By Everdeen Mason
The story so far:
- Navistar announced it would stop using its engine technology and opt to combine it with the after treatment technology of its competitors.
- Navistar offered 6,300 salaried employees buy outs as a cost saving measure.
- The company was taken out of the running for a $14 billion military contract to engineer and develop 55,000 Humvees.
- A Securities and Exchange Commission investigation of Navistar’s finances is announced because of concerns about disclosure and accounting.
- Navistar CEO Dan Ustian retired and was promptly replaced with Lewis Campbell.
- Navistar announces about 500 people took the buyout, so about 200 more jobs will have to be involuntarily cut.
- In an interview, new CEO Lewis Campbell announces that Navistar may have to close some plants.
Jobs reporter Everdeen Mason has investigated Navistar’s recent crises — including plummeting revenues, rejected engine technology, potential job cuts and government investigation into company finances — and how it affects more than 850 workers at the Springfield plant.
Confirmed local Navistar suppliers
- AOT Inc., 4800 Gateway Boulevard, Springfield
- Kaffenbarger Truck Equipment, 10100 Ballentine Pike, New Carlisle
- Benjamin Steel Co., 777 Benjamin Dr., Springfield
- Superior Trim, 5225 Prosperity Dr., Springfield
- Beech Manufacturing Co., 118 North Hampton Rd., Springfield
- Kreider Corp., 2000 S. Yellow Springs St., Springfield
- Ohio Distribution Warehouse, 1570 Muzzy Rd., Urbana