Google Glass Will Be Made in the USA by Foxconn
Google‘s high-tech glasses will be manufactured in California, according to multiple reports, in the latest example of an American tech company choosing to build one of its products in the United States. Google’s highly touted computerized spectacles, known as Google Glass, will be assembled by Foxconn Technology Group, the Taiwanese industrial giant that builds many of Apple‘s products, at a plant in Santa Clara, California, according to reports in the Financial Times and Bloomberg. Google’s decision comes just months after Apple CEO Tim Cook announced plans to spend $100 million to build one of the existing Mac lines in the U.S. Apple’s plans were highlighted by President Obama during his 2013 State of the Union address. Obama has called for tech companies to increase U.S.-based manufacturing, and although there are signs of an uptick, there remains considerable debate about whether this is a long-term trend or a short-term byproduct of the U.S. economic recovery. Foxconn, ...
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Judge Approves American-US Airways Merger
(NEW YORK) — American Airlines won bankruptcy court approval Wednesday to combine with US Airways and form the world’s biggest airline. “The merger is an excellent result. I don’t think anybody disputes that,” Judge Sean H. Lane said before issuing his decision. (MORE: The Battle for the Future of American Airlines) But the judge declined to sign off on a proposed $20 million severance package for Tom Horton, currently the CEO of American’s parent AMR Corp. The approval is an important milestone for American, which filed for Chapter 11 in November 2011 after having long resisted using the bankruptcy process to cut labor and other costs. The merger still needs approval from Department of Justice antitrust regulators and US Airways shareholders. It is expected to close by the fall. The combined airline will have 6,700 daily flights and annual revenue of roughly $40 billion. The new American Airlines will fly slightly more passengers than United, the current No. 1. It will be run ...
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New York Times Co. To Sell Boston Globe Amid Changing Media Landscape
The Times they are a-changin’ — again. The New York Times Co., parent company of the Gray Lady, plans to sell The Boston Globe, the venerable newspaper founded in 1872 by six Boston businessmen. The sale, which has been expected, is another indication of the rapidly changing U.S. media landscape, as the Internet transforms traditional media companies and new upstarts rise to challenge them. The decision to sell The Globe (part of the New England Media Group) is the first major action undertaken by new Times Co. CEO Mark Thompson, the former head of British Broadcasting Corp. For the last several years, The Times has been shedding assets and developing a new strategy centered around video, mobile devices, social media, and international growth. In short, The Times aims to become the premier global news organization, one deeply rooted in technology. “Our plan to sell the New England Media Group demonstrates our commitment to concentrate our strategic focus and investment on The New ...
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BP Profit Drops 79 Percent in Q4 Due to Settlement
LONDON — Oil and gas giant BP’s profit fell nearly 80 percent in the fourth quarter in results released Tuesday, dragged down by payouts related to the Gulf of Mexico oil spill. BP said that net profit fell to $1.62 billion in the quarter ending on Dec. 31, down from $7.69 billion in the same period the year before. BP took a loss of $3.85 billion for its settlement of all federal criminal charges with the U.S. government. Underlying replacement cost profit for the period, which strips out the changes in the value of inventories, was down 20 percent on the same period last year at $3.98 billion. The company’s settlement with the U.S. Justice Department shut the book on the criminal probe of BP’s role in the Deepwater Horizon disaster and Gulf oil spill, but civil claims remain. The London-based oil giant could pay billions more in damages for the 2010 spill. Nevertheless, the results surpassed analysts’ predictions, and BP said that its downstream activities — refining and sale ...
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Let the debate spin begin
Thursday, October 4, 2012 - 10:08 YouTube/Screenshot Big Bird gets crushed by an anvil at the end of the new web video from liberal super PAC American Bridge 21st Century. The super PAC was one of the first outside spenders to put together a debate response. Within hours of the close of the first presidential debate Wednesday night, the liberal super PAC American Bridge 21st Century and the Republican National Committee fired off spin reports. The RNC’s “ Smirk ” shows clips edited together of GOP nominee Mitt Romney criticizing President Barack Obama on the deficit, middle class income, health care and other issues while the camera zooms in on Obama looking down at his notes with his lips pursed and the corners of his mouth slightly turned up. Obama was accused of smugness during a 2008 debate against his then-opponent, Secretary of State Hillary Clinton, and the Romney team alluded to The New York Times last week that Romney’s strategy included “luring the president ...
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