United Technologies

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Dow Plunges 200 on Bad Earnings

Stocks suffer biggest drop since June

(Newser) - Stocks plunged at the open today, with the Dow falling more than 200 points, sending it to its lowest level in seven weeks. As of 10:22am the Dow was down 206, while the Nasdaq and S&P were down 30 and 20 points respectively. The major cause for the... More »

Big Business to 'Swarm' DC to Back Climate Bill

Bucking conventional wisdom, eBay, Gap, others push for action

(Newser) - More than 150 business leaders plan to “swarm” Capitol Hill over the next two days in support of climate change legislation. Hailing from such disparate companies as eBay, the Gap, and PG&E, the executives say having a law in place would give them confidence in their long-term planning,... More »

$100M Divorce Is Made for Tabs

Lavish spending, sex make for juicy battle between Swedish countess and CEO

(Newser) - The demands of a Swedish countess looking for a $100 million divorce settlement from her CEO husband are making headlines, ABC reports. Marie Douglas-David’s pursuit of $53,000 in weekly expenses stands out during a time when many are downplaying lavish spending. “She threatened him with a mud... More »

United Technologies Will Slash 11,600 Jobs

Tough commercial aerospace market drives cuts

(Newser) - United Technologies Corp, which owns Sikorsky Aircraft and Pratt & Whitney, maker of jet engines, will cut 11,600 jobs and has lowered its 2009 forecast in a crumbling commercial aerospace market. The moves, part of an expanded $750 million restructuring program, are fueled by a decline in anticipated revenue,... More »

United Tech Makes $3B Bid for Diebold

Deal would expand UTC's footprint in electronic security business

(Newser) - United Technologies is bidding $3 billion for Diebold, one of the largest manufacturers of ATMs and voting machines. The unsolicited bid is $40 per share, a 66% premium over Diebold’s closing stock price Friday of $24.12, reports the New York Times. The deal would provide an opportunity for... More »

Molten Salt Key to New Solar Power Project

Aerospace supplier teams with clean-fuel company on new plants

(Newser) - A unit of United Technologies will join with clean-fuel firm US Renewables to store solar power in molten salt—enabling the sun’s rays to provide electricity even at night. Hamilton Sundstrand, best known as an aerospace-components supplier, says rising fossil-fuel prices have made a plan first hatched in the... More »

FAA Chief Bails for Lobby Group

Latest official to leave administration joins powerful DC organization

(Newser) - The top official of the Federal Aviation Administration is quitting to lead one of  Washington's most powerful lobbying organizations. Marion C. Blakey will head the Aerospace Industries Association, whose members include Boeing, General Dynamics, Lockheed Martin and most of the rest of the heavy hitters in civil and military aviation,... More »

7 Stories