The Leading Source for Industrial Distribution News
Boeing Puts A Three-Week Hold On 787 Assembly
December 7, 2010 4:15 am | News | CommentsCHICAGO (AP) — Boeing Co. puts a three-week hold on assembling new 787s. Boeing said on Monday that the hold began late last month. It says it is not asking the companies that make parts for the 787 to slow or stop production. The latest delay comes as Boeing deals with the aftermath of an electrical fire during a test flight last month.
Union, Pratt & Whitney Agree On Pact To Close Plants
December 6, 2010 4:26 am | News | CommentsWALLINGFORD, Connecticut (AP) — Members of the Machinists union have overwhelmingly ratified a new contract with jet engine maker Pratt & Whitney that allows the company to shut two plants it has targeted for more than a year, while preserving jobs insisted on by the union. Workers voted 2,609-198 Sunday to accept the pact with the subsidiary of United Technologies Corp.
October Factory Orders Reflect Drop In Demand
December 6, 2010 4:25 am | by Martin Crutsinger, AP Economics Writer | News | CommentsWASHINGTON (AP) — Orders to U.S. factories fell in October by the largest amount in five months, reflecting a big drop in demand for aircraft. Factory orders declined 0.9 percent in October, the Commerce Department reported Friday. It was the first setback since June and the biggest decline since a 1.
Americans Want Their Voices Heard On Economic Issues
December 6, 2010 4:24 am | by Calvin Woodard, Associated Press | News | CommentsWASHINGTON (AP) — It seems Washington is all ears these days. President Barack Obama says he'll take a great idea to fix the economy anywhere he hears it. The Republican leaders in Congress can't say enough how determined they are to "listen to the American people." OK. Here goes.
Unemployment Stats Paint Sobering Picture
December 3, 2010 9:21 am | Videos | CommentsThe U.S. jobless rate in November rose 0.2 percentage point from the previous month to 9.8 percent, the highest level since April, when it stood at 9.9 percent. The results are likely to rouse concerns about the prospects for the U.S. economy and put President Barack Obama in the hot seat as he has kept saying that job creation is one of his top priorities.
White House Calls On Congress To Extend Unemployment Insurance
December 3, 2010 3:43 am | News | CommentsWASHINGTON (AP) — The White House is stepping up its push for Congress to extend unemployment insurance for out-of-work Americans, linking the benefits to an extension of expiring Bush-era tax cuts. President Barack Obama's Council of Economic Advisers on Thursday reported that if Congress does not extend the benefits, two million unemployed workers will lose coverage this month and 7 million would lose coverage by November 2011.
Jobless Rate Rises To Highest Level Since April
December 3, 2010 3:41 am | News | CommentsWASHINGTON — The U.S. unemployment rate in November rose 0.2 percentage point from the previous month to 9.8 percent, the highest level since April, while U.S. employers created a smaller-than-expected 39,000 nonfarm jobs for the second straight month of growth, the Labor Department said Friday.
Industry Execs: Automotive Industry In Recovery
December 2, 2010 3:37 am | by Sharon Silke Carty, AP Auto Writer | News | CommentsDETROIT (AP) — After a year of watching auto sales slowly increase month by month, industry executives are finally willing to firmly declare that the U.S. market is in recovery. People who had been too afraid to make a big car purchase are finally coming back to dealerships, a little more confident that they won't lose their jobs.
Economy Showing Signs Of Life As Year Winds Down
December 2, 2010 3:36 am | by Christopher S. Rugaber, AP Economics Writer | News | CommentsWASHINGTON (AP) — The economy is showing new life in the final months of the year. Factories are busier, construction spending is up, and auto sales are rising. And on Wednesday the stock market had its best day since September after a report that the private sector hired the most workers in three years.
Delaware Supreme Court Sides With Airgas In Air Products Dispute
December 1, 2010 4:31 am | by Randall Chase, AP Business Writer | News | CommentsDOVER, Del. (AP) — The Delaware Supreme Court has rejected a bid by industrial gas supplier Air Products and Chemicals Inc. to shake up the board of rival takeover target Airgas Inc. Air Products, whose tender offers have been repeatedly rebuffed by Airgas' board as undervaluing the company, got three directors elected to the nine-member board in a September proxy contest.
DXP Acquires D&F Distributors For $13.4 Million
December 1, 2010 4:28 am | News | CommentsHOUSTON, Tex. -- DXP Enterprises, Inc. recently the signing of a definitive agreement to acquire substantially all the assets of D&F Distributors, Inc. The acquisition is expected to close effective November 30, 2010. The purchase price of $13.4 million is estimated to consist of approximately $7.
Kaman's Aerospace Group Secures A $25M Purchase Order
December 1, 2010 4:25 am | News | CommentsBLOOMFIELD, Conn. -- Kaman Corporation recently announced that its Aerospace segment has been awarded a commercial sale purchase order for Joint Programmable Fuzes (JPF) in the amount of $25 million for an undisclosed customer. Delivery of these fuzes is anticipated to occur in 2011. "The JPF has proven to provide the high reliability and operational flexibility that is critical to the U.
Aircraft Parts Supplier TransDign Buys Telair's Actuation Unit
December 1, 2010 4:22 am | News | CommentsCLEVELAND (AP) — Aircraft parts supplier TransDigm Group Inc. said Monday that it has agreed to buy the Actuation business of Telair International Inc. for about $94 million in cash. The deal, subject to antitrust approvals, is expected to close by the end of the year. Actuation, located near Los Angeles, makes electromechanical products and other components for commercial and military aircraft.
Analysts: Cutting Jobless Benefits Could Derail Economy
December 1, 2010 4:20 am | by Paul Wiseman, AP Economics Writer | News | CommentsWASHINGTON (AP) — If Congress lets unemployment benefits expire this week for the long-term unemployed, they won't be the only ones to feel the pain. The overall economy would suffer, too. Unemployment benefits help drive the economy because the jobless tend to spend every dollar they get, pumping cash into businesses.
Fiscal Responsibility Is A Double-Edged Sword
November 30, 2010 11:01 am | by Mike Schmidt, Associate Editor, Manufacturing Business Technology | Articles | CommentsWhen it comes to spending money, a prudent approach is a wise approach. But it’s when we allow fear and doubt about our financial future to creep into our minds that we prevent ourselves from seizing opportunities, leaving us unable to act in the best interests of ourselves, or our families, and/or our business enterprises.
How Haphazard Product Data Management Strategies Hurt Sales
November 30, 2010 10:00 am | by Eric Russell, SharePoint Practice Director, Catapult Systems | Articles | CommentsCompanies must have a clearly defined data distribution and management plan to help ensure that accurate product information reaches their prospects and customers when and where they need it. Fast growing electronic marketplaces, social networks, and mobile applications are changing the way people research, recommend, purchase, use, and maintain products.
The Economy Isn't In Recovery
November 30, 2010 6:18 am | Videos | CommentsDavid Stockman, President Ronald Reagan's Budget Director, says the U.S. economy is not in a state of recovery. Massive debt creation in the public and household sectors has resulted in the United States 'living beyond (its) means," says Stockman. As a result, Stockman states, the United States has not fully recovered from the Great Recession.
Fiat Agrees To Supply Vehicles To Opel
November 30, 2010 4:51 am | News | CommentsMILAN (AP) — Fiat Group Automobiles SpA has agreed to supply the German automaker Adam Opel GmbH with at least 250,000 commercial vehicles beginning next year. Fiat said in a statement Monday that the vehicles based on the Fiat Doblo platform will replace the Opel Combo Light Commercial Vehicle.
ABB Acquires Baldor Electric Co. For $4.2 Billion
November 30, 2010 3:59 am | News | CommentsZURICH, Switerland. and FORT SMITH, Ark. – ABB, the leading power and automation technology group, and Baldor Electric Company, a North American leader in industrial motors, have agreed that ABB will acquire Baldor in an all-cash transaction valued at approximately $4.2 billion, including $1.
Hard-To-Reach Fastener Application Solution
November 29, 2010 10:09 am | Product Releases | CommentsGage Bilt (Clinton Township, MI) is launching a solution meant for hard-to-reach fastener applications through ¼-inch diameter. The MGL08-713-58RA heavy duty right angle nose assembly will install ¼-inch Magna-Loks® and Hemlocks®. Gage Bilt also offers a unique right angle nose assembly for MS Blind Bolt, NAS Blind Rivet, UAB, Bulb-Tite, and many more.
