Manufacturing news
December 2003
Gross domestic product increases in third quarter
Real gross domestic product—the output of goods and services produced by labor and property located in the United States—increased at an annual rate of 8.2 percent in the third quarter of 2003, according to revised estimates released by the US Department of Commerce’s Bureau of Economic Analysis today.
23 Dec 2003 14:39
Mass layoffs down in November
Employers initiated 1,438 mass layoff actions in November, down from 1,523 in October, according to data from the US Department of Labor's Bureau of Labor Statistics.
23 Dec 2003 16:38
Delphi announces $469 million in steering column business
Troy, MI-based auto parts manufacturer Delphi Corp. announced steering column manufacturing contracts in North America, Europe and Asia which will bring Delphi $469 million over the life of the contracts.
22 Dec 2003 14:48
Ford to take $1.6 billion Visteon charge
Dearborn, MI-based automaker Ford Motor Co. announced on Monday that it will take a $1.6 billion charge to assume more of the retirement healthcare liability costs of its supplier and former auto parts unit, Dearborn, MI-based Visteon Corp.
22 Dec 2003 19:18
Precision Tool, Die and Machine Company files Chapter 11 bankruptcy
Louisville, KY-based Precision Tool, Die and Machine Company, which manufactures metal stampings for the US appliance and automotive industries, has filed Chapter 11 bankruptcy to restructure its debt.
19 Dec 2003 19:16
Initial unemployment filings down
Initial unemployment filings declined during the week ending December 13, according to a report released by the US Department of Labor today.
18 Dec 2003 17:03
Boeing 7E7 given approval for sale to airlines
Chicago-based aerospace giant Boeing’s board of directors has given the company's Commercial Airplanes unit the go-ahead to begin offering for sale the new 7E7 Dreamliner passenger airplane.
17 Dec 2003 14:25
Solutia files Chapter 11 bankruptcy
St. Louis, MO-based Solutia Inc., which manufactures performance films, specialty chemicals and nylon products, announced today that it and 14 of its US subsidiaries have filed voluntary petitions for Chapter 11 bankruptcy.
17 Dec 2003 16:30
Manufacturing output up
According to statistics released by the Federal Reserve today, manufacturing output increased 0.9 percent in November.
16 Dec 2003 19:00
Motorola announces appointment of new CEO
Schaumberg, IL-based communications technology manufacturer Motorola, Inc., today announced that its board of directors had unanimously elected Edward J. Zander to succeed Christopher B. Galvin as chairman and chief executive officer of the company.
16 Dec 2003 19:55
US trade deficit increases
The US international deficit in goods and services increased to $41.8 billion in October, from a $41.3 billion revised September figure, as imports increased more than exports, said the US Department of Commerce’s Census Bureau in a report.
15 Dec 2003 17:13
DOD announce awards
The fifth annual Defense Manufacturing Technology Achievement Award was presented to the Laser Additive Manufacturing and Laser Shock Peening (LSP) initiatives on Dec. 2 at the Defense Manufacturing Conference, Washington, D.C.
12 Dec 2003 16:23
DOD announce awards
The fifth annual Defense Manufacturing Technology Achievement Award was presented to the Laser Additive Manufacturing and Laser Shock Peening (LSP) initiatives on Dec. 2 at the Defense Manufacturing Conference, Washington, D.C.
12 Dec 2003 16:23
Caterpillar chairman and CEO to retire
Glen A. Barton, chairman and CEO of Caterpillar Inc., has elected to retire Jan. 31, 2004, after five years as chairman and chief executive officer.
11 Dec 2003 16:36
Thor Industries receives $225 million in orders
Jackson Center, OH-based Thor Industries, Inc., the largest manufacturer of recreation vehicles and mid-size buses, announced today that it received a record $225 million in orders last week.
10 Dec 2003 17:10
Tyson Foods, 3M, Otis Elevator announce layoffs
Tyson foods announced the closing of two meat-processing plants, while 3M and Otis Elevator also announced impending layoffs, affecting more than 1,000 workers combined.
08 Dec 2003 15:55
New orders, shipments, inventories increase
New orders for manufactured goods in October increased $7.3 billion, or 2.2 percent, to $341.2 billion, the US Department of Commerce’s Census Bureau reported today. Shipments and inventories also increased, said the report.
05 Dec 2003 19:07
Unemployment rate down, manufacturing job losses decline
The unemployment rate, at 5.9 percent, was slightly down from October’s rate of six percent, the Bureau of Labor Statistics of the US Department of Labor reported today.
05 Dec 2003 17:20
Jobless claims climb during Thanksgiving week
According to a report released today by the US Department of Labor, initial unemployment claims unexpectedly rose last week.
04 Dec 2003 14:22
President Bush lifts steel tariffs
President Bush lifted foreign steel tariffs today, prompting the European Union to drop their threat of heavy sanctions on US goods.
04 Dec 2003 22:15
Revised data shows increased productivity
The US Department of Labor’s Bureau of Labor Statistics today reported revised productivity data for the third quarter of 2003, showing an increased rise in manufacturing productivity.
03 Dec 2003 18:01
Construction spending up in October
According to a report released by the US Department of Commerce’s Census Bureau, spending on construction rose in October.
02 Dec 2003 17:05
PepsiCo to lay off 750, close Kentucky plant
Chicago-based PepsiCo, the world’s second-largest soft-drink manufacturer, announced today that it would eliminate approximately 750 jobs and close a Frito-Lay plant in Louisville, KY, as part of a reorganization plan.
02 Dec 2003 19:40
Boeing Chairman and CEO Philip M. Condit resigns
Philip M. Condit, chairman and chief executive officer of Chicago-based aerospace and defense giant Boeing, resigned unexpectedly today.
01 Dec 2003 16:39
ISM manufacturing report positive
According to the Institute for Supply Management’s Report On Business released today, economic activity in the manufacturing sector grew yet again in November, making it five consecutive months of growth.
01 Dec 2003 18:17
Charging ahead
If recent trends continue, the manufacturing sector may be the bellwether for an imminent economic recovery. According to the Institute for Supply Management's Report On Business, economic activity in the manufacturing sector grew again in October, the fourth consecutive month of growth. The overall economy grew for the 24th consecutive month.
01 Dec 2003 13:30
Layoffs may chill recovery
Despite other economic indicators that the economy may be on the road to recovery, layoffs continue to mount in the manufacturing sector.
01 Dec 2003 13:35
Senate tax-credit bill to help reservists, employers
When military reservists are called up for active duty, the companies they work for are deprived of employees— or even business owners or partners. Furthermore, companies often can’t afford to pay reservists their full salaries in their absence. The result: reservists' departures can have dire consequences for both businesses and their employees.
01 Dec 2003 13:21
State ergonomics rule repealed
A major statewide ergonomics rule was repealed by Washington State voters on Election Day—one more sign that ergonomics regulations are disappearing nationwide.
01 Dec 2003 13:26
Tyco to sell Global Network
Scandal-ridden conglomerate Tyco Inter-national announced a massive restructuring along with its fourth quarter numbers in November.
01 Dec 2003 13:39