Deere Whirlpool reach labor deals in midwest manufacturing
Deere and Whirlpool announce new union contracts guiding 10 000 Deere workers across Iowa Illinois and Kansas and 2 600 Whirlpool Amana staff. The six year Deere UAW master contract covers farm equipment while Whirlpool Local 1526 approves a four year pact with wage and work rule changes. Details remain confidential and furloughs at Deere reflect weaker farm demand.
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Whirlpool
Tim White
Randy Krewson
American Apparel files for Chapter 11 bankruptcy protection
Los Angeles based retailer American Apparel Inc. files for Chapter 11 shielding its stores and manufacturing while pursuing a restructuring. The plan cuts debt from 300 million to 135 million by exchanging over 200 million in bonds for equity. Founder Dov Charney exits with his stake wiped out amid previous misconduct and lawsuits. Secured lenders provide 90 million in debtor in possession finance and 70 million new capital, with a six month expected completion.
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American Apparel Inc
U.S
American Apparel
Dov Charney
Charney
Saunders
Patrick T. Fallon
Bloomberg News
Los Angeles
McDonald’s launches all day breakfast nationwide
McDonald’s begins all-day breakfast across more than 14,000 U S restaurants. Franchise leadership approved the rollout to boost sales as CEO Steve Easterbrook pursues a revival plan. Some worry egg demand may lift egg prices due to earlier avian flu impacts. Menu includes McMuffins hot cakes sausage burritos fruit yogurt parfaits oatmeal and hash browns.
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Chicago
Steve Easterbrook
McDonald’s
U.S
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