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Boeing puts 747-8, its largest plane ever, in air

747.jpg

Spectators gather to watch the new Boeing 747-8 freighter during taxi tests for the new airplane on Saturday. (AP Photo/Seattlepi.com, Joshua Trujillo)

Associated Press | Boeing Co.’s giant 747-8 freighter — the biggest plane the company has
ever built — took off on its first flight Monday, a year later than
originally planned.

The huge plane took off from Everett’s Paine Field after a weather
delay. It was to land later in the day at Seattle’s Boeing Field.

Hundreds of employees and other airplane fans gathered to watch the
plane take to the air. The flight came just one day short of the 41st
anniversary of the first flight of the original 747 model.

See also
• Photos: Building Boeing’s biggest plane
•  Body found in landing gear hold on NYC-Tokyo flight

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Caterpillar to join FutureGen push

By Mary Ellen Podmolik | Peoria-based Caterpillar Inc., said it would join the FutureGen
Alliance, a public-private partnership dedicated to constructing a
coal-fired, near-zero emissions power plant in downstate Mattoon.

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Pactiv’s Hefty bags dropped by Wal-Mart

Crain’s Chicago Business reports | Hefty bags, made by Lake Forest-based Pactiv Corp., have been pulled from shelves at Wal-Mart, as the world’s largest retailer streamlines its brand selections.

Read the full story: chicagobusiness.com

Boeing gets incentives for South Carolina 787 plant

From The State in South Carolina | Boeing Co. has reached an agreement with the state of South Carolina on an incentives package for a $750 million Dreamliner plant in North Charleston. Boeing agree to employ 6,000 workers by 2016.

Read the full story: thestate.com

Boeing gets 10 orders in January

Associated Press | Boeing Co. reports 10 new aircraft orders for January, all of them for Ethiopian Airlines.

The Chicago-based aircraft maker says the order for its 737-800 planes came in on Jan. 12. About two weeks after the order came in, that airline lost the same type of aircraft in a crash off the coast of Lebanon.

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Tenneco swings to profit after 2 years

Dow Jones Newswires | Tenneco Inc. swung to a fourth-quarter profit on steep prior-year charges as the auto parts maker also benefited from cost cutting and reported higher sales for the first time in nearly two years.

Lake Forest-based Tenneco, which makes shock absorbers, suspensions and manifolds, posted a profit of $17 million, or 32 cents a share, compared with a year-earlier loss of $298 million, or $6.40 a share. The latest quarter included a net 19 cents in gains.

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GATX adds $250 in debt

From Reuters: Railcar lessor GATX Corp. has sold $250 million in five-year senior notes.

Read to full story: reuters.com

Jury slaps Caterpillar with $56M verdict

From the San Antonio News-Express: A jury awarded more than $56 million in damages to a Texas man who was paralyzed below the waist in an accident involving an earth-moving tractor made by Caterpillar Inc.

Read the full story: mysanantonio.com

Navistar being courted by Ft. Wayne

From the Ft. Wayne Journal-Gazette: The mayor of Ft. Wayne, Ind. met with a Navistar official in an attempt to woo the company which is currently making plans to move 800 workers to a new truck design facility in Lisle.

Read the full story: journalgazette.com

Brunswick to close boat plant

From Business Week: Lake Forest-based Brunswick Corp. said it will close an aluminum boat plant and cut jobs in Little Falls, Minn. as it tries to restructure its boat unit operations.

Read full story: businessweek.com

Whirlpool doubles profit in fourth-quarter


whirlpool.jpgAssociated Press
| Whirlpool Corp.’s cost-cutting and big sales gains in Asia and Latin America helped it more than double its fourth-quarter profit, the company said this morning. The world’s largest home appliance maker also said in its 2010 outlook it is starting to see signs of business improving in North America.

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ADM profit falls on weaker prices

Dow Jones Newswires | Archer Daniels Midland Co.’s fiscal second-quarter earnings fell 1.9 percent amid investment gains and weaker prices, though the company’s sales volumes were up and its ethanol business returned to a profit.

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Alberto-Culver profit up 16%

Dow Jones Newswires | Alberto-Culver Co.’s fiscal first-quarter earnings rose 16 percent amid
lower commodity costs, although the maker of hair-care and personal
products said the hair-care business remains weak.

The company also raised its quarterly dividend 13 percent to 8.5 cents a share.

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Kraft CEO says job fears at Cadbury not warranted

The London Express & Star reports: Kraft CEO Irene Rosenfled said she expects the Northfield-based food giant’s $19 billion acquisition of Cadbury to create UK manufacturing jobs. She said concerns by British unions are “overstated.”

Read the full story: expressandstar.com

Smurfit Stone details plan to exit bankruptcy

Reuters reports: Chicago-based container and packaging company Smurfit Stone plans to raise $1.85 billion in debt financing to support its exit from bankruptcy planned for April.

Read the full story at reuters.com