Bolivar boat plant to reopen, fill 130 jobs
BOLIVAR, Mo. -- A boat manufacturing plant that closed in Bolivar in 2009 will reopen and take on more than 130 employees within its first year.
Officials with White River Marine Group, the manufacturing arm of Bass Pro Shops, announced Wednesday that the plant would reopen because of strong customer demand for its boat brands.
The Springfield News-Leader reports that the plant is expected to begin boat production in mid-April.
The plant previously housed aluminum boat manufacturing until it closed during the economic downturn in 2009.
The company said demand for its boats has grown because its brands are being offered at Cabela's locations across North America after Bass Pro Shops acquired Cabela's last year.
White River Marine Group has several other facilities in Arkansas and Missouri.
-- The Associated Press
Ford N. American chief out over behavior
Ford Motor Co.'s head of North American operations is leaving the automaker immediately after an investigation into reports of "inappropriate behavior."
An internal investigation by the U.S. automaker found that Raj Nair, an executive vice president, engaged in behavior that "was inconsistent with the company's code of conduct," according to a statement.
While Ford didn't elaborate on the behavior that spurred Nair's exit, he's departing as sexual -harassment scandals have brought down a good number of prominent men, most notably in Washington and within the entertainment and media industries. The #MeToo movement has yet to make a major mark on the male-dominated auto industry.
"I sincerely regret that there have been instances where I have not exhibited leadership behaviors consistent with the principles that the company and I have always espoused," Nair, 53, said in the statement. "I continue to have the utmost faith in the people of Ford Motor Company and wish them continued success."
-- Bloomberg News
Soybean crop poised to dethrone corn
For the first time in 35 years, soybeans are poised to steal the crown of U.S. crop king from corn.
American farmers are set to increase their soy plantings to a record 90.69 million acres, according to the average estimate in a Bloomberg survey of 21 trading firms and analysts. Corn sowings are forecast to drop to 90.12 million. The last time soy surpassed corn was 1983, when government payments were based on idling acres.
This time last year, analysts were expecting the great soybean ascension to happen because the crop was already offering better premiums. And while growers did sow more of the oilseed than ever before, the plantings came in just shy of matching corn as temperate weather favored the grain.
So what's different this year? Drought.
About 16 percent of the Corn Belt is already experiencing drought conditions, with more dry weather forecast into the start of the growing season. Soybeans, wheat and cotton are all more drought-tolerant than corn.
-- Bloomberg News
Faked nuke plant inspections draw fine
The U.S. Nuclear Regulatory Commission said Wednesday that it's fining Southern Co. for faking inspections at the same nuclear power plant in Georgia where it's been trying for years to build new reactors.
The commission said in a statement it is proposing a $145,000 civil penalty against the Southern Nuclear Operating Co. subsidiary after workers at the Vogtle plant "did not complete required rounds to check equipment and plant conditions, but provided inaccurate documentation indicating that they had done so."
At least 13 workers at the Waynesboro plant failed to complete required rounds from August to October 2016 but entered data into an electronic log indicating they had done so, the NRC said.
The NRC said the company has "taken a number of corrective actions" and that there were "no actual safety consequences" as a result of the missed rounds.
Southern is building two reactors in eastern Georgia, the first new American nuclear project to be approved in three decades, but has seen cost estimates double to more than $25 billion.
-- Bloomberg News
Broadcom retaliates for Qualcomm move
Qualcomm on Tuesday increased its takeover bid for NXP Semiconductors, defying Broadcom's demand that it not do so.
On Wednesday, Broadcom retaliated.
The chipmaker shaved $3 per share off its hostile takeover bid for Qualcomm, reducing the offer to $79 a share. The price remains nearly 13 percent above Broadcom's original offer of $70.
In lowering its bid, Broadcom argued that Qualcomm's higher NXP offer would transfer $4.10 a share, or $6.2 billion, in value to NXP shareholders.
Broadcom's bid would automatically rise again to $82 a share if Qualcomm failed to complete its purchase of NXP, Broadcom said.
Qualcomm increased its offer price for NXP to $127.50 a share from $110 to shore up support for the deal among NXP's shareholders. The move succeeded. Qualcomm said investors controlling roughly 28 percent of NXP's shares, including Elliott Management, the activist hedge fund that had opposed Qualcomm's initial offer as being too low, agreed to tender their shares.
-- The New York Times
Bumping Burger King, Taco Bell is No. 4
Lovers of chalupas and crunch wraps have spoken: Taco Bell is now bigger than Burger King.
The Mexican-themed chain eclipsed its burger rival in U.S. sales last year, becoming the fourth-largest domestic restaurant brand, according to a preliminary report by research firm Technomic. McDonald's, Starbucks and Subway Restaurants held on to the top three spots.
Taco Bell's systemwide sales -- the total sales of restaurants that carry the brand -- jumped 5 percent in the U.S. to about $9.8 billion in 2017. The company, owned by Yum Brands, has made inroads with indulgent fare, along with $1 items that appeal to budget-strapped millennials.
The ranking change also underscores the surging popularity of Mexican-inspired fare. Last year marked the first time that Taco Bell has overtaken Burger King, the data showed.
-- Bloomberg News
Business on 02/22/2018