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Daily news and top headlines for manufacturing professionals

GM Lowers Opposition To Bankruptcy

April 6, 2009 8:20 am | News | Comments

Automaker softens opposition to bankruptcy reorganization after government guaranteed GM warranties and indicated it would lend money to GM while it reorganized.

Pentagon’s F-22 Decision Worries Georgia County

April 6, 2009 5:55 am | Lockheed Martin | News | Comments

Cobb County is awaiting a Pentagon announcement about the fate of the F-22 Raptor fighter jet, which is assembled by 2,000 workers at Lockheed Martin Corp. in Marietta.

GM's Spring Hill Plant Could Be At Risk

April 6, 2009 5:40 am | News | Comments

Auto industry analysts suggest automaker's Spring Hill, Tenn., plant could become vulnerable as the Obama administration makes steeper demands in return for federal financial support.

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Force Protection Wins UK Vehicle Order

April 6, 2009 5:32 am | News | Comments

Joint venture that includes Force Protection Inc. has won a $122.6 million contract for heavy tactical support vehicles for Britain's Defense Ministry.

Japan Plans $99 Billion Stimulus

April 6, 2009 5:07 am | by Tomoko A. Hosaka, Associated Press Writer | News | Comments

Japanese Prime Minister Taro Aso ordered more than $99 billion in fresh spending to rescue the world's second-biggest economy from its deepest recession since World War II.

Unemployment Rate Rises To 8.5 Percent

April 3, 2009 8:05 am | by Jeannine Aversa, AP Economics Writer | News | Comments

March's unemployment rate matched expectations, though job loss of 663,000 was slightly higher than the 654,000 that economists expected.

Northrop Settles Lawsuit Over Defective Parts

April 3, 2009 5:30 am | News | Comments

Company agreed to pay $325 million to resolve allegations it provided and billed the National Reconnaissance Office for defective military satellite parts.

GM To Offer New Proposal For Bondholders, UAW

April 3, 2009 5:20 am | by Ken Thomas, Associated Press Writers | News | Comments

Automaker has prepared a new proposal for bondholders to satisfy government's demand for deeper givebacks, and is working on a new concession package for the United Auto Workers.

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Chinese Manufacturing Expands Slightly In March

April 3, 2009 5:15 am | by Joe McDonald, AP Business Writer | News | Comments

China Federation of Logistics and Purchasing said its purchasing managers index rose to 52.4 in March following a painful months-long decline that wiped out millions of jobs.

German Import Prices Drop In February

April 3, 2009 5:07 am | News | Comments

Import prices fell by 6.4 percent, the steepest decline in more than a decade, due mostly to a 26 percent drop in energy costs, the Federal Statistical Office said.

Delphi, GM To Hold Talks With Auto Task Force

April 2, 2009 11:37 am | News | Comments

Officials from Delphi, GM and President Obama's auto task force will meet Monday for talks that could lead to the struggling auto supplier exiting bankruptcy protection.

FDA Investigates N.Y. Firm In Pistachio Recall

April 2, 2009 11:12 am | by Garance Burke, Associated Press Writer | News | Comments

Authorities investigating nationwide pistachio recall are looking at a California nut processor's sister company in New York where officials found cockroaches and rodent droppings.

GM Could Be Split In Bankruptcy

April 2, 2009 8:20 am | by Jim Kuhnhenn, Associated Press Writer | News | Comments

Administration's scenario could see GM split in two, with a workable component emerging within 30 days and remaining half left in bankruptcy court to be liquidated.

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Factory Orders Jump 1.8 Percent

April 2, 2009 8:05 am | by Martin Crutsinger, AP Economics Writer | News | Comments

Commerce Department said orders for manufactured products rose by 1.8 percent in February, much better than the 1.1 percent decline that economists had expected.

New Jobless Claims Rise Unexpectedly

April 2, 2009 5:40 am | by Christopher S. Rugaber, AP Economics Writer | News | Comments

Labor Department said Thursday that initial claims for unemployment insurance rose to a seasonally adjusted 669,000 from the previous week's revised figure of 657,000.

Probe Finds Holes In Labor Department Enforcement

April 2, 2009 5:25 am | by Sam Hananel, Associated Press Writer | News | Comments

Internal investigation found the Occupational Health and Safety Administration didn't follow its own procedures in 97 percent of cases sampled in a performance audit.

Auto Recovery Chief Ready To Help Michigan

April 2, 2009 5:15 am | by Kathy Barks Hoffman, Associated Press Writer | News | Comments

Newly appointed White House director of recovery for auto communities and workers said he ‘gets it’ when it comes to understanding Michigan's economic plight.

Kraft's Voluntary Tests Found Tainted Pistachios

April 2, 2009 5:01 am | by Garance Burke, Associated Press Writer | News | Comments

If Kraft had not chosen to prioritize testing, 2 million pounds of pistachios that touched off government warnings and a scare this week probably would still be on the market.

Chrysler’s Survival Hinges On Fiat Deal

April 1, 2009 8:36 am | by Colleen Barry, AP Business Writer | News | Comments

U.S. government has anointed the Italian automaker Fiat in the role of savior for Chrysler LLC, making some $6 billion in additional aid conditional on a trans-Atlantic tie-up.

Jobless Rates Rise In Metro Areas In February

April 1, 2009 8:15 am | by Jeannine Aversa, AP Economics Writer | News | Comments

Unemployment rates moved higher in the nation's metropolitan areas, with areas in Indiana and North Carolina registering the biggest increases.

Gov. Granholm Says Michigan Is 'Hurting'

April 1, 2009 6:37 am | News | Comments

Michigan governor wants the man leading the White House effort to lend assistance to cities that depend on the auto industry to understand how badly the state is hurting.

Former Hitachi Exec Charged With Price-Fixing

April 1, 2009 5:45 am | News | Comments

Federal grand jury has indicted a former sales executive at Hitachi Displays Ltd. on charges of conspiring to fix prices for LCD displays sold to computer maker Dell Inc.

China Sending Trade Mission To U.S.

April 1, 2009 5:35 am | News | Comments

Trip comes ahead of a meeting of a high-level U.S.-Chinese economic forum held twice a year on economic and trade issues, a Chinese newspaper said.

Euro Jobless Rate Jumps To 8.5 Percent

April 1, 2009 5:11 am | News | Comments

Unemployment in the 16 nations that share the euro rose to 8.5 percent in February, and jobless rate across the entire European Union is now 7.9 percent, EU statistics office said.

India's Exports Fall 21 Percent

April 1, 2009 5:06 am | by Erika Kinetz, AP Business Writer | News | Comments

Exports plunged 21.7 percent to $11.9 billion in February, the steepest annual fall in at least 16 years, while imports shrank 23.3 percent to $16.8 billion.

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