Manufacturing news
December 2004
General Motors to recall more than 717,000 minivans
General Motors, the world’s largest automaker, plans to recall 717,302 minivans due to the potential for arm or wrist injuries when opening power sliding doors by using their interior door handles, according to the National Highway Traffic Safety Administration.
23 Dec 2004 17:11
Manufacturing mass layoffs up
The manufacturing sector had 29 percent of all mass layoff events, or 412 mass layoff events in total, as well as 34 percent of all initial unemployment claims filed in November, according to figures released today by the US Department of Labor’s Bureau of Labor Statistics.
23 Dec 2004 15:39
New orders up, shipments down
New orders for manufactured durable goods in November increased $3.1 billion, or 1.6 percent, to $198.9 billion, the US Department of Commerce reported today.
23 Dec 2004 15:50
Boeing signs 7E7 deal with Japan Airlines
Aerospace manufacturer Boeing today announced that it has signed a deal with Japan Airlines (JAL) to deliver them up to 50 7E7 Dreamliner passenger aircraft.
22 Dec 2004 17:55
Gross domestic product increases
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 four percent in the third quarter of 2004, according to figures released today by the Bureau of Economic Analysis.
22 Dec 2004 16:39
General Mills earnings up
Foods maker General Mills, the number-two maker of breakfast cereals in the United States, reported a rise in earnings in its most recent quarter to $367 million from $308 million during the same quarter a year ago.
21 Dec 2004 19:00
Unemployment rates little changed in November
Forty-seven states and the District of Columbia recorded changes in their jobless rates of 0.3 percentage point or less in November, the Bureau of Labor Statistics of the US Department of Labor reported today.
21 Dec 2004 16:52
General Dynamics awarded $267 million for Egyptian tank kits
The US Army has awarded General Dynamics Land Systems, a unit of defense contractor General Dynamics, a $267 million addition to a previously awarded contract to produce 125 M1A1 Abrams tank kits for the Egyptian tank co-production program.
20 Dec 2004 21:36
Leading index up 0.2 percent
New York-based research group The Conference Board announced today that the US leading index, used to predict the direction of the economy, increased 0.2 percent in November, following five consecutive monthly declines.
20 Dec 2004 17:51
Pfizer announces safety concerns over Celebrex
Drug manufacturer Pfizer announced that it has found an increased risk of heart attacks in a drug trial involving patients taking its painkiller Celebrex, but the company has not announced any plans to remove the drug from from the market.
17 Dec 2004 18:05
Steelcase posts third-quarter profit
Steelcase, the largest office furniture manufacturer in the world, posted a profit in its third-quarter numbers today, up from a significant loss during the same quarter last year.
17 Dec 2004 15:57
First-time unemployment filings drop sharply
Initial unemployment filings dropped by an impressive 43,000, to a total of 317,000, for the week ending December 11, the US Department of Labor reported today—the steepest decline in three years.
16 Dec 2004 17:46
Symantec to buy Veritas Software
Security software maker Symantec announced today that it would buy storage software maker Veritas Software for $13.5 billion.
16 Dec 2004 16:43
Merck to cut 5,100 jobs
Pharmaceutical maker Merck, on the heels of the recall of its flagship drug Vioxx, announced that it will cut about 5,100 jobs by the end of 2004, and will cut its costs by $2.4 billion over the next four years.
15 Dec 2004 20:53
Terra Nostra Technology signs deal with Chinese copper company
Biochemical manufacturer Terra Nostra Technology today announced that it has entered into a joint venture agreement with Chinese copper producer Shandong Jinpeng Copper, in which Terra Nostra will become a 51-percent partner in a joint venture company.
15 Dec 2004 16:29
Manufacturer profits, sales up in third quarter
After-tax profits of US manufacturing corporations were $88.2 billion in the third quarter of 2004, up $5.5 billion from the second quarter, the US Department of Commerce reported.
14 Dec 2004 17:31
Trade deficit hits record high
The foreign trade deficit in October was $55.5 billion, the highest ever, up 8.9 percent from September, while the deficit with China also climbed to a new high.
14 Dec 2004 17:31
Oracle to acquire PeopleSoft for $10.3 billion
Business software maker PeopleSoft today announced that, following discussions throughout the weekend, its board of directors has approved a merger agreement under which a subsidiary of its rival, Oracle, will acquire all PeopleSoft shares for approximately $10.3 billion.
13 Dec 2004 17:51
Ford recalls 474,000 SUVs
Big Three automaker Ford announced today that it is recalling approximately 474,000 Ford Escape SUVs worldwide due to a potentially dangerous accelerator problem.
10 Dec 2004 22:01
Initial unemployment filings up by 8,000
First-time unemployment filings shot up by 8,000 to 357,000 for the week ending December 4, the US Department of Labor reported today.
09 Dec 2004 15:22
Wholesale inventories, sales up
Wholesale inventories in October 2004 were $323.1 billion, up 1.1 percent from September and up 10.6 percent from one year ago, according to figures released today by the US Department of Commerce.
09 Dec 2004 20:54
Lenovo Group to acquire IBM personal computing division
Chinese personal computer manufacturer Lenovo Group and US PC maker IBM announced an agreement under which Lenovo will acquire IBM's PC division to form the world's third-largest PC business.
08 Dec 2004 15:48
Manufacturing job openings up, hirings down
Job openings increased and hirings fell in the manufacturing sector in October, according to figures released by the US Department of Labor today.
08 Dec 2004 21:11
Avanex outsources to Asia
The cost of labor has forced photonics company Avanex to announce plans to outsource most of its manufacturing operations to Asia.
07 Dec 2004 20:43
Tax reform proposal to help Florida manufacturers
Florida Governor Jeb Bush has proposed tax cuts to save manufacturers in the Sunshine State up to $66 million annually.
06 Dec 2004 17:11
Dreamliner fuselage assembly goes to South Carolina
Two international aerostructures manufacturers are forming a new company to supply integrated fuselage structures for Boeing’s 7E7 Dreamliner.
03 Dec 2004 14:51
Kellogg chief nominated for Commerce Secretary
Carlos Gutierrez, chief executive of the Kellogg Company, has been nominated by President Bush as the new Secretary of Commerce following the resignation on November 9 of former secretary Donald Evans.
02 Dec 2004 21:17
New workers contract ratified at Detroit Diesel
United Auto Workers members at DaimlerChrysler's Detroit Diesel plant in Redford, MI, have ratified a new contract that includes signing bonuses, improved benefits and more engine work.
02 Dec 2004 21:11
Boeing confirms 7E7 sales to Primaris Airlines
Aerospace manufacturer Boeing confirmed that Primaris Airlines has chosen the Boeing 7E7-8 Dreamliner and the 737-800 for the new airlines’ future fleet development.
01 Dec 2004 17:56
Kellogg chief to take top trade post
Carlos Gutierrez, chief executive of the Kellogg Company, has been nominated by President Bush as the new Secretary of Commerce following the resignation on November 9 of former secretary Donald Evans.
01 Dec 2004 17:57
TRW opens steering wheel plant in Romania
Auto parts manufacturer TRW Automotive announced the opening of its first plant in Romania, a steering wheel manufacturing site employing 250 people in a 23,000-square-foot facility.
01 Dec 2004 17:56
UAW and Detroit Diesel agree
United Auto Workers members at DaimlerChrysler’s Detroit Diesel plant in Redford, MI, have ratified a new contract that includes signing bonuses, improved benefits and more engine work.
01 Dec 2004 17:57