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Today in Manufacturing

Daily news and top headlines for manufacturing professionals

Japanese Exports Fall By Record Amount

December 22, 2008 8:00 am | by Shino Yuasa, Associated Press Writer | Comments

Exports plunged a record 26.7 percent in November, highlighting the drop in global consumer demand for automobiles, electronics parts and other Japanese products.

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Tata To Keep Spending On Jaguar Land Rover

December 22, 2008 7:55 am | by Erika Kinetz, AP Business Writer | Comments

Indian auto giant has been spending money on its Jaguar Land Rover subsidiary and will continue to do so as needed, the company said after media reported Tata had a cash flow crisis.

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GM Workers Face Final Days At Ohio Plant

December 22, 2008 7:40 am | Comments

Automaker’s 1,080 hourly workers at a sport utility plant in Moraine, Ohio, will soon be out of a job when the plant closes on Dec. 23.

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Caterpillar Cutting Executive Pay In 2009

December 22, 2008 7:10 am | by Daniel Lovering, AP Manufacturing Writer | Comments

Mining and construction equipment maker will cut executive compensation by up to 50 percent next year because of weakening demand triggered by the global economic slowdown.

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Beijing Seeks Probe Of U.S. Taxes On Chinese Goods

December 22, 2008 6:00 am | Comments

China has asked the World Trade Organization to investigate whether the United States is illegally taxing Chinese goods such as steel pipes and off-road tires.

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Wagoner Confident GM Can Meet Loan Conditions

December 19, 2008 6:31 am | Comments

General Motors CEO says automaker has significant work ahead after receiving a government bailout, but he is confident GM will work with stakeholders to make the company viable.

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Stocks Rise As U.S. Automaker Bailout Approved

December 19, 2008 6:30 am | by Madlen Read and Sara Lepro, AP Business Writers | Comments

After tumbling Thursday, stock prices rallied as the government pledged to lend as much as $17.4 billion to U.S. automakers, staving off possible bankruptcies.

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Bush Giving Automakers $17.4 Billion

December 19, 2008 6:25 am | by Deb Riechmann, Associated Press Writer | Comments

Citing danger to the national economy, Bush administration offered $17.4 billion in emergency loans in exchange for concessions from the deeply troubled carmakers and their workers.

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Paulson: Congress Must Release Second $350 Billion

December 19, 2008 6:23 am | by Martin Crutsinger, AP Economics Writer | Comments

Treasury Secretary said Congress must release the rest of the $700 billion rescue fund because the first half has been allocated, and the remainder will 'support financial market stability'.

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U.S. Steel Serbia Cutting Output

December 19, 2008 6:15 am | Comments

Serbia subsidiary of Pittsburgh-based U.S. Steel Corp. will substantially reduce production early next year due to the global economic crisis, a company official said Friday.

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South Korea: Global Crisis Choking Exports

December 19, 2008 6:05 am | by Kelly Olsen, AP Business Writer | Comments

President Lee Myung-bak warned Friday that the global economic slowdown is choking off his country's exports and told workers they must sacrifice to keep their jobs.

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Chrysler Drops Chief Marketing Officer

December 19, 2008 5:28 am | Comments

Automaker says it is eliminating the job of chief marketing officer, with Deborah Meyer stepping down effective immediately.

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Oil Prices Rise After Sharp Drop

December 19, 2008 5:23 am | by Pablo Gorondi, Associated Press Writer | Comments

Crude prices up slightly after a sharp decline overnight as investors weighed the impact of the global economic slowdown on demand against oil producers' decision to slash output.

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Automakers Thankful For Loan

December 19, 2008 5:19 am | Comments

Chrysler and General Motors say they appreciate the $17.4 million loan program announced by President George W. Bush and that the deal will preserve many jobs.

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Japan Expects Zero Growth In Fiscal 2009

December 19, 2008 5:15 am | by Mari Yamaguchi, Associated Press Writer | Comments

Japanese economy will shrink this fiscal year and will manage only flat growth the following year, the government said Friday, underlining looming fears about a global recession.

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Ohio Governor: Bailout Opponents ‘Playing With Fire’

December 19, 2008 5:00 am | Comments

Gov. Ted Strickland tells Ohio media outlets that lawmakers who rejected the bailout for U.S. automakers are mostly looking to settle old scores, putting American manufacturing at risk.

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Production Ends At Delaware Chrysler Plant

December 19, 2008 4:50 am | Comments

Final Dodge Durango is expected to roll off the assembly line Friday at Chrysler's Newark assembly plant, putting the remaining 1,100 employees out of work.

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Chinese Manufacturing Center Gets Overhaul

December 19, 2008 4:36 am | by William Foreman, Associated Press Writer | Comments

China wants to move weak, labor-intensive factories to the interior, which would turn the Guangdong province into the country's auto maker and its Silicon Valley.

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Caterpillar Lays Off Illinois, N.C. Workers

December 19, 2008 4:35 am | by Daniel Lovering, AP Manufacturing Writer | Comments

World's largest maker of construction and mining equipment said it will lay off employees in Illinois and North Carolina as economic turmoil dampens demand for its products.

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Chinese Workers End Standoff With Police

December 19, 2008 4:30 am | by William Foreman, Associated Press Writer | Comments

Standoff at a suitcase factory is the latest unrest arising from layoffs, poor working conditions and slashed wages in China, where thousands of companies have gone bust recently.

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