Boeing Cutting 4,500 Jobs

Aircraft maker Boeing, one of the few employers that added workers through the nationwide labor market downturn last year, announced Friday it will cut 4,500 jobs this year, undoing the employment gains it achieved in 2008. The job cuts in Boeing's Commercial Airplanes division will take employment in the unit back to 63,500, about where it stood a year ago. More

Daimler Remains Open to Selling Chrysler Stake

Daimler AG remains open to selling its remaining 19.9 percent stake in Chrysler LLC to Cerberus Capital Management LP but cannot predict whether an agreement will be reached, the German automaker's top executive said Sunday. More

MAPI Forecast for 2009 is 'Dismal'

As the U.S. remains the epicenter of the global economic crisis, a shell-shocked world begins a new year with a somber outlook, according to a new report, the "MAPI Quarterly Forecast of U.S. Exports, Global Growth, and the Dollar: First Quarter 2009 Through Fourth Quarter 2009." MAPI economist Cliff Waldman writes that data and forecasts through the end of 2008 reveal the bleakest global outlook in the post World War II era. More

BMW: Mini Convertable Has Better Potential Long Term

BMW Mini unveiled its new convertible model at the Detroit auto show on Sunday, but an executive said the vehicle's outlook was far brighter long-term than its short-term due to the economy. "It must be said that 2009 has not started out as the most optimistic of years and a convertible is one of the most feel-happy products out there," Mini USA vice president Jim McDowell told Reuters. "I think sales should pick up in the second half of the year." More

GM Delays Camaro Production By a Month

General Motors is delaying the launch of the Chevrolet Camaro sports car by a month, without explaining why. GM had scheduled the start of production of the redesigned 2010 model in Oshawa, Ontario, for Feb. 16. The date has been pushed back to March 16, Chevrolet spokesman Terry Rhadigan said. More

Have Steel Prices Bottomed Out? Makers Set to Raise Prices

In an early sign that some steel prices may have bottomed out, steelmakers in the U.S., China and some other countries are attempting limited price increases and reopening a handful of mills that were closed because of weak demand a few months ago. It isn't clear whether the price increases will stick, however. Steel sellers often announce price increases or special surcharges, only to relent in the face of customer opposition or if rivals don't follow suit. Nor is it clear whether the price increases reflect more demand or lower inventories. More

Obama Aides, Senate Dems Draw Closer on Stimulus

Senate Democrats and the incoming Obama administration moved closer Sunday to agreement on the outline of a massive economic stimulus plan, but it remained unclear whether Michigan lawmakers will succeed in including measures they say could help boost the state. Sen. Debbie Stabenow, D-Lansing, said she believed Obama advisers were considering additional incentives for manufacturing the equipment needed for solar and wind energy production in the United States. The plan transition aides have outlined includes several "green job" initiatives she has proposed, she said. "There's an understanding that we have to focus on manufacturing." More

The Promise of Wind

Using the wind to produce electricity has, for many decades, been little more than a footnote to energy production in the U.S. Wind turbines were something one dreamed about building while flipping through the back pages of Popular Mechanics. Even a few years back, wind was considered a minor power source, despite success stories in several European countries. But that’s all changed. In 2007, 35 percent of all the new electricity generation installed in the U.S. was wind. Its growth is second only to natural gas. Then in September 2008, the U.S. surpassed Germany to lead the world in wind energy production. With rising oil costs, improvements in turbine technology and a more stable public energy policy, U.S. wind energy production has doubled in just two years. More