The Leading Source for Industrial Distribution News
U.S. Auto Sales Seen Slowing With Recovery In Doubt
June 29, 2010 10:16 am | News | Commentsbt Dee-Ann Durbin and Tom Krisher, AP Auto Writers DETROIT (AP) — When it comes to car shopping, Americans are tapping the brakes. Forecasters expect U.S. sales of cars and light trucks to slow for June after months of improvement. It's another sign that people are beginning to doubt the economic recovery with unemployment still high.
FAA Ignores Boeing Cockpit Fires Caused By Window Heaters
June 29, 2010 4:47 am | by Joan Lowy and Joshua Freed, Associated Press Writers | News | CommentsWASHINGTON (AP) — Federal aviation officials have known for years that cockpit window heaters in some Boeing planes catch fire. But they haven't required airlines to fix the problem, even after dozens of incidents that unnerved pilots and, in some cases, forced emergency landings. Pilots have complained about heaters that burned, smoldered or sent electric currents dancing across cockpit windows since at least 2002, according to an Associated Press search of a NASA aviation safety database.
CarMax CEO: Expect Slow Auto Market Recovery
June 29, 2010 4:44 am | by Michael Felberbaum, AP Business Writer | News | CommentsRICHMOND, Va. (AP) — CarMax Inc. CEO Tom Folliard is expecting the recovery of the worst U.S. auto sales market in decades is going to be slower than some others foresee. The head of the Richmond-based used car dealership chain told shareholders at its annual meeting in Richmond that customers are starting to return and sales are improving, but not at pre-recession levels.
Foxconn Plans Construction Of New Plant Amid Suicide Scrutiny
June 29, 2010 4:43 am | by Elaine Kurtenbach, AP Business Writer | News | CommentsSHANGHAI (AP) — Foxconn Technology, a supplier to Apple Inc., looks ready to build a huge new factory in north-central China despite the company's own misgivings about city-sized manufacturing facilities after a spate of suicides among its young migrant work force. The company plans to recruit some 300,000 workers for the new plant, to be located in the Henan city of Hebei, according to a notice seen Tuesday on a local government website.
Open Every Door
June 28, 2010 10:05 am | Product Releases | CommentsAlbany Door Systems (Lawrenceville, GA) recently unveiled the MCC VectorControl high-speed door controller, designed to always monitor electrical current and operate with a variable frequency. According to the company, the MCC VectorControl comes in a sleek, brushed, stainless steel enclosure.
More Than A Little Abrasive
June 28, 2010 9:58 am | Product Releases | CommentsDeWalt (Towson, MD) now offers a new line of abrasives designed to withstand the rigors of an industrial jobsite. According to the company, the new line offers professional contractors product innovation in six categories. They include: metalworking coated abrasives, wearable backing flap discs, wire wheels, hubbed thin wheels, contaminant-free thin wheels, and XP grinding wheels.
Easy Access
June 28, 2010 9:55 am | Product Releases | CommentsPro-Fit Systems (Puyallup, WA) announces the availability of the Pro-Fit modular leg platform, a fully-adjustable, one-size-fits-all tool management carrier. Made from heavy-duty nylon webbing, the modular leg platform attaches to the right or left thigh. Therefore, it allows the wearer to easily access his or her most often-used tools.
Accommodate For Tolerance Stack Up
June 28, 2010 9:53 am | Product Releases | CommentsSherex Fastening Solutions (Tonawanda, NY) offers the RIV-FLOAT® rivet nut. The internally floating threads on RIV-FLOAT allow for component attachments in off-center applications and can accommodate for tolerance stack up in the manufacturing process. The floating nut (.
Boeing Machinists Pass Contract, Avoid Strike
June 28, 2010 4:35 am | News | CommentsST. LOUIS (AP) — Boeing workers in St. Louis have accepted a contract with the plane manufacturer, avoiding a strike that would have gone into effect Monday if the deal had been rejected. The International Association of Machinists and Aerospace Workers said the contract passed Sunday by a vote of 1,237 to 838.
Japanese Automakers See Production Surge Surge In May
June 28, 2010 4:29 am | News | CommentsTOKYO (AP) — Toyota's global car production zoomed 27 percent in May as Japanese automakers benefit from improving demand in Asia and the U.S. Toyota Motor Corp., the world's No. 1 automaker, which makes the Prius hybrid and Lexus luxury model, said Monday it produced 637,675 vehicles worldwide in May.
Bankruptcy Judge Approves Visteon's Disclosure Plan
June 25, 2010 12:01 pm | by Randall Chase, AP Business Writer | News | CommentsWILMINGTON, Del. (AP) — A Delaware bankruptcy court judge on Friday cleared the way for auto parts supplier Visteon Corp. to begin soliciting votes on its proposed reorganization plan, which would leave unsecured bond holders in control of the company. Overruling objections from certain shareholders and holders of unsecured trade claims, Judge Christopher Sontchi approved documents describing Visteon's proposed reorganization plan and the process for creditors to vote on it.
Bankruptcy Judge Weighs In On Auto Parts Supplier's Disclosure Plan
June 25, 2010 7:28 am | by Randall Chase, AP Business Writer | News | CommentsWILMINGTON, Del. (AP) — Auto parts supplier Visteon is asking a Delaware judge to approve documents describing its proposed reorganization plan and how creditors would vote on it. But the judge began a hearing Friday by denying a request to delay implementation of his order allowing Visteon's unsecured bond holders to sponsor a stock rights offering for the reorganized company.
Boeing Receives $100 Million Contract From U.S. Navy
June 25, 2010 7:22 am | News | CommentsWICHITA, Kan. (AP) — Boeing has announced it received a five-year logistics support contract from the U.S. Navy valued at more than $100 million. Steve Wade is general manager of Boeing Global Transport & Executive Systems. He said Thursday in a statement that as the original equipment manufacturer of the C-40A the company is uniquely positioned to support these aircraft.
Caterpillar, German Equipment Maker Team Up
June 24, 2010 9:12 am | News | CommentsPEORIA, Ill. (AP) — Caterpillar Inc. said Thursday it has signed an agreement to have German equipment maker Wacker Neuson SE design, manufacture and sell Caterpillar's lighter weight hydraulic excavators. Wacker Neuson will produce Caterpillar "mini" hydraulic excavators weighing under three tons at its plant in Linz, Austria.
Commerce Secretary Says Yuan Still Undervalued
June 24, 2010 4:12 am | by Stephen Ohlemacher, Associated Press Writer | News | CommentsWASHINGTON (AP) — Despite China's decision to let its currency appreciate against the dollar, the yuan is still undervalued, hurting American exports, Commerce Secretary Gary Locke said Wednesday. President Barack Obama will raise currency and other trade issues in talks with Chinese officials at a G-20 summit of wealthy and developing nations in Canada this weekend, Locke said at a Senate Finance Committee hearing.
Toyota Supplier Looks To End Strike, Start Up Next Week
June 24, 2010 4:10 am | by Shino Yuasa, Associated Press Writer | News | CommentsTOKYO (AP) — Toyota Motor Corp. said Thursday it aims to restart production early next week at one of its main Chinese factories that has been halted due to a strike, while Honda Motor Co. resumed operations at a car assembly plant in China following the end of a labor dispute. Toyota, the world's largest automaker, halted operations at its plant in southern Guangzhou on Tuesday, after a strike at a supplier run by Japanese parts-maker Denso Corp.
Feds Paint Fragile Picture Of U.S. Economic Recovery
June 24, 2010 4:08 am | by Jeannine Aversa, AP Economics Writer | News | CommentsWASHINGTON (AP) — The Federal Reserve struck a more cautious tone about the strength of the U.S. economic recovery, indicating Europe's debt crisis poses a risk to it. Wrapping up a two-day meeting Wednesday, the Fed in a 9-1 decision retained its pledge to hold rates at record-low levels for an "extended period.
Durable Good Orders Decline In May
June 24, 2010 4:05 am | by Daniel Wagner, AP Business Writer | News | CommentsWASHINGTON (AP) — Orders to U.S. factories for big-ticket manufactured goods declined in May as demand for commercial aircraft dropped off. But excluding transportation, orders rose. The Commerce Department says demand for durable goods fell 1.1 percent last month. It was the first decline in six months, following April's strong 3 percent increase.
Survey Says CEOs Plan To Boost Payrolls
June 23, 2010 11:31 am | by Tali Arbel, Business Writer | News | CommentsNEW YORK (AP) — The number of CEOs planning to ramp up hiring is at the highest level since mid-2007, according to a survey that suggests big U.S. companies are growing more confident about the economic recovery. The Business Roundtable, an association of CEOs of big U.S. companies, said Wednesday its survey shows 39 percent of chief executives expect to boost their payrolls in the second half of 2010.
Bathroom Supplier Fined $400M For Price Fixing
June 23, 2010 11:28 am | by Aoife White, AP Business Writer | News | CommentsBRUSSELS (AP) — The European Union has fined bathroom supplier Ideal Standard euro326 million ($400 million) for secret deals with 16 other companies to fix prices for sinks, baths, taps and fittings in six European countries. The EU's executive commission said Wednesday that the cartel "harmed businesses such as builders and plumbers and ultimately, a large number of families" in Germany, Austria, Italy, Belgium, France and the Netherlands.
