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

  • New-homesales slowto a trickle
    WASHINGTON – U.S. sales of new homes were nearly flat in September, after the government sharply revised downward what was initially an August surge in buying.New-home sales edged up 0.
  • Stocks see best week in 2 years
    NEW YORK – The stock market closed out its best week in nearly two years on a positive note Friday, helped by strong quarterly earnings from Microsoft and other big U.S. companies.
  • Ford quarterly profit falls
    DEARBORN, Mich. – Ford’s new aluminum-sided F-150 will be a lot lighter and more efficient when it goes on sale this year. But for now, it’s a serious drag on profits.
Advertisement

Ind. Tech biz support center open

BRIEFS

Indiana Tech announced Tues­day that the university’s new entrepreneur effort, the Cen­ter for Creative Collaboration, is open.

The program will provide en­tre­pre­neurs with targeted assistance in all phases of business start­up, operation and growth, officials said. The center is on Indiana Tech’s main campus in downtown Fort Wayne.

Clients will be matched with an experienced team of Indiana Tech faculty and staff from across the university, along with business mentors from around the region.

The process for each client starts with an assessment of the business concept and its potential for success and growth in its particular marketplace.

Lilly Endowment Inc. has supported the launch and first three years of operations of the center through a $500,000 grant awarded in December.

Heavy rains slow Detroit auto plants

Record-setting rainfall in the Detroit area has slowed vehicle production and closed some facilities, automakers said Tuesday.

General Motors closed its Tech Center in the Detroit suburb of Warren on Tuesday because of flood damage. The company told the 19,000 engineers, designers and others who work at the 330-acre campus to stay home while facilities are cleaned.

GM spokesman Bill Grotz said the flooding didn’t appear to cause severe damage to the historic campus, which was designed in the early 1950s by architect Eero Saarinen.

GM said production at local plants wasn’t affected, but Chrysler and Ford reported flood-related slowdowns at some of their plants Monday.

Savior of Saab in financial straits

The company that lifted Swedish automaker Saab out of bankruptcy is now facing financial difficulties of its own.

On Tuesday, a supplier petitioned a Swedish court to declare National Electric Vehicle of Sweden (Nevs) bankrupt.

Labo Test, which supplies test equipment for car parts, said Nevs had failed to pay bills totaling $22,000 since February.

Nevs spokesman Mikael Ostlund didn’t immediately answer a request for comment.

The company, owned by a Hong Kong group, bought Saab out of bankruptcy last year after a failed attempt to revive the brand by Spyker Cars of the Netherlands.

Apple payroll heavyon whites, Asians

Apple primarily relies on white and Asian men for its top-paying technology jobs, feeding the perception that Silicon Valley’s economic boom is largely excluding women, blacks and Hispanics.

A breakdown released Tuesday by Apple Inc. showed that 54 percent of the company’s technology jobs in the U.S. are filled by whites and another 23 percent by Asians.

Men make up 80 percent of Apple’s technology workforce throughout the world. The iPhone and iPad maker did not provide racial statistics for its global workforce of 98,000 employees.

Apple’s technological tilt toward white and Asian men is similar to profiles disclosed during the past three months by other major Silicon Valley companies, including Google, Yahoo, Facebook, Twitter and LinkedIn.

Advertisement