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Today in Manufacturing

Daily news and top headlines for manufacturing professionals

Chrysler: Auto Industry Ripe For Mergers

October 17, 2008 5:22 am | by Tom Krisher, AP Auto Writer | Comments

Chief Executive Bob Nardelli said a steep decline in U.S. auto sales has created an environment for industry consolidation.


Senator May Seek Additional Loans For Automakers

October 17, 2008 5:20 am | by Ken Thomas, Associated Press Writer | Comments

Michigan Sen. Carl Levin said Thursday he may seek an additional $25 billion in loans before the end of the year, citing deteriorating economic conditions for Detroit's car makers.


Pentagon Cancels Textron Helicopter Deal

October 17, 2008 5:15 am | by Donna Borak, AP Business Writer | Comments

Defense Undersecretary John Young said officials decided to dump the multi-billion dollar reconnaissance helicopter program, which has been over-budget and behind schedule.


Oil Drops Below $69 A Barrel

October 16, 2008 1:44 pm | by Stevenson Jacobs, AP Business Writer | Comments

Crude oil briefly plunged to less than half its July record high after the government reported massive increases in U.S. crude and gasoline supplies.


Grupo Modelo Moves To Stop Anheuser Takeover

October 16, 2008 11:46 am | by Emily Fredrix, AP Business Writer | Comments

Mexico's largest brewer filed a notice of arbitration against part owner, Anheuser-Busch, saying the pending sale to InBev violates their investment agreement.


GM To Lay Off 1,600

October 16, 2008 11:33 am | by Tom Krisher, AP Auto Writer | Comments

Automaker to lay off 1,600 workers at three factories in the coming months as it keeps working to control its inventory amid a growing U.S. sales slump.


U.S. Economy Worries Spread

October 16, 2008 11:10 am | by Ellen Simon, AP Business Writer | Comments

Stock prices fell globally, credit markets remained tight and oil prices declined to a 14-month low as fears of recession trumped fears of inflation.


Electro Scientific To Acquire Zygo

October 16, 2008 10:50 am | Comments

Maker of test equipment for semiconductor manufacturers said Thursday it agreed to buy Zygo Corp. in an all-stock deal worth about $173.6 million.


EPA Tightens Airborne Lead Standard

October 16, 2008 10:38 am | by Dina Cappiello, Associated Press Writer | Comments

Environmental Protection Agency is setting a new health standard for lead to slash the amount of the toxic metal in the nation's air by 90 percent.


Teledyne Unit Buys UK Marine Sensor

October 16, 2008 9:41 am | Comments

Engineering and electronics products maker said Thursday it bought a marine sensor manufacturer based in the United Kingdom for an undisclosed sum.


Taiwan Manufacturing Conglomerate Founder Dies

October 16, 2008 9:00 am | Comments

Wang Yung-ching, a businessman who built his Formosa Plastics Group into Taiwan's biggest and most profitable manufacturing conglomerate, has died at 91.


OPEC Pushes Up Extraordinary Meeting

October 16, 2008 9:00 am | Comments

Organization of the Petroleum Exporting Countries says it is moving up the date for an extraordinary meeting initially scheduled for mid-November to October 24.


Report: Canadian Manufacturing Sales Weaken

October 16, 2008 8:45 am | Comments

Canadian manufacturing sector is getting weaker and a prolonged slump in the U.S. threatens its industrial economy, says a TD Bank report released Thursday.


MAPI Survey: U.S. Manufacturing Faces Bumpy Road

October 16, 2008 8:13 am | by Edited by Staff | Comments

Manufacturers will face challenges as they try to fend off prolonged damage from the economic crisis, according to the Manufacturers Alliance/MAPI.


N.Y. Court Upholds Tyco Executives' Convictions

October 16, 2008 7:59 am | Comments

State's top court has upheld convictions of former Tyco International CEO and CFO sentenced to prison for fraud and larceny for taking more than $100 million in bonuses.


GM Partners With States To Push Flex-Fuel

October 16, 2008 7:58 am | Comments

Automaker is partnering with 10 states to promote 85 percent ethanol fuel and boost the accessibility by ensuring an adequate supply and more E-85 pumps at retailers.


Boeing Strike Fallout Reaches Spirit

October 16, 2008 7:52 am | Comments

Spirit AeroSystems told its 10,500 employees that the ongoing machinists strike at Boeing Co. may force it to look at a shutdown and temporary layoffs.


Germany Reduces 2009 GDP Growth Forecast

October 16, 2008 6:40 am | by David Rising, Associated Press Writer | Comments

Citing global financial ‘uncertainty’ which threatens to push Europe's largest economy into a recession, Germany slashed a full percentage point off its economic growth forecast for 2009.


Social Security Benefits To Rise By 5.8 Percent

October 16, 2008 6:30 am | by Martin Crutsinger, AP Economics Writer | Comments

Increase is the largest since a 7.4 percent jump in 1982 and is more than double the rise that retirees got in their monthly checks starting in January of this year.


Jobless Claims Fall More Than Expected

October 16, 2008 6:25 am | by Christopher S. Rugaber, AP Business Writer | Comments

New claims for jobless benefits dropped last week as the impact of two hurricanes in September faded, but the tally remains at levels economists associate with a recession.



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