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GM generates $3.3 billion in cash, will start repaying loans Blooomberg Share     General Motors Co., signaling confidence in its recovery from bankruptcy, said it generated $3.3 billion in cash in the third quarter and plans to start repaying government loans early. The biggest U.S. automaker said today it lost $1.15 billion after its July 10 exit from a restructuring engineered by the Obama administration. More
Analysts predict slow but steady uptick in manufacturing Biz Times Manufacturing Weekly Share
Manufacturing and transportation companies have seen falling order levels flatten out over the last six months and some sectors can expect a limited recovery in 2010, according to several analysts with Milwaukee-based Robert W. Baird & Co. that cover those sectors. More Car orders not lifing auto jobs The Detroit Free Press Share
The hundreds of millions of dollars the federal government spent to buy thousands of vehicles from metro Detroit's three automakers under the $787-billion federal stimulus act didn't retain or keep a single job, a Free Press analysis shows. More Defense Production Act spending to increase Aviation Week Share
The Congressional Budget Office (CBO), Capitol Hill's nonpartisan green eyeshaded experts, believe Washington will continue to boost funding for purchases, loans and other activities under the Defense Production Act, from $150 million in 2010 to $300 million by 2014. More
Retail sales rise in October, boosted by auto sales USA Today Share
Sales at retailers rose more than expected in October, boosted largely by auto sales, but the previous month's figures were revised sharply downward. In a report that points to a gradual improvement in spending, the Commerce Department said retail sales rose 1.4 percent last month, largest advance since August, after dropping a revised 2.3 percent in September. Sales in September were previously reported as declining 1.5 percent. More Ford says UAW disputes at Missouri plant resolved Reuters Share
Ford Motor Co. and the United Auto Workers have resolved disputes over work issues at a Missouri plant that prompted workers to hold a strike authorization vote, a Ford spokeswoman said. A team of senior Ford executives, national UAW leaders and leaders from UAW Local 249 reached agreement to resolve the concerns raised by local members and the matter has been closed, Ford spokeswoman Marcey Evans said. More John McCain: Unions to blame for auto bailouts; Chrysler unlikely to survive MLive.com Share
While General Motors says it may be able to pay back the federal government by 2012, Arizona Sen John McCain has a less optimistic outlook for Chrysler: Eventual failure. McCain said that the federal government never should have bailed out either automaker, according to the Detroit News. "We should have let them go into bankruptcy, emerge and become viable corporations again," he said. More Grant money available to Wisconsin manufacturers Industry Week Share
Small and midsize manufacturers in Wisconsin are eligible for up to $6,000 in grant funds to improve performance and stimulate growth as the economy recovers from the recession, the Wisconsin Manufacturing Extension Partnership said. The grants authorized by the Commerce Department are targeted to small and midsize manufacturers with less than 500 employees. More |
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