A northeast Nebraska plant that produces ice scrapers, snow brushes and other items will be closing next month, costing 33 workers their jobs. Company officials for Mallory USA told the Sioux City (Iowa) Journal that the work at their South Sioux City, Neb., plant will be moved to a plant in Emporia, Kan.
As Jos. A. Bank continues to rebuff a hostile takeover bid by Men’s Wearhouse, the clothier is exploring at least one alternative deal that would keep it independent. The company is in talks to buy Eddie Bauer, the outdoor clothing retailer, according to people briefed on the matter. Meanwhile, Jos. A. Bank publicly released a letter to Men’s Wearhouse accusing its bigger rival of failing to properly disclose the antitrust risks in its takeover bid.
U.S. manufacturing barely expanded last month as cold weather delayed shipments of raw materials and caused some factories to shut down. The Institute for Supply Management, a trade group of purchasing managers, said Monday that its index of manufacturing activity fell to 51.3 in January from 56.5 in December. It was the lowest reading since May, though any reading above 50 signals growth.
U.S. construction spending rose modestly in December, slowing from healthy gains a month earlier. The Commerce Department said Monday that construction spending increased a scant 0.1 percent to a seasonally adjusted annual rate of $930.5 billion, down from a revised 0.8 percent increase in November.