PDQ Workholding is investing more than $1 million in new machinery and equipment as it expands its Whitley County operations, officials announced Tuesday.
The Columbia City company makes hydraulic fixtures for the CNC machining industry. CNC is shorthand for computer numerical controlled. “Workholding” is an industry term for a product that holds production parts for machining.
Jerry Busche, who founded the company in the summer of 2010, praised the city and county. “This community continues to provide an ideal location and a skilled workforce to support my business,” he said in a written statement.
The manufacturer initially announced plans to create up to 45 jobs by 2013. PDQ now employs 32 and is on track to meet job creation projections, the Whitley County Economic Development Corp. said in a news release. The Indiana Economic Development Corp. in 2010 offered PDQ up to $400,000 in performance-based tax credits based on its hiring plans.
Oracle rejects award, demands new trial
Business software maker Oracle Corp. has turned down $272 million in court-ordered damages from SAP AG in hopes of leaving a much bigger dent in its rival’s pocketbook and reputation during a second trial over allegations of corporate theft.
The decision to extend the five-year legal brawl had been expected since September. That’s when a federal judge lowered a $1.3 billion verdict awarded to Oracle by a jury that sat through a three-week trial filled with evidence depicting Germany’s SAP as a high-tech bandit. U.S. District Judge Phyllis Hamilton lopped more than $1 billion from the jury’s award after concluding it was “grossly excessive.”
Oracle demanded the new trial in a Monday court filing.
“We are disappointed that Oracle has passed up yet another opportunity to resolve this case,” SAP spokesman James Dever said Tuesday. Oracle, based in Redwood Shores, Calif., declined to comment.
GM sees slowdown in China auto sales
General Motors, the world’s biggest automaker, reported its first drop in China sales in six months as purchases slowed during the weeklong Lunar New Year holiday.
Deliveries to Chinese dealers fell 8 percent to 246,654 vehicles in January, from 268,071 a year earlier, the Detroit company said Tuesday. This year’s holiday extended from Jan. 23 to Jan. 29 and marked the start of the year of the dragon.
GM, which has an Allen County plant, regained its global sales crown from Toyota last year. The automaker is counting on the world’s biggest vehicle market to help protect its lead as Japanese carmakers rebound from a year of natural disasters. GM plans to focus on expanding its luxury car brand Cadillac and its sports utility vehicle lineup in China.
Job openings near 3-year high
The number of available jobs in the United States jumped in December to near a three-year high, supporting data that indicate a brighter outlook for hiring.
Companies and governments posted 3.38 million jobs in December, the Labor Department said Tuesday.
That’s up from the 3.12 million advertised in the previous month and nearly matches the three-year high reached in September.
