Local Business News

Kellogg's earnings strong

BATTLE CREEK, Mich. (NEWSCHANNEL 3) - Despite all the bad news surrounding big companies lately, one of West Michigan's biggest is doing very well.   Kellogg's surprised Wall Street Thursday morning with better-than-expected earnings.  ... Full story

Another Haworth named chairman of Holland company

HOLLAND, Mich. (AP) - Office furniture maker Haworth Inc. says Matthew Haworth will succeed his father as chairman of the board on April 27.   Richard "Dick" Haworth will become chairman emeritus of the Holland-based company, which made the... Full story

Obama Adviser Issues Warning to Automakers

WASHINGTON (AP) - President-elect Barack Obama's top adviser has a warning for U.S. automakers: Without a plan to retool and restructure, there is very little taxpayers can do to help. Congress last week refused to act on a bailout plan for the Big... Full story

Greenspan says flaw in market system

WASHINGTON (AP) - Former Federal Reserve Chairman Alan Greenspan says the current financial crisis has uncovered a flaw in how the free market system works and that has shocked him.   Greenspan told the House Oversight Committee on Thursday... Full story

Learn how to sell your products overseas

KALAMAZOO, Mich. (NEWSCHANNEL 3) - There is a workshop Wednesday in Kalamazoo where local business leaders can learn about exporting goods overseas.   An international trade specialist will explain how to grow your business globally.  ... Full story

Ford gets $10M federal grant for plug-in hybrids

WASHINGTON (AP) - Ford Motor Co. is receiving a $10 million grant from the U.S. Energy Department to develop plug-in hybrid vehicles.   The funding being announced Tuesday will help the automaker continue to develop its demonstration fleet of... Full story

Alumnus gives Michigan Tech University $10 million

HOUGHTON, Mich. (AP) - A business executive who graduated from Michigan Tech University is giving $10 million to his alma mater.   Dave House's gift will be the largest the university in Houghton has ever received. It was announced Thursday... Full story

CarMax laying off 600 service associates

RICHMOND, Va. (AP) - CarMax says it is laying off 600 employees as the auto retailer tries to cut costs due to a decline in car and truck sales.   Spokeswoman Trina Lee says the reductions are in its service operations departments at a... Full story

JPMorgan Chase buys WaMu assets after FDIC seizure

NEW YORK (AP) - For the second time in six months, JPMorgan Chase is taking over a major financial institution crippled by bad bets in the mortgage market.   JPMorgan Chase came to the rescue of Washington Mutual Incorporated Thursday, buying... Full story

Layoffs in Mattawan

MATTAWAN, Mich. (NEWSCHANNEL 3) - Alcoa announced on Wednesday that its Alcoa Electrical and Electronic Systems business has initiated a restructuring of its US operations as a result of continued decrease in customer demand. Alcoa says that in... Full story

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