February 15, 2014 |
Turning more than 1,500 painters, inspectors, tradespeople and maintenance workers at a Tennessee auto plant into union members was supposed to be relatively easy for the United Auto Workers union, experts on organized labor said. The effort would have created the first union at a foreign-owned automaker in the historically anti-union South - and raised the morale of a union that has seen membership plummet from 1.5 million in 1979 to 380,000 last year. But 53% of workers at the 3-year-old Volkswagen factory in Chattanooga rejected a unionization bid, giving pro-union autoworkers from Michigan to Mississippi a reason to squirm and providing what experts said was the latest sign that conservative efforts and the threat of job losses were crippling U.S. labor unions.
February 14, 2014 |
The severe weather that has hit much of the country this winter has cost the economy nearly $50 billion in lost productivity and 76,000 jobs, according to a new survey. The debilitating effects of Old Man Winter hit factory production, which last month fell the most since the Great Recession ended, the Federal Reserve said Friday. Manufacturing output dropped 0.8% in January compared with the previous month, the first decline since July and the biggest falloff since May 2009.
February 9, 2014
The company: The Cheesecake Factory Inc. Headquarters: Calabasas Ticker: CAKE Employees: 33,900 Leadership: David M. Overton, co-founder and chief executive Fiscal 2012 revenue: $1.8 billion Fiscal 2012 net income: $98.4 million Stock price: $44.69 at Friday's close 52-week range: $32.64 to $49.74 P/E ratio: 22 Quarterly dividend: 14 cents, a current yield of 1.2% ...
February 9, 2014 |
People like rich, tasty food - and sweet, smooth desserts. That's a recipe the Cheesecake Factory Inc. has been following for more than three decades. The company's roots can be traced to the home kitchen of Evelyn Overton, who ran a small baked goods business from the family home in Detroit in the 1940s. She and her husband, Oscar, later moved to California to launch a bakery. In 1978, their son, David, opened the first Cheesecake Factory restaurant in Beverly Hills. "I didn't know what I was doing," David Overton told The Times in a 2011 interview.
February 4, 2014 |
Factory orders fell 1.5% in December, led largely by a decline in orders for new aircraft, the U.S. Commerce Department reported Tuesday. New orders fell $7.2 billion to $489.2 billion, the largest drop in five months. December's decline followed an increase of 1.5% the previous month, the Commerce Department said. Removing the transportation equipment category, which includes aircraft, new orders were actually up 0.2%. Orders for non-defense capital goods, a proxy for business investment, declined by less than previously estimated, falling 0.6% instead of an earlier estimate of 1.3%.
January 27, 2014 |
Foxconn Technology Group, the Taiwanese manufacturer for tech firms such as Apple Inc., is looking to build a factory in the United States. The major maker of iPhones and iPads is in talks with several states including Arizona and Colorado to set up a manufacturing facility to make high-tech parts, company spokesman Simon Hsing told Bloomberg. Rising transporation costs and wages in mainland China has spurred some companies to look at bringing some manufacturing capacity closer to home either within the U.S. or in nearby Mexico or Canada.