GM has no plans to reopen factories

GM has no plans to reopen factories

DETROIT

General Motors Co. will not reopen any factories, even though it has shortages of several new models, the company’s top sales executive said Tuesday.

Vice President of Sales Susan Docherty told reporters on a conference call that GM needs to use its current factories to the maximum rather than taking the expensive step of reopening a closed plant.

GM restructures sales, marketing

DETROIT

General Motors Co. says it will restructure its sales and marketing operations for the second time in less than three months.

The Detroit automaker will split sales from marketing after combining them under Susan Docherty in December. Southeast Asia Executive Director Steve Carlisle will head sales while Docherty leads marketing. The company also split up sales and marketing for its remaining brands — Chevrolet, Buick, GMC and Cadillac — and reassigned other executives.

Pedal-safety idea gains speed in DC

WASHINGTON

Transportation Secretary Ray LaHood said Tuesday his agency may recommend that every new vehicle sold in the U.S. be equipped with brakes that can override the gas pedal. The idea seemed to be gaining support among lawmakers as Toyota officials returned for a third congressional hearing on lethal safety defects.

Domino’s Pizza doubles profit

ANN ARBOR, Mich.

Revamped pizza and a frank advertising campaign helped Domino’s Pizza Inc. more than double its fourth-quarter profit as curious customers tried out its new recipe, the delivery chain said Tuesday.

Executives have said that the chain decided to start overhauling its recipes more than 18 months ago after mounting criticism from focus groups and on social media sites. The company’s profit climbed to $23.6 million, or 41 cents per share, for the three months that ended Jan. 3, up from $11 million, or 19 cents per share, a year earlier.

Shareholders blast Denny’s managers

CHICAGO

A group of Denny’s Corp.’s largest shareholders criticized the restaurant chain’s top leaders Tuesday, saying they plan to launch a proxy fight to add three of their own members to its board of directors.

Blasting CEO Nelson Marchioli, the group called the Committee to Enhance Denny’s said the Denny’s management has “failed.” Led by investment firms Oak Street Capital Management and Dash Acquisitions, the group owns about 6.5 percent of the company’s outstanding shares.

Oil prices climb

NEW YORK

Oil prices rose close to $81 a barrel Tuesday, climbing at a time of the year when crude and gasoline prices typically move higher.

Oil prices have been drifting between $70 and $80 a barrel for most of the last eight months as crude demand remains weak in the U.S. and other industrial countries coming out of the Great Recession.

Associated Press