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Mass layoffs decline in June

July 26, 2005

In June 2005, employers took 1,175 mass layoff actions, seasonally adjusted, as measured by new filings for unemployment insurance benefits during the month, the Bureau of Labor Statistics of the U.S....

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U.S. House considers Trade Rights Enforcement Act

July 26, 2005

Today the U.S. House of Representatives is considering legislation to crack down on China and other countries that illegally subsidize their companies to give then a competitive advantage over U.S....

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Haldex to manufacture compressors in China

July 25, 2005

Stockholm, Sweden-based Haldex, a provider of components to the global automotive industry, announced today it has signed a license and manufacturing agreement with a subsidiary of ASIMCO Technologies...

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NAM urges grassroots action on death tax repeal

July 21, 2005

The National Association of Manufacturers (NAM) is urging all organizations and companies to fax the appropriate Senators to encourage them to vote to repeal the death tax permanently.In 2001 Congress...

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Manzullo calls China's currency revaluation "good news"

July 21, 2005

House Small Business Committee Chairman Don Manzullo (R-IL) today welcomed China's decision to unpeg its currency to the U.S. dollar, calling it a good first step to leveling the playing field for...

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W. R. Timken, Jr. to be nominated as Ambassador to Germany

July 20, 2005

The Timken Company has announced that President Bush intends to nominate W. R. Timken, Jr., chairman of the Timken Board of Directors, for the position of U.S. Ambassador to Germany. The nomination...

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Ford announces appointments in North America, Europe

July 20, 2005

Ford Motor Co. today announced executive elections and appointments in North America and Ford of Europe.Derrick Kuzak has been appointed vice president, North America Engineering, effective August 1....

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TI Automotive subsidiary to build in Alabama

July 20, 2005

Hanil USA, a subsidiary of TI Automotive, is developing a new, multi-million-dollar manufacturing facility in Tallassee, Ala.The plant will assemble plastic and steel tube components used in...

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Ford 2nd-quarter earnings drop 19 percent

July 19, 2005

Ford Motor Co. today reported net income of 47 cents per share, or $946 million, for the second quarter of 2005. This compares with net income of 57 cents per share, or $1.2 billion, in the second...

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Whirlpool extends offer to acquire Maytag

July 18, 2005

Whirlpool Corp. announced July 17 that it has made a proposal to acquire Maytag Corp. for $17 per Maytag share. The total value of the proposal represents a 21 percent premium over the price offered...

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AK Steel announces August surcharges

July 15, 2005

AK Steel has advised its flat-rolled carbon steel customers that a $183 per ton surcharge will be added to invoices for products shipped in August 2005. The company also has advised its electrical...

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Industrial production rises in June

July 15, 2005

The Federal Reserve reported today that industrial production increased 0.9 percent in June, three times May's 0.3 percent increase and the highest increase in 16 months. More than half of the gain...

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Jobs added in June, but not in manufacturing

July 14, 2005

Nonfarm employment increased by 146,000 in June, and the unemployment rate continued to trend down, reaching 5.0 percent—down from 5.1 percent in May and the lowest since September...

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WCI Steel names vice president–operations

July 14, 2005

WCI Steel, Inc. announced today that James F. Walsh has been named vice president-operations. Walsh has served as a consultant to WCI since April 2005 and has worked in various managerial and...

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Manzullo challenges Greenspan on China currency

July 14, 2005

House Small Business Committee Chairman Don Manzullo (R-IL) today challenged Federal Reserve Board Chairman Alan Greenspan's recent statement that a revaluation of China's currency—the...

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