Advertisement
News
Subscribe to IMPO Magazine News
View Sample

FREE Email Newsletter

IMPO Insider

Daily industrial news and top headlines for plant and maintenance managers

GM To Sell Shares Of Failed Former Financial Arm For $1B

March 23, 2011 4:24 am

DETROIT (AP) — General Motors Co. said Tuesday it will sell all of its series A preferred shares in Ally Financial Inc., its former finance arm which was bailed out by the federal government, for $1 billion. The shares to be sold represent all of Ally's series A preferred stock outstanding, the automaker said.

Economic Toll From Japan Disaster Could Exceed $300B

March 23, 2011 4:18 am

TOKYO (AP) — The government expects the economic toll from Japan's earthquake and tsunami could exceed $300 billion, considerably higher than other estimates, a report said Wednesday, Economy Minister Kaoru Yosano will present the estimate of 15 trillion yen to 25 trillion yen ($185 billion to $300 billion) at a Cabinet meeting on Wednesday, the newspaper Nihon Keizai Shimbun said.

TOPICS:

Dow Climbs Above 12,000 On Major Business Dealings

March 21, 2011 10:47 am | by Stan Choe, AP Business Writer

NEW YORK (AP) — Stocks climbed Monday on the strength of a major telecommunications deal and signs that that Japan's nuclear crisis was stabilizing. AT&T Inc. said it would buy rival T-Mobile USA for $39 billion, creating the largest U.S. cellphone company. Charles Schwab Corp. said it would buy online brokerage services provider OptionsXpress for $1 billion.

TOPICS:
Advertisement

GM Lays Off U.S. Workers Due To Earthquake

March 21, 2011 10:06 am | by Dee-Ann Durbin, AP Auto Writer

DETROIT (AP) — General Motors Co. on Monday is halting some production and temporarily laying off workers at a Buffalo engine plant, another sign that Japan's disaster is affecting automakers around the globe. GM's Tonawanda plant in Buffalo, New York, makes four- and five-cylinder engines for the Chevrolet Colorado and GMC Canyon compact pickups, which are assembled at a GM plant in Shreveport, Louisiana.

TOPICS:

Protecting The Robots That Protect Soldiers

March 21, 2011 8:47 am | by Abbott Koloff, Associated Press

ROCKAWAY TOWNSHIP, N.J. (AP) — Because bomb-disarming robots cost about $140,000 apiece, Bernard Reger's superiors asked him to design a virtual training system that does not require using robots that might get blown up during an exercise or fall off a cliff. The Army already marketed a computer war game, America's Army, as part of a recruiting campaign.

Organic Grease Clogs City's Sewer Systems

March 21, 2011 8:07 am

CAMBRIDGE CITY, Ind. (AP) — Officials blame grease that an organic food company is releasing into the sewer system for ruining equipment at an eastern Indiana town's treatment plant. The Western Wayne Sewer District Board says the material from Really Cool Foods has been clogging pumps and damaging sewage equipment at the Cambridge City facility.

TOPICS:

New Standards Make Firefighting Choppers Very Expensive

March 21, 2011 7:55 am | by Kate Ramsayer, Associated Press

BEND, Ore. (AP) — New U.S. Forest Service standards for some firefighting helicopters could require contractors to spend as much as $50,000 per helicopter to upgrade the aircraft. Some in the helicopter industry say the high cost of upgrades could reduce the number of helicopters in the "call-when-needed" pool come fire season.

Decimated Sake Brewer Vows To Rebuild, Re-Brew

March 21, 2011 7:53 am | by Jay Alabaster, Associated Press

RIKUZENTAKATA, Japan (AP) — Yasuhiko Konno stands next to a pile of debris that reaches over two stories high. He bows his head for a moment and takes a deep breath. This was his sake brewery, one of the best in Japan, with a history that goes back hundreds of years. A week after he barely escaped a tsunami that flattened it and nearly everything else in sight, he's come back for the first time, and it takes him a second to collect his thoughts.

TOPICS:
Advertisement

Zippo Lights Fire Under New Businesses As Less Smoke

March 21, 2011 5:07 am | by Joe Mandak, Associated Press

BRADFORD, Pa. (AP) — Zippo lighters have retained their retro cool even as the tiny northwestern Pennsylvania company that makes them gets ready to celebrate its 80th anniversary and 500 millionth lighter next year. But with pressure increasing on folks not to smoke, Zippo Manufacturing Co.

Boeing Completes Flight Of Biggest-Ever Passenger Jet

March 21, 2011 4:54 am

EVERETT, Wash. (AP) — The Boeing Co.'s newest and largest passenger plane completed its first flight on Sunday, marking another milestone as the company prepares to get the long-haul jumbo jet ready for the market by the end of the year. The 4½ hour-flight, which began in Everett and landed in Seattle, was the first in a months-long test program that will log more than 600 flight hours between now and the fall.

DOJ: Samsung To Pay $32M For Price Fixing

March 21, 2011 4:48 am

WASHINGTON (AP) — The U.S. Justice Department said Friday that Samsung SDI Co. has agreed to plead guilty in a price-fixing conspiracy and pay a $32 million fine. The Justice Department said Samsung SDI, part of South Korea's Samsung Electronics Co., conspired to fix prices, reduce output and allocate market shares of color display tubes, a type of cathode ray tube used in computer monitors and other devices.

Nissan To Resume Japanese Manufacturing Next Week

March 21, 2011 4:45 am | by Tom Murphy, AP Business Writer

Nissan Motor Co. plans to resume auto and parts production at more Japanese factories next week, but it may be several months before inventories and other elements of the country's auto industry return to normal. Nissan said it will resume production of parts at five plants Monday. It then plans to resume vehicle production Thursday as long as supplies last.

TOPICS:

GM Cutting Unnecessary Spending After Japan Disaster

March 21, 2011 4:42 am | by Janna Herron, AP Business Writer

NEW YORK (AP) — GM said Saturday it is cutting unnecessary spending companywide as it assesses the impact of production disruptions from the earthquake and tsunami in Japan. The move will help the automaker preserve cash as it deals with the financial implications from shortages of parts made in Japan, a company spokesman said.

TOPICS:

3M Settles Age-Discrimination Lawsuit For $12 Million

March 21, 2011 4:40 am

ST. PAUL, Minn. (AP) — 3M Co. has agreed to pay up to $12 million to settle an age-discrimination lawsuit with as many as 7,000 current and former employees. The 2004 lawsuit targeted the company's performance-review system, alleging that older workers were disproportionately downgraded. It also accused the company of favoring younger employees for certain training opportunities that could fast-track them for promotions.

Factory Production Signals Increased Hiring Soon

March 18, 2011 4:47 am

WASHINGTON (AP) — Factories are producing more cars, computers and household appliances, and applications for unemployment benefits over the past four weeks are at the lowest point since summer 2008. Economic data released Thursday suggest that March will be the second straight month of strong job growth.

GM Forced To Halt Production At Shreveport Plant

March 18, 2011 4:41 am

DETROIT (AP) — A shortage of parts from Japan will force General Motors Co. to halt production at its pickupplant in Shreveport, La., next week, the company said Thursday. It's the first time a U.S.-based automaker will stop production in North America over parts shortages caused by the earthquake and tsunami in Japan.

TOPICS:

Why Inflation Hurts More Now Than 30 Years Ago

March 18, 2011 4:38 am

WASHINGTON (AP) — Inflation spooked the nation in the early 1980s. It surged and kept rising until it topped 13 percent. These days, inflation is much lower. Yet to many Americans, it feels worse now. And for a good reason: Their income has been even flatter than inflation. Back in the '80's, the money people made typically more than made up for high inflation.

Alabama Firm Buys Weapon Manufacturer Under Investigation

March 18, 2011 4:37 am

NASHVILLE, Tenn. (AP) — An Alabama company has bought the assets of a Nashville weapons manufacturerwhose former owner and operators face federal charges of illegally exporting weapon parts overseas. Manroy USA, headquartered in Scottsboro, Ala., finalized the $4.95 million sale this week in a federal bankruptcy court auction for Sabre Defence Industries, LLC, which has current contracts with the military to provide parts for the .

China Suspends Three, Punishes Dozens Over Tainted Pork

March 18, 2011 4:30 am | by Gillian Wong, Associated Press

BEIJING (AP) — Three senior officials in central China have been suspended and more than two dozen others punished after pigs in farms there tested positive for a banned chemical that can be dangerous to humans, state media said Friday. Tainted pork has become the latest food safety scandal to shock China after state broadcaster CCTV ran an expose earlier this week showing that several farms in Henan province were using the fat-burning drug, clenbuterol, in pig feed.

Auto Critic Quits After Calling Chrysler 200 A 'Dog'

March 18, 2011 4:28 am

DETROIT (AP) — The Detroit News' auto critic said Thursday that he resigned because editors demanded that he delete sections of a scathing review of the Chrysler 200, a car promoted in a popular Super Bowl television ad starring rapper Eminem. Scott Burgess' original review made it into the newspaper's March 10 print edition.

Pages

X
You may login with either your assigned username or your e-mail address.
The password field is case sensitive.
Loading