Here's a look at the top trending stories in manufacturing today based on reader feedback: Beer brewers upset over proposed rule; Caterpillar's tax problem; and Milwaukee wants to bring Pabst home. Below these stories, check out links to other related news and features at Manufacturing Business Technology.
SANTA ROSA, Calif. (AP) -- A proposed federal rule that would make it harder for beer breweries to sell leftover grains as animal feed has brewers' blood boiling.
Companies looking for tax loopholes or ways to lower their tax burden is nothing new. Many U.S.-based companies will incorporate overseas for taxes purposes, while others will stockpile offshore profits to avoid the federal taxes the money would be subject to if brought into the U.S.
The multinational companies have accumulated $1.95 trillion outside the U.S., up 11.8 percent from a year earlier, according to securities filings from 307 corporations reviewed by Bloomberg News. Three U.S.-based companies — Microsoft Corp. (MSFT), Apple Inc. and International Business Machines Corp. — added $37.5 billion, or 18.2 percent of the total increase.
The award is less than Carnegie Mellon sought, however, and Marvell's shares rose 54 cents, or 3.4 percent, to $16.29 in afternoon trading. Continue reading...
MILWAUKEE (AP) -- Long before it was known for fine cheddar cheese or the Green Bay Packers, Wisconsin was famous for beer, especially the national brands brewed in Milwaukee: Schlitz, Blatz and Pabst Blue Ribbon.
The brewing tradition started by Milwaukee's German immigrants in the 1800s endured for more than a century, until industry consolidation in the 1980s and '90s began sending familiar brands to other companies and cities.
Now a small group of Milwaukee residents wants to revive part of that proud history by buying Pabst Brewing Co. from a California executive in hopes of returning the brand to its birthplace, possibly as a city-owned brewery. Continue reading...