Manufacturing News

Published: Friday, November 20, 2009 at 10:45 p.m. Last Modified: Friday, November 20, 2009 at 10:45 p.m. A Maui man accused of spying for China is difficult to work with and makes wild exaggerations but is legally able to stand trial, a federal prosecutor asserted Friday.

Tom Petters, on trial as the alleged mastermind of a $3.65 billion Ponzi scheme, took the witness stand in his own defense on Wednesday, trying to portray himself as a "big picture" executive far removed from the supposed fraud that prosecutors say he committed.

Nov. 19 -- Paul Hickey, co-founder of Bespoke Investment Group, talks with Bloomberg's Pimm Fox about the outlook for the stock market and his equity picks.

The U.S. National Guard Bureau has awarded Northrop Grumman Corporation a contract to support the National Guard Bureau Joint Doctrine, Training and Force Development .

The following stocks were among those that moved substantially or traded heavily Wednesday on the New York Stock Exchange: NYSE: Coventry Health Care Inc., down 63 cents at $23.05 An analyst said the health insurer will likely offer a disappointing 2010 earnings outlook and may be hit hard by health care reforms.

American Superconductor Corp. CEO Gregory Yurek says the energy technology component company's revenue will grow by a third next year to $400 million.

Goodrich Corp. said Wednesday it will provide landing gear maintenance for Asiana Airlines' fleet of large Boeing passenger jets under a contract with the Korean airliner.

American Superconductor Corp. reaffirmed its full-year outlook Thursday and said it expects its profit to double next fiscal year.

Industrial manufacturer Raven Industries Inc., based in Sioux Falls, S.D., posted a better-than-expected quarterly profit, helped by strength in its Aerostar segment, but said it remains cautious about the near term outlook for farm equipment.

The chief financial officer of United Technologies Corp. said Wednesday the industrial conglomerate will likely have a higher profit next year due to cost-cutting even as revenue remains flat.

Goodrich Corporation has signed a letter of intent with Emirates to become the exclusive provider of evacuation system maintenance, repair and overhaul services for the airline's fleet of 58 Airbus A380 aircraft.

Plastic and metal packaging company Ball Corp. says Chief Operating Officer John A. Hayes will add the title of president at the start of 2010 and will join the company's board of directors.

Carrier Corp., which makes heating, ventilating and air conditioning equipment, said Wednesday it has acquired three building management control businesses of the i2S Group, a British company.

Devens-based American Superconductor Corp. has received a $10 million order for wind turbine parts from a Chinese company.

The U.S. Navy has awarded Northrop Grumman Corporation a $635m cost plus fixed-fee/level of effort contract for engineering, design and modernization support of new construction, operational and decommissioning submarines.

A drill bit maker has announced plans to expand its South Carolina operations, adding up to 85 jobs.

Simmons Company, maker of Beautyrest mattresses, has filed for bankruptcy protection.

Lockheed Martin announced Monday it will realign its Electronic Systems business and will need to cut more jobs early next year.

Montreal-based CAE has sold two flight simulators worth $35 million to a Chinese client, the company announced Tuesday.

Swedish auto supplier Autoliv Inc. is buying Delphi Automotive LLP's North American passive safety business, but will consolidate much of the production into its own plants.