Boeing Co. announced Wednesday that it will end production of its C-17 Globemaster III military cargo jet and close the final assembly plant in Long Beach in 2015, putting as many as 3,000 jobs at risk as orders plunged in the fragile world economy.
Klein Tools, a top hand tool choice of professional electricians in the United States, today announced its entry into the Australian market through a significant financial investment and strategic partnership with Mumme Tools, Australia’s leading mining tool manufacturer.
U.S. chief executives are less optimistic about the economy, according to a survey released Wednesday. The survey also indicates that disagreements over the 2014 budget and raising the debt ceiling in Washington are making them cautious about hiring.
Ecotality, which makes charging systems for electric vehicles, has filed for Chapter 11 bankruptcy protection and wants to sell its assets in an auction. Ecotality Inc. said it made the filing Monday in Arizona. The company had said in August that it might be forced into a sale or bankruptcy filing after disappointing sales and a suspension of payments from the federal government.
Volkswagen AG says its factory in Tennessee is the front-runner to build a new SUV. Marc Trahan, executive vice president of quality for Volkswagen in the U.S., said at an Automotive Press Association luncheon on Tuesday that Volkswagen will decide by the end of this year where to build the seven-passenger SUV, which the company believes it needs in the U.S. market.
The Wisconsin state Senate has voted to tighten the state's lemon law, which covers when consumers can sue auto manufacturers. The Senate passed a bill Tuesday would remove the ability to receive double damages in such cases and shorten the deadline for bringing a lawsuit from six years after purchasing a faulty vehicle to three years.
A federal appeals court sided Tuesday with Spirit AeroSystems Holdings Inc. in a labor dispute stemming from the way the Wichita-based aircraft parts maker evaluates employee performance. The 10th Circuit Court of Appeals found that the district court properly refused the union's efforts to compel arbitration over the issue.
Secretary of Labor Thomas E. Perez announced $474.5 million in grants to community colleges and universities around the country for the development and expansion of innovative training programs in partnership with local employers. The grants are part of a multiyear, nearly $2 billion initiative to expand targeted training programs for unemployed workers, especially those impacted by foreign trade.
The Energy Department says it is selling a $192 million loan made to struggling electric car maker Fisker Automotive Inc. The sale, to be held next month, is the latest setback for a half-billion-dollar loan guarantee offered to the California car maker in 2009 as part of the Obama administration's program to promote green energy.
President Barack Obama, facing a budget showdown with Congress, is pushing his economic agenda to some of the nation's top corporate executives while cautioning Republicans not to precipitate a government shutdown or an unprecedented debt default.
A South Texas vehicle assembly plant has produced its 1 millionth truck. Officials with Toyota Motor Corp. say workers at its San Antonio plant on Tuesday completed a 1794 Edition Tundra pickup truck. The vehicle's color is described as sunset bronze mica.
Germany boasts the world's most powerful woman, Europe's most powerful economy and an industrial machine that's the envy of the planet. With all that muscle, it seems natural to assume the mantle of Europe's undisputed leader. But Germany is a reluctant giant — and this Sunday's national elections are unlikely to change that.
The state of Alaska wants ConocoPhillips to reopen its mothballed Kenai Peninsula liquefied natural gas plant to provide an incentive for petroleum companies to explore and invest in Cook Inlet. In a letter to ConocoPhillips President Trond-Erik Johansen, acting Natural Resources Commissioner Joe Balash requested that the company apply for a three-year federal LNG export license for the plant at Nikiski.
Sharp cuts in U.S. military spare parts orders are hurting United Technologies Corp.'s helicopter maker, Sikorsky, the chief financial officer said Tuesday, although he was more optimistic about prospects in Europe. CFO Greg Hayes told investor analysts that automatic U.S. federal budget cuts beginning in March could take a bigger bite out of profit in 2014 than the company initially expected.
Hartzell Air Movement is pleased to announce that Neil Cordonnier has joined as Vice President of Operations. He will be focused on improvements in the operation using Six Sigma, lean techniques, and other process improvements. Prior to joining Hartzell, Neil worked as President of Ernst Metal Technologies.
Business leaders from Oracle Corp., Ford Motor Co. and The Boeing Co. said Tuesday their companies have found that it makes sense to bring jobs back to the United States — even to smaller cities in places such as Montana. Oracle President Safra Catz said her company has been centering its cloud computing division in the nearby mountain town of Bozeman.
Car sales in Europe are still sagging despite the return of modest economic growth. For the first eight months of the year, passenger car sales in the European Union were off 5.2 percent to 7.84 million compared with the same period last year, the European Auto Manufacturers' Association said Tuesday. That's the lowest January-August figure since the group started keeping track in 1990.
A robust recovery for the global economy remains well out of reach. That's the view that emerges from a survey of economists just as the Federal Reserve is expected this week to reduce its stimulus for the U.S. economy. Europe has finally emerged from recession. Japan is growing after two decades of stagnation. And the United States is trudging ahead.
U.S. health regulators have placed a ban on imported drugs from a factory operated by India's largest pharmaceutical company, Ranbaxy Laboratories, due to manufacturing and quality control problems. The import alert, issued Friday by the Food and Drug Administration, effectively stops imports of 11 drugs from Ranbaxy's Mohali factory in Punjab province.
Dozens of layoffs are still expected at the Boise Inc. plant in International Falls, despite news the company is being acquired by Packaging Corp. of America. International Falls plant spokeswoman Lori Lyman tells WDIO-TV the acquisition doesn't change the loss of 265 local Boise jobs.