Manufacturing Index Shows Improvement
from Industry Week
The Manufacturers Alliance/MAPI June 2009 composite index rose to 24 from an historic low of 21 reported in the March 2009. The index indicates that overall manufacturing activity is expected to contract over the next three to six months. While the index is at its second lowest level since the survey originated in March 1972, it marks the first time it has shown improvement since June 2007. More
Harley-Davidson Cuts 1,000 Jobs
from Industry Week
Harley-Davidson Inc. will cut an additional 1,000 jobs after profit plunged 91percent in the second quarter from the previous-year period, the company said. The layoffs are in addition to a previous workforce reduction of approximately 1,500 employees earlier in the year. Included in the layoffs are about 300 salaried positions. More
Heuck: Porsche Workers Will Fight Takeover by VW
Uwe Hueck, head of Porsche SE's workers' council, said staff will fight the takeover of the sports-car maker by Volkswagen AG, Bild am Sonntag reported. Hueck, also Porsche's deputy chairman, said in an interview that the deal would endanger 11,000 jobs and that "you can't build a Porsche with Polo parts."
Lufkin Industries Second Quarter Profit Tumbles
Lufkin Industries Inc. said its second-quarter profit plunged 79 percent, blaming a drop in commodity prices and a depressed overall economy. The oilfield services and equipment company earned $4.5 million, or 30 cents per share, down from $21.2 million, or $1.42 per share, for the same quarter last year.
Nordex to Begin Building Plant in Jonesboro, Ark.
from Reliable Plant
Nordex USA Inc., a leading manufacturer of wind turbines, announced that it will begin construction this week on its first U.S. manufacturing plant in Jonesboro, Ark. The announcement comes after a decision by the supervisory board of the parent company, Nordex AG. "After much careful planning, we are eager to break ground and make the plant a reality," said Ralf Sigrist, president and CEO of Nordex USA. "The plant is critical to our goal of generating 20 percent of global revenue in the U.S., and I must say I am extremely pleased that construction will begin on schedule."
War of Words Erupts Over F-35 Engines
from Aviation Week
The future of the Joint Strike Fighter alternate engine program reaches a critical juncture this week when the U.S. Senate is expected to vote on whether to follow through on its earmarking for the General Electric Rolls-Royce F136 in the 2010 defense budget. The second F135-powered F-35B flew for a second time on July 13. If it survives, the first F136-powered F-35 will not fly for at least two years.
Chrysler Rips 'For Sale' Sign off Dodge Viper Business
The Dodge Viper has received a reprieve. After nearly a year of trying to sell the iconic sports car business, Chrysler said Friday it will continue to build the Viper SRT10. Production was expected to end at the Connor Avenue Assembly Plant in Detroit, known as the "Snake Pit," in December. But the new Chrysler has reversed its decision after a review of the company’s products, and top executives found the Viper to be a viable business going forward. The current lineup, including the ACR and competition versions, will continue.
Study Suggests Wind Power Potential Much Higher Than Current Estimates
from The New York Times
Global wind energy potential is considerably higher than previous estimates by both wind industry groups and government agencies, according to a Harvard University study published last week in the Proceedings of the National Academy of Sciences of the United States. The new research surfaced just weeks after T. Boone Pickens, citing rising financing costs, scaled back his plans for the world’s largest wind farm in west Texas.