Plant Management

Closing The Skills Gap In Manufacturing

April 3, 2013 12:22 pm | by McGladreyNews | Videos | Comments

Warren Young, chief executive officer of Acme Industries, and Jim Nelson, vice president of the Illinois Manufacturers Association, discuss the outlook for the manufacturing workforce as well as programs designed to close the workforce skills gap. In this series, subject matter specialists discuss best practices of thriving and growing companies identified in the McGladrey Manufacturing & Distribution Monitor Report.

Board Asks RIM Founder To Stay As CEO

March 29, 2013 2:07 pm | by Rob Gillies, Associated Press | News | Comments

Research In Motion Ltd. co-founder Mike Lazaridis said Thursday as he prepared to leave the company for good that the board had asked him to reconsider his decision to step down as co-CEO. Lazaridis and Jim Balsillie stepped down in January 2012 after several quarters of disappointing results.

Judge OKs Reduced Bond For Ex-Mamtek CEO

March 25, 2013 10:07 am | by Jordan Shapiro, Associated Press | News | Comments

Bruce Cole, 65, the former chief executive of Mamtek U.S. Inc., has been accused of perpetrating a massive fraud by persuading Moberly to issue $39 million in bonds and the state to authorize up to $17 million of incentives to fund an artificial sweetener facility that collapsed financially before construction finished.

Dell Board To Deal With Icahn, Blackstone

March 25, 2013 10:04 am | by Tom Murphy, AP Business Writer | News | Comments

Michael Dell may have to hike the price he's willing to pay if he wants to take the computer company he founded private, thanks to competition from two new acquisition offers. A special committee of independent Dell Inc. directors said it will negotiate with buyout specialist Blackstone and activist investor Carl Icahn over bids that rival an offer of more than $24B.

Boeing Tech Workers Taking Re-Vote On Contract

March 18, 2013 4:25 pm | by The Associated Press | News | Comments

The union for 7,400 Boeing technical workers counts ballots Monday night in the re-vote on a contract that would replace pensions with a 401(k) retirement plan. The technical unit split with engineers represented by the Society of Professional Engineering Employees in Aerospace in the Feb. 19 vote. The 15,500 engineers approved a new four-year contract.

Ford CEO's Pay Falls To $20.95M In 2012

March 15, 2013 1:59 pm | by Dee-Ann Durbin, AP Auto Writer | News | Comments

Ford Motor Co. CEO Alan Mulally's compensation fell 29 percent to $20.95 million in 2012 as the company's board weighed record North American profits and quality improvements against heavy losses in Europe and lower market share in the U.S. and elsewhere. Ford reported Mulally's compensation Friday in its annual proxy filing with the federal government.

Volkswagen CEO Stresses Cautious Outlook

March 14, 2013 1:54 pm | by The Associated Press | News | Comments

Volkswagen's chief executive Martin Winterkorn said Thursday the company faces a challenging year particularly in Europe where many countries are in recession. Winterkorn told the company's annual news and analyst conference that "Volkswagen is feeling the headwinds — especially in Europe."

Co-Founder Leaves Fisker After Management Dispute

March 13, 2013 2:11 pm | by The Associated Press | News | Comments

A co-founder of the Fisker electric car company is stepping down because of a dispute with the company's management. Executive Chairman Henrik Fisker told the trade publication Automotive News in a statement that he left after several major disagreements on business strategy. The statement didn't give details.

Government Sells Another Chunk Of GM Stock

March 12, 2013 10:24 am | by The Associated Press | News | Comments

The U.S. government has sold another chunk of its stake in General Motors Co. The Treasury Department says in its February report to Congress that it sold $489.9 million worth of GM common stock last month. The report dated Monday says the government has recovered about $29.8 billion of its $49.5 billion bailout of the Detroit automaker. That means taxpayers are still $19.7 billion in the hole.

GE Boosted CEO Immelt's Compensation In 2012

March 12, 2013 10:19 am | by The Associated Press | News | Comments

General Electric says its Chairman and CEO Jeffrey Immelt received compensation for 2012 that was 80 percent more than his pay in 2011. The company, which makes products ranging from light bulbs to jet engines, gave Immelt a pay package valued at nearly $20.6 million, according to an Associated Press analysis of regulatory documents filed Monday.

Renault CEO: Let Shareholders Vote On Exec Pay

March 6, 2013 9:22 am | by The Associated Press | News | Comments

Just days after Swiss voters struck a blow against corporate greed, Renault's CEO Carlos Ghosn gave his support to the idea of giving shareholders more power over pay packages. The global financial crisis has fueled anger at corporate "Fat Cats," especially as some company earnings — and bosses' pay — are bouncing back before the rest of the economy catches up.

Heinz CEO Entitled To $56M Golden Parachute

March 5, 2013 10:01 am | by Candice Choi, AP Food Industry Writer | News | Comments

Heinz CEO William Johnson is entitled to a golden parachute worth $56 million if he's fired by the company's new owners. The deal lets him walk away with $40 million at any time if he chooses. He would get another $16 million if the new owners were to let him go.

Officials Debate High Pay At Bailed-Out Firms

February 26, 2013 2:15 pm | by Christina Rexrode, AP Business Writer | News | Comments

Government officials argued Tuesday over whether pay is still too high for top executives at bailed-out companies like AIG, General Motors and Ally Financial. In a hearing before the House's oversight committee, Christy Romero, who runs the group meant to be a watchdog over the government's financial crisis-era bailout, argued that pay is too high.

Survey: Small Business Owners Still Pessimistic

February 12, 2013 2:32 pm | by The Associated Press | News | Comments

Small business owners have started 2013 with low expectations for the economy and their companies. That's the finding of a survey released Tuesday by the National Federation of Independent Business. The lobbying group's Small Business Optimism Index rose 0.9 points to 88.9 in January.

Mercedes-Benz Names New CEO For AL Plant

February 5, 2013 1:41 pm | by The Tuscaloosa News | News | Comments

Markus Schaefer, the Mercedes-Benz executive who developed a plan to move Mercedes sedan production to Tuscaloosa County and then was named president and CEO of Vance plant, has been promoted to head of production planning for all Mercedes-Benz passenger cars. Schaefer will return to Germany and work out of the company's headquarters in Stuttgart, effective July 1.

Owners Of Bangladesh Factory Where 7 Died Arrested

February 1, 2013 10:29 am | by Julhas Alam, Associated Press | News | Comments

Two owners of a Bangladesh garment factory where seven workers were killed in a weekend fire were arrested Thursday as police investigated allegations of murder and negligence. Police were questioning Smart Export Garment Ltd. Chairman Sharif Ahmed and Managing Director Zakir Ahmed after a court placed them on a two-day remand.

A New Industrial Revolution

January 31, 2013 3:08 pm | by Rachel Leisemann Immel, Associate Editor, IMPO | Articles | Comments

Pennsylvania is a growing energy leader in the United States, becoming a net exporter of natural gas in 2011. They have seized opportunities the Marcellus Shale boom has provided, and expanded into global leaders in natural gas—and are making the region known for its industrial innovation and talent, truly fueling a new industrial revolution.

Report: Gov't Allowed High Pay At Bailed-Out Firms

January 29, 2013 10:20 am | by Marcy Gordon, AP Business Writer | News | Comments

A government report criticized the U.S. Treasury Department for approving "excessive" salaries and raises at firms that received taxpayer-funded bailouts during the financial crisis. The Special Inspector General for the Troubled Asset Relief Program said Treasury approved all 18 requests it received last year to raise pay for executives at American International Group, General Motors and Ally Financial.

Italy Steel Exec Arrested In UK Over ILVA Plant

January 23, 2013 10:26 am | by Nicole Winfield, Associated Press | News | Comments

An Italian steel executive turned himself into British authorities on Tuesday after being placed under investigation in Italy over environmental and health problems at Europe's largest steel mill — a case that has become a major headache for the government given the 20,000 jobs at risk if the plant closes.

CAT Takes Charge For China Mismanagement

January 21, 2013 10:12 am | by The Associated Press | News | Comments

Caterpillar Inc. said Friday that it found deliberate "accounting misconduct" at a recently acquired company in China. The U.S. based construction and mining equipment company has removed several managers at the company and will take a non-cash $580 million charge in the fourth quarter tied to the misconduct.

Hostess Union Hires Investment Bank

January 21, 2013 10:08 am | by The Associated Press | News | Comments

The pension fund for one of Hostess Brands' unions has hired an investment bank to represent workers and pensioners as the maker of Twinkies and Wonder Bread sells off its brands. In a statement posted Sunday on its website, the Bakery, Confectionery, Tobacco Workers and Grain Millers International Union, which represents around 6,000 Hostess bakers, said Gordian Group LLC will represent the fund.

GM CEO Sees U.S. Sales Gains This Year

January 10, 2013 1:44 pm | by Tom Krisher, AP Auto Writer | News | Comments

General Motors' CEO said Wednesday that he expects the company to steal sales from rivals in the U.S. this year as its new cars and trucks gain traction with customers. Dan Akerson told reporters that he sees a modest gain in U.S. market share, helped by the rollout of the Chevrolet Silverado and GMC Sierra pickups and two Cadillac sedans. He also expects the company to do well globally during the next two years.

CEO: GM Aims For Investment-Grade Status This Year

January 9, 2013 2:08 pm | by Tom Krisher, AP Auto Writer | News | Comments

General Motors CEO Dan Akerson said Wednesday he hopes the company regains investment-grade credit status this year. He told reporters that the company is working with credit rating agencies to raise its status from junk, where it's been since 2005. Akerson said the company's recent $11 billion credit line received investment grade rating, showing that banks are ahead of the ratings agencies.

Chevy Adopts New Global Ad Campaign

January 9, 2013 10:16 am | by The Associated Press | News | Comments

Chevrolet is dropping its "Chevy Runs Deep" slogan and replacing it with the new tagline "Find New Roads," saying that it's better geared toward drivers outside the U.S. The General Motors Co. brand pointed to its significant overseas expansion over the past several years, noting that it's developing products for sale in more than 140 markets around the world.

Report: China Fund In Talks To Buy Daimler Stake

January 7, 2013 2:17 pm | by The Associated Press | News | Comments

China's sovereign wealth fund is in talks about possibly buying a stake in German luxury automaker Daimler AG, the country's main Communist Party newspaper reported. China Investment Corp. might buy four to 10 percent of Daimler, Peoples Daily said on its website, citing anonymous sources. It gave no other details.