Companies are increasingly confident the economy will grow at a modest pace over the next year and are hiring more, according to a survey of business economists. Nearly one-third of the economists surveyed by the National Association for Business Economics said their companies added jobs in the April-June quarter, according to a report released Monday.
Detroit city leaders defend the decision to file for bankruptcy, saying there is no funding mechanism for its crushing debt. One big question remains: Whether or not the city will ask Washington for help once again. CBS News' Terrell Brown reports.
Four years ago, America's Big Three automakers mortgaged all they owned or went into bankruptcy court to keep from going broke. Since then, General Motors, Chrysler and Ford have all returned to full financial health, unlike Detroit itself, which filed for bankruptcy Thursday after years of painful decline.
Federal authorities are questioning working conditions at a Georgia auto parts plant for the eighth time in four years, this time in connection with a worker's death. The Occupational Safety and Health Administration launched an inquiry of Sewon American in LaGrange after someone submitted a complaint of excessive heat same the same day Teresa Pickard died, The Atlanta Journal-Constitution reports.
TIC required more capacity to produce medium voltage adjustable speed drives to meet increasing demand, as well as keep up with the growth of our other product lines including low voltage drives, motors starters, and rail transit products.
The “Tech Belt“ region of the U.S. has undergone explosive growth in the years since the Great Recession. Some of the hardest-hit cities have seen manufacturing’s return with very positive upward trends. Among the region’s largest success stories is winning the nationwide bidding contest for the NAMII, a public-private collaboration to develop next-gen manufacturing processes based around additive manufacturing.
Cronus Chemicals wants to build a $1.2B plant on a cornfield that would manufacture nitrogen-based fertilizer, a staple of the corn and soybean farms that fill the landscape around Tuscola, a community of 4,500 people about 160 miles south of Chicago. Similar projects are being proposed across the nation, driven by booming demand for corn and newly abundant supplies of natural gas.
The Senate was poised Thursday to approve President Barack Obama's choice to head the Labor Department after lawmakers, by the thinnest of margins, voted to remove obstacles blocking the confirmation while honoring a bipartisan pact for approving top nominations.
The number of Americans applying for unemployment benefits fell 24,000 last week to a seasonally adjusted 334,000, a sign that steady job gains should continue. The drop left unemployment benefit applications at the lowest level in 10 weeks, the Labor Department said Thursday. Some of the decline may have been caused by seasonal factors.
Vermont Gov. Peter Shumlin is urging IBM Corp. to make public the number of employees it laid off last month at its Vermont facilities. And the governor says if he and his lawyer conclude the Vermont Public Records Act requires it, his administration will release the number whether IBM wants to or not.
Construction on a $700 million expansion at Valero Refinery's St. Charles Parish plant is expected to begin sometime in late 2015 or early 2016. The plant occupies roughly 1,000 acres along the Mississippi River in Norco. The expansion will include construction of a large methanol unit, designed to compress natural gas into liquid in order to manufacture chemicals and plastics.
An Illinois-based food service and food packaging manufacturer says it's expanding its facilities in North Carolina's Lenoir and Iredell counties, with additional plans to create 77 jobs. North Carolina Gov. Pat McCrory's office announced Tuesday that Pactiv LLC will invest more than $9 million in its facilities in Kinston and Mooresville.
Jobs growth remains weak among the world's 20 biggest economies, where almost a third of the 93 million unemployed have been out of work for more than a year, top labor and development officials reported Wednesday. In a batch of new figures intended to push G-20 governments into action, the U.N.'s International Labor Organization and the Organization for Economic Cooperation and Development warned the rate of employment growth remains low.
Delta Faucet Co. plans to increase production at a southeastern Indiana factory and add up to 160 workers in the coming year. Company officials say it will spend about $12 million to renovate and equip its factory in Greensburg. Delta now makes kitchen and bathroom faucets, shower heads, toilets and other accessories.
Honeywell International Inc. has announced plans for $208 million in expansion projects at its Louisiana production sites in Baton Rouge, Shreveport and Geismar. Gov. Bobby Jindal announced the plans Monday with Honeywell Performance Materials and Technologies CEO Andreas Kramvis. The expansion projects are estimated to create 42 new jobs at the sites, with an average salary of $68,300.
About 575 U.S. salaried workers are retiring as part of Pratt & Whitney's voluntary separation program, the jet engine manufacturer said Monday. Most of the employees left the company on Monday and more departures will be necessary as the subsidiary of United Technologies Corp. grapples with the winding down of military operations in Afghanistan and what a spokesman called uncertainty in the commercial jet engine spare parts business.
Unemployment levels in the world's advanced economies could improve next year, even though the number of people without work will likely continue to rise in several European countries, a leading international economic body said Tuesday.
About 200 people are losing their jobs with the closure of a global manufacturer's Orangeburg plant. Officials with Federal-Mogul said Monday the company is consolidating its Orangeburg operations to larger facilities in Tennessee and Mexico.
Plans are in the works to expand an auto supplier plant in New Hampshire. Freudenberg-NOK is planning the $3 million expansion in Northfield that is expected to add at least 15 jobs to the 115 currently employed. The Concord Monitor reports Business Finance Authority president Jack Donovan says construction is expected to take six months.
Robots and computers are already replacing workers in factories and offices. Now engineers are developing intelligent machines to do farm work and help ease a worsening labor shortage on American farms. See the engineers test the Lettuce Bot, a machine that can "thin" a field of lettuce in the time it takes about 20 workers to do the job by hand.
The United States needs more startup companies and innovation to compete with the rest of the world, General Electric Co. chairman and CEO Jeff Immelt told the University of Wisconsin Board of Regents on Friday. Immelt said the U.S. needs more risk capital to help fuel startups, less government regulation, a greater emphasis on research and development and more cooperation with higher education.
Mercury Marine has begun a $20 million expansion of two of its Fond du Lac plants, saying there has been greater demand for its outboard engines amid the slow rebound of the boating industry following some tough years. The company has begun constructing the expansions, which will add a total of 38,000 square feet of manufacturing space to the 1.5 million it already has in the city.
Colgate-Palmolive has announced plans to close its Morristown plant. The New York-based consumer products company says that it will lay off 350 employees and move more than 200 nonmanufacturing workers to its Piscataway technology center.
With signs the high-end smartphone market in the developed world is at a near-term saturation point, Taiwanese chipmakers like TSMC may find once-assured profits are more fleeting than expected. The promised explosion of next-gen mobile devices may not create the windfall these chipmakers were expecting.
Disposable flatware maker Trellis Earth Products is moving its manufacturing operations from China to upstate New York, where it will create 189 jobs. Trellis, with headquarters in Portland, Ore., plans to break ground on an $8 million, 80,000-square-foot facility in the Rochester Technology Park by the end of the summer.