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Daily news and top headlines for manufacturing professionals

Ford Profit Falls In 3Q On Truck Costs

October 24, 2014 9:49 am | by Dee-Ann Durbin, AP Auto Writer | News | Comments

Ford's new aluminum-sided F-150 will be a lot lighter and more efficient when it goes on sale later this year. But for now it's a serious drag on profits. Ford's net income dropped 34 percent to $835 million in the third quarter, largely due to the cost of launching the pickup. The new F-150, which is...

Fuel Costs Ease, U.S. Airline Profits Soar

October 23, 2014 2:08 pm | by David Koenig, AP Business Writer | News | Comments

Saving a nickel or a dime per gallon might not seem like much to the average motorist, but for airlines that burn hundreds of millions of gallons of fuel every month, it adds up quickly. Profits are soaring at the biggest U.S. airlines, and a chunk of credit goes to those savings at the pump. Fuel is an airline's...

Caterpillar Beats Wall Street Forecasts In 3Q

October 23, 2014 2:02 pm | by The Associated Press | News | Comments

Caterpillar's belt tightening paid off in the third quarter as the manufacturer easily beat Wall Street expectations and raised its outlook for the year. Shares rose nearly 4 percent before the opening bell Thursday. The company has wrestled with a slowing global economy and took a restructuring charge...

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Coke Slashing Costs As Soda Sales Remain Flat

October 23, 2014 1:59 pm | by The Associated Press | News | Comments

Coca-Cola said it plans to slash costs by $3 billion a year after the world's biggest beverage maker reported disappointing sales on flat soda volume.The Atlanta-based company said it will reach its cost-cutting goal by 2019 through a variety of measures, such as restructuring its global supply chain. It did not specify how...

GM Profits Nearly Double, Led by North American Sales

October 23, 2014 12:13 pm | by Tom Krisher, AP Auto Writer | News | Comments

Big profits from rising SUV and truck sales in North America helped General Motors nearly double its third-quarter net profit and more than offset its struggles in Europe and South America. The automaker posted net income of $1.38 billion, or 81 cents per...

Coal-Rich Countries May Block New EU Climate Deal

October 23, 2014 9:56 am | by Monika Scislowska, The Associated Press | News | Comments

European Union leaders meeting in Brussels to stamp their new, ambitious greenhouse gas emissions plan should prepare for unyielding opposition from coal-reliant Poland and other East European countries who say their developing economies and electricity bills would suffer too much from the new...

India Picks Up Pace On Economic Overhaul

October 23, 2014 2:33 am | by Muneeza Naqvi, The Associated Press | News | Comments

After months of criticism for not moving aggressively enough on promises of an economic overhaul, India's new prime minister has announced a string of policies designed to kick-start Asia's third-largest economy. Over the past week, Prime Minister Narendra Modi has unveiled an overhaul of India's...

China's Manufacturing Fails To Fire In October

October 23, 2014 12:37 am | by The Associated Press | News | Comments

A gauge of the health of China's manufacturing industry inched higher in October but factory output was at a five-month low in a sign of slowing domestic and foreign demand. HSBC said Thursday the preliminary version of an index based on a survey of factory purchasing managers rose to 50.4 from...

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U.S. Industrial Vacancy Rate The Lowest In Over A Decade

October 22, 2014 1:27 pm | by Cushman & Wakefield National Industrial | News | Comments

The U.S. industrial vacancy rate dropped to its lowest level in more than a decade during the third quarter of 2014, according to commercial real estate services firm Cushman & Wakefield. The company’s latest research findings, released today, show significant space absorption, which coupled...

Does America Deserve A Raise?

October 22, 2014 12:14 pm | by Maura Falk, Associate Editor, Industrial Maintenance & Plant Operations | Blogs | Comments

With an economy that is tentatively getting back on its feet, it only seems appropriate that minimum wage become a point of focus. Currently the federal minimum wage is $7.25 per hour, however, this may soon be a figure of the past.“America deserves a raise,” stated President Obama to a...

Bourbon Makes Mark On KY Economy

October 21, 2014 2:13 pm | by Bruce Schreiner, Associated Press | News | Comments

Kentucky's bourbon industry is making a bigger splash in the state's economy, nearly doubling its workforce in two years and leading a $3 billion distilling sector, a study said Tuesday. By 2014, the number of licensed distilling companies tripled in two years from 10 to 31 — the most distilleries in Kentucky since...

Unemployment Rates Fall In 31 States

October 21, 2014 2:00 pm | by Christopher Rugaber, The Associated Press | News | Comments

Unemployment rates fell in 31 U.S. states in September, including in many where incumbent governors and senators face tough re-election campaigns. The report is the final data on state unemployment before the Nov. 4 elections. Tuesday's data may quickly find its way into late campaign ads and stump speeches. The economy is the top concern for...

McDonald's Faces Problems In The U.S.

October 21, 2014 10:57 am | by The Associated Press | News | Comments

Times are getting leaner for McDonald's. McDonald's said Tuesday a key sales figure declined 3.3 percent in the U.S., marking the fourth straight quarter of declines for the world's biggest hamburger chain. By contrast, Chipotle reported a 19.8 percent increase in sales at...

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Kimberly-Clark To Cut Up To 1,300 Jobs

October 21, 2014 10:09 am | by The Associated Press | News | Comments

Kimberly-Clark plans to eliminate up to 1,300 jobs as part of restructuring efforts aimed at reducing costs and making its business more efficient. The consumer products company has 58,000 workers worldwide, according to its website. Kimberly-Clark Corp. said Tuesday that it anticipates...

Can Paid Internships Help To Bridge The Gap In Manufacturing?

October 20, 2014 1:58 pm | by Megy Karydes, Communications Consultant, IIE | News | Comments

Trevor Fischer, a 23 year old enrolled at Bellingham Technical College in Bellingham, Washington, admits he never held much interest in pursuing a career in manufacturing. He believes young people don't consider a career in manufacturing because the idea of working at a big industrial plant can be...

Federal Reserve Chair Greatly Concerned By Widening Inequality

October 20, 2014 10:05 am | by Martin Crutsinger, AP Economics Writer | News | Comments

Federal Reserve Chair Janet Yellen sounded an alarm Friday about widening economic inequality in the United States, suggesting that America's longstanding identity as a land of opportunity was at stake.The growing gap between the rich and everyone else narrowed slightly during...

Survey: Pay Remains Stagnant Despite Strong U.S. Hiring

October 20, 2014 9:57 am | by Christopher S. Rugaber, AP Economics Writer | News | Comments

U.S. businesses were much less likely to boost pay in the third quarter than in previous months, even as hiring remained healthy, a sign that wage gains may remain weak in the coming months. A quarterly survey by the National Association for Business Economics found...

NY Yogurt Plant Laying Off 32

October 17, 2014 1:35 pm | by The Associated Press | News | Comments

An upstate New York yogurt company says it's laying off more than 30 workers, an announcement made just as yogurt became the state's official snack. Local media report that Bogota, Colombia-based Alpina Foods said Wednesday it will lay off 32 employees at its plant in the town of...

GE 3Q Profit Rises On Oil, Aviation Strength

October 17, 2014 1:30 pm | by Jonathan Fahey, AP Business Writer | News | Comments

General Electric's third quarter profit rose 11 percent on strong performance from its aviation and oil and gas divisions. GE reported Friday net income of $3.54 billion for the quarter on sales of $36.17 billion. Last year during the same period the company earned $3.19 billion...

iPhone Glass Maker To Cut 727 Jobs In AZ

October 16, 2014 10:34 pm | by The Associated Press | News | Comments

A manufacturer of sapphire glass that Apple Inc. uses in iPhones plans to eliminate 727 jobs at an Arizona plant. GT Advanced Technologies filed for Chapter 11 bankruptcy protection last week. The company on Thursday announced its layoff plans for the Mesa plant as required by the federal Worker...

Factories In Philadelphia Area Growing More Slowly

October 16, 2014 5:20 pm | by Christopher S. Rugaber - AP Economics Writer | News | Comments

A measure of factory activity in the Philadelphia region slipped last month, but remained at a healthy level, evidence that U.S. manufacturing output is holding up despite signs of a global slowdown. The Federal Reserve Bank of Philadelphia said Thursday that its index of...

Eli Lilly Closing Puerto Rico-Based Facility

October 16, 2014 4:52 pm | by The Associated Press | News | Comments

Eli Lilly said Thursday that it will close one of its three manufacturing facilities in Puerto Rico at the end of 2015. The Indianapolis company said it is closing its Guayama facility because the patents on some of the drugs made there have expired. That means new competition reached the...

After A Solid Run Of Advances, Manufacturing Takes A Slight Step Back

October 16, 2014 4:16 pm | by Manufacturers Alliance for Productivity and Innovation (MAPI) | News | Comments

A nearly two-year upward trend experienced a hiccup according to the quarterly MAPI Foundation Business Outlook, a survey conducted by the MAPI Foundation, the research affiliate of the Manufacturers Alliance for Productivity and Innovation. The survey’s composite index is a leading indicator for the manufacturing...

Falling Oil Prices Shake Up Global Economies

October 16, 2014 2:25 pm | by Jonathan Fahey, AP Energy Writer | News | Comments

A sudden plunge in the price of oil is sending economic and political shockwaves around the world. Oil exporting countries are bracing for potentially crippling budget shortfalls and importing nations are benefiting from the lowest prices in four years. The global price of oil is...

U.S. Factory Output Rises 0.5% In September

October 16, 2014 9:30 am | by Josh Boak, AP Economics Writer | News | Comments

U.S. manufacturing output rose in September, led by gains for aerospace products, furniture, clothing, and plastics. The Federal Reserve says output at manufacturing plants rose 0.5 percent in September after falling 0.5 percent in August. Total industrial production surged 1 percent...

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