Business

DUBAI, United Arab Emirates, Nov. 15, 2009 -- The U.S. government executed separate Letters of Offer and Acceptance with three of its key allies to purchase Raytheon Company's (NYSE: RTN) AIM-120C-7 Advanced Medium Range Air-to-Air Missile (AMRAAM).

The three countries, in the order they signed their LOAs, are Kuwait, Morocco and Jordan.

"The AIM-120C-7 provides unparalleled air combat and air defense capabilities," said Col. Michael Andersen, commander of the U.S. Air Force's 328th Armament Systems Group. "By equipping our allies with the AIM-120C-7 through the Foreign Military Sales program, the U.S. government strengthens regional security and promotes coalition interoperability."    » read more »

Boeing remains committed to protecting Santa Susana as public open space; Cleanup will continue while court decides case

SACRAMENTO, Calif., Nov. 13, 2009 – Boeing [NYSE: BA] is asking a federal court to review a recent California law passed solely to regulate the environmental cleanup of Santa Susana Field Laboratory, a former federal government rocket engine testing and energy research facility northwest of Los Angeles.

In its filing, Boeing says the recent state law changes the normal cleanup process applied throughout the state by imposing “irrational and arbitrary requirements” on Santa Susana.    » read more »

Airplane begins preparations for flight test

EVERETT, Wash., Nov. 12 -- Boeing (NYSE: BA), on Thursday afternoon, towed the first 747-8 Freighter out of the factory in Everett, Wash. The airplane, ultimately destined for Cargolux, will be painted and begin preparations for flight test.

"It is very rewarding to see this airplane transition to the flight test phase," said Mo Yahyavi, 747 program vice president and general manager. "Our employees, suppliers and customers have put a lot of work into making the 747-8 Freighter a reality."    » read more »

12 November 2009 -- Louisville, Kentucky – Open the December issue of Popular Science and you’ll find that the GE Hybrid Water Heater, with its advanced technology, pulls energy savings out of thin air. The innovative water heater has won a Best of What’s New award in the Home Technology category. This is the fourth time GE’s innovative products have won a Popular Science Best of What’s New award for Home Technology.    » read more »

Seven-Year O&M Contract Covering 529 GE 1.5-MW Machines Highlights E.ON and GE’s Services Focus

SCHENECTADY, N.Y. -- November 12, 2009 -- GE (NYSE: GE) and E.ON Climate & Renewables (EC&R) North America have signed a seven-year operation and maintenance (O&M) agreement covering EC&R’s complete fleet of 529 GE wind turbines installed in the United States. The O&M deal is one of the largest wind services agreements ever signed by GE.

The agreement is designed to maximize turbine availability and energy production across EC&R’s U.S. installed base of GE wind turbines. In addition, the agreement reflects GE and EC&R’s shared goal of maintaining peak performance and reliability and building the world’s best running fleet.    » read more »

Increased demand for restructuring finance expected to continue through 2010

NORWALK, Conn. -- November 12, 2009 -- GE Capital, Restructuring Finance ended 3Q as one of the most active providers of debtor-in-possession (DIP) and plan-of-reorganization (POR) financing in the U.S. and Canada, arranging or deploying approximately $2 billion throughout the first nine months of the year.

DIP financing is used by borrowers to fund ongoing working capital needs as they restructure under Chapter 11. POR, or exit financing, is utilized to support working capital needs upon emergence from bankruptcy.    » read more »

ExxonMobil CEO Addresses APEC CEO Summit in Singapore

November 13, 2009 -- SINGAPORE -- Affordable and reliable energy supplies necessary to rebuild the global economy require polices that encourage investment, expand international trade and promote technological innovation, Rex W. Tillerson, chairman and chief executive officer of Exxon Mobil Corporation2 (NYSE:XOM), said today.

Speaking at the Asia-Pacific Economic Cooperation (APEC) CEO’s Summit3, Tillerson said energy is critical to economic development, and despite the current downturn, demand is expected to grow4 in the years ahead, especially in the Asia-Pacific region.    » read more »

Q3 EPS of $0.84 Exceeds First Call Consensus of $0.81

BENTONVILLE, Ark., Nov. 12 -- Wal-Mart Stores, Inc. (NYSE: WMT) today reported diluted earnings per share from continuing operations for the third quarter of fiscal year 2010 of $0.84, exceeding the company's guidance of $0.78 to $0.82. Walmart earned $0.77 per share from continuing operations in the third quarter last year.    » read more »

KANSAS CITY, Mo., Nov. 11, 2009 -- Agriculture Secretary Tom Vilsack today announced that 70 U.S. trade organizations received more than $234 million in Fiscal Year 2009 to help promote American food and agricultural products overseas. Vilsack made this announcement at the annual convention of the National Association of Farm Broadcasters.

"Agricultural trade is absolutely crucial to the U.S. economy and by providing this funding to U.S. organizations during these difficult economic times will help open new global markets for American food products," said Vilsack.

The funding announced today was allocated under the Market Access Program (MAP) and the Foreign Market Development (FMD) Cooperator Program, both administered by USDA's Foreign Agricultural Service.    » read more »

Bill is needed to protect consumers and investors and to provide appropriate oversight of the financial marketplace.

November 10, 2009 -- Washington, DC -- The Consumer Federation of America today released the following statements on the introduction of Senator Dodd’s Financial Reform proposal.    » read more »

The Indian government is stepping up investment in infrastructure

New Delhi, India, 10 November 2009 – Not only is India an IT superpower but it is also looking to find its place on the world stage in manufacturing, Jyotiraditya Scindia, Minister of State for Commerce and Industry of India, told participants at one of the final sessions of the World Economic Forum’s Indian Economic Summit.

“A lot is happening on the manufacturing side,” he said. “The key impediment to becoming a global hub is not infrastructure bottlenecks, but entrepreneurship and leadership capability. Any country that has these two elements can overcome the hurdles.”    » read more »

Nov 09, 2009 -- BATON ROUGE – Today, Louisiana Governor Bobby Jindal applauded the grand opening of Northrop Grumman’s new 20,000-square-foot facility in Slidell, La. The new facility combined Northrop Grumman’s Slidell office and Stennis Space Center operations, representing a $4 million capital investment.

This project retained 35 jobs from the Slidell office, created 40 new high-tech jobs at an average annual salary of $47,000 plus benefits and will generate approximately 31 indirect jobs. In addition, this project is expected to generate nearly $1.7 million in new state tax revenues and nearly $1.2 million in new local tax revenues from 2009 to 2018.    » read more »

Highlights Severe Impact on Oyster Industry

Nov 10, 2009 -- BATON ROUGE - Today, Louisiana Governor Bobby Jindal issued the following letter to the Food and Drug Administration urging officials to reconsider new shellfish policy changes, highlighting the severe impact the new policy would have on the oyster industry.

The Honorable Margaret Hamburg, M.D.
Commissioner

U.S. Food and Drug Administration
10903 New Hampshire Ave
Silver Spring, MD 20993-0002

Dear Commissioner Hamburg:    » read more »

Governor’s recent trip to Japan leads to investment, more than 100 new jobs in Kentucky

November 10, 2009 -- FRANKFORT, Ky. – Joined by officials from Hitachi Automotive Products (USA), Inc. Kentucky Governor Steve Beshear today announced the company will expand its Harrodsburg operation, adding a new advanced fuel system production line to the plant. Furthermore, the expansion could also result in an additional product line for hybrid electric products in the near future.    » read more »

Addresses Emerging Online Reputation And Privacy Exposures

HARTFORD, Conn., Nov 10, 2009 (BUSINESS WIRE) -- User-generated content is taking many forms on today's Internet. Whether consumers are posting product reviews to a company's Web site, providing personally identifiable information to receive a special offer, or uploading photos to a social networking site, they're sharing more information about themselves online, which creates both opportunities and liabilities for companies with access to this content. To help midsize and larger businesses address these emerging areas of risk, The Hartford Financial Services Group, Inc. has enhanced its flagship cyber liability policy.    » read more »