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Daily backgrounder

Honda completes
employee buyouts

Honda's first employee buyout is complete, and participation was high enough that the company has no plans for a second round of offers, a spokesman said.

The company said it will not provide new employee totals for Ohio operations until early next year.

Employees were offered a year's salary, plus $1,000 for every year of service, plus $17,000 intended to cover a year's worth of health insurance. Honda called the arrangement a ''voluntary separation opportunity'' rather than a buyout.

Before the cuts, the company had about 15,000 employees in Ohio; that was the largest work force of any automaker in the state. Most of the employees work at the Marysville and East Liberty assembly plants.

YRC, Army Reserve
in jobs partnership

Trucking giant YRC Worldwide Inc. (Nasdaq: YRCW) is working with the U.S. Army Reserve to enhance job opportunities for soldiers and veterans.

Under the agreement formally known as the Army Reserve Employer Partnership Initiative, YRC Worldwide joins hundreds of U.S. employers pledging to work with the military to identify and hire qualified job applicants.

Overland Park, Kan.-based YRC Worldwide will provide postings of all applicable jobs to all 20 U.S. Army Reserve locations. YRC, which has about 49,000 employees worldwide, is the parent of Akron operations formerly known as Roadway.

No quick hunger fix,
Nestle chief says

Nestle SA Chairman Peter Brabeck-Letmathe said there's no prospect of a quick end to the world's food shortages or financial crisis. He spoke in Zurich to a business group.

About 100 million people entered the ranks of the malnourished since last year, bringing the total to more than 1 billion people as food prices rose, the United Nations Food & Agriculture Organization said last week. The use of biofuels is increasing demand for agricultural commodities and putting more pressure on water supplies, Brabeck-Letmathe said. Population growth has been exceeding farm production improvements since the 1990s, the executive said.

Nestle has a Prepared Foods division based in Solon in Cuyahoga County.

Nissan to produce
electric vehicles

Nissan Motor Co. said its electric vehicles will be affordable, setting sights on the potentially lucrative market with a plan to mass produce zero-emission cars globally from 2012.

Japan's No. 3 automaker said it would unveil its first electric vehicle Aug. 2.

B&W awarded
contract for boilers

Babcock & Wilcox Co., which has operations in Barberton, said it has been awarded a contract for systems and related equipment for two boilers at PacifiCorp's Naughton power plant near Kemmerer, Wyo. The dollar value was not disclosed.

Honda completes
employee buyouts

Get the full article here.


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