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IMPO Insider

Daily industrial news and top headlines for plant and maintenance managers

Tyco Earnings Beat Expectations, Rise 30 Percent

November 9, 2010 3:47 am

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

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

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.

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Gulf Spill Panel: No Evidence Of Savings Over Safety

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

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

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.

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Finding Fault In Tainted Egg Cases Difficult, At Best

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

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

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

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.

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Chrysler Loses Less This Quarter, Thanks To A New Jeep

November 8, 2010 3:29 am

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

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

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

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

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.

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Panasonic To Invest $30 Million In Tesla Motors

November 5, 2010 4:46 am | by Shino Yuasa, Associated Press Writer

TOKYO (AP) — Panasonic Corp. is investing $30 million in Tesla Motors Inc., the U.S. maker of electric sports cars, eyeing expansion in the global market for green vehicles, both sides said Thursday. Panasonic, Japan's biggest electronics maker, will acquire about a 2 percent stake in Tesla, purchasing Tesla common stock at $21.

Toyota's Profit Quadruples Despite Recall Woes

November 5, 2010 4:45 am | by Yuri Kageyama, AP Business Writer

TOKYO (AP) — Toyota's second quarter profit more than quadrupled despite lingering worries about the safety of its cars after massive recalls that are still dogging its sales in the U.S. Toyota reported July-September profit of 98.7 billion yen ($1.2 billion) on Friday, up dramatically from 21.

GM Predicts Massive Profits Post-Gov't Ownership

November 5, 2010 4:44 am | by Tom Krisher, AP Auto Writer

DETROIT (AP) — General Motors has the potential to make huge pretax profits once global auto sales fully recover, the company's chief financial officer said Thursday in a video presentation that was posted online. The video with CFO Chris Liddell's comments is the foundation for GM's "road show" — presentations that start Friday and aim to court investors for an initial public stock offering.

Manufacturing Hiring, Optimism Remains Low

November 4, 2010 9:08 am

Business leaders in the manufacturing space are pessimistic, with only a third (33 percent) expecting the U.S. economy to improve in the next six months, according to Grant Thornton’s quarterly survey of U.S. business leaders. The hiring outlook for manufacturing companies is also gloomy — only 37 percent of manufacturing business leaders report that their companies will increase hiring in the next six months.

Wash. Voters Reject Private Workers' Compensation

November 3, 2010 5:04 am

SEATTLE (AP) — Washington voters have rejected an initiative that would have privatized workers' compensation insurance. With more than half of the expected vote counted in Tuesday's election, Initiative 1082 was being defeated by more than 16 points, with 58 percent of voters saying no on the ballot.

Factory Orders Grew In Sept., Breaking Streak Of Drops

November 3, 2010 4:48 am | by Daniel Wagner, AP Business Writer

WASHINGTON (AP) — Orders to U.S. factories rose broadly in September, propelled by business spending on commercial airplanes, boats and machines. The Commerce Department says that factory orders rose by 2.1 percent in September, the steepest increase since January. Orders were flat in August.

October Auto Sales To Rise Dramatically Over 2009

November 3, 2010 4:47 am

DETROIT (AP) — October auto sales are expected to rise substantially from the same month last year as once-stingy automakers loosened up on rebates and incentives, luring more customers into showrooms. Car price information service TrueCar.com predicts October sales rose 11 percent from a year ago, yet were down 3 percent compared with September.

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