Boeing's S.C. workers earn catch-up bonus
Boeing South Carolina workers sustained production goals during the past 10 days to qualify for a bonus promised by the Chicago-based aerospace company earlier this year.
Workers met the goal to spur catch-up work on the 787 Dreamliner by April 28, but had to sustain production levels for 10 working days to qualify for the financial incentive.
Factory floor workers will get 8 percent of their base pay for the previous 12 months while office workers, engineers and other white-collar employees will receive a flat $2,500 bonus.
The one-time payout is in addition to a bonus equal to 18 days pay given to employees earlier this year. Employees should receive the additional money within 30 days, spokeswoman Candy Eslinger said.
Warren L. Wise
Hillshire beyond meat with Birds Eye, Vlasic
NEW YORK - Hillshire Brands is pushing further outside the deli case with a deal to buy the maker of Birds Eye frozen vegetables, Duncan Hines cake mixes and Hungry-Man frozen dinners.
The company, which makes Hillshire Farm lunch meats, Jimmy Dean sausages and Ball Park franks, said Monday it would buy Pinnacle Foods in a deal valued at $4.23 billion. Among Pinnacle's other brands are Wish-Bone salad dressing and Vlasic pickles.
Frozen food industry is on offense as sales lag
NEW YORK - Frozen food makers plan to air their first national TV ad in defense of their products on Tuesday as the category fights to boost slipping sales.
The ad will include the slogan "Frozen: How Fresh Stays Fresh" and is intended to address negative attitudes people have about frozen foods.
It's part of a major marketing push being funded by the American Frozen Food Institute, an industry group that represents companies including Nestle and ConAgra.
The push comes as sales have been hurt by a move toward food people feel are fresh or natural. Although frozen vegetables are often touted as being as wholesome as their fresh counterparts, frozen meals and snacks are seen as being full of sodium and preservatives.
Nissan's profit rises as sales outpace industry
TOKYO - Nissan's quarterly profit edged up nearly 5 percent as sales grew around the world and a favorable exchange rate helped earnings.
Nissan Motor Co. reported Monday that January-March profit totaled $1.1 billion. Quarterly sales rose more than 20 percent to $31 billion.
The Japanese automaker is expecting continued growth for the fiscal year that began April 1, said CEO Carlos Ghosn.
Chrysler reporting loss of $690 million for 1Q
DETROIT - Chrysler Group saw big sales gains in the first quarter thanks to the new Jeep Cherokee and Ram pickup, but it lost money because of charges related to its merger with Italian automaker Fiat SpA.
Chrysler posted a loss of $690 million for the January-March period. Without one-time costs of $1.2 billion, the company's net income more than doubled to $486 million.
In the U.S., where Chrysler sells 75 percent of its cars and trucks, sales rose 11 percent, far outpacing the 1 percent average gain for the industry.
Quiznos' restructuring receives court approval
DENVER - Quiznos, which filed for bankruptcy protection in March, says a court has confirmed its reorganization plan.
The sandwich chain filed for bankruptcy protection to reduce its debt after losing ground to competitors.
The company only owns and operates seven of the nearly 2,100 Quiznos restaurants nationwide. The rest are operated by franchisees and aren't part of the bankruptcy proceedings.
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