The Leading Source for Manufacturing News & Insight
Tesla Repays DOE Loan Nine Years Early
May 23, 2013 11:15 am | by Joel Hans, Managing Editor, Manufacturing.net | News | CommentsTesla Motors, the California-based electric vehicle manufacturer, has announced that it has paid off its 2010 loan from the Department of Energy (DOE) in full as of today. The payment of $451.8 million repays the full loan with interest. The company claims it is the only American automaker to have fully repaid the government of its loans.
Driving Manufacturing Success by Backing Up
May 23, 2013 10:36 am | by Michael Krutikov, Senior Global Marketing Manager, SMB Data Protection, at Symantec | Articles | CommentsToday’s smaller manufacturers are creating enormous amounts of data — everything from new product designs to top-secret intellectual property, as well as a constant flow of customer and sales information that must be managed and protected every day. To say that this data is vital would be understating the value of its constant use, and any loss of information could be devastating.
Nissan To Recall 840,000 Vehicles
May 23, 2013 10:21 am | News | CommentsNissan Motor Co. said Thursday it will recall around 840,000 March and Cube compact cars, including 263,942 units in Japan, produced between February 2002 and August 2004, due to faulty steering wheels. The bolts connecting the steering wheels and steering columns in the two models may not have been screwed on properly and could lead to a loss of control.
Dutch Arrest Meat Works Owner In Horse Meat Probe
May 23, 2013 10:15 am | by Mike Corder, Associated Press | News | CommentsInvestigators from the Dutch Food and Consumer Product Safety Authority arrested the man on suspicion of fraud and detained him for further questioning. If convicted, he faces a maximum sentence of six year's imprisonment, according to prosecutors.
Doctors Save Ohio Boy By 'Printing' An Airway Tube
May 23, 2013 9:36 am | by Marilynn Marchione, AP Chief Medical Writer | News | CommentsIn a medical first, doctors used plastic particles and a 3-D laser printer to create an airway splint to save the life of a baby boy who used to stop breathing nearly every day. It's the latest advance from the booming field of regenerative medicine, making body parts in the lab.
Unemployment Aid Applications Fall To 340K
May 23, 2013 9:30 am | by Paul Wiseman, AP Economics Writer | News | CommentsThe number of Americans applying for unemployment benefits fell by 23,000 last week, further evidence that the job market is slowly returning to health. Applications for unemployment aid declined to a seasonally adjusted 340,000 in the week ending May 18, the Labor Department said Thursday.
Dover To Spin Off Communications Businesses
May 23, 2013 9:28 am | News | CommentsEquipment maker Dover Corp. said Thursday that its board has approved a plan to spin off some of its communication technologies businesses into a new publicly traded company. The new company will be known as Knowles Corp. and products will include acoustic components such as microphones, speakers, receivers and transducers. It also will produce communication infrastructure components, Dover said.
Solar Plane Completes 2nd Leg Of Trip In Texas
May 23, 2013 8:25 am | News | CommentsA solar-powered plane has landed in Texas, completing the second leg of a trip across the United States. The Solar Impulse is making the first attempt by a solar airplane capable of flying day and night without fuel to fly across the U.S. The plane landed early Thursday at Dallas-Fort Worth International Airport after taking off Wednesday from Phoenix.
3 Former Execs Sue Carbon Motors Over Pay
May 23, 2013 8:12 am | News | CommentsThree former executive vice presidents of a company that planned to build high-tech police cars at an eastern Indiana factory have sued the corporation for more than $600,000 in deferred wages. The company fell apart after the U.S. Department of Energy rejected the company's request for a $310 million loan last year.
GM Recalling Cadillac SUVs To Tighten Wheels
May 23, 2013 8:02 am | News | CommentsGeneral Motors Co. is recalling more than 27,000 Cadillac SUVs worldwide because the wheels can fall off. The company says the recall affects the 2013 Cadillac SRX with 18-inch wheels. Canadian safety regulators say the wheel nuts may not have been tightened enough at the factory.
Building Materials Blamed In Bangladesh Disaster
May 23, 2013 7:59 am | by Farid Hossain, Associated Press | News | CommentsThe defects and errors that led to the world's deadliest garment-industry accident extend from the swampy ground the doomed Rana Plaza was built on, to "extremely poor quality" construction materials, to the massive, vibrating equipment operating when the eight-story building collapsed.
Bernanke Signals Fed To Maintain Stimulus Efforts
May 23, 2013 7:42 am | by Martin Crutsinger, AP Economics Writer | News | CommentsLawmakers pressed Bernanke to explain when the Fed might start to scale back its purchases. Bernanke said the pace could be reduced over the next few meetings, if the job market shows "real and sustainable progress." And he wouldn't rule out curtailing the purchases by Labor Day.
Survey Shows China Manufacturing Contracting
May 23, 2013 12:42 am | by Joe McDonald, AP Business Writer | News | CommentsA survey shows China's manufacturing contracted this month, adding to signs a fragile recovery in the world's No. 2 economy is slowing. HSBC Corp. said Thursday the preliminary version of its monthly purchasing managers index fell to a seven-month low of 49.6 from April's 50.4 on a 100-point scale. Numbers below 50 show a contraction.
Baldor Electric Introduces Full Line Of ER-Style Ball Bearings
May 22, 2013 4:20 pm | Products | CommentsBaldor Electric Company has introduced its line of Dodge ER-Style ball bearings, which are available in two shaft attachment methods. The set screw version has a 65° set screw angle for better shaft grip, while the D-Lok product uses a clamp collar grip to minimize vibration.
Median CEO Pay Rises To $9.7M In 2012
May 22, 2013 2:14 pm | by Christina Rexrode, AP Business Writer | News | CommentsAfter years of pressure from corporate governance activists unhappy about big payouts, many companies have revamped their compensation formulas. They have awarded a bigger chunk of compensation in stock to align pay more closely to performance and have become more transparent about how compensation decisions are made.
Solar Industry Pushes For More Use In Georgia
May 22, 2013 2:09 pm | by Ray Henry, Associated Press | News | CommentsThe solar industry in Georgia is pushing a power monopoly to expand its use of solar energy as it plans to meet the state's electricity needs over the next two decades. State utility regulators heard testimony Tuesday on the energy plans from Southern Co. subsidiary Georgia Power, which must submit new plans every three years.
Italy Seizes $1.5B From Steel Family
May 22, 2013 2:05 pm | News | CommentsProsecutors allege in the order Wednesday that the real estate, stocks and other financial assets belonging to the Riva family were obtained through the misuse of funds belonging to the Ilva steel plant. Brothers Emilio and Adriano Riva, founders of the company that owns the plant, are currently under investigation for fraud.
New Show Brings Messy Workplaces To Television
May 22, 2013 2:03 pm | by David Bauder, AP Television Writer | News | CommentsIn its initial incarnation, employees were given the power to determine who should be laid off within companies that needed to shrink for economic reasons. The show drew awful advance publicity — one magazine called it a step toward public executions — and never aired.
Business Agreements: What Did I Just Sign?
May 22, 2013 11:57 am | by Robert A. Stone, CPA, ABV, CFF | Articles | CommentsSigning a business or partnership agreement is usually a time for celebration. The alliance has been thoroughly discussed, you understand the value each party contributes, and you’re excited to have a new partner for your manufacturing company. But in the process of creating an exciting new venture, entrepreneurs often fail to examine the specifics of the agreement. The details in a business agreement don’t seem important, until they are.
Combatting Counterfeiting On All Fronts
May 22, 2013 11:30 am | by Martin Berman, Managing Director, Micro-Pak Ltd | Articles | CommentsMany manufacturers, retailers and consumers alike might naively believe that counterfeiting is a problem that only companies like Louis Vuitton or Coach suffer from. After all, who could guess that functional packaging material could produce the same response as the latest Alma bag?
