The manager of General Motors Corp.’s Hummer lineup says she hopes to make the brand “more approachable” with a new midsize sport utility vehicle scheduled to go on sale in the spring. The Hummer H3 is to make its international debut Wednesday at the California International Auto Show in Anaheim. GM has not announced pricing for the H3, but some analysts say it’s likely to cost between $30,000 and $35,000.
Bad weather hurts sales of Coca-Cola
Coca-Cola Bottling Co., the country’s second-largest bottler of Coca-Cola drinks, said third-quarter earnings fell sharply as poor weather hurt results. In the quarter ending Sept. 30, Coca-Cola earned $6.1 million, or 67 cents a share, on revenue of $321.3 million. In the same period of 2003, it earned $13.8 million, or $1.53 a share, on revenue of $325.6 million.
United Tech’s earnings surge
United Technologies Corp. reported a 13 percent increase in third-quarter profits on Wednesday, boosted by the continuing recovery of the aerospace industry and strong growth at its Otis elevator division. The Hartford, Conn.-based conglomerate earned $722 million, or $1.43 a share, in the three months ending Sept. 30, compared with $639 million, or $1.27 a share, in the year-ago period. United Technologies’ units include aircraft engine maker Pratt &Whitney, helicopter manufacturer Sikorsky, Hamilton Sundstrand and electronic security firm Chubb.
Honeywell profits grow 8 percent
Aerospace and high-tech manufacturer Honeywell International Inc. reported an 8 percent increase in third-quarter profits on Wednesday, helped by double-digit sales growth in three of its four divisions. The New Jersey-based company reported profits of $372 million, or 43 cents a share, for the three months ending Sept. 30. That compares with $344 million, or 40 cents a share, in the same period a year ago.
Hurricanes destroy Allstate’s profits
Allstate Corp. said Wednesday its third-quarter earnings plummeted 92 percent due to heavy insurance claims from hurricane damage in Florida and the Southeast. Allstate, the second-largest U.S. property casualty insurer behind State Farm and the biggest in Florida, sustained $1.11 billion in total catastrophe losses for the quarter. More than 95 percent of it, or $1.06 billion, was from the four major storms – hurricanes Charley, Frances, Ivan and Jeanne.
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