Downloads commenced September 21, 2011:
GM, China To Jointly Develop Electric Cars.
GM are not sharing Volt IP but augmenting!
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."
(9/21, Kurtenbach, Writer) cites GM Vice Chairman Steve Girsky, who "told
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
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
(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
(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
Revenue increased 9.5 percent to $3.07 billion.
(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