Manufacturing news
May 2004
Bombardier reports loss, cuts jobs
Canadian aircraft manufacturer Bombardier Inc. announced that it would soon cut 500 more aircraft jobs in Canada as it slows production of its regional jets, said CEO Paul Tellier in May.
28 May 2004 18:57
Consumer confidence drops in May
US consumer confidence dropped in May for the second month in a row according to the University of Michigan consumer sentiment index. May’s final reading was 90.2, down from April’s reading of 94.2.
28 May 2004 16:30
Economy sees first quarter growth
The US gross domestic product, the measure by which output is gauged, expanded at a rate of 4.4 percent annual rate in the first quarter according to the Commerce Department.
27 May 2004 15:00
Flowers Foods returns to profit
Thomasville, GA-based Flowers Foods returned to a profit for its latest quarter, after a significant loss in the same quarter one year ago.
27 May 2004 21:47
Mass layoffs in manufacturing down in April
The manufacturing sector had 24 percent of all mass layoff events in April, the lowest recorded for any April since 1995, according to the US Department of Labor’s Bureau of Labor Statistics.
26 May 2004 16:29
Pentagon delays Boeing purchase
Secretary of Defense Donald Rumsfeld has delayed a decision whether to lease 100 KC-135 refueling tankers from Boeing.
26 May 2004 15:59
Heinz pours on the profits
H.J. Heinz Company reports revenues were up more than 6 percent to $2.3 billion for its fourth fiscal quarter. Earnings per share were 58 cents, meeting analyst forecasts.
25 May 2004 16:21
Medtronic earnings, sales rise
Minneapolis, MN-based medical equipment maker Medtronic reported earnings of $1.96 billion on sales of $9 billion in the fiscal year of 2004, compared with $1.6 billion on sales of $7.7 billion last year.
25 May 2004 17:22
Boeing reaches contract agreement
The Boeing Company announced today that the International Association of Machinists and Aerospace Workers District Lodge 837 has ratified the company’s newest three-year contract offer.
24 May 2004 15:32
Campbell’s Soup profits up
Camden, NJ-based Campbell Soup Company's profit rose 10 percent in its third fiscal quarter, the company reported today.
24 May 2004 17:38
Hormel heats up profits
Hormel Foods Corp. reported a significant earnings gain in second quarter results. Net earnings of $53.7 million were up 59 percent from second quarter earnings in 2003.
21 May 2004 15:11
Unemployment rates dropped in 29 states in April
Unemployment rates declined in more than half the states in April, the Bureau of Labor Statistics of the US Department of Labor reported today.
21 May 2004 17:43
Initial unemployment filings jump
In an unexpected increase, first-time unemployment filings shot up 12,000 to 345,000 for the week ending May 15, the US Department of Labor reported today.
20 May 2004 16:54
Navistar on the rise
Truck manufacturer Navistar International Corp. has reported quarterly earnings of $41 million compared with a net loss of $14 million in the same period last year.
20 May 2004 15:24
Goodyear reports decreased loss
The Goodyear Tire and Rubber Company, the world’s largest tire manufacturer, announced today it had lost $434.4 million in the fourth quarter of 2003, compared with a loss of $1.19 billion during the same period in 2002.
19 May 2004 16:07
Greenspan nominated for another term
President Bush formally announced his decision to nominate Alan Greenspan to another term as Federal Reserve chairman. The nomination, which will require Senate approval, is expected to meet little resistance.
19 May 2004 15:26
Mass layoffs down
Manufacturing industries accounted for 32 percent of private nonfarm layoff events in the first quarter of 2004, according to figures released today by the US Department of Labor’s Bureau of Labor Statistics.
18 May 2004 16:12
Boeing delivers 1,500th Next-Generation 737
Chicago, IL-based aerospace manufacturer Boeing’s Next-Generation 737 family reached 1,500 airplanes delivered, sooner than any other commercial airplane model ever.
17 May 2004 16:36
US production up for April
The Federal Reserve reports that production from US mines, utilities, and manufacturers rose by 0.8 percent in April. Manufacturing output alone increased 0.7 percent, its eighth consecutive monthly increase.
14 May 2004 14:44
Maxim drug combo shows promise
Maxim Pharmaceuticals claims a combination of its Ceplene drug plus interleukin-2 prevented acute myeloid leukemia relapse in an end-stage clinical trial.
13 May 2004 14:46
Unemployment filings up, manufacturing layoffs down in some states
First-time unemployment filings rose to 331,000 for the week ending May 8, up 13,000 from the previous week, reported the US Department of Labor today.
13 May 2004 15:32
Imports, exports up in March
Imports and exports grew as the trade deficit rose to a record high of $46 billion in March, reported the US Department of Commerce today.
12 May 2004 15:49
Levi Strauss & Co. explore sale of Dockers
Levi Strauss & Co. has announced that it is exploring the sale of its Dockers clothing business. After years of sliding sales company wide, Levi Strauss hopes to reduce a substantial amount of debt and be better able to revamp the Levi’s brand by letting go of the Dockers business.
12 May 2004 14:59
Lockheed Martin announces sale of COMSAT General
Lockheed Martin Corporation has announced that they will sell their COMSAT General business to Intelsat, Ltd., a worldwide provider of satellite communications services.
11 May 2004 14:59
Procter and Gamble buys out joint venture in China
Cincinnati, OH-based manufacturing giant Procter and Gamble announced today that it plans to buy out the remaining 20 percent of its Chinese joint venture from its partner, Hutchinson, for $1.8 billion.
11 May 2004 15:42
Armor Holdings announces $16.6 million US Army contract award
Jacksonville, FL-based military contractor Armor Holdings announced that it has received a $16.6 million contract award, under its contract with the US Army Tank-Automotive and Armaments Command, to supply additional fully armored Humvee vehicles through 2004 and into 2005.
10 May 2004 15:52
Bankruptcy expected for New World Pasta
Troubled pasta maker New World Pasta is expected to file Chapter 11 bankruptcy protection today.
10 May 2004 14:16
Manufacturing employment up, overall unemployment rate unchanged
There was a noteworthy job gain in durable goods manufacturing in April, but the overall unemployment rate was unchanged at 5.6 percent, the Bureau of Labor Statistics of the US Department of Labor reported today.
07 May 2004 15:42
Procter & Gamble announces record profits
Procter & Gamble recently announced double digit sales and earnings growth above and beyond the company’s long-term targets.
07 May 2004 15:53
Manufacturing productivity up
The US Department of Labor’s Bureau of Labor Statistics today released preliminary productivity data for the first quarter of 2004, reporting that productivity rose in manufacturing overall, with rises in both durable goods manufacturing and in nondurable goods manufacturing.
06 May 2004 16:54
Timken awarded $2.69 million US Air Force order
The Timken Company, the Canton, OH-based bearing and alloy steel supplier, was awarded its second delivery order, for $2.69 million, under an existing $20 million US Air Force contract for ball-bearing development.
05 May 2004 18:35
Commerce report: New orders, shipments up
New orders placed with factories in March for manufactured goods totaled $14.9 billion, up 4.3 percent from February, the US Department of Commerce reported today—the largest increase since July 2002, and a hopeful sign of the manufacturing sector’s ongoing economic recovery.
04 May 2004 18:05
ISM reports steady growth
The Institute for Supply Management today reported continuing growth in April, as economic activity grew in the manufacturing sector for the 10th straight month.
03 May 2004 18:49
DHB Industries opens new body armor manufacturing facility
Westbury, NY-based DHB Industries, the leader in the protective body armor manufacturing industry, announced that it has opened its third Florida facility in Pompano Beach, FL, to accommodate growth.
01 May 2004 15:33
Europe gets tough on food labels
Much more stringent European regulations on labeling food products that contain genetically modified ingredients went into effect in April, which may further hurt exports from the US food industry to Europe.
01 May 2004 16:19
Ex-Boeing employee pleads guilty to conspiracy
Darleen Druyun, a former Boeing employee and US Air Force acquisition official, pleaded guilty to conspiracy in April.
01 May 2004 15:32
Ford first-quarter profits doubled
Dearborn, MI-based Ford, the second-largest automaker in the United States and the third-largest worldwide, reported a first-quarter profit of $1.95 billion companywide, more than doubling its first-quarter profits of a year ago.
01 May 2004 15:34
India outsourcing to States
A major issue in the contentious presidential race is the outsourcing of US jobs to India, which has, for the most part, been a one-way street.
01 May 2004 16:18
Long-awaited manufacturing czar nominated
The Bush administration nominated Al Frink, owner of Santa Ana, CA-based carpet manufacturer Fabrica International, for assistant commerce secretary of manufacturing and services.
01 May 2004 16:20
McCormick reports record first quarter sales
The world’s leading spice maker, McCormick, reported record sales for the first quarter of 2004, the company announced in late March.
01 May 2004 15:31
New pension legislation signed into law in April
President George W. Bush signed legislation into law in April that aims to save employer sponsors of pension plans $80 billion over the next two years. The savings could provide much-needed help to several struggling industries.
01 May 2004 15:30
Ready for kick off
Jacksonville has been selected as the host city of Super Bowl XXXIX, and preparations are well underway for next February’s big game. Restaurants, bars, and hotels are getting ready to open their doors to an expected 100,000 visitors during the game weekend, and a regional host committee is recruiting 8,000 volunteers to make sure all those visitors have a positive experience.
01 May 2004 16:31
Smarter suitcases
Lost luggage could soon be a thing of the past at Jacksonville International Airport, which plans to introduce a baggage tracking system using radio-frequency identification (RFID) tags, at an estimated cost of up to $1 million.
01 May 2004 16:34
US files WTO complaint against Chinese semiconductor tax
The United States filed a complaint against Chinese trade practices at the World Trade Organization for what it claims are unfair taxes against foreign-made semiconductors.
01 May 2004 16:20