Manufacturing news
February 2004
DoJ blocks Oracle bid
Enterprise software specialist Peoplesoft has welcomed a decision today from the Antitrust Division of the Department of Justice to block an unwelcome takeover bid from rival Oracle.
27 Feb 2004 14:35
Evans announces MEP eligibility for $45.4 million in federal grants
Following the recent uproar from manufacturers following the recent cut in funding from the Manufacturing Extension Partnership (MEP) program, US Secretary of Commerce Donald Evans announced, during budget hearing testimony before Congress, that MEP will soon be eligible to compete for up to $45.4 million in economic adjustment assistance grants.
27 Feb 2004 16:56
Following plunge, unemployment claims rise
After an impressive decrease for the week ending February 14, initial unemployment claims rose again for the week ending February 21.
26 Feb 2004 17:56
New orders and shipments of manufactured durable goods down
The US Department of Commerce’s Census Bureau today reported decreases in new orders and shipments of manufactured durable goods in January.
26 Feb 2004 17:40
Mass layoffs up in January; 35 percent in manufacturing
There were 2,428 mass layoff actions by employers in January, 35 percent of which were in the manufacturing sector, according to a report released today by the US Department of Labor’s Bureau of Labor Statistics.
25 Feb 2004 19:28
US Army cancels $39 billion Comanche helicopter program
The US Army announced the cancellation of the $39 billion RAH-66 Comanche reconnaissance and attack helicopter program under development by the Chicago, IL-based aerospace giant Boeing and the Bridgeport, CT-based Sikorsky aircraft division of United Technologies.
24 Feb 2004 19:26
Boeing awards $15 million contract to Goodrich
Aerospace systems supplier Goodrich Corporation has been selected by aerospace giant Boeing to provide laser altimeters for their X-45 Joint-Unmanned Combat Air Systems.
23 Feb 2004 21:26
Coca-Cola chairman and CEO resigns
The Coca-Cola Company, the world’s largest beverage company, announced the retirement of its chairman and chief executive officer, Douglas N. Daft, the latest in a string of resignations at the company.
20 Feb 2004 16:17
Lockheed Martin receives $505 million for Patriot missile production
Bethesda, MD-based military contractor Lockheed Martin has received production contracts from the US Army totaling $505 million for Patriot missiles and support equipment.
20 Feb 2004 22:15
First-time unemployment filings plunge
Nationwide first-time unemployment claims for the week ending February 14 dropped to 344,000, down 24,000 from the previous week's revised figure of 368,000, the US Department of Labor reported today.
19 Feb 2004 20:01
White House officials decline to endorse jobs forecast
Two members of the Bush cabinet declined to endorse a forecast made in a White House report earlier this month, which predicted that 2.6 million jobs would be created in 2004.
18 Feb 2004 20:08
Manufacturing output up again in January
Manufacturing output increased 0.3 percent in January—its fifth monthly rise in a row—while overall industrial production rose 0.8 percent, according to a report released today by the Federal Reserve.
17 Feb 2004 18:32
Trade deficit increases by $4.1 billion in December
The US Census Bureau and the US Bureau of Economic Analysis, through the Department of Commerce, announced today that total December exports and imports resulted in a goods and services deficit of $42.5 billion, $4.1 billion more than the $38.4 billion in November.
13 Feb 2004 17:37
Mass manufacturing layoffs down
Manufacturing industries accounted for 26 percent of private-sector layoff events during the fourth quarter of 2003, according to preliminary figures released by the US Department of Labor’s Bureau of Labor Statistics.
12 Feb 2004 17:42
Goodrich awarded $1.4 million NASA contract
Goodrich Corporation has been awarded a contract from NASA to supply an integral, high-temperature composite steering-control surface to be tested on a reusable launch vehicle.
11 Feb 2004 20:20
GM announces third major recall since January
In its second major recall announcement in four days, and its third in the last month, General Motors announced that it will recall 636,000 SUVs due to a faulty windshield-wiper module allowing water leaks that could damage electronics.
10 Feb 2004 19:09
White House forecasts the creation of 2.6 million jobs in 2004
According to the annual Economic Report of the President, prepared by the US Council of Economic Advisers and released today, the White House expects the creation of some 2.6 million jobs in the United States during 2004.
09 Feb 2004 19:19
GM recalls 1.8 million cars
General Motors announced today that it was recalling 1.8 million cars due to an ignition-system problem that could potentially start a fire.
06 Feb 2004 20:06
Overall employment rises in January, manufacturing employment edges down
Employment rose in January, but the unemployment rate, at 5.6 percent, was little changed from December’s unemployment rate of 5.7 percent, the Bureau of Labor Statistics of the US Department of Labor reported today.
06 Feb 2004 16:45
Engineered Support Systems receives $13.6 million generator set order from US Army
St. Louis, MO-based military equipment maker Engineered Support Systems, Inc., has received an order totaling $13.6 million from the US Army for the production of lightweight low-noise generator sets.
05 Feb 2004 19:59
Initial unemployment filings jump
356,000 people filed first-time unemployment claims for the week ending January 31, up 17,000 from the previous week's revised figure of 339,000, the US Department of Labor reported today.
05 Feb 2004 19:44
Metropolitan-area manufacturing employment down in 2003
Manufacturing remained the weakest industry in metropolitan areas in 2003, with 208 of 272 US metropolitan areas experiencing employment losses over the year, the Bureau of Labor Statistics of the US Department of Labor reported today.
04 Feb 2004 17:54
New orders, shipments up slightly
New orders for manufactured goods in December increased $3.7 billion, or 1.1 percent, to $342.4 billion, the US Department of Commerce’s Census Bureau reported today.
04 Feb 2004 20:15
Tyco International first-quarter revenues up
Tyco International, the scandal-beseiged manufacturing conglomerate, reported first-quarter increases in revenue and income from continuing operations today.
03 Feb 2004 16:40
Dow reports record sales, return to profit
Midland, MI-based chemicals group Dow Chemical reported record sales and a return to profit in 2003, despite a 33 percent increase in materials and energy costs.
02 Feb 2004 22:12
ISM report: another month of growth
In January, economic activity in the manufacturing sector grew yet again, making it seven consecutive months of growth, and the overall economy grew for the 27th consecutive month, according to the ISM's Report On Business released today.
02 Feb 2004 17:13
CAFTA trade agreement finalized
The Central American Free Trade Agreement (CAFTA), which aims to break down trade barriers between the US and several Central American countries, was finalized in December. The agreement affects trade between the US and Nicaragua, Honduras, El Salvador and Guatemala.
01 Feb 2004 17:42
Economic indicators: High and mighty
Economic activity in the manufacturing sector grew again in December, for a total of six consecutive months of growth, while the overall economy grew for the 26th consecutive month, according to the ISM’s Report On Business released last month. The New Orders Index reading was the highest since July 1950.
01 Feb 2004 17:45
Evans unveils manufacturing policy recommendations
US Secretary of Commerce Donald Evans unveiled a major report in January, outlining recommendations for the Bush administration’s manufacturing policy goals and strategies.
01 Feb 2004 17:41
General Motors recalls 824,000 cars
General Motors, the world’s largest automaker, announced today that it was recalling 824,000 cars manufactured in 1996 and 1997 to repair a potential problem with their power steering systems.
01 Feb 2004 17:44
Steel manufacturers hurt by nationwide coke shortage
The American steel industry suffered a blow recently when the Bush administration lifted tariffs on imported steel in December, paving the way for an influx of inexpensive imported steel. But a new specter is haunting the steel industry: a crippling global coke shortage.
01 Feb 2004 17:46