FAIRFIELD, Conn. (AP) — General Electric Co. Chairman and CEO Jeffrey R. Immelt's 2010 compensation more than doubled to $15.2 million as the company benefited from a recovering economy. Immelt's $3.3 million salary was unchanged from the previous year, according to an Associated Press analysis of a company filing on Monday.
OMAHA, Nebraska (AP) — Warren Buffett's Berkshire Hathaway Inc. is buying specialty chemicals company Lubrizol Corp. for about $9 billion in cash, making it among Berkshire's biggest acquisitions. The companies said Monday that the transaction also includes about $700 million in net debt. Berkshire will pay $135 per share, a 28 percent premium to Lubrizol's closing stock price Friday of $105.
HANAHAN, S.C. (AP) — A company in Hanahan plans to hire between 75 and 100 workers to provide warehouse services for the new Boeing plant. The Post and Courier of Charleston reports that New Breed Logistics will store and deliver parts from suppliers to the aircraft manufacturer. The Boeing plant is supposed to open in North Charleston this summer.
OLYMPIA, Wash. (AP) — A Microsoft backed anti-software-and-hardware piracy measure moving through the Washington state Legislature is drawing sharp opposition from other giant technology companies and a group of big-name retailers, setting up a contentious political fight among these multi-national companies that could spread to other states.
BETHESDA, Md. (AP) — The CEO of defense contractor Lockheed Martin Corp. received 2010 compensation worth $19.1 million, 7 percent less than in 2009, according to an Associated Press analysis of a regulatory filing by the company. Robert J. Stevens got a bigger annual bonus, and his stock awards grew slightly.
BEIJING (AP) — Chinese authorities have arrested 3,001 people in their latest crackdown on rampant product piracy and seized fake or counterfeit medicines, liquor, mobile phones and other goods, officials said Sunday. The campaign launched in October comes as Beijing faces pressure from the United States and other trading partners to stamp out product copying.
DES MOINES, Iowa (AP) — Angered by repeated releases of secretly filmed videos claiming to show the mistreatment of farm animals, Iowa's agriculture industry is pushing legislation that would make it illegal for animal rights activists to produce and distribute such images. Agriculture committees in the Iowa House and Senate have approved a bill that would prohibit such recordings and punish people who take agriculture jobs only to gain access to animals to record their treatment.
WASHINGTON (AP) — Despite a last-minute attempt to derail it, the government launched a public database Friday that allows people to report and search safety complaints on thousands of products — from cribs and toys to power tools and hair dryers. SaferProducts.gov, overseen by the Consumer Product Safety Commission, went live as scheduled over the objections of manufacturers and a stalled GOP effort on Capitol Hill to withhold money for the project until critics' concerns were addressed.
TOKYO (AP) — Japan ordered thousands of residents near a northeastern nuclear power plant to evacuate on Friday following a massive earthquake that caused a problem in the plant's cooling system. Chief Cabinet Secretary Yukio Edano said the Fukushima No. 1 power plant was not leaking radiation.
DETROIT (AP) — The chief financial officer who guided General Motors Co. to its first profitable year since 2004 and led its successful return to the stock market is leaving after being passed over for the top job. Chris Liddell will step down on April 1 after just 15 months at GM. He'll be replaced by Treasurer Dan Ammann, a former Wall Street banker, the company said in a surprise announcement on Thursday.
ST. LOUIS (AP) — The former chairman and CEO of St. Louis-based KV Pharmaceutical Co. was fined $1 million after pleading guilty Thursday to misdemeanor counts related to manufacturing oversized tablets of a pain-relief drug called morphine sulfate. Marc S. Hermelin, 69, also was sentenced to a month in prison after pleading guilty to two federal counts of misbranding drugs.
WASHINGTON (AP) — Could modern cars operating with the help of internal computers be vulnerable to hackers? Could someone tamper with your software-controlled brakes or stop the engine from afar? The familiar problem for personal computers is being studied in automobiles as internal computer networks become as critical to vehicles as tires and engines, and as auto companies push to bring the Internet to motorists.
TAMPA, Fla. (AP) — One person is dead and another is in the hospital after a crane collapsed at a Pepsi bottling plant in Tampa. Tampa Fire Rescue officials say the collapse happened just before 1 a.m. Friday when a lift system that was undergoing maintenance collapsed on two workers. Capt.
WASHINGTON (AP) — Federal officials said Thursday that the consumer health unit of Johnson & Johnson will be barred from resuming operations at a Pennsylvania manufacturing plant linked to millions of bottles of defective medicines until it meets quality standards. The Food and Drug Administration signed a formal consent decree with the company designed to improve operations at three manufacturing sites linked to multiple recalls of medications last year, including Children's Tylenol, Benadryl and Motrin.
Huntersville, N.C. — IRWIN® Tools , a world-class manufacturer and marketer of a broad line of professional hand tools and power tool accessories, will host the Ultimate Tradesman Challenge World Finals on Sunday, March 20, 2011 . Six competitors from around the world will use their trade skills to perform a series of precise tasks — such as gripping, sawing, marking, clamping and drilling — in a race against the clock.
WHITNEYVILLE, Maine (AP) — A wreath manufacturing company in eastern Maine is the first business in the state to sign an agreement with the federal government aimed at preventing unlawful employment of illegal immigrants. Whitney Wreath President David Whitney and the U.S. Immigration and Customs Enforcement's Bruce Foucart signed the agreement at the company's headquarters in Whitneyville.
WASHINGTON (AP) — General Motors Co. is recalling new models of the Buick LaCrosse and Cadillac SRX to fix a software glitch that could prevent the defroster from clearing the windshield. The recall affects more than 10,000 LaCrosse and SRX vehicles from the 2011 model years. GM says the software in the electronic climate control module could disable the ability to adjust and control the defroster and affect the driver's visibility.
SHANGHAI (AP) — China's voracious demand for cars eased in February, as surging gasoline prices, the end of government subsidies and a major holiday took a toll on the world's biggest auto market. The China Association of Automobile Manufacturers reported Wednesday that total sales including buses and trucks fell 33 percent in February from the month before to 1.
JACKSON, Miss. (AP) — The Japanese ambassador to the United States said Tuesday that he sees potential in energy and manufacturing for more economic partnership between Mississippi and his country. "Automobiles is a very promising area, but we are looking at various fields, electronics and nuclear powerplants as well," Ambassador Ichiro Fujisaki said at a Mississippi Museum of Art luncheon.
TOKYO (AP) — Toyota Motor Corp. is aiming for an auto industry first by reaching annual sales of 10 million vehicles by 2015 even as it acknowledges that overly rapid growth was at the root of its recall fiasco. Toyota President Akio Toyoda gave the 10 million figure Wednesday while outlining the company's "global vision" in his first major strategy announcement since the recall crisis that hit a year and a half ago.