday. Speaking at a conference on immigration and Michigan's economy at Wayne State University, the governor pointed out that the Meijer retail chain was founded by a Dutch immigrant, the building products maker Masco by an Armenian immigrant and Dow by a Canadian.
BDI (Bearing Distributors Inc.), headquartered in Cleveland, OH, announces the opening of a new branch in Los Angeles. BDI Branch #80 is located at 14263 Proctor Ave., Unit F, La Puente, CA 91746. Tel: 626/709-4995; Fax: 626/333-4207. The newly opened office is overseen by Gabe Duchene, a five-year BDI veteran who has relocated to Los Angeles from the company’s Cleveland headquarters.
BISMARCK, N.D. (AP) — A Job Service analysis shows that North Dakota ended the decade with more than 430,000 workers. That's up more than 61,000 since the year 2000 and an increase equal to the population of Bismarck, the state's second-biggest city. Job Service says about 15,000 jobs remain unfilled in the state that's enjoying a robust economy led by its booming oil patch and healthy agriculture markets.
ROMULUS, Mich. (AP) — A Detroit-area company that makes batteries for electric vehicles is celebrating its latest milestone with some high-profile people. U.S. Energy Secretary Steven Chu and some Michigan members of Congress have been invited to A123 Systems in Romulus on Monday.
CORDOVA, Md. (AP) — Allen Family Foods will lay off 28 employees at its processing plant in Cordova, Md., according to an official from Maryland's Talbot County. Paige Bethke, director of economic development for Talbot County, says the layoffs Friday were related to market conditions and not to the company's ongoing bankruptcy reorganization.
NEW YORK (AP) — Taiwanese smartphone maker HTC Corp. said it believes it has a strong case for an appeal of a U.S. International Trade Commission ruling that HTC violated two Apple Inc. patents. HTC said it does not yet have the full ruling and analysis to determine the details of the findings, but General Counsel Grace Lei said, "We are highly confident we have a strong case for the ITC appeals process and are fully prepared to defend ourselves using all means possible," in a release dated Saturday.
SALINA, Kan. (AP) — Companies that provide ignition-locking devices for vehicles are preparing for a surge in business after a new state law requiring more drivers to use them went into effect on July 1. The demand for ignition interlock systems began even before Kansas enacted the law that requires more people to install the devices after being convicted of drunken driving, The Salina Journal reported Monday.
FLINT, Mich. (AP) — General Motors plans to spend $328 million to update a factory in Flint, Mich., to build the next generation of full-size pickup trucks. The investment will pay for equipment to build the new Chevrolet Silverado and GMC Sierra pickup trucks, which are due in showrooms early in 2013.
SAN ANTONIO (AP) — Federal investigators are looking into a warehouse accident in which a worker was killed when she was pinned under a 1,500-pound crate. The San Antonio Express-News reported Friday that investigators from the Occupational Safety and Health Administration were dispatched to Con-Way Freight after 49-year-old Marissa Garcia was killed.
NEWTON, Kan. (AP) — A Colorado company that has developed a new kind of wind energy turbine will build its first manufacturing plant in south-central Kansas. Executives of New Millennium Wind Energy joined Gov. Sam Brownback and other officials in the city of Newton on Friday to announce the development.
AMANA, Iowa (AP) — Whirlpool Corp. is laying off 350 workers from its refrigerator plant in Iowa. Kristine Vernier, spokeswoman for the Benton Harbor, Mich.-based company, told KGAN-TV that 300 permanent workers and 50 summer workers are losing their jobs. Workers were told of the layoffs on Friday.
MERCED, Calif. (AP) — The Central California city of Merced will pay a $1.5 million settlement after a federal jury found that thousands of residents of a subdivision were potentially exposed to a cancer-causing chemical, a newspaper reported Friday. In March, the jury found that hazardous levels of hexavalent chromium had leaked from a manufacturing plant in Merced's Beachwood subdivision and spread into the air and water.
MARIETTA, Pa. (AP) — A central Pennsylvania ceilings plant has locked out its 260 unionized employees, saying they failed to vote on the latest contract proposal by the company's deadline. Armstrong World Industries spokeswoman Jennifer Johnson told the (Lancaster) Intelligencer Journal/Lancaster New Era that Sunday's decision regarding workers at the Marietta plant was taken "very reluctantly.
NEW YORK (AP) — Economists increasingly see hiring picking up through the rest of 2011, even as they predict slower overall growth. The National Association for Business Economists quarterly survey found 43 percent of respondents say their firms will likely increase employment in the next six months, the highest number in a year.
Geert Follens, President of Atlas Copco Portable Energy, and Luis San Gil, former President of Gesan. Stockholm, Sweden: Atlas Copco SAE has acquired Grupo Electrógenos GESAN S.A. of Spain, a manufacturer of diesel and petrol generators sold through a global distributor network.