LAS VEGAS (Reuters) – Caterpillar Inc’s (CAT.N: Quote, Profile, Research, Stock Buzz) bid to lift the financial performance of its dealer network isn’t designed to thin the ranks of the 178 independent distributors that sell and service its earth-moving products around the globe, a company executive said.
But Stuart Levenick, who is charged with overseeing the financial turnaround, said an unknown number of dealers including some family-run businesses, could be casualties of the push unveiled last month.
(Reuters) – Another senior executive is leaving Sprint Corp, the U.S. wireless company that has seen several key leaders exit since it was acquired last year by Japan’s SoftBank Corp (9984.T).
Fared Adib, a 12-year veteran of Sprint who was tapped by SoftBank to lead a new initiative last fall, has resigned from the Overland Park, Kansas-based company, according to an internal memo obtained by Reuters.
March 1 (Reuters) – Another senior executive is leaving
Sprint Corp, the U.S. wireless company that has seen
several key leaders exit since it was acquired last year by
Japan’s SoftBank Corp (9984.T).
Fared Adib, a 12-year veteran of Sprint who was tapped by
SoftBank to lead a new initiative last fall, has resigned from
the Overland Park, Kansas-based company, according to an
internal memo obtained by Reuters.
Feb 26 (Reuters) – Tesla Motors Inc said on
Wednesday it plans to raise $1.6 billion from investors to
finance a new battery factory that will help the upstart U.S.
automaker reach its goal of producing a lower-priced,
mass-market electric car by 2017.
Tesla said the new plant, nicknamed the “Gigafactory,” would
be built in one of four states: Nevada, Arizona, New Mexico or
Texas. By 2020, Tesla said, the plant would be able to make more
lithium-ion batteries in a year than were produced worldwide in
DETROIT (Reuters) – Michigan’s ban on gay marriage perpetuates discrimination and should be overturned, an attorney representing a lesbian couple argued on Tuesday at the start of the latest in a series of legal challenges to U.S. laws banning same-sex unions.
But the state countered in U.S. District Court in Detroit that its law prohibiting gay couples to wed was the “will of the people” who voted it into Michigan’s constitution a decade ago.
CHICAGO (Reuters) – Same-sex couples in Illinois’ Cook County, which includes the city of Chicago, can wed immediately and do not have to wait to tie the knot until a new state law legalizing gay marriage takes effect in June, a federal judge ruled on Friday.
Illinois lawmakers approved same-sex marriage late in 2013, effective on June 1, and several couples had sued Cook County Clerk David Orr for the right to marry immediately.
Feb 20 (Reuters) – Caterpillar Inc said on Thursday
that sales of its construction equipment had surged in recent
months, driven by an especially large jump in demand in North
America, where a series of severe winter storms and arctic
temperatures failed to keep builders out of dealer showrooms.
The Peoria, Illinois-based company, the world’s largest
maker of earth-moving equipment used by builders and miners,
said that worldwide retail sales to end users in the
construction industry rose 9 percent in the three months ended
Jan. 31, driven by a 12 percent increase in North America.
CHICAGO (Reuters) – Sick of hearing Americans complain about the winter weather? Too bad. Because the corporate kvetching has only just begun.
While meteorologists say warmer temperatures finally are on the way, savvy investors know a cold front could still be looming when it comes to the profits of publicly traded U.S. companies.
(Reuters) – Deere & Co (DE.N: Quote, Profile, Research, Stock Buzz) posted a stronger-than-expected quarterly profit on Wednesday but kept its full-year forecast unchanged, indicating the challenges the farm equipment industry faces as commodity prices come off the record highs of recent years.
The Moline, Illinois-based company said cost controls had helped offset the effects of moderating demand for its tractors, harvesters and other agricultural machinery in the most recent quarter.
CHICAGO, Feb 6 (Reuters) – Heavy snow and bone-chilling
weather this year have taken a toll on Ford Motor Co’s
U.S. vehicle production just as the company kicks off the
biggest year of new model launches in its history, a top
executive said on Thursday.
Extreme weather conditions have made it difficult for Ford
to get auto parts delivered to plants on time. Ford, Toyota
Motor Corp, Honda Motor Co and General Motors
Co have all had to halt production at times over the last
five weeks due to the weather.