Biz start-up workshop
TRAVERSE CITY — Individuals who are considering self-employment or are in the beginning stages of starting a business will have access to a wide variety of helpful information at a business start up workshop being offered by the Michigan Small Business and Technology Development Center. Venture Start: Business Start Up will be held Aug. 13 from 5:30 to 7:30 p.m. in the Parsons-Stulen building on NMC’s Aero Park Campus.
The workshop will be taught by business consultant Walt Muellenhagen and will help aspiring entrepreneurs assess their abilities to lead and manage a company, and evaluate market and sales potential for their products/services. Start-up costs, financing options, and business planning will be introduced, along with necessary steps to getting started.
There is no charge to attend the workshop but pre-registration is required at: northwestmichiganbusiness.com. For more information, call Sharon Gordon at: 922-3780 or email email@example.com.
American Axle profits rebound as sales rise
DETROIT — American Axle & Manufacturing Holdings Inc. said Friday that its second-quarter net income jumped five-fold compared with results a year ago hobbled by charges for plant closings.
Its shares jumped briefly to their highest level in more than five years as earnings beat Wall Street expectations.
The company earned $25.8 million, or 34 cents per share, for the quarter that ended June 30. That was up from $4.7 million, or 6 cents per share, during the same period last year, when it absorbed 49 cents per share worth of special charges for closing plants in Detroit and Cheektowaga.
Revenue rose 8 percent to $799.6 million from $739.8 million a year earlier.
Analysts surveyed by FactSet had been expecting lower earnings of 30 cents per share on higher revenue of $813.8 million.
AAM gets most of its revenue for General Motors-related parts, although non-GM revenue rose almost 13 percent to $223.8 million, the company said. It’s benefiting from a recovery in the North American light truck market and from new products, said President and CEO David C. Dauch.