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Monthly Archive February, 2009

Expect more hard-times car incentives

February 26, 2009

Hyundai created something truly novel with the "Hyundai Assurance" sales incentive it announced at the beginning of 2009: An auto sales incentive that seems to actually be working.
Last month, just after the Assurance program was announced, Hyundai had the largest sales increase of any automaker, and it was one of only three with […]

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Maple Leaf has 5th straight loss on meat recall

February 25, 2009

Just months after dealing with a deadly listeria outbreak involving its deli meats linked to 37 deaths, Maple Leaf Foods Inc., finds itself involved in another potentially damaging recall – this time involving more than 26,000 packages of wieners.
Maple Leaf, Canada’s largest food processor, announced the voluntary recall yesterday on the same day it […]

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Campbell Soup profits rise 8%

February 24, 2009

Campbell Soup Co. posted a higher-than-expected quarterly profit and said fiscal-year earnings could slightly beat analysts’ estimates as consumers turn to soup as a low-cost meal in the recession.
The world’s largest soup maker said its U.S. soup sales rose 8% and that overall, consumer purchases at stores outpaced the company’s sales to retailers.
Still, total […]

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U.S. sues UBS to disclose secret accounts

February 23, 2009

The U.S. government Thursday sued UBS, Switzerland’s largest bank, to force the firm to give the Internal Revenue Service secret account information on thousands of accounts believed to be worth nearly $15 billion.
The suit comes only one day after the Justice Department announced an agreement in which UBS promised to provide secret account information.
However, […]

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Bank wants Canadian Superior to repay $45M credit line

February 19, 2009

CALGARY – Canadian Superior Energy Inc., a troubled Calgary-based energy company with operations in Canada and internationally, says it has received a demand letter from Canadian Western Bank to repay all outstanding debt on a $45 million credit line with the bank by Feb. 23.
Canadian Superior (TSX: SNG) revealed Tuesday it's in talks with […]

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Love in the time of recession

February 16, 2009

Last week, a bride-to-be visited online wedding hub TheKnot.com (KNOT) and posted a wistful set of questions to her virtual sisters. "Fianc

finance - Comments closed

Stimulus Aims Two-Phase Jolt at U.S. With Tax Cuts, Spending

February 14, 2009

The stimulus plan emerging from Congress may jolt the U.S. economy in successive waves: relief to cash-strapped consumers, businesses and states, then a job- creating lift from spending on roads, utilities and public transit.
While the package will take time to have an impact, and unemployment is likely to keep rising for months, it […]

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GM’s product czar Lutz to retire at end of year

February 11, 2009

General Motors Corp’s product chief and Vice Chairman Bob Lutz will retire at the end of the year, bringing to a close a legendary automotive career that spanned 46 years and included top jobs at all three Detroit automakers.
Lutz, 76, will transition to a new role effective April 1, as vice chairman and senior […]

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LABARGE: Write-offs sink profit

February 7, 2009

LaBarge Inc. said Friday that second-quarter profit was hurt by a nonrecurring write-off of inventory and receivables following the bankruptcy of customer Eclipse Aviation Corp.
LaBarge, which makes electronic assemblies for a variety of industries, reported net income for the quarter was $249,000 compared to about $3.4 million one year ago. It also reported […]

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MoDOT puts variety of property on market

February 5, 2009

There’s a house in Ballwin, 40 acres of woods in Newton County and a nice slice of property at the south end of the Galleria in Richmond Heights. And for the right price, they can be yours.
The Missouri Department of Transportation, in a quest for cash, is selling the properties and hundreds of […]

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