Computers, appliances boost factory orders

The nation’s manufacturers saw demand for their products grow in December, offering a dose of good news for an industry that has been struggling.

The Commerce Department reported Tuesday that orders to U.S. factories bounced back in December, rising by 0.4 percent over November orders, when orders declined by 0.8 percent.

Stronger demand for computers and household appliances more than offset weaker demand for automobiles and other transportation equipment.

December’s performance was slightly better than the 0.3 percent advance analysts were expecting.

Canada: KU graduate named CEO of oil company

Kansas University graduate Linda Zarda Cook has been named as the new president and chief executive of Shell Canada.

The company, which is Canada’s second-largest oil company, announced Cook would replace Tim Faithfull, who is retiring in July.

Cook, 44, currently is the chief executive of the Royal Dutch/Shell Group’s global Gas and Power business in London. A Kansas City, Kan. native, Cook has a petroleum engineering degree from KU. She’s been with Shell Oil since 1980, when she joined the company as a engineer.

Wall Street: Goodyear axes dividend

Goodyear Tire & Rubber Co. eliminated its quarterly dividend on Tuesday, a move expected to boost cash flow at the financially struggling company by $84 million annually.

Shares of the Akron, Ohio-based company, which has paid a dividend every year since 1936, plunged as much as 18 percent to a more than 30-year low. Goodyear had reduced the quarterly payout to 12 cents a share in October 2001 from 30 cents. The company operates a manufacturing facility in Topeka.