Visit our Filed page for categories. To browse by specific topic, see our Inside page. For a list of companies covered on this site, visit our Companies page.
From The Wall Street Journal | The chief financial officer of European Aeronautic Defence & Space Co. (EADS) said Wednesday that Airbus and EADS must do a better job of putting a price tag on the risks inherent in their airplane programs. Airbus, the longtime rival of Chicago-based Boeing Co., must deal with the fact that two of biggest programs — the A380 superjumbo jetliner and the A400M military transport plane — are years behind schedule.
Get the full story: wsj.com.
Associated Press | Deere & Co. has announced it will invest
about $100 million to modernize the John Deere Foundry in Waterloo,
Iowa. According to Deere, the modernization work will take place over
the next 4 to 5 years. The project will allow the heavy equipment maker
to improve manufacturing capacity and flexibility.
Reuters | Navistar International Corp. posted higher quarterly earnings Wednesday as several one-time tax benefits helped the maker of engines and vehicles offset what it characterized as tough market conditions.
Navistar reported a profit of $30 million, or 42 cents a share, for the second quarter ended on April 30, up from $12 million, or 16 cents a share, a year earlier. Sales fell 2 percent to $2.74 billion. The results included value added tax recoveries of $30 million for Navistar’s truck segment and $12 million for its engine segment in Brazil.
Associated Press | Lake Forest-based Solo Cup Co., which makes single-serving food and beverage containers,
said Tuesday that it will close three factories, eliminating 1,240 jobs,
because of growing capacity at its 10 other North American plants.
The company plans to shutter factories in North Andover, Mass., and
Springfield, Mo., in mid- to late 2011, and a plant in Owings Mills,
Md., in mid-2012.
By Wailin Wong |
Motorola Inc. said Tuesday that it has completed one debt buyback of
$138 million and increased the size of its repurchase program to $500
million from $400 million.
In late May, Schaumburg-based Motorola announced it had launched two
offers to buy back up to $400 million in outstanding debt. One, which
involves bonds due in 2097, expired Monday. The $138 million tendered by
bondholders in the offer represents about 55 percent of the $252
million outstanding in the 2097 series.
By Kathy Bergen |
The demise of the 72-year-old Mercury brand may lead to the closing of
some dealerships in major markets but will not alter Ford Motor Co.’s
expectation for solid profitability this year and next, Alan Mulally,
Ford’s chief executive, said in Chicago Tuesday.
“We have a few too many dealers in the larger metro areas,” Mulally told
reporters immediately after his keynote address at the Chicagoland
Chamber of Commerce annual meeting, which drew 1,400 business people.
Associated Press | Heavy equipment maker Caterpillar Inc. says its long-term profit goals
won’t change when Doug Oberhelman takes over as CEO this summer. The
Peoria, Ill.-based company released an updated version of its strategic
plan Tuesday that calls for the firm to focus on its customers’ needs.
By Joseph Ruzich | Just
two weeks after Navistar International Corp. decided to scrap plans for
a new corporate headquarters in west suburban Lisle, hundreds of people
– most supporting the company’s original plan to relocate to Lisle –
came out Monday night to urge village officials to renew talks with the
engine manufacturer.
Associated Press | A northern Indiana cargo trailer maker says
it may close its plant in the city of Middlebury — a move that would
cost 150 workers their jobs. Illinois-based Pace American Inc. notified
the state of the possible closing late last week, saying it is in the
process of selling its business operations and assets.
Eric Gershon/The Hartford Courant | Boeing will seek a contract to build the next U.S. Presidential
helicopter, Marine One, which means Sikorsky Aircraft must again compete
to keep work it’s had for decades.
Boeing said Monday it has licensed an AgustaWestland medium-lift
helicopter to offer against an entry from Sikorsky Aircraft and Lockheed
Martin, which are working as a team.
Associated Press | Negotiations between Boeing Co. and its striking aircraft workers in
Long Beach, Calif., entered their second day Friday in a federally mediated push
to end a nearly monthlong walkout.
Associated Press | Auto parts supplier Tenneco Inc. said Friday that it has reached a deal
with lenders to raise some of its credit lines and extend their terms.
The Lake Forest company said its $550 million revolving credit facility
will rise to $622 million until March 16, 2012, when $66 million worth
of commitments from other lenders expire. After that, the revolver will
total $556 million and mature on May 31, 2014, the company said in a
statement.
From Investor’s Business Daily | Lake Forest-based auto parts maker Tenneco fell five percent during brisk early morning trading, along with the major indexes, which tumbled after news of a weaker-than-expected jobs report.
Get the full story: investors.com.
Reuters | Boeing Co. is likely to bid in the U.S. Air Force refueling plane competition, but its goal is not simply to underbid rival EADS, which could have an advantage because it receives government subsidies, Boeing’s Chief Executive said on Thursday.
“This can be a dangerous situation for Boeing. We have to bid responsibly,” James McNerney said on a webcast of an analyst conference.
Chicago Daily Herald | What’s left of Hartmarx Corp. has reached a deal with secured creditors that will raise $750,000 in cash while releasing $2.25 million set aside for professional fees.
The former men’s clothier has been in Chapter 11 for nearly 18 months.
Read the full story: dailyherald.com
