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Daily news and top headlines for manufacturing professionals

CAT CEO's Compensation Cut To $12M

April 22, 2014 8:50 am | by David Koenig, AP Business Writer | News | Comments

Caterpillar cut the value of its CEO's pay package by 32 percent to $12 million in 2013, a year when the heavy machinery maker saw its profits fall by a third, according to an Associated Press analysis.         

GM Loses Communications, Human Resources Heads

April 14, 2014 11:55 am | by Tom Krisher, AP Auto Writer | News | Comments

General Motors is replacing the executives in charge of communications and human resources as it struggles with a string of embarrassing recalls that have led to congressional hearings and federal investigations.        

Biden Swears In Head Of Small Business Agency

April 8, 2014 12:18 pm | News | Comments

Contreras-Sweet says entrepreneurs are the difference-makers in the U.S. economy and that SBA plays a pivotal role in helping them overcome hurdles.                   


Mulally's Pay Up 11 Percent In 2013

March 31, 2014 10:17 am | by Dee-Ann Durbin, AP Auto Writer | News | Comments

Ford CEO Alan Mulally's compensation rose 11 percent to $23.2 million in 2013, as the company reported record profits in North America and Asia.                    

Another $1 For Google Co-Founders

March 31, 2014 8:37 am | News | Comments

Google paid co-founders Larry Page and Sergey Brin their customary $1 salaries last year while Executive Chairman Eric Schmidt's compensation more than doubled to $19.3 million.             

Head Of VW's Lone U.S. Plant Going Back To Germany

March 28, 2014 12:38 pm | News | Comments

Frank Fischer, who has headed Volkswagen's only U.S. plant in Chattanooga since its construction, is leaving to manage the automaker's factory in Emden, Germany.                

Kodak Founder's Grave Part Of Business Park Sale

March 27, 2014 8:34 am | News | Comments

The ashes of George Eastman, founder of Eastman Kodak, are buried under a memorial located on what is now the Eastman Business Park.                     

Barra Apologizes For Deaths Tied To Recall

March 18, 2014 2:12 pm | by Tom Krisher, AP Auto Writer | News | Comments

Barra stopped short of saying the company would compensate families of those killed in crashes, but said GM would do what's right for its customers after it completes an internal investigation.           


GM Creates New Post For Safety Issues

March 18, 2014 10:40 am | by Tom Krisher, AP Auto Writer | News | Comments

General Motors has named a 40-year engineer as its new safety chief, placing a single person in charge of recalls and other safety issues as it deals with a huge compact car recall that has damaged the company's reputation.      

GE's CEO's Pay Falls To $19.2M

March 6, 2014 11:04 am | News | Comments

General Electric CEO Jeffrey Immelt's compensation fell 7 percent last year to $19.2 million primarily because of a big drop in his long-term pay.                   

Spotlight On CIOs After Target Exec's Departure

March 6, 2014 7:57 am | by Bree Fowler, AP Technology Writer | News | Comments

CIOs from companies in all walks of business are using the Target breach as a rallying point to call attention to their struggle and garner additional funds and manpower to fight digital threats.            

Apple CFO To Retire

March 4, 2014 9:29 am | News | Comments

Apple's longtime Chief Financial Officer Peter Oppenheimer will retire in September and he'll be replaced by the company's corporate controller.                   

Microsoft: Ex-Skype CEO, Marketing Officer Leaving

March 4, 2014 8:06 am | News | Comments

New CEO Satya Nadella announced the news in a blog post Monday. It's his first big move since he took over from outgoing CEO Steve Ballmer last month.                   


Gates Tops Forbes' Billionaire Rankings

March 3, 2014 2:01 pm | News | Comments

Microsoft co-founder Bill Gates is back on top of the list of the world's richest people after a four-year hiatus.                         

Tomko Named President Of Honda In Alabama

February 25, 2014 8:41 am | News | Comments

A new executive will lead Honda's operations in Alabama. Honda Manufacturing of Alabama says Jeff Tomko will take over as company president on April 1. Tomko is replacing Tom Shoupe, who becoming executive vice president and chief operations officer of Honda of America Manufacturing Inc.

Coca-Cola CFO To Retire As Cost-Cutting Ramps Up

February 20, 2014 3:28 pm | News | Comments

Longtime Coca-Cola Chief Financial Officer Gary Fayard will retire in May as the company ramps up its cost-cutting efforts. Succeeding Fayard is Kathy Waller, currently vice president, finance and controller.       

GM CEO Barra's Pay Package Worth $14.4M This Year

February 11, 2014 8:02 am | News | Comments

New General Motors CEO Mary Barra will get a pay package worth $14.4 million this year, 58 percent more than her male predecessor, the company said Monday. GM released the figure to counter reports that said Barra, the first woman to lead a major automaker, would be paid less than former Chairman and CEO Dan Akerson.

2 Gov't Appointed GM Board Members To Leave In June

February 5, 2014 8:06 am | News | Comments

The company said in a regulatory filing that David Bonderman won't seek election at the company's annual meeting. Krebs plans to retire. Both were appointed to the board by the U.S. government in July of 2009, shortly after GM left bankruptcy protection.

Nadella To Head Microsoft; Gates Leaves Chair Role

February 4, 2014 10:39 am | by Ryan Nakashima, AP Business Writer | News | Comments

Microsoft has named the head of its cloud computing business as the company's next CEO, tapping a longtime insider to lead efforts to catch rivals in mobile devices and offer more software and services over the Internet. Satya Nadella replaces Steve Ballmer immediately to become only the third chief executive in Microsoft's 38-year history.

IBM's CEO, Other Top Execs Give Up 2013 Bonuses

February 3, 2014 8:06 am | News | Comments

IBM CEO Virginia Rometty and the rest of her senior management team are relinquishing their 2013 bonuses as penance for the technology company's lackluster performance last year. The decision will result in a substantial pay cut for the affected executives, whose annual bonuses often exceed their salaries.

Ex-Marlboro Man Dies From Smoking-Related Disease

January 27, 2014 11:15 am | by Daisy Nguyen, Associated Press | News | Comments

Eric Lawson, who portrayed the rugged Marlboro man in cigarette ads during the late 1970s, has died. He was 72. Lawson died Jan. 10 at his home in San Luis Obispo of respiratory failure due to chronic obstructive pulmonary disease, or COPD, his wife, Susan Lawson said Sunday.

Thai Police Suspect Tata Exec Killed Himself

January 27, 2014 8:26 am | News | Comments

Thai police say the deadly fall from a luxury hotel room of a British executive at India's automotive giant Tata Motors may have been a suicide. Managing Director Karl Slym died Sunday while in Bangkok to attend a board meeting of the company's Thai affiliate.

Barra To Stay The Course At GM, But Accelerate

January 24, 2014 7:54 am | by Dee-Ann Durbin, AP Auto Writer | News | Comments

Among her priorities is making GM's brand messages clear and consistent worldwide. New vehicles like the Cadillac ATS sedan — which goes on sale in China this year — can help Cadillac become a global luxury brand. Chevrolet needs to show that it provides a lot of value to buyers.

Peltz Joins Mondelez Board, Backs Off PepsiCo Deal

January 21, 2014 10:18 am | by Candice Choi, AP Food Industry Writer | News | Comments

Activist investor Nelson Peltz is no longer pushing for a deal between PepsiCo and Mondelez, after Mondelez on Tuesday named him to its board. Mondelez, which makes Oreo and Chips Ahoy cookies, says the appointment expands its board to 12 members and that Peltz will be among its nominees for election at its shareholders meeting.

GM To Pay New CEO Barra $1.6M

January 20, 2014 8:23 am | by Joshua Freed, AP Business Writer | News | Comments

General Motors Co. says new CEO Mary Barra will get a base salary of $1.6 million per year as she takes over the global automaker. GM said in a filing on Friday that Barra will also be eligible for $2.8 million in short-term incentives. Her pay would climb further if GM shareholders approve a new long-term incentive plan at their next annual meeting.

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