092111Downloads334

092111Downloads334 - Downloads commenced September 21,...

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Downloads commenced September 21, 2011: GM, China To Jointly Develop Electric Cars. GM are not sharing Volt IP but augmenting! The New York Times (9/21, Bradsher, Subscription Publication) reports GM announced Tuesday that it would "develop electric cars in China through a joint venture with a Chinese automaker, and would transfer battery and other electric car technology to the venture." This comes "as the Chinese government was putting heavy pressure on foreign automakers to transfer electric car technology to joint ventures in China. But G.M. took pains to say that its joint-venture agreement was not connected to its plans to begin importing its new American-made Chevrolet Volt plug-in electric hybrid to China this year." The AP (9/21, Kurtenbach, Writer) cites GM Vice Chairman Steve Girsky, who "told reporters that neither SAIC nor the Chinese government have requested Volt technology. Under the agreement with SAIC, the two companies will equally share the cost of developing a new all- electric vehicle, reducing GM's cost and risk, Girsky said. GM, he said, makes a lot of money in the growing China market, and the partnership is an investment to keep that going." Caterpillar Heavy Equipment Sales Increased 34 Percent In August. May have been lousy in Aug’10 The AP (9/21) reports, "Caterpillar's global heavy equipment sales rose 34 percent in August, with strong growth continuing despite the economic slowdown in the US and Europe." The AP reports, "The strongest regions for equipment sales in August were Latin America, with 43 percent sales growth, and a region encompassing Europe, Africa and the Middle East, where sales rose 46 percent." The company's "sales figures are watched closely because they are considered an indicator of the health of the global economy." ConAgra First Quarter Profit Falls On Higher Food Costs. Fed prints money really =’s inflation Bloomberg News (9/21, Boyle) reports ConAgra Foods "posted first-quarter profit that trailed analysts' estimates as costs for raw ingredients rose." ConAgra said "net income in the quarter ended Aug. 28 fell to $85.3 million, or 21 cents a share, from $146.4 million, or 33 cents, a year earlier." Revenue increased 9.5 percent to $3.07 billion. The AP (9/21, Subscription Publication) reports, "The maker of foods such as Slim Jim, Chef Boyardee and Healthy Choice said Tuesday that it is dealing with 'severe' cost inflation. The company backed its full-year earnings forecast, but said it expects those costs to grow during the year and it will continue to increase its prices." The company "said while costs were up across its business, the biggest contributors were higher prices for meats, packaging, fats and oils. It also had a particularly tough quarter in its flour milling business where an annual switch in wheat crop was much more expensive than last year, and helped drive profit down 14 percent." The AP notes that "ConAgra and other food makers
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This note was uploaded on 10/24/2011 for the course IE 334 taught by Professor Gard during the Spring '11 term at Lehigh University .

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092111Downloads334 - Downloads commenced September 21,...

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