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Daily news and top headlines for manufacturing professionals

Cutler Attacks LePage Over Great Northern Paper Deal

September 30, 2014 7:44 pm | by Patrick Whittle - Associated Press | News | Comments

Independent governor's race candidate Eliot Cutler accused Republican Gov. Paul LePage on Tuesday of leaving taxpayers on the hook for $15.9 million over seven years with a failed deal that aimed to save a pulp and paper manufacturer that recently filed for bankruptcy. Cutler said that LePage...

Bill Gates Ranked Richest American By Forbes

September 30, 2014 11:35 am | by Mae Anderson, Associated Press | News | Comments

Microsoft co-founder Bill Gates topped Forbes' latest list of the 400 richest Americans for the 21st straight year. The list, released on Monday, was largely unchanged for 2014 and showed ...          

Factory Boom Cranks Up Economy, Leads To Strongest Growth In 2 Years

September 30, 2014 10:56 am | by Paul Davidson, USA TODAY | News | Comments

After years of factory closings shrank the nation's industrial footprint, a miniboom in plant construction is beginning to reverse the trend and fuel faster economic growth.A 12.6% surge in spending on ...        

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China Manufacturing Growth In September Low

September 30, 2014 3:43 am | by The Associated Press | News | Comments

China's manufacturing activity in September held steady at the previous month's low level, indicating the world's second-largest economy faces risks to growth, a survey showed Tuesday. HSBC Corp.'s monthly purchasing managers' index stood at ...

Consumer Spending Up In August

September 29, 2014 4:03 pm | by Martin Crutsinger, AP Economics Writer | News | Comments

Americans boosted spending by a healthy amount in August, offering welcome evidence that the economy is on solid footing heading into the final quarter of the year. Consumer spending in August rose 0.5 percent from the previous month after...

Brose Celebrates Opening New Michigan Plant

September 29, 2014 3:14 pm | by The Associated Press | News | Comments

Brose North America celebrated the grand opening of its new facility in New Boston, Michigan, today. The facility will support increased growth with Brose's domestically located OEM partners while making a positive impact on Michigan's economy. The opening...

HoneyBaked Ham To Hire 10K Employees

September 29, 2014 11:56 am | by The Associated Press | News | Comments

It may only be September, but HoneyBaked is already gearing up for the holiday season. The company is preparing for the annual rush on its signature Honey Baked Hams, Turkey Breasts, and full assortment of premium products by providing part-time jobs for more than...

The Inversion Crackdown Is In Full Swing

September 29, 2014 10:02 am | by Maura Falk, Associate Editor, Industrial Maintenance & Plant Operations | Blogs | Comments

It looks like the Obama administration has finally thrown down the gauntlet with companies moving their headquarters overseas. For years, companies have been buying smaller businesses abroad and, in turn, evading good old Uncle Sam and his taxes. This practice is called inversion, and President Obama...

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Fed's Lockhart Says Inflation Risk Still Low

September 25, 2014 6:44 pm | by Jeff Amy - Associated Press | News | Comments

Atlanta Federal Reserve President Dennis Lockhart said Thursday that he has increasing confidence in the economy but still wants to see more data to prove that growth is on a sustainable path before raising interest rates, saying he doesn't expect rates to ...

Weak Demand, Plentiful Supply Drive Decline In Oil Prices

September 25, 2014 5:57 pm | by U.S. Energy Information Administration | News | Comments

North Sea Brent crude oil prices have remained under the symbolic $100/barrel level since September 5, falling to $94.13/barrel this afternoon, the lowest level in more than two years. Prices have declined almost $21 (18%) from the 2014 daily peak of $115/barrel on...

Applications For U.S. Unemployment Rise To 293K

September 25, 2014 9:51 am | by Christopher Rugaber, The Associated Press | News | Comments

The number of people seeking U.S. unemployment benefits increased last week after falling sharply two weeks ago. Despite the rise, the level of applications remains near pre-recession levels, a sign that hiring will likely remain healthy. Weekly unemployment benefit applications rose...

Durable Goods Fell 18.2 Percent In August

September 25, 2014 8:45 am | by Martin Crutsinger, AP Economics Writer | News | Comments

Business orders for long-lasting manufactured goods fell by a record amount in August, dragged lower by a plunge in demand for commercial aircraft. But orders in a key category that tracks business investment plans posted a gain. The Commerce Department says that orders for durable goods fell...

India Launches Campaign To Boost Manufacturing

September 25, 2014 7:45 am | by The Associated Press | News | Comments

India's prime minister has launched a campaign to entice investment and promote the country as the world's next cheap labor economy. The "Make in India" campaign is as much a slick marketing campaign as it is a promise to streamline bureaucracy and make India investor friendly. Prime Minister...

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Ford To Add 1,200 Workers At MO Plant

September 25, 2014 12:44 am | by The Associated Press | News | Comments

Ford Motor Co. said Thursday that it's adding 1,200 workers and another shift to a Missouri plant that makes its new Transit van. The Transit arrived at dealerships in June, but so far only 2,085 have been sold through August, according to Autodata Corp. However, demand has been gradually...

Great Northern Paper Files For Bankruptcy

September 23, 2014 4:39 pm | by The Associated Press | News | Comments

Great Northern Paper Co. LLC has filed for bankruptcy. The Portland Press Herald reports that the company, which has faced significant financial challenges for years, filed for Chapter 7 bankruptcy Tuesday. The move may allow the company to pay its...

PMI For July Is Highest Since April 2011

September 23, 2014 11:43 am | by Tia Nowak, Associate Editor, IMPO | News | Comments

Economic activity in the manufacturing sector expanded in July for the 14th consecutive month, and the overall economy grew for the 62nd consecutive month, say the nation’s supply executives in the latest Manufacturing ISM Report On Business. Manufacturing expanded...

Groundbreaking Planned For Arkansas Steel Mill

September 22, 2014 11:57 am | by The Associated Press | News | Comments

Officials will break ground Monday on a $1.3 billion steel mill that's promised to be an economic boon for northeast Arkansas.A groundbreaking ceremony is set for 10 a.m. Monday near Osceola, where the Big River Steel mill is being built. The project is expected to bring about...

California Unemployment Rate Stays At 7.4 Percent

September 19, 2014 1:55 pm | by The Associated Press | News | Comments

California's unemployment rate was unchanged for a third month, holding at 7.4 percent in August, officials said Friday.The state added 44,200 nonfarm jobs during the month, bringing the total to 15.5 million, the California Emloyment Development Department...

Ohio Unemployment Rate Unchanged For August

September 19, 2014 9:52 am | by The Associated Press | News | Comments

Ohio's unemployment rate for August was unchanged from the previous month, according to state statistics released Friday. The Ohio Department of Job and Family Services said last month's 5.7 percent unemployment rate was identical to July's, with overall non-agricultural employment increasing by...

NAM Welcomes Extension Of Internet Tax Moratorium

September 19, 2014 9:40 am | by National Association of Manufacturers | News | Comments

National Association of Manufacturers Vice President of Tax and Domestic Economic Policy Dorothy Coleman issued this statement thanking Congress for including the ban on taxing Internet access in the continuing resolution approved this...

Alibaba Poised To Surge On The NYSE

September 19, 2014 9:32 am | by Mae Anderson, The Associated Press | News | Comments

Chinese e-commerce powerhouse Alibaba's began trading on the New York Stock Exchange today in a highly anticipated debut that could raise up to $25 billion. The company priced its initial public offering of stock Thursday evening at $68 per share, the top end of the expected...

The Manufacturing Day 'Challenge'

September 18, 2014 12:38 pm | by Anna Wells, Executive Editor, IMPO | Articles | Comments

Every year around election season, it seems manufacturing becomes the topic du jour. Recently, U.S. Senator Chris Coons’ (D-Del.) office announced a bipartisan bill designed to help schools strengthen their engineering programs to meet the growing...

Deconstructed Locomotive Will Power Nigeria’s Economy

September 18, 2014 12:07 pm | by GE Report | News | Comments

Nigeria has fast become Africa’s largest economy, but its infrastructure is still lagging. The electrical grid is so unpredictable that many businesses use natural gas to produce their own power. But that’s not enough. Sand and water often clog up pipelines and idle generators...

Nestle Creates 8K New Positions In Europe

September 18, 2014 11:48 am | by John Heilprin, Associated Press | News | Comments

Some 200 companies on Thursday pledged to create new work and training opportunities for Europe's young jobseekers, of which one out of four is unemployed.The alliance of major companies, including Nestle and Google, aims to create tens of thousands additional...

Dayton Leaders Considering Tax Deal For Medical Device Facility

September 18, 2014 11:36 am | by Cornelius Frolik | News | Comments

The owners of a medical-device manufacturing company plan to build a multimillion-dollar facility in north Dayton, creating at least 50 middle-class jobs within about two years. KBK Eight Properties wants to construct a 75,000-square-foot facility in...

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