The Leading Source for Manufacturing News & Insight
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?
Manufacturers Gather In Baltimore To Share Knowledge, Discuss Efforts To Prepare An Advanced Manufacturing Workforce
May 22, 2013 11:25 am | EventsSharing information, driving innovation in manufacturing and preparing an advanced manufacturing workforce will be the focus of the 2013 Society of Manufacturing Engineers Annual Conference to be held June 2-4, 2013, at the Renaissance Baltimore Harborplace Hotel in Baltimore, Md.
Lea Industries Recalls 63,000 Children's Beds
May 22, 2013 10:21 am | News | CommentsLea Industries is recalling more than 63,000 children's beds in the U.S. and Canada because a support rail could break, putting users at risk of falling. The U.S. Consumer Product Safety Commission said Tuesday that two injuries have been reported since 2009. There have been 22 reports of incidents involving the recalled beds in the U.S. and one in Canada.
Boeing Examining Speed-Ups On 787, 737
May 22, 2013 10:19 am | News | CommentsIt's already doubling 787 production, from 5 per month last year, on its way toward 10 per month by the end of this year. The efficiency of the 787, Boeing's newest plane, has made it very popular with airlines. The company has orders for more than 800 that it hasn't built yet.
Evian Giving Its Water Bottle A Makeover
May 22, 2013 10:17 am | by Candice Choi, AP Food Industry Writer | News | CommentsEvian is giving itself a facelift to keep up with its sleek, young competitors on store shelves. The water, which is owned by French food and beverage company Danone, is unveiling a new bottle for the first time in 14 years as it looks to reinvigorate its image and win back market share in the premium water category.
Japan Watchdog: Nuke Plant Sits On Active Fault
May 22, 2013 10:13 am | by Mari Yamaguchi, Associated Press | News | CommentsIt was the first time Japanese regulators had officially recognized an active fault underneath an existing reactor, virtually acknowledging that the risk at Tsuruga had been overlooked for decades by both the operator and regulators despite warnings by some experts.
Fiat Industrial Considers Making Tax Home In UK
May 22, 2013 10:09 am | News | CommentsFiat Industrial is considering moving its tax home to Britain after it completes the merger with its U.S.-based subsidiary CNH. The possible move by the maker of heavy trucks, farm and construction vehicles would be a blow to the new Italian government of Enrico Letta, which is struggling to put public finances in order.
Japanese Execs Face Prison For Price Fixing
May 22, 2013 8:19 am | News | CommentsTwo executives at Japanese auto supplier Denso Corp. are facing more than a year in U.S. federal prison for fixing prices on auto parts. Yuji Suzuki and Hiroshi Watanabe have pleaded guilty to charges that they fixed prices and allocated bids for electronic control units and heater control panels that were sold to Toyota Motor Corp. in the U.S. and elsewhere.
Should We Let Wunderkinds Drop Out Of High School?
May 22, 2013 8:17 am | by Beth J. Harpaz, Associated Press | News | CommentsSome folks in Silicon Valley and elsewhere say a conventional education can't possibly give kids with outsize talents what they need. Others, like Vivek Wadhwa, a fellow at Stanford Law School who teaches and advises startup companies, say dropping out to pursue a dream is like "buying a lottery ticket."
