Just days after Toyota said their U.S. sales dropped 18.7 percent, Toyota is cutting 800 jobs at a unit making Lexus vehicles. It’s the first time Toyota has let go of contract workers before their contracts are up. This is yet another indicator of a sliding U.S. auto market, as Toyota has historically grown during previous recessions. In the following video John Casesa, Managing Partner of Casesa Shapiro Group, elaborates more on the future of the U.S. auto industry. He discusses automakers shifting production from SUVs and trucks to that of smaller fuel efficient cars, the changes in American car…
Author: Noah Graff
At Hurco’s open house July 25, 2008, the Today’s Machining World staff interviewed Hurco technical supervisor Paul Gray, who demonstrated how to a use a VMX42SR vertical machining center to create this bust of a head.
A recent survey from Charles Schwab, showed that a growing number of young American workers believe that the government is not going to take care of them in retirement. According to Liz Ann Sonders, chief investment Strategist at Charles Schwab, resources that people have historically counted on for retirement such as employers, inheritance and the government, are less reliable in today’s economy. This has caused more people to pay close attention to their personal money management and educate themselves about investment strategies. Source: TheStreet.com Question of the day: Are you scared about your quality of life after you retire?
Go Industry is handling an online sale expiring July 24, for Hardinge Corporation.Hardinge appears to be cleaning house up in Canada at the site of their former distributor in Ontario, Darbert Machinery of Mississauga. Hardinge has opted to handle the distribution of its products in Canada themselves.In Elmira the company is selling three CNC Swiss type lathes, a 25mm and two 16mm new in the mid 1990s. Hardinge brought in a private label Tsugami Swiss type for a few years but never made the commitment to go into the sliding headstocks in a big way. Had they made the push…
As Starbucks scrambles to regain footing in today’s cut-throat coffee war by refocusing on its roots – its coffee – it will soon be wheeling out a secret weapon. A new coffee maker called the Clover has been invented, which supposedly puts all other coffee makers to shame. The $11,000 machine allows the user to program three key brewing variables: dose, water temperature, and brew time. After the coffee steeps, a piston mechanism extracts the liquid from spent beans, resulting in a fresh cup in less than a minute.Starbucks CEO, Howard Schultz fell in love with the machine, and in…
Hardinge Inc. has made a significant change in management bringing in Rick Simons as CEO, a veteran of the company who had left to go to Carpenter Technology Corporation for three years before coming back ultimately to replace Pat Ervin.Hardinge stock has been on a long plunge over the last year. Simons appears to be a popular change from the old regime. Under Ervin, Hardinge focused on developing its worldwide business and had acquired prestigious Swiss brands like Kellenberger and Tschudin, but the North American machine tool business had decayed from the Haas onslaught on the less expensive end of…
The stimulus package for business will be kicking in this fall in a big way as companies and individuals figure out if they are making money for the year, and make the calculation that if Uncle Sam is giving money away they might as well catch it in their basket. The doubling of the expensing provision to $250,000 means that a small business could buy a couple of A-20 Citizens and get a fat $75,000 discount thanks to Uncle.This could be a rollicking fourth quarter for machine tool builders if they position themselves with appropriate financing packages for buyers who…
Allen-Bradley’s auction online on July 10 (see auction of the week: June 25), was a good example of the axiom that if the buyers are disinterested in a machine they will ignore it at almost any price, but if it’s something hard to find, the bidders will extend themselves even in a stinko market.The multi spindle National Acmes, though they were in nice shape and well equipped, virtually died. The 1” RAN6 machines with threading and pickoff brought from $2,500 to $6,500 plus a 16 percent buyer’s fee. The 7/16” RA6, went begging, most not even reaching the $1,000 reserve…
Today we inform you of a new, innovative, precision instrument which can help you when you’re off the job – the Rossa Monza Spider putter from Taylor Made.“Even when we purposely misfired putts, our second shots were gimmes. And when we found ourselves putting from the fringe and downhill, the Spider’s soft touch and pinpoint accuracy were the very definition of clutch,” recounts the Wired magazine’s product reviewer, Daniel Dumas. “Taylor Made claims the clubface is so well-balanced that shots hit off the toe or heel end up closer to the cup than with any of its competitors.”Dumas remarks that…
Sometimes an auctioneer obtains a deal and then gets ambushed. That appears to have happened to both Cincinnati Industrial and Great American Group of California who both ended up with Davenport deals at the same time.Cincinnati Industrial has the Southco auction, which is a collection of fastener and screw machine equipment which Southco deemed surplus as they move manufacturing to the Far East and other domestic locations. The Southco machinery is not hooked up. It is sitting in a huge warehouse near the Philly airport with cleaning equipment pushed next to the threaders and secondary equipment.The Great American deal is…