Suntech Power Holdings Co. said Friday that David King is stepping down as the company's CEO and acting chief financial officer. The news sent the struggling solar company's shares up 8 cents, or 6.7 percent, to $1.27 in afternoon trading. Its shares have traded in a 52-week range of 30 cents to $1.99.
Ford Motor Co.'s marketing and sales chief in the U.S. is retiring as of Nov. 1. Ken Czubay, 64, will be replaced by John Felice, who will be vice president of U.S. marketing, sales and service. The company also named Barb Samardzich as chief operating officer at Ford of Europe.
Dell Inc. will end its quarter-century history as a publicly traded company and try to engineer a turnaround away from the prying eyes of Wall Street following shareholders' approval Thursday of a $24.8 billion buyout offer from the company's founder.
The government is getting closer to selling all of its General Motors Co. stock. The Treasury Department said in its August report to Congress that it sold $811 million worth of GM common stock last month. The report dated Tuesday says the government has recovered about $35.4 billion of the $49.5 billion bailout it gave the Detroit automaker.
Volkswagen would become a "laughingstock" if it goes through with a deal to have the United Auto Workers represent workers at its Tennessee plant, U.S. Sen. Bob Corker said Tuesday. The Tennessee Republican told The Associated Press in a phone interview that he was dismayed when VW last week sent a letter to employees regarding its discussion with the UAW about creating a German-style works council at the Chattanooga plant.
Gun manufacturer Sturm, Ruger & Co. could receive nearly $15 million for opening a new factory in the North Carolina community already home to America's largest firearms maker. Mayodan's town council on Monday approved offering Southport, Conn.-based Sturm, Ruger more than $850,000 over 14 years if it meets investment and job targets, The News & Record of Greensboro reported.
Renault's chief executive Carlos Ghosn says his No. 2 decided to step down after telling a reporter that he had his eye on the top job at General Motors Co. or Ford Motor Co. In an interview last month, chief operating officer Carlos Tavares told Bloomberg that he doubted he'd ever become head of Renault because Ghosn is still relatively young.
Koch Industries Inc. is buying electronic components and cables maker Molex for $7.2 billion. Koch — run by the billionaire brothers Charles and David — said Monday that it will pay $38.50 per Molex Inc. share. That's a 31 percent premium to the company's common stock price of $29.34 on Friday.
The chief executive of Ford Motor Co. says he has no plans to leave the company early after reports that he might be tipped to take a leading role at software maker Microsoft Corp. Ford said last year that Alan Mulally would stay with the company through at least 2014.
Kodak emerged from bankruptcy protection Tuesday vastly different from the company of old. Gone are the cameras and film that made it famous. The company hopes to replace them with new technologies such as touch screens for smartphones and smart packaging embedded with sensors.
Nokia, the former star of the cellphone world, has seen its light further dimmed by the news Tuesday that Microsoft Corp. was acquiring its handset operations. "This is naturally a big day of change in Finland's industrial history," Finnish Prime Minister Jyrki Katainen told reporters in Helsinki Tuesday after Microsoft's 5.44 billion euros ($7.2 billion) deal was announced.
French carmaker Renault is proposing a reorganization of its management structure to eliminate the position of chief operating officer after the person who held the post suddenly stepped down. Renault said it would instead add two new posts: chief competitive officer, who would be in charge of the product range, and chief performance officer, who would focus on market share and profitability.
Wes Pringle has been named President of Fluke Corporation. Pringle, who has been serving as President of Fluke Industrial, is now responsible for all Fluke global businesses, including Fluke Calibration, Fluke Biomedical and Fluke Automation. Pringle succeeds Barbara Hulit, Fluke President since 2004.
French carmaker Renault has announced that its chief operating officer, Carlos Tavares, is unexpectedly stepping down to pursue personal projects. Spokeswoman Raluca Barb said Thursday that Tavares is not leaving the company, but she would not give any more details.
The economy is showing signs of life and that makes it a good time for small business owners to re-evaluate how they are running their companies. Now that crisis mode has passed, owners need to make sure they're ready to take advantage of growth opportunities on the horizon. Experts say it's time for owners to think about taking some risks and to make sure that they are taking care of employees.
Watch the new episode of IMTSTV IN BRIEF: MTConnect Leadership Award for the status and future of MTConnect from the award recepient. John B. Byrd III, former president of AMT, The Association For Manufacturing Technology, received the MTConnect Leadership Award at the 2013 [MC]2 Conference. John answers some very important questions on the status and future of MTConnect.
Poor supervision at the steam plant serving the state government complex in Albany led to misbehavior by workers that included watching "Dancing With the Stars," being drunk on the job, and leaving bedrolls and beer cans in the facility, New York's inspector general reported Monday.
Five facilities in Texas with large quantities of the same fertilizer chemical that fueled the deadly plant explosion in West have turned away state fire marshal inspectors since the blast, investigators said Monday. A railway operator that hauls hazardous materials across Texas was also said to have rebuffed a state request to share data since the April explosion at West Fertilizer Co. that killed 15 people and injured 200 others.
Caterpillar Inc., which makes construction and mining equipment, said Tuesday that three of its long-time vice presidents have decided to retire in February. Caterpillar also said that it is reorganizing several of its divisions to better align with its strategy and appointed four new vice presidents to add depth to its leadership ranks.
BlackBerry CEO Thorsten Heins could receive almost $55.6 million if the company is sold and he is ousted from the top job. Heins would receive $48 million in equity awards, based on the company's share price at the end of its latest fiscal year, according to a regulatory filing earlier this year. He would also get $7.5 million in compensation for his salary and bonus under the change of control provisions in his contract.
Labor unions at Hyundai Motor Co. and its affiliate Kia Motors Corp. said workers voted to strike after talks with management for increased pay and benefits collapsed. Hyundai union spokesman Kwon Oh-il said Wednesday that management refused all demands by the union during three months of annual talks.
A labor group said Samsung Electronics Co. is facing a lawsuit from Brazil's government seeking damages over poor working conditions at the company's assembly lines. Reporter Brasil, a labor rights group, said on its website that Brazil's labor ministry found "serious" labor violations including up to 15 hours of work per day and insufficient breaks at Samsung's Manaus factory.
Activist investor Carl Icahn thinks Apple should be doing more to revive its stock price, and wants to help CEO Tim Cook with the resuscitation. Icahn, an outspoken billionaire renowned for pouncing on out-of-favor stocks, signaled he has Apple Inc. in his sights in two short messages posted Tuesday on his Twitter account.
An October trial has been scheduled in the employee lawsuit against Dempster Industries in Beatrice. A dozen former employees sued Dempster and its president and CEO, Wallace Davis, for lost wages and other earnings that total more than $160,000.
It seemed like a win for everyone when a startup car company, backed by political heavyweights, wooed investors with plans to build a massive auto plant in Mississippi. GreenTech Automotive announced in 2009 production would start in three years and foreign investors who plunked down at least $500,000 for the venture would get the opportunity to live in the U.S. while an impoverished area of Mississippi would get jobs and tax revenues.