Transportation equipment industry
Volkswagen has announced plans to invest £500m in the Rolls-Royce and Bentley car models manufactured at the Crewe factory, with the aim of boosting production to 9,000 cars a year over the next five years. The investment will see the launch of a new medium-sized Bentley model, to be
Transportation equipment industry
BMW, the Bavarian carmaker, has firmly rejected the latest wave of takeover threats from major automotive players, including Volkswagen and Fiat. Despite reports of interest from these companies, BMW's CEO, Bernd Pischetsrieder, has assured investors that the company remains committed to its strategy of offering high-value products across
Transportation equipment industry
Markets staged a strong comeback on Wednesday, led by optimism over quarterly earnings reports from prominent companies like Ford Motor Co. and Intel Computer Corp. The Dow Jones industrial average climbed 30.64, while the Standard & Poor's 500 added 10.73. The Nasdaq composite rose 31.52.
Transportation equipment industry
LSI Logic Corp. announced a significant workforce reduction, cutting 1,200 jobs due to acquisition-related costs and global economic issues. The company also reported a net loss of $283 million for the quarter ending September 30. In related news, the Federal Trade Commission (FTC) ordered Toys R Us to cease
Transportation equipment industry
Ford Motor Co. has announced significant management changes as it prepares to take control of the No. 2 automaker at the start of next year. Peter Pestillo has been named vice chairman, and Jacques Nasser, head of auto operations, is set to become the next CEO. The company has also
Transportation equipment industry
In a bid to enhance driver convenience, Ford Motor Company will be the first automaker to offer TravelNote, a digital voice recorder built into the driver's sun visor, in conjunction with the popular HomeLink Universal Transceiver system. This innovative feature will be available as an option in the
Transportation equipment industry
The strong pound is casting a shadow over Ford's long-term investment in the UK, with the company's CEO Jac Nasser admitting that it could become cheaper to build cars abroad. The car giant has already taken steps to mitigate the effect of the strong pound, putting
Transportation equipment industry
As Ford Motor Co.'s chairman, Alex Trotman, prepares for his retirement at the end of the year, speculation surrounds the company's potential acquisition of another automotive company. Meanwhile, Intensiva Healthcare Corp. has opened a new intensive care facility in Michigan, and labor negotiations between US Airways
Transportation equipment industry
Steve Hmiel, a 11-year veteran of Ford's NASCAR team, has made the surprise move to join Dale Earnhardt Inc. (DEI) as a technical consultant, bringing with him a wealth of experience and knowledge. This shift comes after Hmiel's tenure with Jack Roush's team, where
Transportation equipment industry
JAC Nasser, the recently appointed president and CEO of Ford Motor Company, is set to earn around $10 million next year. This marks a significant departure from his humble beginnings as a financial analyst at Ford Australia in 1968. Nasser's journey has been nothing short of meteoric, with
Transportation equipment industry
The robust economic growth of the 1990s has been fueled in large part by capital spending, which accounts for 25 percent of the total expansion in output this decade. However, as the Asian crisis has taken its toll, companies are beginning to scale back investments in new factories, equipment, and
Transportation equipment industry
The Internal Revenue Service has issued a critical ruling allowing the proposed merger between Chrysler Corporation and Daimler-Benz A.G. to proceed tax-free. The condition of the merger requires a minimum of 75 percent of outstanding Daimler-Benz shares to be exchanged, although the companies aim to exchange at least 90
