You choose, we deliver
If you are interested in this story, you might be interested in others from The Journal Gazette. Go to www.journalgazette.net/newsletter and pick the subjects you care most about. We'll deliver your customized daily news report at 3 a.m. Fort Wayne time, right to your email.

Business

  • Government ups air bag warning to 7.8M vehicles
    The U.S. government is adding more than 3 million vehicles to a rare warning about faulty air bags that have the potential to kill or injure drivers or passengers in a crash.
  • Japan’s exports up in September, deficit persists
      TOKYO – Japan’s trade deficit edged higher in September though exports rose more than expected as the yen weakened to a near six-year low, the Finance Ministry said Wednesday.
  • Kleenex maker plans 1,300 cuts
    DALLAS – Kimberly-Clark plans to eliminate up to 1,300 jobs as part of restructuring efforts aimed at reducing costs and making its business more efficient.
Advertisement
Briefs

2 to leave GM’s directors panel

Two members of the General Motors Co. board of directors are leaving the panel in June.

The company said in a regulatory filing that David Bonderman won’t seek election at the company’s annual meeting. Robert Krebs plans to retire.

Both were appointed to the board by the U.S. government in July of 2009, shortly after GM left bankruptcy protection.

GM did not discuss replacements for the 14-member board in the filing Tuesday. The company’s annual shareholders meeting normally takes place each June in Detroit.

Bonderman, 71, is a co-founding partner of TPG, a private investment firm. Krebs, 72, is a retired chairman and CEO of Burlington Northern Santa Fe Corp., one of the nation’s largest freight railroad networks.

Also Tuesday, GM named Brian Sweeney as head of the Chevrolet brand in the U.S. He’ll be responsible for sales, service and marketing of GM’s biggest brand starting March 1.

Don Johnson, GM’s current vice president of Chevrolet sales and service, is retiring, the company said.

Bancorp’s earnings decline 13.3 percent

Northeast Indiana Bancorp, Inc. reported annual earnings of $2.5 million, or $2.01 per diluted common share, for 2013, down $380,000, or 13.3 percent, from the previous year.

In 2012, the bank company said in a news release late Friday, net income was $2.9 million, or $2.31 per diluted common share.

Northeast Indiana Bancorp is the Huntington parent company for First Federal Savings Bank.

The company also announced quarterly earnings for the three months ended Dec. 31, 2013 of $652,000, or 53 cents per diluted common share, compared with net income of $913,000, or 74 cents per diluted common share, for the three months ended Dec. 31, 2012.

Regional bourbon, whiskey sales up

Global thirst for Kentucky bourbon and Tennessee whiskey caused exports to spike beyond $1 billion for the first time ever in 2013, a distilled spirits trade group said Tuesday.

Mixed together, bourbon and Tennessee whiskey exports grew a projected 5 percent, from $956.8 million in 2012 to just past $1 billion last year, the Distilled Spirits Council announced.

Advertisement