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Fortune Brands Inc., the maker of Jim Beam bourbon and Moen faucets, is growing likely to cooperate with activist shareholder William Ackman on a plan to split up the company’s three business units, people familiar with the matter said.
There is no guarantee that efforts to spin off or sell the golf equipment, spirits and home-products businesses will succeed, given the complexity inherent in untangling and valuing the three divisions, the people cautioned. Get the full story »
Boeing Co. said on Thursday it lost eight orders for 787 Dreamliners in the week that ended Nov. 9 but gained eight after the transfer of orders from one customer to another, leaving the order book for 787s basically unchanged.
Boeing had said on Sunday Kuwait-based leasing company ALAFCO had shifted orders for the eight Dreamliners to Saudi Arabian Airlines. Get the full story »
The federal Occupational Safety and Health Administration has cited Schiller Park-based Interstate Brands Corp. with 20 alleged safety violations for failing to train workers and protect them from safety hazards. OSHA has proposed penalties totaling $274,500. Get the full story »
General Motors Co. is in the final stage of talks to sell equity to long-time Chinese partner SAIC Motor Corp. in conjunction with its landmark initial public offering, two people familiar with the matter said.
The two government-funded automakers are determining how much of a stake SAIC would buy in the top U.S. automaker after discussions involving technology sharing and SAIC’s ambitions to move beyond China, the sources said. Get the full story »
One test model Boeing 787 passes another on the tarmac before a flight from Boeing Field Wednesday, Oct. 27, 2010, in Seattle. (AP Photo/Elaine Thompson)
Chicago-based Boeing halted test flights of its long-delayed 787 Dreamliner on Wednesday, a day after smoke in the cockpit forced an emergency landing in Texas.
“We have decided to not fly the other airplanes until we better understand the incident,” said Boeing spokeswoman Loretta Gunter. “Whether this lasts all day or shorter or longer remains to be seen. The teams will focus on ground test objectives in the meantime.”
The incident, which involved a runway evacuation of those on board the flight, knocked shares 3.4 percent lower to $66.90 in early trade on the New York Stock Exchange as investors pondered the likelihood of another delay to the program, which is already nearly three years behind schedule. Get the full story »
A Boeing Co. 787 Dreamliner on Tuesday made an emergency landing in Laredo, Texas, after the crew reported smoke in the cabin during a test flight, according to the company and the Federal Aviation Administration.
The No. 2 plane of Boeing’s six-member test fleet was on a planned flight and routine approach to the Texas border city when a fire broke out in the rear of the cabin at about 2:50 p.m. local time. Get the full story »
Whirlpool Corp., hoping to spur sales of its appliances to designers and architects, is opening on Tuesday a showcase center in downtown Chicago called “The World of Whirlpool.’’
Josh Gitlin, Whirlpool sales director of training and development, said the idea is to show products in action to designers, architects and the media year around, without having to wait for trade shows where the company might only get a few minutes with potential customers. Get the full story »
Boeing Co. on Friday said it still plans to deliver its first long-delayed 787 Dreamliner in the first quarter of 2011.
The statement followed a report in Aviation Week, citing people familiar with the situation, saying the world’s second-largest plane maker has told some customers they could face delays of as much as 10 months.
Shares of Boeing fell more than 2 percent in after-hours trading on Friday after a published report said the plane maker has told several early customers of the 787 Dreamliner of more delivery delays. Get the full story »
Boeing Co. said on Thursday it took a new order for eight 777s, potentially worth $2.7 billion, from BOC Aviation in the week ended Nov. 2.
The company, which competes with Airbus for commercial plane sales, also identified Russian Technologies as the buyer behind an order for 50 737s. The buyer was previously listed as unidentified. Get the full story »
FreightCar America Inc. posted a much wider-than-expected quarterly loss, hurt by challenging market conditions and low demand for coal-carrying railcars, and said it expects tough competition to continue to hurt pricing. Get the full story »
R.R. Donnelley & Sons Co. said its third-quarter earnings rose more than quadrupled, as the printing company took smaller charges for restructuring and other special items. The company reported net income of $53.3 million, or 25 cents a diluted share, compared with $13.1 million, or 6 cents a diluted share, a year ago. The quarter included charges totaling $48.7 million, down from $131.7 million a year earlier. Get the full story »
Gaming machine maker WMS Industries posted fiscal first-quarter earnings that were a penny above Wall Street’s expectations late Monday.
The Waukegan, Ill., company reported net income of $19.5 million, or 33 cents per share, on $187.5 million in revenue for the three months ended Sept. 30. That compares with net income of $19.8 million, or 34 cents per share, on $165.3 million in revenue in the same quarter last year.
Caterpillar Inc.’s new CEO Doug Oberhelman is now also chairman at the world’s largest maker of mining and construction equipment.
Oberhelman became chairman Monday after the retirement of Jim Owens. Get the full story »
A Caterpillar worker ties down a machine part to a flatbed rail car with steel banding. (David Klobucar/Chicago Tribune)
Caterpillar Inc., a U.S. heavy equipment maker that has been moving aggressively into the rail business, will announce plans on Friday to open a railcar facility in Indiana, the (Muncie) Star Press newspaper reported on Friday.
Citing unnamed sources, the paper said Caterpillar’s Progress Rail unit would take over a huge vacant factory in Muncie that has doors in the rear that allow trains to enter and exit.
The report did not say whether the plant would be used to service locomotives and other railroad rolling stock or to manufacture new equipment. It said the facility, in east-central Indiana, would eventually employ 650 workers. Get the full story »
