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Boeing (BA)
Boeing says one of its new 787s made an unplanned landing because an engine lost thrust unexpectedly.
Pilots landed at the airport in Moses Lake in central Washington on Friday. It had taken off from Boeing Field near Seattle.
Boeing says the plane had an "uncommanded loss of thrust" in one of its two engines. Boeing spokesman Jim Proulx (PROO) says the 787 can fly on one engine, but it’s normal procedure to land when there’s an engine problem.
Feb 24 · 12:09:00 AM · Source: ONN
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by Michael Oliveto
GE (GE)
GE is looking for up to 50 new suppliers in metro Detroit to make about $25 million worth of parts for home appliances.
GE is expected to hold a procurement fair in late March or early April to interview and select suppliers. Many of the 200-300 manufacturers invited will be former automotive parts makers looking to diversify.
Last June, GE Chairman and CEO Jeff Immelt announced that GE would invest $100 million and create 1,100 jobs at its new center for advanced manufacturing technology and software in Van Buren Township.
Feb 24 · 12:07:00 AM · Source: Michigan Business
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by Michael Oliveto
Boeing (BA)
A key House Republican plans to press Navy leaders this week on the Pentagon's apparent reluctance to enter into a multiyear deal with Boeing for F/A-18 aircraft, arguing that the costs saved are worth the risks of a long-term financial commitment.
Armed Services Seapower Subcommittee ranking member Todd Akin, R-Mo., whose district is near Boeing's defense headquarters in St. Louis, last year succeeded in attaching language to the defense authorization bill that would allow the Navy to pursue a multiyear deal for the F/A-18E/F Super Hornet fighters and E/A-18G Growlers, electronic attack aircraft built with the same airframe.
But on Feb. 3, Defense Secretary Robert Gates rejected the idea during testimony before the House Armed Services Committee, stating that the multiyear deal would cut only 6.5 percent off the price of each of the Boeing Co. aircraft -- far less than the 10 percent savings threshold that is customary for such long-term commitments.
Feb 24 · 12:04:00 AM · Source: Government Executive
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by Michael Oliveto
GE (GE)
GE signed a Memorandum of Understanding (MOU) with the Government of Pakistan today to help promote the modernization of Pakistan’s infrastructure and economy. The agreement focuses on the development of Pakistan’s energy resources to meet projected demand of 54,000 megawatts by the year 2020.
According to the MOU's terms, GE will assist the Government of Pakistan in achieving its goals by engaging in Pakistan's energy, transportation and water sectors and will work to identify potential sources of funding and explore potential investment opportunities in those sectors.
Feb 24 · 12:02:00 AM · Source: Company Press Release
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by Michael Oliveto
Boeing (BA)
Boeing will lay off 527 employees in the Puget Sound area by April 23, most of them from its Engineering, Operations and Technology unit.
The layoffs, detailed by Boeing in a WARN (Worker Adjustment and Retraining Notification Act) notification, are part of a larger group of 1,020 workers companywide who received layoff notices on Friday. The layoffs are part of a 10,000-person force reduction plan announced last year by Boeing CEO Jim McNerney.
Feb 23 · 11:57:00 PM · Source: MSN Money
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by Michael Oliveto
Boeing (BA)
The former director of marketing at the Boeing Helicopters Credit Union in Ridley, PA, and his brother were sentenced Monday on charges of conspiracy, loan fraud and bank bribery.
Anthony Forte, 43, of Glen Mills, Pa., who was also an executive vice president at the credit union, was sentenced to 28 months in prison and ordered to pay $1.26 million in restitution, according to the U.S. Attorney’s Office in Philadelphia.
His brother, David Forte, 39, of Prospect Park, Pa., was sentenced to one day in prison and ordered to pay $178,445 in restitution. His sentence took into account the fact that he has been diagnosed with a malignant brain tumor, the U.S. Attorney’s Office said.
Feb 23 · 8:40:00 PM · Source: Philadelphia Business Journal
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by Michael Oliveto
PHI Inc. (PHIIK)
Some helicopters in the Gulf of Mexico -- such as those transporting workers to and from offshore oil rigs -- may soon be able to safely fly much closer together, according to Sikorsky Aircraft Corp. Sikorsky, in partnership with helicopter service company PHI, has announced the development of helicopter signaling technology that allows equipped choppers to reduce the buffer zones between them from 20 miles to as little as five miles apart.
An aircraft equipped with the technoloogy automatically transmits its position and other pertinent information to land-based receivers, which then relay the
information to the Federal Aviation Administration's air traffic control
center in Houston for tracking and directing air traffic, Sikorsky announced at a recent air show.
The expectation is that the automation will lighten the load on air controllers, translating into improved on-time performance and efficiency for helicopter operators and the oil workers they shuttle to and from platforms in the Gulf.
Feb 23 · 8:17:00 PM · Source: Company Press Release · Related: United Technologies
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by Jeffrey Epstein
Alcoa (AA)
Fitch Ratings has affirmed the ratings for Alcoa Inc of Issuer Default Rating (IDR) at 'BBB-' and Short-term IDR at 'F3'.
The Rating Outlook remains Negative.
Feb 23 · 7:52:00 PM · Source: Reuters
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by Michael Oliveto
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