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Today in Manufacturing

Daily news and top headlines for manufacturing professionals

Alpharma Accepts King Pharma Takeover

November 24, 2008 5:22 am | Comments

New Jersey-based Alpharma has finally agreed to King Pharmaceuticals' $1.6 billion cash takeover offer, ending the drugmakers' months-long battle.

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Associated Press: Gov't Pays For Deadly Drugs

November 24, 2008 5:08 am | by Ricardo Alonso-Zaldivar and Frank Bass, Associated Press Writers | Comments

Dozens of deaths have been linked to medications that have never been reviewed by the government for safety and effectiveness but are still covered under Medicaid, AP said.

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German Business Confidence At 15-Year Low

November 24, 2008 4:55 am | by George Frey, AP Business Writer | Comments

Business confidence in Europe's biggest economy fell to a 15-year low in November as worries about the economy mounted amid the global economic crisis.

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1979 Chrysler Loan Guarantee Offers Lessons To Big 3

November 24, 2008 4:55 am | by Ken Thomas, Associated Press Writer | Comments

When Chrysler teetered on the brink of bankruptcy, it spent months building support for a $1.5 billion loan guarantee that helped save it and tens of thousands of jobs.

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Lawmakers: Detroit Will Show They're Worth Helping

November 24, 2008 4:45 am | Comments

Leading Democrats expect U.S. automakers will show Congress next month they are worth rescuing and are capable of returning to global pre-eminence.

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Consumers Steering Clear Of Auto Bankruptcy

November 24, 2008 4:35 am | by Kimberly S. Johnson, AP Auto Writer | Comments

It's unlikely Chevy and Cadillac owners would be left with worthless warranties and no replacement parts, but Detroit's dire situation may already be keeping buyers away.

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Union Rejects GPC Contract Offer

November 24, 2008 4:25 am | Comments

Members of United Food and Commercial Workers, on strike since Aug. 22, rejected the latest proposal from Grain Processing Corp. in Muscatine, Iowa.

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Former Siemens Exec Gets Probation, Fine

November 24, 2008 4:25 am | Comments

State court in Nuremberg sentenced Johannes Feldmayer to two years probation and a fine for his involvement in corruption at Germany's largest industrial conglomerate.

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Lenox Group Files For Bankruptcy

November 24, 2008 4:22 am | Comments

Maker of dinnerware, gifts and collectibles said Monday it filed for Chapter 11 bankruptcy protection, the latest company to succumb to the weak retail environment.

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Steel Shaken By Sudden Drop After Record Profits

November 24, 2008 4:15 am | by Daniel Lovering, AP Manufacturing Writer | Comments

Just weeks after posting record profits, steel makers are facing dwindling orders, production cuts, layoffs -- and tougher times lay ahead, analysts say.

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New Hampshire Hit By Auto Industry Downturn

November 24, 2008 4:09 am | Comments

Some of the 7,000 New Hampshire auto parts workers could be part of the estimated 2.5 million U.S. job losses if just one of the big three automakers declared bankruptcy.

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Analyst: Stimulus Won’t Impact Manufacturing Till 2010

November 24, 2008 4:05 am | Comments

Economic stimulus package Barack Obama is expected to announce Monday won't likely have a major impact on manufacturing until the end of 2009 or later.

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ArcelorMittal Warns Over 2,000 Layoffs Possible

November 24, 2008 4:01 am | Comments

As many as 2,444 employees at ArcelorMittal's steel plant in Indiana could be laid off indefinitely in January, the company said.

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Johnson & Johnson Buying Omirix For $438M

November 24, 2008 3:55 am | Comments

Diversified health care-products company said Monday it will pay $438 million for Omrix Biopharmaceuticals Inc., in a move to expand its surgical product unit.

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Detroit To Host National Summit

November 24, 2008 3:51 am | Comments

More than a dozen corporate chiefs have agreed to speak at the convention next year on the future of manufacturing, technology, energy and the environment.

France, Germany Compare Economic Solutions

November 24, 2008 3:50 am | Comments

Two countries said they agreed that coordinated action was key to addressing the economic downturn, even if different measures were used by Paris or Berlin.

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GM-Suzuki Workers OK Layoffs

November 24, 2008 3:47 am | Comments

Workers at CAMI Automotive, a GM and Suzuki joint venture, voted in favor of rotating layoffs between January and April 2009, meaning members will work in alternating two-week shifts.

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Buffett: Automakers Face Bailout Or Bankruptcy

November 21, 2008 12:01 pm | by Josh Funk, AP Business Writer | Comments

Billionaire investor Warren Buffett says U.S. automakers need a new business model to better compete, whether it takes bankruptcy or a government bailout to achieve.

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Grand Jury Indicts Agriprocessors

November 21, 2008 9:55 am | Comments

Federal grand jury in Iowa has returned a 12-count indictment against the meatpacker and some employees on charges ranging from conspiracy and harboring illegal immigrants to bank fraud.

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Fed Official Weighs In On Economy

November 21, 2008 9:48 am | by Jeannine Aversa, AP Economics Writer | Comments

Economy's weakness to stretch well into next year, though it's difficult to tell how long and how deep the downturn will be, according to Federal Reserve Bank of Chicago's president.

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