Cummins (CMI) has revealed that it will recall about 270 production employees at its Columbus Midrange Engine Plant (CMEP) in Walesboro, Indiana. A temporary increase in orders for the Dodge Ram turbo diesel pickup truck engines made at the plant has led to the recall. The workers had been laid off or transferred to other Cummins facilities over the last year. Dodge Ram pickup – manufactured by Chrysler – is powered by Cummins’ 6.7-liter turbo diesel engine. The orders have increased as Chrysler seeks to build inventory for its 2010 Dodge Ram pickup. Consequently, Cummins plans to temporarily add a second production shift at CMEP on Oct. 19 that is expected to operate through the end of 2009. The recall will boost the plant’s workforce to 600 hourly workers. The company began production of the 2010 Dodge Ram engines in mid-September with approximately 340 production employees ...

Jet engine maker Pratt & Whitney said it plans to eliminate 1,000 jobs in Connecticut by 2011, transferring engine repair work to the Southeastern state of Georgia and Asia in a cost-cutting initiative.

This subsidiary of United Technologies Corp. (UTX) will close down its Cheshire, Connecticut, plant by early 2011. From the second quarter of 2010, it will begin shifting some operations from the East Hartford facility to Columbus, Georgia, Singapore and Japan. Pratt & Whitney, which is suffering due to sagging demand from airlines, employs 35,000 workers worldwide, with 11,000 in Connecticut.

The company rejected an offer that the Machinists union valued at more than $80 million in wage and other concessions and a state plan proposing $100 million in economic assistance over five years. Pratt & Whitney has vastly scaled back operations in the state since the 1960s, when more than 20,000 workers were employed.

Pratt

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Wednesday September 16, 2009

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CMARK International, Inc., (Pink Sheets: CMIT) a global provider of facility and logistic support services for government and commercial institutions just completed design, outfitting and installation of food service equipment and furnishings for 2 new U.S. Army dining facilities in Georgia. Each facility is approximately 22,000 square feet and feeds approximately 1400 soldiers per meal. The company completed both of these jobs simultaneously at Fort Gordon near August, GA and Fort Benning near Columbus, GA.

Globecomm Systems Inc.

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The governor of Connecticut has offered $100 million worth of incentives to jet engine manufacturer Pratt & Whitney, a United Technologies Corporation (UTX) company, to prevent the possible loss of 1,000 jobs. The five-year plan includes lifting a cap on tax credits for the parent company, providing training assistance and establishing a job retention tax credit. It also includes investments in machinery and equipment and the building of an Engineering Center for Excellence for engineers at Pratt & Whitney and other aerospace companies. The state has joined hands with the International Association of Machinists, which represents 3,700 workers and has been negotiating with Pratt & Whitney for weeks in an attempt to retain existing jobs. The Machinists offered $63 million in annual cost reduction, including reduced overtime, to help save jobs. Pratt & Whitney has been affected by the steep decline in the commercial airline ...

Mid-America Apartment Communities Inc. (MAA), a self-administered and self-managed real estate investment trust (REIT), recently announced the retirement of its CFO Simon Wadsworth as part of the long-term succession-planning program.

The company’s Executive Vice President, Treasurer and Director of Financial Planning Albert Campbell will replace Simon Wadsworth. Campbell joined Mid-America Apartment in 1998 as Vice President of Financial Planning and was later promoted to Senior Vice President and Treasurer of the company in 2003.

Mid-America Apartment owns and manages apartments in the Sunbelt region of the U.S. The company defines its portfolio in two tiers– primary markets and secondary markets. Having a diversified presence in diverse markets helps mitigate risk and decreases volatility in the event of a slowdown in any one product type.

Primary markets are relatively larger in size compared to secondary markets. On the other hand, secondary markets often have stable fundamentals due to limited

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Wednesday August 26, 2009

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Schering-Plough Corporation, (NYSE: SGP), today announced that the European Medicines Agency (EMEA) has validated (accepted for review) the company’s Marketing Authorization Application (MAA) for a fixed-dose combination of mometasone furoate and formoterol fumarate for the maintenance treatment of asthma in patients 12 years of age and older. The company also announced today that the EMEA has validated the MAA for nomegestrol acetate (2.5 mg) / 17 beta-estradiol (1.5mg), a combined oral contraceptive (COC) containing a unique combination of a natural estrogen identical to the estrogen produced by a woman’s own body and a selective progestin

Marathon Oil Corporation (NYSE: MRO) announced today

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Ford Motor (F) recently introduced an intelligent vehicle-to-grid communications technology that will enable its plug-in hybrid electric vehicles (PHEVs) to simply "talk" with the nation's electric grid for recharging the battery.

The new technology that works on SYNC, SmartGauge with EcoGuide and Ford Work Solutions, will allow the owner to select the time, duration and utility rate for recharging his car on a touch-screen navigation interface and Ford Work Solutions in-dash computer.

The owner could thus choose to accept a charge only during non-peak hours, between midnight and 6 am, when electricity rates are cheaper or when the grid can use renewable sources like wind or solar energy.

Ford said that all 21 of its PHEV Escapes fleet are likely to be equipped with the vehicle-to-grid communications technology. The first batch of specially equipped PHEVs has already been delivered to American Electric Power (AEP) of Columbus, Ohio.

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Weyerhaeuser Co. (WY) announced second-quarter results on Friday. The company posted a GAAP net loss of $106 million, compared to a loss of $96 million in the same period last year. Excluding certain special items, net loss came in at $125 million, or 59 cents per share, beating the Zacks Consensus Estimate by 12 cents, or nearly 17%.

Weyerhaeuser, one of the largest forest-products companies in the world with operations across 10 countries, reported its fourth straight quarterly loss as it continues to reel from the effect of sluggish demand from the housing industry. However, the company feels that the sector is witnessing signs of stabilization after negotiating the worst of headwinds. The Federal Way, Washington-based company’s sales slumped 36% year over year to $1.39 billion.

Revenue from the Timberlands segment fell 7.1% year over year to $208 million, primarily on a slump in log prices and lower

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Columbus, Ohio-based American Electric Power Company, Inc. (AEP) beat the Zacks Consensus estimate of $0.61 by seven cents in its fiscal second quarter with EPS of $0.68. However, this was lower than the year-over-year EPS of $0.70 due to dilutive issuance in April to alleviate its debt load.   Ongoing earnings rose by $41 million year over year to $321 million from $280 million in the year-ago quarter. The upside came from higher rates and improvements in the cost structure, offsetting lower demand from industrial customers. Higher rates in Virginia, Indiana, Oklahoma and Ohio -- along with authorization to recover fuel costs in Ohio -- were the triggers in the quarter.

Volumes were more than a fifth lower in the industrial segment over the year-ago period, as softer economy has reduced the industrial volumes across the nation. Other utilities like Constellation Energy Group (CEG) and Dominion Resources (D),

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Tuesday July 28, 2009

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Cardiome Pharma Corp. (NASDAQ: CRME) today announced that it has earned a US$15 million milestone payment from its collaboration with Merck & Co., Inc., through an affiliate. The milestone was triggered by the submission, by Merck, of a Marketing Authorisation Application (MAA) to the European Medicines Agency (EMEA) seeking marketing approval for vernakalant (iv) in the European Union.

MakeMusic, Inc. (NASDAQ: MMUS) announced today the release of SmartMusic(R) 2010, a free update for all current subscribers of SmartMusic, the music learning software for band, orchestra and choir. A guided tour, demonstrating what’s new in SmartMusic 2010, can be viewed at the SmartMusic website.

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