News money 2008-04-26 Andanh.com

American Axle blames $27M first-quarter loss on UAW strike Fri, 25 Apr 2008 00:00:00 EST
The United Auto Workers strike against American Axle & Manufacturing Holdings Inc. cost the supplier $132.6 million in first-quarter sales and drove its bottom line into the red, the supplier said today.

Wagoner's GM package valued at $14M Fri, 25 Apr 2008 00:00:00 EST
General Motors Corp. Chairman and Chief Executive Rick Wagoner's 2007 compensation package was valued at roughly $14 million, a 40 percent increase from 2006, the company reported Friday.

Ford posts profit; more cuts coming Fri, 25 Apr 2008 00:00:00 EST
Ford's surprise $100 million first quarter profit pushed Blue Oval shares nearly 12 percent higher Thursday, but the Dearborn automaker warned that deeper cost cuts will be necessary to meet its goal of returning to full-year profitability in 2009.

UAW won't strike today at GM's Kansas and Grand Rapids plants Fri, 25 Apr 2008 00:00:00 EST
General Motors Corp. has avoided another strike -- at least for today.

All-new Mazda6 unveiled Fri, 25 Apr 2008 00:00:00 EST
Mazda Motor Corp. today released the first pictures of its new flagship sedan, the all-new 2009 Mazda6.

EPA orders some Miracle-Gro items pulled from store shelves Fri, 25 Apr 2008 00:00:00 EST
WASHINGTON -- Home Depot, Wal-Mart and several other retailers must stop selling mislabeled pesticides from Scotts Miracle-Gro, regulators said Friday.

Oil futures rebound from earlier drop Fri, 25 Apr 2008 00:00:00 EST
LONDON -- Oil prices rose Friday, largely reversing an earlier $2 a barrel drop, after a militant group behind recent attacks in Nigeria's southern oil region said it had sabotaged another pipeline and a strike hit Exxon Mobil production in Africa's biggest exporter.

Honda's fourth-quarter profit plummets 86 percent Fri, 25 Apr 2008 00:00:00 EST
TOKYO -- Honda's net profit in the January-March quarter plunged 86 percent compared with the same period a year ago because of a one-time corporate tax levied on its Chinese joint venture, the Japanese carmaker said Friday.

Bloomingdale's workers OK strike deadline at flagship store Fri, 25 Apr 2008 00:00:00 EST
NEW YORK -- Workers have authorized a strike at Bloomingdale's Manhattan store, which could lead to the first shutdown at the famed flagship in more than four decades.

Detnews.com recognized for design, sports Fri, 25 Apr 2008 00:00:00 EST
Detnews.com, the Web site of The Detroit News, is a finalist for two EPpy Awards, presented annually for the best media-affiliated Internet services. The awards are managed by Editor & Publisher and MediaWeek, an online newsmagazine.

GM averts UAW strikes in western Michigan, Kansas Fri, 25 Apr 2008 13:45:00 EST
General Motors Corp. and the UAW have managed to avoid strikes at a plant in Wyoming, Mich., near Grand Rapids, and at a Malibu plant in Kansas City, Kan.

SUSAN TOMPOR: Ford profit no surprise to Detroit Fri, 25 Apr 2008 02:36:00 EST
Wall Street might be shocked about seeing Ford Motor Co. shift into profitability. But those of us who live in metro Detroit and witnessed the pain of all that downsizing -- as well as the dramatic change in the last UAW contract -- figured this day was bound to come. The problem is that cutting jobs won't move metal.

Bush says rebates going out Monday will boost economy Fri, 25 Apr 2008 14:02:00 EST
WASHINGTON — President George W. Bush said tax rebates will start going out Monday, earlier than previously announced, and should help Americans cope with rising gasoline and food prices, as well as aid a slumping economy.

Ford's $100-million lift Fri, 25 Apr 2008 00:00:00 EST
Ford Motor Co.'s surprising $100-million profit is a sign that the automaker's recovery plan is on track -- despite the suffering U.S. economy -- and that Ford may be poised for a bona fide turnaround once consumer confidence is restored.

AMERICAN AXLE'S ANNUAL MEETING: Sides trade tough talk Fri, 25 Apr 2008 00:00:00 EST
Five UAW members who own stock or represented stockholders of American Axle & Manufacturing Holdings Inc. got a chance to ask the company's chairman some tough questions on Thursday, and they got tough, thorough, answers. "How long do you think the strike is going to last?" asked Steve Conner, 46, of Madison Heights.

Chrysler lowers car loan rate Fri, 25 Apr 2008 00:00:00 EST
As the economy worsens and automakers struggle to sell new vehicles in the United States, Chrysler LLC is working to get people with less than stellar credit in new cars and trucks.

UAW effort quiet but alive at Toyota site Fri, 25 Apr 2008 00:00:00 EST
LEXINGTON, Ky. -- The longtime UAW drive to unionize the Toyota Motor Corp. complex in Georgetown, Ky., remains active, if behind the scenes, UAW President Ron Gettelfinger said Thursday. "We don't have the people to cover all the calls we get," Gettelfinger said of activity among UAW organizers based at the facilities.

Airline execs say merger to be smooth Fri, 25 Apr 2008 00:00:00 EST
WASHINGTON -- The chief executives of Delta and Northwest airlines vowed Thursday that their merger would have little effect on air travelers, saying the merged Delta would offer more flights but would not lead to higher ticket prices.

Jefferson retail aid pushed Fri, 25 Apr 2008 02:37:00 EST
The Jefferson Avenue corridor running east from downtown Detroit would get a cash infusion to help retailers under a plan being developed by the city and a local foundation.

Cox, Gettelfinger to endorse health care proposals Fri, 25 Apr 2008 13:21:00 EST
Attorney General Mike Cox and UAW President Ron Gettelfinger on Monday will announce their support for proposals to change Michigan's growing individual health insurance market.

Health coverage compromise sought Fri, 25 Apr 2008 00:00:00 EST
LANSING -- Sen. Tom George, chair of the committee examining proposed changes to Michigan's individual insurance market, attempted to broker compromises Thursday by asking that only policies that have the greatest support and that will benefit consumers the most be adopted.

South is favored for VW plant Fri, 25 Apr 2008 01:34:00 EST
WASHINGTON -- Tennessee and Alabama should be favored over Michigan to land a new Volkswagen assembly plant, analysts said Thursday, based on the auto industry's migration into the Sun Belt and concerns about labor's heavy influence in Michigan. Volkswagen confirmed that it was considering the three states for a potential plant.

Mulally won't rule out layoffs in further cuts Fri, 25 Apr 2008 01:34:00 EST
Despite Ford Motor Co.'s surprise profit in the first three months of the year -- and 47,100 salaried and hourly job cuts since 2005 -- Chief Executive Officer Alan Mulally would not rule out the possibility that involuntary job cuts might be coming to Ford workers in the United States, Canada and Mexico.

NATION & WORLD: United raises many fares Fri, 25 Apr 2008 01:27:00 EST
United Airlines raised nearly all its domestic airfares by 3% to 5% Thursday as it struggles to cope with soaring fuel costs. The widespread increase is the third in a row initiated by United in just over two weeks and will likely entice other carriers to follow suit.

MICHIGAN: Whirlpool profit tumbles Fri, 25 Apr 2008 01:26:00 EST
Whirlpool Corp., the world's largest appliance maker, fell the most since 2002 in New York trading after saying first-quarter profit declined and forecasting annual earnings lower than its earlier projections.

AUTO HEADLINES: GM faces strike deadlines Fri, 25 Apr 2008 01:25:00 EST
General Motors Corp. faces strike deadlines today from UAW locals at two factories, including one in Kansas City that makes the strong-selling Chevrolet Malibu sedan.

Downtown markers Fri, 25 Apr 2008 00:00:00 EST
As part of a streetscape improvement plan approved Thursday by Detroit's Downtown Development Authority, a series of pavement plaques and 4-foot-tall bollards or markers will be installed on prominent downtown corners.

People making news Fri, 25 Apr 2008 00:00:00 EST
MARS Advertising has named Glenn Sherling vice president, Retail Channel Director for the Minneapolis office. Sherling brings more than 27 years of experience leading cross-functional teams on major consumer packaged goods brands, including Hormel Foods and Schwan's consumer brands.

GM avoids 2 strikes, local talks continue Fri, 25 Apr 2008 12:09:00 EDT
As a strike enters its eight day at General Motors Corp.'s Lansing Delta Township plant, the automaker has avoided walkouts at two other facilities.

American Axle blames strike for loss Fri, 25 Apr 2008 09:21:00 EDT
DETROIT - American Axle and Manufacturing Holdings Inc. lost $27 million in the first quarter that ended in March, the auto parsmaker said today.

Comcast monitoring Web to repair image Thu, 24 Apr 2008 23:34:00 EDT
PHILADELPHIA - Most afternoons, the Internet in Sarah Chambers' office at iFractal LLC in Center City crashes and leaves her cyber-stranded without e-mail or online communication with clients.

Ford posts surprise 1Q profit, still expects loss for the year Thu, 24 Apr 2008 23:38:00 EDT
DEARBORN - Despite a surprise profit of $100 million for the first quarter, Ford Motor Co. said Thursday that it still expects to lose money this year as the U.S. auto market deteriorates.

Delta, NWA defend combination Thu, 24 Apr 2008 23:36:00 EDT
WASHINGTON - The chief executives of Delta Air Lines Inc. and Northwest Airlines Corp. tried to assuage skeptical lawmakers' concerns Thursday about their proposed combination.

Rebate checks go out Monday Sat, 26 Apr 2008 00:00:00 EST
WASHINGTON -- President Bush said tax rebates will start going out Monday, earlier than previously announced, and should help Americans cope with rising gasoline and food prices, as well as aid a slumping economy.

Farm costs eat profits for struggling Michigan farmers Sat, 26 Apr 2008 00:00:00 EST
Grain farmer Cecil Schoenherr thought he hit pay dirt late last year when he sold his 2008 wheat crop on contract for $4 a bushel, much more than the $2.50 he got for it in 2005. But what he didn't foresee was that the cost of fertilizer, herbicides and other materials he needed to grow the crops would triple this year or that the fuel to operate the machinery would be $3.70 a gallon.

GM's Wagoner made $14.4 million in '07 Sat, 26 Apr 2008 00:00:00 EST
CEO Rick Wagoner's total compensation jumped 40 percent in a year in which the automaker lost money for a third straight year but also slashed costs and brokered a historic labor deal with the UAW.

Axle will invest after deal Sat, 26 Apr 2008 00:26:00 EST
American Axle & Manufacturing Holdings Inc. will make significant investments in five U.S. plants now idled by a United Auto Workers strike if a competitive wage deal is reached, the company said Friday.

Earnings will drop this year, Honda says Sat, 26 Apr 2008 00:00:00 EST
Honda Motor Co. predicted a drop in earnings for the fiscal year that began April 1 because of the weakness in the U.S. auto market, its biggest source of profit, and unfavorable currency rates.

'GTA' could drive away with record Sat, 26 Apr 2008 00:00:00 EST
"Grand Theft Auto IV" comes out on Tuesday for the PlayStation 3 and Xbox 360, and if all the hype is to be believed, it's gonna be huge.

AG Cox challenges Blues on purchase Sat, 26 Apr 2008 00:00:00 EST
Michigan Attorney General Mike Cox is looking into whether Blue Cross Blue Shield of Michigan improperly used funds to "subsidize or infuse" capital into its for-profit subsidiary, the Accident Fund, after testimony at a Senate subcommittee hearing last week sparked questions about the transaction.

Brian J. O'Connor: Brian J. O'Connor: Get more bang for stimulus buck Sat, 26 Apr 2008 00:00:00 EST
In a rare burst of efficiency, the federal government is sending the first of $110 billion in economic stimulus checks four days early, meaning that an extra $300 to $1,500 could be in your account as early as Monday.

Applegate gets a makeover Sat, 26 Apr 2008 00:00:00 EST
SOUTHFIELD -- A shopping center that has anchored a booming Southfield neighborhood for nearly four decades is getting a $12 million renovation that will freshen its look and add a bistro and hotel.

Deal is reached on farm aid bill Sat, 26 Apr 2008 00:00:00 EST
WASHINGTON -- Congressional negotiators reached a tentative agreement Friday on a multibillion-dollar farm bill that includes a hefty increase for nutrition programs at a time of rising food prices.

TOM WALSH: Business leaders fret about impact of blaming mayor Sat, 26 Apr 2008 00:00:00 EST
Metro Detroit's business leaders are split on whether to leave scandal-plagued Mayor Kwame Kilpatrick alone or push him to resign from office, in part because they are fearful of inflaming racial divisions in the region.

Strike lowers Axle's profits Sat, 26 Apr 2008 00:00:00 EST
American Axle & Manufacturing Holdings Inc. said Friday its first-quarter sales and profits were slashed by the first month of a continuing UAW strike over wages and benefits.

FORD PIQUETTE PLANT: Model T's centennial Sat, 26 Apr 2008 00:00:00 EST
The Piquette Avenue plant in Detroit where Henry Ford made the first 15,000 Model T cars is getting some improvements this year, the 100th anniversary of the iconic car.

Wagoner's pay up 18% Sat, 26 Apr 2008 00:00:00 EST
General Motors Corp. Chairman and CEO Rick Wagoner's compensation rose 18% in 2007 to $6.6 million, and the company said Friday it was raising the salaries of Wagoner and other top executives this year.

Ford stock pulls back after getting ahead of itself Sat, 26 Apr 2008 00:00:00 EST
Hold your horses. That seemed to be the message Friday on Wall Street, after shares of Ford Motor Co. surged Thursday when it disclosed a surprise $100-million profit. Shares gained from a low of $4.95 in mid-March to close Thursday at $8.40.

Health plan proposals get backing Sat, 26 Apr 2008 00:00:00 EST
Attorney General Mike Cox and two consumer groups are to announce Monday their support for proposals to change Michigan's growing individual health insurance market. Cox is to endorse key proposals in legislation from Sen. Tom George, R-Kalamazoo, at a 10 a.m. news conference at Cox's Lansing office, according to Rusty Hills, spokesman for Cox.

Honda profit plunges 86% on tax Sat, 26 Apr 2008 00:00:00 EST
TOKYO -- Honda Motor Co.'s net profit in the January-March quarter plunged 86% compared with the same period a year ago because of a one-time corporate tax levied on its Chinese joint venture, the Japanese carmaker said Friday. But Japan's second-biggest automaker still reported a record profit for the fiscal year just ended on booming overseas sales.

1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 Next

Chinese Dir